Document:

Exhibit
      4.2

     

    REGISTRATION
      RIGHTS AGREEMENT

     

    This
      Registration Rights Agreement (this “Agreement”)
      is
      made and entered into as of December 17, 2007 among United Benefits &
Pension Services, Inc., a Delaware corporation (“UBPS”),
      and
      the several purchasers signatory hereto (each such purchaser is a “Purchaser”
and collectively, the “Purchasers”).

     

    This
      Agreement is made pursuant to the Subscription Agreement, dated as of the date
      hereof between UBPS and the Purchaser (the “Subscription
      Agreement”).

     

    UBPS
      and
      each Purchaser hereby agrees as follows:

     

    1. Definitions.
      Capitalized terms used and not otherwise defined herein that are defined in
      the
      Amended and Restated Private Placement Memorandum of UBPS, dated as of November
      5, 2007, as amended and supplemented on December 12, 2007 (as amended and
      supplemented, the “Memorandum”),
      shall
      have the meanings given such terms in the Memorandum. As used in this Agreement,
      the following terms shall have the following meanings:

     

    “Advice”
shall
      have the meaning set forth in Section 6(d).

     

    “Effectiveness
      Date”
means,
      with respect to the initial Registration Statement required to be filed
      hereunder, July 13, 2008 and, with respect to any additional Registration
      Statements which may be required pursuant to Section 3(c), the 120th calendar
      day following the date on which UBPS first knows, or reasonably should have
      known, that such additional Registration Statement is required hereunder;
provided,
      however,
      that in
      the event UBPS is notified by the SEC that one of the above Registration
      Statements will not be reviewed or is no longer subject to further review and
      comments, the Effectiveness Date as to such Registration Statement shall be
      the
      fifth Trading Day following the date on which UBPS is so notified if such date
      precedes the dates required above.

     

    “Effectiveness
      Period”
shall
      have the meaning set forth in Section 2(a).

     

    “Event”
shall
      have the meaning set forth in Section 2(b).

     

    “Event
      Date”
shall
      have the meaning set forth in Section 2(b).

     

    “Filing
      Date”
means,
      with respect to the initial Registration Statement required hereunder, March
      15,
      2008 and, with respect to any additional Registration Statements which may
      be
      required pursuant to Section 3(c), the 45th calendar day following the earlier
      of: (i) the date on which UBPS first knows, or reasonably should have known
      that
      such additional Registration Statement is required hereunder and (ii) the date
      any such additional Registration Statement is permitted to be filed with the
      SEC.

     

    “Holder”
or
      “Holders”
means
      the holder or holders, as the case may be, from time to time of Registrable
      Securities. 

     

    
      “Selling
        Shareholder Questionnaire”
shall
        have the meaning set forth in Section 3(a).

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    “Indemnified
      Party”
shall
      have the meaning set forth in Section 5(c).

     

    “Indemnifying,
      Party”
shall
      have the meaning set forth in Section 5(c).

     

    “Losses”
shall
      have the meaning set forth in Section 5(a).

     

    “Plan
      of Distribution”
shall
      have the meaning set forth in Section 2(a).

     

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

     

    “Registrable
      Securities”
means,
      as of the date in question, (i) all of the shares of UBPS Common Stock included
      in the Units, (ii) all UBPS Warrant Shares, (iii) any additional shares issuable
      in connection with any anti-dilution provisions associated with the UBPS
      Warrants (in each case, without giving effect to any limitations on exercise
      set
      forth in the UBPS Warrant) and (iv) any securities issued or issuable upon
      any
      stock split, dividend or other distribution, recapitalization or similar event
      with respect to the foregoing.

     

    “Registration
      Statement”
means
      the registration statements required to be filed hereunder and any additional
      registration statements contemplated by Section 3(c), including (in each case)
      the Prospectus, amendments and supplements to such registration statement or
      Prospectus, including pre- and post-effective amendments, all exhibits thereto,
      and all material incorporated by reference or deemed to be incorporated by
      reference in such registration statement.

     

    “Rule
      415”
means
      Rule 415 promulgated by the SEC pursuant to the Securities Act, as such Rule
      may
      be amended from time to time, or any similar rule or regulation hereafter
      adopted by the SEC having substantially the same purpose and effect as such
      Rule.

     

    “Rule
      424”
means
      Rule 424 promulgated by the SEC pursuant to the Securities Act, as such Rule
      may
      be amended from time to time, or any similar rule or regulation hereafter
      adopted by the SEC having substantially the same purpose and effect as such
      Rule. 

     

    “Trading
      Day”
shall
      mean any day other than a Saturday, Sunday or a day on which banks in New York
      City or the New York Stock Exchange are authorized or obligated by applicable
      law or executive order to close or are otherwise generally closed.

     

    
      
        
        

      

      
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    2. Shelf
      Registration.

     

    (a) On
      or
      prior to each Filing Date, UBPS shall prepare and file with the SEC a “Shelf’
Registration Statement covering the resale of the Registrable Securities on
      such
      Filing Date for an offering to be made on a continuous basis pursuant to Rule
      415. The Registration Statement shall be on Form S-1 (or such other form as
      may
      be appropriate in accordance herewith) and shall contain (unless otherwise
      directed by at least an 85% majority in interest of the Holders) substantially
      the “Plan of Distribution” attached hereto as Annex A. Subject to the terms of
      this Agreement, UBPS shall use its best efforts to (i) cause a Registration
      Statement to be declared effective under the Securities Act as promptly as
      possible after the filing thereof, but in any event prior to the applicable
      Effectiveness Date, and (ii) to keep such Registration Statement continuously
      effective under the Securities Act until all Registrable Securities covered
      by
      such Registration Statement have been sold, or may be sold without volume
      restrictions pursuant to Rule 144(k), as determined by the counsel to UBPS
      pursuant to a written opinion letter to such effect, addressed and acceptable
      to
      UBPS’s transfer agent and the affected Holders (the “Effectiveness
      Period”).
      UBPS
      shall telephonically confirm effectiveness of a Registration Statement as of
      5:00 pm Eastern time on a Trading Day. UBPS shall immediately notify the Holders
      via facsimile of the effectiveness of a Registration Statement on the same
      Trading Day that UBPS telephonically confirms effectiveness with the SEC, which
      shall be the date requested for effectiveness of a Registration Statement.
      UBPS
      shall file, by 9:30 a.m. Eastern time on the second Trading Day following the
      date on which the initial Registration Statement filed by UBPS pursuant to
      this
      Agreement is first declared effective by the SEC, a final Prospectus with the
      SEC as required by Rule 424. Failure to so notify the Holder within two Trading
      Days of such notification of effectiveness or failure to file a final Prospectus
      as aforesaid shall be deemed an Event under Section 2(b). All selling
      shareholders included on the applicable Registration Statement shall be given
      notice of the effectiveness of such Registration Statement substantially at
      the
      same time.

     

    
      
        
        

      

      
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    (b) If
      (i) a
      Registration Statement is not filed on or prior to the 15th day following its
      Filing Date (ii) UBPS files a Registration Statement without affording the
      Holders the opportunity to review and comment on the same as required by Section
      3(a) herein; (iii) UBPS fails to file with the SEC a request for acceleration
      in
      accordance with Rule 461 promulgated under the Securities Act, within five
      Trading Days of the date that UBPS is notified (orally or in writing, whichever
      is earlier) by the SEC that a Registration Statement will not be “reviewed,” or
      not subject to further review, (iv) prior to the 45th
      day
      following its Effectiveness Date, UBPS fails to file an amendment and otherwise
      respond in writing to comments made by the SEC in respect of such Registration
      Statement within 30 calendar days after the receipt of comments by or notice
      from the SEC that such amendment is required in order for a Registration
      Statement to be declared effective, (v) a Registration Statement filed or
      required to be filed hereunder is not declared effective by the SEC by its
      Effectiveness Date, (vi) after the Effectiveness Date, a Registration Statement
      ceases for any reason to remain continuously effective as to all Registrable
      Securities for which it is required to be effective, or the Holders are
      otherwise not permitted to utilize the Prospectus therein to resell such
      Registrable Securities for more than 20 consecutive calendar days or more than
      an aggregate of 30 calendar days during any 12-month period (which need not
      be
      consecutive calendar days) (any such failure or breach being referred to as
      an
“Event”,
      and
      for purposes of clause (i), (ii) or (v) the date on which such Event occurs,
      or
      for purposes of clause (iii) the date on which such five Trading Day period
      is
      exceeded, or for purposes of clause (iv) the date which such 30 calendar day
      period is exceeded, or for purposes of clause (vi) the date on which such 20
      or
      30 calendar day period, as applicable, is exceeded being referred to as
“Event
      Date”),
      then
      in addition to any other rights the Holders may have hereunder or under
      applicable law, on each such Event Date and on each monthly anniversary of
      each
      such Event Date (if the applicable Event shall not have been cured by such
      date)
      until the applicable Event is cured, UBPS shall pay to each Holder partial
      liquidated damages, equal to 1.0% of the gross proceeds received by UBPS from
      the sale of the Units (or the ratable portion thereof for a partial month)
      pursuant to the Subscription Agreement for any Registrable Securities then
      held
      by such Holder and not then registered for resale pursuant to an effective
      Registration Statement. The parties agree that (1) in no event shall UBPS be
      liable for liquidated damages under this Agreement in excess of 1.0% of the
      aggregate gross proceeds received from the sale of the Units pursuant to the
      Subscription Agreement in any 30-day period and (2) the maximum aggregate
      liquidated damages payable to a Holder under this Agreement shall be 10.0%
      of
      the aggregate gross proceeds received from the sale of the Units pursuant to
      the
      Subscription Agreement. Notwithstanding anything herein to the contrary and
      subject to the payment of liquidated damages as set forth above, in the event
      all of the Registrable Securities are not registered by the Effectiveness Date
      because the SEC determines any Registration Statement filed pursuant to this
      Agreement constitutes a primary offering of securities by UBPS and/or requires
      any Holder to be named as an underwriter, or otherwise restricts the number
      of
      Registrable Securities that can be registered in a given Registration Statement
      (“SEC
      Caused Event”),
      Holders understand and agree that UBPS may reduce, on a pro-rata basis, the
      total number of Registrable Securities to be registered on behalf of each such
      Holder and that the 1% partial liquidated damages described in this Section
      2(b)
      shall be based on those securities not included in the Registration Statement,
      rather than 1% of gross proceeds from the sale of the Units; provided,
      however,
      that in
      such event, such partial liquidated damages shall only begin to accrue on and
      after the 120th
      day
      after the Effectiveness Date. Notwithstanding anything herein to the contrary,
      UBPS will not be liable for liquidated damages under this Agreement with respect
      to any UBPS Warrants or the UBPS Warrant Shares. In the event of such reduction,
      the affected Holders shall have demand registration rights during the term
      of
      the Effectiveness Period and the Holders acknowledge and agree the provisions
      of
      this paragraph may apply to more than one Registration Statement and that the
      SEC may limit or condition any subsequent Registration Statement. The partial
      liquidated damages pursuant to the terms hereof shall apply on a daily pro-rata
      basis for any portion of a month prior to the cure of an Event.

    3. Registration
      Procedures.

     

    In
      connection with UBPS’s obligations with respect to the registration of the
      Registrable Securities hereunder, UBPS shall:

     

    (a) Not
      less
      than five Trading Days prior to the filing of each Registration Statement and
      not less than one Trading Day prior to the filing of any related Prospectus
      or
      any amendment or supplement thereto (including any document that would be
      incorporated or deemed to be incorporated therein by reference), (i) furnish
      to
      each Holder copies of all such documents proposed to be filed, which documents
      (other than those incorporated or deemed to be incorporated by reference) will
      be subject to the review of such Holders, and (ii) cause its officers and
      directors, counsel and independent certified public accountants to respond
      to
      such inquiries as shall be necessary, in the reasonable opinion of respective
      counsel to each Holder to conduct a reasonable investigation within the meaning
      of the Securities Act. 

     

    
      
         

      

      
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    (b) Not
      file
      a Registration Statement or any such Prospectus or any amendments or supplements
      thereto to which the Holders of a majority of the Registrable Securities shall
      reasonably object in good faith, provided that, UBPS is notified of such
      objection in writing no later than five Trading Days after the Holders have
      been
      so furnished copies of a Registration Statement or one Trading Day after the
      Holders have been so furnished copies of any related Prospectus or amendment
      or
      supplement thereto. Each Holder agrees to furnish to UBPS a completed
      Questionnaire in the form attached to this Agreement as Annex B (a “Selling
      Shareholder Questionnaire”)
      not
      less than two Trading Days prior to the Filing Date or by the end of the fourth
      Trading Day following the date on which such Holder receives draft materials
      in
      accordance with this Section.

