Document:

Exhibit 4.2

                          REGISTRATION RIGHTS AGREEMENT

     This Registration Rights Agreement (this "Agreement") is effective as of
April 21, 2003 and is entered into between Measurement Specialties, Inc., a New
Jersey corporation (the "Company"), and the Holders (as defined herein).

                                    Recitals
                                    --------

     WHEREAS, the Company and Holder entered into that certain Stock Purchase
Warrant, effective as of April 21, 2003 (the "Warrant"), pursuant to which
Company granted Holder the right to purchase up to 600,000 shares of Common
Stock on the terms set forth therein; and

     WHEREAS, the Company and the Holder desire to provide for certain
arrangements with respect to the registration under the Securities Act of the
shares of Common Stock purchased pursuant to the Warrant (such purchased shares,
the "Shares");

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

     1.     Certain Definitions.

     As used in this Agreement, the following terms shall have the following
     respective meanings:

     "Agreement" shall have the meaning specified in the preamble to this
      ---------
     Agreement.

     "Common Stock" means the common stock, no par value per share, of the
      ------------
     Company.

     "Company" shall have the meaning specified in the preamble to this
      -------
     Agreement

     "Demand Registration Statement" shall have the meaning specified in Section
      -----------------------------
     2.1(a) of this Agreement.

     "Exchange Act" means the Securities Exchange Act of 1934, as amended, or
      ------------
     any successor federal statute, and the rules and regulations of the SEC
     issued under such Act, as they each may, from time to time, be in effect.

     "Form S-3" means a Registration Statement on Form S-3 (or any registration
      --------
     form under the Securities Act subsequently adopted by the SEC which
     similarly permits inclusion or incorporation of substantial information by
     reference to other documents filed by the Company with the SEC) and
     includes the use of such form for offerings of the Shares on a delayed or
     continuous basis pursuant to Rule 415 under the Securities Act.

     "Holder" means Four Corners Capital Partners, LP, a Texas limited
      ------
     partnership.

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     "Indemnified Party" shall have the meaning specified in Section 2.5(c) of
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     this Agreement.

     "Indemnifying Party" shall have the meaning specified in Section 2.5(c) of
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     this Agreement.

     "Prospectus" means the prospectus included in any Registration Statement,
      ----------
     as amended or supplemented by an amendment or prospectus supplement,
     including post-effective amendments, and all material incorporated by
     reference or deemed to be incorporated by reference in such Prospectus.

     "Registration Statement" means a registration statement filed by the
      ----------------------
     Company with the SEC for a public offering and sale of securities of the
     Company (other than a registration statement on Form S-8 or Form S-4, or
     its successors, or any registration statement covering only securities
     proposed to be issued in exchange for securities or assets of another
     corporation).

     "Registration Expenses" means the expenses described in Section 2.4.
      ---------------------

     "Registrable Shares" means (i) all Shares and (ii) any other shares of
      ------------------
     Common Stock issued in respect of such Shares (because of stock splits,
     stock dividends, reclassifications, recapitalizations, or similar events);
     provided, however, that shares of Common Stock which are Registrable Shares
     --------  -------
     shall cease to be Registrable Shares upon any sale pursuant to a
     Registration Statement or Rule 144 under the Securities Act.

     "SEC" means the Securities and Exchange Commission, or any other federal
      ---
     agency at the time administering the Securities Act.

     "Securities Act" means the Securities Act of 1933, as amended, or any
      --------------
     successor federal statute, and the rules and regulations of the SEC issued
     under such Act, as they each may, from time to time, be in effect.

     "Selling Stockholder" means the Holder owning Registrable Shares included
      -------------------
     in a Registration Statement.

     "Shares" shall have the meaning specified in the recitals to this
      ------
     Agreement.

     "Warrant" shall have the meaning specified in the recitals to this
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     Agreement.

     2.     Registration Rights.

          2.1     Required Registrations.
                  ----------------------

               (a)  Subject to the limitations set forth below, the Holder
                    may demand, in writing, that the Company file and cause to
                    be declared effective a Registration Statement on form S-3
                    (a "Demand Registration Statement") covering any or all of
                    the Registrable Shares held by such Holder. The Company
                    shall use its reasonable best efforts to

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                    file and cause such Demand Registration Statement to become
                    effective as soon as possible following filing thereof, but
                    not later than 75 days following such demand for
                    registration and shall keep the Demand Registration
                    Statement effective for so long as the offering thereunder
                    has not been completed (but in no event longer than 180 days
                    from the effective date of the Demand Registration
                    Statement). The Holder is entitled to demand that the
                    Company file and cause to be declared effective a
                    Registration Statement on 4 separate occasions.
                    Notwithstanding anything to the contrary, no demand shall be
                    deemed to have been made pursuant to this Section 2.1 unless
                    and until a Demand Registration Statement in respect of such
                    demand shall have become effective and (i) such Demand
                    Registration Statement will not have become subject to a
                    stop order, injunction or other order or requirement of the
                    SEC or other governmental agency or court, (ii) all of the
                    conditions to closing specified in the underwriting
                    agreement or purchase agreement entered into in connection
                    with such Demand Registration Statement, if any, will have
                    been satisfied, other than the failure to so satisfy as a
                    result of some act or omission by the Holder.

               (b)  [Intentionally blank]

               (c)  If Holder intends to distribute the Registrable Shares
                    covered by their request by means of an underwriting, they
                    shall so advise the Company as a part of their request made
                    pursuant to Section 2.1(a) The securities of the Company
                    held by holders other than Holder shall be excluded from
                    such registration and underwriting to the extent deemed
                    advisable by the managing underwriter.

               (d)  The Selling Stockholders shall have the right to select the
                    managing underwriter(s) for any underwritten offering
                    requested pursuant to Section 2.1, subject to the approval
                    of the Company, which approval will not be unreasonably
                    withheld.

