Document:

Exhibit
4.4

REGISTRATION
RIGHTS AGREEMENT

This REGISTRATION RIGHTS AGREEMENT (this “Agreement”),
dated as of August 31, 2007, by and between OPEN ENERGY
CORPORATION, a Nevada corporation (the “Company”), the buyers
set forth on the Schedule of Buyers (collectively, the “Buyer”),
attached hereto as Schedule I (the “Schedule of Buyers”).

W I T N E S S E T
H:

A.            WHEREAS, in connection with the Securities Purchase Agreement by and
among the parties hereto of even date herewith (the “Securities Purchase
Agreement”), the Company has agreed, upon the terms and subject to the
conditions of the Securities Purchase Agreement, to issue and sell to the Buyer
(i) convertible notes (collectively, the “Convertible Note”) which shall
be convertible into shares of the Company’s common stock, par value $0.001 per
share (the “Common Stock,” as converted, the “Conversion Shares”)
in accordance with the terms of the Convertible Note, and (ii) warrants
(collectively, the “Warrant”), which will be exercisable to purchase
shares of Common Stock (as exercised, collectively, the “Warrant Shares”).  Capitalized terms not defined herein shall
have the meaning ascribed to them in the Securities Purchase Agreement; and

B.            WHEREAS, to induce the Buyer to execute and deliver the Securities Purchase
Agreement, the Company has agreed to provide certain limited registration
rights under the Securities Act of 1933, as amended, and the rules and
regulations thereunder, or any similar successor statute (collectively, the “Securities
Act”), and applicable state securities laws.

NOW,
THEREFORE, in consideration of the premises and the mutual
covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company and the
Buyer hereby agree as follows:

1.             DEFINITIONS.  As used in this Agreement, the following
terms shall have the following meanings:

(a)           “Effectiveness
Deadline” means, with respect to the initial Registration Statement
required to be filed hereunder, the 90th calendar day following the date filed and,
with respect to any Subsequent Registration Statements which may be required
pursuant to Section 3(c), the 60th calendar day following the filed; provided,
however, in the event the Company is notified by the U.S. Securities and
Exchange Commission (“SEC”) that one of the above Registration
Statements will not be reviewed or is no longer subject to further review and
comments, the Effectiveness Date as to such Registration Statement shall be the
fifth Trading Day following the date on which the Company is so notified if
such date precedes the dates required above.

(b)           “Filing Deadline”
means, with respect to the initial Registration Statement required hereunder,
the 30th calendar day following the date the Company
receives a Filing Notice, and, with respect to any Subsequent Registration
Statements which may be required

pursuant to Section 3(c),
the 30th day following the date on which the Company
first knows, or reasonably should have known that it is obligated to file such
Subsequent Registration Statement.

(c)           “Filing Notice”
means a written notice from the Buyer to the Company (which may not be sent
prior to the occurrence of a Trigger Event) to file a Registration Statement
and stating the number of shares to include on such Registration Statement.

(d)           “Initial Required
Registration Amount” means such number of shares of Common Stock issued or
to be issued upon conversion of the Convertible Note or exercise of the Warrant
as set forth on a Filing Notice.

(e)           “Person” means a
corporation, a limited liability company, an association, a partnership, an
organization, a business, an individual, a governmental or political
subdivision thereof or a governmental agency.

(f)            “Prospectus”
means the prospectus included in a Registration Statement (including, without
limitation, a prospectus that includes any information previously omitted from
a prospectus filed as part of an effective registration statement in reliance
upon Rule 430A promulgated under the Securities Act), as amended or
supplemented by any prospectus supplement, with respect to the terms of the
offering of any portion of the Registrable Securities covered by a Registration
Statement, and all other amendments and supplements to the Prospectus,
including post-effective amendments, and all material incorporated by reference
or deemed to be incorporated by reference in such Prospectus.

(g)           “Registrable
Securities” means all of (i) the Conversion Shares issuable upon conversion
of the Convertible Note, (ii) the Warrant Shares issued or issuable upon
exercise of the Warrant, (iii) any additional shares issuable in connection
with any anti-dilution provisions in the Warrant or the Convertible Note
(without giving effect to any limitations on exercise set forth in the Warrant
or Convertible Note) and (iv) any shares of Common Stock issued or issuable
with respect to the Conversion Shares, the Convertible Note, the Warrant
Shares, or the Warrant as a result of any stock split, dividend or other
distribution, recapitalization or similar event or otherwise, without regard to
any limitations on the conversion of the Convertible Note or exercise of the
Warrant.

(h)           “Registration
Statement” means the registration statements required to be filed hereunder
and any additional registration statements contemplated by Section 3(c),
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.

(i)            “Rule 415”
means Rule 415 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.

(j)            “Trigger Event”
shall have the meaning ascribed to it in the Convertible Note.

2.             REGISTRATION.

(a)           The obligations of the
Company hereunder shall not come into effect unless and until a Trigger Event
has occurred.  At any time after the
occurrence of a Trigger Event, the Buyer shall have the right to deliver to the
Company a Filing Notice.

(b)           After receipt of a
valid Filing Notice, the Company shall, on or prior to each Filing Deadline,
prepare and file with the SEC a Registration Statement on Form S-1 or SB-2 (or,
if the Company is then eligible, on Form S-3) covering the resale of all of the
Registrable Securities.  The Registration
Statement prepared pursuant hereto shall register for resale at least the
number of shares of Common Stock equal to the Required Registration Amount as
of date the Registration Statement is initially filed with the SEC.  The Registration Statement shall contain the “Selling
Stockholder” and “Plan of Distribution” sections in substantially the form
attached hereto as Exhibit A and contain all the required disclosures
set forth on Exhibit B.  The
Company shall use its best efforts to have the Registration Statement declared
effective by the SEC as soon as practicable, but in no event later than the
Effectiveness Deadline.  By 9:30 a.m. on
the date following the date of effectiveness, the Company shall file with the
SEC in accordance with Rule 424 under the Securities Act the final Prospectus
to be used in connection with sales pursuant to such Registration
Statement.  The Company shall cause the
Registration Statement to remain effective until all of the Registrable
Securities have been sold or may be sold without volume restrictions pursuant
to Rule 144(k), as determined by the counsel to the Company pursuant to a
written opinion letter to such effect, addressed and acceptable to the Company’s
transfer agent and the affected Holders (“Registration Period”).  Prior to the filing of the Registration
Statement with the SEC, the Company shall furnish a draft of the Registration
Statement to the Buyer for his review and comment.  The Buyer shall furnish comments on the
Registration Statement to the Company within twenty-four (24) hours of the receipt
thereof from the Company.

(c)           Failure to File or
Obtain Effectiveness of the Registration Statement.  If: (i) a Registration Statement is not filed
on or prior to its Filing Date (if the Company files a Registration Statement
without affording the Holders the opportunity to review and comment on the same
as required by Section 3(a), the Company shall not be deemed to have satisfied
this clause (i)), or (ii) the Company fails to file with the SEC a request for
acceleration in accordance with Rule 461 promulgated under the Securities Act,
within five Trading Days of the date that the Company is notified (orally or in
writing, whichever is earlier) by the SEC that a Registration Statement will
not be “reviewed,” or not subject to further review, or (iii) a Registration
Statement filed or required to be filed hereunder is not declared effective by
the SEC by its Effectiveness Deadline, or (iv) after the effectiveness, a
Registration Statement ceases for any reason to remain continuously effective
as to all Registrable Securities for which it is required to be effective, or
the Holder is otherwise not permitted to utilize the Prospectus therein to
resell such Registrable Securities for more than 30 consecutive calendar days
or more than an aggregate of 40 calendar days during any 12-month period (which
need not be consecutive calendar days) (any such failure or breach being
referred to as an “Event”), then in addition to any other rights the
Holder of the Convertible Note 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 holder of Convertible Notes an amount in
cash, as partial liquidated damages (“Liquidated Damages”) and not as a
penalty, equal to 2.0% of the aggregate purchase price paid by such holder
pursuant to the Securities Purchase Agreement for any Convertible Notes then
held by such holder.  The parties agree
that (1) the Company shall not be liable for Liquidated Damages under this
Agreement with respect to any Warrant or Warrant Shares and (2) the maximum
aggregate Liquidated Damages payable to a Holder of Convertible Note under this
Agreement shall be twelve percent (12%) of the aggregate Purchase Price paid by
such holder pursuant to the Securities Purchase 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.

