Document:

ex10-22.htm

    Exhibit 10.22

    

    Form of
Warrant

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    
 

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    THIS
WARRANT AND ANY SHARES OF COMMON STOCK ISSUED UPON EXERCISE HEREOF HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND HAVE BEEN ACQUIRED
FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR
DISTRIBUTION THEREOF. NO SUCH SALE OR DISPOSITION MAY BE AFFECTED WITHOUT AN
EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL THAT
SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED.

     

    ANPATH
GROUP, INC.

     

    WARRANT
TO PURCHASE

     

    [____________]
SHARES

     

    OF
COMMON STOCK

     

    (SUBJECT
TO ADJUSTMENT)

     

    

     

    Warrant
No.:                                                                                                                                                                                                                                                                                                                                                                          [______],
200_

     

    · This
certifies that for value, [__________] or its registered
assigns (the “Holder”),
is entitled, subject to the terms set forth below, at any time from and after
the date hereof (the “Original Issuance
Date”) and before 5:00 p.m., Eastern Time, on [________](the “Expiration
Date”)), to purchase from Anpath Group, Inc., a Delaware
corporation (the “Company”),
[_____________ (__________)]
shares (subject to adjustment as described herein), of common stock, par
value $0.0001 per share, of the Company (the “Common
Stock”), upon surrender hereof, at the office of the Company referred to
below, with a duly executed exercise notice (the “Exercise
Notice”) in the form attached hereto as Exhibit A
and simultaneous payment therefor in lawful, immediately available money of the
United States or otherwise as hereinafter provided, at an initial exercise price
per share of $0.75 (the
“Exercise
Price”) The Exercise Price is subject to adjustment as provided below,
and the term “Common
Stock” shall include, unless the context otherwise requires, the stock
and other securities and property at the time receivable upon the exercise of
this Warrant. The term “Warrants,”
as used herein, shall mean this Warrant and any other Warrants delivered in
substitution or exchange therefor as provided herein.

     

    · This
Warrant is one of a series of similar Warrants issued in connection with the
Company’s private placement (the “Offering”)
of its units (“Units”),
each Unit consisting of (i) a 8% convertible promissory note (the “Note”)
and (ii) a Warrant to purchase 20,000 shares of Common Stock, on a 50 Unit
($500,000) minimum and a 500 Unit ($5,000,000) maximum basis.  In the
Offering, the Company sold its securities to “accredited investors” pursuant to
Subscription Agreements by and between the Company and the Investors named
therein (the “Subscription
Agreements”).

    Definitions.  In
addition to the terms defined elsewhere in this Warrant, capitalized terms that
are not otherwise defined herein have the meanings given to such terms in the
Subscription Agreements.

     

    Exercise.

     

    This Warrant may be exercised at any
time or from time to time from and after the Original Issuance Date and before
5:00 p.m., Eastern Time, on the Expiration Date, on any business day, for
the full number of shares of Common Stock called for hereby, by surrendering it
at the Company’s office, at 116 Morlake Drive, Suite 201, Mooresville, North
Carolina 28117, Attention: Stephen Hoelscher, Chief Financial Officer, with the
Exercise Notice duly executed, together with payment in an amount equal to
(a) the number of shares of Common Stock called for on the face of this
Warrant, as adjusted in accordance with the preceding paragraph of this Warrant
multiplied (b) by the Exercise Price then in effect. Payment of the
Exercise Price must be made by payment in immediately available funds. This
Warrant may be exercised for less than the full number of shares of Common Stock
at the time called for hereby, except that the number of shares of Common Stock
receivable upon the exercise of this Warrant as a whole, and the sum payable
upon the exercise of this Warrant as a whole, shall be proportionately reduced.
Upon a partial exercise of this Warrant in accordance with the terms hereof,
this Warrant shall be surrendered, and a new Warrant of the same tenor and for
the purchase of the number of such shares not purchased upon such exercise shall
be issued by the Company to Holder without any charge therefor. A Warrant shall
be deemed to have been exercised immediately prior to the close of business on
the date of its surrender for exercise (the “Exercise Date”) as provided above, and the person
entitled to receive the shares of Common Stock issuable upon such exercise shall
be treated for all purposes as the holder of such shares of record as of the
close of business on the Exercise Date. Within ten (10) business days after the
Exercise Date, the Company shall issue and deliver to the person or persons
entitled to receive the same a certificate or certificates for the number of
full shares of Common Stock issuable upon such exercise, together with cash, in
lieu of any fraction of a share, equal to such fraction of the then Fair Market
Value (as defined below) on the Exercise Date of one full share of Common
Stock.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    .150 In lieu of exercising this Warrant
for cash pursuant to Section 2 A above, the Holder may elect to
satisfy the Exercise Price by exchanging the Warrant for a number of shares of
Common Stock computed using the following formula (such election being referred
to herein as a “Net Issue Exercise
Election”):

     

    
      
        	
                X =
       

              	
                Y(A-B)

              
	
                   
      A

              

      

    

    

    
      	
               
      

            	
              Where

            	
              X
      =

            	
              the
      number of shares of Common Stock to be issued to the Holder pursuant to
      this Section
      1

            

    

    

    
      	
               
      

            	
              Y
      =

            	
              the
      number of shares of Common Stock purchasable under this Warrant or, if
      only a portion of this Warrant is being exercised, the portion of this
      Warrant being exercised (at the date of such
  calculation).

            

    

    

    
      	
               
      

            	
              A
      =

            	
              the
      Fair Market Value of one share of the Common Stock (at the date of such
      calculation).

            

    

    

    
      	
               
      

            	
              B
      =

            	
              the
      Exercise Price per share of Common Stock (as adjusted to the date of such
      calculation).

            

    

     

    “Fair
Market Value” shall mean, as of any date: (i) if shares of the
Common Stock are listed on a national securities exchange, the average of the
closing prices as reported for composite transactions during the five (5)
consecutive trading days preceding the trading day immediately prior to such
date or, if no sale occurred on a trading day, then the mean between the closing
bid and asked prices on such exchange on such trading day; (ii) if shares of the
Common Stock are not so listed but are traded on the Nasdaq market (“Nasdaq”),
the average of the closing prices as reported on Nasdaq during the five (5)
consecutive trading days preceding the trading day immediately prior to such
date or, if no sale occurred on a trading day, then the mean between the highest
bid and lowest asked prices as of the close of business on such trading day, as
reported on the Nasdaq, (iii) if not then included for quotation on Nasdaq, the
average of the closing prices as reported by the OTC Bulletin Board during the
five (5) consecutive trading days preceding the trading day immediately prior to
such date or, if no sale occurred on a trading day, then the mean between the
highest bid and lowest asked prices as of the close of business on such trading
day, as reported by the OTC Bulletin Board; or (iv)  if the shares of the
Common Stock are not then publicly traded, the fair market price of the Common
Stock as determined in good faith by at least a majority of the Board of
Directors of the Company.

     

    .151 Limitation
on Exercise.  Notwithstanding any
provisions herein to the contrary, the number of shares of Common Stock that may
be acquired by the Holder upon any exercise of this Warrant (or otherwise in
respect hereof) shall be limited to the extent necessary to insure that,
following such exercise (or other issuance), the total number of shares of
Common Stock then beneficially owned by such Holder and its affiliates and any
other persons whose beneficial ownership of Common Stock would be aggregated
with the Holder’s for purposes of Section 13(d) of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”), does not exceed 4.9% (the
“Maximum
Percentage”) of the
total number of issued and outstanding shares of Common Stock (including for
such purpose the shares of Common Stock issuable upon such exercise). For such
purposes, beneficial ownership shall be determined in accordance with Section
13(d) of the Exchange Act and the rules and regulations promulgated thereunder.
This restriction may not be waived.

    

    .152 Exercise
Disputes.  In the case of any dispute with respect to the
number of shares of Common Stock to be issued upon exercise of this Warrant, the
Company shall promptly issue such number of shares of Common Stock that is not
disputed and shall submit the disputed determinations or arithmetic calculations
to the Holder via fax (or, it the Holder has not provided the Company with a fax
number, by overnight courier) within five (5) Business Days of receipt of the
Holder’s Exercise Notice.  If the Holder and the Company are unable to
agree as to the determination of the Exercise Price within five (5) Business
Days of such disputed determination or arithmetic calculation being submitted to
the Holder, then the Company shall in accordance with this Section, submit via
facsimile the disputed determination to its independent auditor.  The
Company shall cause its independent auditor to perform the determinations or
calculations and notify the Company and the Holder of the results promptly, in
writing and in sufficient detail to give the Holder and the Company a clear
understanding of the issue.  The determination by the Company’s
independent auditor shall be binding upon all parties absent manifest
error.  The Company shall then on the next Business Day instruct its
transfer agent to issue certificate(s) representing the appropriate number of
shares of Common Stock in accordance with the independent auditor’s
determination and this Section.  The prevailing party shall be
entitled to reimbursement of all fees and expenses of such determination and
calculation.

    Shares Fully Paid; Payment
of Taxes. All shares of Common Stock issued upon the exercise of this
Warrant, in accordance with the terms of this Warrant, shall be validly issued,
fully paid and non-assessable, and the Company shall pay all taxes and other
governmental charges (other than income taxes to the holder) that may be imposed
in respect of the issue or delivery thereof.

     

    Transfer
and Exchange. This
Warrant and all rights hereunder are transferable, in whole or in part, on the
books of the Company maintained for such purpose at its office referred to above
by the Holder in person or by duly authorized attorney, upon surrender of this
Warrant at the Company’s office referred to above together with: (i) a completed
and executed form of assignment, a form of which is attached hereto as
Exhibit B, (ii) payment of any necessary
transfer tax or other governmental charge imposed upon such transfer and (iii)
an opinion of counsel reasonably acceptable to the Company stating that such
transfer is exempt from the registration requirements of the Securities Act of
1933, as amended (the “Securities Act”). Upon any partial transfer of this
Warrant, the Company will issue and deliver to Holder a new Warrant or Warrants
with respect to the portion of this Warrant not so transferred. Each taker and
holder of this Warrant, by taking or holding the same, consents and agrees that
this Warrant when endorsed in blank shall be deemed negotiable and that when
this Warrant shall have been so endorsed, the holder hereof may be treated by
the Company and all other persons dealing with this Warrant as the absolute
owner hereof for any purpose and as the person entitled to exercise the rights
represented hereby, or to the transfer hereof on the books of the Company, any
notice to the contrary notwithstanding; but until such transfer on such books,
the Company may treat the registered Holder hereof as the owner for all
purposes.