               (e)  The Company shall not be required to effect more than four
                    (4) registrations pursuant to Section 2.1 and shall not be
                    required to file a Demand Registration Statement within six
                    months after the effective date of any Demand Registration
                    Statement relating to any prior demand registration.

               (f)  The Company shall not be required to file a Demand
                    Registration Statement pursuant to Section 2.1 if the
                    Company is unable, for any reason, to register such
                    Registrable Shares or Form S-3 or (ii) with respect to
                    Registrable Shares requested by any Selling Stockholder to
                    be registered, all of which can be sold in the

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                    immediately following 3 month period pursuant to Rule 144 of
                    the Securities Act.

               (g)  If at the time of any request to register Registrable Shares
                    pursuant to this Section 2.1, the Company is engaged in any
                    activity or transaction or preparations or negotiations for
                    any activity or negotiation that the Company desires to keep
                    confidential for business reasons, and the board of
                    directors of the Company determines in good faith that the
                    public disclosure requirements imposed on the Company would
                    require disclosure of such activity or transaction, then the
                    Company may defer such registration for a period not in
                    excess of 90 days from the date of the demand request;
                    provided, that such right to delay a request may be
                    exercised by the Company not more than once in any 12-month
                    period.

          2.2     Incidental Registration.
                  -----------------------

               (a)  Whenever the Company proposes to file a Registration
                    Statement (other than a Registration Statement filed
                    pursuant to Section 2.1) at any time and from time to time,
                    it will at least 30 days prior to such filing, give written
                    notice to Holder of its intention to do so. Upon the written
                    request of Holder given within 20 days after the Company
                    provides such notice (which request shall state the intended
                    method of disposition of such Registrable Shares), the
                    Company shall cause all Registrable Shares which the Company
                    has been requested by such Holder to register to be
                    registered under the Securities Act to the extent necessary
                    to permit their sale or other disposition in accordance with
                    the intended methods of distribution specified in the
                    request of such Holder; provided that the Company shall have
                    the right to postpone or withdraw any registration effected
                    pursuant to this Section 2.2 without obligation to Holder.
                    If Holder decides not to include all its Registrable Shares
                    in any Registration Statement thereafter filed by the
                    Company under this Section 2.2, such Holder shall
                    nevertheless continue to have the right to include any
                    Registrable Shares in any subsequent Registration
                    Statement(s) as may be filed by the Company with respect to
                    the offerings of its securities, all upon the terms and
                    conditions set forth herein.

               (b)  If the registration for which the Company gives notice
                    pursuant to Section 2.2(a) is a registered public offering
                    involving an underwriting, the Company shall so advise
                    Holder as a part of the written notice given pursuant to
                    Section 2.2(a). In such event, the right of any Holder to
                    include its Registrable Shares in such registration pursuant
                    to Section 2.2 shall be conditioned upon such Holder's
                    participation in such underwriting on the terms set forth

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                    herein. Holder proposing to distribute securities through
                    such underwriting shall enter into an underwriting agreement
                    in customary form with the underwriter or underwriters
                    selected for the underwriting by the Company.
                    Notwithstanding any other provision of this Section 2.2, if
                    the managing underwriter determines in good faith that the
                    inclusion of all shares requested to be registered would
                    adversely affect the offering, the Company may limit the
                    number of Registrable Shares to be included in the
                    registration and underwriting as set forth herein. The
                    Company shall so advise all holders of registrable shares
                    requesting registration, and the number of shares that are
                    entitled to be included in the registration and underwriting
                    shall be allocated in the following manner. The securities
                    of the Company held by all stockholders requesting
                    registration of shares of Common Stock shall be allocated
                    among all stockholders requesting registration in
                    proportion, as nearly as practicable, to the respective
                    number of shares that were requested to be included in such
                    registration. If any holder of registrable shares
                    disapproves of the terms of any such underwriting, such
                    person may elect to withdraw therefrom by written notice to
                    the Company, and any registrable shares excluded or
                    withdrawn from such underwriting shall be withdrawn from
                    such registration and reallocated among any remaining
                    selling stockholders in accordance with the immediately
                    preceding sentence.

               (c)  Notwithstanding the foregoing, the Company shall not be
                    required, pursuant to this Section 2.2, to include any
                    Registrable Shares in a Registration Statement if all
                    Registrable Shares proposed to be sold by such Selling
                    Stockholder can be sold by within the immediately following
                    3 month period pursuant to Rule 144 under the Securities
                    Act.

          2.3     Registration Procedures.
                  -----------------------

               (a)  If and whenever the Company is required by the provisions of
                    this Agreement to effect the registration of any Registrable
                    Shares under the Securities Act, the Company shall:

               (i)  file with the SEC a Registration Statement with respect to
                    such Registrable Shares and use its reasonable best efforts
                    to cause that Registration Statement to become effective as
                    soon as possible;

               (ii) as expeditiously as possible prepare and file with the SEC
                    any amendments and supplements to the Registration Statement
                    and the prospectus included in the Registration Statement as
                    may be necessary to comply with the provisions of the
                    Securities Act (including the anti-fraud provisions thereof)
                    and to keep the

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                    Registration Statement effective for 180 days from the
                    effective date or such lesser period until all such
                    Registrable Shares are sold;

              (iii) as expeditiously as possible furnish to each selling
                    stockholder such reasonable numbers of copies of the
                    Prospectus, including any preliminary Prospectus, in
                    conformity with the requirements of the Securities Act, and
                    such other documents as such selling stockholder may
                    reasonably request in order to facilitate the public sale or
                    other disposition of the Registrable Shares owned by such
                    selling stockholder;

               (iv) as expeditiously as possible use its reasonable best efforts
                    to register or qualify the Registrable Shares covered by the
                    Registration Statement under the securities or Blue Sky laws
                    of such states as the Holder shall reasonably request, and
                    do any and all other acts and things that may be necessary
                    or desirable to enable the Holder to consummate the public
                    sale or other disposition in such states of the Registrable
                    Shares owned by the Holder; provided, however, that the
                                                --------  -------
                    Company shall not be required in connection with this
                    paragraph (iv) to qualify as a foreign corporation or
                    execute a general consent to service of process in any
                    jurisdiction;