(d)           Liquidated Damages.  The Company and the Buyer hereto acknowledge
and agree that the sums payable under subsection 2(c) above shall constitute
liquidated damages and not penalties and are in addition to all other rights of
the Buyer, including the right to call a default.  The parties further acknowledge that (i) the
amount of loss or damages likely to be incurred is incapable or is difficult to
precisely estimate, (ii) the amounts specified in such subsections bear a
reasonable relationship to, and are not plainly or grossly disproportionate to,
the probable loss likely to be incurred in connection with any failure by the
Company to obtain or maintain the effectiveness of a Registration Statement,
(iii) one of the reasons for the Company and the Buyer reaching an agreement as
to such amounts was the uncertainty and cost of litigation regarding the
question of actual damages, and (iv) the Company and the Buyer are
sophisticated business parties and have been represented by sophisticated and
able legal counsel and negotiated this Agreement at arm’s length.

3.             RELATED
OBLIGATIONS.

(a)           The Company shall, not
less than three (3) Trading Days prior to the filing of each Registration
Statement and not less than one (1) Trading Day prior to the filing of any
related amendments and supplements to all Registration Statements (except for
annual reports on Form 10-K or Form 10-KSB), furnish to the Buyer copies of all
such documents proposed to be filed, which documents (other than those incorporated
or deemed to be incorporated by reference) will be subject to the reasonable
and prompt review of the Buyer.  The
Company shall not file a Registration Statement or any such Prospectus or any
amendments or supplements thereto to which the Buyer shall reasonably object in
good faith; provided that, the Company is notified of such objection in writing
no later than two (2) Trading Days after the Buyer has been so furnished copies
of a Registration Statement.

(b)           The Company shall (i)
prepare and file with the SEC such amendments (including post-effective
amendments) and supplements to a Registration Statement and the Prospectus used
in connection with such Registration Statement, which prospectus is to be filed
pursuant to Rule 424 promulgated under the Securities Act, as may be necessary
to keep such Registration Statement effective at all times during the
Registration Period, and prepare and file with the SEC such additional
Registration Statements in order to register for resale under the Securities Act
all of the Registrable Securities; (ii) cause the related Prospectus to be
amended or

supplemented by any
required Prospectus supplement (subject to the terms of this Agreement), and as
so supplemented or amended to be filed pursuant to Rule 424; (iii) respond as
promptly as reasonably possible to any comments received from the SEC with
respect to a Registration Statement or any amendment thereto and as promptly as
reasonably possible provide the Buyer true and complete copies of all
correspondence from and to the SEC relating to a Registration Statement
(provided that the Company may excise any information contained therein which
would constitute material non-public information as to the Buyer which has not
executed a confidentiality agreement with the Company); and (iv) comply with
the provisions of the Securities Act with respect to the disposition of all
Registrable Securities of the Company covered by such Registration Statement
until such time as all of such Registrable Securities shall have been disposed
of in accordance with the intended methods of disposition by the seller or
sellers thereof as set forth in such Registration Statement.  In the case of amendments and supplements to
a Registration Statement which are required to be filed pursuant to this
Agreement (including pursuant to this Section 3(b)) by reason of the Company’s
filing a report on Form 10-KSB, Form 10-QSB or Form 8-K or any analogous report
under the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
the Company shall incorporate such report by reference into the Registration
Statement, if applicable, or shall file such amendments or supplements with the
SEC on the same day on which the Exchange Act report is filed which created the
requirement for the Company to amend or supplement the Registration Statement.

(c)           To the extent that the
Buyer holds any Registrable Securities that are prohibited from being included
on a the initial Registration Statement or any other Registration Statement
(the “Non-Registered Shares”) under Rule 415, as interpreted by the SEC,
then the Company shall become obligated to file an additional Registration
Statement (each, a “Subsequent Registration Statement”) on the first day
after such Subsequent Registration Statement may be filed without objection by
the SEC under Rule 415 covering the resale by the Buyer of the maximum number
of such Non-Registered Shares allowed under Rule 415 as interpreted by the SEC.

(d)           The Company shall
furnish to each Buyer whose Registrable Securities are included in any
Registration Statement, without charge, (i) at least one (1) copy of such
Registration Statement as declared effective by the SEC and any amendment(s)
thereto, including financial statements and schedules, all documents
incorporated therein by reference, all exhibits and each preliminary
prospectus, (ii) ten (10) copies of the final prospectus included in such
Registration Statement and all amendments and supplements thereto (or such
other number of copies as the Buyer may reasonably request) and (iii) such
other documents as the Buyer may reasonably request from time to time in order
to facilitate the disposition of the Registrable Securities owned by the Buyer.

(e)           The Company shall use
its best efforts to (i) register and qualify the Registrable Securities covered
by a Registration Statement under such other securities or “blue sky” laws of
such jurisdictions in the United States as the Buyer reasonably requests, (ii)
prepare and file in those jurisdictions, such amendments (including post-effective
amendments) and supplements to such registrations and qualifications as may be
necessary to maintain the effectiveness thereof during the Registration Period,
(iii) take such other actions as may be necessary to maintain such
registrations and qualifications in effect at all times during the

Registration Period, and
(iv) take all other actions reasonably necessary or advisable to qualify the
Registrable Securities for sale in such jurisdictions; provided, however, that
the Company shall not be required in connection therewith or as a condition
thereto to (w) make any change to its articles of incorporation or by-laws, (x)
qualify to do business in any jurisdiction where it would not otherwise be
required to qualify but for this Section 3(d), (y) subject itself to general
taxation in any such jurisdiction, or (z) file a general consent to service of
process in any such jurisdiction.  The
Company shall promptly notify the Buyer who holds Registrable Securities of the
receipt by the Company of any notification with respect to the suspension of
the registration or qualification of any of the Registrable Securities for sale
under the securities or “blue sky” laws of any jurisdiction in the United
States or its receipt of actual notice of the initiation or threat of any
proceeding for such purpose.

(f)            As promptly as
practicable after becoming aware of such event or development, the Company
shall notify the Buyer in writing of the happening of any event as a result of
which the Prospectus included in a Registration Statement, as then in effect,
includes an untrue statement of a material fact or omission to state a material
fact required to be stated therein or necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading
(provided that in no event shall such notice contain any material, nonpublic
information), and promptly prepare a supplement or amendment to such
Registration Statement to correct such untrue statement or omission, and
deliver ten (10) copies of such supplement or amendment to the Buyer.  The Company shall also promptly notify the
Buyer in writing (i) when a Prospectus or any Prospectus supplement or
post-effective amendment has been filed, and when a Registration Statement or
any post-effective amendment has become effective (notification of such
effectiveness shall be delivered to the Buyer by facsimile on the same day of
such effectiveness), (ii) of any request by the SEC for amendments or
supplements to a Registration Statement or related prospectus or related
information, and (iii) of the Company’s reasonable determination that a
post-effective amendment to a Registration Statement would be appropriate.

(g)           The Company shall use
its best efforts to 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
within the United States of America and, if such an order or suspension is
issued, to obtain the withdrawal of such order or suspension at the earliest
possible moment and to notify each Buyer who holds Registrable Securities being
sold of the issuance of such order and the resolution thereof or its receipt of
actual notice of the initiation or threat of any proceeding for such purpose.

