Document:

ex10_1.htm

    
      

    

    NANOVIRICIDES,
      INC.

    

    

    INVESTORSUBSCRIPTION
      AGREEMENT (the "Subscription Agreement") dated September 21, 2007,
      between NANOVIRICIDES, INC., a Nevada corporation (the
      "Company") and the person or persons executing this Agreement on the last page
      (the "Subscriber").  All documents mentioned herein are incorporated
      by reference.

    

    1.
      Description of the Offering.  This Subscription
      Agreement is for shares (the “Shares”) of the Company’s common stock, par value
      $.001 per share (the “Common Stock”) and warrants (the “Warrants”) to purchase
      shares of Common Stock.  This Offering (the “Offering”) is being made
      only to accredited investors who qualify as accredited investors pursuant to
      the
      suitability standards for investors described under Regulation D of the
      Securities Act of 1933, as amended (the “Securities Act”) and who have no need
      for liquidity in their investments.  The Offering is for a minimum
      investment of $250,000.00. However, the Company reserves the right, in their
      sole discretion, to accept fractional subscriptions.  Prior to this
      Offering there was no public market for the `Shares or the Warrants and no
      assurance can be given that a market will develop for the Shares or the Warrants
      or, if developed, that it will be maintained so that any subscribers in this
      Offering may avail any benefit from the same.

    

    THE
      SECURITIES OFFERED HEREBY ARE SPECULATIVE AND INVOLVE A HIGH DEGREE OF RISK
      AND
      SHOULD NOT BE PURCHASED BY ANYONE WHO CANNOT AFFORD THE LOSS OF THEIR ENTIRE
      INVESTMENT.  THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED
      UNDER THE SECURITIES ACT, OR THE SECURITIES LAWS OF ANY STATE, OR OTHER
      JURISDICTION AND ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTION FROM THE
      REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND SUCH LAWS. THESE SECURITIES
      MAY NOT BE TRANSFERRED, SOLD, PLEDGED, HYPOTHECATED OR ASSIGNED EXCEPT AS
      PERMITTED UNDER SUCH ACT OR SUCH LAWS PURSUANT TO REGISTRATION OR EXEMPTION
      THEREFROM.

    

    2.  Terms
      of the
      Subscription.  This Offering is made in connection with a
      Confidential Offering Memorandum (the “Memorandum”) which is incorporated by
      reference and made a part of this Subscription Agreement.   The
      subscription is for shares of the Company's Common Stock at a purchase price
      of
      $0.50 per Share, plus warrants to purchase 0.30 shares of Common Stock at an
      exercise price of $1.00 per share.  The form of the Warrant is
      attached to the Memorandum as Appendix “A”.

    

    3.
      Other Terms of the Offering. The execution of this
      Subscription Agreement shall constitute an offer by the Subscriber to subscribe
      for the Shares and the Warrants in the amount and on the terms specified
      herein.  The Subscriber must also complete and execute the Subscriber
      Questionnaire attached hereto.  The Company reserves the right, in its
      sole discretion, to reject in whole or in part, any subscription
      offer.  If the Subscriber's offer is accepted, the Company will
      execute a copy of this Subscription Agreement and return it to
      Subscriber.  The Company may, at its sole discretion, accept
      fractional subscriptions.

    

    4.  Subscription
      Payment.  Subscription for the Shares requires a total cash
      investment of $250,000.00.  The subscription price will be payable in
      full upon acceptance of the subscription.  The Company reserves the
      right to accept fractional subscriptions.

    

    5.  The
      Company's
      Representations and Warranties. The Company hereby represents and
      warrants as follows:

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    (a)           The
      Company is a corporation duly formed and in good standing under the laws of
      the
      State of Nevada with full power and authority to conduct its business as
      presently contemplated;

    

    (b)           The
      Company warrants and covenants that there are no material misstatements or
      omissions in this Subscription Agreement or any information provided of the
      Offering documents herein; and

    

    (c)           The
      Company has the power to execute, deliver and perform this Subscription
      Agreement and any other agreement contemplated herein;

    

    6.  Subscriber's
      Representations, Warranties and Covenants.  The undersigned
      understands and acknowledges that the Shares, the Warrants and the Common Stock
      underlying same subscribed for herein (the “Securities”) are being offered and
      sold under one or more of the exemptions from registration provided for in
      Section 3(b), 4(2) and 4(6) of the Securities Act including, Regulation D
      promulgated thereunder, that the undersigned acknowledges that the Securities
      are being purchased without the undersigned being offered or furnished any
      offering literature, prospectus or other material, financial or otherwise,
      and
      that this action has not been scrutinized by the United States Securities and
      Exchange Commission or by any regulatory authority charged with the
      administration of the securities laws of any state.  The undersigned
      hereby further represents and warrants as follows:

    

    (a)           The
      undersigned confirms that he understands and has fully considered, for purposes
      of this investment, the risks of an investment in the Securities and understands
      that:  (i) this investment is suitable only for an investor who is
      able to bear the economic consequences or losing his entire investment, (ii)
      the
      purchase of the Securities is a speculative investment which involves a high
      degree of risk of loss by the undersigned of his entire investment, and (iii)
      that there will be no public market for the Securities and the Common Stock
      thereunder and accordingly, it may not be possible for the undersigned to
      liquidate an investment in the Securities in case of an emergency.

    

    (b)   The
      Subscriber is an
      "Accredited Investor" as defined in Rule 501(a) of Regulation D under the
      Securities Act.  This representation is based on the fact that the
      Subscriber, inter alia, is an accredited individual who, together with the
      Subscriber’s spouse, have a net worth of at least $1,000,000 or the Subscriber,
      individually, has had net income of not less than $200,000 during the last
      two
      years, and reasonably anticipates that the Subscriber will have an income of
      at
      least $200,000 during the present year and the next year;

    

    (c)    If
      the Subscriber is a
      corporation, partnership, trust or any unincorporated association: (i) the
      person executing this Subscription Agreement does so with full right, power
      and
      authority to make this investment; (ii) that such entity was not formed for
      the
      specific purpose of making an investment in the Company; and (iii) that all
      further representations and warranties made herein are true and correct with
      respect to such corporation, partnership, trust and unincorporated
      association;

    

    (d)   The
      address set forth below
      is the Subscriber's true and correct residence or place of business, and the
      Subscriber has no present intention of becoming a resident of any other state
      or
      jurisdiction;

    

    (e)   The
      Subscriber
      understands and agrees that the Company prohibits the investment of funds by
      any
      persons or entities that are acting, directly or indirectly, (i) in
      contravention of any U.S. or international laws and regulations, including
      anti-money laundering regulations or conventions, (ii) on behalf of terrorists
      or terrorist organizations, including those persons or entities that are
      included on the List of Specially Designated Nationals and Blocked Persons
      maintained by the U.S. Treasury Department's Office of Foreign Assets
      Control1 ("OFAC"), as such list may be amended from time to time,
      (iii) for a senior foreign political figure, any member of a senior foreign
      political figure’s immediate family or any close associate of a senior foreign
      political figure2, unless the Company, after being specifically
      notified by the Subscriber in writing that it is such a person, conducts further
      due diligence, and determines that such investment shall be permitted, or (iv)
      for a foreign shell bank3 (such persons or entities in (i) – (iv) are
      collectively referred to as "Prohibited Persons").

