Document:

Exhibit
      10.1

    REDEMPTION
      AGREEMENT

     

    This
      Agreement (the “Agreement”) is made as of the 26th
      day of
      June, 2006 by and between Adagio Acquisition I, Inc., a Delaware corporation
      having its offices at c/o Spencer Trask Ventures, 535 Madison Avenue,
      18th
      Floor,
      New York, New York 10022 (the “Issuer”), and William P. Dioguardi, with an
      address at c/o Spencer Trask Ventures, Inc., 535 Madison Avenue, 18th
      Floor,
      New York, New York 10022 (the “Seller”).

     

    W
      I T
      N E S S E T H:

     

    WHEREAS,
      the Seller is the owner of 1,500,000 shares of the Issuer’s common stock, par
      value $.0001 per share (“Common Stock”), and 

     

    WHEREAS,
      the Seller desires to sell to the Issuer, and the Issuer desires to purchase
      from the Seller, 1,440,000 shares of Common Stock (the “Shares”), on and subject
      to the terms of this Agreement;

     

    WHEREFORE,
      the parties hereto hereby agree as follows:

     

    1.    Sale
      of the Shares.
      Subject
      to the terms and conditions of this Agreement, and in reliance upon the
      representations, warranties, covenants and agreements contained in this
      Agreement, the Seller shall sell the Shares to the Issuer, and the Issuer shall
      purchase the Shares from the Seller for a purchase price (the “Purchase Price”)
      equal to $.0001 per share, or an aggregate of one hundred forty-four dollars
      ($144.00).

     

    2.    Closing.
      The
      purchase and sale of the Shares shall take place upon execution and delivery
      of
      this Agreement (the “Closing”), to be held at such time and place as shall be
      determined by the parties. At the Closing, the Seller shall deliver to the
      Issuer a certificate for the Shares, duly endorsed in form for transfer to
      the
      Issuer and the Issuer shall pay the purchase price for the Shares. Seller
      represents and warrants to the Issuer that there are no liens, charges or
      encumbrances on the Shares.

     

    3.    Miscellaneous.
      This
      Agreement constitutes the entire agreement of the parties, superseding and
      terminating any and all prior or contemporaneous oral and written agreements,
      understandings or letters of intent between or among the parties with respect
      to
      the subject matter of this Agreement. No part of this Agreement may be modified
      or amended, nor may any right be waived, except by a written instrument which
      expressly refers to this Agreement, states that it is a modification or
      amendment of this Agreement and is signed by the parties to this Agreement,
      or,
      in the case of waiver, by the party granting the waiver. If any section, term
      or
      provision of this Agreement shall to any extent be held or determined to be
      invalid or unenforceable, the remaining sections, terms and provisions shall
      nevertheless continue in full force and effect. This Agreement shall be governed
      and construed in accordance with the laws of the State of New York applicable
      to
      agreements executed and to be performed wholly within such State, without regard
      to any principles of conflicts of law. This Agreement shall be binding upon
      the
      parties and their respective heirs, executors, administrators, legal
      representatives, successors and assigns; provided, however, that neither party
      may assign this Agreement or any of its rights under this Agreement without
      the
      prior written consent of the other party. This Agreement may be executed
      simultaneously in two or more counterparts, each of which shall be deemed an
      original but all of which together shall constitute one and the same
      instrument.

     

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

     

    
      
        	 	 	 
	 
 	 
 	 
 
	 	  	/s/ William
                P. Dioguardi 
	 	
                

                
                  WILLIAM
                    P. DIOGUARDI

                

              
	 	 

      

       

    

    
      	 	 	 
	 	ADAGIO
              ACQUISITION
              I, INC.
	 
 	 
 	 
 
	 	By:  	/s/ William
              P. Dioguardi 
	 	
              

              William
                P. Dioguardi, PresidentExhibit
      10.2

    

    PLACEMENT
      AGENCY AGREEMENT

     

     

    June
      27,
      2006

    

    YYYY

    

    Ladies
      and Gentlemen:

    

    Adagio
      Acquisition I, Inc., a Delaware corporation (the “Company”),
      hereby confirms its agreement (this “Agreement”)
      with
      YYYY, a [state] limited liability company (the “Placement Agent”)
      as
      follows:

    

    1.
      Offering.
      (a) The
      Company will offer for sale through the Placement Agent, as exclusive agent
      for
      the Company, and its selected dealers, if any, a minimum of 200,000 shares
      (the
“Shares”)
      of its
      common stock, par value $0.0001 per share (the “Common
      Stock”)
      (the
“Minimum
      Offering”)
      and a
      maximum of 600,000 Shares (the “Maximum
      Offering”)
      at a
      purchase price of $5.00 per Share (the “Offering”).
      In
      the event the Offering is oversubscribed, the Company and the Placement Agent
      may, in their mutual discretion, sell up to 400,000 additional Shares. The
      Shares shall have the rights and privileges described in the Memorandum (as
      defined below). Related persons and/or affiliates of the Placement Agent and
      the
      Company may, but are not obligated to, participate in the Offering, and any
      such
      investments will be counted to determine whether the Minimum and Maximum
      Amounts, as applicable, have been satisfied.