(h)           If, after the execution
of this Agreement, a Buyer believes, after consultation with its legal counsel,
that it could reasonably be deemed to be an underwriter of Registrable
Securities, at the request of the Buyer, the Company shall furnish to the
Buyer, on the date of the effectiveness of the Registration Statement and
thereafter from time to time on such dates as the Buyer may reasonably request
(i) a letter, dated such date, from the Company’s independent certified public
accountants in form and substance as is customarily given by independent
certified public accountants to underwriters in an underwritten public
offering, and (ii) an opinion, dated as of such date, of counsel representing
the Company for purposes of such

Registration Statement,
in form, scope and substance as is customarily given in an underwritten public
offering, addressed to the Buyer.

(i)            If, after the
execution of this Agreement, the Buyer believes, after consultation with its
legal counsel, that it could reasonably be deemed to be an underwriter of
Registrable Securities, at the request of the Buyer, the Company shall make
available for inspection by (i) the Buyer and (ii) one (1) firm of accountants
or other agents retained by the Buyer (collectively, the “Inspectors”)
all pertinent financial and other records, and pertinent corporate documents
and properties of the Company (collectively, the “Records”), as shall be
reasonably deemed necessary by each Inspector, and cause the Company’s
officers, directors and employees to supply all information which any Inspector
may reasonably request; provided, however, that each Inspector shall agree, and
the Buyer hereby agrees, to hold in strict confidence and shall not make any
disclosure or use any Record or other information which the Company determines
in good faith to be confidential, and of which determination the Inspectors are
so notified, unless (a) the disclosure of such Records is necessary to avoid or
correct a misstatement or omission in any Registration Statement or is
otherwise required under the Securities Act, (b) the release of such Records is
ordered pursuant to a final, non-appealable subpoena or order from a court or
government body of competent jurisdiction, or (c) the information in such
Records has been made generally available to the public other than by
disclosure in violation of this or any other agreement of which the Inspector
and the Buyer has knowledge.  The Buyer
agrees that it shall, upon learning that disclosure of such Records is sought
in or by a court or governmental body of competent jurisdiction or through
other means, give prompt notice to the Company and allow the Company, at its
expense, to undertake appropriate action to prevent disclosure of, or to obtain
a protective order for, the Records deemed confidential.

(j)            The Company shall hold
in confidence and not make any disclosure of information concerning the Buyer
provided to the Company unless (i) disclosure of such information is necessary
to comply with federal or state securities laws, (ii) the disclosure of such
information is necessary to avoid or correct a misstatement or omission in any
Registration Statement, (iii) the release of such information is ordered
pursuant to a subpoena or other final, non-appealable order from a court or
governmental body of competent jurisdiction, or (iv) such information has been
made generally available to the public other than by disclosure in violation of
this Agreement or any other agreement. 
The Company agrees that it shall, upon learning that disclosure of such
information concerning the Buyer is sought in or by a court or governmental
body of competent jurisdiction or through other means, give prompt written
notice to the Buyer and allow the Buyer, at the Buyer’s expense, to undertake
appropriate action to prevent disclosure of, or to obtain a protective order
for, such information.

(k)           The Company shall use
its best efforts either to cause all the Registrable Securities covered by a
Registration Statement (i) to be listed on each securities exchange on which
securities of the same class or series issued by the Company are then listed,
if any, if the listing of such Registrable Securities is then permitted under
the rules of such exchange or (ii) the inclusion for quotation on the National
Association of Securities Dealers, Inc. OTC Bulletin Board for such Registrable
Securities.  The Company shall pay all
fees and expenses in connection with satisfying its obligation under this Section
3(k).

(l)            The Company shall cooperate
with the Buyer who holds Registrable Securities being offered and, to the
extent applicable, to facilitate the timely preparation and delivery of
certificates (not bearing any restrictive legend) representing the Registrable
Securities to be offered pursuant to a Registration Statement and enable such
certificates to be in such denominations or amounts, as the case may be, as the
Buyer may reasonably request and registered in such names as the Buyer may
request.

(m)          The Company shall use
its best efforts to cause the Registrable Securities covered by the applicable
Registration Statement to be registered with or approved by such other
governmental agencies or authorities as may be necessary to consummate the
disposition of such Registrable Securities.

(n)           The Company shall make
generally available to its security holders as soon as practical, but not later
than ninety (90) days after the close of the period covered thereby, an
earnings statement (in form complying with the provisions of Rule 158 under the
Securities Act) covering a twelve (12) month period beginning not later than
the first day of the Company’s fiscal quarter next following the effective date
of the Registration Statement.

(o)           The Company shall
otherwise use its best efforts to comply with all applicable rules and
regulations of the SEC in connection with any registration hereunder.

(p)           Within two (2) business
days after a Registration Statement which covers Registrable Securities is
declared effective by the SEC, the Company shall deliver, and shall cause legal
counsel for the Company to deliver, to the transfer agent for such Registrable
Securities (with copies to the Buyer whose Registrable Securities are included
in such Registration Statement) confirmation that such Registration Statement
has been declared effective by the SEC in the form attached hereto as Exhibit
C.

(q)           The Company shall take
all other reasonable actions necessary to expedite and facilitate disposition
by the Buyer of Registrable Securities pursuant to a Registration Statement.

4.             OBLIGATIONS OF THE
BUYERS.

(a)           The Buyer agrees that,
upon receipt of any notice from the Company of the happening of any event of
the kind described in Section 3(f) or the first sentence of Section 3(e), such
Buyer will immediately discontinue disposition of Registrable Securities
pursuant to any Registration Statement covering such Registrable Securities
until the Buyer’s receipt of the copies of the supplemented or amended
prospectus contemplated by Section 3(f) or the first sentence of Section 3(e)
or receipt of notice that no supplement or amendment is required.  Notwithstanding anything to the contrary, the
Company shall cause its transfer agent to deliver unlegended certificates for
shares of Common Stock to a transferee of the Buyer in accordance with the
terms of the Securities Purchase Agreement in connection with any sale of
Registrable Securities with respect to which the Buyer has entered into a
contract for sale prior to the

Buyer’s receipt of a
notice from the Company of the happening of any event of the kind described in
Section 3(f) or the first sentence of 3(e) and for which the Buyer has not yet
settled.

(b)           The Buyer 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
sales of Registrable Securities pursuant to the Registration Statement.

5.             EXPENSES OF
REGISTRATION.

All expenses
incurred in connection with registrations, filings or qualifications pursuant
to Sections 2 and 3, including, without limitation, all registration, listing
and qualifications fees, printers, legal and accounting fees shall be paid by
the Company.

6.             INDEMNIFICATION.

With respect to
Registrable Securities which are included in a Registration Statement under
this Agreement:

(a)           To the fullest extent
permitted by law, the Company will, and hereby does, indemnify, hold harmless
and defend the Buyer, the directors, officers, partners, employees, agents,
representatives of, and each Person, if any, who controls the Buyer within the
meaning of the Securities Act or the Exchange Act (each, an “Indemnified
Person”), against any losses, claims, damages, liabilities, judgments,
fines, penalties, charges, costs, reasonable attorneys’ fees, amounts paid in
settlement or expenses, joint or several (collectively, “Claims”)
incurred in investigating, preparing or defending any action, claim, suit,
inquiry, proceeding, investigation or appeal taken from the foregoing by or
before any court or governmental, administrative or other regulatory agency,
body or the SEC, whether pending or threatened, whether or not an indemnified
party is or may be a party thereto (“Indemnified Damages”), to which any
of them may become subject insofar as such Claims (or actions or proceedings,
whether commenced or threatened, in respect thereof) arise out of or are based
upon: (i) any untrue statement or alleged untrue statement of a material fact
in a Registration Statement or any post-effective amendment thereto or in any filing
made in connection with the qualification of the offering under the securities
or other “blue sky” laws of any jurisdiction in which Registrable Securities
are offered (“Blue Sky Filing”), or the omission or alleged omission to
state a material fact required to be stated therein or necessary to make the
statements therein not misleading; (ii) any untrue statement or alleged untrue
statement of a material fact contained in any final prospectus (as amended or
supplemented, if the Company files any amendment thereof or supplement thereto
with the SEC) or the omission or alleged omission to state therein any material
fact necessary to make the statements made therein, in light of the
circumstances under which the statements therein were made, not misleading; or
(iii) any violation or alleged violation by the Company of the Securities Act,
the Exchange Act, any other law, including, without limitation, any state
securities law, or any rule or regulation there under relating to the offer or
sale of the Registrable Securities pursuant to a Registration Statement (the
matters in the foregoing clauses (i) through (iii) being, collectively, “Violations”).  The Company shall reimburse the Buyer and
each such controlling person promptly as such expenses are incurred and are due
and payable, for any legal fees or disbursements or other reasonable expenses
incurred by them in connection with

