Document:

Unassociated Document

    Exhibit
10.15

    

    

    THIS
WARRANT AND THE SHARES ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933 ACT, AS AMENDED (THE "1933 ACT"). THE HOLDER
HEREOF, BY PURCHASING THIS WARRANT, AGREES FOR THE BENEFIT OF THE COMPANY THAT
SUCH SECURITIES MAY BE OFFERED, SOLD OR OTHERWISE TRANSFERRED ONLY (A) TO THE
COMPANY, (B) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE 1933 ACT AND
ANY APPLICABLE STATE SECURITES LAWS, OR (C) IF REGISTERED UNDER THE 1933 ACT AND
ANY APPLICABLE STATE SECURITIES LAWS.

    

    
      
        

      

    

    

    MICROHELIX,
INC.

    

    WARRANT
TO PURCHASE

    

    SHARES OF
COMMON STOCK

    

    Expires
June __, 2013

    

    

    Portland, Oregon

    Issue Date:  June__,
2008

    

    IN
CONSIDERATION OF the representations and covenants set forth herein, and other
good and valuable consideration received, and subject to the provisions
hereinafter set forth, microHelix, Inc., an Oregon
corporation (the "Company"), hereby certifies
that ___________, a
________corporation, or its registered assigns (the "Warrant Holder") is entitled to subscribe
for and purchase, during the period specified in this Warrant, up
to _________ shares ("Warrant Shares") (subject to
adjustment as hereinafter provided) of the duly authorized, validly issued,
fully paid and non-assessable Common Stock of the Company, at an exercise price
per share equal to $0.001 per share (subject to
adjustment as hereinafter provided, the "Exercise Price") subject,
however, to the provisions and upon the terms and conditions hereinafter set
forth.  The right to purchase Warrant Shares will expire at 12:01
a.m., Pacific Time, on June__, 2013.

    

    1.           Registration of
Warrant.  The Company will register this Warrant upon records
to be maintained by the Company for that purpose (the "Warrant Register"), in the
name of the record Warrant Holder hereof from time to time.  The
Company may deem and treat the registered Warrant Holder of this Warrant as the
absolute owner hereof for the purpose of any exercise hereof or any distribution
to the Warrant Holder, and for all other purposes, and the Company will not be
affected by notice to the contrary.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.           Representations and Covenants of the
Warrant Holder.  This Warrant has been entered into by the
Company in reliance upon the following representations and covenants of the
Warrant Holder:

    

    (a)           The
Warrant Holder by accepting this Warrant represents that the Warrant Holder is
acquiring this Warrant for its own account or the account of an affiliate for
investment purposes and not with the view to any offering or distribution and
that the Warrant Holder will not sell or otherwise dispose of this Warrant or
the underlying Warrant Shares in violation of applicable securities
laws.

    

    (b)           The
Warrant Holder acknowledges that the certificates representing any Warrant
Shares will bear a legend indicating that they have not been registered under
the United States Securities Act of 1933, as amended (the "1933 Act"), and may not be
sold by the Warrant Holder except pursuant to an effective registration
statement or pursuant to an exemption from registration requirements of the 1933
Act and in accordance with federal and state securities laws.

    

    (c)           In
no event will the Warrant Holder make a disposition of any of its rights to
acquire Common Stock or Common Stock issuable upon exercise of such rights
unless and until (i)  it has notified the Company of the proposed
disposition, and (ii)  if requested by the Company, it has furnished
the Company with an opinion of counsel satisfactory to the Company and its
counsel to the effect that (A) appropriate action necessary for compliance with
the 1933 Act has been taken, or (B) an exemption from the registration
requirements of the 1933 Act is available.  Notwithstanding the
foregoing, the restrictions on the transferability of any security will
terminate when such security is effectively registered under the 1933 Act and
sold by the holder thereof in accordance with such registration, or such
security is sold without registration in compliance with Rule 144 under the 1933
Act.  Whenever the restrictions imposed under this section terminate,
the Warrant Holder or holder of a share of Common Stock then outstanding as to
which such restrictions have terminated will be entitled to receive from the
Company one or more new certificates for the Warrant or for such shares of
Common Stock not bearing any restrictive legend.

    

    (d)           The
Warrant Holder is an "accredited investor" within the meaning of Rule 501(a) of
Regulation D promulgated under the 1933 Act.

    

    (e)           The
Warrant Holder has such knowledge and experience in financial and business
matters as to be capable of evaluating the merits and risks of its investment,
and has the ability to bear the economic risks of its investment.

    

    (f)           The
Warrant Holder understands that if a registration statement covering this
Warrant or the Common Stock is not in effect when it desires to sell this
Warrant or the Common Stock, it may be required to hold such securities for an
indefinite period.  The Warrant Holder also understands that any sale
of this Warrant or the Common Stock purchased under this Warrant which might be
made by it in reliance upon Rule 144 under the 1933 Act may be made only in
accordance with the terms and conditions of that Rule.

    

    3.           Validity of Warrant and Issue of
Shares.  The Company represents and warrants that this Warrant
has been duly authorized and validly issued and warrants and agrees that all of
Common Stock that may be issued upon the exercise of the rights represented by
this Warrant will, when issued upon such exercise, be duly authorized, validly
issued, fully paid and nonassessable and free from all taxes, liens and charges
with respect to the issue thereof.  The Company further warrants and
agrees that during the period within which the rights represented by this
Warrant may be exercised, the Company will at all times have authorized and
reserved a sufficient number of Common Stock to provide for the exercise of the
rights represented by this Warrant.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    4.           Registration of
Transfers of Warrant.  Subject to compliance with the legend
set forth on the face of this Warrant and Section
2(c), the Company will register the transfer of any portion of
this Warrant in the Warrant Register, upon surrender of this Warrant with the
Form of Assignment attached hereto duly completed and signed, to the
Company.  Upon any such registration or transfer, a new warrant to
purchase Common Stock, in substantially the form of this Warrant (any such new
warrant, a "New
Warrant"), evidencing the portion of this Warrant so transferred will be
issued to the transferee and a New Warrant evidencing the remaining portion of
this Warrant not so transferred, if any, will be issued to the transferring
Warrant Holder.  The acceptance of the New Warrant by the transferee
thereof will be deemed the acceptance of such transferee of all of the rights
and obligations of a Warrant Holder of a Warrant.

