Document:

Exhibit 10.38

SECURITIES PURCHASE AGREEMENT

SECURITIES PURCHASE AGREEMENT
(this “Agreement”), dated as of October 10, 2006, by and among Senesco
Technologies, Inc., a Delaware corporation (the “Company”), and those persons
listed on the signature pages attached hereto (individually, a “Purchaser” and
collectively, the “Purchasers”).

W  I  T  N  E
S  S  E  T  H :

WHEREAS, the
Company desires to sell, transfer and assign to the Purchasers, and the
Purchasers desire to purchase from the Company up to 1,986,306 shares (the “Shares”)
of the Company’s restricted common stock, $0.01 par value per share (the “Common
Stock”), and warrants to purchase up to 993,153 shares of Common Stock (the “Warrants”)
for an aggregate purchase price of up to $2,249,491 (the Warrants, together
with the Shares, shall be referred to herein as the “Securities”);

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

SECTION I

PURCHASE AND SALE OF THE SECURITIES

A.                                   Purchase
and Sale.  Subject to the terms and
conditions of this Agreement and on the basis of the representations,
warranties, covenants and agreements herein contained, the Company hereby
agrees to sell, transfer, assign and convey the respective number of Securities
to each Purchaser as set forth on the signature pages attached hereto, and each
Purchaser agrees to purchase, acquire and accept their respective number of
Securities from the Company as set forth on the signature pages attached
hereto.

B.                                     Purchase
Price.  The Securities are hereby
offered at a price of $1.07 per unit, equal to one share of Common Stock and a
Warrant to purchase 0.5 shares of Common Stock. 
The aggregate purchase price for the Securities to be paid by the
Purchasers to the Company is $2,249,491 (the “Aggregate Purchase Price”).  The Aggregate Purchase Price shall be paid by
the Purchasers to the Company on the Closing Date either via certified bank
check or irrevocable wire transfer and shall be paid by the Purchasers in the
amounts set forth on the signature pages attached hereto.  The parties to this Agreement agree that, as
soon as reasonably practicable after the date hereof, they shall allocate, in good
faith, the purchase price between the Shares and Warrants so purchased.

C.                                     Warrants.  The Warrants in the form of Exhibit A
attached hereto shall have a five-year term, with a six month lock-up from the
date of issuance and an exercise price of $1.18 per share.

 

SECTION II

 

REPRESENTATIONS, WARRANTIES, COVENANTS

AND AGREEMENTS OF THE COMPANY

The Company represents
and warrants to, and covenants and agrees with, the Purchasers, as of the date
hereof, that:

A.                                   Organization;
Good Standing.  The Company is a
corporation duly organized, validly existing and in good standing under the
laws of the State of Delaware and has full corporate power and authority to own
its properties and to conduct the business in which it is now engaged.

B.                                     Authority.  The Company has the full corporate power,
authority and legal right to execute and deliver this Agreement and to perform
all of its obligations and covenants hereunder, and no consent or approval of
any other person or governmental authority is required therefore.  The execution and delivery of this Agreement
by the Company, the performance by the Company of its obligations and covenants
hereunder and the consummation by the Company of the transactions contemplated
hereby have been duly authorized by all necessary corporate action.  This Agreement constitutes a valid and
legally binding obligation of the Company, enforceable against the Company in
accordance with its terms, except as the enforceability thereof may be limited
by bankruptcy, insolvency or other similar laws affecting the enforceability of
creditors’ rights in general or by general principles of equity.

C.                                     No
Legal Bar; Conflicts.  Neither the
execution and delivery of this Agreement, nor the consummation of the transactions
contemplated hereby, violates any provision of the Certificate of
Incorporation, as amended, or By-Laws of the Company or any law, statute,
ordinance, regulation, order, judgment or decree of any court or governmental
agency, or conflicts with or results in any breach of any of the terms of or
constitutes a default under or results in the termination of or the creation of
any lien pursuant to the terms of any contract or agreement to which the
Company is a party or by which the Company or any of its assets is bound.

D.                                    Non-Assessable
Shares.  The Securities being issued
hereunder have been duly authorized and, the Shares, when issued to the
Purchasers for the consideration herein provided, and the shares of Common
Stock issued upon the proper exercise of the Warrants, will be validly issued,
fully paid and non-assessable.

E.                                      SEC
Documents; Financial Statements. 
During the two years prior to the date hereof, the Company has timely
filed all reports, schedules, forms, statements and other documents required to
be filed by it with the Securities and Exchange Commission (the “SEC”) pursuant
to the reporting requirements of the Securities Exchange Act of 1934 (the “1934
Act”) (all of the foregoing filed prior to the date hereof or prior to the Closing
Date, and all exhibits included therein and financial statements and schedules
thereto and documents incorporated by reference therein being hereinafter
referred to as the “SEC Documents”).  The Company has made available to the
Purchasers or their respective representatives true, correct and complete
copies of the SEC Documents not available on the EDGAR system.  As of their respective dates, the SEC
Documents complied in all material respects with the requirements of the 1934
Act and the rules and regulations of the SEC promulgated thereunder applicable
to the SEC Documents, and none 

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of the SEC
Documents, at the time they were filed with the SEC, contained any untrue
statement of a material fact or omitted to state a material fact required to be
stated therein or necessary in order to make the statements therein, in the
light of the circumstances under which they were made, not misleading.  As of their respective dates, the financial
statements of the Company included in the SEC Documents complied as to form in
all material respects with applicable accounting requirements and the published
rules and regulations of the SEC with respect thereto.  Such financial statements have been prepared
in accordance with generally accepted accounting principles, consistently
applied, during the periods involved (except (i) as may be otherwise indicated
in such financial statements or the notes thereto, or (ii) in the case of
unaudited interim statements, to the extent they may exclude footnotes or may
be condensed or summary statements) and fairly present in all material respects
the financial position of the Company as of the dates thereof and the results
of its operations and cash flows for the periods then ended (subject, in the
case of unaudited statements, to normal year-end audit adjustments).  Upon consummation of the transactions
contemplated by this Agreement, the Company’s independent registered public
accounting firm will not express substantial doubt about the Company’s ability
to continue as a going concern.  No other
information provided by or on behalf of the Company to the Purchasers which is
not included in the SEC Documents, including, without limitation, information
provided to any Purchaser by the Company in anticipation of this transaction,
contains any untrue statement of a material fact or omits to state any material
fact necessary in order to make the statements therein, in the light of the
circumstance under which they are or were made, not misleading.

F.                                      Absence
of Certain Changes.  Except in the ordinary
course of business, since May 15, 2006, there has been no material adverse
change and no material adverse development in the business, properties,
operations, condition (financial or otherwise), results of operations or
prospects of the Company or its subsidiaries. 
Since May 15, 2006, the Company has not (i) declared or paid any
dividends, (ii) sold any assets, individually or in the aggregate, in excess of
$500,000 outside of the ordinary course of business or (iii) had capital
expenditures, individually or in the aggregate, in excess of $500,000.  The Company has not taken any steps to seek
protection pursuant to any bankruptcy law nor does the Company have any
knowledge or reason to believe that its creditors intend to initiate
involuntary bankruptcy proceedings or any actual knowledge of any fact which
would reasonably lead a creditor to do so. 
The Company is not as of the date hereof, and after giving effect to the
transactions contemplated hereby to occur at the Closing, will not be Insolvent
(as defined below).  For purposes of this
Section, “Insolvent” means (i)
the present fair saleable value of the Company’s assets is less than the amount
required to pay the Company’s total indebtedness, (ii) the Company is unable to
pay its debts and liabilities, subordinated, contingent or otherwise, as such
debts and liabilities become absolute and matured, (iii) the Company intends to
incur or believes that it will incur debts that would be beyond its ability to
pay as such debts mature or (iv) the Company has unreasonably small capital
with which to conduct the business in which it is engaged as such business is
now conducted or is about to be conducted.

G.                                     No
Undisclosed Events, Liabilities, Developments or Circumstances.  No event, liability, development or
circumstance has occurred or exists, or is contemplated to occur, with respect
to the Company or its subsidiaries or their respective business, properties,
prospects, operations or financial condition, that would be required to be
disclosed by the Company under applicable securities laws on a registration
statement on Form S-1 filed with the SEC relating to 

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an issuance and
sale by the Company of its Common Stock and which has not been publicly
announced.

H.                                    Foreign
Corrupt Practices.  Neither the Company,
nor any of its subsidiaries, nor any director, officer, agent, employee or
other person acting on behalf of the Company or any of its subsidiaries has, in
the course of its actions for, or on behalf of, the Company (i) used any
corporate funds for any unlawful contribution, gift, entertainment or other
unlawful expenses relating to political activity; (ii) made any direct or
indirect unlawful payment to any foreign or domestic government official or
employee from corporate funds; (iii) violated or is in violation of any
provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended; or
(iv) made any unlawful bribe, rebate, payoff, influence payment, kickback or
other unlawful payment to any foreign or domestic government official or
employee.