investigating or
defending any such Claim. 
Notwithstanding anything to the contrary contained herein, the
indemnification agreement contained in this Section 6(a): (x) shall not apply
to a Claim by an Indemnified Person arising out of or based upon a Violation
which occurs in reliance upon and in conformity with information furnished in
writing to the Company by such Indemnified Person expressly for use in
connection with the preparation of the Registration Statement or any such
amendment thereof or supplement thereto; (y) shall not be available to the
extent such Claim is based on a failure of the Buyer to deliver or to cause to be
delivered the prospectus made available by the Company, if such prospectus was
timely made available by the Company pursuant to Section 3(c); and (z) shall
not apply to amounts paid in settlement of any Claim if such settlement is
effected without the prior written consent of the Company, which consent shall
not be unreasonably withheld. Such indemnity shall remain in full force and
effect regardless of any investigation made by or on behalf of the Indemnified
Person and shall survive the transfer of the Registrable Securities by the
Buyer pursuant to Section 9 hereof.

(b)           In connection with a
Registration Statement, the Buyer agrees indemnify, hold harmless and defend,
to the same extent and in the same manner as is set forth in Section 6(a), the
Company, each of its directors, each of its officers, employees,
representatives, or agents and each Person, if any, who controls the Company
within the meaning of the Securities Act or the Exchange Act (each an “Indemnified
Party”), against any Claim or Indemnified Damages to which any of them may
become subject, under the Securities Act, the Exchange Act or otherwise,
insofar as such Claim or Indemnified Damages arise out of or is based upon any
Violation, in each case to the extent, and only to the extent, that such
Violation occurs in reliance upon and in conformity with written information
furnished to the Company by the Buyer expressly for use in connection with such
Registration Statement; and, subject to Section 6(d), the Buyer will reimburse
any legal or other expenses reasonably incurred by them in connection with
investigating or defending any such Claim; provided, however, that the
indemnity agreement contained in this Section 6(b) and the agreement with
respect to contribution contained in Section 7 shall not apply to amounts paid
in settlement of any Claim if such settlement is effected without the prior
written consent of the Buyer, which consent shall not be unreasonably withheld;
provided, further, however, that the Buyer shall be liable under this Section
6(b) for only that amount of a Claim or Indemnified Damages as does not exceed
the net proceeds to the Buyer as a result of the sale of Registrable Securities
pursuant to such Registration Statement. 
Such indemnity shall remain in full force and effect regardless of any
investigation made by or on behalf of such Indemnified Party and shall survive
the transfer of the Registrable Securities by the Buyer pursuant to Section
9.  Notwithstanding anything to the contrary
contained herein, the indemnification agreement contained in this Section 6(b)
with respect to any prospectus shall not inure to the benefit of any
Indemnified Party if the untrue statement or omission of material fact
contained in the prospectus was corrected and such new prospectus was delivered
to the Buyer prior to the Buyer’s use of the prospectus to which the Claim
relates.

(c)           Promptly after receipt
by an Indemnified Person or Indemnified Party under this Section 6 of notice of
the commencement of any action or proceeding (including any governmental action
or proceeding) involving a Claim, such Indemnified Person or Indemnified Party
shall, if a Claim in respect thereof is to be made against any indemnifying
party under this Section 6, deliver to the indemnifying party a written notice
of the commencement thereof, and

the indemnifying party
shall have the right to participate in, and, to the extent the indemnifying
party so desires, jointly with any other indemnifying party similarly noticed,
to assume control of the defense thereof with counsel mutually satisfactory to
the indemnifying party and the Indemnified Person or the Indemnified Party, as
the case may be; provided, however, that an Indemnified Person or Indemnified
Party shall have the right to retain its own counsel with the fees and expenses
of not more than one (1) counsel for such Indemnified Person or Indemnified
Party to be paid by the indemnifying party, if, in the reasonable opinion of
counsel retained by the indemnifying party, the representation by such counsel
of the Indemnified Person or Indemnified Party and the indemnifying party would
be inappropriate due to actual or potential differing interests between such
Indemnified Person or Indemnified Party and any other party represented by such
counsel in such proceeding.  The
Indemnified Party or Indemnified Person shall cooperate fully with the
indemnifying party in connection with any negotiation or defense of any such
action or claim by the indemnifying party and shall furnish to the indemnifying
party all information reasonably available to the Indemnified Party or
Indemnified Person which relates to such action or claim.  The indemnifying party shall keep the
Indemnified Party or Indemnified Person fully apprised at all times as to the
status of the defense or any settlement negotiations with respect thereto.  No indemnifying party shall be liable for any
settlement of any action, claim or proceeding effected without its prior
written consent; provided, however, that the indemnifying party shall not
unreasonably withhold, delay or condition its consent.  No indemnifying party shall, without the
prior written consent of the Indemnified Party or Indemnified Person, consent
to entry of any judgment or enter into any settlement or other compromise which
does not include as an unconditional term thereof the giving by the claimant or
plaintiff to such Indemnified Party or Indemnified Person of a release from all
liability in respect to such claim or litigation.  Following indemnification as provided for
hereunder, the indemnifying party shall be subrogated to all rights of the
Indemnified Party or Indemnified Person with respect to all third parties,
firms or corporations relating to the matter for which indemnification has been
made.  The failure to deliver written
notice to the indemnifying party within a reasonable time of the commencement
of any such action shall not relieve such indemnifying party of any liability
to the Indemnified Person or Indemnified Party under this Section 6, except to
the extent that the indemnifying party is prejudiced in its ability to defend
such action.

(d)           The indemnification
required by this Section 6 shall be made by periodic payments of the amount
thereof during the course of the investigation or defense, as and when bills
are received or Indemnified Damages are incurred.

(e)           The indemnity
agreements contained herein shall be in addition to (i) any cause of action or
similar right of the Indemnified Party or Indemnified Person against the
indemnifying party or others, and (ii) any liabilities the indemnifying party
may be subject to pursuant to the law.

7.             CONTRIBUTION.

To the extent any
indemnification by an indemnifying party is prohibited or limited by law, the
indemnifying party agrees to make the maximum contribution with respect to any
amounts for which it would otherwise be liable under Section 6 to the fullest
extent permitted by

law; provided, however,
that:  (i) no seller of Registrable
Securities guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) shall be entitled to contribution from any
seller of Registrable Securities who was not guilty of fraudulent
misrepresentation; and (ii) contribution by any seller of Registrable
Securities shall be limited in amount to the net amount of proceeds received by
such seller from the sale of such Registrable Securities.

8.             REPORTS UNDER THE
EXCHANGE ACT.

With a view to
making available to the Buyer the benefits of Rule 144 promulgated under the
Securities Act or any similar rule or regulation of the SEC that may at any
time permit the Buyer to sell securities of the Company to the public without
registration (“Rule 144”) the Company agrees to:

(a)           make and keep public
information available, as those terms are understood and defined in Rule 144;

(b)           file with the SEC in a
timely manner all reports and other documents required of the Company under the
Securities Act and the Exchange Act so long as the Company remains subject to
such requirements (it being understood that nothing herein shall limit the Company’s
obligations under Section 4(c) of the Securities Purchase Agreement) and the
filing of such reports and other documents as are required by the applicable
provisions of Rule 144; and

(c)           furnish to the Buyer so
long as the Buyer owns Registrable Securities, promptly upon request, (i) a
written statement by the Company that it has complied with the reporting
requirements of Rule 144, the Securities Act and the Exchange Act, (ii) a copy
of the most recent annual or quarterly report of the Company and such other
reports and documents so filed by the Company, and (iii) such other information
as may be reasonably requested to permit the Buyer to sell such securities
pursuant to Rule 144 without registration.