               (v)  as expeditiously as possible, cause all such Registrable
                    Shares to be listed on each securities exchange or automated
                    quotation system on which similar securities issued by the
                    Company are then listed;

               (vi) promptly provide a transfer agent and registrar for all such
                    Registrable Shares not later than the effective date of such
                    Registration Statement;

              (vii) as expeditiously as possible, notify Holder, promptly after
                    it shall receive notice thereof, of the time when such
                    Registration Statement has become effective or a supplement
                    to any Prospectus forming a part of such Registration
                    Statement has been filed; and

             (viii) as expeditiously as possible following the effectiveness
                    of such Registration Statement, notify each seller of such
                    Registrable Shares of any request by the SEC for the
                    amending or supplementing of such Registration Statement or
                    Prospectus.

          (b)  If the Company has delivered a Prospectus to the Holder and after
               having done so the Prospectus is amended to comply with the
               requirements of the Securities Act, the Company shall promptly
               notify the Holder and, if requested, the Holder shall immediately
               cease making offers of Registrable Shares and return all
               Prospectuses to the Company. The

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               Company shall as promptly as possible provide the Holder with
               revised Prospectuses and, following receipt of the revised
               Prospectuses, the Holder shall be free to resume making offers of
               the Registrable Shares.

          (c)  In the event that, in the judgment of the Company, it is
               advisable to suspend use of a Prospectus included in a
               Registration Statement due to pending material developments or
               other events that have not yet been publicly disclosed and as to
               which the Company believes public disclosure would be detrimental
               to the Company, the Company shall notify Holder to such effect,
               and, upon receipt of such notice, each such Selling Stockholder
               shall immediately discontinue any sales of Registrable Shares
               pursuant to such Registration Statement until such Holder has
               received copies of a supplemented or amended Prospectus or until
               such Holder is advised in writing by the Company that the then
               current Prospectus may be used and has received copies of any
               additional or supplemental filings that are incorporated or
               deemed incorporated by reference in such Prospectus. Following
               public disclosure (or other resolution eliminating the need for
               such public disclosure) of the development or event that caused
               suspension of the use of a Prospectus, the Company shall use its
               reasonable best efforts to update or supplement any Prospectus as
               soon as practicable so as to enable Selling Stockholders to
               resume use thereof.

          2.4     Allocation of Expenses.  The Company will pay all Registration
                  ----------------------
Expenses for all registrations under this Agreement.  For purposes of this
Section, the term "Registration Expenses" shall mean all expenses incurred by
the Company in complying with this Agreement, including, without limitation, all
registration and filing fees, exchange listing fees, printing expenses, fees and
expenses of counsel for the Company, fees and expenses of counsel for the
Selling Stockholders not to exceed $25,000 for each occurrence of a registration
hereunder, state Blue Sky fees and expenses, and the expense of any special
audits or other accounting fees incident to or required by any such
registration, but excluding underwriting commissions and expenses and any costs
and expenses of any counsel retained by Selling Stockholders in excess of
$25,000 for each occurrence of a registration hereunder.

          2.5     Indemnification and Contribution.
                  --------------------------------

          (a)  In the event of any registration of any of the Registrable Shares
               under the Securities Act pursuant to this Agreement, the Company
               will indemnify and hold harmless each Holder, each underwriter of
               such Registrable Shares, and each other person, if any, who
               controls such Holder or underwriter within the meaning of the
               Securities Act or the Exchange Act against any losses, claims,
               damages or liabilities, joint or several, to which such Holder,
               underwriter or controlling person may become subject under the
               Securities Act, the Exchange Act, state securities or Blue Sky
               laws or otherwise, insofar as such losses, claims, damages or
               liabilities (or actions in respect thereof) arise out of or are
               based upon any untrue statement or alleged untrue statement of
               any material fact contained in or incorporated by reference in
               any Registration Statement under which such Registrable

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               Shares were registered under the Securities Act, any preliminary
               prospectus or final prospectus contained in the Registration
               Statement, or any amendment or supplement to such Registration
               Statement, or arise out of or are based upon the omission or
               alleged omission to state a material fact required to be stated
               therein or necessary to make the statements therein, in light of
               the circumstances in which they were made, not misleading, or any
               violation by the Company of any rule or regulation promulgated
               under the Securities Act or Exchange Act applicable to Company
               and relating to action or inaction required of Company in
               connection with such registration; and the Company will promptly
               reimburse such Holder, underwriter and each such controlling
               person for any legal or any other expenses reasonably incurred by
               such Holder, underwriter or controlling person in connection with
               investigating or defending any such loss, claim, damage,
               liability or action; provided, however, that the Company will not
                                    --------  -------
               be liable in any such case to the extent that any such loss,
               claim, damage or liability arises out of or is based upon any
               untrue statement or omission made in such Registration Statement,
               preliminary prospectus or prospectus, or any such amendment or
               supplement, in reliance upon and in conformity with written
               information furnished to the Company by or on behalf of such
               Holder, underwriter or controlling person expressly for use in
               the preparation thereof.