    

    5.           Exercise of
Warrants.

    

    (a)           Upon
surrender of this Warrant with the Form of Election to Purchase attached hereto
duly completed and signed to the Company, and upon payment and delivery of the
Exercise Price per Warrant Share multiplied by the number of Warrant Shares that
the Warrant Holder intends to purchase hereunder, in lawful money of the United
States of America, in cash or by certified or official bank check or checks, to
the Company, all as specified by the Warrant Holder in the Form of Election to
Purchase, the Company will promptly issue or cause to be issued  and
cause to be delivered to or upon the written order of the Warrant Holder and in
such name or names as the Warrant Holder may designate (subject to the
restrictions on transfer described in Section 2(c) and in the
legend set forth on the face of this Warrant), a certificate for the Warrant
Shares issuable upon such exercise, with such restrictive legend as required by
the 1933 Act.  Any person so designated by the Holder to receive
Warrant Shares will be deemed to have become the holder of record of such
Warrant Shares as of the Date of Exercise of this Warrant.

    

    (b)           A
"Date of Exercise" means
the date on which the Company will have received (i) this Warrant (or any New
Warrant, as applicable), with the Form of Election to Purchase attached hereto
(or attached to such New Warrant) appropriately completed and duly signed, and
(ii) payment of the Exercise Price for the number of Warrant Shares indicated by
the Warrant Holder to be purchased.

    

    (c)           If
less than all of the Warrant Shares which may be purchased under this Warrant
are exercised at any time, the Company will issue or cause to be issued a New
Warrant evidencing the right to purchase the remaining number of Warrant
Shares.

    

    (d)           The
holder of this Warrant may, at its election, exercise this Warrant in whole or
in part and, in lieu of making the cash payment otherwise contemplated to be
made to the Company upon such exercise in payment of the aggregate Exercise
Price, elect instead to receive upon such exercise the "Net Number" of shares of
Common Stock determined according to the following formula (a "Cashless
Exercise"):

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    Net
Number = (A x (B - C))/B

    

    (ii)  For purposes of the
foregoing formula:

    

    A = the
total number of shares with respect to which this Warrant is then being
exercised.

    

    B = the
average Market Price (as defined below) over a twenty-one (21) day period ending
three trading days before the effective date of the Exercise
Notice.

    

    C = the
Warrant Exercise Price then in effect at the time of such exercise.

    

    "Market Price" means, with
respect to Warrant Shares, if (i) the shares are listed or admitted for listing
on any national securities exchange or included in The Nasdaq Global Market or
the Nasdaq Capital Market, the last reported sales price as reported on such
exchange or market; (ii) if the shares are not so listed or admitted for
trading, the average of the last reported closing bid and asked quotation for
the shares as reported on the National Association of Securities Dealers
Automated Quotation System ("Nasdaq") or a similar service if Nasdaq is not
reporting such information; or (iii) if the shares are not so listed or admitted
for trading or quoted by Nasdaq or a similar service, the average of the last
reported bid and asked quotation for the shares as quoted by a market maker in
the shares (or if there is more than one market maker, then the average of the
lowest bid and highest asked quotation).  In the absence of any
available public quotations for the shares, the Board of Directors of the
Company will determine in good faith the fair market value of the shares, which
determination will be set forth in a certificate signed by the Secretary of the
Company.

    

    6.           Adjustment of Exercise Price and
Number of Shares.  The character of the shares of stock or
other securities at the time issuable upon exercise of this Warrant, the number
of Warrant Shares, and the Exercise Price are subject to adjustment upon the
occurrence of the following events, and all such adjustments will be
cumulative:

    

    (a)           The
Exercise Price of this Warrant and the number of shares of Common Stock or other
securities at the time issuable upon exercise of this Warrant will be
appropriately adjusted to reflect any stock dividend, stock split, combination
of shares, reclassification, recapitalization or other similar event affecting
the number of outstanding shares of stock or securities.

    

    (b)           In
case of any consolidation or merger of the Company with or into any other
corporation, entity or person, or any other corporate reorganization, in which
the Company will not be the continuing or surviving entity of such
consolidation, merger or reorganization (any such transaction being hereinafter
referred to as a "Reorganization"), then, in
each case, the holder of this Warrant, on exercise at any time after the
consummation or effective date of such Reorganization (the "Effective Date"), will
receive, in lieu of the shares of stock or other securities at any time issuable
upon the exercise of the Warrant issuable on such exercise prior to the
Effective Date, the stock and other securities and property (including cash) to
which such holder would have been entitled upon the Effective Date if such
holder had exercised this Warrant immediately prior thereto (all subject to
further adjustment as provided in this Warrant).

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    (c)           In
case of any adjustment or readjustment in the price or kind of securities
issuable on the exercise of this Warrant, the Company will promptly give written
notice thereof to the holder of this Warrant, setting forth such adjustment or
readjustment and showing in reasonable detail the facts upon which such
adjustment or readjustment is based.