I.                                         Sarbanes-Oxley
Act.  The Company is in compliance
with any and all applicable requirements of the Sarbanes-Oxley Act of 2002 that
are effective as of the date hereof, and any and all applicable rules and
regulations promulgated by the SEC thereunder that are effective as of the date
hereof, except where such noncompliance would not have, individually or in the
aggregate, a material adverse effect.

J.                                        Intellectual
Property Rights.  The Company and its
subsidiaries own or possess adequate rights or licenses to use all trademarks,
trade names, service marks, service mark registrations, service names, patents,
patent rights, copyrights, inventions, licenses, approvals, governmental
authorizations, trade secrets and other intellectual property rights (“Intellectual
Property Rights”) necessary to conduct their respective businesses as now
conducted.  None of the Company’s
Intellectual Property Rights have expired or terminated, or are expected to
expire or terminate within three years from the date of this Agreement, except
for rights which are not necessary to conduct its business as now
conducted.  The Company does not have any
knowledge of any infringement by the Company or its subsidiaries of
Intellectual Property Rights of others. 
There is no claim, action or proceeding being made or brought, or to the
knowledge of the Company, being threatened, against the Company or any of its
subsidiaries regarding its Intellectual Property Rights.  The Company is unaware of any facts or
circumstances which might give rise to any of the foregoing infringements or
claims, actions or proceedings.  The
Company and its subsidiaries have taken reasonable security measures to protect
the secrecy, confidentiality and value of all of their Intellectual Property
Rights.

K.                                    Right
of First Refusal on Future Financings. 
From the Closing Date until the one year anniversary of the Closing
Date, upon any private issuance by the Company of its Common Stock or Common
Stock Equivalents (as defined below) (a “Subsequent Financing”), each Purchaser
shall have the right to participate in such Subsequent Financing as provided
herein.  At least 15 Business Days (as
defined below) prior to the closing of the Subsequent Financing, the Company
shall deliver to each Purchaser a written notice of its intention to effect a
Subsequent Financing (“Pre-Notice”), which Pre-Notice shall ask such Purchaser
if it wants to review the details of such financing (such additional notice, a “Subsequent
Financing Notice”).  Upon the request of
a Purchaser, and only upon a request by such Purchaser, for a Subsequent
Financing Notice, the Company shall promptly, but no later than one Business
Day after such request, deliver a Subsequent Financing Notice to such
Purchaser.  The Subsequent Financing
Notice shall describe in reasonable detail the proposed terms of such
Subsequent Financing, the amount of 

 4
 

 

proceeds intended
to be raised thereunder, the Person with whom such Subsequent Financing is
proposed to be effected, and attached to which shall be a term sheet or similar
document relating thereto.  Each
Purchaser shall notify the Company by 6:30 p.m. (New York City time) on the
tenth (10th)
Business Day after their receipt of the Subsequent Financing Notice of its
willingness to provide the Subsequent Financing on the terms described in the
Subsequent Financing Notice, subject to completion of mutually acceptable
documentation.  If one or more Purchasers
shall fail to so notify the Company of their willingness to participate in the
Subsequent Financing, the Purchasers agreeing to participate in the Subsequent
Financing (the “Participating Purchasers”) shall have the right to provide all
of the Subsequent Financing.  If one or
more Purchasers fail to notify the Company of their willingness to provide all
of the Subsequent Financing and the Participating Purchasers do not agree to
provide all of the Subsequent Financing, the Company may effect the remaining
portion of such Subsequent Financing on the terms and to the Persons set forth
in the Subsequent Financing Notice; provided that the Company must provide the
Purchasers with a second Subsequent Financing Notice, and the Purchasers will
again have the right of first refusal set forth above in this section, if the
Subsequent Financing subject to the initial Subsequent Financing Notice is not
consummated for any reason on the terms set forth in such Subsequent Financing
Notice within 60 Business Days after the date of the initial Subsequent
Financing Notice with the Person identified in the Subsequent Financing Notice.  In the event the Company receives responses
to Subsequent Financing Notices from Purchasers seeking to purchase more than
the financing sought by the Company in the Subsequent Financing such Purchasers
shall have the right to purchase their Pro Rata Portion (as defined below) of
the Common Stock or Common Stock Equivalents to be issued in such Subsequent
Financing.  “Pro Rata Portion” is the
ratio of (x) the amount invested by such Purchaser pursuant to this Agreement
(the “Subscription Amount”) and (y) the aggregate sum of all of the
Subscription Amounts.  Notwithstanding
the foregoing, this section shall not apply in respect of the issuance of (a)
shares of Common Stock or Common Stock Equivalents to employees, consultants,
officers or directors of the Company pursuant to any plan duly adopted by a
majority of the non-employee members of the Board of Directors of the Company
or a majority of the members of a committee of non-employee directors
established for such purpose, (b) shares of Common Stock or Common Stock
Equivalents upon the exercise of or conversion of any convertible securities,
options or warrants issued and outstanding on the date of this Agreement,
provided that such securities have not been amended since the date of this
Agreement to increase the number of shares of Common Stock issuable thereunder
or to lower the exercise or conversion price thereof, (c) shares of Common
Stock or Common Stock Equivalents issued as consideration in a merger,
consolidation, share exchange, asset or stock acquisition or other similar
business combination transaction, and (d) shares of Common Stock or Common
Stock Equivalents issued under the terms of any strategic alliance approved by
a majority of the non-employee members of the Board of Directors of the
Company, the primary purpose of which is not the raising of capital.  “Business Day” means a day, other than a
Saturday or Sunday, on which banks in New York City are open for the general
transaction of business.  “Common Stock
Equivalents” means any securities of the Company or its subsidiaries which
would entitle the holder thereof to acquire at any time Common Stock, including
without limitation, any debt, preferred stock, rights, options, warrants or
other instrument that is at any time convertible into or exchangeable for, or
otherwise entitles the holder thereof to receive, Common Stock.

 5
 

 

SECTION III

REPRESENTATIONS, WARRANTIES, COVENANTS

AND AGREEMENTS OF THE PURCHASERS

Each Purchaser,
severally, and not jointly, represents and warrants to, and covenants and agrees
with, the Company, as of the date hereof, that:

A.                                   Organization (if applicable).  The Purchaser is, and as of the Closing will
be, duly organized, validly existing and in good standing under the laws of its
jurisdiction of organization.

B.                                     Authorization. 
The Purchaser has, and as of the Closing will have, all requisite power
and authority to execute, deliver and perform this Agreement and to consummate
the transactions contemplated hereby. 
The execution, delivery and performance of this Agreement, and the
consummation of the transactions contemplated hereby, have been duly and
validly authorized by all necessary action on the part of the Purchaser.  This Agreement has been duly executed and
delivered by the Purchaser and constitutes its legal, valid and binding
obligation, enforceable against the Purchaser in accordance with its terms,
except as the enforceability thereof may be limited by bankruptcy, insolvency
or other similar laws affecting the enforceability of creditors’ rights in
general or by general principles of equity.

C.                                     No
Legal Bar; Conflicts.  Neither the
execution and delivery of this Agreement, nor the consummation by the Purchaser
of the transactions contemplated hereby, violates any law, statute, ordinance,
regulation, order, judgment or decree of any court or governmental agency
applicable to the Purchaser, or violates, or conflicts with, any contract,
commitment, agreement, understanding or arrangement of any kind to which the
Purchaser is a party or by which the Purchaser is bound.

D.                                    No
Litigation.  No action, suit or
proceeding against the Purchaser relating to the consummation of any of the
transactions contemplated by this Agreement nor any governmental action against
the Purchaser seeking to delay or enjoin any such transactions is pending or,
to the Purchaser’s knowledge, threatened.

E.                                      Investment
Intent.  The Purchaser: (i) is an
accredited investor within the meaning of Rule 501(a) under the Securities Act
of 1933, as amended (the “Act”); (ii) is aware of the limits on resale imposed
by virtue of the nature of the transactions contemplated by this Agreement,
specifically the restrictions imposed by Rule 144 of the Act, and is aware that
the certificates representing the Purchaser’s respective ownership of the
Securities will bear related restrictive legends; and (iii) except as otherwise
set forth herein, is acquiring the shares of the Company hereunder without
registration under the Act in reliance on the exemption from registration
contained in Section 4(2) of the Act and/or Rule 506 promulgated pursuant to
Regulation D of the Act, for investment for its own account, and not with a
view toward, or for sale in connection with, any distribution thereof, nor with
any present intention of distributing or selling such shares.  The information contained in the Accredited
Investor Questionnaire in the form of Exhibit B attached hereto and
delivered by the Purchaser in connection with this Agreement is true and
complete in all respects.  The Purchaser
has been given the opportunity to ask questions of, and receive answers from,
the officers of the Company regarding the Company, its current and proposed
business operations and the Securities, and the officers of the Company have
made 

 6
 

 

available to the
Purchaser all documents and information that the Purchaser has requested
relating to an investment in the Company. 
The Purchaser has been given the opportunity to retain competent legal
counsel in connection with the purchase of the Securities and acknowledges that
the Company has relied upon the Purchaser’s representations in this Section 3
in offering and selling the Securities to the Purchaser.