     

    
      
         

      

      
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    · This
Warrant is exchangeable at such office for Warrants for the same aggregate
number of shares of Common Stock, each new Warrant to represent the right to
purchase such number of shares as the Holder shall designate at the time of such
exchange.

    Certain
Adjustments.  The Exercise Price in effect at any time and the
number and kind of securities issuable upon exercise of this Warrant shall be
subject to adjustment from time to time upon the happening of certain events as
follows:

     

    .153 Adjustment
for Stock Splits and Combinations. If the Company at any time or from
time to time on or after the Original Issuance Date effects a stock split or
subdivision of the outstanding Common Stock, the Exercise Price then in effect
immediately before that stock split or subdivision shall be proportionately
decreased and the number of shares of Common Stock theretofore receivable upon
the exercise of this Warrant shall be proportionately increased. If the Company
at any time or from time to time effects a reverse stock split or combines the
outstanding shares of Common Stock into a smaller number of shares, the Exercise
Price then in effect immediately before that reverse stock split or combination
shall be proportionately increased and the number of shares of Common Stock
theretofore receivable upon the exercise of this Warrant shall be
proportionately decreased. Each adjustment under this Section 5.A shall become effective at the close
of business on the date the stock split, subdivision, reverse stock split or
combination becomes effective.

     

    .154 Adjustment
for Certain Dividends and Distributions. If the Company at any time or from
time to time on or after the Original Issuance Date makes or fixes a record date
for the determination of holders of Common Stock entitled to receive, a dividend
or other distribution payable in additional shares of Common Stock, then and in
each such event the Exercise Price then in effect shall be decreased as of the
time of such issuance or, in the event such record date is fixed, as of the
close of business on such record date, by multiplying the Exercise Price then in
effect by a fraction (1) the numerator of which is the total number of shares of
Common Stock issued and outstanding immediately prior to the time of such
issuance or the close of business on such record date and (2) the denominator of
which shall be the total number of shares of Common Stock issued and outstanding
immediately prior to the time of such issuance or the close of business on such
record date plus the number of shares of Common Stock issuable in payment of
such dividend or distribution; provided, however, that if such record date is fixed
and such dividend is not fully paid or if such distribution is not fully made on
the date fixed therefor, the Exercise Price shall be recomputed accordingly as
of the close of business on such record date and thereafter the Exercise Price
shall be adjusted pursuant to this Section 5B as of the time of actual payment of
such dividends or distributions.

     

    .155 Adjustments
for Other Dividends and Distributions. In the event the Company at any
time or from time to time on or after the Original Issuance Date makes, or fixes
a record date for the determination of holders of Common Stock entitled to
receive, a dividend or other distribution payable in securities of the Company
other than shares of Common Stock, then and in each such event provision shall
be made so that the Holder of this Warrant shall receive upon conversion
thereof, in addition to the number of shares of Common Stock receivable
thereupon, the amount of securities of the Company which the Holder would have
received had this Warrant been exercised on the date of such event and had
Holder thereafter, during the period from the date of such event to and
including the conversion date, retained such securities receivable by the Holder
as aforesaid during such period, subject to all other adjustments called for
during such period under this Section 5 with respect to the rights of the
Holder of this Warrant.

     

    .156 Adjustment
for Reclassification, Exchange and Substitution. In the event that at any time or
from time to time on or after the Original Issuance Date, the Common Stock
issuable upon the exercise of this Warrant is changed into the same or a
different number of shares of any class or classes of stock, whether by
recapitalization, reclassification or otherwise (other than a subdivision or
combination of shares or stock dividend or a reorganization, merger,
consolidation or sale of assets, provided for elsewhere in this Section 5), then and in any such event the
Holder of this Warrant shall have the right thereafter upon exercise of this
Warrant to receive the kind and amount of stock and other securities and
property receivable by holders of Common Stock upon such recapitalization,
reclassification or other change, that the Holder would have received if this
Warrant had been exercised immediately prior to such recapitalization,
reclassification or change, all subject to further adjustment as provided
herein.

     

    .157 Adjustment
for Reorganizations, Mergers, Consolidations or Sales of Assets. If at any time or from time to time
on or after the Original Issuance Date there is a capital reorganization of the
Common Stock (other than a recapitalization, subdivision, combination,
reclassification or exchange of shares provided for elsewhere in this
Section
5) or a merger or
consolidation of the Company with or into another corporation, or the sale of
all or substantially all of the Company’s properties and assets to any other
person, then, as a part of such reorganization, merger, consolidation or sale,
provision shall be made so that the Holder of this Warrant shall thereafter be
entitled to receive upon exercise of this Warrant the number of shares of stock
or other securities or property to which a holder of the number of shares of
Common Stock deliverable upon conversion would have been entitled on such
capital reorganization, merger, consolidation, or sale. In any such case,
appropriate adjustment shall be made in the application of the provisions of
this Section
5 with respect to the
rights of the Holder of this Warrant after the reorganization, merger,
consolidation or sale to the end that the provisions of this Section 5 (including adjustment of the
Exercise Price then in effect and the number of shares to be received upon
exercise of this Warrant) shall be applicable after that event and be as nearly
equivalent as may be practicable.

     

    
      
         

      

      
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    .158 Adjustment for Sale of
Shares Below Conversion Price.

     

    .1 In the event the Company shall at any
time issue Additional Stock (as defined below) at a price per share less than
the Conversion Price then in effect or without consideration (a “Trigger Issuance”) then the Conversion Price then in
effect upon each such Trigger Issuance shall be adjusted to a price determined
as follows:

     

    

    
      
        	
                Conversion
      Price  =  

              	
                (A x B) + D

              	 
      
	
                   
      A + C

              

      

    

    

    Where:

    “A” equals the number of shares of
Common Stock outstanding, including Additional Stock deemed to be issued
hereunder, immediately preceding such Trigger Issuance;

    

    “B” equals the Conversion Price in
effect immediately preceding such Trigger Issuance;

     

    “C” equals the number of shares of
Additional Stock issued or deemed issued hereunder as a result of the Trigger
Issuance; and

    

    “D” equals the aggregate consideration,
if any, received or deemed to be received by the Company upon such Trigger
Issuance,

    

    provided,
however,
that in no event shall the Conversion Price after giving effect to such Trigger
Issuance be greater than the Conversion Price immediately prior to such Trigger
Issuance.

     

    .2 “Additional
Stock” shall mean Common
Stock or options, warrants or other rights to acquire or securities convertible
into or exchangeable for shares of Common Stock, including shares held in the
Company’s treasury, and shares of Common Stock issued upon the exercise of any
options, rights or warrants to subscribe for shares of Common Stock and shares
of Common Stock issued upon the direct or indirect conversion or exchange of
securities for shares of Common Stock, other than Additional
Stock:

     

    .A issued or
issuable upon conversion any Notes issued in connection with the
Offering;

     

    .B issued or
issuable upon the exercise of any Warrants and/or Agent Warrants issued in
connection with the Offering;

     

    .C issued or
issuable upon the conversion or exercise or exchange of options, warrants,
rights and other securities or debt that are outstanding on the Issue
Date;

     

    .D issued or
issuable pursuant to stock option plans which have been approved by the
Company’s directors and shareholders on or prior to the Issue Date;
or

     

    .E issued or
issuable as a result of any anti-dilution in any outstanding securities of the
Company that are outstanding on the Issue Date.

     

    .159 No
Adjustments in Certain Circumstances. No adjustment in the Exercise Price
shall be required unless such adjustment would require an increase or decrease
of at least five ($0.05) cents in such price; provided, however, that any adjustments which by
reason of this Section 5G are not required to be made shall be
carried forward and taken into account in any subsequent adjustment required to
be made hereunder. All calculations under this Section 5 shall be made to the nearest cent or
to the nearest one-hundredth of a share, as the case may be.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    .160 Certificate
as to Adjustments. Upon
the occurrence of each adjustment or readjustment of the Exercise Price pursuant
to this Section
5, the Company at its
expense shall promptly compute such adjustment or readjustment in accordance
with the terms hereof and furnish to each holder of a Warrant a certificate
setting forth such adjustment or readjustment and showing in detail the facts
upon which such adjustment or readjustment is based. The Company shall, upon the
written request at any time of any holder of a Warrant, furnish or cause to be
furnished to such holder a like certificate setting forth (i) such
adjustments and readjustments, (ii) Exercise Price at the time in effect,
and (iii) the number of shares of Common Stock and the amount, if any, of
other property which at the time would be received upon the exercise of the
Warrant.

     

    Notices
of Record Date. In case:

     

    .161 the
Company shall take a record of the holders of its Common Stock (or other stock
or securities at the time receivable upon the exercise of the Warrants) for the
purpose of entitling them to receive any dividend or other distribution, or any
right to subscribe for or purchase any shares of stock of any class or any other
securities, or to receive any other right, or

     

    .162 of
any capital reorganization of the Company, any reclassification of the capital
stock of the Company, any consolidation or merger of the Company with or into
another corporation, or any conveyance of all or substantially all of the assets
of the Company to another corporation, or

     

    .163 of
any voluntary dissolution, liquidation or winding-up of the Company, then, and
in each such case, the Company will mail or cause to be mailed to each holder of
a Warrant at the time outstanding a notice specifying, as the case may be,
(a) the date on which a record is to be taken for the purpose of such
dividend, distribution or right, and stating the amount and character of such
dividend, distribution or right, or (b) the date on which such
reorganization, reclassification, consolidation, merger, conveyance,
dissolution, liquidation or winding-up is expected to take place, and the time,
if any is to be fixed, as of which the holders of record of Common Stock (or
such stock or securities at the time receivable upon the exercise of the
Warrants) shall be entitled to exchange their shares of Common Stock (or such
other stock or securities) for securities or other property deliverable upon
such reorganization, reclassification, consolidation, merger, conveyance,
dissolution, liquidation or winding-up, such notice shall be mailed at least ten
(10) days prior to the date therein specified.

     

    Loss or Mutilation.
Upon receipt by the Company of evidence satisfactory to it (in the exercise of
reasonable discretion) of the ownership of and the loss, theft, destruction or
mutilation of any Warrant and (in the case of loss, theft or destruction) of
indemnity satisfactory to it (in the exercise of reasonable discretion), and (in
the case of mutilation) upon surrender and cancellation thereof, the Company
will execute and deliver in lieu thereof a new Warrant of like
tenor.