    

    7.           Fractional
Shares.  The Company will not be required to issue or cause to
be issued fractional Warrant Shares on the exercise of this
Warrant.  The number of full Warrant Shares that will be issuable upon
the exercise of this Warrant will be computed on the basis of the aggregate
number of Warrant Shares purchasable on exercise of this Warrant so
presented.  If any fraction of a Warrant Share would, except for the
provisions of this Section 7, be issuable on
the exercise of this Warrant, the Company will, at its option, (i) pay an amount
in cash equal to the Exercise Price multiplied by such fraction or (ii) round
the number of Warrant Shares issuable up to the next whole number.

    

    8.           Notice of Intent to Sell or Merge the
Company. The
Company will give Warrant Holder ten (10) days notice before the event of a sale
of all or substantially all of the assets of the Company or the merger or
consolidation of the Company in a transaction in which the Company is not the
surviving entity.

    

    9.           Registration Rights.
  The Warrant Shares are subject to registration under the 1933
Act pursuant to a Registration Rights Agreement entered into concurrently with
this Warrant between the Company and the Warrant Holder.

    

    10.           Notices.  All
notices and other communications hereunder will be in writing and will be deemed
to have been given (i) on the date they are delivered if delivered in person;
(ii) on the date initially received if delivered by facsimile transmission
followed by registered or certified mail confirmation; (iii) on the date
delivered by an overnight courier service; or (iv) on the third business day
after it is mailed by registered or certified mail, return receipt requested
with postage and other fees prepaid as follows:

    

    If to the
Company:

    

    microHelix,
Inc.

    PO Box
1030

    Tualatin,
Oregon 97062

    Attention:  President

    

    If to the Warrant
Holder:

    

    Name

    Address

    Attention:

    

    Either
party may subsequently designate another address for notices by written notice
to the other party.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    11.           Miscellaneous.

    

    (a)           This
Warrant constitutes the entire agreement between the Company and Warrant Holder
with respect to the subject matter hereof, and supersedes all prior agreements
between the parties with respect to such subject matter.  This Warrant
will be binding on and inure to the benefit of the parties hereto and their
respective successors and permitted assigns.  This Warrant may be
amended only in a writing signed by the Company and the Warrant
Holder.

    

    (b)           Nothing
in this Warrant will be construed to give to any person or corporation other
than the Company and the Warrant Holder any legal or equitable right, remedy or
cause of action under this Warrant; this Warrant will be for the sole and
exclusive benefit of the Company and the Warrant Holder.

    

    (c)           This
Warrant will be governed by, construed and enforced in accordance with the
internal laws of the State of Oregon without giving effect to principles of
conflicts of law.  The parties hereto irrevocably submit to the
jurisdiction of any state or federal court sitting in Multnomah County, Oregon,
in any action or proceeding brought to enforce, or otherwise arising out of or
relating to, this Warrant, and hereby waive any objection to venue in any such
court and any claim that such forum is an inconvenient forum.

    

    (d)           Each
party hereby irrevocably waives any right it may have, and agrees not to
request, a jury trial for the adjudication of any dispute hereunder or in
connection herewith or arising out of this Warrant or any transaction
contemplated hereby.  In the event suit or action is brought by any
party under this Warrant to enforce any of its terms, or in any appeal
therefrom, it is agreed that the prevailing party or parties will be entitled to
reasonable attorneys fees to be fixed by the arbitrator, trial court, and/or
appellate court.

    

    (e)           The
parties agree that a breach or violation of this Warrant will result in
immediate and irreparable harm to the non-breaching party in an amount that will
be impossible to ascertain at the time of the breach or violation, and that the
award of monetary damages will not be adequate relief to the non-breaching
party.  The non-breaching party will be entitled to seek equitable or
injunctive relief, in addition to other remedies to which it may be entitled at
law or equity.  In any action for equitable relief, the parties agree
to waive any requirement for the posting of a bond or security.

    

    (f)           The
headings herein are for convenience only, do not constitute a part of this
Warrant and will not be deemed to limit or affect any of the provisions
hereof.

    

    (g)           In
case any one or more of the provisions of this Warrant will be invalid or
unenforceable in any respect, the validity and enforceability of the remaining
terms and provisions of this Warrant will not in any way be affected or impaired
thereby and the parties will attempt in good faith to agree upon a valid and
enforceable provision which will be a commercially reasonably substitute
therefor, and upon so agreeing, will incorporate such substitute provision in
this Warrant.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    (h)           The
Warrant Holder will not, by virtue hereof, be entitled to any voting or other
rights of a shareholder of the Company, either at law or equity, and the rights
of the Warrant Holder are limited to those expressed in this
Warrant.

    

    (i)           This
Warrant may be executed in one or more counterparts, each of which when executed
will be deemed to be an original, but all of which taken together will
constitute one and the same agreement.  A facsimile transmission of
this signed Warrant will be legal and binding on all parties
hereto.

    

    IN
WITNESS WHEREOF, each party has caused this Warrant to be duly executed by its
authorized representative effective as of the Original Issue Date.

     

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                	COMPANY:      	 	 	WARRANT
HOLDER:	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	MICROHELIX,
      INC.    	 	 	NAME	 
	 	 	 	 	 	 
	By:	
                                         

                                      	 	By:	
                                         

                                      	 
	 	
                                        James
      E. Horswill    

                                      	 	 	
                                        Name 

                                      	 
	 	
                                        President   

                                      	 	 	
                                        Title

                                      	 

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    

    FORM
OF ELECTION TO PURCHASE

    

    (To be
executed by the Warrant Holder to exercise the right to purchase shares of
Common Stock under the foregoing Warrant)

     

    

    To:  MICROHELIX, INC.