F.                                      The
information contained in the selling stockholder questionnaire in the form of Exhibit
C attached hereto and delivered by the Purchaser in connection with this
Agreement is true and complete in all respects.

G.                                     Economic
Risk; Restricted Securities.  The
Purchaser recognizes that the investment in the Securities involves a number of
significant risks.  The foregoing,
however, does not limit or modify the representations, warranties and
agreements of the Company in Section 2 of this Agreement or the right of the
Purchaser to rely thereon.  The Purchaser
is able to bear the economic risks of an investment in the Securities for an
indefinite period of time, has no need for liquidity in such investment and, at
the present time, can afford a complete loss of such investment.

H.                                    Access
to Information.

(i)  The Purchaser has had access to all reports
required to be filed by the Company (the “SEC Reports”) under the
Securities Exchange Act of 1934, as amended.

(ii)  The Purchaser represents that it has not
received any information about the Company other than what has been disclosed
in the documents set forth above, and has had the opportunity to ask questions
of, and receive answers from, the Company regarding the foregoing documents.

(iii)  H.C. Wainwright is the placement agent and
will receive (i) a fee of three percent (3%) for this transaction and (ii) warrants
to purchase such number of shares of Common Stock equal to seven percent (7%) of the aggregate number of shares
of Common Stock sold in this transaction.

I.                                         Suitability.  The Purchaser has carefully considered, and
has, to the extent the Purchaser deems it necessary, discussed with the
Purchaser’s own professional legal, tax and financial advisers the suitability
of an investment in the Securities for the Purchaser’s particular tax and
financial situation, and the Purchaser has determined that the Securities is a
suitable investment.

J.                                        Legend.  The Purchaser acknowledges that the
certificates evidencing the Securities will bear the following legend:

THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”).  THE SHARES HAVE BEEN ACQUIRED FOR INVESTMENT
AND MAY NOT BE PLEDGED, HYPOTHECATED, SOLD OR TRANSFERRED IN THE ABSENCE OF AN
EFFECTIVE REGISTRATION STATEMENT FOR THE SHARES UNDER SUCH ACT OR AN 

 7
 

 

OPINION OF COUNSEL TO THE ISSUER THAT REGISTRATION IS
NOT REQUIRED UNDER THE ACT.

The Company
acknowledges and agrees that a Purchaser may from time to time pledge pursuant
to a bona fide margin agreement with a registered broker-dealer or grant a
security interest in some or all of the Securities to a financial institution
that is an “accredited investor” as defined in Rule 501(a) under the Act and
who agrees in writing to be bound by the provisions of this Agreement and the
Registration Rights Agreement and, if required under the terms of such
arrangement, such Purchaser may transfer pledged or secured Securities to the
pledgees or secured parties.  Such a
pledge or transfer would not be subject to approval of the Company and no legal
opinion of legal counsel of the pledgee, secured party or pledgor shall be
required in connection therewith, provided that any such transfer would comply
with federal and state securities laws. 
Further, no notice shall be required of such pledge.  At the appropriate Purchaser’s expense, the
Company will execute and deliver such reasonable documentation as a pledgee or
secured party of Securities may reasonably request in connection with a pledge
or transfer of the Securities, including, if the Securities are subject to
registration pursuant to the Registration Rights Agreement, the preparation and
filing of any required prospectus supplement under Rule 424(b)(3) under the Act
or other applicable provision of the Act to appropriately amend the list of
selling stockholders thereunder.

Certificates
evidencing the Securities shall not be required to contain such legend or any
other legend (i) following any sale of such Securities pursuant to Rule 144, (ii)
if such Securities are eligible for sale under Rule 144(k), (iii) have been
sold pursuant to the Registration Statement and in compliance with the obligations
set forth herein, or (iv) such legend is not required under applicable
requirements of the Act (including judicial interpretations and pronouncements
issued by the staff of the SEC), in each such case (i) through (iv) to the
extent reasonably determined by the Company’s legal counsel.  At such time and to the extent a legend is no
longer required for the Securities, the Company will use its best efforts to no
later than three (3) trading days following the delivery by a Purchaser to the
Company or the Company’s transfer agent of a legended certificate representing
such Securities (together with such accompanying documentation or
representations as reasonably required by counsel to the Company) (such third
trading day, the “Legend Removal Date”), deliver or cause to be delivered a
certificate representing such Securities that is free from the foregoing
legend.

In addition to a
Purchaser’s other available remedies, the Company shall pay to a Purchaser, in
cash, as partial liquidated damages and not as a penalty, for each $1,000 of
Securities (based on the VWAP of the Common Stock on the date such Securities
are submitted to the Company’s transfer agent) delivered for removal of the
restrictive legend and subject to this section, $10 per trading day (increasing
to $20 per trading day five (5) trading days after such damages have begun to
accrue) for each trading day after the second trading day following the Legend
Removal Date until such certificate is delivered without a legend.  Nothing herein shall limit such Purchaser’s
right to pursue actual damages for the Company’s failure to deliver
certificates representing any Securities as required, and such Purchaser shall
have the right to pursue all remedies available to it at law or in equity
including, without limitation, a decree of specific performance and/or 

 8
 

 

injunctive relief.  Notwithstanding anything herein to the
contrary, in no event will the Company be obligated to make payments to any
Purchaser under this section in excess of 5% of the aggregate amount invested
by such Purchaser.

Each Purchaser,
severally and not jointly with the other Purchasers, agrees that the removal of
the restrictive legend from certificates representing Securities as set forth
in this Section is predicated upon the Company’s reliance that the Purchaser
will sell any Securities pursuant to either the registration requirements or
the Act, including any applicable prospectus delivery requirements, or an
exemption therefrom, and that if Securities are sold pursuant to a Registration
Statement, they will be sold in compliance with the plan of distribution set
forth therein.

SECTION IV

THE CLOSING AND CONDITIONS TO CLOSING

A.                                   Time
and Place of the Closing.  The
closing shall be held at the offices of Morgan, Lewis & Bockius, 502
Carnegie Center, Princeton, New Jersey 08540, on October 10, 2006 (the “Closing
Date”), or such other time and place as the Company and the Purchasers may
mutually agree.

B.                                     Delivery
by the Company.  Delivery of the
Securities shall be made by the Company, or by its transfer agent, as
applicable, to the Purchasers as soon as reasonably practicable after the
Closing Date by delivering certificates representing their respective portion
of Securities as set forth on the signature pages attached hereto, each such
certificate to be accompanied by any requisite documentary or transfer tax
stamps.

C.                                     Delivery
by the Purchasers.  On or before the
Closing Date, each Purchaser shall deliver to the Company its respective
portion of the Aggregate Purchase Price, based on the number of Securities
purchased by such Purchaser as set forth on the signature pages attached
hereto, by certified bank check or by irrevocable wire transfer to the Company.

D.                                    Registration
Rights Agreement.  The Company shall
deliver to each Purchaser, and each Purchaser shall deliver to the Company, an
executed copy of that certain Registration Rights Agreement made by and among
the Company and the Purchasers of even date herewith.

E.                                      Other
Conditions to Closing.  As of the
Closing Date, all requisite action by the Company’s Board of Directors shall
have been taken pursuant to the By-Laws of the Company.

F.                                      Opinion.  The Company shall have its counsel render a
legal opinion in customary form as of the Closing Date or as soon as reasonably
possible after the Closing Date.

SECTION V

MISCELLANEOUS

A.                                   Entire
Agreement.  This Agreement contains
the entire agreement between the parties hereto with respect to the
transactions contemplated hereby, and no modification hereof 

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shall be effective
unless in writing and signed by the party against which it is sought to be
enforced.

B.                                     Invalidity,
Etc.  If any provision of this
Agreement, or the application of any such provision to any person or
circumstance, shall be held invalid by a court of competent jurisdiction, the
remainder of this Agreement, or the application of such provision to persons or
circumstances other than those as to which it is held invalid, shall not be
affected thereby.

C.                                     Headings.  The headings of this Agreement are for
convenience of reference only and are not part of the substance of this
Agreement.

D.                                    Binding
Effect.  This Agreement shall be
binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns.

E.                                      Governing
Law.  This Agreement shall be
governed by and construed in accordance with the laws of the State of Delaware applicable in the case of agreements made and to be
performed entirely within such State, without regard to principles of conflicts
of law, and the parties hereto hereby submit to the exclusive jurisdiction of
the state and federal courts located in the State of New Jersey.

F.                                      Counterparts.  This Agreement may be executed in one or more
identical counterparts, each of which shall be deemed an original but all of
which together will constitute one and the same instrument.

* * * * * *

 10

IN WITNESS WHEREOF,
this Agreement has been duly executed by the parties hereto as of the date
first above written.