     

    
      
        
          
            
            

          

          
            2

            
              

            

          

          
            
            

          

        

      

       

    

    (f)           The
      Subscriber represents, warrants and covenants that: (i) it is not, nor is any
      person or entity controlling, controlled by or under common control with the
      Subscriber, a Prohibited Person, and (ii) to the extent the Subscriber has
      any
      beneficial owners4, (a) it has carried out thorough due diligence to
      establish the identities of such beneficial owners, (b) based on such due
      diligence, the Subscriber reasonably believes that no such beneficial owners
      are
      Prohibited Persons, (c) it holds the evidence of such identities and status
      and
      will maintain all such evidence for at least five years from the date of the
      Subscriber's complete withdrawal from the Company, and (d) it will make
      available such information and any additional information requested by the
      Company that is required under applicable regulations.

    

    (g)           If
      any of the foregoing representations, warranties or covenants cease to be true
      or if the Company no longer reasonably believes that it has satisfactory
      evidence as to their truth, notwithstanding any other agreement to the contrary,
      the Company may, in accordance with applicable regulations, freeze the
      Subscriber's investment, either by prohibiting additional investments, declining
      or suspending any withdrawal requests and/or segregating the assets constituting
      the investment, or the Subscriber's investment may immediately be involuntarily
      withdrawn by the Company, and the Company may also be required to report such
      action and to disclose the Subscriber's identity to OFAC or other
      authority.  In the event that the Company is required to take any of
      the foregoing actions, the Subscriber understands and agrees that it shall
      have
      no claim against the Company, and its respective affiliates, directors, members,
      partners, shareholders, officers, employees and agents for any form of damages
      as a result of any of the aforementioned actions.

    

    (h)           The
      Subscriber agrees to indemnify and hold harmless the Company, its respective
      affiliates, directors, members, partners, shareholders, officers, employees
      and
      agents from and against any and all losses, liabilities, damages, penalties,
      costs, fees and expenses (including legal fees and disbursements) which may
      result, directly or indirectly, from any inaccuracy in or breach of any
      representation, warranty, covenant or agreement set forth in this
      Agreement.

    

      

    

    
      
        1           The
          OFAC list may be accessed on the web at http://www.treas.gov/ofac.

        2           Senior
          foreign political figure means a senior official in the executive, legislative,
          administrative, military or judicial branches of a foreign government (whether
          elected or not), a senior official of a major foreign political party,
          or a
          senior executive of a foreign government-owned corporation.  In
          addition, a senior foreign political figure includes any corporation, business
          or other entity that has been formed by, or for the benefit of, a senior
          foreign
          political figure.  The immediate family of a senior foreign political
          figure typically includes the political figure’s parents, siblings, spouse,
          children and in-laws.  A close associate of a senior foreign political
          figure is a person who is widely and publicly known internationally to
          maintain
          an unusually close relationship with the senior foreign political figure,
          and
          includes a person who is in a position to conduct substantial domestic
          and
          international financial transactions on behalf of the senior foreign political
          figure.

        3           Foreign
          shell bank means a foreign bank without a physical presence in any country,
          but
          does not include a regulated affiliate.  A post office box or
          electronic address would not be considered a physical presence.  A
          regulated affiliate means a foreign shell bank that: (1) is an affiliate
          of a
          depository institution, credit union, or foreign bank that maintains a
          physical
          presence in the United States or a foreign country, as applicable; and
          (2) is
          subject to supervision by a banking authority in the country regulating
          such
          affiliated depository institution, credit union, or foreign bank.

        4           Beneficial
          owners will include, but not be limited to: (i) shareholders of a corporation;
          (ii) partners of a partnership; (iii) members of a limited liability company;
          (iv) investors in a fund-of-funds; (v) the grantor of a revocable or grantor
          trust; (vi) the beneficiaries of an irrevocable trust; (vii) the individual
          who
          established an IRA; (viii) the participant in a self-directed pension plan;
          (ix)
          the sponsor of any other pension plan; and (x) any person being represented
          by
          the Subscriber in an agent, representative, intermediary, nominee or similar
          capacity.  If the beneficial owner is itself an entity, the
          information and representations set forth herein must also be given with
          respect
          to its individual beneficial owners.  If the Subscriber is a
          publicly-traded company, it need not conduct due diligence as to its beneficial
          owners.

      

      

        
          
            
            

          

          
            3

            
              

            

          

          
            
            

          

        

      

       

    

    (i)
      The Subscriber has received and
      read or reviewed, is familiar with and fully understands the documents furnished
      by the Company.  The Subscriber also fully understands this
      Subscription Agreement and the risks associated with this interest and confirms
      that all documents, records and books pertaining to the Subscriber’s investment
      in the Securities and requested by the Subscriber have been made available
      or
      delivered to the Subscriber by the Company;

    

    (j)
      The Subscriber has had an
      opportunity to ask questions of and receive answers from, the Company or a
      person or persons acting on its behalf, concerning the terms and conditions
      of
      this investment and confirms that all documents, records and books pertaining
      to
      the investment in the Securities and requested by the Subscriber has been made
      available or delivered to the Subscriber;

    

    (k)
      The Subscriber will be acquiring
      the Securities, and the shares of Common Stock underlying the Securities, solely
      for the Subscriber's own account, for investment and not with a view toward
      the
      resale, distribution, subdivision or fractionalization thereof; and the
      Subscriber has no present plans to enter into any such contract, undertaking,
      agreement or arrangement;

    

    (l)
      The Subscriber acknowledges and
      understands that prior to this Offering there was no public market for the
      Securities and no assurance can be given that a public market will develop
      for
      the Securities offered hereby, or if developed, that it will be maintained
      so
      that any subscribers in this Offering may avail any benefit from the
      same;

    