     

    (c) (i)
      prepare and file with the SEC such amendments, including post-effective
      amendments, to a Registration Statement and the Prospectus used in connection
      therewith as may be necessary to keep a Registration Statement continuously
      effective as to the applicable Registrable Securities for the Effectiveness
      Period and to prepare and file with the SEC such additional Registration
      Statements in order to register for resale under the Securities Act all of
      the
      Registrable Securities; (ii) amend or supplement the related Prospectus by
      any
      required Prospectus supplement (subject to the terms of this Agreement), and
      as
      so supplemented or amended to be filed pursuant to Rule 424; (iii) respond
      as
      promptly as reasonably possible to any comments received from the SEC with
      respect to a Registration Statement or any amendment thereto and as promptly
      as
      reasonably possible provide the Holders true and complete copies of all
      correspondence from and to the SEC relating to a Registration Statement
      (provided that UBPS may excise any information contained therein which would
      constitute material non-public information as to any Holder which has not
      executed a confidentiality agreement with UBPS); and (iv) comply in all material
      respects with the provisions of the Securities Act and the Exchange Act with
      respect to the disposition of all Registrable Securities covered by a
      Registration Statement during the applicable period in accordance (subject
      to
      the terms of this Agreement) with the intended methods of disposition by the
      Holders thereof set forth in such Registration Statement as so amended or in
      such Prospectus as so supplemented.

     

    (d) If
      during
      the Effectiveness Period, the number of Registrable Securities at any time
      exceeds the number of shares of UBPS Common Stock then registered in a
      Registration Statement, file as soon as reasonably practicable but in any case
      prior to the applicable Filing Date, an additional Registration Statement
      covering the resale by the Holders of not less than 100% of the number of such
      Registrable Securities.

     

    
      
        
        

      

      
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    (e) Notify
      the Holders of Registrable Securities to be sold (which notice shall, pursuant
      to clauses (iii) through (vi) hereof, shall also be accompanied by an
      instruction to suspend the use of the Prospectus until the requisite changes
      have been made) as promptly as reasonably possible (and, in the case of (i)(A)
      below, not less than one Trading Day prior to such filing) and (if requested
      by
      any such Person) confirm such notice in writing no later than one Trading Day
      following the day (i)(A) when a Prospectus or any Prospectus supplement or
      post-effective amendment to a Registration Statement is proposed to be filed;
      (B) when the SEC notifies UBPS whether there will be a “review” of such
      Registration Statement and whenever the SEC comments in writing on such
      Registration Statement; and (C) with respect to a Registration Statement or
      any
      post-effective amendment, when the same has become effective; (ii) of any
      request by the SEC or any other Federal or state governmental authority for
      amendments or supplements to a Registration Statement or Prospectus or for
      additional information; (iii) of the issuance by the SEC or any other federal
      or
      state governmental authority of any stop order suspending the effectiveness
      of a
      Registration Statement covering any or all of the Registrable Securities or
      the
      initiation of any Proceedings for that purpose; (iv) of the receipt by UBPS
      of
      any notification with respect to the suspension of the qualification or
      exemption from qualification of any of the Registrable Securities for sale
      in
      any jurisdiction, or the initiation or threatening of any Proceeding for such
      purpose; (v) of the occurrence of any event or passage of time that makes the
      financial statements included in a Registration Statement ineligible for
      inclusion therein or any statement made in a Registration Statement or
      Prospectus or any document incorporated or deemed to be incorporated therein
      by
      reference untrue in any material respect or that requires any revisions to
      a
      Registration Statement, Prospectus or other documents so that, in the case
      of a
      Registration Statement or the Prospectus, as the case may be, it will not
      contain any untrue statement of a material fact or omit to state any material
      fact required to be stated therein or necessary to make the statements therein,
      in light of the circumstances under which they were made, not misleading; and
      (vi) the occurrence or existence of any pending corporate development with
      respect to UBPS (including its subsidiaries) that UBPS believes may be material
      and that, in the determination of UBPS, makes it not in the best interest of
      UBPS to allow continued availability of a Registration Statement or Prospectus;
      provided
      that any
      and all of such information shall remain confidential to each Holder until
      such
      information otherwise becomes public, unless disclosure by a Holder is required
      by law; provided,
      further,
      that notwithstanding each Holder’s agreement to keep such information
      confidential, the Holders make no acknowledgement that any such information
      is
      material, non-public information.

     

    (f) Use
      its
      best efforts to avoid the issuance of, or, if issued, obtain the withdrawal
      of
      (i) any order suspending the effectiveness of a Registration Statement, or
      (ii)
      any suspension of the qualification (or exemption from qualification) of any
      of
      the Registrable Securities for sale in any jurisdiction, at the earliest
      practicable moment.

     

    (g) Furnish
      to each Holder, without charge, at least one conformed copy of each such
      Registration Statement and each amendment thereto, including financial
      statements and schedules, all documents incorporated or deemed to be
      incorporated therein by reference to the extent requested by such Person, and
      all exhibits to the extent requested by such Person (including those previously
      furnished or incorporated by reference) promptly after the filing of such
      documents with the SEC.

     

    (h) Subject
      to the terms of this Agreement, UBPS, on behalf of itself, its successors and
      assigns, hereby consents to the use of such Prospectus and each amendment or
      supplement thereto by each of the selling Holders in connection with the
      offering and sale of the Registrable Securities covered by such Prospectus
      and
      any amendment or supplement thereto, except after the giving of any notice
      pursuant to Section 3(d).

     

    
      
        
        

      

      
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    (i) Effect
      a
      filing with respect to the public offering contemplated by the Registration
      Statement (an “Issuer
      Filing”)
      with
      the National Association of Securities Dealers, Inc. (“NASD”)
      Corporate Financing Department pursuant to NASD Rule 2710(b)(4) within one
      Trading Day of the date that the Registration Statement is first filed with
      the
      SEC and pay the filing fee required by such Issuer Filing. UBPS shall use
      commercially reasonable efforts to pursue the Issuer Filing until the NASD
      issues a letter confirming that it does not object to the terms of the offering
      contemplated by the Registration Statement.

     

    (j) Prior
      to
      any resale of Registrable Securities by a Holder, use commercially reasonable
      efforts to register or qualify or cooperate with the selling Holders in
      connection with the registration or qualification (or exemption from the
      Registration or qualification) of such Registrable Securities for the resale
      by
      the Holder under the securities or Blue Sky laws of such jurisdictions within
      the United States as any Holder reasonably requests in writing, to keep each
      registration or qualification (or exemption therefrom) effective during the
      Effectiveness Period and to do any and all other acts or things reasonably
      necessary to enable the disposition in such jurisdictions of the Registrable
      Securities covered by each Registration Statement; provided, that UBPS shall
      not
      be required to (i) qualify generally to do business in any jurisdiction where
      it
      is not then so qualified, (ii) subject UBPS to any material tax in any such
      jurisdiction where it is not then so subject or (iii) file a general consent
      to
      service of process in any such jurisdiction.

     

    (k) If
      requested by the Holders, cooperate with the Holders to facilitate the timely
      preparation and delivery of certificates representing Registrable Securities
      to
      be delivered to a transferee pursuant to a Registration Statement, which
      certificates shall be free, to the extent permitted by the Securities Act,
      of
      all restrictive legends, and to enable such Registrable Securities to be in
      such
      denominations and registered in such names as any such Holders may
      request.

     

    (l) Upon
      the
      occurrence of any event contemplated by this Section 3, as promptly as
      reasonably possible under the circumstances taking into account UBPS’s good
      faith assessment of any adverse consequences to UBPS or its stockholders of
      the
      premature disclosure of such event, prepare a supplement or amendment, including
      a post-effective amendment, to a Registration Statement or a supplement to
      the
      related Prospectus or any document incorporated or deemed to be incorporated
      therein by reference, and file any other required document so that, as
      thereafter delivered, neither a Registration Statement nor such Prospectus
      will
      contain 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,
      in
      light of the circumstances under which they were made, not misleading. If UBPS
      notifies the Holders in accordance with clauses (iii) through (vi) of Section
      3(d) above to suspend the use of any Prospectus until the requisite changes
      to
      such Prospectus have been made, then the Holders shall suspend use of such
      Prospectus. UBPS will use its best efforts to ensure that the use of the
      Prospectus may be resumed as promptly as is practicable. UBPS shall be entitled
      to exercise its right under this Section 3(l) to suspend the availability of
      a
      Registration Statement and Prospectus, subject to the payment of partial
      liquidated damages pursuant to Section 2(b), for a period not to exceed 60
      calendar days (which need not be consecutive days) in any 12 month
      period.

     

    
      
        
        

      

      
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    (m) Comply
      with all applicable rules and regulations of the SEC.

     

    (n) UBPS
      may
      require each selling Holder to furnish to UBPS a certified statement as to
      the
      number of shares of UBPS Common Stock beneficially owned by such Holder and,
      if
      required by the SEC, the natural persons thereof that have voting and
      dispositive control over the shares. During any periods that UBPS is unable
      to
      meet its obligations hereunder with respect to the registration of the
      Registrable Securities solely because any Holder fails to furnish such
      information within three Trading Days of UBPS’s request, any liquidated damages
      that are accruing at such time as to such Holder only shall be tolled and any
      Event that may otherwise occur solely because of such delay shall be suspended
      as to such Holder only, until such information is delivered to
      UBPS.

     

    4. Registration
      Expenses.
      All
      fees and expenses incident to the performance of or compliance with this
      Agreement by UBPS shall be borne by UBPS whether or not any Registrable
      Securities are sold pursuant to a Registration Statement. The fees and expenses
      referred to in the foregoing sentence shall include, without limitation, (i)
      all
      registration and filing fees (including, without limitation, fees and expenses
      (A) with respect to filings required to be made with any Trading Market on
      which
      the Common Stock is then listed for trading, (B) in compliance with applicable
      state securities or Blue Sky laws reasonably agreed to by UBPS in writing
      (including, without limitation, fees and disbursements of counsel for UBPS
      in
      connection with Blue Sky qualifications or exemptions of the Registrable
      Securities) and (C) if not previously paid by UBPS in connection with an Issuer
      Filing, with respect to any filing that may be required to be made by any broker
      through which a Holder intends to make sales of Registrable Securities with
      NASD
      Regulation, Inc. pursuant to the NASD Rule 2710, so long as the broker is
      receiving no more than a customary brokerage commission in connection with
      such
      sale, (ii) printing expenses of UBPS (including, without limitation, expenses
      of
      printing certificates for Registrable Securities, (iii) messenger, telephone
      and
      delivery expenses of UBPS, (iv) fees and disbursements of counsel for UBPS,
      (v)
      Securities Act liability insurance, if UBPS so desires such insurance, and
      (vi)
      fees and expenses of all other Persons retained by UBPS in connection with
      the
      consummation of the transactions contemplated by this Agreement. In addition,
      UBPS shall be responsible for all of its internal expenses incurred in
      connection with the consummation of the transactions contemplated by this
      Agreement (including, without limitation, all salaries and expenses of its
      officers and employees performing legal or accounting duties), the expense
      of
      any annual audit and the fees and expenses incurred in connection with the
      listing of the Registrable Securities on any securities exchange as required
      hereunder. In no event shall UBPS be responsible for any broker or similar
      commissions of any Holder, including, but not limited to, any legal fees or
      other costs of the Holders.

     

    
      
        
        

      

      
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    5. Indemnification.