	
   

  	
  COMPANY:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  SENESCO TECHNOLOGIES, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name: 

  	
  Bruce C. Galton

  
	
   

  	
   

  	
  Title:

  	
  President and Chief Executive Officer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  PURCHASERS:

  
	
   

  	
   

  	
   

  
	
   

  	
  [If an entity]

  
	
   

  	
   

  	
   

  
	
   

  	
  Entity Name:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
  Address:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Telecopy:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  [If an individual]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Address:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Telecopy:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  (a) 

  	
  Investment Amount:
  $                                                         

  
	
   

  	
  (b) 

  	
  Number of shares of Common Stock

  
	
   

  	
   

  	
  (line (a) divided by $[
  ]):                  shares

  
	
   

  	
  (c) 

  	
  Warrants to purchase shares of Common Stock (line (b)
  

  multiplied by
  0.5):              warrant
  shares

  
													

 

 

Exhibit B

Form of
Warrant

 

Exhibit B

Senesco Technologies, Inc.

Confidential
Purchaser Questionnaire

Before any sale of securities in the above-captioned
Company can be made to you, this Questionnaire must be completed and returned
to [  ].

The purpose of this Questionnaire is to substantiate
that you meet the standards imposed by Section 4(2) of the Securities Act of
1933, as amended (the “Securities Act”).

(1)                                  Name:
                                                                                       

(2)                                  Principal
Business Address:

                                                                                                  

Telephone:  (     )                                                                      

(3)                                  Home
Address (for individual investors):                                

                                                                                                  

Telephone:  (     )                                                                      

(4)                                  Social
Security Number or Tax ID Number:                           

(5)                                  Occupation
(for individual investors):                                     

(6)                                  Age
(for individual investors):                                                 

(7)                                  The
following information is required to substantiate that you qualify as an “accredited
investor” as defined in Rule 501 of Regulation D under the Securities Act.
Please check which of the following you are:

(a)                                  A
bank as defined in Section 3(a)(2) of the Securities Act, or any savings and
loan association or other institution as defined in Section 3(a)(5)(A) of the
Securities Act whether acting in its individual or fiduciary capacity; any
broker or dealer registered pursuant to Section 15 of the Securities Exchange
Act of 1934, as amended; any insurance company as defined in Section 2(13) of
the Securities Act; any investment company registered under the Investment
Company Act of 1940 or a business development company as defined in Section 2(a)(48)
of that act; any Small Business Investment Company licensed by the U.S. Small
Business Administration under Section 301(c) or (d) of the Small Business
Investment Act of 1958; any plan established and maintained by a state, its
political subdivisions, or any agency or instrumentality of a state or its
political subdivisions, for the benefits of its employees if such plan has
total assets in excess of $5,000,000; any employee benefit plan within the
meaning of Title I of 

 

the Employee
Retirement Income Security Act of 1974 if the investment decision is made by a
plan fiduciary, as defined in Section 3(21) of such act, which is either a
bank, savings and loan association, insurance company, or registered investment
adviser, or if the employee benefit plan has total assets in excess of
$5,000,000, or, if a self-directed plan, with investment decisions made solely
by persons that are accredited investors;

Yes o         No o

(b)                                 A
private business development company as defined in Section 202(a)(22) of the
Investment Advisers Act of 1940;

Yes o         No o

(c)                                  An
organization described in Section 501(c)(3) of the Internal Revenue Code,
corporation, Massachusetts or similar business trust or partnership, not formed
for the specific purpose of acquiring the securities offered, with total assets
in excess of $5,000,000;

Yes o         No o

(d)                                 A
director or executive officer of the Company;

Yes o         No o

(e)                                  A
natural person whose individual net worth, or joint net worth with your spouse,
at the time of your purchase exceeds $1,000,000;

Yes o         No o

(f)                                    A
natural person who had an individual income in excess of $200,000 in each of
the two most recent years or joint income with your spouse in excess of
$300,000 in each of those years and has a reasonable expectation of reaching
the same income level in the current year;

Yes o         No o

(g)                                 A
trust, with total assets in excess of $5,000,000 not formed for the specific
purpose of acquiring the securities offered, whose purchase is directed by a
sophisticated person as described in Rule 506(b)(2)(ii); or

Yes o         No o

(h)                                 Any
entity in which all of the equity owners are accredited investors.

Yes o         No o

 

(8)                                  Investment,
business, and educational experience (for individual investors):

(a)                                  Educational
background:

 

(b)                                 Principal
employment positions held during last five years:

 

(c)                                  Frequency
of prior investment (check one in each column):

	
  

  	
   

  	
   

  	
   

  	
  Venture Capital

  	
   

  
	
   

  	
   

  	
  Stocks & Bonds

  	
   

  	
  Investments

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Frequently

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Occasionally

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Never

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

(9)                                  Please
list the name and address of your (for individual investors):

(a)                                              Bank

 

(b)                                             Accountant

 

I represent that the
foregoing information is true and correct.

Dated:                       ,
2006

	
  

  	
   

  
	
   

  	
  (Name of Investor - Please Print)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  (Signature)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  (Print Name)

  	
  (Title)

  

 

Exhibit C

Selling
Stockholder Questionnaire

To:                              Senesco
Technologies, Inc.

c/o Emilio Ragosa, Esq.

Morgan Lewis & Bockius LLP

502 Carnegie Center

Princeton, New Jersey 08540-6241

Reference is made
to the Securities Purchase Agreement (the “Agreement”), made between Senesco
Technologies, Inc., a Delaware corporation (the “Company”), and the Purchasers
noted therein.

Pursuant to
Section III.F of the Agreement, the undersigned hereby furnishes to the Company
the following information for use by the Company in connection with the
preparation of the Registration Statement contemplated by that certain
Registration Rights Agreement.

(1)                                 Name
and Contact Information:

	
  Full legal name of record holder:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Address of record holder:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Social Security Number or Taxpayer identification
  number of record holder:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Identity of beneficial owner (if different than
  record holder):

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Name of contact person:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Telephone number of contact person:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Fax number of contact person:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  E-mail address of contact person:

  	
   

  	
   

  

(2)                                 Beneficial
Ownership of Registrable Securities:

(a)                                  Number
of Registrable Securities owned by Selling Stockholder:

 

 

(b)                                 Number
of Registrable Securities requested to be registered:

 

(3)                                 Beneficial
Ownership of Other Securities of the Company Owned by the Selling Stockholder:

Except as set forth below
in this Item (3), the undersigned is not the beneficial or registered owner of
any securities of the Company other than the Registrable Securities listed
above in Item (2)(a).

 

Type and amount of other
securities beneficially owned by the Selling Stockholder:

 

 

(4)                                 Relationships
with the Company:

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

 

State any exceptions
here:

 

 

(5)                                 Plan
of Distribution:

Except as set forth
below, the undersigned intends to distribute pursuant to the Registration
Statement the Registrable Securities listed above in Item (2) in accordance
with the “Plan of Distribution” section set forth therein:

 

State any exceptions
here:

 

 

(6)                                 Selling
Stockholder Affiliations:

(a)                                  Is
the Selling Stockholder a registered broker-dealer?

 

 

 

(b)                                 Is
the Selling Stockholder an affiliate of a registered broker-dealer(s)?  (For purposes of this response, an
“affiliate” of, or person “affiliated” with, a specified person, is a person
that directly, or indirectly through one or more intermediaries, controls or is
controlled by, or is under common control with, the person specified.)

 

 

(c)                                  If
the answer to Item (6)(b) is yes, identify the registered broker-dealer(s) and
describe the nature of the affiliation(s):

 

 

(d)                                 If
the answer to Item (6)(b) is yes, did the Selling Stockholder acquire the Registrable
Securities in the ordinary course of business (if not, please explain)?

 

 

(e)                                  If
the answer to Item (6)(b) is yes, did the Selling Stockholder, at the time of
purchase of the Registrable Securities, have any agreements, plans or
understandings, directly or indirectly, with any person to distribute the
Registrable Securities (if yes, please explain)?

 

 

(7)                                 Voting
or Investment Control over the Registrable Securities:

If the Selling
Stockholder is not a natural person, please identify the natural person or
persons who have voting or investment control over the Registrable Securities
listed in Item (2) above:

 

 

By signing below,
the undersigned consents to the disclosure of the information contained herein
in its answers to Items (1) through (7) above and the inclusion of such
information in a Registration Statement, any amendments thereto and the related
prospectus.  The undersigned understands
that such information will be relied upon by the Company in connection with the
preparation or amendment of a Registration Statement and the related
prospectus.

The undersigned
has reviewed the answers to the above questions and affirms that the same are
true, complete and accurate.  THE
UNDERSIGNED AGREES TO NOTIFY THE COMPANY IMMEDIATELY OF ANY CHANGES IN THE FOREGOING
INFORMATION.