9.             AMENDMENT OF
REGISTRATION RIGHTS.

Provisions of this
Agreement may be amended and the observance thereof may be waived (either
generally or in a particular instance and either retroactively or
prospectively), only with the written consent of the Company and the Buyer who
hold Registrable Securities, which consent shall not be unreasonably withheld,
conditioned or delayed.  Any amendment or
waiver effected in accordance with this Section 9 shall be binding upon the
Buyer and the Company.  No consideration
shall be offered or paid to any Person to amend or consent to a waiver or
modification of any provision of any of this Agreement unless the same
consideration also is offered to all of the parties to this Agreement.

10.           MISCELLANEOUS.

(a)           A Person is deemed to
be a holder of Registrable Securities whenever such Person owns or is deemed to
own of record such Registrable Securities or owns the right to receive the
Registrable Securities.  If the Company
receives conflicting instructions, notices or

elections from two (2) or
more Persons with respect to the same Registrable Securities, the Company shall
act upon the basis of instructions, notice or election received from the
registered owner of such Registrable Securities.

(b)           No Piggyback on
Registrations.  Neither the Company
nor any of its security holders (other than the Buyer in such capacity pursuant
hereto) may include securities of the Company in the initial Registration
Statement other than the Registrable Securities.  The Company shall not file any other registration
statements until the initial Registration Statement required hereunder is
declared effective by the SEC, provided that this Section 10(b) shall not
prohibit the Company from filing amendments to registration statements already
filed.

(c)           Piggy-Back
Registrations.  If at any time during
the Registration Period there is not an effective Registration Statement
covering all of the Registrable Securities and the Company shall determine to
prepare and file with the SEC a registration statement relating to an offering
for its own account or the account of others under the Securities Act of any of
its equity securities, other than on Form S-4 or Form S-8 (each as promulgated
under the Securities Act) or their then equivalents relating to equity
securities to be issued solely in connection with any acquisition of any entity
or business or equity securities issuable in connection with the stock option
or other employee benefit plans, then the Company shall send to the Buyer a
written notice of such determination and, if within fifteen (15) days after the
date of such notice, the Buyer shall so request in writing, the Company shall
include in such registration statement all or any part of such Registrable
Securities the Buyer requests to be registered; provided, however, that, the
Company shall not be required to register any Registrable Securities pursuant
to this Section 10(c) that are eligible for resale pursuant to Rule 144(k)
promulgated under the Securities Act or that are the subject of a then
effective Registration Statement.

(d)           Any notices, consents,
waivers or other communications required or permitted to be given under the
terms of this Agreement must be in writing and will be deemed to have been
delivered:  (i) upon receipt, when
delivered personally; (ii) upon receipt, when sent by facsimile (provided
confirmation of transmission is mechanically or electronically generated and
kept on file by the sending party); or (iii) one (1) business day after deposit
with a nationally recognized overnight delivery service, in each case properly
addressed to the party to receive the same. 
The addresses and facsimile numbers for such communications shall be:

	
  If to the Company, to:

  	
   

  	
  Open Energy Corporation

  514 Via de la Valle, Suite 200

  Solana Beach, CA 92075

  Attention: David Saltman, Chief Executive Officer

  Telephone:    858-794-8800

  Facsimile:       858-794-8811

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  With Copy to:

  	
   

  	
  Martin J. Waters, Esq

  Wilson Sonsini Goodrich & Rosati PC

  12235 El Camino Real, Suite 200

  

 

 

	
  

  	
   

  	
  San Diego, CA 92130

  Telephone:    858-350-2300

  Facsimile:       858-350-2399

  

 

If to a Buyer, to its
address and facsimile number on the Schedule of Buyers attached hereto, with
copies to such Buyer’s representatives as set forth on the Schedule of Buyers
or to such other address and/or facsimile number and/or to the attention of
such other person as the recipient party has specified by written notice given
to each other party five (5) days prior to the effectiveness of such
change.  Written confirmation of receipt
(A) given by the recipient of such notice, consent, waiver or other
communication, (B) mechanically or electronically generated by the sender’s
facsimile machine containing the time, date, recipient facsimile number and an
image of the first page of such transmission or (C) provided by a courier or
overnight courier service shall be rebuttable evidence of personal service,
receipt by facsimile or receipt from a nationally recognized overnight delivery
service in accordance with clause (i), (ii) or (iii) above, respectively.

(e)           Failure of any party to
exercise any right or remedy under this Agreement or otherwise, or delay by a
party in exercising such right or remedy, shall not operate as a waiver
thereof.

(f)            The laws of the State
of New York shall govern all issues concerning the relative rights of the
Company and the Buyer as its stockholders. 
All other questions concerning the construction, validity, enforcement
and interpretation of this Agreement shall be governed by the internal laws of
the State of New York, without giving effect to any choice of law or conflict
of law provision or rule (whether of the State of New York or any other
jurisdiction) that would cause the application of the laws of any jurisdiction
other than the State of New Jersey.  Each
party hereby irrevocably submits to the exclusive jurisdiction of the state and
federal courts sitting in The City of New York, Borough of Manhattan, for the
adjudication of any dispute hereunder or in connection herewith or with any
transaction contemplated hereby or discussed herein, and hereby irrevocably
waives, and agrees not to assert in any suit, action or proceeding, any claim
that it is not personally subject to the jurisdiction of any such court, that
such suit, action or proceeding is brought in an inconvenient forum or that the
venue of such suit, action or proceeding is improper.  Nothing contained herein shall be deemed to
limit in any way any right to serve process in any manner permitted by
law.  In the event that any provision of
this Agreement is invalid or unenforceable under any applicable statute or rule
of law, then such provision shall be deemed inoperative to the extent that it
may conflict therewith and shall be deemed modified to conform with such
statute or rule of law.  Any such
provision which may prove invalid or unenforceable under any law shall not
affect the validity or enforceability of any other provision of this
Agreement.  Nothing contained herein
shall be deemed or operate to preclude the Buyer from bringing suit or taking
other legal action against the Company in any other jurisdiction to collect on
the Company’s obligations to the Buyer, to realize on any collateral or any
other security for such obligations, or to enforce a judgment or other court
ruling in favor of the Buyer.  THE COMPANY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES
NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR
IN CONNECTION WITH OR

ARISING OUT OF THIS AGREEMENT OR
ANY TRANSACTION CONTEMPLATED HEREBY.

(g)           This Agreement shall
inure to the benefit of and be binding upon the permitted successors and
assigns of each of the parties hereto.

(h)           The headings in this
Agreement are for convenience of reference only and shall not limit or
otherwise affect the meaning hereof.

(i)            This Agreement may be
executed in identical counterparts, each of which shall be deemed an original
but all of which shall constitute one and the same agreement.  This Agreement, once executed by a party, may
be delivered to the other party hereto by facsimile transmission of a copy of
this Agreement bearing the signature of the party so delivering this Agreement.

(j)            Each party shall do
and perform, or cause to be done and performed, all such further acts and
things, and shall execute and deliver all such other agreements, certificates,
instruments and documents, as the other party may reasonably request in order
to carry out the intent and accomplish the purposes of this Agreement and the
consummation of the transactions contemplated hereby.

(k)           The language used in
this Agreement will be deemed to be the language chosen by the parties to
express their mutual intent and no rules of strict construction will be applied
against any party.