     

    (a) Indemnification
      by UBPS.
      UBPS
      shall, notwithstanding any termination of this Agreement, indemnify and hold
      harmless each Holder, the officers, directors, members, partners, agents,
      brokers (including brokers who offer and sell Registrable Securities as
      principal as a result of a pledge or any failure to perform under a margin
      call
      of Common Stock), investment advisors and employees (and any other Persons
      with
      a functionally equivalent role of a Person holding such titles, notwithstanding
      a lack of such title or any other title) of each of them, each Person who
      controls any such Holder (within the meaning of Section 15 of the Securities
      Act
      or Section 20 of the Exchange Act) and the officers, directors, members,
      shareholders, partners, agents and employees (and any other Persons with a
      functionally equivalent role of a Person holding such titles, notwithstanding
      a
      lack of such title or any other title) of each such controlling Person, to
      the
      fullest extent permitted by applicable law, from and against any and all losses,
      claims, damages, liabilities, costs (including, without limitation, reasonable
      attorneys’ fees) and expenses (collectively, “Losses”),
      as
      incurred, arising out of or relating to (1) any untrue or alleged untrue
      statement of a material fact contained in a Registration Statement, any
      Prospectus or any form of prospectus or in any amendment or supplement thereto
      or in any preliminary prospectus, or arising out of or relating to any omission
      or alleged omission of a material fact required to be stated therein or
      necessary to make the statements therein (in the case of any Prospectus or
      form
      of prospectus or supplement thereto, in light of the circumstances under which
      they were made) not misleading, or (2) any violation or alleged violation by
      UBPS of the Securities Act, Exchange Act or any state securities law, or any
      rule or regulation thereunder, in connection with the performance of its
      obligations under this Agreement, except to the extent, but only to the extent,
      that (i) such untrue statements or omissions are based solely upon information
      regarding such Holder furnished in writing to UBPS by such Holder expressly for
      use therein, or to the extent that such information relates to such Holder
      or
      such Holder’s proposed method of distribution of Registrable Securities and was
      reviewed and expressly approved in writing by such Holder expressly for use
      in a
      Registration Statement, such Prospectus or such form of Prospectus or in any
      amendment or supplement thereto (it being understood that the Holder has
      approved Annex A hereto for this purpose) or (ii) in the case of an occurrence
      of an event of the type specified in Section 3(e)(iii)-(vi), the use by such
      Holder of an outdated or defective Prospectus after UBPS has notified such
      Holder in writing that the Prospectus is outdated or defective and prior to
      the
      receipt by such Holder of the Advice contemplated in Section 6(d). UBPS shall
      notify the Holders promptly of the institution, threat or assertion of any
      Proceeding arising from or in connection with the transactions contemplated
      by
      this Agreement of which UBPS is aware.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    (b) Indemnification
      by Holders.
      Each
      Holder shall, severally and not jointly, indemnify and hold harmless UBPS,
      and
      each of its directors, officers, agents and employees, each Person who controls
      UBPS (within the meaning of Section 15 of the Securities Act and Section 20
      of
      the Exchange Act), and the directors, officers, agents or employees of such
      controlling Persons (and any other Persons with a functionally equivalent role
      of a Person holding such titles, notwithstanding a lack of such title or any
      other title, to the fullest extent permitted by applicable law, from and against
      all Losses, as incurred, to the extent arising out of or based solely upon:
      (x)
      such Holder’s failure to comply with the prospectus delivery requirements of the
      Securities Act or (y) any untrue or alleged untrue statement of a material
      fact
      contained in any Registration Statement, any Prospectus, or any form of
      prospectus, or in any amendment or supplement thereto or in any preliminary
      prospectus, or arising out of or relating to any omission or alleged omission
      of
      a material fact required to be stated therein or necessary to make the
      statements therein not misleading (i) to the extent, but only to the extent,
      that such untrue statement or omission is contained in any information so
      furnished in writing by such Holder to UBPS specifically for inclusion in such
      Registration Statement or such Prospectus or (ii) to the extent that such
      information relates to such Holder’s proposed method of distribution of
      Registrable Securities and was reviewed and expressly approved in writing by
      such Holder expressly for use in a Registration Statement (it being understood
      that the Holder has approved Annex A hereto for this purpose), such Prospectus
      or such form of Prospectus or in any amendment or supplement thereto or (iii)
      in
      the case of an occurrence of an event of the type specified in Section
      3(e)(iii)-(vi), the use by such Holder of an outdated or defective Prospectus
      after UBPS has notified such Holder in writing that the Prospectus is outdated
      or defective and prior to the receipt by such Holder of the Advice contemplated
      in Section 6(d). In no event shall the liability of any selling Holder hereunder
      be greater in amount than the dollar amount of the net proceeds received by
      such
      Holder upon the sale of the Registrable Securities giving rise to such
      indemnification obligation.

     

    (c) Conduct
      of Indemnification Proceedings.
      If any
      Proceeding shall be brought or asserted against any Person entitled to indemnity
      hereunder (an “Indemnified
      Party”),
      such
      Indemnified Party shall promptly notify the Person from whom indemnity is sought
      (the “Indemnifying
      Party”)
      in
      writing, and the Indemnifying Party shall have the right to assume the defense
      thereof, including the employment of counsel reasonably satisfactory to the
      Indemnified Party and the payment of all fees and expenses incurred in
      connection with defense thereof; provided, that the failure of any Indemnified
      Party to give such notice shall not relieve the Indemnifying Party of its
      obligations or liabilities pursuant to this Agreement, except (and only) to
      the
      extent that it shall be finally determined by a court of competent jurisdiction
      (which determination is not subject to appeal or further review) that such
      failure shall have prejudiced the Indemnifying Party.

     

    An
      Indemnified Party shall have the right to employ separate counsel in any such
      Proceeding and to participate in the defense thereof, but the fees and expenses
      of such counsel shall be at the expense of such Indemnified Party or Parties
      unless: (1) the Indemnifying Party has agreed in writing to pay such fees and
      expenses; (2) the Indemnifying Party shall have failed promptly to assume the
      defense of such Proceeding and to employ counsel reasonably satisfactory to
      such
      Indemnified Party in any such Proceeding; or (3) the named parties to any such
      Proceeding (including any impleaded parties) include both such Indemnified
      Party
      and the Indemnifying Party, and counsel to the Indemnified Party shall
      reasonably believe that a material conflict of interest is likely to exist
      if
      the same counsel were to represent such Indemnified Party and the Indemnifying
      Party (in which case, if such Indemnified Party notifies the Indemnifying Party
      in writing that it elects to employ separate counsel at the expense of the
      Indemnifying Party, the Indemnifying Party shall not have the right to assume
      the defense thereof and the reasonable fees and expenses of no more than one
      separate counsel shall be at the expense of the Indemnifying Party). The
      Indemnifying Party shall not be liable for any settlement of any such Proceeding
      effected without its written consent, which consent shall not be unreasonably
      withheld or delayed. No Indemnifying Party shall, without the prior written
      consent of the Indemnified Party, effect any settlement of any pending
      Proceeding in respect of which any Indemnified Party is a party, unless such
      settlement includes an unconditional release of such Indemnified Party from
      all
      liability on claims that are the subject matter of such Proceeding.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    Subject
      to the terms of this Agreement, all reasonable fees and expenses of the
      Indemnified Party (including reasonable fees and expenses to the extent incurred
      in connection with investigating or preparing to defend such Proceeding in
      a
      manner not inconsistent with this Section) shall be paid to the Indemnified
      Party, as incurred, within ten Trading Days of written notice thereof to the
      Indemnifying Party; provided, that the Indemnified Party shall promptly
      reimburse the Indemnifying Party for that portion of such fees and expenses
      applicable to such actions for which such Indemnified Party is judicially
      determined to be not entitled to indemnification hereunder.

     

    (d) Contribution.
      If the
      indemnification under Section 5(a) or 5(b) is unavailable to an Indemnified
      Party or insufficient to hold an Indemnified Party harmless for any Losses,
      then
      each Indemnifying Party shall contribute to the amount paid or payable by such
      Indemnified Party, in such proportion as is appropriate to reflect the relative
      fault of the Indemnifying Party and Indemnified Party in connection with the
      actions, statements or omissions that resulted in such Losses 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 any action in question, including any untrue or alleged untrue
      statement of a material fact or omission or alleged omission of a material
      fact,
      has been taken or made by, or relates to information supplied by, such
      Indemnifying Party or Indemnified Party, and the parties’ relative intent,
      knowledge, access to information and opportunity to correct or prevent such
      action, statement or omission. The amount paid or payable by a party as a result
      of any Losses shall be deemed to include, subject to the limitations set forth
      in this Agreement, any reasonable attorneys’ or other fees or expenses incurred
      by such party in connection with any Proceeding to the extent such party would
      have been indemnified for such fees or expenses if the indemnification provided
      for in this Section was available to such party in accordance with its
      terms.

     

    The
      parties hereto agree that it would not be just and equitable if contribution
      pursuant to this Section 5(d) were determined by pro rata allocation or by
      any
      other method of allocation that does not take into account the equitable
      considerations referred to in the immediately preceding paragraph.
      Notwithstanding the provisions of this Section 5(d), no Holder shall be required
      to contribute, in the aggregate, any amount in excess of the amount by which
      the
      net proceeds actually received by such Holder from the sale of the Registrable
      Securities subject to the Proceeding exceeds the amount of any damages that
      such
      Holder has otherwise been required to pay by reason of such untrue or alleged
      untrue statement or omission or alleged omission, except in the case of fraud
      by
      such Holder.

     

    The
      indemnity and contribution agreements contained in this Section are in addition
      to any liability that the Indemnifying Parties may have to the Indemnified
      Parties.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    6. Miscellaneous.

     

    (a) Remedies.
      In the
      event of a breach by UBPS or by a Holder, of any of their respective obligations
      under this Agreement, each Holder or UBPS, as the case may be, in addition
      to
      being entitled to exercise all rights granted by law and under this Agreement,
      including recovery of damages, will be entitled to specific performance of
      its
      rights under this Agreement. UBPS and each Holder agree that monetary damages
      would not provide adequate compensation for any losses incurred by reason of
      a
      breach by it of any of the provisions of this Agreement and hereby further
      agrees that, in the event of any action for specific performance in respect
      of
      such breach, it shall not assert or shall waive the defense that a remedy at
      law
      would be adequate.

     

    (b) No
      Piggyback on Registrations.
      Except
      as set forth on Schedule 6(b) attached hereto, neither UBPS nor any of its
      security holders (other than the Holders in such capacity pursuant hereto)
      may
      include securities of UBPS in any Registration Statement other than the
      Registrable Securities. Except with respect to the shares set forth on Schedule
      6(b) hereto, UBPS shall not file any other registration statements until there
      is an effective Registration Statement(s) pursuant to which the Holders are
      permitted to utilize a Prospectus to resell all Registrable Securities or such
      Registrable Securities may be resold by the Holders pursuant to Rule 144(k),
      provided that this Section 6(b) shall not prohibit UBPS from filing amendments
      to registration statements filed prior to the date of this
      Agreement.

     

    (c) Compliance.
      Each
      Holder covenants and agrees that it will comply with the prospectus delivery
      requirements of the Securities Act as applicable to it in connection with sales
      of Registrable Securities pursuant to a Registration Statement.

     

    (d) Discontinued
      Disposition.
      Each
      Holder agrees by its acquisition of Registrable Securities that, upon receipt
      of
      a notice from UBPS of the occurrence of any event of the kind described in
      Section 3(e)(iii) through (vi), such Holder will forthwith discontinue
      disposition of such Registrable Securities under a Registration Statement until
      it is advised in writing (the “Advice”)
      by
      UBPS that the use of the applicable Prospectus (as it may have been supplemented
      or amended) may be resumed. UBPS will use its best efforts to ensure that the
      use of the Prospectus may be resumed as promptly as it practicable. UBPS agrees
      and acknowledges that any periods during which the Holder is required to
      discontinue the disposition of the Registrable Securities hereunder shall be
      subject to the provisions of Section 2(b).

     

    (e) Piggy-Back
      Registrations.
      If at
      any time during the Effectiveness Period there is not an effective Registration
      Statement covering all of the Registrable Securities and UBPS shall determine
      to
      prepare and file with the SEC a registration statement relating to an offering
      for its own account or the account of others under the Securities Act of any
      of
      its equity securities, other than on Form S-4 or Form S-8 (each as promulgated
      under the Securities Act) or their then equivalents relating to equity
      securities to be issued solely in connection with any acquisition of any entity
      or business or equity securities issuable in connection with the stock option
      or
      other employee benefit plans, then UBPS shall send to each Holder a written
      notice of such determination and, if within fifteen days after the date of
      such
      notice, any such Holder shall so request in writing, UBPS shall include in
      such
      registration statement all or any part of such Registrable Securities such
      Holder requests to be registered; provided,
      however,
      that,
      UBPS shall not be required to register any Registrable Securities pursuant
      to
      this Section 6(e) that are eligible for resale pursuant to Rule 144(k)
      promulgated under the Securities Act or that are the subject of a then effective
      Registration Statement.

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    (f) Amendments
      and Waivers.
      The
      provisions of this Agreement, including the provisions of this sentence, may
      not
      be amended, modified or supplemented, and waivers or consents to departures
      from
      the provisions hereof may not be given, unless the same shall be in writing
      and
      signed by UBPS and Holders holding at least 67% of the then outstanding
      Registrable Securities. Notwithstanding the foregoing, a waiver or consent
      to
      depart from the provisions hereof with respect to a matter that relates
      exclusively to the rights of Holders and that does not directly or indirectly
      affect the rights of other Holders may be given by Holders of all of the
      Registrable Securities to which such waiver or consent relates; provided,
      however,
      that
      the provisions of this sentence may not be amended, modified, or supplemented
      except in accordance with the provisions of the immediately preceding
      sentence.

     

    (g) Notices.
      Any and
      all notices or other communications or deliveries required or permitted to
      be
      provided hereunder shall be delivered as set forth in the Subscription
      Agreement.

     

    (h) Successors
      and Assigns.
      This
      Agreement shall inure to the benefit of and be binding upon the successors
      and
      permitted assigns of each of the parties and shall inure to the benefit of
      each
      Holder. UBPS may not assign (except by merger) its rights or obligations
      hereunder without the prior written consent of all of the Holders of the
      then-outstanding Registrable Securities. Each Holder may assign their respective
      rights hereunder in the manner and to the Persons as permitted under the
      Subscription Agreement.