	
  Dated:                               ,
  2006

  	
   

  
	
   

  	
  Signature of Record Holder

  
	
   

  	
  (Please sign your name in exactly the same

  
	
   

  	
   manner as the
  certificate(s) for the shares being registered)

  

 

	
  Purchaser

  	
   

  	
   

  	
   

  	
  Amount

  	
   

  	
  # of Shares

  	
   

  	
  # of Warrants

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Christopher Forbes

  	
   

  	
  $

  	
  1,000,000

  	
   

  	
  883,002

  	
   

  	
  441,501

  	
   

  
	
  Thomas C. Quick
  Charitable Foundation

  	
   

  	
  300,000

  	
   

  	
  264,901

  	
   

  	
  132,450

  	
   

  
	
  Ruedi Stalder

  	
   

  	
  105,841

  	
   

  	
  93,458

  	
   

  	
  46,729

  	
   

  
	
  Bruce C. Galton

  	
   

  	
  75,000

  	
   

  	
  66,225

  	
   

  	
  33,113

  	
   

  
	
  John N. Braca

  	
   

  	
  11,325

  	
   

  	
  10,000

  	
   

  	
  5,000

  	
   

  
	
  David Rector

  	
   

  	
  11,325

  	
   

  	
  10,000

  	
   

  	
  5,000

  	
   

  
	
  Dhananjaya Dvivedi

  	
   

  	
  250,000

  	
   

  	
  220,751

  	
   

  	
  110,375

  	
   

  
	
  Otago Partners, LLC

  	
   

  	
  166,000

  	
   

  	
  146,578

  	
   

  	
  73,289

  	
   

  
	
  Iroquois Master Fund
  Ltd.

  	
   

  	
  150,000

  	
   

  	
  132,450

  	
   

  	
  66,225

  	
   

  
	
  Timothy Forbes

  	
   

  	
  100,000

  	
   

  	
  88,300

  	
   

  	
  44,150

  	
   

  
	
  Michael Berry

  	
   

  	
  50,000

  	
   

  	
  44,150

  	
   

  	
  22,075

  	
   

  
	
  James E. Currie

  	
   

  	
  30,000

  	
   

  	
  26,490

  	
   

  	
  13,245

  	
   

  
	
   

  	
   

  	
  $

  	
  2,249,491

  	
   

  	
  1,986,306

  	
   

  	
  993,153Exhibit 10.39

REGISTRATION RIGHTS AGREEMENT

This
Registration Rights Agreement (the “Agreement”) is made and entered into as of
this 10th day of October, 2006 by and among Senesco Technologies, Inc., a
Delaware corporation (the “Company”), and the “Purchasers” named in that
certain Securities Purchase Agreement by and among the Company and the
Purchasers, dated as of even date herewith (the “Purchase Agreement”).

The
parties hereby agree as follows:

1.             Certain
Definitions.

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

“Affiliate”
means, with respect to any person, any other person which directly or
indirectly controls, is controlled by, or is under common control with, such
person.

“Business
Day” means a day, other than a Saturday or Sunday, on which banks in New
York City are open for the general transaction of business.

“Common
Stock” shall mean the Company’s common stock, par value $0.01 per share,
and any securities into which such shares may hereinafter be reclassified.

“Prospectus”
shall mean (i) the prospectus included in any Registration Statement, 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 such
Registration Statement and by all other amendments and supplements to the
prospectus, including post-effective amendments and all material incorporated
by reference in such prospectus, and (ii) any “free writing prospectus” as
defined in Rule 405 under the 1933 Act.

“Purchasers”
shall mean the Purchasers identified in the Purchase Agreement and any
Affiliate or permitted transferee of any Purchaser who is a subsequent holder
of any Warrants or Registrable Securities.

“Register,”
“registered” and “registration” refer to a registration made by
preparing and filing a Registration Statement or similar document in compliance
with the 1933 Act (as defined below), and the declaration or ordering of
effectiveness of such Registration Statement or document.

“Registrable
Securities” shall mean (i) the Shares, (ii) the Warrant Shares and (iii)
any other securities issued or issuable with respect to or in exchange for
Registrable Securities; provided, that, a security shall cease to be a
Registrable Security upon (A) sale pursuant to a Registration Statement or Rule
144 under the 1933 Act, or (B) such security becoming eligible for sale by the
Purchasers pursuant to Rule 144.

“Registration
Statement” shall mean any registration statement of the Company filed under
the 1933 Act that covers the resale of any of the Registrable Securities
pursuant to the provisions of this Agreement, amendments and supplements to
such Registration Statement, including post-effective amendments, all exhibits
and all material incorporated by reference in such Registration Statement.

“Required
Purchasers” means the Purchasers holding a majority of the Registrable
Securities.

 

“SEC”
means the U.S. Securities and Exchange Commission.

“Shares”
means the shares of Common Stock issued to the Purchasers pursuant to the
Purchase Agreement.

“1933
Act” means the Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder.

“1934
Act” means the Securities Exchange Act of 1934, as amended, and the rules
and regulations promulgated thereunder.

“Warrants”
means, the warrants to purchase shares of Common Stock issued to the Purchasers
pursuant to the Purchase Agreement.

“Warrant
Shares” means the shares of Common Stock issuable upon the exercise of the
Warrants.

2.             Registration.

(a)           Registration
Statements.  (i) Promptly following
the Closing Date (as defined in the Purchase Agreement) but no later than
thirty (30) days after the Closing Date (the “Filing Deadline”), the Company
shall prepare and file with the SEC a Registration Statement on Form S-3 (or,
if Form S-3 is not then available to the Company, on such form of registration
statement as is then available to effect a registration for resale of the
Registrable Securities, subject to the Required Purchasers’ consent), covering
the resale of the Registrable Securities. 
Such Registration Statement shall include the plan of distribution
attached hereto as Exhibit A, subject to any SEC comments.  Such Registration Statement also shall cover,
to the extent allowable under the 1933 Act and the rules promulgated thereunder
(including Rule 416), such indeterminate number of additional shares of Common
Stock resulting from stock splits, stock dividends or similar transactions with
respect to the Registrable Securities. 
Except for certain shares of Common Stock for the Stanford Group Company
and its Affiliates, such Registration Statement shall not include any shares of
Common Stock or other securities for the account of any other holder without
the prior written consent of the Required Purchasers.  The Registration Statement (and each
amendment or supplement thereto, and each request for acceleration of
effectiveness thereof) shall be provided in accordance with Section 3(c) to the
Purchasers and their legal counsel prior to its filing or other submission.

(ii) If a Registration Statement covering all of the
Registrable Securities is not filed with the SEC within thirty (30) Business
Days of the Closing Date, the Company will make pro rata payments to each
Purchaser, as liquidated damages and not as a penalty, in an amount equal to
1.0% of the aggregate amount invested by such Purchaser for each 30 day period
or pro rata for any portion thereof following the date by which such
Registration Statement should have been filed for which no Registration Statement
is filed.  Such payments shall constitute
the Purchasers’ exclusive monetary remedy for such events, but shall not affect
the right of the Purchasers to seek injunctive relief.  Such payments shall be made to each Purchaser
in cash.

(b)           Expenses.  The Company will pay all expenses associated
with registration, including filing and printing fees, the Company’s legal
counsel and accounting fees 

 2
 

 

and expenses, costs associated with clearing the
Registrable Securities for sale under applicable state securities laws and
listing fees.

(c)           Effectiveness.

(i)            The
Company shall use commercially reasonable efforts to have the Registration
Statement declared effective as soon as practicable.  The Company shall notify the Purchasers by
facsimile or electronic mail as promptly as practicable, and in any event,
within twenty-four (24) hours, after any Registration Statement is declared
effective and shall promptly thereafter provide the Purchasers with copies of
any related Prospectus to be used in connection with the sale or other
disposition of the securities covered thereby. 
If (A)(x) a Registration Statement covering the Registrable Securities
is not declared effective by the SEC prior to the earlier of (i) five (5)
Business Days after the SEC shall have informed the Company that no review of
the Registration Statement will be made or that the SEC has no further comments
on the Registration Statement or (ii) the 120th day after the Closing Date, or (y) a
Registration Statement covering the Registrable Securities is not declared
effective by the SEC within one hundred twenty (120) days following the time
such Registration Statement was required to be filed pursuant to Section
2(a)(iii) or (B) after a Registration Statement has been declared effective by
the SEC, sales cannot be made pursuant to such Registration Statement for any
reason (including without limitation by reason of a stop order, or the Company’s
failure to update the Registration Statement), but excluding the inability of
any Purchaser to sell the Registrable Securities covered thereby due to market
conditions and except as excused pursuant to subparagraph (ii) below, then the
Company will make pro rata payments to each Purchaser, as liquidated damages
and not as a penalty, in an amount equal to 2.0% of the aggregate amount
invested by such Investor for the first thirty (30) day period, and an amount
equal to 1.0% of the aggregate amount invested by such Investor for each
subsequent thirty (30) day period or pro rata for any portion thereof following
the date by which such Registration Statement should have been effective (the “Blackout
Period”).  Such payments shall constitute
the Purchasers’ exclusive monetary remedy for such events, but shall not affect
the right of the Purchasers to seek injunctive relief.  The amounts payable as liquidated damages
pursuant to this paragraph shall be paid monthly within three (3) Business Days
of the last day of each month following the commencement of the Blackout Period
until the termination of the Blackout Period. 
Such payments shall be made to each Purchaser in cash.