(l)             This Agreement is
intended for the benefit of the parties hereto and their respective permitted
successors and assigns, and is not for the benefit of, nor may any provision
hereof be enforced by, any other Person.

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

IN
WITNESS WHEREOF, the Buyer and the Company have caused their
signature page to this Registration Rights Agreement to be duly executed as of
the date first above written.

	
  

  	
  COMPANY:

  
	
   

  	
  OPEN ENERGY CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ David Saltman

  	
   

  
	
   

  	
  Name:

  	
  David Saltman

  
	
   

  	
  Title:

  	
  Chief Executive Officer

  
						

 

Signature
Page to Registration Rights Agreement

IN
WITNESS WHEREOF, the Buyer and the Company have caused their
signature page to this Registration Rights Agreement to be duly executed as of
the date first above written.

	
  

  	
  BUYER:

  
	
   

  	
   

  
	
   

  	
  /s/ Everest Asset Management

  	
   

  
	
   

  	
  By:

  	
   Erwin Speckert, CFA

  
	
   

  	
  Its:

  	
  Managing Director

  
				

 

Signature
Page to Registration Rights Agreement

SCHEDULE
I

SCHEDULE
OF BUYERS

	
  Buyer

  	
   

  	
  Address/Facsimile

  Number of Buyer

  	
   

  	
  Address/Facsimile

  Number of Buyer’s

  Representative

  
	
  Everest Assest Management AG

  	
   

  	
  Rämistrasse 8, P.O. Box 659,

  CH-8024 Zürich

  Switzerland

  	
   

  	
  Richardson & Patel LLP

  405 Lexington Avenue, 26th Floor

  New York, NY 10174

  Attention: Jody R. Samuels, Esq.

  Facsimile:               212-907-6687

  

 

EXHIBIT A

SELLING STOCKHOLDER

AND PLAN OF DISTRIBUTION

Selling Stockholders

The shares of Common Stock being offered by the selling stockholder are
issuable upon conversion of the convertible debenture and upon exercise of the
warrant.  For additional information
regarding the issuance of those convertible note and warrant, see “Private
Placement of Convertible Note and Warrant” above.  We are registering the shares of Common Stock
in order to permit the selling stockholder to offer the shares for resale from
time to time.  Except as otherwise notes
and except for the ownership of the convertible note and the warrant issued
pursuant to the Securities Purchase Agreement, the selling stockholders has not
had any material relationship with us within the past three years.

The table below lists the selling stockholder and other information
regarding the beneficial ownership of the shares of Common Stock by such
selling stockholder.  The second column
lists the number of shares of Common Stock beneficially owned by such selling
stockholder, based on its ownership of the convertible debenture and warrant,
as of                
, 200    , assuming conversion of the convertible debenture
and exercise of the warrant held by the selling stockholder on that date,
without regard to any limitations on conversions or exercise.

The third column lists the shares of Common Stock being offered by this
prospectus by the selling stockholder.

In accordance with the terms of a registration rights agreement with
the selling stockholders, this prospectus generally covers the resale of at
least (i) 300% of the number of Conversion Shares issued and issuable pursuant
to the convertible debentures as of the trading day immediately preceding the
date the registration statement is initially filed with the SEC, and (ii) 100%
of the number of warrant shares issued and issuable pursuant to the warrants as
of the trading day immediately preceding the date the registration statement is
initially filed with the SEC.  Because
the conversion price of the convertible debentures and the exercise price of
the warrants may be adjusted, the number of shares that will actually be issued
may be more or less than the number of shares being offered by this
prospectus.  The fourth column assumes
the sale of all of the shares offered by the selling stockholders pursuant to
this prospectus.

Under the terms of the convertible note and the warrant, a selling stockholder
may not convert the convertible note or exercise the warrants to the extent
such conversion or exercise would cause such selling stockholder, together with
its affiliates, to beneficially own a number of shares of Common Stock which
would exceed 4.99% or 9.99% of our then outstanding shares of Common Stock
following such conversion or exercise, excluding for purposes of such
determination shares of Common Stock issuable upon conversion of the
convertible note which has not been converted and upon exercise of the warrant
which has not been exercised.  The number
of shares in the second column does not reflect this limitation.  The selling stockholder may sell all, some or
none of their shares in this offering. 
See “Plan of Distribution.”

 

	
  Name of Selling

  Stockholder

  	
   

  	
  Number of

  Shares Owned

  Prior to

  Offering

  	
   

  	
  Maximum Number of

  Shares

  to be Sold Pursuant to this

  Prospectus

  	
   

  	
  Number of Shares Owned

  After Offering

  
	
      

  	
   

  	
      

  	
   

  	
      

  	
   

  	
   

  
	
      

  	
   

  	
      

  	
   

  	
      

  	
   

  	
   

  
	
      

  	
   

  	
      

  	
   

  	
      

  	
   

  	
   

  

 

Plan of Distribution

The Selling Stockholder (the “Selling Stockholder”) of the common stock
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 the                    or
any other stock exchange, market or trading facility on which the shares are
traded or in private transactions.  These
sales may be at fixed or negotiated prices. 
The Selling Stockholder 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;

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

·                  through
the writing or settlement of options or other hedging transactions, whether
through an options exchange or otherwise;

·                  a
combination of any such methods of sale; or

·                  any
other method permitted pursuant to applicable law.

The Selling Stockholder may also sell shares under Rule 144 under the
Securities Act of 1933, as amended (the “Securities Act”), if available,
rather than under this prospectus.

Broker-dealers engaged by the Selling Stockholder may arrange for other
brokers-dealers to participate in sales. 
Broker-dealers may receive commissions or discounts from the Selling
Stockholder (or, if any broker-dealer acts as agent for the purchaser of
shares, from the purchaser) in amounts to be negotiated, but, except as set
forth in a supplement to this Prospectus, in the case of an agency transaction
not in excess of a customary brokerage commission in compliance with NASDR Rule
2440; and in the case of a principal transaction a markup or markdown in
compliance with NASDR IM-2440.

In connection with the sale of the common stock or interests therein,
the Selling Stockholder may enter into hedging transactions with broker-dealers
or other financial institutions, which may in turn engage in short sales of the
Common Stock in the course of hedging the positions they assume.  The Selling Stockholder may also enter into
option or other transactions with broker-dealers or other financial
institutions or the creation of one or more derivative securities which require
the delivery to such broker-dealer or other financial institution of shares
offered by this prospectus, which shares such broker-dealer or other financial
institution may resell pursuant to this prospectus (as supplemented or amended
to reflect such transaction).

The Selling Stockholder and any broker-dealers or agents that are
involved in selling the shares may be deemed to be “underwriters” within the
meaning of the Securities Act in connection with such sales.  In such event, any commissions received by
such broker-dealers or agents and any profit on the resale of the shares
purchased by them may be deemed to be underwriting commissions or discounts
under the Securities Act.  The Selling
Stockholder has informed the Company that it does not have any written or oral
agreement or understanding, directly or indirectly, with any person to
distribute the Common Stock. In no event shall any broker-dealer receive fees,
commissions and markups which, in the aggregate, would exceed eight percent
(8%).

The Company is required to pay certain fees and expenses incurred by
the Company incident to the registration of the shares.  The Company has agreed to indemnify the
Selling Stockholder against certain losses, claims, damages and liabilities,
including liabilities under the Securities Act.

Because the Selling Stockholder may be deemed to be “underwriters”
within the meaning of the Securities Act, they will be subject to the
prospectus delivery requirements of the Securities Act including Rule 172
thereunder.  In addition, any securities
covered by this prospectus which qualify for sale pursuant to Rule 144 under
the Securities Act may be sold under Rule 144 rather than under this
prospectus.  There is no underwriter or
coordinating broker acting in connection with the proposed sale of the resale
shares by the Selling Stockholders.