     

    (i) No
      Inconsistent Agreements.
      Neither
      UBPS nor any of its Subsidiaries has entered, as of the date hereof, nor shall
      UBPS or any of its Subsidiaries, on or after the date of this Agreement, enter
      into any agreement with respect to its securities, that would have the effect
      of
      impairing the rights granted to the Holders in this Agreement or otherwise
      conflicts with the provisions hereof. Except as set forth on Schedule 6(i),
      neither UBPS nor any of its subsidiaries has previously entered into any
      agreement granting any registration rights with respect to any of its securities
      to any Person that have not been satisfied in full.

     

    (j) Execution
      and Counterparts.
      This
      Agreement may be executed in two or more counterparts, all of which when taken
      together shall be considered one and the same agreement and shall become
      effective when counterparts have been signed by each party and delivered to
      the
      other party, it being understood that both parties need not sign the same
      counterpart. In the event that any signature is delivered by facsimile
      transmission or by e-mail delivery of a “.pdf’ format data file, such signature
      shall create a valid and binding obligation of the party executing (or on whose
      behalf such signature is executed) with the same force and effect as if such
      facsimile or “.pdf’ signature page were an original thereof.

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    (k) Governing
      Law.
      All
      questions concerning the construction, validity, enforcement and interpretation
      of this Agreement shall be determined in accordance with the provisions of
      the
      Subscription Agreement.

     

    (l) Cumulative
      Remedies.
      The
      remedies provided herein are cumulative and not exclusive of any other remedies
      provided by law.

     

    (m) Severability.
      If any
      term, provision, covenant or restriction of this Agreement is held by a court
      of
      competent jurisdiction to be invalid, illegal, void or unenforceable, the
      remainder of the terms, provisions, covenants and restrictions set forth herein
      shall remain in full force and effect and shall in no way be affected, impaired
      or invalidated, and the parties hereto shall use their commercially reasonable
      efforts to find and employ an alternative means to achieve the same or
      substantially the same result as that contemplated by such term, provision,
      covenant or restriction. It is hereby stipulated and declared to be the
      intention of the parties that they would have executed the remaining terms,
      provisions, covenants and restrictions without including any of such that may
      be
      hereafter declared invalid, illegal, void or unenforceable.

     

    (n) Headings.
      The
      headings in this Agreement are for convenience only, do not constitute a part
      of
      this Agreement and shall not be deemed to limit or affect any of the provisions
      hereof.

     

    (o) Independent
      Nature of Holders’ Obligations and Rights.
      The
      obligations of each Holder hereunder are several and not joint with the
      obligations of any other Holder hereunder, and no Holder shall be responsible
      in
      any way for the performance of the obligations of any other Holder hereunder,
      Nothing contained herein or in any other agreement or document delivered at
      any
      closing, and no action taken by any Holder pursuant hereto or thereto, shall
      be
      deemed to constitute the Holders as a partnership, an association, a joint
      venture or any other kind of entity, or create a presumption that the Holders
      are in any way acting in concert with respect to such obligations or the
      transactions contemplated by this Agreement. Each Holder 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 Holder to
      be
      joined as an additional party in any proceeding for such purpose. 

     

    **********************

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the parties have executed this Registration Rights Agreement
      as
      of the date first written above.

     

    
      	 	
              UNITED
                BENEFITS & PENSION SERVICES,

              INC.

            
	 	 	 
	 	
              By:

            	 
	 	 	
              Name:

            
	 	 	
              Title:

            

    

     

     

    [SIGNATURE
      PAGE OF HOLDERS FOLLOWS]

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

    
      Exhibit
        4.2

    

     

    [SIGNATURE
      PAGE OF HOLDERS TO UBPS REGISTRATION RIGHTS AGREEMENT]

     

    Name
      of
      Holder: _________________________________________________________

    Signature
      of Authorized Signatory of Investing Entity:
      

    ___________________________________

    Name
      of
      Authorized Signatory: 

    _____________________________________________________

    Title
      of
      Authorized Signatory:

     ______________________________________________________

     

    [SIGNATURE
      PAGES CONTINUE]

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

    SCHEDULE
      6(b)

     

    UBPS
      is
      required to include in any Registration Statement filed with the SEC following
      the completion of the Offering contemplated in the Memorandum 232,000 shares
      of
      UBPS Common Stock issuable upon conversion of the Bridge Notes (as defined
      in
      the Memorandum). 

     

    UBPS
      is
      required to include in a Registration Statement filed with the SEC following
      the
      completion of the Debt Offering (as defined in the Memorandum) and the Offering
      contemplated in the Memorandum all of the shares issuable upon exercise of
      the
      Noteholder Warrants (as defined in the Memorandum).

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

    SCHEDULE
      6(i)

     

    UBPS
      previously entered into an Amended and Restated Note Purchase Agreement, which
      requires UBPS to file a registration statement with the SEC to register for
      resale [232,000] shares of UBPS Common Stock issuable upon conversion of the
      Bridge Notes (as defined in the Memorandum) within 60 days after the closing
      of
      the Offering, or sooner if a registration statement registering any other UBPS
      Common Stock is filed prior to the expiration of such 60-day period.

     

    Pursuant
      to an agreement entered into with the holders of the Senior Secured Notes (as
      defined in the Memorandum), UBPS is required to include in a Registration
      Statement filed with the SEC following the completion of the Debt Offering
      (as
      defined in the Memorandum) and the Offering contemplated in the Memorandum
      all
      of the shares issuable upon exercise of the Noteholder Warrants (as defined
      in
      the Memorandum).

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

    ANNEX
      A

     

    Plan
      of Distribution

     

    Each
      Selling Stockholder (the “Selling
      Stockholders”)
      of the
      common stock and any of their pledgees, assignees and successors-in-interest
      may, from time to time, sell any or all of their shares of common stock on
      the
      OTC Bulletin Board or any other stock exchange, market or trading facility
      on
      which the shares are traded or in private transactions. These sales may be
      at
      fixed or negotiated prices. A Selling Stockholder may use any one or more of
      the
      following methods when selling shares:

     

    
      	 	
              •

            	
              ordinary
                brokerage transactions and transactions in which the broker-dealer
                solicits purchasers;

            

    

     

    
      	 	
              •

            	
              block
                trades in which the broker-dealer will attempt to sell the shares
                as agent
                but may position and resell a portion of the block as principal to
                facilitate the transaction;

            

    

     

    
      	 	
              •

            	
              purchases
                by a broker-dealer as principal and resale by the broker-dealer for
                its
                account;

            

    

     

    
      	 	
              •

            	
              an
                exchange distribution in accordance with the rules of the applicable
                exchange;

            

    

     

    
      	 	
              •

            	
              privately
                negotiated transactions;

            

    

     

    
      	 	
              •

            	
              settlement
                of short sales entered into after the effective date of the registration
                statement of which this prospectus is a
                part;

            

    

     

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

            

    

     

    
      	 	
              •

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

            

    

     

    
      	 	
              •

            	
              a
                combination of any such methods of sale;
                or

            

    

     

    
      	 	
              •

            	
              any
                other method permitted pursuant to applicable
                law.

            

    

     

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

     

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

     

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

    

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

    

    Under
      applicable rules and regulations under the Securities Exchange Act of 1934,
      any
      person engaged in the distribution of the resale shares may not simultaneously
      engage in market making activities with respect to the common stock for the
      applicable restricted period, as defined in Regulation M, prior to the
      commencement of the distribution. In addition, the Selling Stockholders will
      be
      subject to applicable provisions of the Exchange Act and the rules and
      regulations thereunder, including Regulation M, which may limit the timing
      of
      purchases and sales of shares of the common stock by the Selling Stockholders
      or
      any other person. We will make copies of this prospectus available to the
      Selling Stockholders and have informed them of the need to deliver a copy of
      this prospectus to each purchaser at or prior to the time of the sale (including
      by compliance with Rule 172 under the Securities Act). 

     

    
      
        
        

      

      
        21

        
          

        

      

      
        
        

      

    

    Annex
      B

     

    UNITED
      BENEFITS & PENSION SERVICES, INC.

     

    Selling
      Securityholder Notice and Questionnaire

     

    The
      undersigned beneficial owner of common stock (the “Registrable
      Securities”)
      of
      United Benefits & Pension Services, Inc., a Delaware corporation (the
“Company”),
      understands that the Company has filed or intends to file with the Securities
      and Exchange Commission (the “SEC”)
      a
      registration statement (the “Registration.
      Statement”)
      for
      the registration and resale under Rule 415 of the Securities Act of 1933, as
      amended (the “Securities
      Act”),
      of
      the Registrable Securities, in accordance with the terms of the Registration
      Rights Agreement (the “Registration
      Rights Agreement”)
      to
      which this document is annexed. A copy of the Registration Rights Agreement
      is
      available from the Company upon request at the address set forth below. All
      capitalized terms not otherwise defined herein shall have the meanings ascribed
      thereto in the Registration Rights Agreement.

     

    Certain
      legal consequences arise from being named as a selling securityholder in the
      Registration Statement and the related prospectus. Accordingly, holders and
      beneficial owners of Registrable Securities are advised to consult their own
      securities law counsel regarding the consequences of being named or not being
      named as a selling securityholder in the Registration Statement and the related
      prospectus.

     

    NOTICE

     

    The
      undersigned beneficial owner (the “Selling Securityholder”) of Registrable
      Securities hereby elects to include the Registrable Securities owned by it
      in
      the Registration Statement. 

     

    
      
        
        

      

      
        22

        
          

        

      

      
        
        

      

    

    The
      undersigned hereby provides the following information to the Company and
      represents and warrants that such information is accurate:

     

    QUESTIONNAIRE

     

    
      	1.	
              Name.

            

    

     

    
      	 	
              (a)

            	
              Full
                Legal Name of Selling
                Securityholder

            

    

     

    
      
        	 	 
	 	 

      

    

     

    
      	 	
              (b)

            	
              Full
                Legal Name of Registered Holder (if not the same as (a) above) through
                which Registrable Securities are
                held:

            

    

     

    
      	
            	 
	 	 

    

     

    
      	 	
              (c)

            	
              Full
                Legal Name of Natural Control Person (which means a natural person
                who
                directly or indirectly alone or with others has power to vote or
                dispose
                of the securities covered by the
                questionnaire):

            

    

     

    
      	2.	
              Address
                for Notices to Selling
                Securityholder:

            

    

     

    
      	 
	 
	 
	 
	 

    

     

    
      	Telephone: 	 
	  
	Fax: 	 
	  
	Contact Person: 	 
	 

    

     

    
      	3.	
              Broker-Dealer
                Status:

            

    

     

    
      	 	
              (a)

            	
              Are
                you a broker-dealer?

            

    

     

    Yes  No

     

    
      	 	
              (b)

            	
              if
                “yes” to Section 3(a), did you receive your Registrable Securities as
                compensation for investment banking services to the
                Company.

            

    

     

    Yes  No

     

    
      
        
        

      

      
        23

        
          

        

      

      
        
        

      

    

    Note: If
      no,
      the SEC’s staff has indicated that you should be identified as an underwriter in
      the Registration Statement.

     

    
      	 	
              (c)

            	
              Are
                you an affiliate of a
                broker-dealer?

            

    

     

    Yes  No

     

    
      	 	
              (d)

            	
              If
                you are, an affiliate of a broker-dealer, do you certify that you
                bought
                the Registrable Securities in the ordinary course of business, and
                at the
                time of the purchase of the Registrable Securities to be resold,
                you had
                no agreements or understandings, directly or indirectly, with any
                person
                to distribute the Registrable
                Securities?

            

    

     

    Yes  No

     

    Note: If
      no,
      the SEC’s staff has indicated that you should be identified as an underwriter in
      the Registration Statement.

     

    
      	4.	
              Beneficial
                Ownership of Other Securities of the Company Owned by the Selling
                Securityholder.

            

    

     

    Except
      as set forth below in this Item 4, the undersigned is not the beneficial or
      registered owner of any securities of the Company other than the securities
      issuable pursuant to the Subscription Agreement.

     

    
      	 	
              (a)

            	
              Type
                and Amount of other securities beneficially owned by the Selling
                Securityholder:

            

    

     

    
      	
            	 
	 	 

    

    
      	
            	 
	 	 

    

     

    
      	5.	
              Relationships
                with the Company:

            

    

     

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

     

    State
      any
      exceptions here: 

     

    
      	
            	 
	 	 

      	
            	 
	 	 

    

     

    
      
        
          
            
            

          

          
            24

            
              

            

          

          
            
            

          

        

      

    

     

    The
      undersigned agrees to promptly notify the Company of any inaccuracies or changes
      in the information provided herein that may occur subsequent to the date hereof
      at any time while the Registration Statement remains effective.