(ii)           For
not more than twenty (20) consecutive days or for a total of not more than
forty-five (45) days in any twelve (12) month period, the Company may delay the
disclosure of material non-public information concerning the Company, by
suspending the use of any Prospectus included in any registration contemplated
by this Section containing such information, the disclosure of which at the
time is not, in the good faith opinion of the Company, in the best interests of
the Company (an “Allowed Delay”); provided, that the Company shall promptly (a)
notify the Purchasers in writing of the existence of (but in no event, without
the prior written consent of an Purchaser, shall the Company disclose to such
Purchaser any of the facts or circumstances regarding) material non-public
information giving rise to an Allowed Delay, (b) advise the Purchasers in
writing to cease all sales under the Registration Statement until the end of
the Allowed Delay and (c) use commercially reasonable efforts to terminate an
Allowed Delay as promptly as practicable.

 3
 

 

(iii) 
Notwithstanding anything herein to the contrary, in no event will the
Company be obligated to make payments to any Purchaser under Section 2(a)(ii)
or Section 2(c)(i) in excess of 10% of the aggregate amount invested by such
Purchaser.

(b)           Ineligibility
for Form S-3.  In the event that Form
S-3 is not available for the registration of the resale of Registrable
Securities hereunder, the Company shall (i) register the resale of the
Registrable Securities on another appropriate form reasonably acceptable to the
holders of at least a majority of the Registrable Securities and (ii) undertake
to register the Registrable Securities on Form S-3 as soon as such form is
available, provided that the Company shall maintain the effectiveness of the
Registration Statement then in effect until such time as a Registration
Statement on Form S-3 covering the Registrable Securities has been declared
effective by the SEC.

3.             Company Obligations.  The Company will use commercially reasonable
efforts to effect the registration of the Registrable Securities in accordance
with the terms hereof, and pursuant thereto the Company will, as expeditiously
as possible:

(a)           use
commercially reasonable efforts to cause such Registration Statement to become
effective and to remain continuously effective for a period that will terminate
upon the earlier of (i) the date on which all Registrable Securities covered by
such Registration Statement as amended from time to time, have been sold, (ii)
the date on which all Registrable Securities covered by such Registration
Statement may be sold pursuant to Rule 144(k), or (iii) five years from the
date hereof (the “Effectiveness Period”) and advise the Purchasers in writing
when the Effectiveness Period has expired;

(b)           prepare
and file with the SEC such amendments and post-effective amendments to the
Registration Statement and the Prospectus as may be necessary to keep the
Registration Statement effective for the Effectiveness Period and to comply
with the provisions of the 1933 Act and the 1934 Act with respect to the
distribution of all of the Registrable Securities covered thereby;

(c)           provide
copies to and permit counsel designated by the Purchasers to review the
Registration Statement and all amendments and supplements thereto no fewer than
seven (7) days prior to their filing with the SEC and not file any document to
which such counsel reasonably objects;

(d)           furnish
to the Purchasers and their legal counsel (i) promptly after the same is
prepared and publicly distributed, filed with the SEC, or received by the
Company (but not later than two (2) Business Days after the filing date,
receipt date or sending date, as the case may be) one (1) copy of any Registration
Statement and any amendment thereto, each preliminary prospectus and Prospectus
and each amendment or supplement thereto, and each letter written by or on
behalf of the Company to the SEC or the staff of the SEC, and each item of
correspondence from the SEC or the staff of the SEC, in each case relating to
such Registration Statement (other than any portion of any thereof which
contains information for which the Company has sought confidential treatment),
and (ii) such number of copies of a Prospectus, including a preliminary
prospectus, and all amendments and supplements thereto and such other documents
as each Purchaser may reasonably request in order to facilitate the 

 4
 

 

disposition of the Registrable Securities owned by
such Purchaser that are covered by the related Registration Statement;

(e)           use
commercially reasonable efforts to (i) prevent the issuance of any stop order
or other suspension of effectiveness and, (ii) if such order is issued, obtain
the withdrawal of any such order at the earliest possible moment;

(f)            prior
to any public offering of Registrable Securities, use commercially reasonable
efforts to register or qualify or cooperate with the Purchasers and their
counsel in connection with the registration or qualification of such Registrable
Securities for offer and sale under the securities or blue sky laws of such
jurisdictions requested by the Purchasers and do any and all other commercially
reasonable acts or things necessary or advisable to enable the distribution in
such jurisdictions of the Registrable Securities covered by the Registration
Statement; provided, however, that the Company shall not be required in
connection therewith or as a condition thereto to (i) qualify to do business in
any jurisdiction where it would not otherwise be required to qualify but for
this Section 3(f), (ii) subject itself to general taxation in any jurisdiction
where it would not otherwise be so subject but for this Section 3(f), or (iii)
file a general consent to service of process in any such jurisdiction;

(g)           use
commercially reasonable efforts to cause all Registrable Securities covered by
a Registration Statement to be listed on each securities exchange, interdealer
quotation system or other market on which similar securities issued by the
Company are then listed;

(h)           immediately
notify the Purchasers, at any time prior to the end of the Effectiveness
Period, upon discovery that, or upon the happening of any event as a result of
which, the Prospectus includes an untrue statement of a material fact or omits
to state any material fact required to be stated therein or necessary to make
the statements therein not misleading in light of the circumstances then
existing, and promptly prepare, file with the SEC and furnish to such holder a
supplement to or an amendment of such Prospectus as may be necessary so that
such Prospectus shall not include an untrue statement of a material fact or
omit to state a material fact required to be stated therein or necessary to
make the statements therein not misleading in light of the circumstances then
existing; and

(i)            otherwise
use commercially reasonable efforts to comply with all applicable rules and
regulations of the SEC under the 1933 Act and the 1934 Act, including, without
limitation, Rule 172 under the 1933 Act, file any final Prospectus, including
any supplement or amendment thereof, with the SEC pursuant to Rule 424 under
the 1933 Act, promptly inform the Purchasers in writing if, at any time during
the Effectiveness Period, the Company does not satisfy the conditions specified
in Rule 172 and, as a result thereof, the Purchasers are required to deliver a
Prospectus in connection with any disposition of Registrable Securities and
take such other actions as may be reasonably necessary to facilitate the
registration of the Registrable Securities hereunder; and make available to its
security holders, as soon as reasonably practicable, but not later than the
Availability Date (as defined below), an earnings statement covering a period
of at least twelve (12) months, beginning after the effective date of the
Registration Statement, which earnings statement shall satisfy the provisions
of Section 11(a) of the 1933 Act, including Rule 158 promulgated thereunder
(for the purpose of 

 5
 

 

this subsection 3(i), “Availability Date” means the
45th day following the end of the fourth fiscal quarter that includes the
effective date of such Registration Statement, except that, if such fourth
fiscal quarter is the last quarter of the Company’s fiscal year, “Availability
Date” means the 90th day after the end of such fourth fiscal quarter).

(j)            With
a view to making available to the Purchasers the benefits of Rule 144 (or its
successor rule) and any other rule or regulation of the SEC that may at any
time permit the Purchasers to sell shares of Common Stock to the public without
registration, the Company covenants and agrees to:  (i) make and keep public information
available, as those terms are understood and defined in Rule 144, until the
earlier of (A) six months after such date as all of the Registrable Securities
may be resold pursuant to Rule 144(k) or any other rule of similar effect or
(B) such date as all of the Registrable Securities shall have been resold; (ii)
file with the SEC in a timely manner all reports and other documents required
of the Company under the 1934 Act; and (iii) furnish to each Purchaser upon
request, as long as such Purchaser owns any Registrable Securities, (A) a
written statement by the Company that it has complied with the reporting
requirements of the 1934 Act, (B) a copy of the Company’s most recent Annual
Report on Form 10-K or Quarterly Report on Form 10-Q, and (C) such other
information as may be reasonably requested in order to avail such Purchaser of
any rule or regulation of the SEC that permits the selling of any such
Registrable Securities without registration.

4.             Due Diligence Review;
Information.  The Company shall make
available, during normal business hours, for inspection and review by the
Purchasers, advisors to and representatives of the Purchasers (who may or may
not be affiliated with the Purchasers and who are reasonably acceptable to the
Company), all financial and other records, all reports filed by the Company
pursuant to the 1934 Act and other filings with the SEC, and all other corporate
documents and properties of the Company as may be reasonably necessary for the
purpose of such review, and cause the Company’s officers, directors and
employees, within a reasonable time period, to supply all such information
reasonably requested by the Purchasers or any such representative, advisor or
underwriter in connection with such Registration Statement (including, without
limitation, in response to all questions and other inquiries reasonably made or
submitted by any of them), prior to and from time to time after the filing and
effectiveness of the Registration Statement for the sole purpose of enabling
the Purchasers and such representatives, advisors and underwriters and their
respective accountants and attorneys to conduct initial and ongoing due
diligence with respect to the Company and the accuracy of such Registration
Statement.