          (b)  In the event of any registration of any of the Registrable Shares
               under the Securities Act pursuant to this Agreement, Holder, will
               indemnify and hold harmless the Company, each of its directors
               and officers and each underwriter (if any) and each person, if
               any, who controls the Company or any such underwriter within the
               meaning of the Securities Act or the Exchange Act, against any
               losses, claims, damages or liabilities, joint or several, to
               which the Company, such directors and officers, underwriter or
               controlling person may become subject under the Securities Act,
               Exchange Act, state securities or Blue Sky laws or otherwise,
               insofar as such losses, claims, damages or liabilities (or
               actions in respect thereof) arise out of or are based upon any
               untrue statement or alleged untrue statement of a material fact
               contained in or incorporated by reference in any Registration
               Statement under which such Registrable Shares were registered
               under the Securities Act, any preliminary prospectus or final
               prospectus contained in the Registration Statement, or any
               amendment or supplement to the Registration Statement, or arise
               out of or are based upon any omission or alleged omission to
               state a material fact required to be stated therein or necessary
               to make the statements therein, in light of the circumstances in
               which they were made, not misleading, or any violation by the
               Selling Stockholder of any rule or regulation promulgated under
               the Securities Act or Exchange Act applicable to Selling
               Stockholder and relating to action or inaction required of
               Selling Stockholder in connection with such registration, in each
               case to the extent (and only to the extent) the statement or
               omission was made in reliance upon and in conformity

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               with written information relating to such Selling Stockholder
               furnished to the Company by or on behalf of such Selling
               Stockholder for the express purpose of its use in connection with
               the preparation of such Registration Statement, prospectus,
               amendment or supplement; provided, however, that the obligations
                                        --------  -------
               of Holder hereunder shall be limited to an amount equal to the
               net proceeds actually received by such Holder of Registrable
               Shares sold in connection with such registration.

          (c)  Each party entitled to indemnification under this Section 2.5
               (the "Indemnified Party") shall give notice to the party required
               to provide indemnification (the "Indemnifying Party") promptly
               after such Indemnified Party has actual knowledge of any claim as
               to which indemnity may be sought, and shall permit the
               Indemnifying Party to assume the defense of any such claim or any
               litigation resulting therefrom; provided, that counsel for the
                                               --------
               Indemnifying Party, who shall conduct the defense of such claim
               or litigation, shall be approved by the Indemnified Party (whose
               approval shall not be unreasonably withheld); and, provided,
                                                                  --------
               further, that the failure of any Indemnified Party to give notice
               -------
               as provided herein shall not relieve the Indemnifying Party of
               its obligations under this Section except to the extent that the
               Indemnifying Party is materially adversely prejudiced by such
               failure. The Indemnified Party may participate in such defense at
               such party's expense; provided, however, that the Indemnifying
                                     --------  -------
               Party shall pay such expense if representation of such
               Indemnified Party by the counsel retained by the Indemnifying
               Party would be inappropriate due to actual or potential differing
               interests between the Indemnified Party and any other party
               represented by such counsel in such proceeding; provided further
                                                               -------- -------
               that in no event shall the Indemnifying Party be required to pay
               the expenses of more than one law firm per jurisdiction as
               counsel for the Indemnified Party. The Indemnifying Party also
               shall be responsible for the expenses of such defense if the
               Indemnifying Party does not elect to assume such defense. No
               Indemnifying Party, in the defense of any such claim or
               litigation shall, except with the consent of each Indemnified
               Party, consent to entry of any judgment or enter into any
               settlement which does not include as an unconditional term
               thereof the giving by the claimant or plaintiff to such
               Indemnified Party of a release from all liability in respect of
               such claim or litigation, and no Indemnified Party shall consent
               to entry of any judgment or settle such claim or litigation
               without the prior written consent of the Indemnifying Party,
               which consent shall not be unreasonably withheld.

          (d)  In order to provide for just and equitable contribution in
               circumstances in which the indemnification provided for in this
               Section 2.5 is due in accordance with its terms but for any
               reason is held to be unavailable to an Indemnified Party in
               respect to any losses, claims, damages and liabilities referred
               to herein, then the Indemnifying Party shall, in lieu of
               indemnifying such Indemnified Party, contribute to the amount
               paid or payable by such Indemnified Party as a result of such
               losses, claims,

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               damages or liabilities to which such party may be subject in such
               proportion as is appropriate to reflect the relative fault of the
               Company on the one hand and the Holder on the other in connection
               with the statements or omissions which resulted in such losses,
               claims, damages or liabilities, as well as any other relevant
               equitable considerations. The relative fault of the Company and
               the Holder shall be determined by reference to, among other
               things, whether the untrue or alleged untrue statement of
               material fact related to information supplied by the Company or
               the Holder and the parties' relative intent, knowledge, access to
               information and opportunity to correct or prevent such statement
               or omission. The Company and the Holder agree that it would not
               be just and equitable if contribution pursuant to this Section
               2.5 were determined by pro rata allocation or by any other method
               of allocation which does not take account of the equitable
               considerations referred to above. Notwithstanding the provisions
               of this paragraph of Section 2.5, (a) in no case shall Holder be
               liable or responsible for any amount in excess of the net
               proceeds received by such Holder from the offering of Registrable
               Shares and (b) the Company shall be liable and responsible for
               any amount in excess of such proceeds; provided, however, that 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. Any party entitled to contribution
               will, promptly after receipt of notice of commencement of any
               action, suit or proceeding against such party in respect of which
               a claim for contribution may be made against another party or
               parties under this Section, notify such party or parties from
               whom contribution may be sought, but the omission so to notify
               such party or parties from whom contribution may be sought shall
               not relieve such party from any other obligation it or they may
               have thereunder or otherwise under this Section. No party shall
               be liable for contribution with respect to any action, suit,
               proceeding or claim settled without its prior written consent,
               which consent shall not be unreasonably withheld.

          2.6     Other Matters with Respect to Underwritten Offerings.  In the
                  ----------------------------------------------------
event that Registrable Shares are sold pursuant to a Registration Statement in
an underwritten offering pursuant to Section 2.1, the Company agrees to (a)
enter into an underwriting agreement containing customary representations and
warranties with respect to the business and operations of the Company and
customary covenants and agreements to be performed by the Company, including
without limitation customary provisions with respect to indemnification by the
Company of the underwriters of such offering; (b) use its reasonable best
efforts to cause its legal counsel to render customary opinions to the
underwriters with respect to the Registration Statement; and (c) use its
reasonable best efforts to cause its independent public accounting firm to issue
customary "cold comfort letters" to the underwriters with respect to the
Registration Statement.