     

    By
      signing below, the undersigned consents to the disclosure of the information
      contained herein in its answers to Items 1 through 5 and the inclusion of such
      information in the Registration Statement and the related prospectus and any
      amendments or supplements thereto. The undersigned understands that such
      information will be relied upon by the Company in connection with the
      preparation or amendment of the Registration Statement and the related
      prospectus.

     

    IN
      WITNESS WHEREOF the undersigned, by authority duly given, has caused this Notice
      and Questionnaire to be executed and delivered either in person or by its duly
      authorized agent.

     

    
      	
              Dated:

            	 	
               
                Beneficial Owner:

            	 

    

     

    
      
        	 	
                By:

              	 
	 	 	
                Name:

              
	 	 	
                Title:

              

      

    

     

    PLEASE
      FAX A COPY OF THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE, AND RETURN
      THE ORIGINAL BY OVERNIGHT MAIL, TO:

     

    
      
        
        

      

      
        25Exhibit
      4.3

     

    REGISTRATION
      RIGHTS AGREEMENT

    

    This
      Registration Rights Agreement (this “Agreement”)
      is
      made and entered into as of November 30, 2007, between United Benefits &
Pension Services, Inc., a Delaware corporation (the “Company”),
      and
      the purchasers signatory hereto (the “Purchasers”).

    

    This
      Agreement is made pursuant to the Securities Purchase Agreement, dated as of
      the
      date hereof among the Company, UBPS and the Purchasers (the “Purchase
      Agreement”).

    

    The
      Company and the Purchaser hereby agree as follows:

    

    1.
      Definitions

    

    Capitalized
      terms used and not otherwise defined herein that are defined in the Purchase
      Agreement shall have the meanings given such terms in the Purchase
      Agreement.
      As used
      in this Agreement, the following terms shall have the following
      meanings:

    

    “Advice”
shall
      have the meaning set forth in Section 6(d).

    

    “Effectiveness
      Date”
means,
      with respect to the initial Registration Statement required to be filed
      hereunder, the 180th
      calendar
      day following the date of the closing of the Acquisition (December 17, 2007)
      and, with respect to any additional Registration Statements which may be
      required pursuant to Section 3(c), the 90th
      calendar
      day following the date on which the Company first knows, or reasonably should
      have known, that such additional Registration Statement is required hereunder;
      provided,
      however,
      in the
      event the Company is notified by the Commission that one of the above
      Registration Statements will not be reviewed or is no longer subject to further
      review and comments, the Effectiveness Date as to such Registration Statement
      shall be the fifth Trading Day following the date on which the Company is so
      notified if such date precedes the dates required above.

    

    “Effectiveness
      Period”
shall
      have the meaning set forth in Section 2(a).

    

    “Event”
shall
      have the meaning set forth in Section 2(b).

    

    “Event
      Date”
shall
      have the meaning set forth in Section 2(b).

    

    “Filing
      Date”
means,
      with respect to the initial Registration Statement required hereunder, the
      60th
      calendar day following the date of the closing of the Acquisition (December
      17,
      2007) and, with respect to any additional Registration Statements which may
      be
      required pursuant to Section 3(c), the 30th day following the date on which
      the
      Company first knows, or reasonably should have known that such additional
      Registration Statement is required hereunder.

    

    “Holder”
or
      “Holders”
means
      the holder or holders, as the case may be, from time to time of Registrable
      Securities.

    

    “Indemnified
      Party”
shall
      have the meaning set forth in Section 5(c).

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    “Indemnifying
      Party”
shall
      have the meaning set forth in Section 5(c).

    

    “Losses”
shall
      have the meaning set forth in Section 5(a).

    

    “Proceeding”
means
      an action, claim, suit, investigation or proceeding (including, without
      limitation, an investigation or partial proceeding, such as a deposition),
      whether commenced or threatened.

    

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

    

    “Registrable
      Securities”
means
      (i) all Issued Shares, (ii) all Warrant Shares, (iii) any securities issued
      or
      issuable upon any stock split, dividend or other distribution recapitalization
      or similar event with respect to the foregoing and (iv) any additional shares
      issuable in connection with any anti-dilution provisions in the
      Warrants.

     

    “Registration
      Statement”
means
      the registration statements required to be filed hereunder and any additional
      registration statements contemplated by Section 3(c), including (in each case)
      the Prospectus, amendments and supplements to such registration statement or
      Prospectus, including pre- and post-effective amendments, all exhibits thereto,
      and all material incorporated by reference or deemed to be incorporated by
      reference in such registration statement.

    

    “Rule
      415”
means
      Rule 415 promulgated by the Commission pursuant to the Securities Act, as such
      Rule may be amended from time to time, or any similar rule or regulation
      hereafter adopted by the Commission having substantially the same purpose and
      effect as such Rule.

    

    “Rule
      424”
means
      Rule 424 promulgated by the Commission pursuant to the Securities Act, as such
      Rule may be amended from time to time, or any similar rule or regulation
      hereafter adopted by the Commission having substantially the same purpose and
      effect as such Rule.

    

    2.
       Registration

    

    (a)
      The
      Company shall prepare and file with the Commission a Registration Statement
      covering the resale of 125% of the Registrable Securities for an offering to
      be
      made on a continuous basis pursuant to Rule 415 (or such lesser amount in
      accordance with the Commission’s current interpretations and guidance for such
      offerings). The Registration Statement shall be on Form SB-2 (except if the
      Company is not then eligible to register for resale the Registrable Securities
      on Form SB-2, in which case such registration shall be on another appropriate
      form in accordance herewith) and shall contain (unless otherwise directed by
      the
      Holders) substantially the “Plan of Distribution” attached hereto as
Annex
      A.
      Subject
      to the terms of this Agreement, the Company shall use its best efforts to cause
      the Registration Statement to be declared effective under the Securities Act
      as
      promptly as possible after the filing thereof, but in any event prior to the
      applicable Effectiveness Date, and shall use its best efforts to keep such
      Registration Statement continuously effective under the Securities Act until
      all
      Registrable Securities covered by such Registration Statement have been sold
      or
      may be sold without volume restrictions pursuant to Rule 144(k) as determined
      by
      the counsel to the Company pursuant to a written opinion letter to such effect,
      addressed and acceptable to the Company’s transfer agent and the affected
      Holders (the “Effectiveness
      Period”).
      The
      Company shall immediately notify the Holders via facsimile of the effectiveness
      of the Registration Statement on the same day that the Company receives
      notification of the effectiveness from the Commission. Failure to so notify
      the
      Holder within 1 Trading Day of such notification shall be deemed an Event under
      Section 2(b).

     

    
      
        
        

      

      
        2
          of
          21

        
          

        

      

      
        
        

      

    

    

    (b)
      If:
      (i) a Registration Statement is not filed on or prior to its Filing Date (if
      the
      Company files a Registration Statement without affording the Holders the
      opportunity to review and comment on the same as required by Section 3(a),
      the
      Company shall not be deemed to have satisfied this clause (i)), or (ii) the
      Company fails to file with the Commission a request for acceleration in
      accordance with Rule 461 promulgated under the Securities Act, within five
      Trading Days of the date that the Company is notified (orally or in writing,
      whichever is earlier) by the Commission that a Registration Statement will
      not
      be “reviewed,” or not subject to further review; or (iii) prior to its
      Effectiveness Date, the Company fails to file a pre-effective amendment and
      otherwise respond in writing to comments made by the Commission in respect
      of
      such Registration Statement within 30 calendar days after the receipt of
      comments by or notice from the Commission that such amendment is required in
      order for a Registration Statement to be declared effective; or (iv) a
      Registration Statement filed or required to be filed hereunder is not declared
      effective by the Commission by its Effectiveness Date; or (v) after the
      Effectiveness Date, a Registration Statement ceases for any reason to remain
      continuously effective as to all Registrable Securities for which it is required
      to be effective, or the Holders are not permitted to utilize the Prospectus
      therein to resell such Registrable Securities for 10 consecutive calendar days
      but no more than an aggregate of 15 calendar days during any 12-month period
      (which need not be consecutive Trading Days) (any such failure or breach being
      referred to as an “Event”,
      and
      for purposes of clause (ii) or (iv) the date on which such Event occurs, or
      for
      purposes of clause (ii) the date on which such five Trading Day period is
      exceeded, or for purposes of clause (iii) the date which such 30 calendar day
      period is exceeded, or for purposes of clause (v) the date on which such 10
      or
      15 calendar day period, as applicable, is exceeded being referred to as
“Event
      Date”),
      then
      in addition to any other rights the Holders may have hereunder or under
      applicable law, on each such Event Date and on each monthly anniversary of
      each
      such Event Date (if the applicable Event shall not have been cured by such
      date)
      until the applicable Event is cured, the Company shall pay to each Holder an
      amount in cash, as partial liquidated damages and not as a penalty, equal to
      1.5% of the outstanding principal of the Notes for any Registrable Securities
      then held by such Holder for the first 30 days (or part thereof) after the
      60th
      or 180th day, as the case may be, and an additional 1.5% for any subsequent
      30-day period (or part thereof), thereafter. If the Company fails to pay any
      partial liquidated damages pursuant to this Section in full within seven days
      after the date payable, the Company will pay interest thereon at a rate of
      18%
      per annum (or such lesser maximum amount that is permitted to be paid by
      applicable law) to the Holder, accruing daily from the date such partial
      liquidated damages are due until such amounts, plus all such interest thereon,
      are paid in full. The partial liquidated damages pursuant to the terms hereof
      shall apply on a daily pro-rata basis for any portion of a month prior to the
      cure of an Event. Anything to the contrary notwithstanding, total liquidated
      damages hereunder shall be capped at 18% of the outstanding principal amount
      of
      the Notes.

     

    
      
        
        

      

      
        3
          of
          21

        
          

        

      

      
        
        

      

    

    

    3.
      Registration
      Procedures

    

    In
      connection with the Company’s registration obligations hereunder, the Company
      shall:

    

    (a) Not
      less
      than five Trading Days prior to the filing of each Registration Statement or
      any
      related Prospectus or any amendment or supplement thereto (including any
      document that would be incorporated or deemed to be incorporated therein by
      reference), the Company shall, (i) furnish to each Holder copies of all such
      documents proposed to be filed, which documents (other than those incorporated
      or deemed to be incorporated by reference) will be subject to the review of
      such
      Holders, and (ii) cause its officers and directors, counsel and independent
      certified public accountants to respond to such inquiries as shall be necessary,
      in the reasonable opinion of respective counsel to conduct a reasonable
      investigation within the meaning of the Securities Act. The Company shall not
      file the Registration Statement or any such Prospectus or any amendments or
      supplements thereto to which the Holders of a majority of the Registrable
      Securities shall reasonably object in good faith, provided that, the Company
      is
      notified of such objection in writing no later than 5 Trading Days after the
      Holders have been so furnished copies of such documents and provided further
      that the Company will not be subject to the liquidated damages payments
      referenced in Section 2(b) if such objection is delivered to the Company within
      such five day period. Each Holder agrees to furnish to the Company a completed
      Questionnaire in the form attached to this Agreement as Annex B (a “Selling
      Holder Questionnaire”)
      not
      less than two Trading Days prior to the Filing Date or by the end of the fourth
      Trading Day following the date on which such Holder receives draft materials
      in
      accordance with this Section. 

    

    (b) (i)
      Prepare and file with the Commission such amendments, including post-effective
      amendments, to a Registration Statement and the Prospectus used in connection
      therewith as may be necessary to keep a Registration Statement continuously
      effective as to the applicable Registrable Securities for the Effectiveness
      Period and prepare and file with the Commission such additional Registration
      Statements in order to register for resale under the Securities Act all of
      the
      Registrable Securities; (ii) cause the related Prospectus to be amended or
      supplemented by any required Prospectus supplement (subject to the terms of
      this
      Agreement), and as so supplemented or amended to be filed pursuant to Rule
      424;
      (iii) respond as promptly as reasonably possible to any comments received from
      the Commission with respect to a Registration Statement or any amendment thereto
      and as promptly as reasonably possible provide the Holders true and complete
      copies of all correspondence from and to the Commission relating to a
      Registration Statement; and (iv) comply in all material respects with the
      provisions of the Securities Act and the Exchange Act with respect to the
      disposition of all Registrable Securities covered by a Registration Statement
      during the applicable period in accordance (subject to the terms of this
      Agreement) with the intended methods of disposition by the Holders thereof
      set
      forth in such Registration Statement as so amended or in such Prospectus as
      so
      supplemented.

    

    (c) If
      during
      the Effectiveness Period, the number of Registrable Securities at any time
      exceeds 90% of the number of shares of Common Stock then registered in a
      Registration Statement, then the Company shall file as soon as reasonably
      practicable but in any case prior to the applicable Filing Date, an additional
      Registration Statement covering the resale by the Holders of not less than
      125%
      of the number of such Registrable Securities.