    (m)
      The Subscriber's compliance with
      the terms and conditions of this Subscription Agreement will not conflict with
      any instrument or agreement pertaining to the Securities or the transactions
      contemplated herein; and will not conflict in, result in a breach of, or
      constitute a default under any instrument to which the Subscriber is a
      party;

    

    (n)
      The Subscriber will seek its own
      legal, tax and investment advice concerning tax implications attendant upon
      the
      purchase of the Securities and understands and accepts that the Company is
      relying upon this representation insofar as disclosure of tax matters is
      concerned;

    

    (o)
      The Subscriber hereby acknowledges
      and represents that the Subscriber is aware of the information set forth in
      this
      document and in any exhibits attached hereto; and

    

    (p)
      The foregoing representations and
      warranties are true and accurate as of the date hereof and shall be true and
      accurate as of the date of delivery of the subscription to the Company and
      shall
      survive such delivery.  If, in any respect, such representations and
      warranties shall not be true and accurate, the Subscriber shall give written
      notice of such fact to the Company, specifying which representations and
      warranties are not true and accurate and the reasons therefor.

    

    7.  Risk
      Factors.  THE SUBSCRIBER ACKNOWLEDGES THAT THERE ARE SIGNIFICANT RISKS
      ASSOCIATED WITH THE PURCHASE OF THE SHARES AND THAT SUCH SECURITIES ARE HIGHLY
      SPECULATIVE AND SHOULD NOT BE PURCHASED BY ANYONE WHO CANNOT AFFORD A TOTAL
      LOSS
      OF HIS OR HER ENTIRE INVESTMENT. The Subscriber represents and warrants
      that he or she has carefully considered and reviewed all the information
      contained within the reports the Company files with the Securities and Exchange
      Commission (available at www.sec.gov) and the risk factors set forth in
      the Memorandum, which, along with the Company's filings,  are hereby
      incorporated by reference in reaching a determination to purchase the
      Securities.

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    8.   
      Responsibility.  The Company or its officers and
      directors shall not be liable, responsible or accountable for damages or
      otherwise to any Subscriber for any act or omission performed or omitted by
      them
      in good faith and in a manner reasonably believed by them to be within the
      scope
      of the authority granted to them by this Subscription Agreement and in the
      best
      interests of the Company, provided they were not guilty of gross negligence,
      willful or wanton misconduct, fraud, bad faith or any other breach of fiduciary
      duty with respect to such acts or omissions.

    

    9.   
      Miscellaneous.

    

    (a)
      The Company and the Subscriber
      hereby covenant that this Subscription Agreement is intended to and does contain
      and embody herein all of the understandings and agreements, both written or
      oral, of the Company and the Subscriber with respect to the subject matter
      of
      this Subscription Agreement, and that there exists no oral agreement or
      understanding, express or implied liability, whereby the absolute, final and
      unconditional character and nature of this Subscription Agreement shall be
      in
      any way invalidated, empowered or affected.  There are no
      representations, warranties or covenants other than those set forth
      herein.

    

    (b)
      The headings of this Subscription
      Agreement are for convenient reference only and they shall not limit or
      otherwise affect the interpretation or effect of any terms or provisions
      hereof.

    

    (c)
      This Subscription Agreement shall
      not be changed or terminated except as set forth herein.  All of the
      terms and provisions of this Subscription Agreement shall be binding upon and
      inure to the benefit of and be enforceable by and against the successors and
      assigns of the Company and the heirs, executors, administrators and assigns
      of
      the Subscriber.

    

    (d)
      A modification or waiver of any of
      the provisions of this Subscription Agreement shall be effective only if made
      in
      writing and executed with the same formality as this Subscription
      Agreement.  The failure of either the Company or the Subscriber to
      insist upon strict performance of any of the provisions of this Subscription
      Agreement shall not be construed as a waiver of any subsequent default of the
      same or similar nature, or of any other nature or kind.

    

    (e)
      The various provisions of this
      Subscription Agreement are severable from each other and from the other
      provisions of this Agreement, and in the event that any provision in this
      Subscription Agreement shall be held invalid or unenforceable by a court of
      competent jurisdiction, the remainder of this Subscription Agreement shall
      be
      fully effective, operative and enforceable.

    

    (f)
      Pronouns used herein are to be
      interpreted as referring to both the masculine and feminine gender.

    

    (g)
      This Subscription Agreement shall
      be construed and interpreted in accordance with the laws of the State of Nevada
      without reference to conflict of laws principle.  The parties agree
      that in the event of a laws controversy arising out of the interpretation,
      construction, performance or breach of this Subscription Agreement, any and
      all
      claims arising out of, or relating to, this Subscription Agreement shall be
      submitted by arbitration according to the Commercial Arbitration Rules of the
      American Arbitration Association located in New York City before a single
      arbitrator.  Notwithstanding the prior sentence, any other action
      commenced by either party herein shall be venued in the appropriate court of
      competent jurisdiction located in the county of New York, State of New
      York.

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    (h)
      This Subscription Agreement may be
      executed in one or more counterparts each of which shall be deemed an original
      and all of which together shall be deemed to be one and the same
      instrument.

    

    THE
      SUBSCRIBER ACKNOWLEDGES THAT,
      EXCEPT AS SET FORTH IN THIS AGREEMENT, NO REPRESENTATIONS OR WARRANTIES HAVE
      BEEN MADE TO IT, OR TO ITS ADVISORS, BY THE COMPANY, OR BY ANY PERSON ACTING
      ON
      BEHALF OF THE COMPANY, WITH RESPECT TO THE INTERESTS, THE PROPOSED BUSINESS
      OF
      THE COMPANY, THE DEDUCTIBILITY OF ANY ITEM FOR TAX PURPOSES, AND/OR THE
      ECONOMIC, TAX, OR ANY OTHER ASPECTS OR CONSEQUENCES OF A PURCHASE OF AN INTEREST
      AND/OR ANY INVESTMENT IN THE COMPANY, AND THAT IT HAS NOT RELIED UPON ANY
      INFORMATION CONCERNING THE OFFERING, WRITTEN OR ORAL, OTHER THAN THAT CONTAINED
      IN THIS AGREEMENT.

    

    

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      rest of this page left intentionally left
      blank.------------------

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    SIGNATURE
      PAGE

    

    The
      Subscriber hereby offers to purchase and subscribe to 1,500,000 Shares and
      450,000 Warrants and encloses payment of $750,000.00 for an aggregate investment
      of $750,000.00.

     

    
      	 	/s/
              Rajni Narasi
	 	
              Signature
                of Subscriber

            
	 	 
	 	 
	 	DKR
              Saturn Event Driver Holding Fund, Ltd.
	 	