          2.7     Information by Holder.  Each holder of Registrable Shares
                  ---------------------
included in any registration shall furnish to the Company such information
regarding such holder and the

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distribution proposed by such holder as the Company may reasonably request and
as shall be required in connection with any registration, qualification or
compliance referred to in this Agreement.

          2.8     "Stand-Off" Agreement; Confidentiality of Notices.  Each
                  -------------------------------------------------
Selling Stockholder, if requested by the Company and the managing underwriter of
an underwritten public offering by the Company of Common Stock, shall not sell
or otherwise transfer or dispose of any Registrable Shares or other securities
of the Company held by such Stockholder for a period of 90 days following the
effective date of a Registration Statement; provided that all stockholders of
the Company then holding at least 5% of the outstanding Common Stock and all
officers and directors of the Company enter into similar agreements.  Any
Stockholder receiving any written notice from the Company regarding the
Company's plans to file a Registration Statement shall treat such notice
confidentially and shall not disclose such information to any person other than
as necessary to exercise its rights under this Agreement.

          2.9     Reports under the Exchange Act; Rule 144 Reporting.  The
                  --------------------------------------------------
Company agrees to:

     (a)  Make and keep public information available, as those terms are
          understood and defined in SEC Rule 144 or any similar or analogous
          rule promulgated under the Securities Act, at all times after the date
          hereof; and

     (b)  Use its reasonable best efforts to file with the SEC, in a timely
          manner, all reports and other documents required by the Company under
          the Securities Act and the Exchange Act.

          2.10     [Intentionally Blank].
                   ---------------------

          2.11     Assignment of Registration Rights.     The rights to cause
                   ---------------------------------
the Company to register Registrable Securities pursuant to this Agreement may
not be assigned by Holder.

     3.     General.
            -------

     (a)  Severability.  The invalidity or unenforceability of any provision
          ------------
          of this Agreement shall not affect the validity or enforceability of
          any other provision of this Agreement.

     (b)  Specific Performance.  In addition to any and all other remedies
          --------------------
          that may be available at law in the event of any breach of this
          Agreement, Holder shall be entitled to specific performance of the
          agreements and obligations of the Company hereunder and to such other
          injunctive or other equitable relief as may be granted by a court of
          competent jurisdiction.

     (c)  Governing Law.  This Agreement shall be governed by and construed
          -------------
          in accordance with the internal laws of the State of New Jersey
          (without reference to the conflicts of law provisions thereof).

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<PAGE>
     (d)  Notices.  All notices, requests, consents, and other communications
          -------
          under this Agreement shall be in writing and shall be deemed delivered
          (i) two business days after being sent by registered or certified
          mail, return receipt requested, postage prepaid or (ii) one business
          day after being sent via a reputable nationwide overnight courier
          service guaranteeing next business day delivery, in each case to the
          intended recipient as set forth below:

          If to the Company, at Measurement Specialties, Inc., 80 Little Falls
          Road, Fairfield, New Jersey 07004, Attention: John Hopkins; with a
          copy to, McCarter & English, LLP, Four Gateway Center, 100 Mulberry
          Street, Newark, New Jersey 07012, Attention: Kenneth Thompson, Esq.;
          or

          If to the Holder, at 13355 Noel Road, #1825, Dallas, Texas 75240,
          Attention: Frank Guidone.

          Any party may give any notice, request, consent or other communication
          under this Agreement using any other means (including, without
          limitation, personal delivery, messenger service, telecopy, first
          class mail or electronic mail), but no such notice, request, consent
          or other communication shall be deemed to have been duly given unless
          and until it is actually received by the party for whom it is
          intended. Any party may change the address to which notices, requests,
          consents or other communications hereunder are to be delivered by
          giving the other parties notice in the manner set forth in this
          Section.

     (e)  Complete Agreement.  This Agreement constitutes the entire
          ------------------
          agreement and understanding of the parties hereto with respect to the
          subject matter hereof and supersedes all prior agreements and
          understandings relating to such subject matter.

     (f)  Amendments and Waivers.  Any term of this Agreement may be amended
          ----------------------
          or terminated and the observance of any term of this Agreement may be
          waived with respect to all parties to this Agreement (either generally
          or in a particular instance and either retroactively or
          prospectively), with the written consent of the party granting such
          waiver No waivers of or exceptions to any term, condition or provision
          of this Agreement, in any one or more instances, shall be deemed to
          be, or construed as, a further or continuing waiver of any such term,
          condition or provision.

     (g)  Pronouns.  Whenever the context may require, any pronouns used in
          --------
          this Agreement shall include the corresponding masculine, feminine or
          neuter forms, and the singular form of nouns and pronouns shall
          include the plural, and vice versa.

     (h)  Counterparts; Facsimile Signatures.  This Agreement may be executed
          ----------------------------------
          in any number of counterparts, each of which shall be deemed to be an
          original, and all of which together shall constitute one and the same
          document. This Agreement may be executed by facsimile signatures.

                                       12
<PAGE>
     (i)  Section Headings.  The section headings are for the convenience of
          ----------------
          the parties and in no way alter, modify, amend, limit or restrict the
          contractual obligations of the parties.

                                       13
<PAGE>
IN WITNESS WHEREOF, the undersigned have executed this Registration Rights
Agreement as of the date first written above.

                                    COMPANY:

                                    MEASUREMENT SPECIALTIES, INC.