     

    Reservation of Common
Stock. The Company shall at all times reserve and keep available for
issue upon the exercise of Warrants such number of its authorized but unissued
shares of Common Stock as will be sufficient to permit the exercise in full of
all outstanding Warrants. All of the shares of Common Stock issuable upon the
exercise of the rights represented by this Warrant will, upon issuance and
receipt of the  Exercise Price therefor, be fully paid and
nonassessable, and free from all preemptive rights, rights of first refusal or
first offer, taxes, liens and charges of whatever nature, with respect to the
issuance thereof. 

     

    Registration
Rights.  All shares of Common Stock issuable upon exercise of
this Warrant shall have the registration rights set forth in the Registration
Rights Agreement by and between the Holder and the Company, which rights are
expressly incorporated and made a part of this Warrant.

     

    Notices. All notices
and other communications from the Company to the Holder of this Warrant shall be
mailed by first class, registered or certified mail, postage prepaid, to the
address furnished to the Company in writing by the Holder.

     

    Change; Modifications;
Waiver. No terms of this Warrant may be amended, waived or modified
except by the express written consent of the Company and the
Holder.

     

    Headings. The
headings in this Warrant are for purposes of convenience in reference only, and
shall not be deemed to constitute a part hereof.

     

    Governing Law, Etc.
This Warrant shall be governed by and construed in accordance with the internal
laws of the State of New York without regard to the conflicts of laws principles
thereof. 

     

    IN WITNESS WHEREOF, the
Company has caused this Warrant to be duly executed by its authorized officer as
of the date first indicated above.

     

    
      	
                       

            	
              ANPATH
      GROUP, INC.

            
	 
      	 
      	
                

            
	 
      	 
      	 
      
	 
      	
              By:  

            	 
      
	 
      	
              Name:

            	 
      
	 
      	
              Title:

            	 
      

    

     

    

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

    EXHIBIT
A

     

    SUBSCRIPTION
FORM

     

    (To be
executed by the Holder only upon exercise of Warrant)

     

    · The
undersigned registered owner of this Warrant irrevocably exercises this Warrant
and purchases _______ of the number of shares of Common Stock of Anpath Group,
Inc., purchasable with this Warrant, and herewith makes payment therefor, all at
the price and on the terms and conditions specified in this
Warrant.

     

    · The
Holder shall make payment of the Exercise Price as follows (check
one):

     

    · ______
“Cash Exercise” pursuant to Section 2.A of the Warrant

     

    · ______
“Net Issue Exercise Election” pursuant to Section 2.B of the
Warrant

     

    · Notwithstanding
anything to the contrary contained herein, this Exercise Notice shall constitute
a representation by the Holder that, after giving effect to the exercise
provided for in this Exercise Notice, the Holder (together with its affiliates)
will not have beneficial ownership (together with the beneficial ownership of
such Person’s affiliates) of a number of shares of Common Stock which exceeds
the Maximum Percentage of the total outstanding shares of Common Stock as
determined pursuant to the provisions of Section 2.C of the
Warrant.

     

    · The
Holder represents to the Company that, as of the date of exercise:

     

    · i.           
the shares of Common Stock being purchased pursuant to this Exercise Notice are
being acquired solely for the Holder’s own account and not as a nominee for any
other party, for investment, and not with a view toward distribution or resale;
and

     

    · ii.           the
Holder is an “accredited investor” as such term is defined in Rule 501(a)(1) of
Regulation D promulgated by the Securities and Exchange Commission under the
Securities Act.

     

    · If the
Holder cannot make the representations required above, because they are
factually incorrect, it shall be a condition to the exercise of the Warrant that
the Company receive such other representations as the Company considers
necessary, acting reasonably, to assure the Company that the issuance of
securities upon exercise of this Warrant shall not violate any United States or
other applicable securities laws.

    
      	
              Dated:

            	 
      	 
      	
              Name
      of Holder:

            	 
      
	 
      	 
      	 
      	 
      	
              (Print)

            
	 
      	 
      	 
      
	 
      	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            	 
      
	 
      	 
      	
              Title:

            	 
      
	 
      	 
      	
              (Signature
      must conform in all respects to name of holder as specified on the face of
      the Warrant)

            

    

    

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    EXHIBIT
B

     

    FORM OF
ASSIGNMENT

     

     

    · 

     

    · FOR VALUE RECEIVED the
undersigned registered owner of this Warrant hereby sells, assigns and transfers
unto the Assignee named below all of the rights of the undersigned under the
within Warrant, with respect to the number of shares of Common Stock set forth
below:

     

    
      	
              Name
      of Assignee

            	 
      	
              Address

            	 
      	
              Number
      of Shares

            

    

    

    and does
hereby irrevocably constitute and appoint __________________________ Attorney to
make such transfer on the books of Anpath Group, Inc., maintained for the
purpose, with full power of substitution in the premises.

     

    
      	
               Dated:

            	 
      	 
      	 
      
	 
      	 
      	 
      	
              (Signature)

            
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
              (Witness)

            
	 
      	 
      	 
      

    

    

    The undersigned Assignee of the Warrant
hereby makes to Anpath Group, Inc., as of the date hereof, with respect to the
Assignee, all of the representations and warranties made by the Holder, and the
undersigned Assignee agrees to be bound by all the terms and conditions of the
Warrant.

    

    
      	
               Dated:

            	 
      	 
      	 
      
	 
      	 
      	 
      	
              (Signature)

            
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      

    

    

    

    
      
         

      

      
        8ex10-23.htm

    EXHIBIT 10.23

     

    

    Form of
Registration Rights Agreement between the Company and each of the investors in
the Company’s December 2008 offering

     

     

     

     

     

     

     

     

     

     

     

    

    
      
        
           

        

        
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    REGISTRATION
RIGHTS AGREEMENT

     

    This
REGISTRATION RIGHTS AGREEMENT (this “Agreement”)
is made as of _____________, 200__, by and among Anpath Group, Inc., a Delaware
corporation (the “Company”)
and each purchaser of securities of the Company pursuant to a Subscription
Agreement (as defined below) (each an “Investor”
and, collectively, the “Investors”).

     

    WHEREAS, the Company has
agreed to issue and sell to the Investors (the “Offering”),
and the Investors have agreed to purchase from the Company, an aggregate of up
to five hundred (500) units (each a “Unit”
and, collectively, the “Units”)
for an aggregate purchase price of $5,000,000 (the “Offering
Amount”), priced at $10,000 per Unit, with each Unit consisting of (i) a
$10,000 aggregate principal amount eight (8%) percent convertible promissory
note (each a “Note,”
and, collectively, the “Notes”)
of the Company, convertible into shares (the “Conversion
Shares”) of the Company’s common stock, $0.0001 par value per share (the
“Common
Stock”) and (ii) a warrant (each a “Warrant”
and, collectively, the “Warrants”),
to purchase shares (the “Warrant
Shares”) of Common Stock as provided in Subscription Agreements between
the Company and each of the Investors (the “Subscription
Agreement”); and

    

    WHEREAS, the Company has
agreed to provide certain registration rights with respect to the resale of (i)
the Conversion Shares and (ii) the Warrant Shares, all on the terms and
conditions provided herein; and

     

                WHEREAS, the terms of the
Subscription Agreement provide that it shall be a condition precedent to the
closing of the transactions thereunder, for the Company and the Investors to
execute and deliver this Agreement.

     

    NOW, THEREFORE, in
consideration of the promises and mutual covenants contained herein, the parties
hereto hereby agree as follows:

     

    DEFINITIONS. The
following terms shall have the meanings provided therefor below or elsewhere in
this Agreement as described below:

     

    .164 “Business Day” means any day that is not a
Saturday or Sunday, or a day on which banks are required or permitted to be
closed in the State of North Carolina.

     

    .165 “Closing” shall have the meaning ascribed to
such term in the Subscription Agreement.

     

    .166 “Conversion
Shares” as defined in
the preamble.

     

    .167 “Effectiveness
Date” means, with
respect to the Initial Registration Statement, the earlier of: (i) (a) in the
event that the Registration Statement is not subject to review by the SEC, the
one hundred twentieth (120th) calendar day after the Final
Closing Date and (b) in the event that the Registration Statement is subject to
review by the SEC, the one hundred sixtieth (160th) calendar day after the Final
Closing Dateand (ii) the fifth Trading Day following the date on which the
Company is notified by the SEC that the effectiveness of the Registration
Statement may be accelerated and, with respect to any additional Registration
Statements which may be required to be filed hereunder pursuant to Section 3(d)
or otherwise, the earlier of: (i) (a) in the event that the Registration
Statement is not subject to review by the SEC, the one hundred twentieth
(120th) calendar day after the date on
which the Registration Statement is required to be filed hereunder and (b) in
the event that the Registration Statement is subject to review by the SEC, the
one hundred sixtieth (160th) calendar day after the date such
additional Registration Statement is required to be filed hereunder and (ii) the
seventh Trading Day following the date on which the Company is notified by the
SEC that the effectiveness of such additional Registration Statement may be
accelerated; provided, however, that if the Effectiveness Date falls on a
Saturday, Sunday or other day, that the SEC is closed for business the
Effectiveness Date shall be extended to the next Business
Day.

     

    .168 “Exchange Act” shall mean the Securities Exchange
Act of 1934, as amended, and all of the rules and regulations promulgated
thereunder.

     

    .169 “Filing Date” shall mean, with respect to the
Initial Registration Statement, the date that is forty-five (45) calendar days
after the date of the Final Closing Date, provided, however, that if the Filing Date falls on a
Saturday, Sunday or other day that the SEC is closed for business, the Filing
Date shall be extended to the next Business Day.

     

    .170 “Final Closing” shall have the meaning ascribed to
such term in the Subscription Agreement.

     

    .171 “Initial Closing” shall have the meaning ascribed to
such term in the Subscription Agreement.

     

    .172 “Holder” or “Holders” shall mean the holder or holders,
as the case may be, from time to time of Registrable
Securities.

     

    .173 “Initial Registration
Statement” shall mean
the initial Registration Statement filed pursuant to this
Agreement.

     

    
      
         

      

      
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    .174 “Investors” as defined in the preamble;
provided, however, that the term “Investors” shall not
include any Investors that do not own or hold any Registrable
Securities.

     

    .175 “Person” means an individual or corporation,
partnership, trust, incorporated or unincorporated association, joint venture,
limited liability company, joint stock company, government (or agency or
subdivision thereof) or other entity of any kind.