              Name
                of Subscriber

            
	 	 
	 	 
	 	
              Rajni
                Narasi - Authorized Signatory

            
	 	
              Name
                and Title of Authorized Signatory

            
	 	
               (If
                Applicable)

            
	 	 
	 	 
	 	
               

            
	 	
               (Print)
                Street Address - Residence

            
	 	 
	 	 
	 	
               

            
	 	
               (Print)
                City, State and Zip Code

            
	 	 
	 	
               

            
	 	
              Social
                Security/Taxpayer I.D. Number:

            

    

     

     

    AGREED
      TO AND ACCEPTED:

    

    As
      of
      September 21, 2007

    

    NANOVIRICIDES,
      INC.

    

    

    
      	
              By:

            	/s/
              Eugene Seymour	 
	 	
              Eugene
                Seymour

            	 
	 	
              Chief
                Executive Officer

            	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    COMPLETE
      “SUBSCRIBER QUESTIONNAIRE” BELOW;

    PROVIDE
      REQUISITE ADDITIONAL INFORMATION

    

    SUBSCRIBER
      QUESTIONNAIRE

    

    

    PERSONAL
      DATA.

    

    
      	DKR
              Saturn Event Driver Holding Fund, Ltd.	 	 
	
              Full
                Name

            	 	
              Telephone
                (Area Code Number)

            
	 	 	(203)
              324-8400
	 	 	
              Business
                Telephone (Area Code Number)

            
	 	 	 
	 	 	 
	1281
              E. Main Street, Stamford, CT 06902	 	 
	
              Residence
                or Principal Address (Street/City/State/Zip Code)

            	 	
              Birth
                Date

            
	 	 	 
	 	 	Bermuda
              Corp.
	
              Mailing
                Address (if other than residence)

            	 	
              Citizenship
                (U.S./Other)

            
	 	 	 
	 	 	 
	
              Marital
                Status

            	 	
              Social
                Security/Taxpayer I.D.  Number

            
	 	 	 
	 	 	 
	
              Spouse’s
                Full Name

            	 	
              E-mail
                Address

            
	 	 	 
	 	 	 
	
              Spouse’s
                Social Security Number

            	 	
              Facsimile
                Number (Area Code/Number)

            

    

    

    ACCREDITED
      INVESTOR.  If Subscriber (or the entity on behalf of which
      Subscriber is acting) is an “accredited investor” as that term is defined in
      Rule 501(a) of Regulation D promulgated under the Act, and, as such, falls
      within at least one of the following categories, then please
INITIAL each applicable
      category.

    

    
      	
              ______

            	
              (a)

            	
              A
                bank or savings and loan association or other institution (acting
                either
                in an individual or fiduciary capacity), registered broker-dealer,
                insurance company, registered investment company, or business development
                company, or licensed “small business investment company,” or an employee
                benefit plan which either is represented in a fiduciary capacity
                by a
                bank, savings and loan association, insurance company or registered
                investment advisor, has total assets in excess of $5,000,000 or is
                self-directed and the plan’s business investments are made solely by
                accredited investors.

            

    

    

    
      	
              ____

            	
              (b)

            	
              A
                trust (i) with total assets in excess of $5,000,000, (ii) which was
                not
                formed for the specific purpose of acquiring the subject securities,
                and
                (iii) whose purchase is directed by a person who has such knowledge
                and
                experience in financial and business matters as to be capable of
                evaluating the merits and risks of the prospective
                investment.

            

    

    

    
      	
              __X___

            	
              (c)

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

            

    

    

    
      	
              ______

            	
              (d)

            	
              An
                entity in which all of the equity owners are “accredited
                investors.”

            

    

    

    
      	
              ______

            	
              (e)

            	
              A
                director or an executive officer of the
                Company.

            

    

    

    
      	
              ______

            	
              (f)

            	
              A
                natural person whose individual net worth, or joint net worth with
                spouse
                (if any), exceeds $1,000,000

            

    

    

    
      	
              ______

            	
              (g)

            	
              A
                natural person whose income in each of the two most recent calendar
                years
                exceeded $200,000 individually, or $300,000 jointly with spouse (if
                any),
                and who reasonably expects to reach that income level in the current
                year.ex10_2.htm

    
      

    

    REGISTRATION
      RIGHTS AGREEMENT

    

    This
      Registration Rights Agreement
      (this "Agreement") is made this 21st day of September, 2007, by NANOVIRICIDES,
      INC., a publicly-owned Nevada corporation (the "Company") and each of the
      Purchasers set forth on the signature page hereto (individually a "Purchaser"
      and collectively, the "Purchasers").

    

    A.           In
      connection with the Subscription Agreement by and among the parties hereto
      of
      even date herewith (the “Subscription Agreement”), the Company has agreed, upon
      the terms and subject to the conditions contained therein, to issue and sell
      to
      the Purchasers (i) 1,500,000 shares (the "Shares") of the Company’s common
      stock, par value $0.001 per share (the “Common Stock”) and (ii) warrants (the
“Warrants”) to acquire an aggregate of 450,000 shares of Common Stock, upon the
      terms and conditions and subject to the limitations and conditions set forth
      in
      the Warrants; and

     

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

     

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

     

    1.   Certain
      Definitions.  As used in this Agreement, the following terms shall
      have the following respective meanings:

    

    (a)  "Commission"
      shall mean
      the Securities and Exchange Commission or any other federal agency at the time
      administering the Securities Act.

    

    (b)  "Common
      Stock" shall
      mean the common stock, no par value, of the Company.

    

    (c)  "Form
      S-1. Form SB-1.
      Form S-2. Form SB-2 and Form S-3" shall mean Form S-1, Form SB-1, Form S-2,
      Form
      SB-2 or Form S-3, respectively, promulgated by the Commission or any
      substantially similar or successor form then in effect.

    

    (d)  The
      terms "Register,"
      "Registered" and "Registration" refer to a registration effected by preparing
      and filing a Registration Statement in compliance with the Securities Act,
      and
      the declaration or ordering of the effectiveness of such Registration
      Statement.

    

    (e)  "Registrable
      Securities"
      shall mean the Shares and the shares of Common Stock underlying the exercise
      of
      the Warrants until such time as such shares become eligible for sale under
      subparagraph (k) of Rule 144 or any successor thereto.

    

    (f)  "Registration
      Expenses"
      shall mean all expenses incurred by the Company in complying with Section 2,
      including, without limitation, all federal and state registration, qualification
      and filing fees, printing expenses, fees and disbursements of counsel for the
      Company, blue sky fees and expenses, the expense of any special audits incident
      to or required by any such Registration and the reasonable fees and
      disbursements of counsel for the Purchasers, as selling
      shareholders.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (g)  "Registration
      Statement"
      shall mean Form S-1, Form SB-1, Form S-2, Form SB-2 or Form S-3, whichever
      is
      applicable.