     

    
      
        
        

      

      
        4
          of
          21

        
          

        

      

      
        
        

      

    

    

    (d) Notify
      the Holders of Registrable Securities to be sold (which notice shall, pursuant
      to clauses (ii) through (vi) hereof, be accompanied by an instruction to suspend
      the use of the Prospectus until the requisite changes have been made) as
      promptly as reasonably possible (and, in the case of (i)(A) below, not less
      than
      five Trading Days prior to such filing) and (if requested by any such Person)
      confirm such notice in writing no later than one Trading Day following the
      day
      (i)(A) when a Prospectus or any Prospectus supplement or post-effective
      amendment to a Registration Statement is proposed to be filed; (B) when the
      Commission notifies the Company whether there will be a “review” of such
      Registration Statement and whenever the Commission comments in writing on such
      Registration Statement (the Company shall provide true and complete copies
      thereof and all written responses thereto to each of the Holders); and (C)
      with
      respect to a Registration Statement or any post-effective amendment, when the
      same has become effective; (ii) of any request by the Commission or any other
      Federal or state governmental authority for amendments or supplements to a
      Registration Statement or Prospectus or for additional information; (iii) of
      the
      issuance by the Commission or any other federal or state governmental authority
      of any stop order suspending the effectiveness of a Registration Statement
      covering any or all of the Registrable Securities or the initiation of any
      Proceedings for that purpose; (iv) of the receipt by the Company of any
      notification with respect to the suspension of the qualification or exemption
      from qualification of any of the Registrable Securities for sale in any
      jurisdiction, or the initiation or threatening of any Proceeding for such
      purpose; (v) of the occurrence of any event or passage of time that makes the
      financial statements included in a Registration Statement ineligible for
      inclusion therein or any statement made in a Registration Statement or
      Prospectus or any document incorporated or deemed to be incorporated therein
      by
      reference untrue in any material respect or that requires any revisions to
      a
      Registration Statement, Prospectus or other documents so that, in the case
      of a
      Registration Statement or the Prospectus, as the case may be, it will not
      contain any untrue statement of a material fact or omit to state any material
      fact required to be stated therein or necessary to make the statements therein,
      in light of the circumstances under which they were made, not misleading; and
      (vi) the occurrence or existence of any pending corporate development with
      respect to the Company that the Company believes may be material and that,
      in
      the determination of the Company, makes it not in the best interest of the
      Company to allow continued availability of the Registration Statement or
      Prospectus; provided that any and all of such information shall remain
      confidential to each Holder until such information otherwise becomes public,
      unless disclosure by a Holder is required by law; provided,
      further,
      notwithstanding each Holder’s agreement to keep such information confidential,
      the Holders make no acknowledgement that any such information is material,
      non-public information.

    

    (e) Use
      its
      best efforts to avoid the issuance of, or, if issued, obtain the withdrawal
      of
      (i) any order suspending the effectiveness of a Registration Statement, or
      (ii)
      any suspension of the qualification (or exemption from qualification) of any
      of
      the Registrable Securities for sale in any jurisdiction, at the earliest
      practicable moment.

    

    (f) Furnish
      to each Holder, without charge, at least one conformed copy of each such
      Registration Statement and each amendment thereto, including financial
      statements and schedules, all documents incorporated or deemed to be
      incorporated therein by reference to the extent requested by such Person, and
      all exhibits to the extent requested by such Person (including those previously
      furnished or incorporated by reference) promptly after the filing of such
      documents with the Commission.

    

    (g) Promptly
      deliver to each Holder, without charge, as many copies of the Prospectus or
      Prospectuses (including each form of prospectus) and each amendment or
      supplement thereto as such Persons may reasonably request in connection with
      resales by the Holder of Registrable Securities. Subject to the terms of this
      Agreement, the Company hereby consents to the use of such Prospectus and each
      amendment or supplement thereto by each of the selling Holders in connection
      with the offering and sale of the Registrable Securities covered by such
      Prospectus and any amendment or supplement thereto, except after the giving
      on
      any notice pursuant to Section 3(d).

     

    
      
        
        

      

      
        5
          of
          21

        
          

        

      

      
        
        

      

    

    

    (h) Prior
      to
      any resale of Registrable Securities by a Holder, use its commercially
      reasonable efforts to register or qualify or cooperate with the selling Holders
      in connection with the registration or qualification (or exemption from the
      Registration or qualification) of such Registrable Securities for the resale
      by
      the Holder under the securities or Blue Sky laws of such jurisdictions within
      the United States as any Holder reasonably requests in writing, to keep each
      registration or qualification (or exemption therefrom) effective during the
      Effectiveness Period and to do any and all other acts or things reasonably
      necessary to enable the disposition in such jurisdictions of the Registrable
      Securities covered by each Registration Statement; provided, that the Company
      shall not be required to qualify generally to do business in any jurisdiction
      where it is not then so qualified, subject the Company to any material tax
      in
      any such jurisdiction where it is not then so subject or file a general consent
      to service of process in any such jurisdiction.

    

    (i) If
      requested by the Holders, cooperate with the Holders to facilitate the timely
      preparation and delivery of certificates representing Registrable Securities
      to
      be delivered to a transferee pursuant to a Registration Statement, which
      certificates shall be free, to the extent permitted by the Purchase Agreement,
      of all restrictive legends, and to enable such Registrable Securities to be
      in
      such denominations and registered in such names as any such Holders may
      request.

    

    (j) Upon
      the
      occurrence of any event contemplated by this Section 3, as promptly as
      reasonably possible under the circumstances taking into account the Company’s
      good faith assessment of any adverse consequences to the Company and its
      stockholders of the premature disclosure of such event, prepare a supplement
      or
      amendment, including a post-effective amendment, to a Registration Statement
      or
      a supplement to the related Prospectus or any document incorporated or deemed
      to
      be incorporated therein by reference, and file any other required document
      so
      that, as thereafter delivered, neither a Registration Statement nor such
      Prospectus will contain 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, in light of the circumstances under which they were made,
      not misleading. If
      the
      Company notifies the Holders in accordance with clauses (ii) through (v) of
      Section 3(d) above to suspend the use of any Prospectus until the requisite
      changes to such Prospectus have been made, then the Holders shall suspend use
      of
      such Prospectus. The Company will use its best efforts to ensure that the use
      of
      the Prospectus may be resumed as promptly as is practicable. The Company shall
      be entitled to exercise its right under this Section 3(j) to suspend the
      availability of a Registration Statement and Prospectus, subject to the payment
      of partial liquidated damages pursuant to Section 2(b), for a period not to
      exceed 60 days (which need not be consecutive days) in any 12 month
      period.

    

    (k) Comply
      with all applicable rules and regulations of the Commission.

    

    (l) The
      Company may require each selling Holder to furnish to the Company a certified
      statement as to the number of shares of Common Stock beneficially owned by
      such
      Holder and, if required by the Commission, the person thereof that has voting
      and dispositive control over the Shares. During any periods that the Company
      is
      unable to meet its obligations hereunder with respect to the registration of
      the
      Registrable Securities solely because any Holder fails to furnish such
      information within three Trading Days of the Company’s request, any liquidated
      damages that are accruing at such time as to such Holder only shall be tolled
      and any Event that may otherwise occur solely because of such delay shall be
      suspended as to such Holder only, until such information is delivered to the
      Company.

     

    
      
        
        

      

      
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    4.
      Registration
      Expenses.
      All
      fees and expenses incident to the performance of or compliance with this
      Agreement by the Company shall be borne by the Company whether or not any
      Registrable Securities are sold pursuant to the Registration Statement. The
      fees
      and expenses referred to in the foregoing sentence shall include, without
      limitation, (i) all registration and filing fees (including, without limitation,
      fees and expenses (A) with respect to filings required to be made with the
      Trading Market on which the Common Stock is then listed for trading, and (B)
      in
      compliance with applicable state securities or Blue Sky laws reasonably agreed
      to by the Company in writing (including, without limitation, fees and
      disbursements of counsel for the Company in connection with Blue Sky
      qualifications or exemptions of the Registrable Securities and determination
      of
      the eligibility of the Registrable Securities for investment under the laws
      of
      such jurisdictions as requested by the Holders), (ii) printing expenses
      (including, without limitation, expenses of printing certificates for
      Registrable Securities and of printing prospectuses if the printing of
      prospectuses is reasonably requested by the holders of a majority of the
      Registrable Securities included in a Registration Statement), (iii) messenger,
      telephone and delivery expenses, (iv) fees and disbursements of counsel for
      the
      Company, (v) Securities Act liability insurance, if the Company so desires
      such
      insurance, and (vi) fees and expenses of all other Persons retained by the
      Company in connection with the consummation of the transactions contemplated
      by
      this Agreement. In addition, the Company shall be responsible for all of its
      internal expenses incurred in connection with the consummation of the
      transactions contemplated by this Agreement (including, without limitation,
      all
      salaries and expenses of its officers and employees performing legal or
      accounting duties), the expense of any annual audit and the fees and expenses
      incurred in connection with the listing of the Registrable Securities on any
      securities exchange as required hereunder. In no event shall the Company be
      responsible for any broker or similar commissions or, except to the extent
      provided for in the Transaction Documents, any legal fees or other costs of
      the
      Holders.

    

    5.
      Indemnification

    

    (a)
      Indemnification
      by the Company.
      The
      Company shall, notwithstanding any termination of this Agreement, indemnify
      and
      hold harmless each Holder, the officers, directors, agents, brokers (including
      brokers who offer and sell Registrable Securities as principal as a result
      of a
      pledge or any failure to perform under a margin call of Common Stock),
      investment advisors and employees of each of them, each Person who controls
      any
      such Holder (within the meaning of Section 15 of the Securities Act or Section
      20 of the Exchange Act) and the officers, directors, agents and employees of
      each such controlling Person, to the fullest extent permitted by applicable
      law,
      from and against any and all losses, claims, damages, liabilities, costs
      (including, without limitation, reasonable attorneys’ fees) and expenses
      (collectively, “Losses”),
      as
      incurred, arising out of or relating to any untrue or alleged untrue statement
      of a material fact contained in a Registration Statement, any Prospectus or
      any
      form of prospectus or in any amendment or supplement thereto or in any
      preliminary prospectus, or arising out of or relating to any omission or alleged
      omission of a material fact required to be stated therein or necessary to make
      the statements therein (in the case of any Prospectus or form of prospectus
      or
      supplement thereto, in light of the circumstances under which they were made)
      not misleading, except to the extent, but only to the extent, that (i) such
      untrue statements or omissions are based solely upon information regarding
      such
      Holder furnished in writing to the Company by such Holder expressly for use
      therein, or to the extent that such information relates to such Holder or such
      Holder’s proposed method of distribution of Registrable Securities and was
      reviewed and approved by such Holder expressly for use in a Registration
      Statement, such Prospectus or such form of Prospectus or in any amendment or
      supplement thereto (it being understood that the Holder has approved Annex
      A
      hereto for this purpose) or (ii) in the case of an occurrence of an event of
      the
      type specified in Section 3(d)(ii)-(vi), the use by such Holder of an outdated
      or defective Prospectus after the Company has notified such Holder in writing
      that the Prospectus is outdated or defective and prior to the receipt by such
      Holder of the Advice contemplated in Section 6(d). The Company shall notify
      the
      Holders promptly of the institution, threat or assertion of any Proceeding
      arising from or in connection with the transactions contemplated by this
      Agreement of which the Company is aware.

     

    
      
        
        

      

      
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    (b)
      Indemnification
      by Holders.
      Each
      Holder shall, severally and not jointly, indemnify and hold harmless the
      Company, its directors, officers, agents and employees, each Person who controls
      the Company (within the meaning of Section 15 of the Securities Act and Section
      20 of the Exchange Act), and the directors, officers, agents or employees of
      such controlling Persons, to the fullest extent permitted by applicable law,
      from and against all Losses, as incurred, to the extent arising out of or based
      solely upon: (x) such Holder’s failure to comply with the prospectus delivery
      requirements of the Securities Act or (y) any untrue or alleged untrue statement
      of a material fact contained in any Registration Statement, any Prospectus,
      or
      any form of prospectus, or in any amendment or supplement thereto or in any
      preliminary prospectus, or arising out of or relating to any omission or alleged
      omission of a material fact required to be stated therein or necessary to make
      the statements therein not misleading (i) to the extent, but only to the extent,
      that such untrue statement or omission is contained in any information so
      furnished in writing by such Holder to the Company specifically for inclusion
      in
      such Registration Statement or such Prospectus or (ii) to the extent that (1)
      such untrue statements or omissions are based solely upon information regarding
      such Holder furnished in writing to the Company by such Holder expressly for
      use
      therein, or to the extent that such information relates to such Holder or such
      Holder’s proposed method of distribution of Registrable Securities and was
      reviewed and expressly approved in writing by such Holder expressly for use
      in
      the Registration Statement (it being understood that the Holder has approved
      Annex A hereto for this purpose), such Prospectus or such form of Prospectus
      or
      in any amendment or supplement thereto or (2) in the case of an occurrence
      of an
      event of the type specified in Section 3(d)(ii)-(vi), the use by such Holder
      of
      an outdated or defective Prospectus after the Company has notified such Holder
      in writing that the Prospectus is outdated or defective and prior to the receipt
      by such Holder of the Advice contemplated in Section 6(d). In no event shall
      the
      liability of any selling Holder hereunder be greater in amount than the dollar
      amount of the net proceeds received by such Holder upon the sale of the
      Registrable Securities giving rise to such indemnification
      obligation.