    

     

    In
accordance with the Warrant enclosed with this Form of Election to Purchase, the
undersigned hereby irrevocably elects to purchase shares of Common Stock
("Common Stock"), no par value, of microHelix, Inc. and encloses the
warrant.

     

    Method of
Exercise (Please check one box):

     

    o The undersigned
elects to exercise the attached Warrant by means of a cash payment, and tenders
herewith the Exercise Price (as defined in the Warrant, originally $__ per
Warrant Share) for each Warrant Share being purchased or an aggregate of $ in
cash or certified or official bank check or checks, which sum represents the
aggregate Exercise Price together with any applicable taxes payable by the
undersigned pursuant to the Warrant.

     

    o  The
undersigned elects to exercise the attached Warrant by means of the net exercise
provisions of Section 5(d) of the Warrant.

    

    The
undersigned requests that certificates for the shares of Common Stock issuable
upon this exercise be issued in the name of:

    

      
        

      

    

    
      
        

      

    

    
      
        

      

    

    (Please
print name and address)

     

    

    
      
        

      

    

    (Please
insert Social Security or Tax Identification Number)

    

    If the
number of shares of Common Stock issuable upon this exercise will not be all of
the shares of Common Stock which the undersigned is entitled to purchase in
accordance with the enclosed Warrant, the undersigned requests that a New
Warrant (as defined in the Warrant) evidencing the right to purchase the shares
of Common Stock not issuable pursuant to the exercise evidenced hereby be issued
in the name of and delivered to:

    

    

    
      
        

      

      
        

      

      
        

      

    

    (Please
print name and address)

    

    
      
        
          
            
              
                
                  	

                          Dated: ____________  

                        	Name
      of Warrant Holder:	 
	 	 	 	 
	
                           

                        	
                          (Print) 
      

                        	 	 
	 	(By)	 	 
	 	(Name) 
      	 	 
	 	(Title)	 	 
	 	

                          Signature
      must conform in all respects to name of Warrant Holder as specified on the
      face of the
Warrant

                        

                

              

            

          

        

      

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

                                                                  

    FORM
OF ASSIGNMENT

    (To be
signed only on transfer of Warrant)

    

    

    TO:    MICROHELIX,
INC.

    

    FOR VALUE
RECEIVED, the undersigned Registered Holder  __________________________

                                                                                                                            
Print
Name of Holder

    

    _______________________________________
(Please
insert Social Security or Tax Identification Number of 

    Registered
Holder)

    

    hereby
sells, assigns and transfers unto

    

    

    
      

      

      

    

    (Please
Print Name and Address including Zip Code)

    

    

    
      
 (Please insert Social Security or Tax Identification Number of
Assignee)

    

    The right
to purchase ________ shares of Common Stock of microHelix, Inc., evidenced by
the attached Warrant, and irrevocably constitutes and appoints
_____________________________________ attorney to transfer this Warrant on the
books of microHelix, Inc. with the full power of substitution in the
premises.

    

    If this
assignment is not an assignment of all of the shares of Common Stock which the
undersigned is entitled to purchase in accordance with the enclosed Warrant, the
undersigned requests that a new Warrant evidencing the right to purchase the
shares of Common Stock not assigned hereby be issued in the name of and
delivered to the Registered Holder.

    

    Dated:
____________________                                                      

     

    Signature:

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            	 	 	 	 	 	 
	 	 	 	 	 	 
	By:
      	
                                     

                                  	 	 	
                                     

                                  	 
	 	 	 	 	 	 
	Title:
      	
                                     

                                  	 	 	
                                     

                                  	 
	 	
                                     

                                  	 	 	
                                     

                                  	 

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

                                                     

    (Signature
must conform in all respects to the name of the Registered Holder as specified
on the face of the attached Warrant in every particular, without alteration
or any change whatsoever.)

     

    
      
        
        

      

      
        9Unassociated Document

    Exhibit
10.16

    

    [FORM
OF] REGISTRATION RIGHTS AGREEMENT

    

    THIS REGISTRATION RIGHTS AGREEMENT
(this "Agreement") is
entered into effective June 27, 2008 (the "Closing Date")
between microHelix, Inc., an Oregon corporation (the "Company"),
and ____________, (the "Investor").

    

     

     PRELIMINARY
STATEMENT

    

    WHEREAS,
under the Third Agreement Regarding Amendment of Promissory Note between the
Company and the Investor (the "Third
Amendment Agreement") of given date herewith, the Company issued and in
the future will issue warrants (the "Warrants")
to the Investor, and upon exercise of the Warrants the Investor will have the
right to receive Shares (as defined in Section
1.3);

    

    WHEREAS, the ability of the Investor
to sell the Shares is subject to certain restrictions under the Securities Act
of 1933, as amended (the "1933 Act");
and

    

    WHEREAS, the Company has agreed to
provide the Investor with a mechanism that will permit the Investor to sell the
Shares in the future;

    

                  NOW,
THEREFORE, in consideration of the mutual covenants and agreements, and subject
to the terms and conditions contained herein, the parties hereby agree as
follows:

    

    ARTICLE
1

    DEFINITIONS

    

    1.1           "Holder" means any
holder of outstanding Registrable Securities or securities convertible into
Registrable Securities.

    

    1.2           "SEC" means the United
States Securities and Exchange Commission.

    

    1.3           "Shares" means,
collectively, the shares of Common Stock, no par value, of the Company issued or
issuable upon exercise of any of the Warrants.