    

    (h)  "Restriction
      Termination
      Date" shall mean, with respect to any Registrable Securities, the earliest
      of
      (i) the date that such Registrable Securities shall have been Registered and
      sold or otherwise disposed of in accordance with the intended method of
      distribution by the seller or sellers thereof set forth in the Registration
      Statement covering such securities or transferred in compliance with Rule 144,
      and (ii) the date that an opinion of counsel to the Company containing
      reasonable assumptions (which opinion shall be subject to the reasonable
      approval of counsel to any affected Purchaser) shall have been rendered to
      the
      effect that any restrictive legend placed upon the Registrable Securities under
      the Securities Act can be properly removed and such legend shall have been
      removed.

    

    
      	
               

            	
              (i)

            	
              "Rule
                144" shall mean Rule 144 promulgated by the Commission  pursuant
                to the Securities Act and any successor rules
                thereto.

            

    

    

    
      	
               

            	
              (j)

            	
              "Purchasers"
                shall mean, collectively, the Purchasers, their assignees and transferees,
                and individually, a Purchaser and any transferee or assignee of such
                Purchaser.

            

    

    

    

    
      	
               

            	
              (k)

            	
              "Securities
                Act" shall mean the Securities Act of 1933, as
                amended.

            

    

    

    
      	
               

            	
               (l)

            	
              "Selling
                Expenses" shall mean all underwriting discounts and selling commissions
                applicable to the sale of Registrable Securities pursuant to this
                Agreement.

            

    

    

    
      	
               

            	
              (m)

            	
              “Shares"
                shall mean the Common Stock issued to the Purchasers pursuant to
                the
                Subscription Agreement and the various Warrant
                agreements.

            

    

    

    
      	
               

            	
              (n)

            	
              “Transaction
                Documents” shall mean this Agreement, the Subscription Agreement and the
                Warrant Agreement to which the Company and the Purchasers are
                parties.

            

    

    

    Capitalized
      terms used but not defined
      herein shall have the meanings ascribed to such terms in the Subscription
      Agreement and Warrant Agreement.

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    2.   Registration
      Rights.

    

    2.1  Required
      Registration.

    (a)           The
      Company shall prepare, and, on or prior to thirty (90) days from the date of
      Closing (as defined in the Subscription Agreement) (the “Filing Date”), file
      with the Commission a Registration Statement on such form of Registration
      Statement as is then available to effect a registration of the Registrable
      Securities, subject to the consent of the Purchasers, which consent will not
      be
      unreasonably withheld) covering the resale of the Registrable Securities issued
      or issuable pursuant to the Securities Purchase Agreement, which Registration
      Statement, to the extent allowable under the Securities Act and the rules and
      regulations promulgated thereunder.

    

    (b)           Notwithstanding
      the foregoing, the Company may include in each such Registration requested
      pursuant to this Section 2.1, the 1,305,000 shares of Common Stock offered
      for
      sale by the Company’s warrantholders in or about April 2007, which the Company
      is obligated to register.

    

    (c)           The
      Company shall use its best efforts to obtain effectiveness of the Registration
      Statement on or prior to one hundred and eighty (180) days the (“Effectiveness
      Date”) from the date of Closing (as defined in the Subscription Agreement) and
      to keep such Registration Statement continuously effective under the Securities
      Act until such date as is the earlier of (x) the date when all Registrable
      Securities covered by such Registration Statement have been sold or (y) the
      date
      on which the Registrable Securities may be sold without any restriction pursuant
      to Rule 144(k) as determined by the counsel to the Company pursuant to a written
      opinion letter, addressed to the Company’s transfer agent to such effect (the
      "Effectiveness Period").  In the event that the Company is unable to
      register for resale all of the Registrable Securities on the Registration
      Statement due to limits imposed by the SEC, the Company will file a Registration
      Statement under the Securities Act with the SEC covering the resale by the
      Holders of such lesser amount of the Registrable Securities as the Company
      is
      able to register and use its best efforts to have such Registration Statement
      become effective as promptly as possible and, when permitted to do so by the
      SEC, to file subsequent registration statement(s) under the Securities Act
      with
      the SEC covering the resale of any Registrable Securities that were omitted
      from
      previous registration statement(s) and use its best efforts to have such
      registration declared effective as promptly as possible.

    

    (d)           The
      Company agrees that the Purchasers will suffer damages if a Registration
      Statement is not filed on or prior to the Filing Date or any additional Filing
      Date, as applicable, and, in each case, not declared effective by the SEC on
      or
      prior to the applicable Effectiveness Date and maintained in the manner
      contemplated herein during the applicable Effectiveness Period or if certain
      other events occur.  The Company and the Purchasers further agree that
      it would not be feasible to ascertain the extent of such damages with
      precision.  Accordingly, if (A) a Registration Statement is not filed
      on or prior to the Filing Date, any additional Filing Date, or (B)  a
      Registration Statement is not declared effective by the SEC on or prior to
      the
      applicable Effectiveness Date, or (C) any Registration Statement is filed with
      and declared effective by the Commission but thereafter ceases to be effective
      as to all Registrable Securities at any time prior to the expiration of the
      Effectiveness Period, without being succeeded immediately by a subsequent
      Registration Statement filed with and declared effective by the Commission
      (any
      such failure or breach being referred to as an “Event,” and for purposes
      of clauses (A) and (B) the date on which such Event occurs, or for purposes
      of
      clause (C) after more than fifteen (15) Business Days, being referred to as
      “Event Date”), the Company shall issue as liquidated damages to each
      Purchaser an additional 75,000 Warrants to purchase the Company’s Common Stock,
      at an exercise price of $0.15 per share, for each thirty (30) day period the
      Registration Statement is not declared effective after the Effectiveness Date,
      and shall ensure that the Common Stock underlying such warrants is also covered
      by the Registration Statement.  Liquidated damages payable by the
      Company pursuant to this Section shall be payable on the first (1st) Business
      Day of each thirty (30) day period following the Event Date.

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    2.2  Piggyback
      Registration

    

    (a)  Each
      time that the
      Company proposes to Register a public offering solely of its Common Stock,
      other
      than pursuant to a Registration Statement on Form S-4 or Form S-8 or similar
      or
      successor forms (collectively, "Excluded Forms"), the Company shall promptly
      give written notice of such proposed Registration to the Purchasers, which
      shall
      offer such holders the right to request inclusion of any Registrable Securities
      not heretofore registered in the proposed Registration.