    

    (c)
      Conduct
      of Indemnification Proceedings.
      If any
      Proceeding shall be brought or asserted against any Person entitled to indemnity
      hereunder (an “Indemnified
      Party”),
      such Indemnified Party shall promptly notify the Person from whom indemnity
      is
      sought (the “Indemnifying
      Party”)
      in
      writing, and the Indemnifying Party shall have the right to assume the defense
      thereof, including the employment of counsel reasonably satisfactory to the
      Indemnified Party and the payment of all fees and expenses incurred in
      connection with defense thereof; provided, that the failure of any Indemnified
      Party to give such notice shall not relieve the Indemnifying Party of its
      obligations or liabilities pursuant to this Agreement, except (and only) to
      the
      extent that it shall be finally determined by a court of competent jurisdiction
      (which determination is not subject to appeal or further review) that such
      failure shall have prejudiced the Indemnifying Party.

    

    An
      Indemnified Party shall have the right to employ separate counsel in any such
      Proceeding and to participate in the defense thereof, but the fees and expenses
      of such counsel shall be at the expense of such Indemnified Party or Parties
      unless: (1) the Indemnifying Party has agreed in writing to pay such fees and
      expenses; (2) the Indemnifying Party shall have failed promptly to assume the
      defense of such Proceeding and to employ counsel reasonably satisfactory to
      such
      Indemnified Party in any such Proceeding; or (3) the named parties to any such
      Proceeding (including any impleaded parties) include both such Indemnified
      Party
      and the Indemnifying Party, and such Indemnified Party shall reasonably believe
      that a material conflict of interest is likely to exist if the same counsel
      were
      to represent such Indemnified Party and the Indemnifying Party (in which case,
      if such Indemnified Party notifies the Indemnifying Party in writing that it
      elects to employ separate counsel at the expense of the Indemnifying Party,
      the
      Indemnifying Party shall not have the right to assume the defense thereof and
      the reasonable fees and expenses of one separate counsel shall be at the expense
      of the Indemnifying Party). The Indemnifying Party shall not be liable for
      any
      settlement of any such Proceeding effected without its written consent, which
      consent shall not be unreasonably withheld. No Indemnifying Party shall, without
      the prior written consent of the Indemnified Party, effect any settlement of
      any
      pending Proceeding in respect of which any Indemnified Party is a party, unless
      such settlement includes an unconditional release of such Indemnified Party
      from
      all liability on claims that are the subject matter of such
      Proceeding.

     

    
      
        
        

      

      
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    Subject
      to the terms of this Agreement, all reasonable fees and expenses of the
      Indemnified Party (including reasonable fees and expenses to the extent incurred
      in connection with investigating or preparing to defend such Proceeding in
      a
      manner not inconsistent with this Section) shall be paid to the Indemnified
      Party, as incurred, within ten Trading Days of written notice thereof to the
      Indemnifying Party; provided, that the Indemnified Party shall promptly
      reimburse the Indemnifying Party for that portion of such fees and expenses
      applicable to such actions for which such Indemnified Party is not entitled
      to
      indemnification hereunder, determined based upon the relative faults of the
      parties.

    

    (d)
      Contribution.
      If a
      claim for indemnification under Section 5(a) or 5(b) is unavailable to an
      Indemnified Party (by reason of public policy or otherwise), then each
      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, in such proportion as is appropriate to reflect the relative
      fault of the Indemnifying Party and Indemnified Party in connection with the
      actions, statements or omissions that resulted in such Losses 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 any action in question, including any untrue or alleged untrue
      statement of a material fact or omission or alleged omission of a material
      fact,
      has been taken or made by, or relates to information supplied by, such
      Indemnifying Party or Indemnified Party, and the parties’ relative intent,
      knowledge, access to information and opportunity to correct or prevent such
      action, statement or omission. The amount paid or payable by a party as a result
      of any Losses shall be deemed to include, subject to the limitations set forth
      in this Agreement, any reasonable attorneys’ or other reasonable fees or
      expenses incurred by such party in connection with any Proceeding to the extent
      such party would have been indemnified for such fees or expenses if the
      indemnification provided for in this Section was available to such party in
      accordance with its terms.

    

    The
      parties hereto agree that it would not be just and equitable if contribution
      pursuant to this Section 5(d) were determined by pro rata allocation or by
      any
      other method of allocation that does not take into account the equitable
      considerations referred to in the immediately preceding paragraph.
      Notwithstanding the provisions of this Section 5(d), no Holder shall be required
      to contribute, in the aggregate, any amount in excess of the amount by which
      the
      proceeds actually received by such Holder from the sale of the Registrable
      Securities subject to the Proceeding exceeds the amount of any damages that
      such
      Holder has otherwise been required to pay by reason of such untrue or alleged
      untrue statement or omission or alleged omission, except in the case of fraud
      by
      such Holder.

     

    
      
        
        

      

      
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    The
      indemnity and contribution agreements contained in this Section are in addition
      to any liability that the Indemnifying Parties may have to the Indemnified
      Parties.

    

    6.
      Miscellaneous

    

    (a) Remedies.
      In the
      event of a breach by the Company or by a Holder, of any of their obligations
      under this Agreement, each Holder or the Company, as the case may be, in
      addition to being entitled to exercise all rights granted by law and under
      this
      Agreement, including recovery of damages, will be entitled to specific
      performance of its rights under this Agreement. The Company and each Holder
      agree that monetary damages would not provide adequate compensation for any
      losses incurred by reason of a breach by it of any of the provisions of this
      Agreement and hereby further agrees that, in the event of any action for
      specific performance in respect of such breach, it shall waive the defense
      that
      a remedy at law would be adequate.

    

    (b) No
      Piggyback on Registrations.
      Except
      as set forth on Schedule 6(i), neither the Company nor any of its security
      holders (other than the Holders in such capacity pursuant hereto) may include
      securities of the Company in the Registration Statement other than the
      Registrable Securities. Each Purchaser acknowledges and agrees that the Company
      may, in its sole discretion, file one registration statement to fulfill its
      obligations to the Purchaser hereunder. The Company shall not file any other
      registration statements until the initial Registration Statement required
      hereunder is declared effective by the Commission, provided that this Section
      6(b) shall not prohibit the Company from filing amendments to registration
      statements already filed.

    

    (c) Compliance.
      Each
      Holder covenants and agrees that it will comply with the prospectus delivery
      requirements of the Securities Act as applicable to it in connection with sales
      of Registrable Securities pursuant to the Registration Statement.

    

    (d) Discontinued
      Disposition.
      Each
      Holder agrees by its acquisition of such Registrable Securities that, upon
      receipt of a notice from the Company of the occurrence of any event of the
      kind
      described in Section 3(d), such Holder will forthwith discontinue disposition
      of
      such Registrable Securities under a Registration Statement until such Holder’s
      receipt of the copies of the supplemented Prospectus and/or amended Registration
      Statement, or until it is advised in writing (the “Advice”)
      by the
      Company that the use of the applicable Prospectus may be resumed, and, in either
      case, has received copies of any additional or supplemental filings that are
      incorporated or deemed to be incorporated by reference in such Prospectus or
      Registration Statement. The Company will use its best efforts to ensure that
      the
      use of the Prospectus may be resumed as promptly as it practicable. The Company
      agrees and acknowledges that any periods during which the Holder is required
      to
      discontinue the disposition of the Registrable Securities hereunder shall be
      subject to the provisions of Section 2(b).

    

    (e) Piggy-Back
      Registrations.
      If at
      any time during the Effectiveness Period there is not an effective Registration
      Statement covering all of the Registrable Securities and the Company shall
      determine to prepare and file with the Commission a registration statement
      relating to an offering for its own account or the account of others under
      the
      Securities Act of any of its equity securities, other than on Form S-4 or Form
      S-8 (each as promulgated under the Securities Act) or their then equivalents
      relating to equity securities to be issued solely in connection with any
      acquisition of any entity or business or equity securities issuable in
      connection with the stock option or other employee benefit plans, then the
      Company shall send to each Holder a written notice of such determination and,
      if
      within fifteen days after the date of such notice, any such Holder shall so
      request in writing, the Company shall include in such registration statement
      all
      or any part of such Registrable Securities such holder requests to be
      registered; provided, that, the Company shall not be required to register any
      Registrable Securities pursuant to this Section 6(e) that are eligible for
      resale pursuant to Rule 144(k) promulgated under the Securities Act or that
      are
      the subject of a then effective Registration Statement.

     

    
      
        
        

      

      
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    (f) Amendments
      and Waivers.
      The
      provisions of this Agreement, including the provisions of this sentence, may
      not
      be amended, modified or supplemented, and waivers or consents to departures
      from
      the provisions hereof may not be given, unless the same shall be in writing
      and
      signed by the Company and each Holder of the then outstanding Registrable
      Securities. Notwithstanding the foregoing, a waiver or consent to depart from
      the provisions hereof with respect to a matter that relates exclusively to
      the
      rights of Holders and that does not directly or indirectly affect the rights
      of
      other Holders may be given by Holders of all of the Registrable Securities
      to
      which such waiver or consent relates; provided,
      however,
      that
      the provisions of this sentence may not be amended, modified, or supplemented
      except in accordance with the provisions of the immediately preceding sentence.
      

    

    (g) Notices.
      Any and
      all notices or other communications or deliveries required or permitted to
      be
      provided hereunder shall be delivered as set forth in the Purchase Agreement.
      

    

    (h) Successors
      and Assigns.
      This
      Agreement shall inure to the benefit of and be binding upon the successors
      and
      permitted assigns of each of the parties and shall inure to the benefit of
      each
      Holder. The Company may not assign its rights or obligations hereunder without
      the prior written consent of all of the Holders of the then-outstanding
      Registrable Securities. Each Holder may assign their respective rights hereunder
      in the manner and to the Persons as permitted under the Purchase
      Agreement.

    

    (i) No
      Inconsistent Agreements.
      Neither
      the Company nor any of its subsidiaries has entered, as of the date hereof,
      nor
      shall the Company or any of its subsidiaries, on or after the date of this
      Agreement, enter into any agreement with respect to its securities, that would
      have the effect of impairing the rights granted to the Holders in this Agreement
      or otherwise conflicts with the provisions hereof. Except as set forth on
Schedule
      6(i),
      neither
      the Company nor any of its subsidiaries has previously entered into any
      agreement granting any registration rights with respect to any of its securities
      to any Person that have not been satisfied in full.

    

    (j) Execution
      and Counterparts.
      This
      Agreement may be executed in any number of counterparts, each of which when
      so
      executed shall be deemed to be an original and, all of which taken together
      shall constitute one and the same Agreement. In the event that any signature
      is
      delivered by facsimile transmission, such signature shall create a valid binding
      obligation of the party executing (or on whose behalf such signature is
      executed) the same with the same force and effect as if such facsimile signature
      were the original thereof.

    

    (k) Governing
      Law.
      All
      questions concerning the construction, validity, enforcement and interpretation
      of this Agreement shall be determined with the provisions of the Purchase
      Agreement.

    

    (l) Cumulative
      Remedies.
      The
      remedies provided herein are cumulative and not exclusive of any remedies
      provided by law.

    

    (m) Severability.
      If any
      term, provision, covenant or restriction of this Agreement is held by a court
      of
      competent jurisdiction to be invalid, illegal, void or unenforceable, the
      remainder of the terms, provisions, covenants and restrictions set forth herein
      shall remain in full force and effect and shall in no way be affected, impaired
      or invalidated, and the parties hereto shall use their commercially reasonable
      efforts to find and employ an alternative means to achieve the same or
      substantially the same result as that contemplated by such term, provision,
      covenant or restriction. It is hereby stipulated and declared to be the
      intention of the parties that they would have executed the remaining terms,
      provisions, covenants and restrictions without including any of such that may
      be
      hereafter declared invalid, illegal, void or unenforceable.