     

    .176 “Registrable
Securities” shall mean
the Conversion Shares and the Warrant Shares.

     

    .177 “Registration
Statement” means any one
or more registration statements required to be filed pursuant hereto with the
SEC by the Company on Form S-3, or in the event the Company is not eligible to
use Form S-3, on Form S-1, for the purpose of registering the Registrable
Securities, including (in each case) the prospectus, amendments and supplements
to such registration statement or prospectus, including pre- and post-effective
amendments, all exhibits thereto, and all material incorporated by reference or
deemed to be incorporated by reference in such registration
statement.

     

    .178 “Rule 144” shall mean Rule 144 promulgated by
the SEC pursuant to the Securities Act and any successor or substitute rule, law
or provision.

     

    .179 “Rule 172” means Rule 172 promulgated by
the SEC pursuant to the Securities Act, as such Rule may be amended from time to
time, or any similar rule or regulation hereafter adopted by the SEC having
substantially the same purpose and effect as such Rule.

     

    .180 “Rule 424” means Rule 424 promulgated by
the SEC pursuant to the Securities Act, as such Rule may be amended from time to
time, or any similar rule or regulation hereafter adopted by the SEC having
substantially the same purpose and effect as such Rule.

     

    .181 “SEC” shall mean the United States
Securities and Exchange Commission.

     

    .182 “SEC Guidance” means (i) any
publicly-available written guidance, or rule of general applicability of the SEC
staff, or (ii) oral or written comments, requirements or requests of the SEC
staff to the Company in connection with the review of a Registration
Statement.

     

    .183 “Securities” shall mean the Units, the Notes,
the Conversion Shares, the Warrants, and the Warrant Shares.

     

    .184 “Securities Act” shall mean the Securities Act of
1933, as amended, and all of the rules and regulations promulgated
thereunder.

     

    .185 “Trading Day” means (a) if the Common Stock is
listed or quoted on the NASDAQ Market or NYSE Alternext (formerly known as the
American Stock Exchange), then any day during which securities are generally
eligible for trading on the NASDAQ Market or NYSE Alternext, or (b) if the
Common Stock is not then listed or quoted and traded on the NASDAQ Market or
NYSE Alternext, then any Business Day.

     

    .186 “Warrant Shares” as defined in the
preamble. 

     

    

    
      
        
           

        

        
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    EFFECTIVENESS. This
Agreement shall become effective and legally binding only if the First Closing
occurs.

     

    MANDATORY
REGISTRATION.  

     

    .187 The Company shall be required to file
an Initial Registration Statement on or prior to the Filing Date registering the
Registrable Securities for resale by the Holders as selling stockholders
thereunder.  On or prior to the Filing Date, the Company shall prepare
and file with the SEC an Initial Registration Statement for the purpose of
registering under the Securities Act the resale of all, or such portion as
permitted by SEC Guidance of the Registrable Securities by, and for the account
of, the Holders as selling stockholders thereunder, that are not then registered
on an effective Registration Statement for an offering to be made on a
continuous basis pursuant to Rule 415.  No other securities shall
be included in the Initial Registration Statement that is filed except for the
Registrable Securities. Each Registration Statement (including the Initial
Registration Statement) shall contain the “Plan of Distribution” in
substantially the form of attached to the Selling Stockholder Questionnaire
attached hereto as Exhibit A (except if otherwise required
pursuant to SEC Guidance). The Company shall cause a Registration Statement to
be declared effective by the SEC under the Securities Act as promptly as
practicable after the filing thereof, but in any event on or prior to the
applicable Effectiveness Date.

     

    .188 The Company shall be required to keep
a Registration Statement effective until such date that is the earlier of (i)
the date that is twelve (12) months after the effective date of the Registration
Statement or (ii) the date when all of the Registrable Securities registered
thereunder shall have been sold (the “Effectiveness
Period”). Thereafter,
the Company shall be entitled to withdraw such Registration Statement and the
Holders shall have no further right to offer or sell any of the Registrable
Securities registered for resale thereon pursuant to the respective Registration
Statement (or any prospectus relating thereto).

     

    .189 Notwithstanding
any other provision of this Agreement, if any SEC Guidance sets forth a
limitation on the number of Registrable Securities to be registered in the
Initial Registration Statement, the number of Registrable Securities to be
registered for each Holder on such Registration Statement will be reduced on a
pro-rata basis.  The Company shall file a new Registration Statement
as soon as reasonably practicable covering the resale by the Holders of not less
than the number of such Registrable Securities that are not registered in the
Initial Registration Statement.  The Company shall not be liable for
liquidated damages under Section 5(a) as to
any Registrable Securities which are not permitted by the SEC to be included in
a Registration Statement due to SEC Guidance.  In such case, any
liquidated damages payable under Section 5(a) shall be
calculated to apply only the percentage of Registrable Securities which are
permitted in accordance with SEC Guidance to be included in such Registration
Statement.

     

    .190 If
during the Effectiveness Period, subject to Section 3(a) and
Section 3(c),
the Company becomes aware that the number of Registrable Securities at any time
exceeds the number of Registrable Securities then registered for resale in a
Registration Statement, then the Company shall file as soon as reasonably
practicable an additional Registration Statement covering the resale by the
Holders of not less than the number of such Registrable Securities that are not
then registered.

     

    .191 Notwithstanding any other provision
of this Agreement, if during the Effectiveness Period any of the Registrable
Securities become eligible for resale without restriction pursuant to Rule 144
(the “Rule 144
Eligible Securities”)
then the number of Registrable Securities outstanding at any one time shall be
reduced by the number of Rule 144 Eligible Securities and the Company may at its
option file an amendment to any Registration Statement to reduce the number of
Registrable Securities accordingly.  The Company acknowledges that the
Company’s obligation to file its periodic disclosure documents for the twelve
(12) month period preceding the date of sale is a “restriction” as that term is
used in the first sentence of this Section
3(e).

     

    PIGGYBACK
REGISTRATION.

     

    .192 If, at any time, commencing on the
date of the Final Closing Date, the Company proposes to prepare and file with
the SEC a registration statement under the Securities Act, the Company will give
written notice to each Holder of its intention to do so pursuant to Section
15(c) and shall include
all of the Registrable Securities in such registration statement; provided, however, that in connection with any
offering involving an underwriting of shares of Common Stock, the Company shall
not be required to include the Registrable Securities of any Holder in such
registration statement unless such Holder accepts the terms of the underwriting
as agreed upon between the Company and its underwriters, and then only in such
quantity as the underwriters determine in their sole discretion will not
jeopardize the success of the offering by the Company.  In the event
that the underwriters determine that less than all of the Registrable Securities
required to be registered can be included in such offering, then the Registrable
Securities that are included shall be apportioned to the Holders on a pro-rata
basis.  The Company shall use its best efforts to effect the
registration under the Securities Act of the Registrable Securities at the
Company’s sole cost and expense (other than any commission, discounts or counsel
fees payable by the Holders, as further provided in Section
7
hereof).

     

    .193 Notwithstanding
the preceding provision of this Section 4, the
Company shall have the right any time after it shall have given written notice
pursuant to this Section 4
(irrespective of whether any written request for inclusion of such securities
shall have already been made) to elect not to file any proposed registration
statement, or to withdraw the same after the filing but prior to the effective
date thereof.

     

    .194 The
Company shall use its commercially reasonable efforts to cause the registration
statement filed pursuant to this Section 4 to become
effective as promptly as possible under the circumstances at the time prevailing
and, if any stop order shall be issued by the SEC in connection therewith, to
use its reasonable efforts to obtain the removal of such order.

     

    .195 To
the extent any Registrable Securities of the Holders are included in such
registration statement, the Company shall notify each Holder by facsimile or
e-mail as promptly as practicable, and in any event, within two (2) Trading
Days, after such registration statement is declared effective and shall
simultaneously provide the Holders with a copy of any related prospectus to be
used in connection with the sale or other disposition of the Registrable
Securities covered thereby.

     

    
      
         

      

      
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    PENALTIES/SUSPENSION OF A
REGISTRATION STATEMENT.

     

    .196 If: (i) the Initial Registration
Statement or any other Registration Statement is not filed on or prior to the
Filing Date or, (ii) the Initial Registration Statement or any other
Registration Statement is not declared effective (or otherwise does not become
effective) on or prior to the Effectiveness Date (any such failure being
referred to as an “Event,” and the date on which such Event
occurs being referred to as “Event Date”), then, in addition to any other
rights the Investors may have hereunder or under applicable law, on each such
Event Date and on each monthly anniversary of each such Event Date (if the
applicable Event shall not have been cured by such date) until the applicable
Event is cured, the Company shall pay to each Investor on a monthly basis within
five (5) Business Days of the end of the month an amount in cash, as partial
liquidated damages and not as a penalty, equal to one-half of one percent (0.5%)
of the aggregate purchase price paid by such Investor pursuant to the
Subscription Agreement for any Registrable Securities then held by such Investor
that are not then eligible for resale pursuant to the Initial Registration
Statement or other Registration Statement. The parties agree that the maximum
aggregate liquidated damages payable to an Investor under this Agreement shall
be six (6%) percent of the aggregate amount paid by such Investor for its
respective Securities pursuant to the Subscription Agreement. The partial
liquidated damages pursuant to the terms hereof shall apply on a daily pro-rata
basis for any portion of a month prior to the cure of an
Event.

     

    .197 The
Company shall notify each Holder by facsimile or e-mail as promptly as
practicable, and in any event, within two (2) Trading Days, after a Registration
Statement is declared effective and shall simultaneously provide the Holders
with a copy of any related prospectus to be used in connection with the sale or
other disposition of the Registrable Securities covered thereby.

     

    .198 No
Investor shall be entitled to a payment pursuant to this Section 5 if
effectiveness of a Registration Statement has been delayed or a prospectus has
been unavailable as a result of (i) a failure by such Investor to promptly
provide on request by the Company the information required under the
Subscription Agreement or this Agreement or requested by the SEC as a condition
to effectiveness of a Registration Statement; (ii) the provision of inaccurate
or incomplete information by such Investor; or (iii) a statement or
determination of the SEC that any provision of the rights of the Investor under
this Agreement are contrary to the provisions of the Securities
Act.