                                    By:  /s/ John P. Hopkins
                                         -------------------
                                    Name: John P. Hopkins
                                          ---------------
                                    Title: Chief Financial Officer and Secretary
                                           -------------------------------------

                                    FOUR CORNERS CAPITAL PARTNERS, LP
                                    By:  Four Corners Capital Partners, LLC
                                    Its:  General Partner

                                         By: /s/ Frank Guidone
                                             -----------------
                                             Frank Guidone, Member

                                       14
<PAGE>Exhibit 10.1

                                    AGREEMENT
                                    ---------

          This  Agreement  ("Agreement"),  made  and entered into as of April 1,
                             ---------
2003,  is by and between Measurement Specialties, Inc., a New Jersey corporation
(the "Company"), and Four Corners Capital Partners LP ("Four Corners"). The
       -------
Company  and  Four  Corners are sometimes individually referred to herein as the
              -------------
"Party" or collectively referred to herein as the "Parties."
 -----                                             -------

                              W I T N E S S E T H:
                              --------------------

          WHEREAS,  Frank  Guidone  ("Executive") is a principal of Four Corners
                                      ---------
and  of  Corporate  Revitalization  Partners,  LLC  ("CRP");  and
                                                      ---

          WHEREAS,  Executive  has been acting as Chief Executive Officer of the
Company since June 2002; and

          WHEREAS,  Executive has performed in such capacity on an interim basis
pursuant to an Agreement with CRP, dated May 13, 2002; and

          WHEREAS,  the  Parties desire that Four Corners be retained to provide
the services of the Executive, to continue to serve in a capacity as Chief
Executive Officer of the Company on an indefinite basis.

          NOW,  THEREFORE, the Parties hereto, in consideration of the foregoing
recitals and the mutual covenants and promises set forth herein, do hereby agree
as  follows:

          1.     DEFINITIONS
                 -----------
          As used herein, the following terms have the following meanings:

          "Agreement" means this Agreement.
           ---------

          "Board" means the Board of Directors of the Company.
           -----

          "Company"  has  the  meaning  given  such term in the Recitals to this
           -------
Agreement.

          "Executive"  has  the  meaning given such term in the Recitals to this
           ---------
Agreement.

          "Subsidiary" or "Subsidiaries" means any entity at least a majority of
           ----------------------------
whose voting securities is at the time owned by the Company or one of the
Company's  Subsidiaries.

          2.     TERM OF ENGAGEMENT
                 ------------------

          The  retention  of  Four  Corners to provide the services of Executive
pursuant to this Agreement shall commence effective as of April 1, 2003 and
continue  until  terminated  in

<PAGE>
accordance with the provisions of this Agreement (the  "Term").

          3.     LEASE OF EXECUTIVE
                 ------------------

                 Four Corners shall provide the Company with the services of the
Executive during the Term.  Executive shall serve as the Chief Executive Officer
of the Company and in connection therewith shall perform the services and duties
attendant to such office as set forth herein or in the Bylaws of the Company,
subject in all respects to the direction and supervision of the Board, provided
that such services and duties are consistent with the normal and customary
responsibilities of a Chief Executive Officer and that Executive retains the
title of Chief Executive Officer.

                 The  Company  agrees  to  comply  with all health and safety
laws, right to know laws, and similar regulations, ordinances, directives, and
rules promulgated by federal, state, and local governments. The Company shall
use its best efforts to minimize workplace hazards (including without limitation
not only physical hazards, but also other matters of regulatory compliance, such
as workplace harassment) and reasonably reduce health and safety related risks
and costs.

          4.     EXCLUSIVE SERVICES AND BEST EFFORTS
                 -----------------------------------

                 The  Parties  agree that Executive will devote substantially
all of his business time, his best efforts, energies and skill to the discharge
of the duties and responsibilities attributable to his position; provided that
nothing herein shall prevent Executive from (i) engaging in investment
activities on behalf of himself or his family or (ii) engaging in religious,
charitable or other community or nonprofit activities. Notwithstanding the
foregoing, the Parties acknowledge and agree that the Executive will continue to
participate in sales and marketing activities on behalf of both CRP and Four
Corners during the Term; provided, however, the amount of time devoted to such
activities shall not exceed (proportionally) the time expended by the Executive
on such activities during 2002 and up to the date both Parties execute this
Agreement.

                 5.     COMPENSATION
                        ------------

                 In consideration of the services to be provided hereunder,
the Company shall pay Four Corners an annual fee of $400,000 ("Annual Fee"),
payable in arrears in equal bi-weekly installments. Increases in such annual fee
may be decided by the Board in its sole discretion after taking account of,
among other things, performance and compensation for similar positions in the
Company's geographic region. The Annual Fee shall be reviewed by the Board for
increase (but not decrease) not less frequently than on an annual basis.

                 Four Corners shall provide the Company with a written
invoice, which invoice may be delivered by first class mail (or other means
acceptable to the Company), specifying in detail the bi-weekly installment of
the Annual Fee to be paid and any business expenses to be reimbursed by the
Company, pursuant to this Agreement. Within two business days after receipt of
such invoice, the Company shall pay Four Corners, at the address shown on the
respective invoice, the total

                                        2
<PAGE>
invoiced amount.

                 6.     BONUS
                        -----

                 In addition to the Annual Fee payable pursuant to Section 5
above, Four Corners shall be eligible to receive an annual bonus based upon a
Bonus Plan. The Bonus Plan, which will include a targeted bonus amount and the
goals which must be achieved before Four Corners will be eligible for a bonus,
shall be jointly determined by the Board and Executive on an annual basis. If
the Board and Executive cannot agree upon a Bonus Plan by August 29, 2003, and
within two months after the start of each fiscal year during the Term beginning
with 2004, Four Corners shall receive 40% of the Annual Fee as a bonus during
the applicable year. In no event will be the targeted bonus amount be less than
40% of the Annual Fee in any year of the Term. The amount of the bonus, if any,
will be determined by the Board on an annual basis based upon the Bonus Plan.

                 7.     WARRANT
                        -------

                 The Company shall issue Four Corners a warrant to purchase
600,000 Shares of Company Common Stock, attached hereto as Exhibit A (the
"Warrant Agreement"), upon execution of this Agreement.
 ----------------

                 8.     BENEFITS; EXPENSES
                        ------------------

                 The Executive shall be entitled to take reasonable vacation
on an annual basis during the Term, in amounts not exceeding four weeks per
year. Executive shall not receive any other benefits, including health care,
life and disability insurance, as are provided in the Company's standard
benefits package for regular employees, except that Executive will be covered by
the Company's Directors and Officers insurance on the same terms as other senior
executives and officers at the Company. The employer shall reimburse Four
Corners, in accordance with the policies and practices of the Company in effect
from time to time with respect to senior employees of the Company, for all
reasonable and necessary traveling expenses and other disbursements incurred by
Executive for or on behalf of the Company or its Subsidiaries in connection with
the performance of his duties hereunder upon presentation by Four Corners to the
Company of appropriate documentation therefor.