     

    
      
        
        

      

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

    

    (o) Independent
      Nature of Holders’ Obligations and Rights.
      The
      obligations of each Holder hereunder are several and not joint with the
      obligations of any other Holder hereunder, and no Holder shall be responsible
      in
      any way for the performance of the obligations of any other Holder hereunder.
      Nothing contained herein or in any other agreement or document delivered at
      any
      closing, and no action taken by any Holder pursuant hereto or thereto, shall
      be
      deemed to constitute the Holders as a partnership, an association, a joint
      venture or any other kind of entity, or create a presumption that the Holders
      are in any way acting in concert with respect to such obligations or the
      transactions contemplated by this Agreement. Each Holder 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 Holder to
      be
      joined as an additional party in any proceeding for such purpose.

     

    ********************

     

    
      
        
        

      

      
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    IN
      WITNESS WHEREOF, the parties have executed this Registration Rights Agreement
      as
      of the date first written above.

     

    
      	 	 	 	
              UNITED
                BENEFITS & PENSION SERVICES, INC.

            
	 	 	 	 
	 	 	 	 
	
            	 	 	/s/
              Richard
              Stierwalt
	
            	 	 	
              
Name:
              Richard Stierwalt
	
            	 	 	
              Title:
                Chief Executive Officer

            

    

     

    [SIGNATURE
      PAGE OF HOLDERS FOLLOWS]

    

    
      
        
        

      

      
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    [SIGNATURE
      PAGE OF HOLDERS TO UNITED
      RRA]

     

    Name
      of
      Investing Entity: CAMOFI
      Master LDC

     

    Signature
      of Authorized Signatory of Investing Entity: 
      /s/
      Richard Smithline

     

    Name
      of
      Authorized Signatory: Richard
      Smithline

     

    Title
      of
      Authorized Signatory: Director

    

    [SIGNATURE
      PAGES CONTINUE]

    

    
      
        
        

      

      
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    [SIGNATURE
      PAGE OF HOLDERS TO UNITED
      RRA]

     

    Name
      of
      Investing Entity: CAMHZN
      Master LDC

     

    Signature
      of Authorized Signatory of Investing Entity:
      /s/
      Richard Smithline

     

    Name
      of
      Authorized Signatory: Richard
      Smithline

     

    Title
      of
      Authorized Signatory: Director
      

     

    
      
        
        

      

      
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    SCHEDULE
      6(i)

     

    REGISTRATION
      RIGHTS

     

    1. The
      Company has granted registration rights to each purchaser of the units in the
      Equity Offering pursuant to the Amended and Restated Confidential Private
      Placement Memorandum of the Company (the “PPM”), dated November 5, 2007, as
      supplemented by that certain Supplement to the PPM, dated December 12, 2007.
      Such registration rights consist of the rights set forth in the Registration
      Rights Agreement annexed as Exhibit F to the PPM and include the right to
      include securities of the Company in the Registration Statement.

     

    2. The
      Company has granted registration rights to the holders of the Placement Agent
      Warrants (as defined in the PPM) with respect to the shares of common stock,
      par
      value $0.01 per share, of the Company (“Common Stock”) issuable upon exercise of
      the Placement Agent Warrants (as defined in the PPM). 

     

    3. The
      Company has granted registration rights to the holders of the Secured
      Convertible Notes due December 7, 2007 issued by Company (the “December 2007
      Notes”) pursuant to the Amended and Restated Note Purchase Agreement, by and
      between the Company and the parties signatory thereto, as amended on November
      29, 2007, with respect to the shares issuable upon conversion of the December
      2007 Notes.

     

    4. The
      shareholders of ATPA immediately prior to the consummation of the Acquisition
      have registration rights only to the same extent that Richard E. Stierwalt
      has
      any registration rights on shares originally owned by him. Mr. Stierwalt has
      no
      such registration rights.

     

    
      
        
        

      

      
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    Plan
      of Distribution

    

    Each
      Selling Stockholder (the “Selling
      Stockholders”)
      of the
      common stock (“Common
      Stock”)
      of
      United Benefits and Pension Services, Inc., a Delaware corporation (the
“Company”)
      and
      any of their pledgees, assignees and successors-in-interest may, from time
      to
      time, sell any or all of their shares of Common Stock on the Trading Market
      or
      any other stock exchange, market or trading facility on which the shares are
      traded or in private transactions. These sales may be at fixed or negotiated
      prices. A Selling Stockholder may use any one or more of the following methods
      when selling shares:

     

    
      	 	
              ·

            	
              ordinary
                brokerage transactions and transactions in which the broker-dealer
                solicits Purchaser;

            

    

     

    
      	 	
              ·

            	
              block
                trades in which the broker-dealer will attempt to sell the shares
                as agent
                but may position and resell a portion of the block as principal to
                facilitate the transaction;

            

    

     

    
      	 	
              ·

            	
              purchases
                by a broker-dealer as principal and resale by the broker-dealer for
                its
                account;

            

    

     

    
      	 	
              ·

            	
              an
                exchange distribution in accordance with the rules of the applicable
                exchange;

            

    

     

    
      	 	
              ·

            	
              privately
                negotiated transactions;

            

    

     

    
      	 	
              ·

            	
              settlement
                of short sales entered into after the date of this prospectus;
                

            

    

     

    
      	 	
              ·

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

            

    

     

    
      	 	
              ·

            	
              a
                combination of any such methods of
                sale;

            

    

     

    
      	 	
              ·

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

            

    

     

    
      	 	
              ·

            	
              any
                other method permitted pursuant to applicable
                law.

            

    

     

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

     

    Broker-dealers
      engaged by the Selling Stockholders may arrange for other brokers-dealers to
      participate in sales. Broker-dealers may receive commissions or discounts from
      the Selling Stockholders (or, if any broker-dealer acts as agent for the
      purchaser of shares, from the purchaser) in amounts to be negotiated. Each
      Selling Stockholder does not expect these commissions and discounts relating
      to
      its sales of shares to exceed what is customary in the types of transactions
      involved.

     

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

     

    
      
        
        

      

      
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    The
      Selling Stockholders and any broker-dealers or agents that are involved in
      selling the shares may be deemed to be “underwriters” within the meaning of the
      Securities Act in connection with such sales. In such event, any commissions
      received by such broker-dealers or agents and any profit on the resale of the
      shares purchased by them may be deemed to be underwriting commissions or
      discounts under the Securities Act. Each Selling Stockholder has informed the
      Company that it does not have any agreement or understanding, directly or
      indirectly, with any person to distribute the Common Stock.

     

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

     

    Because
      Selling Stockholders may be deemed to be “underwriters” within the meaning of
      the Securities Act, they will be subject to the prospectus delivery requirements
      of the Securities Act. In addition, any securities covered by this prospectus
      which qualify for sale pursuant to Rule 144 under the Securities Act may be
      sold
      under Rule 144 rather than under this prospectus. Each Selling Stockholder
      has
      advised us that they have not entered into any agreements, understandings or
      arrangements with any underwriter or broker-dealer regarding the sale of the
      resale shares. There is no underwriter or coordinating broker acting in
      connection with the proposed sale of the resale shares by the Selling
      Stockholders.

     

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

     

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

     

    
      
        
        

      

      
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    Annex
      B

    
       

    

    Selling
      Securityholder Notice and Questionnaire

     

    The
      undersigned beneficial owner of common stock, par value $.01 per share (the
      “Common
      Stock”),
      of
      United Benefits and Pension Services, Inc., a Deleware corporation (the
“Company”),
      (the
“Registrable
      Securities”)
      understands that the Company has filed or intends to file with the Securities
      and Exchange Commission (the “Commission”)
      a
      registration statement on Form SB-2 (the “Registration
      Statement”)
      for
      the registration and resale under Rule 415 of the Securities Act of 1933, as
      amended (the “Securities
      Act”),
      of
      the Registrable Securities, in accordance with the terms of the Registration
      Rights Agreement, dated as of November ___, 2007 (the “Registration
      Rights Agreement”),
      among
      the Company and the Purchaser named therein. A copy of the Registration Rights
      Agreement is available from the Company upon request at the address set forth
      below. All capitalized terms not otherwise defined herein shall have the
      meanings ascribed thereto in the Registration Rights Agreement.

     

    Certain
      legal consequences arise from being named as a selling securityholder in the
      Registration Statement and the related prospectus. Accordingly, holders and
      beneficial owners of Registrable Securities are advised to consult their own
      securities law counsel regarding the consequences of being named or not being
      named as a selling securityholder in the Registration Statement and the related
      prospectus.

     

    NOTICE

     

    The
      undersigned beneficial owner (the “Selling
      Securityholder”)
      of
      Registrable Securities hereby elects to include the Registrable Securities
      owned
      by it and listed below in Item 3 (unless otherwise specified under such Item
      3)
      in the Registration Statement.

     

    The
      undersigned hereby provides the following information to the Company and
      represents and warrants that such information is accurate:

     

    QUESTIONNAIRE

     

    
      	1.	
              Name.

            

    

     

    
      	 	
              (a)

            	
              Full
                Legal Name of Selling Securityholder

            

      	 	 	 

      	 	 	             
              

    

     

    
      	 	
              (b)

            	
              Full
                Legal Name of Registered Holder (if not the same as (a) above) through
                which Registrable Securities Listed in Item 3 below are
                held:

            

      	 	 	 

      	 	 	            
              

    

     

    
      
        
        

      

      
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              (c)

            	
              Full
                Legal Name of Natural Control Person (which means a natural person
                who
                directly you indirectly alone or with others has power to vote or
                dispose
                of the securities covered by the
                questionnaire):

            

      	 	 	 

      	 	 	         
              

    

     

    
      	2.	
              Address
                for Notices to Selling
                Securityholder:

            

    

     

    
      	 
	 
	 
	 
	
              Telephone:
                __________________________________________________________________________

            
	 
	
              Fax:
                _______________________________________________________________________________

            
	 
	
              Contact
                Person:
                ______________________________________________________________________

            

    

    

    
      	3.	
              Beneficial
                Ownership of Registrable
                Securities:

            

    

     

    
      	 	
              (a)

            	
              Type
                and Principal Amount of Registrable Securities beneficially
                owned:

            

      	 	 	 

      	 	 	             
              

      	 	 	         
              

      	 	 	           
              

 

    
      	4.	
              Broker-Dealer
                Status:

            

    

     

    
      	 	
              (a)

            	
              Are
                you a broker-dealer?

            

    

     

    Yes
o     No
o

     

    
      	 	
              Note:

            	
              If
                yes, the Commission’s staff has indicated that you should be identified as
                an underwriter in the Registration
                Statement.

            

    

     

    
      	 	
              (b)

            	
              Are
                you an affiliate of a
                broker-dealer?

            

    

    
       

      Yes
o     No
o

    

     

    
      	 	
              (c)

            	
              If
                you are an affiliate of a broker-dealer, do you certify that you
                bought
                the Registrable Securities in the ordinary course of business, and
                at the
                time of the purchase of the Registrable Securities to be resold,
                you had
                no agreements or understandings, directly or indirectly, with any
                person
                to distribute the Registrable
                Securities?

            

    

    
       

      Yes
o     No
o

    

     

    
      	 	
              Note:

            	
              If
                no, the Commission’s staff has indicated that you should be identified as
                an underwriter in the Registration
                Statement.

            

    

     

    
      
        
        

      

      
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      	5.	
              Beneficial
                Ownership of Other Securities of the Company Owned by the Selling
                Securityholder.

            

    

     

    Except
      as set forth below in this Item 5, the undersigned is not the beneficial or
      registered owner of any securities of the Company other than the Registrable
      Securities listed above in Item 3.

     

    
      	 	
              (a)

            	
              Type
                and Amount of Other Securities beneficially owned by the Selling
                Securityholder:

            

      	 	 	 

      	 	 	          
              

      	 	 	 

    

     

    
      	6.	
              Relationships
                with the Company:

            

    

     

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

     

    State
      any
      exceptions here:

    
      	
            	 	 

      	 	       
              	          
              

      	 	   
	 

       

    

    The
      undersigned agrees to promptly notify the Company of any inaccuracies or changes
      in the information provided herein that may occur subsequent to the date hereof
      at any time while the Registration Statement remains effective.

     

    By
      signing below, the undersigned consents to the disclosure of the information
      contained herein in its answers to Items 1 through 6 and the inclusion of such
      information in the Registration Statement and the related prospectus. The
      undersigned understands that such information will be relied upon by the Company
      in connection with the preparation or amendment of the Registration Statement
      and the related prospectus.

     

    IN
      WITNESS WHEREOF the undersigned, by authority duly given, has caused this Notice
      and Questionnaire to be executed and delivered either in person or by its duly
      authorized agent.

     

    
      	 	 	 
	Dated:
              __________________	Beneficial
              Owner:
              ________________________
	 
 	 
 	 
 
	
            	By:  	
            
	 	
              
Name:
	 	Title:

    

     

    PLEASE
      FAX A COPY OF THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE, AND RETURN
      THE ORIGINAL BY OVERNIGHT MAIL, TO:

    

    
      
        
        

      

      
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