     

    OBLIGATIONS OF THE
COMPANY. In the event the Company files a Registration Statement with the
SEC in connection with Section 3 or Section 4 hereof that
covers the Registrable Securities and uses its reasonable efforts to cause a
Registration Statement to become effective, the Company shall:

     

    .199  Use
reasonable efforts to prepare and file with the SEC such amendments and
supplements to a Registration Statement and the prospectus used in connection
therewith as may be necessary to comply with the provisions of the Securities
Act with respect to the disposition of all Registrable Securities covered by a
Registration Statement;

     

    .200  Furnish
to the selling Holders such number of copies of a prospectus, including a
preliminary prospectus, in conformity with the requirements of the Securities
Act, and such other documents (including, without limitation, prospectus
amendments and supplements as are prepared by the Company in accordance with
Section 6(a)
above) as the selling Holders may reasonably request in order to facilitate the
disposition of such selling Holders’ Registrable Securities;

     

    .201  Use
reasonable efforts to comply with all applicable rules and regulations of the
SEC under the Securities Act and the Exchange Act, including, without
limitation, Rule 172 under the Securities Act, file any final prospectus,
including any supplement or amendment thereof, with the SEC pursuant to Rule 424
under the Securities Act, promptly inform the Holders in writing if, at any time
during a period of effectiveness, the Company does not satisfy the conditions
specified in Rule 172 and, as a result thereof, the Holders are required to
deliver a prospectus in connection with any disposition of Registrable
Securities; notify the selling Holders of the happening of any event as a result
of which the prospectus included in or relating to a Registration Statement
contains an untrue statement of a material fact or omits any fact necessary to
make the statements therein not misleading; and, thereafter, subject to Section 12 hereof,
the Company will promptly prepare (and, when completed, give notice and provide
a copy thereof to each selling Holder) a supplement or amendment to such
prospectus so that such prospectus will not contain an untrue statement of a
material fact or omit to state any fact necessary to make the statements therein
not misleading; provided, however, that upon
such notification by the Company (which shall be a Suspension pursuant to Section 12), the
selling Holders will not offer or sell Registrable Securities until the Company
has notified the selling Holders that it has prepared a supplement or amendment
to such prospectus and filed it with the SEC or, if the Company does not then
meet the conditions for the use of Rule 172, delivered copies of such supplement
or amendment to the selling Holders (it being understood and agreed by the
Company that the foregoing provision shall in no way diminish or otherwise
impair the Company’s obligation to promptly prepare a prospectus amendment or
supplement as above provided in this Section 6(c) and
deliver copies of same as above provided in Section 6(b) hereof);
and

     

    .202  Use
reasonable efforts to register and qualify the Registrable Securities covered by
a Registration Statement under such other securities or blue sky laws of such
states as shall be reasonably appropriate in the opinion of the Company, provided, however, that the
Company shall not be required in connection therewith or as a condition thereto
to qualify to do business or to file a general consent to service of process in
any such states or jurisdictions, and provided further that
(notwithstanding anything in this Agreement to the contrary with respect to the
bearing of expenses) if any jurisdiction in which any of such Registrable
Securities shall be qualified shall require that expenses incurred in connection
with the qualification therein of any such Registrable Securities be borne by
the selling Holders, then the selling Holders shall, to the extent required by
such jurisdiction, pay their pro-rata share of such qualification
expenses.

     

    
      
         

      

      
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    .203 Subject
to the terms and conditions of this Agreement, including Section 3 and Section 4 hereof, the
Company shall use its reasonable efforts to (i) prevent the issuance of any stop
order or other suspension of effectiveness of a Registration Statement, or the
suspension of the qualification of any of the Registrable Securities for sale in
any jurisdiction in the United States, and (ii) if such an order or suspension
is issued, obtain the withdrawal of such order or suspension at the earliest
practicable moment and notify each Holder of Registrable Securities of the
issuance of such order and the resolution thereof or its receipt of notice of
the initiation or threat of any proceeding such purpose.

     

    .204  The Company shall comply with
all requirements of the Financial Industry Regulatory Authority, Inc.
(“FINRA”) with regard to the issuance of the
Registrable Securities and the listing thereof on the OTC Bulletin Board and
such other securities exchange or automated quotation system, as
applicable.

     

    OBLIGATIONS OF THE
HOLDERS.

     

    .205 It shall be a condition precedent to
the obligations of the Company to take any action pursuant to this Agreement
that each of the selling Holders shall furnish to the Company a completed
Selling Stockholder Questionnaire in the form attached as Exhibit A hereto (the “Selling Stockholder
Questionnaire”) and such
other information regarding them and the Securities held by them as the Company
shall reasonably request and as shall be required in order to effect any
registration by the Company pursuant to this Agreement. The Company shall not be
required to include the Registrable Securities of any Holder who fails to
furnish to the Company a fully completed Selling Stockholder Questionnaire at
least ten (10) Trading Days prior to the Filing Date. Additionally, each Holder
shall promptly notify the Company of any changes in the information furnished in
the Selling Stockholder Questionnaire or otherwise to the
Company.

     

    .206 Each
Holder agrees to cooperate with the Company as reasonably requested by the
Company in connection with the filing of any Registration Statement hereunder,
unless such Holder has notified the Company in writing that such Holder elects
to exclude all of its Registrable Securities from such Registration
Statement.

     

    .207 Each
Holder agrees that, upon receipt of any notice from the Company of the happening
of any event of the kind described in Section 6(c), each
Holder shall immediately discontinue disposition of Registrable Securities
pursuant to any Registration Statement covering such Registrable Securities
until such Holders receipt of the copies of the supplemented or amended
prospectus contemplated by Section 6(c) or
receipt of notice that no supplement or amendment is required.

     

    .208 Each
Holder covenants and agrees that it will comply with the prospectus delivery
requirements of the Securities Act as applicable to it or an exemption therefrom
in connection with sale of Registrable Securities pursuant to any Registration
Statement.

     

     EXPENSES OF
REGISTRATION. 

     

    .209 Except
as set forth in Section 6(d), all
expenses incurred in connection with the registration of the Registrable
Securities pursuant to this Agreement (excluding underwriting, brokerage and
other selling commissions and discounts), including without limitation all
registration and qualification and filing fees, printing, fees and disbursements
of counsel for the Company shall be borne by the Company; provided, however, the Holders
shall be required to pay the expenses of counsel and any other advisors for the
Holders and any brokerage or other selling discounts or commissions and any
other expenses incurred by the Holders for their own account.

     

    .210 Until
such time as all of the Registrable Securities have been sold pursuant to an
effective Registration Statement, the Company shall take such reasonable action
as the Holder may request, all to the extent required from time to time to
enable such Holder to sell the Registrable Securities without registration under
the Securities Act pursuant to the provisions of Rule 144 under the
Securities Act (or any successor provision), provided, however, that it
shall be the Holder’s sole responsibility to obtain any required legal opinions
and pay any and all fees and expenses related to obtaining any legal opinions,
including, but not limited to legal counsel fees.

     

    DELAY OF
REGISTRATION. The Holders shall not take any action to restrain, enjoin
or otherwise delay any registration as the result of any controversy which might
arise with respect to the interpretation or implementation of this
Agreement.

     

    
      
         

      

      
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    INDEMNIFICATION.

     

    .211  To the extent permitted by law,
the Company will indemnify and hold harmless each selling Holder, and each
officer and director of such selling Holder and each person, if any, who
controls such selling Holder, within the meaning of the Securities Act, against
any losses, claims, damages or liabilities, joint or several, to which they may
become subject under the Securities Act or otherwise, insofar as such losses,
claims, damages or liabilities (or actions in respect thereof) arise out of or
are based upon (i) any untrue or alleged untrue statement of any material fact
contained in a Registration Statement, in any preliminary prospectus or final
prospectus relating thereto or in any amendments or supplements to a
Registration Statement or any such preliminary prospectus or final prospectus,
or arise out of or are based upon the omission or alleged omission to state
therein a material fact required to be stated therein, or necessary to make the
statements therein not misleading; (ii) any blue sky application or other
document executed by the Company specifically for that purpose or based upon
written information furnished by the Company filed in any state or other
jurisdiction in order to qualify any or all of the Registrable Securities under
the securities laws thereof (any such application, document or information
herein called a “Blue Sky
Application”); (iii) the
omission or alleged omission to state in a Blue Sky Application a material fact
required to be stated therein or necessary to make the statements therein not
misleading; (iv) any violation by the Company or its agents of any rule or
regulation promulgated under the Securities Act applicable to the Company or its
agents and relating to action or inaction required of the Company in connection
with such registration of the Registrable Securities; or (v) any failure to
register or qualify the Registrable Securities included in any such Registration
Statement in any state where the Company or its agents has affirmatively
undertaken or agreed in writing that the Company will undertake such
registration or qualification on a Holder’s behalf; and will reimburse such
selling Holder, or such officer, director or controlling person for any legal or
other expenses reasonably incurred by them in connection with investigating or
defending any such loss, claim, damage, liability or action; provided, however, that the indemnity agreement
contained in this Section
10(a) shall not apply to
amounts paid in settlement of any such loss, claim, damage, liability or action
if such settlement is effected without the consent of the Company (which consent
shall not be unreasonably withheld), nor shall the Company be liable in any such
case for any such loss, damage, liability or action to the extent that it arises
out of or is based upon (i) an untrue statement or alleged untrue statement or
omission made in connection with a Registration Statement, any preliminary
prospectus or final prospectus relating thereto or any amendments or supplements
to a Registration Statement or any such preliminary prospectus or final
prospectus, in reliance upon and in conformity with written information
furnished expressly for use in connection with a Registration Statement or any
such preliminary prospectus or final prospectus by the selling Holders or (ii)
at any time when the Company has advised the Holder in writing that the Company
does not meet the conditions for use of Rule 172 and as a result that the Holder
is required to deliver a current prospectus in connection with any disposition
of Registrable Securities, an untrue statement or alleged untrue statement or
omission in a prospectus that is (whether preliminary or final) corrected in any
subsequent amendment or supplement to such prospectus that was delivered to the
selling Holder before the pertinent sale or sales by the selling
Holder.