    

    1.4           "Registrable
Securities" means and includes the Shares.  Shares will cease
to be Registrable Securities when (a) they have been effectively registered
under the 1933 Act and disposed of in accordance with the registration statement
covering them, (b) to the extent they are freely tradable within any three-month
period without registration pursuant to Rule 144 under the 1933 Act (or any
similar provisions that are then in effect), or (c) they have been otherwise
transferred, new certificates for them not bearing a restrictive legend have
been issued by Company, and Company does not have "stop transfer" instructions
against them.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    1.5           "Registration
Expenses" means all expenses incurred by the Company in complying with
its obligations under this Agreement, excluding all underwriting discounts and
selling commissions applicable to Registrable Shares.

    

    

    ARTICLE
2

    DEMAND
REGISTRATION RIGHTS

    

    2.1           Form S-3
Registration.  Beginning on the first day following the day
that is one year after the Company has resumed filing, and has timely filed all
of, the reports required under the 1933 Act, the Securities Exchange Act of 1934
and the rules and regulations adopted by the SEC thereunder, and through the
date all Registrable Securities may be sold by the Investor pursuant to Rule 144
under the 1933 Act, the Company will use its commercially reasonable best
efforts to register the Registrable Securities for resale under the 1933 Act on
Form S-3 (or any applicable successor form).

    

    2.2           Demand
Registration.  Beginning on the first day
following the day that is one year after the Company has resumed filing the
reports required under the 1933 Act, the Securities Exchange Act of 1934 and the
rules and regulations adopted by the SEC thereunder, and prior to the date all
Registrable Securities may be sold by the Investor pursuant to Rule 144 under
the 1933 Act, the Holders of at least two-thirds (2/3rds) of the outstanding
Registrable Securities may request, once and only once, in writing the
registration under the 1933 Act of all of the Registrable Securities then
outstanding.  Notwithstanding the foregoing, the demand registration
rights set forth in this Section 2.2 shall not
be available to the Investor at such time as the Registrable Securities are
registered for resale under Form S-3 (or any successor form) pursuant to Section
2.1.

    

    2.3           Expenses.  The
Company will pay all Registration Expenses in connection with all registrations
under Section
2.1 and
Section
2.2, and the Investor will pay its pro rata portion of the discounts or
commissions payable to any underwriter.

    

    ARTICLE
3

    INCIDENTAL
REGISTRATION RIGHTS

    

    3.1           Right to
Include ("Piggy-Back") Registrable Securities.   Provided
that the Registrable Securities are not then registered, if at any time after
the Closing Date and prior to the date all Registrable Securities may be sold by
the Investor pursuant to Rule 144 under the 1933 Act, the Company proposes to
register any of its securities under the 1933 Act (other than by a registration
which would not permit registration of Registrable Securities for sale to the
public on Form S-8, or any successor form thereto, on Form S-4, or any successor
form thereto and other than pursuant to Article 2) on an
underwritten basis (either best-efforts or firm-commitment), the Company will
each such time give prompt written notice to the Investor of its intention to
register its securities and the Investor's rights under this Section
3.1.  Upon the written request of the Investor made
within fifteen (15) days after the receipt of any such notice from the Company
(which request will specify the Registrable Securities intended to be disposed
of by the Investor and the intended method of disposition thereof), the Company
will, subject to the terms of this Agreement, use its commercially reasonable
best efforts to include such Registrable Securities in the registration
statement which covers the securities which the Company proposes to
register.  The right provided the Investor pursuant to this Section
3.1 will be exercisable at the Investor's sole
discretion.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    3.2           Withdrawal
or Delay of Registration.  If at any time after written notice
of its intention to register any securities and prior to the effective date of
the registration statement filed in connection with such registration the
Company determines for any reason either not to register or to delay
registration of such securities, the Company will give written notice of such
determination to the Investor.  In the case of a determination not to
register, the Company will be relieved of the obligation to register any
Registrable Securities in connection with such registration under Section
3.1 (but
not from its obligation to pay the Registration Expenses in connection
therewith), without prejudice, however, to the Investor's rights to registration
under Section
2.1 and
Section
2.2.  In the case of a determination to delay registering, the
Company will be permitted to delay registering any Registrable Securities, for
the same period as the delay in registering such other
securities.

     

    3.3           Expenses.  The
Company will pay all Registration Expenses in connection with each registration
of Registrable Securities requested pursuant to Section
3.1 and
the Investor will pay its pro rata portion of the discounts or commissions
payable to any underwriter.

     

    3.4           Priority
in Incidental Registrations.  If the managing underwriter of
the underwritten offering contemplated by Section
3.1 informs
the Company and the Investor in writing that the managing underwriter believes
that the number of securities requested to be included in such registration
exceeds the number which can be sold in such offering, then the Company will
include in such registration, up to the number of securities which the Company
is advised by the managing underwriter can be sold in such offering, (i) first,
securities proposed by the Company to be sold for its own account; and (ii)
second, a pro rata portion of the securities for which registration was
requested by the Investor and of all other registrable securities of the Company
of other selling security holders requested to be included in such
registration.