    

    (b)  Each
      Purchaser shall
      have ten (10) days or such longer period as shall be set forth in the notice
      from the receipt of such notice to deliver to the Company a written request
      specifying the number of shares of Registrable Securities such Purchaser intends
      to sell and the holder's intended plan of disposition.

    

    (c)  Upon
      receipt of a
      written request pursuant to Section 2.2 (b), the Company shall promptly use
      its
      best efforts to cause all such Registrable Securities to be Registered, to
      the
      extent required to permit sale or disposition as set forth in the written
      request.

    

    2.3  Preparation
      and
      Filing.  If and whenever the Company is under an obligation pursuant
      to the provisions of this Section 2 to use its best efforts to effect the
      Registration of any Registrable Securities, the Company shall, as expeditiously
      as practicable:

    

    (a)  prepare
      and file with
      the Commission a Registration Statement with respect to such Registrable
      Securities and use its best efforts to cause such Registration Statement to
      become and remain effective, keeping each Purchaser advised as to the
      initiation, progress and completion of the Registration;

    

    (b)  prepare
      and file with
      the Commission such amendments and supplements to such Registration
      Statements-and the prospectus used in connection therewith as may be necessary
      to keep such Registration Statement effective for nine months and to comply
      with
      the provisions of the Securities Act with respect to the sale or other
      disposition of all Registrable Securities covered by such registration
      statement;

    

    (c)  furnish
      to each
      Purchaser such number of copies of any summary prospectus or other prospectus,
      including a preliminary prospectus, in conformity with
      the  requirements of the Securities Act, and such other documents as
      such Purchaser may reasonably request in order to facilitate the public sale
      or
      other disposition of such Registrable Securities;

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    (d)  use
      its best efforts to
      register or qualify the Registrable Securities covered by such registration
      statement under the securities or blue sky laws of such jurisdictions as each
      Purchaser shall reasonably request and do any and all other acts or things
      which
      may be necessary or advisable to enable such holder to consummate the public
      sale or other disposition in such jurisdictions of such Registrable Securities;
      provided, however, that the Company shall not be required to consent to general
      service of process, qualify to do business as a foreign corporation where it
      would not be otherwise required to qualify or submit to liability for state
      or
      local taxes where it is not liable for such taxes; and

    

    (e)  at
      any time when a
      prospectus covered by such Registration Statement is required to be delivered
      under the Securities Act, notify each Purchaser of the happening of any event
      as
      a result of which the prospectus included in such Registration, as then in
      effect, includes an untrue statement of a material fact or omits 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 and,
      at
      the request of such seller, prepare, file and furnish to such seller 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 shares, 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 statement therein not misleading in the light
      of the circumstances then existing.

    

    2.4  Expenses.  The
      Company shall pay all Registration Expenses incurred by the Company in complying
      with this Section 2; provided however that all underwriting discounts and
      selling commissions applicable to the Registrable Securities covered by
      registrations effected pursuant to section 2.2 hereof shall be borne by the
      seller or sellers thereof, in proportion to the number of Registrable Securities
      sold by such seller or sellers.

    

    2.5  Indemnification.

    

    (a)  Company's
      Indemnification of Purchasers.  The Company shall indemnify each
      Purchaser, each of its officers, directors and constituent partners, and each
      person controlling such Purchaser, and each underwriter thereof, if any, and
      each of its officers, directors, constituent partners, and each person who
      controls such underwriter, against all claims, losses, damages or liabilities
      (or actions in respect thereof) suffered or incurred by any of them, to the
      extent such claims, losses, damages or liabilities arise out of or are based
      upon any untrue statement (or alleged untrue statement) of a material fact
      contained in any prospectus or any related Registration Statement incident
      to
      any such Registration, or any omission (or alleged omission) to state therein
      a
      material fact required to be stated therein or necessary to make the statements
      therein not misleading, or any violation by the Company of any rule or
      regulation promulgated under the Securities Act applicable to the Company and
      relating to actions or inaction required of the Company in connection with
      any
      such Registration; and the Company will reimburse each such Purchaser, each
      such
      underwriter, each of their officers, directors and constituent partners and
      each
      person who controls any such Purchaser or underwriter, for any legal and any
      other expenses as reasonably incurred in connection with investigating or
      defending any such claim, loss, damage, liability or action; provided however,
      that the indemnity contained in this Section 2.5(a) shall not apply to amounts
      paid in settlement of any such claim, loss, damage, liability or action if
      settlement is effected without the consent of the Company (which consent shall
      not unreasonably be withheld); and provided however, that the Company will
      not
      be liable in any such case to the extent that any such claim, loss, damage,
      liability or expense arises out of or is based upon any untrue statement or
      omission based upon written information furnished to the Company by such
      Purchaser, underwriter, controlling - person or other indemnified person and
      stated to be for use in connection with the offering of securities of the
      Company.

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    (b)  Purchaser's
      Indemnification of Company.  Each Purchaser shall indemnify the
      Company, each of its directors and officers, each underwriter, if any, of the
      Company's Registrable Securities covered by a Registration Statement, each
      person who controls such underwriter within the meaning of the Securities Act,
      and each other Purchaser, each of its officers, directors and constituent
      partners and each person controlling such other Purchaser, against all claims,
      losses, damages and liabilities (or actions in respect thereof) suffered or
      incurred by any of them and arising out of or based upon any untrue statement
      (or alleged untrue statement) of a material fact contained in such Registration
      Statement or related prospectus, or any omission (or alleged omission) to state
      therein a material fact required to be stated therein or necessary to make
      the
      statements therein not misleading, or any violation by such Purchaser of any
      rule or regulation promulgated under the Securities Act applicable to such
      Purchaser and relating to actions or inaction required of such Purchaser in
      connection with the Registration of the Registrable Securities pursuant to
      such
      Registration Statement; and will reimburse the Company, such other Purchasers,
      such directors, officers, partners, persons, underwriters ' and controlling
      persons for any legal and any other expenses reasonably incurred in connection
      with investigating or defending any such claim, loss, damage, liability or
      action; such indemnification and reimbursement shall be to the extent, but
      only
      to the extent, that such untrue statement (or alleged untrue statement) or
      omission (or alleged omission) is made in such Registration Statement or
      prospectus in reliance upon and in conformity with written information furnished
      to the Company by such Purchaser and stated to be specifically for use in
      connection with the offering of Registrable Securities. Anything in the
      foregoing to the contrary notwithstanding, in no event shall the aggregate
      obligations of a Purchaser under this Section 2.5(b) to all parties that may
      be
      entitled to indemnification hereunder exceed the amount of proceeds received
      by
      such Purchaser in connection with such offering of Registrable
      Securities.