     

    .212 To the extent permitted by law, each selling Holder will
severally and not jointly indemnify and hold harmless the Company, each of its
directors, each of its officers who have signed a Registration Statement, each
person, if any, who controls the Company within the meaning of the Securities
Act, against any losses, claims, damages or liabilities to which the Company or
any such director, officer, controlling person, may become subject to, under the
Securities Act or otherwise, insofar as such losses, claims, damages or
liabilities (or actions in respect thereto) arise out of or are based upon any
untrue or alleged untrue statement of any material fact contained in a
Registration Statement or any preliminary prospectus or final prospectus,
relating thereto or in any amendments or supplements to a Registration Statement
or any such preliminary prospectus or final prospectus, or arise out of or are
based upon the omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein not
misleading, in each case to the extent and only to the extent that such untrue
statement or alleged untrue statement or omission or alleged omission (i) was
made in a Registration Statement, in any preliminary prospectus or final
prospectus relating thereto or in any amendments or supplements to a
Registration Statement or any such preliminary prospectus or final prospectus,
in reliance upon and in conformity with written information furnished by the
selling Holder expressly for use in connection with a Registration Statement, or
any preliminary prospectus or final prospectus or (ii) at any time when the
Company has advised the Holder in writing that the Company does not meet the
conditions for use of Rule 172 and as a result that the Holder is required to
deliver a current prospectus in connection with any disposition of Registrable
Securities, was corrected in any subsequent amendment or supplement to such
prospectus that was delivered to the selling Holder before the pertinent sale or
sales by the selling Holder; and such selling Holder will reimburse any legal or
other expenses reasonably incurred by the Company or any such director, officer,
controlling person, or other selling Holder in connection with investigating or
defending any such loss, claim, damage, liability or action; provided, however, that the
liability of each selling Holder hereunder shall be limited to the net proceeds
received by such selling Holder from the sale of Registrable Securities giving
rise to such liability, and provided further,  that
the indemnity agreement contained in this Section 10(b) shall
not apply to amounts paid in settlement of any such loss, claim, damage,
liability or action if such settlement is effected without the consent of those
selling Holder(s) against which the request for indemnity is being made (which
consent shall not be unreasonably withheld).

     

    .213  Promptly
after receipt by an indemnified party under this Section 10 of notice
of the commencement of any action, such indemnified party will, if a claim in
respect thereof is to be made against any indemnifying party under this Section 10, notify
the indemnifying party in writing of the commencement thereof and the
indemnifying party shall have the right to participate in and, to the extent the
indemnifying party desires, jointly with any other indemnifying party similarly
noticed, to assume at its expense the defense thereof with counsel satisfactory
to the indemnifying party or indemnifying parties, but the omission so to notify
the indemnifying party will not relieve it from any liability which it may have
to any indemnified party for contribution or otherwise under the indemnity
agreement contained in this Section 10 (except to
the extent that such omission materially and adversely affects the indemnifying
person’s ability to defend such action). In the event that the indemnifying
party assumes any such defense, the indemnified party may participate in such
defense with its own counsel and at its own expense, provided, however, if the
defendants in any such action include both the indemnified party and the
indemnifying party and the indemnified party shall have reasonably concluded,
based on an opinion of counsel reasonably satisfactory to the indemnifying
party, that there may be a conflict of interest between the positions of the
indemnifying party and the indemnified party in conducting the defense of any
such action or that there may be legal defenses available to it and/or other
indemnified parties which are different from or additional to those available to
the indemnifying party, the indemnified party or parties shall have the right to
select separate counsel to assume such legal defenses and to otherwise
participate in the defense of such action on behalf of such indemnified party or
parties. Upon receipt of notice from the indemnifying party to such indemnified
party of its election to assume the defense of such action and approval by the
indemnified party of counsel, the indemnifying party will not be liable to such
indemnified party under this Section 10 for any
legal or other expenses subsequently incurred by such indemnified party in
connection with the defense thereof unless the indemnified party shall have
employed such counsel in connection with the assumption of legal defenses in
accordance with the proviso to the preceding sentence (it being understood,
however, that the indemnifying party shall not be liable for the expenses of
more than one separate counsel and one local counsel, reasonably satisfactory to
such indemnifying party, representing all of the indemnified parties who are
parties to such action in which case the reasonable fees and expenses of counsel
shall be at the expense of the indemnifying party.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    .214 Notwithstanding anything to the contrary herein, the indemnifying
party shall not be entitled to settle any claim, suit or proceeding unless in
connection with such settlement the indemnified party receives an unconditional
release with respect to the subject matter of such claim, suit or proceeding and
such settlement does not contain any admission of fault by the indemnified
party.

     

    .215  If
the indemnification provided for in this Section 10 is
unavailable to or insufficient to hold harmless an indemnified party under
subsection (a) or (b) above in respect of any losses, claims, damages or
liabilities (or actions or proceedings in respect thereof) referred to therein,
then each indemnifying party shall contribute to the amount paid or payable by
such indemnified party as a result of such losses, claims, damages or
liabilities (or actions in respect thereof) in such proportion as is appropriate
to reflect the relative fault of the Company on the one hand and the Holders on
the other in connection with the statements or omissions or other matters which
resulted in such losses, claims, damages or liabilities (or actions in respect
thereof), as well as any other relevant equitable considerations. The relative
fault shall be determined by reference to, among other things, in the case of an
untrue statement, whether the untrue statement relates to information supplied
by the Company on the one hand or a Holder on the other and the parties’
relative intent, knowledge, access to information and opportunity to correct or
prevent such untrue statement. The Company and the Holders agree that it would
not be just and equitable if contribution pursuant to this subsection (e) were
determined by pro-rata allocation (even if the Holders were treated as one
entity for such purpose) or by any other method of allocation which does not
take into account the equitable considerations referred to above in this
subsection (e). The amount paid or payable by an indemnified party as a result
of the losses, claims, damages or liabilities (or actions in respect thereof)
referred to above in this subsection (e) shall be deemed to include any legal or
other expenses reasonably incurred by such indemnified party in connection with
investigating or defending any such action or claim. No person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not
guilty of such fraudulent misrepresentation. The Holders’ obligations in this
subsection to contribute are several in proportion to their sales of Registrable
Securities to which such loss relates and not joint. In no event shall the
contribution obligation of a Holder be greater in amount than the dollar amount
of the net proceeds (net of all expenses paid by such Holder in connection with
any claim relating to this Section 10 and the
amount of any damages such Holder has otherwise been required to pay by reason
of such untrue or alleged untrue statement or omission or alleged omission)
received by it upon the sale of the Registrable Securities giving rise to such
contribution obligation.

     

    .216  The parties to this Agreement hereby acknowledge that they are
sophisticated business persons who were represented by counsel during the
negotiations regarding the provisions hereof including, without limitation, the
provisions of this Section 10, and are
fully informed regarding said provisions. They further acknowledge that the
provisions of this Section 10 fairly
allocate the risks in light of the ability of the parties to investigate the
Company and its business in order to assure that adequate disclosure is made in
a Registration Statement as required by the Securities Act and the Exchange
Act.

     

     REPORTS UNDER THE EXCHANGE
ACT. With a view to making available to the Holders the benefits of Rule
144 and any other rule or regulation of the SEC that may at any time permit the
Holders to sell the Registrable Securities to the public without registration,
during the two (2) year period after the Final Closing Date, the Company agrees
to use reasonable efforts: (i) to make and keep public information available as
those terms are understood in Rule 144, and (ii) to file with the SEC in a
timely manner all reports and other documents required to be filed by an issuer
of securities registered under the Securities Act or the Exchange Act pursuant
to Rule 144, and (iii) undertake any additional actions reasonably necessary to
maintain the availability of the use of Rule 144.

     

     SUSPENSION. Notwithstanding anything in this
Agreement to the contrary, in the event (i) of any non-voluntary demand on the
Company by the SEC or any other federal or state governmental authority during
the period of effectiveness of a Registration Statement for amendments or
supplements to a Registration Statement or related prospectus or for additional
information; (ii) of the issuance by the SEC or any other federal or state
governmental authority of any stop order suspending the effectiveness of a
Registration Statement or the initiation of any proceedings for that purpose;
(iii) of the receipt by the Company of any notification with respect to the
suspension of the qualification or exemption from qualification of any of the
Registrable Securities for sale in any jurisdiction or the initiation of any
proceeding for such purpose; or (iv) of any event or circumstance which requires
to comply with applicable law the making of any changes in a Registration
Statement or related prospectus, or any document incorporated or deemed to be
incorporated therein by reference, so that, in the case of a Registration
Statement, it will not contain any untrue statement of a material fact or any
omission to state a material fact required to be stated therein or necessary to
make the statements therein not misleading, and that in the case of the
prospectus, it will not contain any untrue statement of a material fact or any
omission to state a material fact required to be stated therein or necessary to
make the statements therein, in the light of the circumstances under which they
were made, not misleading, then the Company shall furnish to the selling Holders
a certificate signed by the Chief Executive Officer or Chief Financial Officer
of the Company setting forth in detail the facts relating to one or more of the
above described circumstances, and the right of the selling Holders to use a
Registration Statement (and the prospectus relating thereto) shall be suspended
for a period (the “Suspension
Period”) of not more
than ten (10) days after delivery by the Company of the certificate referred to
above in this Section
12. During the
Suspension Period, none of the Holders shall offer or sell any Registrable
Securities pursuant to or in reliance upon a Registration Statement (or the
prospectus relating thereto). The Company shall use its best efforts to
terminate any Suspension Period as promptly as practicable.

     

    TRANSFER
OF REGISTRATION RIGHTS.
A Holder shall have the right and may transfer or assign, at any time and from
time to time, in whole or in part, to one or more Persons its rights hereunder
in connection with the transfer of the Registrable Securities by such Holder to
such person, provided that (a) such Holder complies with all laws applicable
thereto, (b) the Company is furnished with written notice of the name and
address of such transferee or assignee and the Registrable Securities to which
such registration rights are being transferred, (c) at or before the time the
Company received the written notice contemplated by clause (b) of this sentence
the transferee or assignee agrees in writing (i) that it is an “accredited
investor” as that term is defined in Rule 501 of Regulation D and (ii) to be
bound by, all of the terms and conditions of, this Agreement by duly executing
and delivering to the Company an Instrument of Adherence in the form attached as
Exhibit B hereto and a Selling Stockholder
Questionnaire in the form attached as Exhibit A hereto.

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    ENTIRE AGREEMENT.
This Agreement, the Notes, the Warrants, the Subscription Agreement and all
other documents relating to the Offering (and all exhibits and supplements to
such documents) constitute and contain the entire agreement and understanding of
the parties with respect to the subject matter hereof, and supersede any and all
prior negotiations, correspondence, agreements or understandings with respect to
the subject matter hereof.

    

      MISCELLANEOUS.