The
Company shall not disclose material nonpublic information to the Purchasers, or
to advisors to or representatives of the Purchasers, unless prior to disclosure
of such information the Company identifies such information as being material
nonpublic information and provides the Purchasers, such advisors and
representatives with the opportunity to accept or refuse to accept such
material nonpublic information for review and any Purchaser wishing to obtain
such information enters into an appropriate confidentiality agreement with the
Company with respect thereto.

 6
 

 

5.             Obligations of the Purchasers.

(a)           Each
Purchaser shall furnish in writing to the Company such information regarding
itself, the Registrable Securities held by it and the intended method of
disposition of the Registrable Securities held by it, as shall be reasonably
required to effect the registration of such Registrable Securities and shall
execute such documents in connection with such registration as the Company may
reasonably request.  At least five (5)
Business Days prior to the first anticipated filing date of any Registration
Statement, the Company shall notify each Purchaser of the information the Company
requires from such Purchaser if such Purchaser elects to have any of the
Registrable Securities included in the Registration Statement.  An Purchaser shall provide such information
to the Company at least two (2) Business Days prior to the first anticipated
filing date of such Registration Statement if such Purchaser elects to have any
of the Registrable Securities included in the Registration Statement.

(b)           Each
Purchaser, by its acceptance of the Registrable Securities agrees to cooperate
with the Company as reasonably requested by the Company in connection with the
preparation and filing of a Registration Statement hereunder, unless such
Purchaser has notified the Company in writing of its election to exclude all of
its Registrable Securities from such Registration Statement.

(c)           Each
Purchaser agrees that, upon receipt of any notice from the Company of either
(i) the commencement of an Allowed Delay pursuant to Section 2(c)(ii) or (ii)
the happening of an event pursuant to Section 3(h) hereof, such Purchaser will
immediately discontinue disposition of Registrable Securities pursuant to the
Registration Statement covering such Registrable Securities, until the
Purchaser receipt of the supplemented or amended prospectus filed with the SEC
and until and related post-effective amendment is declared effective by the
SEC.

6.             Indemnification.

(a)           Indemnification
by the Company.  The Company will
indemnify and hold harmless each Purchaser and its officers, directors,
members, employees and agents, successors and assigns, and each other person,
if any, who controls such Purchaser within the meaning of the 1933 Act, against
any losses, claims, damages or liabilities, joint or several, to which they may
become subject under the 1933 Act or otherwise, insofar as such losses, claims,
damages or liabilities (or actions in respect thereof) arise out of or are
based upon: (i) any untrue statement or alleged untrue statement of any
material fact contained in any Registration Statement, any preliminary
Prospectus or final Prospectus, or any amendment or supplement thereof; (ii)
any blue sky application or other document executed by the Company specifically
for that purpose or based upon written information furnished by the Company
filed in any state or other jurisdiction in order to qualify any or all of the
Registrable Securities under the securities laws thereof (any such application,
document or information herein called a “Blue Sky
Application”); (iii) the omission or alleged
omission to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading; (iv) any violation by
the Company or its agents of any rule or regulation promulgated under the 1933
Act and the 1934 Act applicable to the Company or its agents and relating to
action or inaction required of the Company in connection with such
registration; (v) any material violation of this Agreement; or (vi) any failure
to register or qualify the Registrable Securities included in any such
Registration in any state where the Company or its agents has affirmatively
undertaken or agreed 

 7
 

 

in writing that the Company will undertake such registration
or qualification on a Purchaser’s behalf and will reimburse such Purchaser, and
each such officer, director or member and each such controlling person for any
legal or other expenses, including reasonable attorneys’ fees, reasonably
incurred by them 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 if and to the extent that any such
loss, claim, damage or liability arises out of or is based upon an untrue
statement or alleged untrue statement or omission or alleged omission so made
in conformity with information furnished by such Purchaser or any such
controlling person in writing specifically for use in such Registration
Statement or Prospectus.

(b)           Indemnification
by the Purchasers.  Each Purchaser
agrees, severally but not jointly, to indemnify and hold harmless, to the
fullest extent permitted by law, the Company, its directors, officers,
employees, stockholders and each person who controls the Company (within the
meaning of the 1933 Act) against any losses, claims, damages, liabilities and
expense (including reasonable attorney fees) resulting from any untrue
statement of a material fact or any omission of a material fact required to be
stated in the Registration Statement or Prospectus or preliminary Prospectus or
amendment or supplement thereto or necessary to make the statements therein not
misleading, to the extent, but only to the extent that such untrue statement or
omission is contained in any information furnished in writing by such Purchaser
to the Company specifically for inclusion in such Registration Statement or
Prospectus or amendment or supplement thereto. 
In no event shall the liability of an Purchaser be greater in amount
than the dollar amount of the proceeds (net of all expense paid by such
Purchaser in connection with any claim relating to this Section 6 and the
amount of any damages such Purchaser has otherwise been required to pay by
reason of such untrue statement or omission) received by such Purchaser upon
the sale of the Registrable Securities included in the Registration Statement
giving rise to such indemnification obligation.

(c)           Conduct
of Indemnification Proceedings.  Any
person entitled to indemnification hereunder shall (i) give prompt notice to
the indemnifying party of any claim with respect to which it seeks
indemnification and (ii) permit such indemnifying party to assume the defense
of such claim with counsel reasonably satisfactory to the indemnified party; provided
that any person entitled to indemnification hereunder shall have the right to
employ separate legal counsel and to participate in the defense of such claim,
but the fees and expenses of such legal counsel shall be at the expense of such
person unless (a) the indemnifying party has agreed to pay such fees or
expenses, or (b) the indemnifying party shall have failed to assume the defense
of such claim and employ counsel reasonably satisfactory to such person or (c)
in the reasonable judgment of any such person, based upon written advice of its
legal counsel, a conflict of interest exists between such person and the indemnifying
party with respect to such claims (in which case, if the person notifies the
indemnifying party in writing that such person elects to employ separate
counsel at the expense of the indemnifying party, the indemnifying party shall
not have the right to assume the defense of such claim on behalf of such
person); 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 hereunder, except to the extent that such
failure to give notice shall materially adversely affect the indemnifying party
in the defense of any such claim or litigation. 
It is understood that the indemnifying party shall not, in connection
with any proceeding in the same jurisdiction, be liable for fees or expenses of
more than one separate firm of attorneys at any time for all such indemnified
parties.  No indemnifying party 

 8
 

 

will, except with the consent of the indemnified
party, consent to entry of any judgment or enter into any settlement that 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.

(d)           Contribution.  If for any reason the indemnification
provided for in the preceding paragraphs (a) and (b) is unavailable to an
indemnified party or insufficient to hold it harmless, other than as expressly
specified therein, then the indemnifying party shall contribute to the amount
paid or payable by the indemnified party as a result of such loss, claim,
damage or liability in such proportion as is appropriate to reflect the
relative fault of the indemnified party and the indemnifying party, as well as
any other relevant equitable considerations. 
No person guilty of fraudulent misrepresentation within the meaning of
Section 11(f) of the 1933 Act shall be entitled to contribution from any person
not guilty of such fraudulent misrepresentation.  In no event shall the contribution obligation
of a holder of Registrable Securities be greater in amount than the dollar
amount of the proceeds (net of all expenses paid by such holder in connection
with any claim relating to this Section 6 and the amount of any damages such
holder has otherwise been required to pay by reason of such untrue or alleged
untrue statement or omission or alleged omission) received by it upon the sale
of the Registrable Securities giving rise to such contribution obligation.

7.             Miscellaneous.

(a)           Amendments
and Waivers.  This Agreement may be
amended only by a writing signed by the Company and the Required
Purchasers.  The Company may take any
action herein prohibited, or omit to perform any act herein required to be
performed by it, only if the Company shall have obtained the written consent to
such amendment, action or omission to act, of the Required Purchasers.

(b)           Notices.  All notices and other communications provided
for or permitted hereunder shall be sent (i) to the addresses provided by the
Purchasers on the signature page to the Purchase Agreement or (ii) to 303 George Street, Suite 420, New
Brunswick, New Jersey 08901, Attention: 
President for the Company.

(c)           Assignments
and Transfers by Purchasers.  The
provisions of this Agreement shall be binding upon and inure to the benefit of
the Purchasers and their respective successors and assigns.  An Purchaser may transfer or assign, in whole
or from time to time in part, to one or more persons its rights hereunder in
connection with the transfer of Registrable Securities by such Purchaser to
such person, provided that such Purchaser complies with all laws applicable
thereto and provides written notice of assignment to the Company promptly after
such assignment is effected.

(d)           Assignments
and Transfers by the Company.  This
Agreement may not be assigned by the Company (whether by operation of law or
otherwise) without the prior written consent of the Required Purchasers,
provided, however, that the Company may assign its rights and delegate its
duties hereunder to any surviving or successor corporation in connection with a
merger or consolidation of the Company with another corporation, or a sale,
transfer or other disposition of all or substantially all of the Company’s
assets to another corporation,

 9
 

 

without the prior written consent of the Required
Purchasers, after notice duly given by the Company to each Purchaser.