                 9.     TERMINATION
                        -----------

                 Either Party may terminate this Agreement at any time by
providing the other Party with at least sixty (60) days' advance written notice
of such termination. The notice shall set forth the specific grounds for the
termination, if the termination is for "Cause" or for "Good Reason" as those
terms are defined in the Warrant Agreement. Upon termination, the Company shall
be responsible for payment, within five (5) business days after the Agreement is
terminated, of a pro-rata portion of the Annual Fee payable in the month the
Agreement is terminated, any earned but unpaid bonus, any accrued but unused
vacation time, and any outstanding business expenses that have been incurred but
have not been reimbursed.

                                        3
<PAGE>
               10.     DEATH
                       -----

               Notwithstanding Section 9 hereof, this Agreement shall
automatically terminate on the date of Executive's death.

               11.     RESTRICTIVE COVENANT
                       --------------------

                      (a)     Four Corners shall not, during the term hereof,
and for a period of one year thereafter, directly or indirectly, work as
consultant, agent, principal, partner, manager, stockholder, officer, director,
or in any other capacity for any person or entity in the United States of
America who or which is directly competitive with the business of the Company
and which engages in the pressure and/or displacement sensor business similar to
the Company. The restriction in the foregoing clause shall not apply to (a)
ownership of less than 5% of the issued and outstanding capital stock of any
corporation that is publicly traded and for which capital stock selling and
asking prices are published from time to time in The Wall Street Journal, or (b)
work Four Corners and/or CRP, or its partners perform in the turnaround
business.

                      (b)     Four Corners shall not, during the term hereof and
for a period of two years thereafter, on its behalf or on behalf of any other
business enterprise, directly or indirectly, under any circumstance (i) solicit
for employment any person who is employed by the Company or any Subsidiaries
during the period of Executive's service to the Company, (ii) induce any person
who is employed by the Company to terminate his or her employment with the
Company or any Subsidiaries, or (iii) call on, solicit, or take away any person
or entity who or which is a customer of the Company or any Subsidiaries, unless
for purposes of conducting turnaround business.

                      (c)     It is expressly agreed by Four Corners that the
nature and scope of each of the provisions set forth above in this Section 11 is
reasonable and necessary.  If, for any reason, any aspect of the above
provisions as it applies to Four Corners is determined by a court of competent
jurisdiction to be unreasonable or unenforceable, the provisions shall only be
modified to the minimum extent required to make the provisions reasonable and/or
enforceable, as the case may be.

                      (d)     This Section 11 and Sections 12 and 13 hereof (and
Sections 14 through 22 hereof as they may apply to such Sections) shall survive
the expiration or termination of this Agreement for any reason.

               12.     CONFIDENTIALITY
                       ---------------

                       Four Corners acknowledges that during the Term of this
Agreement, it may have access to and be entrusted with confidential information
concerning the present and contemplated financial status and activities of the
Company, the disclosure of any of which confidential information to competitors
of the Company would be highly detrimental to the interests of the Company.  The
Parties further acknowledge and agree that the right to maintain the
confidentiality of such information constitutes a proprietary right that the
Company is entitled to protect.  Accordingly, Four Corners covenants and agrees
with the Company that it will not, both

                                        4
<PAGE>
during the Term and thereafter, disclose any of such confidential information to
any person, firm or corporation, nor shall it make use of such information,
except as required in the normal course of service hereunder or as required by
law or judicial process. For purposes of this Section 12, "confidential
information" shall not include any information which is generally available to
the public or which hereafter becomes generally available to the public other
than as a result of breach of the obligation under this Section 12.

               13.     COMPANY PROPERTY
                       ----------------

                      (a)     Any patents, inventions, discoveries, applications
or processes designed, devised, planned, applied, created, discovered or
invented by Executive in the course of Executive's service under this Agreement
and which pertain to any aspect of the Company's or Subsidiaries' business shall
be the sole and absolute property of the Company, and Four Corners shall
promptly report the same to the Company and promptly execute any and all
documents that may from time to time reasonably be requested by the Company to
assure the Company the full and complete ownership thereof.

                      (b)     All records, files, lists, including computer
generated lists, drawings, documents, equipment and similar items relating to
the Company's business which Executive shall prepare or receive from the Company
shall remain the Company's sole and exclusive property.  Upon termination of
this engagement, Four Corners shall promptly return to the Company all property
of the Company in its possession.  Four Corners further represents that it will
not copy or cause to be copied, print out or cause to be printed out any
software, documents or other materials originating with or belonging to the
Company.  Four Corners additionally represents that, upon termination of this
Agreement, Four Corners will not retain in its possession any such software,
documents or other materials.

               14.     EQUITABLE RELIEF
                       ----------------

               Four Corners acknowledges that a breach of any of the terms of
Sections 11, 12 and 13 hereof may result in damages to the Company and it
Subsidiaries for which there shall be no adequate remedy at law.  Accordingly,
in the event of any breach of any of the provisions of Sections 11, 12 and 13
hereof, the Company shall be entitled to equitable relief by way of injunction
or otherwise in addition to any damages which the Company may be entitled to
recover.

               15.     SEVERABILITY
                       ------------

               Each paragraph of this Agreement shall be and remain separate
from and independent of and severable from all and any other paragraphs herein
except where otherwise indicated by the context of the Agreement.  The decision
or declaration that one or more of the paragraphs are null and void shall have
no effect on the remaining paragraphs of this Agreement.