     

    .217  This
Agreement may not be amended, modified or terminated, and no rights or
provisions may be waived, except with the written consent of the
Company.

     

    .218  This Agreement shall be
governed by and construed exclusively in accordance with the internal laws of
the State of New York without regard to the conflicts of laws principles
thereof. The parties hereto hereby irrevocably agree that any suit or proceeding
arising directly and/or indirectly pursuant to or under this Agreement, shall be
brought solely in a federal or state court located in the City, County and State
of New York. By its execution hereof, the parties hereby covenant and
irrevocably submit to the in personam jurisdiction of the federal and
state courts located in the City, County and State of New York and agree that
any process in any such action may be served upon any of them personally, or by
certified mail or registered mail upon them or their agent, return receipt
requested, with the same full force and effect as if personally served upon them
in New York City. The parties hereto waive any claim that any such jurisdiction
is not a convenient forum for any such suit or proceeding and any defense or
lack of in
personam jurisdiction
with respect thereto. In the event of any such action or proceeding, the party
prevailing therein shall be entitled to payment from the other party hereto of
its reasonable counsel fees and disbursements. EACH OF THE PARTIES HERETO
WAIVES ANY RIGHT TO REQUEST A TRIAL BY JURY IN ANY LITIGATION WITH RESPECT TO
THIS AGREEMENT AND REPRESENTS THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO
THIS WAIVER.

     

    .219 Any
notices, reports or other correspondence (hereinafter collectively referred to
as “correspondence”) required or permitted to be given hereunder shall be in
writing and shall be sent by postage prepaid first class mail, courier or
telecopy or delivered by hand to the party to whom such correspondence is
required or permitted to be given hereunder, and shall be deemed sufficient upon
receipt when delivered personally or by courier, overnight delivery service or
confirmed facsimile, or three (3) business days after being deposited in the
regular mail as certified or registered mail (airmail if sent internationally)
with postage prepaid, if such notice is addressed to the party to be notified at
such party’s address or facsimile number as set forth below:

     

      

    

    
      
        
           

        

        
          9

          
            

          

        

        
           

        

      

    

    

    (i) All correspondence to the Company
shall be addressed as follows:

    

    
      	
              Anpath
      Group, Inc.

            	 
      
	
              116
      Morlake Drive, Suite 201

            	 
      
	
              Mooresville,
      NC 28117

            	 
      
	 
      	 
      
	
              Attention:

            	
              J.
      Lloyd Breedlove

            
	 
      	
              Chief
      Executive Officer

            
	
              Facsimile:

            	
              (704)
      658-3358

            

    

    

    (ii) All
correspondence to any Investor shall be sent to such Investor at the address set
forth in the Investor Counterpart Signature Page to the Subscription
Agreement.

     

    (iii) Any
entity may change the address to which correspondence to it is to be addressed
by written notification as provided for herein.

     

    .220 The
parties acknowledge and agree that in the event of any breach of this Agreement,
remedies at law may be inadequate, and each of the parties hereto shall be
entitled to seek specific performance of the obligations of the other parties
hereto and such appropriate injunctive relief as may be granted by a court of
competent jurisdiction.

     

    .221  Should
any part or provision of this Agreement be held unenforceable or in conflict
with the applicable laws or regulations of any jurisdiction, the invalid or
unenforceable part or provisions shall be replaced with a provision which
accomplishes, to the extent possible, the original business purpose of such part
or provision in a valid and enforceable manner, and the remainder of this
Agreement shall remain binding upon the parties hereto.

     

    .222  This
Agreement may be executed in a number of counterparts, any of which together
shall for all purposes constitute one Agreement, binding on all the parties
hereto notwithstanding that all such parties have not signed the same
counterpart.

     

     

    [Signature
Page to Follow]

     

    

    
      
        
           

        

        
          10

          
            

          

        

        
           

        

      

    

    

    IN WITNESS
WHEREOF, the parties hereto have executed this Registration Rights
Agreement as of the date and year first above written.

    

    
      	
                       

            	
              ANPATH
      GROUP, INC. 

            
	 
      	 
      	
                

            
	 
      	 
      	 
      
	 
      	
              By:  

            	 
      
	 
      	 
      	
              J.
      Lloyd Breedlove

              Chief
      Executive Officer

            
	 
      	 
      

    

    

     

    THE
INVESTOR’S SIGNATURE TO THE SUBSCRIPTION AGREEMENT SHALL CONSTITUTE THE
INVESTOR’S SIGNATURE TO THIS REGISTRATION RIGHTS AGREEMENT.

     

     

    

    

    

    

    

    

    

    

    

    

    

    

    Signature
Page to Registration Rights Agreement

    

    

    

    
      
        
           

        

        
          11

          
            

          

        

        
           

        

      

    

    

    Exhibit
A

     

    Anpath
Group, Inc.

     

    Selling Stockholder
Questionnaire

    

    The
undersigned beneficial owner of certain Notes convertible into shares (the
“Conversion
Shares”) of common stock, $0.0001 par value per share (the “Common
Stock”), of Anpath Group, Inc. (the “Company
”) and Warrants to purchase shares of Common Stock (the “Warrant
Shares” and collectively with the Conversion Shares, the “Registrable
Securities”) understands that the Company intends to file with the
Securities and Exchange Commission (the “Commission”)
a registration statement (the “Registration
Statement”) for the registration and resale under Rule 415 of the
Securities Act of 1933, as amended (the “Securities
Act”), of the Registrable Securities, in accordance with the terms of the
Registration Rights Agreement, dated as of ______________, 200__ (the “Registration
Rights Agreement”), among the Company and the Investors named
therein.   The purpose of this Questionnaire is to facilitate the
filing of the Registration Statement under the Securities Act that will permit
you to resell the Registrable Securities in the future. The information supplied
by you will be used in preparing the Registration Statement.  All
capitalized terms not otherwise defined herein shall have the meanings ascribed
thereto in the Registration Rights Agreement.

     

    Certain
legal consequences arise from being named as a selling securityholder in the
Registration Statement and the related prospectus. Accordingly, holders and
beneficial owners of Registrable Securities are advised to consult their own
securities law counsel regarding the consequences of being named or not being
named as a selling securityholder in the Registration Statement and the related
prospectus.

     

    NOTICE

     

    The
undersigned beneficial owner (the “Selling
Stockholder”) of Registrable Securities hereby elects to include the
Registrable Securities owned by it and listed below in Item 3 (unless otherwise
specified under such Item 3) in the Registration Statement.

     

    
      	
               
      

            	
              QUESTIONNAIRE

            

    

     

    
      	
               
      

            	
              1. Name.

            

    

     

    (a)           Full
Legal Name of Selling Stockholder

    

    
      	 
      

    

    

    

    
      	
               
      

            	
              (b)

            	
              Full
      Legal Name of Registered Holder (if not the same as (a) above) through
      which Registrable Securities Listed in Item 3 below are
    held:

            

    

    

    

    
      	 
      

    

    

    
      	
               
      

            	
              (c)

            	
              Full
      Legal Name of Natural Control Person (which means a natural person who
      directly or indirectly alone or with others has power to vote or dispose
      of the securities covered by the
questionnaire):

            

    

    

    

    
      	 
      

    

     

    

    
      
        
          
             

            

          

           

        

        
          A-1

          
            

          

        

        
           

        

      

    

    

    
      	
               
      

            	
              2.
      Address for Notices to Selling
Stockholder:

            

    

     

    
      
        
          
            
              
                
                  	 
      
	 
      
	 
      
	Telephone: 	 
	
                          Fax:

                        	 
      
	Contact Person:	 
	E-mail
      address of Contact Person:	 

                

              

            

          

        

      

    

    

    
      	
               
      

            	
              3.
      Beneficial Ownership of Registrable
Securities:

            

    

     

    
      	
              (a)        
        

            	
              Type
      and Number of Notes and Warrants of the Company beneficially
      owned:

            

    

    

    
      	
               Notes:

            	 
      	
              Warrants:

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      

    

    

    
      	
               
      

            	
              4.
      Broker-Dealer Status:

            

    

     

    (a)           Are
you a broker-dealer?

    

    Yes  ̈  No  ̈ 

    

    
      	
               
      

            	
              (b)

            	
              If
      your response to question 4(a) is “yes”, did you receive your Registrable
      Securities as compensation for investment banking services to the
      Company?

            

    

    

    Yes  ̈  No  ̈ 

    

    Note: If
your response to question 4(a) is “yes” and your response to question 4(b) is
“no,” the Commission’s staff has indicated that you should be identified as an
underwriter in the Registration Statement.

    

    (c)           Are
you an affiliate of a broker-dealer?

    

    Yes  ̈  No  ̈ 

     

    
      
         

      

      
        A-2

        
          

        

      

      
         

      

    

     

    Note:  If
yes, provide a narrative explanation below:

    

    
      	 
      
	 
      
	 
      

    

    

    
      	
               
      

            	
              (d)

            	
              If
      you are an affiliate of a broker-dealer, do you certify that you bought
      the Registrable Securities in the ordinary course of business, and at the
      time of the purchase of the Registrable Securities to be resold, you had
      no agreements or understandings, directly or indirectly, with any person
      to distribute the Registrable
Securities?

            

    

    

    Yes  ̈  No  ̈ 

    

    Note: If
your response to question 4(c) is “yes” and your response to question 4(d) is
“no,” the Commission’s staff has indicated that you should be identified as an
underwriter in the Registration Statement.

    

    
      	
               
      

            	
              5.
      Beneficial Ownership of Other Securities of the Company Owned by the
      Selling Stockholder.

            

    

     

    Except
as set forth below in this Item 5, the undersigned is not the beneficial or
registered owner of any securities of the Company other than the securities
listed above in Item 3.

     

    
      	
               
      

            	
              (a)

            	
              As
      of ___________, 2008, the Selling Stockholder owned outright (including
      shares registered in Selling Stockholder's name individually or jointly
      with others, shares held in the name of a bank, broker, nominee,
      depository or in "street name" for its account), _________ shares of the
      Company's capital stock (excluding the Registrable Securities). If "zero,"
      please so state.

            

    

    

    
      	
               
      

            	
              (b)

            	
              In
      addition to the number of shares Selling Stockholder owned outright as
      indicated in Item 5(a) above, as of ________________, 2008, the Selling
      Stockholder had or shared voting power or investment power, directly or
      indirectly, through a contract, arrangement, understanding, relationship
      or otherwise, with respect to ______________ shares of the Company's
      capital stock (excluding the Registrable Securities). If "zero," please so
      state.