    

    ARTICLE
4

    REGISTRATION
PROCEDURES

    

    4.1           Registration
Procedures.  If and whenever the Company is required to effect
the registration of any Registrable Securities under the 1933 Act as provided in
Section
2.1, Section
2.2 and, as applicable, Section
3.1, the
Company will, as expeditiously as possible:

    

    (a)           prepare
and file with the SEC the registration statement, or amendments thereto, to
effect such registration (including such audited financial statements as may be
required by the 1933 Act or the rules and regulations promulgated thereunder)
and thereafter use its commercially reasonable best efforts to cause such
registration statement to be declared effective by the SEC as soon as
practicable;

    

    (b)           prepare
and file with the SEC such amendments and supplements to such registration
statement and the prospectus used in connection therewith as may be
necessary;

    

    (c)           furnish
to the Investor such number of conformed copies of such registration statement
and of each such amendment and supplement thereto (in each case including all
exhibits), such number of copies of the prospectus contained in such
registration statement (including each preliminary prospectus and any summary
prospectus) and any other prospectus filed under Rule 424 under the 1933 Act, in
conformity with the requirements of the 1933 Act, and such other documents, as
the Investor and underwriter may reasonably request in order to facilitate the
public sale or other disposition of the Registrable Securities owned by the
Investor;

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    (d)           use
its commercially reasonable best efforts to register or qualify all Registrable
Securities and other securities covered by such registration statement under
such other U.S. federal or state securities laws or U.S. state blue sky laws as
the Investor may reasonably request, to keep such registrations or
qualifications in effect for so long as such registration statement remains in
effect, and take any other action which may be reasonably necessary to enable
the Investor to consummate the disposition of the securities owned by the
Investor in such jurisdictions;

    

    (e)           notify
the Investor promptly after the Company has knowledge that:

    

    (i)           the
registration statement, the prospectus or any prospectus supplement related
thereto or post-effective amendment to the registration statement has been
filed, and, with respect to the registration statement or any post-effective
amendment thereto, when the same has become effective;

    

    (ii)           the
SEC has issued any stop order suspending the effectiveness of the registration
statement or the initiation of any proceedings by any Person for that purpose;
or

    

    (iii)           the
Company has received any notification with respect to the suspension of the
qualification of any Registrable Securities for sale under the securities or
blue sky laws of any jurisdiction or the initiation or threat of any proceeding
for such purpose;

    

    (f)           notify
the Investor, at any time when a prospectus relating thereto is required to be
delivered under the 1933 Act, upon discovery that, or upon the happening of any
event as a result of which, the prospectus included in such registration
statement, as then in effect, includes an untrue statement of a material fact or
omits to state any material facts required to be stated therein or necessary to
make the statements therein not misleading in the light of the circumstances
then existing, and, at the request of the Investor promptly prepare and furnish
to the Investor a reasonable number of copies of a supplement to or an amendment
of such prospectus as may be necessary so that, as thereafter delivered to the
purchasers of such securities, such prospectus will 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 the
light of the circumstances then existing;

    

    (g)           use
its commercially reasonable best efforts to obtain the withdrawal of any order
suspending the effectiveness of the registration statement at the earliest
possible moment;

    

    (h)           enter
into such agreements and take such other actions as the Investor reasonably
requests in writing (at the expense of the Investor) in order to expedite or
facilitate the disposition of such Registrable Securities; and

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    (i)           use
its commercially reasonable best efforts to list all Registrable Securities
covered by such registration statement on any securities exchange on which any
of the Registrable Securities are then listed.

    

    The
Company may require the Investor to furnish the Company with information
regarding the Investor and the distribution of such securities.

    

    4.2           Amended
Prospectus.  The Investor agrees that, upon receipt of any
notice from the Company of the occurrence of any event of the kind described in
Section
4.1(f), the
Investor will forthwith discontinue the Investor's disposition of Registrable
Securities pursuant to the registration statement relating to such Registrable
Securities until the Investor's receipt of the copies of the supplemented or
amended prospectus contemplated by Section
4.1(f) and,
if so directed by the Company, will deliver to the Company (at the Company's
expense) all copies, other than permanent file copies, of the prospectus
relating to such Registrable Securities in the Investor's possession at the time
of receipt of such notice.

    

    ARTICLE
5

    UNDERWRITTEN
OFFERINGS

    

    The Investor
may not participate in any underwritten offering under Section
3.1 unless
the Investor (i) agrees to sell its Registrable Securities on the basis provided
in any underwriting arrangements approved, subject to the terms and conditions
hereof, by the Company, and (ii) completes and executes all questionnaires,
indemnities, underwriting agreements and other documents (other than powers of
attorney) required under the terms of such underwriting
arrangements.  Notwithstanding the foregoing, no underwriting
agreement (or other agreement in connection with such offering) will require the
Investor to make a representation or warranty to or agreement with the Company
or the underwriters other than in a writing furnished by the Investor expressly
for use in the related registration statement, regarding the Investor, the
Investor's Registrable Securities, the Investor's intended method of
distribution, and any other representation, warranty or agreement otherwise
required by law.

    

    ARTICLE
6

    INDEMNIFICATION

    

    6.1           Indemnification by the
Company.  In the event of any registration of any Registrable
Securities under the 1933 Act, the Company will, and hereby does agree to
indemnify and hold harmless the Investor, each individual or entity who
participates as an underwriter in the offering or sale of such securities and
each other person, if any, who controls the Investor or any such underwriter
within the meaning of the 1933 Act, against any losses, claims, damages, or
liabilities ("Losses") to which the
Investor or underwriter or controlling person may become subject under the 1933
Act or otherwise, insofar as such Losses (or actions or proceedings, whether
commenced or threatened, in respect thereof) arise out of or are based upon (i)
any untrue statement or alleged untrue statement of any material fact contained
in the registration statement or prospectus, as amended or supplemented, or (ii)
any omission or alleged omission to state therein a material fact required to be
stated therein or necessary to make the statements therein, in the light of the
circumstances in which they are made, not misleading.  The Company
will reimburse the Investor and each such underwriter and controlling person for
any legal or any other expenses reasonably incurred by them in connection with
investigating or defending against any such Loss, provided that the Company will
not be liable in any such case to the extent that any such Loss (or action or
proceeding in respect thereof) or expense arises out of or is based upon an
untrue statement or alleged untrue statement or omission or alleged omission
made in such registration statement, prospectus, amendment or supplement in
reliance upon and in conformity with written information furnished to the
Company by the Investor or underwriter.  Further, the Company will not
be liable to any underwriter in the offering or sale of Registrable Securities
or to any other person, if any, who controls such underwriter within the meaning
of the 1933 Act, to the extent that any such Loss (or action or proceeding in
respect thereof) or expense arises out of such underwriter or controlling
person's failure to send or give a copy of the final prospectus, as the same may
be then supplemented or amended, within the time required by the 1933 Act to the
person or entity asserting the existence of an untrue statement or alleged
untrue statement or omission or alleged omission at or prior to the written
confirmation of the sale of Registrable Securities to such person or entity, if
such statement or omission was corrected in such final prospectus or an
amendment or supplement thereto.  Such indemnity will remain in full
force and effect regardless of any investigation made by or on behalf of the
Investor or any such underwriter or controlling person and will survive the
transfer of such securities by the Investor .