We agreed to keep this prospectus effective until the earlier of (i)
the date on which the shares may be resold by the Selling Stockholder without
registration and without regard to any volume limitations by reason of Rule
144(k) under the Securities Act or any other rule of similar effect or (ii) all
of the shares have been sold pursuant to this prospectus or Rule 144 under the
Securities Act or any other rule of similar effect.  The resale shares will be sold only through
registered or licensed brokers or dealers if required under applicable state
securities laws.  In addition, in certain
states, the resale shares may not be sold unless they have been registered or
qualified for sale in the applicable state or an exemption from the
registration or qualification requirement is available and is complied with.

Under applicable rules and regulations under the Exchange Act, any
person engaged in the distribution of the resale shares may not simultaneously
engage in market making activities with respect to the common stock for the
applicable restricted period, as defined in Regulation M, prior to the
commencement of the distribution.  In
addition, the Selling Stockholder will be subject to applicable provisions of
the Exchange Act and the rules and regulations thereunder, including Regulation
M, which may limit the timing of purchases and sales of shares of the common
stock by the Selling Stockholder or any other person.  We will make copies of this prospectus
available to the Selling Stockholder and have informed him of the need to
deliver a copy of this prospectus to each purchaser at or prior to the time of
the sale (including by compliance with Rule 172 under the Securities Act).

EXHIBIT B

OTHER
DISCLOSURES

See attachment
provided separately.

EXHIBIT C

FORM OF
NOTICE OF EFFECTIVENESS

OF REGISTRATION STATEMENT

Attention:

Re:          OPEN ENERGY
CORPORATION

Ladies and Gentlemen:

We are counsel to
Open Energy Corporation, a Nevada corporation (the “Company”), and have
represented the Company in connection with that certain Securities Purchase
Agreement (the “Securities Purchase Agreement”) entered into by and
among the Company and the Buyer named therein (the “Buyer”) pursuant to
which the Company issued to the Buyer shares of its Common Stock, par value
$0.01 per share (the “Common Stock”). 
Pursuant to the Purchase Agreement, the Company also has entered into a
Registration Rights Agreement with the Buyer (the “Registration Rights
Agreement”) pursuant to which the Company agreed, among other things, to
register the Registrable Securities (as defined in the Registration Rights
Agreement) under the Securities Act of 1933, as amended (the “Securities Act”).  In connection with the Company’s obligations
under the Registration Rights Agreement, on                  
, the Company filed a Registration Statement on Form                  
File No. 333-                 )
(the “Registration Statement”) with the Securities and Exchange
Commission (the “SEC”) relating to the Registrable Securities which
names the Buyer as a selling stockholder there under.

In connection with
the foregoing, we advise you that a member of the SEC’s staff has advised us by
telephone that the SEC has entered an order declaring the Registration
Statement effective under the Securities Act at [ENTER TIME OF EFFECTIVENESS]
on [ENTER DATE OF EFFECTIVENESS] and we have no knowledge, after telephonic
inquiry of a member of the SEC’s staff, that any stop order suspending its
effectiveness has been issued or that any proceedings for that purpose are
pending before, or threatened by, the SEC and the Registrable Securities are
available for resale under the Securities Act pursuant to the Registration
Statement.

	
  

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  [Law Firm]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  

 

cc:           [LIST NAMES
OF BUYER]Exhibit 10.1

September 6, 2007

PERSONAL
AND CONFIDENTIAL

Ellen
B.Richstone

Dear
Ellen:

This letter agreement “(Agreement”) will confirm the terms of your
separation of employment from Sonus Networks, Inc. (“Sonus” or the “Company”).

1.                                       Employment Status and Final Payments. 
Your employment with the Company shall  terminate following a transition period to be
determined by the Parties. On the Separation Date (date to be determined), the
Company shall pay you (i) all earned but unpaid salary payments up to the
Separation Date, and (ii) all accrued but unused vacation pay, in accordance
with the Company’s vacation policy.

2.                                       Payments.  After
your Separation Date, subject to your execution of this Agreement and the expiration of the seven (7) day
revocation period described below, you will receive a lump sum
payment of $273,156, (calculated as one year of your current annualized base
salary). All payments set forth in this Agreement shall be subject to all
applicable federal, state and/or local withholding and/or payroll taxes.  Nothing in this Agreement shall be construed
to require the Company to make any payments to compensate you for any adverse
tax effect associated with any payment or benefits or for any deduction or withholding
from any payment or benefit.

3.                                       Health Benefits.  Your current health benefits (medical, dental
and vision) will continue through the end of the month in which you are
separated. After this date, you will have the right to continue your coverage
by electing COBRA.  If you choose to
elect COBRA, all insurance premiums and any administrative fees associated
therewith, shall be your sole responsibility.

4.                                       Benefits Cessation. 
As of the
Separation Date, the following benefits cease to be effective:  vacation accrual, sick and personal day
accrual, 401k, life and accidental death and dismemberment, flexible spending
accounts and short-term/long-term disability.  
You are advised to consult Sonus’ Human Resources Department with
respect to your rights to continue certain benefits at your own expense.

5.                                       Stock
Options. 
As set forth in the Company’s Stock Option and Incentive Plan (the “Plan”)
and the stock option agreement(s) between you and the Company (the “Option
Agreements”), your options to purchase the Company’s common stock shall cease
vesting on the

Separation Date.  You will have 12 months from the date of
termination to exercise your outstanding vested shares.

6.                                       Stock
Transactions.  As of the Separation
Date, you will no longer be obligated to comply with the Company’s trading
black out restrictions regarding the purchase or sale of the Company’s stock or
the exercise of stock options, although you will continue to be subject to laws
regarding insider trading.

7.                                       401(k)
Plan.  All contributions to the Sonus
Networks 401(k) Plan will continue through your Separation Date.  You will be allowed under the plan to
maintain your accumulated Sonus Networks 401(k) account funds in your Sonus
Networks 401(k) account for an unspecified amount of time, or until you close
the account, unless the Sonus Networks 401(k) Plan provides for a specified end
date by which you must withdraw or rollover your account funds.  If your balance is less than $5,000.00, you
will need to rollover your money or take a distribution.

8.                                       Company
Property.   On or before the
Separation Date, you agree to return to the Company all Company property and
materials, including but not limited to, personal computers, laptops,
diskettes, intangible information stored on diskettes, software programs and
data compiled with the use of those programs, software passwords or codes,
tangible copies of trade secrets and confidential information, telephone charge
cards, manuals, building keys and passes, names and addresses of all Company
customers and potential customers, customer lists, customer contacts, sales
information, memoranda, sales brochures, business or marketing plans, reports,
projections, and any and all other information or property previously or
currently held or used by you that is or was related to your employment with
the Company.  You may retain your
cellular phone, Blackberry and related equipment. You agree that if you
discover any other Company or proprietary materials in your possession after
the Separation Date, you will immediately notify the Company and  return such materials to the Company.

9.                                       Business
Expenses.  The Company will also reimburse you for all
appropriately documented business expenses, including dues renewal and seminar
fees, incurred through your Separation Date, in accordance with Company
policy.  You will be required to complete
a Sonus expense report and submit it to me no later than thirty (30) days after
your Separation Date.

10.                                 Contractual Obligations.  Your
Sonus Non-competition and Confidentiality Agreement continues in effect, per
its terms, after your separation of employment and you continue to be bound by
all pertinent provisions thereof.

11.                                 Cooperation.  You
agree to cooperate with and assist the Company in any administrative or judicial
proceedings involving the Company, including but not limited to making your
self available at reasonable times upon reasonable notice for meetings with
counsel, depositions and court appearances. 
The Company agrees to take all reasonable steps to insure that any
required assistance does not interfere with any other work in which you may
then be engaged.  In consideration of the
releases and other commitments made by and between the parties as set forth in
this Agreement, Sonus will pay your costs and expenses, including reasonable
attorneys’ fees, incurred in connection with any claim, lawsuit, formal or
informal investigations, subpoena, regulatory proceeding or any pother
proceeding which arises out of or

 2
 

is related to the Company’s activities during your employment.  Sonus’ obligation to pay such fees shall be
conditioned upon your continued compliance with the terms of this Agreement.