    

    (c)  Indemnification
      Procedure.  Promptly after receipt by an indemnified party under this
      Section 2.5 of notice of the commencement of any action which may give rise
      to a
      claim for indemnification hereunder, such indemnified party will, if a claim
      in
      respect thereof is to be made against an indemnifying party under this Section
      2.5, notify the indemnifying party in writing of the commencement thereof and
      generally summarize such action. The indemnifying party shall have the right
      to
      participate in and to assume the defense of such claim, and shall be entitled
      to
      select counsel for the defense of such claim with the approval of any parties
      entitled to indemnification, which approval shall not be unreasonably withheld.
      Notwithstanding the foregoing, the parties entitled to indemnification shall
      have the, right to employ, separate counsel (reasonably satisfactory to the
      indemnifying party) to participate in the defense thereof, but the fees and
      expenses of such counsel shall be at the expense of such indemnified parties
      unless the named parties to such action or proceedings include both the
      indemnifying party and the indemnified parties and the indemnifying party or
      such indemnified parties shall have been advised by counsel that there are
      one
      or more legal defenses available to the indemnified parties which are different
      from or additional to those available to the indemnifying party (in which case,
      if the indemnified parties notify the indemnifying party in writing that they
      elect to employ separate counsel at the reasonable expense of the indemnifying
      party, the indemnifying party shall not have the right to assume the defense
      of
      such action or proceeding on behalf of the indemnified parties, it being
      understood, however, that the indemnifying party shall not, in connection with
      any such action or proceeding or separate or substantially similar or related
      action or proceeding in the same jurisdiction arising out of the same general
      allegations or circumstances, be liable for the reasonable fees and expenses
      of
      more than one separate counsel at any time for all indemnified parties, which
      counsel shall be designated in writing by the Purchasers of a majority of the
      Registrable Securities).

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    (d)  Contribution.  If
      the
      indemnification provided for in this Section 2.5 from an indemnifying party
      is
      unavailable to an indemnified party hereunder in respect to any losses, claims,
      damages, liabilities or expenses referred to herein, then the indemnifying
      party, in lieu of indemnifying such indemnified party, shall contribute to
      the
      amount paid or payable by such indemnified party as a result of such losses,
      claims, damages, liabilities or expenses in such proportion as is appropriate
      to
      reflect the relative fault of the indemnifying party and indemnified party
      in
      connection with the statements or omissions which result in such losses, claims,
      damages, liabilities or expenses, as well as any other relevant equitable
      considerations. The relative fault of such indemnifying party and indemnified
      party shall be determined by reference to, among other things, whether the
      untrue or alleged untrue statement of a material fact or the omission or alleged
      omission to state a material fact relates to information supplied by such
      indemnifying party or indemnified party and the parties' relative intent,
      knowledge, access to information supplied by such indemnifying party or
      indemnified party and opportunity to correct or prevent such statement or
      omission. The amount paid or payable by a party as a result of the losses,
      claims, damages, liabilities and expenses referred to above shall be deemed
      to
      include any legal or other fees or expenses reasonably incurred by such party
      in
      connection with investigating or defending any action, suit, proceeding or
      claim.

    

    3.  Covenants
      of the Company.  The Company agrees to:

    

    (a)  Notify
      the Purchaser of
      the issuance by the Commission of any stop order suspending the effectiveness
      of
      such Registration Statement or the initiation of any proceedings for that
      purpose. The Company will make every reasonable effort to prevent the issuance
      of any stop order and, if any stop order is issued, to obtain the lifting
      thereof at the earliest possible time.

    

    (b)  If
      the Common Stock is
      then listed on a national securities exchange, use its best efforts to cause
      the
      Registrable Securities to be listed on such exchange.

    

    (c)  Take
      all other
      reasonable actions necessary to expedite and facilitate disposition of the
      Registrable Securities by the holders thereof pursuant to the Registration
      Statement.

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    (d)  With
      a view to making
      available to the holders of Registrable Securities the benefits of Rule 144
      promulgated under the Securities Act and any other rule or regulation of the
      Commission that may at any time permit the Purchasers to sell securities of
      the
      Company to the public without registration, the Company, after it has become
      obligated to file periodic or other reports pursuant to Section 13 of the 1934
      Act agrees to:

    

    (i)  make
      and keep public
      information available, as those terms are understood and defined in Rule 144,
      at
      all times after 90 days after the effective date of the first Registration
      Statement filed by the Company for the offering of its securities to the general
      public;

    

    (ii)  file
      with the
      Commission in a timely manner all reports and other documents required of the
      Company under the Securities Act and the Securities and Exchange Act of 1934
      (the "1934 Act"); and

    

    (iii)  furnish
      to the
      Purchasers, so long as such Purchaser owns any Shares, forthwith upon written
      request: (a) a written statement by the Company that it has complied with the
      reporting requirements of Rule 144 (at any time after 90 days after the
      effective date of the first registration statement filed by the Company), the
      Securities Act and the 1934 Act (at any time after it has become subject to
      such
      reporting requirements), (b) a copy of the most recent annual or quarterly
      report of the Company and such other reports and documents so filed by the
      Company and (c) such other information as may be reasonably requested and as
      is
      publicly available in availing the Purchasers of any rule or regulation of
      the
      Commission which permits the selling of any such securities without
      registration.

    

    (e)  Prior
      to the filing of
      the Registration Statement or any amendment thereto (whether pre-effective
      or
      post-effective), and prior to the filing of any prospectus or prospectus
      supplement related thereto, the Company will provide each Purchaser with copies
      of all pages thereto, if any, which reference such Selling.

    

    4.  Independent
      Nature of Purchasers’ Obligations and Rights.The obligations of each
      Purchaser hereunder is several and not joint with the obligations of any other
      Purchaser hereunder, and no Purchaser shall be responsible in any way for the
      performance of the obligations of any other Purchaser hereunder.  The
      decision of each Purchaser to purchase the Registrable Securities pursuant
      to
      the Transaction Documents has been made independently of any other
      Purchaser.  Nothing contained herein or in any other agreement or
      document delivered at any closing, and no action taken by any Purchaser pursuant
      hereto or thereto, shall be deemed to constitute the Purchasers as a
      partnership, an association, a joint venture or any other kind of entity, or
      create a presumption that the Purchasers are in any way acting in concert with
      respect to such obligations or the transactions contemplated by this
      Agreement.  Each Purchaser acknowledges that no other Purchaser has
      acted as agent for such Purchaser in connection with making its investment
      hereunder and that no Purchaser will be acting as agent of such Purchaser in
      connection with monitoring its investment in the Securities or enforcing its
      rights under the Transaction Documents.  Each Purchaser shall be
      entitled to protect and enforce its rights, including without limitation the
      rights arising out of this Agreement, and it shall not be necessary for any
      other Purchaser to be joined as an additional party in any proceeding for such
      purpose.