            

    

     

     If
the answer to question 5(b) is not "zero," please complete the following
tables:

     

    
      	
              Sole
      Voting Power:

            
	 
      	 
      	 
      	 
      	 
      
	
              Number of Shares

            	 
      	
              Nature of Relationship Resulting in Sole

              Voting Power

            	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      

    

    

    
      	
              Shared Voting
       Power:

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Number of Shares

            	 
      	
              With Whom

              Shared

            	 
      	
              Nature of

              Relationship

            	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      

    

    

    
      	
              Sole
      Investment Power:

            
	 
      	 
      	 
      	 
      	 
      
	
              Number of Shares

            	 
      	
              Nature of Relationship Resulting in Sole

              Investment power

            	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      

    

     

    
      
        
          
            

             

          

           

        

        
          A-3

          
            

          

        

        
           

        

      

    

    

    

    
      	
              Shared
      Investment Power:

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Number of Shares

            	 
      	
              With Whom

              Shared

            	 
      	
              Nature of

              Relationship

            	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      

    

    

    
      	
              (b)  

            	
              As
      of _____________, 2008, the Selling Stockholder had the right to acquire
      the following shares of the Company's common stock pursuant to the
      exercise of outstanding stock options, warrants or other rights (excluding
      the Registrable Securities). Please describe the number, type and terms of
      the securities, the method of ownership, and whether the undersigned holds
      sole or shared voting and investment power. If “none,” please so
      state.

            

    

    

    
      	 
      
	 
      
	 
      

    

    

    6.
Relationships with the Company:

     

    Except
as set forth below, neither the undersigned nor any of its affiliates, officers,
directors or principal equity holders (owners of 5% of more of the equity
securities of the undersigned) has held any position or office or has had any
other material relationship with the Company (or its predecessors or affiliates)
during the past three years.

     

    
      	
               
      

            	
              State
      any exceptions below:

            

    

    

    
      	 
      
	 
      
	 
      

    

    

    
      	
               
      

            	
              7.
      Plan of Distribution:

            

    

     

    The
undersigned has reviewed the form of Plan of Distribution attached hereto as
Annex A and hereby confirms that, except as set forth below, the information
contained therein regarding the undersigned and its plan of distribution is
correct and complete.

     

    
      	
               
      

            	
              State
      any exceptions here:

            

    

      

    
      	 
      
	 
      
	 
      

    

    

    
      	
               
      

            	
              ***********

            

    

     The
undersigned agrees to promptly notify the Company of any inaccuracies or changes
in the information provided herein that may occur subsequent to the date hereof
and prior to the effective date of any applicable Registration Statement filed
pursuant to the Registration Rights Agreement.

     

    

    
      
        
          
            

             

          

           

        

        
          A-4

          
            

          

        

        
           

        

      

    

    

    By
signing below, the undersigned consents to the disclosure of the information
contained herein in its answers to Items 1 through 7 and the inclusion of such
information in each Registration Statement filed pursuant to the Registration
Rights Agreement and each related prospectus. The undersigned understands that
such information will be relied upon by the Company in connection with the
preparation or amendment of any such Registration Statement and the related
prospectus.

    

    By
signing below, the undersigned acknowledges that it understands its obligation
to comply, and agrees that it will comply, with the provisions of the Exchange
Act and the rules and regulations thereunder, particularly Regulation M. The
undersigned also acknowledges that it understands that the answers to this
Questionnaire are furnished for use in connection with Registration Statements
filed pursuant to the Registration Rights Agreement and any amendments or
supplements thereto filed with the Commission pursuant to the Securities
Act.

     

    I confirm
that, to the best of my knowledge and belief, the foregoing statements
(including without limitation the answers to this Questionnaire) are
correct.

     

    IN WITNESS WHEREOF the
undersigned, by authority duly given, has caused this Questionnaire to be
executed and delivered either in person or by its duly authorized
agent.

    

     

    
      	
              Dated:

            	 
      	 
      	
              Beneficial Owner:

            	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	
              By:

            	 
      
	 
      	 
      	 
      	
              Name:

            
	 
      	 
      	 
      	
              Title:

            

    

    

    

    
      
        
          
            

          

           

        

        
          A-5

          
            

          

        

        
           

        

      

    

     

    Annex
A

    PLAN
OF DISTRIBUTION

    

    The
selling stockholders and any of their pledgees, assignees and
successors-in-interest may, from time to time, sell any or all of their shares
of common stock on any stock exchange, market or trading facility on which such
shares are traded or in private transactions. These sales may be at fixed or
negotiated prices. No short sales of the shares of common stock being offered
for resale under this prospectus are permitted prior to the date that the
registration statement, of which this prospectus forms a part, has been declared
effective by the Securities and Exchange Commission.  The selling
stockholders may use any one or more of the following methods when selling
shares:

     

    
      	
              ·  

            	
              ordinary
      brokerage transactions and transactions in which the broker-dealer
      solicits purchasers;

            

    

     

    
      	
              ·  

            	
              block
      trades in which the broker-dealer will attempt to sell the shares as agent
      but may position and resell a portion of the block as principal to
      facilitate the transaction;

            

    

     

    
      	
              ·  

            	
              purchases
      by a broker-dealer as principal and resale by the broker-dealer for its
      account;

            

    

     

    
      	
              ·  

            	
              an
      exchange distribution in accordance with the rules of the applicable
      exchange;

            

    

     

    
      	
              ·  

            	
              privately
      negotiated transactions;

            

    

     

    
      	
              ·  

            	
              settlement
      of short sales;

            

    

     

    
      	
              ·  

            	
              broker-dealers
      may agree with the selling stockholders to sell a specified number of such
      shares at a stipulated price per
share;

            

    

     

    
      	
              ·  

            	
              a
      combination of any such methods of sale;
and

            

    

     

    
      	
              ·  

            	
              any
      other method permitted pursuant to applicable
  law.

            

    

     

    The
selling stockholders may also sell shares under Rule 144 under the
Securities Act, if available, rather than under this prospectus.

     

    Broker-dealers
engaged by the selling stockholders may arrange for other brokers/dealers to
participate in sales. Broker-dealers may receive commissions from the selling
stockholders (or, if any broker/dealer acts as agent for the purchaser of
shares, from the purchaser) in amounts to be negotiated. The selling
stockholders do not expect these commissions to exceed what is customary in the
types of transactions involved.

     

    The
selling stockholders may from time to time pledge or grant a security interest
in some or all of the shares of common stock owned by them and, if they default
in the performance of their secured obligations, the pledgees or secured parties
may offer and sell the shares of common stock from time to time under this
prospectus, or under an amendment to this prospectus under Rule 424(b)(3)
or other applicable provision of the Securities Act amending the list of selling
stockholders to include the pledgee, transferee or other successors in interest
as selling stockholders under this prospectus.

     

    The
aggregate proceeds to the selling stockholders from the sale of the common stock
offered by them will be the purchase price of the common stock less discounts or
commissions, if any. Each of the selling stockholders reserves the right to
accept and, together with their agents from time to time, to reject, in whole or
in part, any proposed purchase of common stock to be made directly or through
agents. We will not receive any of the proceeds from this offering. However,
with respect to the warrants upon exercise of such warrants by payment of cash,
we will receive the exercise price of the warrants.

    

    The
selling stockholders and any underwriters, broker-dealers or agents that
participate in the sale of the common stock may be deemed "underwriters" within
the meaning of the Securities Act in connection with such sales. In such event,
any discounts, commissions, concessions or profit they earn on any resale of the
shares may be deemed to be underwriting discounts and commissions under the
Securities Act.  Selling stockholders who are deemed underwriters
within the meaning of the Securities Act will be subject to the prospectus
delivery requirements of the Securities Act. The selling stockholders have
informed us that they do not have any agreement or understanding, directly or
indirectly, with any persons to distribute the common stock.

    

    In order
to comply with the securities laws of some states, if applicable, the common
stock may be sold in these jurisdictions only through registered or licensed
brokers or dealers. In addition, in some states the common stock may not be sold
unless it has been registered or qualified for sale or an exemption from
registration or qualification requirements is available and is complied
with.

    

    We have
advised the selling stockholders that the anti-manipulation rules of Regulation
M under the Exchange Act may apply to sales of shares in the market and to the
activities of the selling stockholders and their affiliates. In addition, we
will make copies of this prospectus (as it may be supplemented or amended from
time to time) available to the selling stockholders for the purpose of
satisfying the prospectus delivery requirements of the Securities Act. The
selling stockholders may indemnify any broker-dealer that participates in
transactions involving the sale of the shares against certain liabilities,
including liabilities arising under the Securities Act.

    

    We are
required to pay certain fees and expenses incident to the registration of the
shares.  We have agreed to indemnify the selling stockholders against
liabilities, including liabilities under the Securities Act and state securities
laws, relating to the registration of the shares offered by this
prospectus.

    
 

    
      
        
          
             

          

           

        

        
          A-6

          
            

          

        

        
           

        

      

    

    

    EXHIBIT
B

    

    Instrument of
Adherence

     

    Reference
is hereby made to that certain Registration Rights Agreement, dated as of
 ______, 200__, among Anpath Group, Inc. a Delaware corporation (the “Company”)
and the Investors signatory thereto, as such agreement may be amended from time
to time (the “Registration
Rights Agreement”). Capitalized terms used herein without definition
shall have the respective meanings ascribed thereto in the Registration Rights
Agreement.

     

    The
undersigned, in order to become the owner or holder of Notes in the aggregate
principal amount of [$__________] convertible into [___________] Conversion
Shares and/ or a Warrant or Warrants to purchase [_______] Warrant Shares,
hereby agrees that, from and after the date hereof, the undersigned has become a
party to the Registration Rights Agreement pursuant to Section 13 of the
Registration Rights Agreement and is entitled to all of the benefits under, and
is subject to all of the obligations, restrictions and limitations set forth in,
the Registration Rights Agreement that are applicable to Investors. This
Instrument of Adherence shall take effect and shall become a part of the
Registration Rights Agreement immediately upon execution. 

    

    Executed
as of the date set forth below under the laws of the State of New
York.

     

    

    Signature:__________________________

    Name:

    Title:

    

    Accepted:

    [___________________]

    

    

    By:________________________

    Name:

    Title:

    

    Date:______________,
20__

    

    

    

    
      
        
          
            

             

          

           

        

        
          A-7

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