12.                                 Non-Disparagement Obligations.  You
agree not to take any action or make any statement, written or oral, which
disparages or criticizes the Company, its management, directors, investors, or
any other parties involved in a business relationship with the Company, or its
practices, or which disrupts or impairs the Company’s normal operations,
including actions or statements that would (1) harm the reputation of the
Company with its current and prospective customers, distributors, suppliers,
other business partners, or the public; or (2) interfere with existing
contractual or employment relationships with current and prospective customers,
suppliers, distributors, other business partners or Company employees. Sonus
will instruct its’ directors and officers, and those employees made privy to
the terms of this Agreement not to make any statements, orally or in writing,
which disparage you and damage your personal or professional reputation.

13.                                 Release:
 In exchange for the consideration provided herein, and other good and
valuable consideration, the receipt of which you hereby acknowledge, you hereby
agree that you and your representatives, agents, estate, heirs, successors and
assigns (“You”) release, remise, discharge, indemnify and hold harmless the
Releasees (defined to include Sonus Networks, Inc., its predecessors,
successors, parents, subsidiaries, divisions, affiliates, assigns, plan
sponsors and plan fiduciaries, and its and their current and former directors,
shareholders, investors, fiduciaries, officers, employees, representatives,
attorneys and/or agents, all both individually, in their capacity acting on the
Company’s behalf, and in their official capacities), of and from any and all
actions or causes of action, suits, claims, complaints, obligations,
liabilities, contracts, agreements, promises, debts and damages, whether
existing or contingent, known or unknown, suspected or unsuspected, arising up
to and including the date of execution of this Agreement, including, but not
limited to, any and all claims arising out of or in connection with (i) your
employment and separation from employment with the Company; (ii) any federal,
state or local law, constitution or regulation regarding either securities,
employment, employment benefits, or employment discrimination and/or
retaliation including, without limitation, those laws or regulations concerning
discrimination on the basis of race, color, creed, religion, age, sex, sex
harassment, sexual orientation, genetic information, national origin, ancestry,
handicap or disability, veteran status or any military service or application
for military service; (iii) any contract, whether oral or written, express
or implied, any tort, whistleblower claim or common law claim; and (iv) your
ownership of the Company’s stock.  This
release is intended by You to be all encompassing and to act as a full and
total release of any claims, whether specifically enumerated herein or not,
that You have, may have or have had against the Releasees up to the date of
execution of this Agreement.  Notwithstanding
the above, this release does not apply to the enforcement of:  (i) this Agreement; (ii) your Stock Options
Agreement; (iii) your Indemnity Agreement; or (iv) any indemnification
provision contained in any relevant by-law of the Company.

 3
 

14.                                 Waiver
of Rights and Claims Under the Age Discrimination in Employment Act of 1967.
As you are 40 years of age or older, you are being informed that you have or
may have specific rights and/or claims under the Age Discrimination in
Employment Act of 1967 (ADEA) and you agree that:

(a)                                  in
consideration for the consideration provided herein, you specifically and
voluntarily waive such rights and/or claims under the ADEA you might have
against the Releasees to the extent such rights and/or claims arose prior to
the date this Agreement was executed;

(b)                                 you
understand that rights or claims under the ADEA which may arise after the date
this Agreement is executed are not waived by you;

(c)                                  you
are advised that you have at least 21 days within which to consider the terms
of this Agreement and to consult with or seek advice from an attorney of your
choice or any other person of your choosing prior to executing this Agreement
and that such 21-day review period will not be affected or extended by any
revisions, whether material or immaterial, that might be made to this
Agreement;

(d)                                 in
entering into this Agreement you are not relying on any representation, promise
or inducement made by the Company or its attorneys with the exception of those
promises described in this document.

(e)                                  you
may revoke this Agreement for a period of seven (7) days following your
execution hereof and all rights and obligations of both parties under this
Agreement shall not become effective or enforceable until the seven (7) day
revocation period has expired.

15.                                 Accord
and Satisfaction.  You agree that the payments and benefits set
forth in this Agreement, together with payments and benefits the Company
previously provided to you, are complete payment, settlement, accord and
satisfaction with respect to all obligations and liabilities of the Releasees
to You, and with respect to all claims, causes of action and damages that could
be asserted by You against the Releasees regarding your employment or
separation from employment with the Company, including, without limitation, all
claims for wages, salary, commissions, draws, car allowances, incentive pay,
bonuses, business expenses, vacation, stock, stock options, severance pay,
attorneys’ fees, compensatory damages, exemplary damages, or other
compensation, benefits, costs or sums.

16.                                 Entire Agreement. This Agreement is the entire agreement
between you and the Company, and all previous agreements or promises between
you and the Company are superseded, null and void, except for the Non-Compete
Agreement, the Option Agreement(s) and the Plan, each of which shall remain in
full force and effect in accordance with their respective terms.

17.                                 Choice of Law. 
The law of the Commonwealth of Massachusetts will govern any dispute
about this Agreement, including any interpretation or enforcement of this
Agreement, and you hereby submit to the jurisdiction and venue of any
Massachusetts court.

 4
 

18.  General Terms.  In the event of any dispute, this Agreement
will be construed as a whole, will be interpreted in accordance with its fair
meaning, and will not be construed strictly for or against either you or the
Company.  This Agreement may not be
changed, amended, modified, altered or rescinded except upon the express
written consent of both you and an authorized Company officer.  Any waiver of any provision of this Agreement
by the Company shall not constitute a waiver of any other provision of this
Agreement unless the Company expressly so indicates otherwise.  This Agreement shall not be assigned to you
but shall be binding on the parties hereto and their respective heirs, legal
representatives, successors and assigns and shall inure to the benefit of the
Company’s successors and assigns.  If one
or more of the provisions contained in this Agreement shall for any reason be
held to be excessively broad as to scope, activity, subject or otherwise so as
to be unenforceable at law, such provision or provisions shall be construed by
the appropriate judicial body by limiting or reducing them, so as to be
enforceable to the maximum extent compatible with the applicable laws as it
shall then appear.

Very truly yours,

	
  SONUS NETWORKS, INC.

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Hassan Ahmed

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Hassan Ahmed

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Chief Executive
  Officer

  	
   

  	
   

  
					

 

YOU REPRESENT THAT YOU HAVE READ
THE FOREGOING AGREEMENT, THAT YOU FULLY UNDERSTAND THE TERMS AND CONDITIONS OF
SUCH AGREEMENT AND THAT YOU ARE VOLUNTARILY EXECUTING THE SAME.  IN ENTERING INTO THIS AGREEMENT, YOU DO NOT
RELY ON ANY REPRESENTATION, PROMISE OR INDUCEMENT MADE BY THE RELEASEES WITH
THE EXCEPTION OF THE CONSIDERATION DESCRIBED IN THIS DOCUMENT.

Accepted and agreed:

	
  By:

  	
  /s/ Ellen B.
  Richstone

  	
   

  	
  September 6, 2007

  	
   

  
	
   

  	
  Ellen B. Richstone

  	
   

  	
  Date

  	
   

  

 

 5
 

IF YOU DO NOT WISH TO
USE THE 21-DAY PERIOD,

PLEASE
CAREFULLY REVIEW AND SIGN THIS DOCUMENT

I, Ellen Richstone, acknowledge that I was informed
and understand that I have 21 days within which to consider the attached
Agreement, have been advised of my right to consult with an attorney regarding
such Agreement and have considered carefully every provision of the Agreement,
and that after having engaged in those actions, I prefer to and have requested
that I enter into the Agreement prior to the expiration of the 21 day period.

 

	
  Dated:

  	
  September 6,
  2007

  	
   

  	
   

  	
  /s/ Ellen B.
  Richstone

  	
   

  
	
   

  	
   

  	
  Ellen B.
  Richstone

  

 

 6

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