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    
 

    6.2           Indemnification
by the Investor.  The Company may require, as a condition to
including any Registrable Securities in any registration statement filed
pursuant to this Agreement, that the Investor provide an undertaking
satisfactory to the Company that the Investor will indemnify and hold harmless
(in the same manner and to the same extent as set forth in Section
6.1) the
Company, each director of the Company, each officer of the Company and each
other person, if any, who controls the Company within the meaning of the 1933
Act, with respect to any statement or alleged statement in or omission or
alleged omission from such registration statement or prospectus, or any
amendment or supplement thereto, if such statement or omission or alleged
statement or omission was made in reliance upon and in conformity with written
information furnished to the Company through an instrument duly executed by the
Investor specifically stating that it is for use in the preparation of such
registration statement, prospectus, amendment or supplement.  Any such
indemnity will remain in full force and effect, regardless of any investigation
made by or on behalf of the Company or any such director, officer or controlling
person and will survive the transfer of such securities by the
Investor.  The liability of the Investor under this Section
6.1 will
be limited to the net proceeds from the offering received by the
Investor.

    

    6.3           Notices
of Claims, Etc.  Promptly after receipt by an indemnified party
of notice of the commencement of any action or proceeding involving a claim
referred to in Section
6.1 or
Section
6.2, such
indemnified party will give written notice to the indemnifying party of the
commencement of such action.  The failure of any indemnified party to
give notice as provided herein will not relieve the indemnifying party of its
obligations under Section
6.1 or
Section
6.2, except to
the extent that the indemnifying party is actually prejudiced by such failure to
give notice.  In case any such action is brought against an
indemnified party, unless in such indemnified party's reasonable judgment a
conflict of interest between such indemnified and indemnifying parties may exist
in respect of such claim, the indemnifying party will be entitled to participate
in and to assume the defense thereof, jointly with any other indemnifying party
similarly notified, to the extent that the indemnifying party may wish, with
counsel reasonably satisfactory to such indemnified party.  After
notice from the indemnifying party to such indemnified party of its election so
to assume the defense thereof, the indemnifying party will not be liable to such
indemnified party for any legal or other expenses subsequently incurred by the
indemnified party in connection with the defense thereof.  No
indemnifying party will, without the consent of the indemnified party, consent
to entry of any judgment or enter into any settlement of any such action which
does not include as an unconditional term thereof the giving by the claimant or
plaintiff to such indemnified party of a release from all liability, or a
covenant not to sue, in respect to such claim or litigation.  No
indemnified party will consent to entry of any judgment or enter into any
settlement of any such action the defense of which has been assumed by an
indemnifying party without the consent of such indemnifying
party.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    6.4           Other
Indemnification.  Indemnification similar to that specified in
Section
6.1 and
Section
6.2 (with
appropriate modifications) will be given by the Company and the Investor (but
only if and to the extent required pursuant to the terms herein) with respect to
any required registration or other qualification of securities under any Federal
or state law or regulation of any governmental authority other than the 1933
Act.

     

    6.5           Indemnification
Payments.  The indemnification required by Sections
6.1 and
6.2 will
be made by periodic payments of the amount thereof during the course of the
investigation or defense, as and when bills are received or expense, loss,
damage or liability is incurred.

     

    6.6           Contribution.  If
recovery is not available under the foregoing indemnification provisions, for
any reason other than as specified therein, the parties entitled to
indemnification by the terms thereof will be entitled to contribution to
liabilities and expenses as more fully set forth in an underwriting agreement to
be executed in connection with such registration.  In determining the
amount of such contribution to which the respective parties are entitled, there
will be considered the parties' relative knowledge and access to information
concerning the matter with respect to which the claim was asserted, the
opportunity to correct and prevent any statement or omission, and any other
equitable considerations appropriate under the circumstances.  No
person or entity guilty of fraudulent misrepresentation will be entitled to
contribution from any person or entity that was not guilty of such fraudulent
misrepresentation.

    

    ARTICLE
7

    RULE
144

    

    After the
Closing Date, the Company will use commercially reasonable efforts to obtain
financing and resume filing the reports required under the 1933 Act, the
Securities Exchange Act of 1934, and the rules and regulations adopted by the
SEC thereunder. Upon such resumption of filing, the Company will use
commercially reasonable best efforts to timely file the reports required to be
filed by it under the 1933 Act, the Securities Exchange Act of 1934, and the
rules and regulations adopted by the SEC thereunder to the extent required from
time to time to enable such Holder to sell Registrable Securities without
registration under the 1933 Act within the limitation of the exemptions provided
by (a) Rule 144 under the 1933 Act, as such Rule may be amended from time to
time, or (b) any similar rule or regulation hereafter adopted by the
SEC.  Upon the written request of the Investor, the Company will
deliver to the Investor a written statement as to whether it has complied with
the requirements of this Article
7.