               16.     SUCCESSORS AND ASSIGNS, ASSIGNMENT AND INTENDED
                       -----------------------------------------------
                       BENEFICIARIES
                       -------------

               Neither this Agreement, nor any of Four Corners' or the Company's
respective rights, powers, duties or obligations hereunder, may be assigned or
delegated by Four Corners or the

                                        5
<PAGE>
Company. This Agreement, including Exhibit A to the Agreement, shall be binding
upon and inure to the benefit of Four Corners and its successors and the Company
and its successors. Successors shall include, without limitation, parents or
Subsidiaries, any corporation or corporations acquiring, directly or indirectly,
all or substantially all of the assets or stock of the Company or Four Corners,
whether by merger, consolidation, purchase, lease or otherwise, and such
successor shall thereafter be deemed the "Company" or "Four Corners" for the
                                          -------      ------------
purpose hereof.

               17.     NOTICE
                       ------

               Except as otherwise expressly provided, any notice, request,
demand or other communication permitted or required to be given under this
Agreement shall be in writing, shall be sent by one of the following means to
Four Corners and the Company at the addresses set forth below (or to such other
address as shall be designated hereunder by notice to the other Parties and
persons receiving copies, effective upon actual receipt), and shall be deemed
conclusively to have been given: (a) on the first business day following the day
timely deposited with Federal Express (or other equivalent national overnight
courier) or United States Express Mail, with the cost of delivery prepaid or for
the account of the sender; (b) on the fifth business day following the day duly
sent by certified or registered United States mail, postage prepaid and return
receipt requested; or (c) when otherwise actually received by the addressee on a
business day (or on the next business day if received after the close of normal
business hours or on any non-business day).

               If to the Company:

                       Measurement Specialties, Inc.
                       710 Route 46 East
                       Suite 206
                       Fairfield, NJ 07004
                       Attn:  Chief Financial Officer

                       with a copy to:

                       McCarter & English, LLP
                       Four Gateway Center
                       100 Mulberry Street
                       P.O. Box 652
                       Newark, New Jersey 07101-0652

                       Attn:     Kenneth E. Thompson

                       If to Four Corners:
                       13355 Noel Road #1825
                       Dallas, TX  75240
                       Attn: Frank Guidone

               18.     GOVERNING LAW/VENUE
                        -------------------

                                        6
<PAGE>
               The interpretation, construction and performance of this
Agreement shall be governed by the laws of the State of New Jersey without
giving effect to conflicts of laws principles thereof.  Any disputes or
controversies arising under this Agreement shall be resolved exclusively by the
state or federal courts located in the State of New Jersey and each of the
Parties hereto consents to the exclusive jurisdiction of such courts in
connection with the subject matter hereof.

               19.     INTERPRETATION/HEADINGS
                       -----------------------

               The Parties acknowledge and agree that the terms and provisions
of this Agreement have been negotiated, shall be construed fairly as to each of
the Parties hereto, and shall not be construed in favor of or against any Party.
The section headings contained in this Agreement are for reference purposes only
and shall not affect the meaning or interpretation of this Agreement.

               20.     MISCELLANEOUS
                       -------------

               The provisions of this Agreement shall not be extended, varied,
changed, modified or supplemented other than by agreement in writing signed by
the Parties hereto.  There are no other terms or conditions, representations or
understandings except as herein set forth.  The failure of either Party to
enforce at any time or for any period of time any one or more of the provisions
hereof shall not be construed to be a waiver of such provisions or of the right
of such Party thereafter to enforce each such provision.

               21.     COUNTERPARTS
                       ------------

               This Agreement may be executed in two or more counterparts, each
of which shall be deemed an original, but all of which together shall constitute
a single instrument.

               22.     INDEMNIFICATION
                       ---------------

               The Company shall indemnity the Executive, Four Corners and its
partners, directors, officers, and employees (collectively, the "Indemnified
                                                                 -----------
Parties") from and against any and all claims, liability, loss, cost, damage or
-------
expense (including reasonable attorneys fees) asserted against or incurred by
any Indemnified Parties by reason or arising out of this Agreement or
performance under this Agreement except to the extent such claims, liability,
loss, cost, damage or expense results from the willful misconduct, dishonesty,
fraudulent act or gross negligence of any Indemnified Parties.

               Without limiting the generality of the foregoing, the Company
acknowledges and agrees that the Executive, in his capacity as an officer and
director of the Company shall be indemnified to the fullest extent permitted by
the Certificate of Incorporation and By-Laws of the Company, and by the
applicable provisions of the New Jersey Business Corporation Act.

               23.     ENTIRE AGREEMENT
                       ----------------

This Agreement, along with Exhibit A hereto, contains the entire understanding
between the Parties hereto and supersedes any prior or contemporaneous written
or oral agreements,

                                        7
<PAGE>
representations and warranties between them respecting the subject matter
hereof, including, but not limited to, the Agreement between CRP and the
Company, dated May 13, 2002, and the CRP Work Authorization Agreement, dated May
15, 2002 (collectively the "CRP Agreement), but only to the extent the CRP
Agreements relate to Executive; provided however, that any payment due and owing
under the CRP Agreements related to Executive will remain due and owing.

               IN WITNESS WHEREOF the Parties hereto have caused this Agreement
to be executed as of the date first written above.

                              MEASUREMENT SPECIALTIES, INC.

                              By:   /s/ John P. Hopkins
                                    --------------------------------------------
                                    Name: John P. Hopkins
                                    Title: Chief Financial Officer and Secretary

                              FOUR CORNERS CAPITAL PARTNERS LP

                              By:   /s/ Frank Guidone
                                    --------------------------------------------
                                    Name: Frank Guidone
                                    Title:   Partner

Accepted and Agreed to:
CORPORATE REVITALIZATION PARTNERS, LLC

By:   /s/ Frank Guidone
      --------------------------------
      Name: Frank Guidone
      Title:   Managing Director

                                        8
<PAGE>
                                    Exhibit A
                                    ---------

                                 Form of Warrant

                                        9
<PAGE>

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