(e)           Benefits
of the Agreement.  The terms and
conditions of this Agreement shall inure to the benefit of and be binding upon
the respective permitted successors and assigns of the parties.  Nothing in this Agreement, express or
implied, is intended to confer upon any party other than the parties hereto or
their respective successors and assigns any rights, remedies, obligations, or
liabilities under or by reason of this Agreement, except as expressly provided
in this Agreement.

(f)            Counterparts;
Faxes.  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 one and the same
instrument.  This Agreement may also be
executed via facsimile, which shall be deemed an original.

(g)           Titles
and Subtitles.  The titles and
subtitles used in this Agreement are used for convenience only and are not to
be considered in construing or interpreting this Agreement.

(h)           Severability.  Any provision of this Agreement that is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof but shall be interpreted as if it
were written so as to be enforceable to the maximum extent permitted by
applicable law, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.  To the extent
permitted by applicable law, the parties hereby waive any provision of law
which renders any provisions hereof prohibited or unenforceable in any respect.

(i)            Further
Assurances.  The parties shall
execute and deliver all such further instruments and documents and take all
such other actions as may reasonably be required to carry out the transactions
contemplated hereby and to evidence the fulfillment of the agreements herein
contained.

(j)            Entire
Agreement.  This Agreement is
intended by the parties as a final expression of their agreement and intended
to be a complete and exclusive statement of the agreement and understanding of
the parties hereto in respect of the subject matter contained herein.  This Agreement supersedes all prior
agreements and understandings between the parties with respect to such subject
matter.

(k)           Governing
Law.  This Agreement shall be
governed by and construed in accordance with the laws of the State of Delaware applicable in the case of agreements made and to be
performed entirely within such State, without regard to principles of conflicts
of law, and the parties hereto hereby submit to the exclusive jurisdiction of
the state and federal courts located in the State of New Jersey.

[Signature page follows]

 10

IN
WITNESS WHEREOF, the parties have executed this Agreement or caused their duly
authorized officers to execute this Agreement as of the date first above
written.

	
  The Company:

  	
  SENESCO TECHNOLOGIES, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
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  Title:

  	
   

  

 

[Signature Page to the Registration Rights Agreement]

 

The
Purchasers:

	
  

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
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Exhibit A

Plan of Distribution

The
selling stockholders, which as used herein includes donees, pledgees,
transferees or other successors-in-interest selling shares of common stock or
interests in shares of common stock received after the date of this prospectus
from a selling stockholder as a gift, pledge, partnership distribution or other
transfer, may, from time to time, sell, transfer or otherwise dispose of any or
all of their shares of common stock or interests in shares of common stock on
any stock exchange, market or trading facility on which the shares are traded
or in private transactions.  These
dispositions may be at fixed prices, at prevailing market prices at the time of
sale, at prices related to the prevailing market price, at varying prices
determined at the time of sale, or at negotiated prices.

The
selling stockholders may use any one or more of the following methods when
disposing of shares or interests therein:

· 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;

· short sales
effected after the date the registration statement of which this Prospectus is
a part is declared effective by the SEC;

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

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

· a combination of
any such methods of sale.

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

 

selling
stockholders under this prospectus.  The
selling stockholders also may transfer the shares of common stock in other
circumstances, in which case the transferees, pledgees or other successors in
interest will be the selling beneficial owners for purposes of this prospectus.

In connection
with the sale of our common stock or interests therein, the selling
stockholders 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 stockholders may also sell shares
of our common stock short and deliver these securities to close out their short
positions, or loan or pledge the common stock to broker-dealers that in turn
may sell these securities.  The selling
stockholders 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
aggregate proceeds to the selling stockholders from the sale of the common
stock offered by them will be the purchase price of the common stock less
discounts or commissions, if any.  Each
of the selling stockholders reserves the right to accept and, together with
their agents from time to time, to reject, in whole or in part, any proposed
purchase of common stock to be made directly or through agents.  We will not receive any of the proceeds from
this offering. Upon any exercise of the warrants by payment of cash, however,
we will receive the exercise price of the warrants.

The
selling stockholders also may resell all or a portion of the shares in open
market transactions in reliance upon Rule 144 under the Securities Act of 1933,
provided that they meet the criteria and conform to the requirements of that
rule.

The
selling stockholders and any underwriters, broker-dealers or agents that
participate in the sale of the common stock or interests therein may be “underwriters”
within the meaning of Section 2(11) of the Securities Act.  Specifically, the selling stockholders who
are registered broker-dealers are deemed to be “underwriters” within the
meaning of the Securities Act. In addition, selling stockholders who are
affiliates of registered broker-dealers may be deemed to be “underwriters”
within the meaning of the Securities Act if such selling stockholder
(i) did not acquire the shares of common stock in the ordinary course of
business or (ii) had any agreement or understanding, directly or
indirectly, with any person to distribute the shares of common stock. 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, and such selling stockholders
may be subject to certain additional regulations and statutory liabilities
under the Securities Act and Exchange Act. To our knowledge and based upon
information we received from the selling stockholders, (i) each selling
stockholder that is a registered broker-dealer or affiliated with a registered
broker-dealer acquired the shares of common stock in the ordinary course of
business, (ii) such selling stockholder did not have any agreement or
understanding, directly or indirectly, with any person to distribute the shares
of common stock, and (iii) no such selling stockholder received any
securities as underwriting compensation, except for H.C. Wainwright & Co.,
Inc. as 

 

compensation for
acting as the placement agent in connection with the issuance of our common
stock. We are also not aware of any underwriting plan or agreement,
underwriters’ or dealers’ compensation, or passive market making or stabilizing
transactions involving the purchase or distribution of these securities.

Any
discounts, commissions, concessions or profit they earn on any resale of the
shares may be underwriting discounts and commissions under the Securities
Act.  Selling stockholders who are “underwriters”
within the meaning of Section 2(11) of the Securities Act will be subject to
the prospectus delivery requirements of the Securities Act.

To the
extent required, the shares of our common stock to be sold, the names of the
selling stockholders, the respective purchase prices and public offering
prices, the names of any agents, dealer or underwriter, any applicable
commissions or discounts with respect to a particular offer will be set forth
in an accompanying prospectus supplement or, a post-effective amendment to the
registration statement that includes this prospectus, or, if appropriate, a
filing pursuant to the Securities Exchange Act of 1934, as amended.

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

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

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

We
have agreed with the selling stockholders to keep the registration statement of
which this prospectus constitutes a part effective until the earlier of (1)
such time as all of the shares covered by this prospectus have been disposed of
pursuant to and in accordance with the registration statement, (2) the date on
which the shares may be sold pursuant to Rule 144(k) of the Securities Act, or
(3) October 10, 2011.

 

 

	
  Purchaser

  	
   

  	
   

  	
   

  	
  Amount

  	
   

  	
  # of Shares

  	
   

  	
  # of Warrants

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Christopher
  Forbes

  	
   

  	
  $

  	
  1,000,000

  	
   

  	
  883,002

  	
   

  	
  441,501

  	
   

  
	
  Thomas C. Quick
  Charitable Foundation

  	
   

  	
  300,000

  	
   

  	
  264,901

  	
   

  	
  132,450

  	
   

  
	
  Ruedi Stalder

  	
   

  	
  105,841

  	
   

  	
  93,458

  	
   

  	
  46,729

  	
   

  
	
  Bruce C. Galton

  	
   

  	
  75,000

  	
   

  	
  66,225

  	
   

  	
  33,113

  	
   

  
	
  John N. Braca

  	
   

  	
  11,325

  	
   

  	
  10,000

  	
   

  	
  5,000

  	
   

  
	
  David Rector

  	
   

  	
  11,325

  	
   

  	
  10,000

  	
   

  	
  5,000

  	
   

  
	
  Dhananjaya
  Dvivedi

  	
   

  	
  250,000

  	
   

  	
  220,751

  	
   

  	
  110,375

  	
   

  
	
  Otago Partners,
  LLC

  	
   

  	
  166,000

  	
   

  	
  146,578

  	
   

  	
  73,289

  	
   

  
	
  Iroquois Master
  Fund Ltd.

  	
   

  	
  150,000

  	
   

  	
  132,450

  	
   

  	
  66,225

  	
   

  
	
  Timothy Forbes

  	
   

  	
  100,000

  	
   

  	
  88,300

  	
   

  	
  44,150

  	
   

  
	
  Michael Berry

  	
   

  	
  50,000

  	
   

  	
  44,150

  	
   

  	
  22,075

  	
   

  
	
  James E. Currie

  	
   

  	
  30,000

  	
   

  	
  26,490

  	
   

  	
  13,245

  	
   

  
	
   

  	
   

  	
  $

  	
  2,249,491

  	
   

  	
  1,986,306

  	
   

  	
  993,153

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}]]