    

    ARTICLE
8

    MISCELLANEOUS

    

    8.1           Amendments
and Waivers.  This Agreement may be amended and 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 will have obtained the approval of such
amendment, action or omission to act, by the vote or consent, either in writing
or at a meeting, of holders of at least two-thirds (2/3rds) of the Registrable
Securities issued and issuable at such time.  Each holder of any
Registrable Securities at the time or thereafter outstanding will be bound by
any consent authorized by this Section
8.1, whether or
not such Registrable Securities will have been marked to indicate such
consent.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    8.2           Notices. Except
as otherwise provided in this Agreement, all notices, requests and other
communications provided for hereunder will be in writing and will be delivered
to:

    

    (a)           The
Company at:

    

    microHelix,
Inc.

    P.O. Box
1030

    Tualatin,
OR 97062

    Attn:  President

    

    with a
copy to:

    

    Tonkon
Torp LLP

    888 SW
Fifth Avenue, Suite 1600

    Portland,
OR 97204

    Fax (503)
972-3743

    Attn:  Kurt
W. Ruttum

    

    (b)           Each
holder of Registrable Securities at such address shown in the Company's records,
or, until any such holder furnishes an address to the Company, to and at the
address of the last holder of such Registrable Securities for which the Company
has an address in its records.

    

    Each such
notice, request or other communication will be in writing and may be personally
delivered (effective upon receipt), mailed, postage prepaid (effective three
business days after dispatch), sent by facsimile (effective upon receipt of the
facsimile in complete, readable form), or sent via a reputable overnight courier
service (effective the following business day), to the address specified
above.

    

    8.3           Assignment.  This
Agreement will be binding upon and inure to the benefit of the parties hereto,
their heirs, personal representatives, successors, and assigns.  Each
holder of Registrable Securities agrees, by accepting any portion of the
Registrable Securities after the date hereof, to the provisions of this
Agreement.

    

    8.4           Headings.  The
descriptive headings of the several sections of this Agreement are inserted for
reference only and will not be used to construe or interpret this
Agreement.

    

    8.5           Governing Law;
Jurisdiction.  This Agreement will be deemed a contract made
under the laws of the State of Oregon and, together with the rights and
obligations of the parties hereunder, will be construed under and governed by
the laws of such State, without giving effect to principles of conflicts of
law.  The parties hereto irrevocably submit to the jurisdiction of any
state or federal court sitting in Multnomah County, Oregon, in any action or
proceeding brought to enforce or otherwise arising out of or relating to this
Agreement, and hereby waive any objection to venue in any such court and any
claim that such forum is an inconvenient forum.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    
 

    8.6           Waiver of Jury Trial;
Attorney Fees.  Each party irrevocably waives any right it may
have, and agrees not to request, a jury trial for the adjudication of any
dispute hereunder or in connection herewith or arising out of this Agreement or
any transaction contemplated hereby.  In the event suit or action is
brought by any party under this Agreement to enforce any of its terms, or in any
appeal therefrom, it is agreed that the prevailing party will be entitled to
reasonable attorneys fees to be fixed by the arbitrator, trial court, and/or
appellate court.

    

    8.7           Entire
Agreement.  This Agreement sets forth the understanding of the
parties with respect to the subject matter of this Agreement and supersedes all
prior agreements and understandings, whether written or oral, between the
parties with respect to such subject matter.

    

    8.8           Severability.  Each
provision of this Agreement will be treated as a separate and independent
clause, and the unenforceability of any one clause will in no way impair the
enforceability of any of the other clauses.  Moreover, if one or more
of the provisions contained in this Agreement will, for any reason, be held to
be excessively broad as to scope, activity, or subject so as to be unenforceable
at law, such provision or provisions will be construed by the appropriate
judicial body by limiting and reducing it or them, so as to be enforceable to
the maximum extent compatible with the applicable law as it will then
appear.

    

    8.9           Failure or Indulgence Not
Waiver; Remedies Cumulative.  No failure or delay on the part
of any party hereto in the exercise of any right hereunder will impair such
right or be construed to be a waiver of, or acquiescence in, any breach of any
representation, warranty, covenant or agreement herein, nor will any single or
partial exercise of any such right preclude other or further exercise thereof or
of any other right.  All rights and remedies existing under this
Agreement are cumulative to, and not exclusive of, any rights or remedies
otherwise available.

    

    8.10           Time is of the
Essence.  Time is of the essence for each and every provision
of this Agreement.

    

    8.11           Injunctive
Relief.  The parties agree that a breach or violation of this
Agreement will result in immediate and irreparable harm to the non-breaching
parties in an amount that will be impossible to ascertain at the time of the
breach or violation, and that the award of monetary damages will not be adequate
relief to the non-breaching parties.  The non-breaching party will be
entitled to seek equitable or injunctive relief, in addition to other remedies
to which it may be entitled at law or equity.  In any action for
equitable relief, the parties agree to waive any requirement for the posting of
a bond or security.

    

    8.12           Counterparts.  This Agreement may be
executed in one or more counterparts, each of which when executed will be deemed
to be an original, but all of which taken together will constitute one and the
same agreement.  A facsimile transmission of this signed Agreement
will be legal and binding on all parties hereto.

     

    IN WITNESS WHEREOF, the Company and the
Investor have executed this Agreement as of the day and year first above
written.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          	 	MICROHELIX,
    INC.	 
	 	 	 	 
	
                                                   

                                                	
                                                  By
      

                                                	 	 
	 	 	James
      E. Horswill, President and CFO	 
	 	 	 	 

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    

     

    
      
        
        

      

      
        10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}]]