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    5.   Miscellaneous.

    

    (a)  Notices
      required or
      permitted to be given hereunder shall be in writing and shall be deemed to
      be
      sufficiently given when personally delivered or sent by registered mail, return
      receipt requested, addressed (i) if to the Company, at NanoViricides, Inc.,
      135
      Wood Street, Suite 205, West Haven, Connecticut 06516 and (ii) if to a
      Purchaser, at the address set forth in his Warrant Agreement, or at such other
      address as each such party furnishes by notice given in accordance with this
      Section 4 (a).

    

    (b)  Failure
      of any party to
      exercise any right or remedy under this Agreement or otherwise, or delay by
      a
      party in exercising such right or remedy, will not operate as a waiver
      thereof.  No waiver will be effective unless and until it is in
      writing and signed by the party giving the waiver.

    

    (c)  THIS
      AGREEMENT SHALL BE
      ENFORCED, GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE
      OF
      NEVADA APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH
      STATE, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICT OF LAWS.  THE
      PARTIES HERETO HEREBY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE UNITED STATES
      FEDERAL COURTS LOCATED IN NEW YORK, NEW YORK WITH RESPECT TO ANY DISPUTE ARISING
      UNDER THIS AGREEMENT, THE AGREEMENTS ENTERED INTO IN CONNECTION HEREWITH OR
      THE
      TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. BOTH PARTIES IRREVOCABLY WAIVE
      THE
      DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH SUIT OR
      PROCEEDING.  BOTH PARTIES FURTHER AGREE THAT SERVICE OF PROCESS UPON A
      PARTY MAILED BY FIRST CLASS MAIL SHALL BE DEEMED IN EVERY RESPECT EFFECTIVE
      SERVICE OF PROCESS UPON THE PARTY IN ANY SUCH SUIT OR
      PROCEEDING.  NOTHING HEREIN SHALL AFFECT EITHER PARTY’S RIGHT TO SERVE
      PROCESS IN ANY OTHER MANNER PERMITTED BY LAW.  BOTH PARTIES AGREE THAT
      A FINAL NON-APPEALABLE JUDGMENT IN ANY SUCH SUIT OR PROCEEDING SHALL BE
      CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON SUCH JUDGMENT
      OR IN ANY OTHER LAWFUL MANNER.  THE PARTY WHICH DOES NOT PREVAIL IN
      ANY DISPUTE ARISING UNDER THIS AGREEMENT SHALL BE RESPONSIBLE FOR ALL FEES
      AND
      EXPENSES, INCLUDING ATTORNEYS’ FEES, INCURRED BY THE PREVAILING PARTY IN
      CONNECTION WITH SUCH DISPUTE.

     

    (d)  In
      the event that any
      provision of this Agreement is invalid or unenforceable under any applicable
      statute or rule of law, then such provision shall be deemed inoperative to
      the
      extent that it may conflict therewith and shall be deemed modified to conform
      with such statute or rule of law.  Any provision hereof which may
      prove invalid or unenforceable under any law shall not affect the validity
      or
      enforceability of any other provision hereof.

     

    (e)  This
      Agreement, the
      Warrants and the Subscription Agreement (including all schedules and exhibits
      thereto) constitute the entire agreement among the parties hereto with respect
      to the subject matter hereof and thereof.  There are no restrictions,
      promises, warranties or undertakings, other than those set forth or referred
      to
      herein and therein.  This Agreement and the Securities Purchase
      Agreement supersede all prior agreements and understandings among the parties
      hereto with respect to the subject matter hereof and thereof.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    (f)  Subject
      to the
      requirements of Section 4 hereof, this Agreement shall be binding upon and
      inure
      to the benefit of the parties and their successors and assigns.

     

    (g)  The
      headings in this
      Agreement are for convenience of reference only and shall not form part of,
      or
      affect the interpretation of, this Agreement.

     

    (h)  This
      Agreement may be
      executed in two or more counterparts, each of which shall be deemed an original
      but all of which shall constitute one and the same agreement and shall become
      effective when counterparts have been signed by each party and delivered to
      the
      other party.  This Agreement, once executed by a party, may be
      delivered to the other party hereto by facsimile transmission of a copy of
      this
      Agreement bearing the signature of the party so delivering this
      Agreement.

     

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

     

    (j)  Except
      as otherwise
      provided herein, all consents and other determinations to be made by the
      Investors pursuant to this Agreement shall be made by Investors holding a
      majority of the Registrable Securities, determined as if the all of the Notes
      then outstanding have been converted into for Registrable
      Securities.

     

    (k)  The
      Company acknowledges
      that a breach by it of its obligations hereunder will cause irreparable harm
      to
      each Investor by vitiating the intent and purpose of the transactions
      contemplated hereby.  Accordingly, the Company acknowledges that the
      remedy at law for breach of its obligations under this Agreement will be
      inadequate and agrees, in the event of a breach or threatened breach by the
      Company of any of the provisions under this Agreement, that each Investor shall
      be entitled, in addition to all other available remedies in law or in equity,
      and in addition to the penalties assessable herein,  to an injunction
      or injunctions restraining, preventing or curing any breach of this Agreement
      and to enforce specifically the terms and provisions hereof, without the
      necessity of showing economic loss and without any bond or other security being
      required.

     

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

     

    (The
      rest of this page left intentionally blank.)

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF,
      the Company has executed this Agreement for the benefit of the Purchasers by
      its
      duly authorized officer as of the date first above written.

    

    

    
      	 	
              NANOVIRICIDES,
                INC.

            
	 	 	 
	 	 	 
	 	
              By:

            	/s/
              Eugene Seymour
	 	 	
              Eugene
                Seymour,

            
	 	 	
              Chief
                Executive Officer

            

    

    

    

    AGREED
      AND ACCEPTED THIS

    21st
      day
      of September, 2007

    

    DKR
      SATURN EVENT DRIVEN

        HOLDING
      FUND LTD.

    

    

    
      	
              By:

            	/s/
              Rajni Narasi	 
	 	
              Name:
                Rajni Narasi

            	 
	 	
              Title:
                Authorized Signatory

            	 

    

     

     

    11

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