    

    (b)
      Placement of the Shares by the Placement Agent will be made on a “reasonable
      efforts,” “all-or-none” basis with respect to the Minimum Amount and on a
“reasonable efforts” basis as to the remaining 400,000 Shares. The minimum
      subscription for Shares shall be 3,000 Shares; provided,
      however,
      that
      the Company and the Placement Agent may, in their mutual discretion, offer
      a
      lesser number of Shares. The Shares will be offered commencing on the date
      of
      the Memorandum for a period of up to 90 days unless extended by mutual agreement
      of the Placement Agent and the Company for up to an additional 30 days, or
      terminated earlier as provided herein (the “Offering
      Period”).
      The
      date on which the Offering Period shall terminate shall be referred to as the
      “Termination
      Date.”
A
      Final Closing (as hereinafter defined) may be held up to ten days after the
      Termination Date.

     

    (c)
      Subscriptions for the Shares will be accepted by the Company at a price of
      $5.00
      per Share; provided,
      however,
      that
      the Placement Agent shall not tender to the Company and the Company shall not
      accept subscriptions from, or sell Shares to, any persons or entities who do
      not
      qualify as “accredited investors,” as such term is defined in Rule 501 of
      Regulation D promulgated under Section 4(2) (“Regulation
      D”)
      of the
      Securities Act of 1933, as amended (the “Securities
      Act”).

    

    (d)
      The
      offering of the Shares will be made by the Placement Agent on behalf of the
      Company solely pursuant to the Memorandum, which at all times will be in form
      and substance acceptable to the Placement Agent, the Company and their
      respective counsel, and shall contain such legends and other information as
      the
      Placement Agent, the Company and their respective counsel may, from time to
      time, deem necessary and desirable to be set forth therein. The term
“Memorandum”
as
      used
      in this Agreement means the Company’s Confidential Private Placement Memorandum
      dated June 27, 2006, inclusive of all annexes, supplements and appendices
      thereto, if any. Unless otherwise defined, each capitalized term used in this
      Agreement has the same meaning ascribed to it in the Memorandum.

    

    2.
      Representations,
      Warranties and Covenants of the Company.
      The
      Company hereby represents, warrants and covenants to the Placement Agent
      that:

    

    (a)
      The
      Memorandum has been diligently prepared by the Company, in conformity with
      all
      applicable laws, and is in compliance with Regulation D, the Securities Act
      and
      the requirements of all other rules and regulations (the “Regulations”)
      of the
      Securities and Exchange Commission (the “SEC”)
      relating to offerings of the type contemplated by the Offering, and the
      applicable securities laws and the rules and regulations of those jurisdictions
      wherein the Shares are to be offered and sold. The Shares will be offered and
      sold pursuant to the registration exemption provided by Regulation D and Section
      4(2) of the Securities Act as a transaction not involving a public offering
      and
      the requirements of any other applicable state securities laws and the
      respective rules and regulations thereunder in those United States jurisdictions
      in which the Placement Agent notifies the Company that the Shares are being
      offered for sale. The Memorandum describes all material aspects, including
      attendant risks, of an investment in the Company. The Company has not taken
      nor
      will it take any action that conflicts with the conditions and requirements
      of,
      or that would make unavailable with respect to the Offering, the exemption(s)
      from registration available pursuant to Regulation D or Section 4(2) of the
      Securities Act, and knows of no reason why any such exemption would be otherwise
      unavailable to it. None of the Company, its predecessors or affiliates has
      been
      subject to any order, judgment or decree of any court of competent jurisdiction
      temporarily, preliminarily or permanently enjoining such person for failing
      to
      comply with Section 503 of Regulation D.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (b)
      The
      Memorandum does not include 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: provided,
      however,
      the
      foregoing does not apply to any statements or omissions made solely in reliance
      on and in conformity with written information furnished to the Company by the
      Placement Agent specifically for use in the preparation thereof. None of the
      statements, documents, certificates or other items prepared or supplied by
      the
      Company with respect to the transactions contemplated hereby contains an untrue
      statement of a material fact or omits to state a material fact necessary to
      make
      the statements contained therein not misleading in light of the circumstances
      in
      which they were made. There is no fact which the Company has not disclosed
      in
      the Memorandum and to the Placement Agent and its counsel in writing and of
      which the Company is aware that materially adversely affects or that could
      reasonably be expected to have a material adverse effect on the prospects,
      financial condition, operations or assets of the Company or any of its
      subsidiaries.

    

    (c)
      The
      Company is a corporation duly organized, validly existing and in good standing
      under the laws of the State of Delaware. The Company has no subsidiaries and
      does not have an equity interest in any other firm, partnership, association
      or
      other entity. 

    

    (d)
      The
      Company has all corporate power and authority to conduct its business as
      presently conducted and as proposed to be conducted (as described in the
      Memorandum), to enter into and perform its obligations under this Agreement,
      the
      Subscription Agreement substantially in the form of Exhibit A to the Memorandum
      (the “Subscription
      Agreement”),
      the
      Registration Rights Agreement substantially in the form of Exhibit B to the
      Memorandum (the “Registration
      Rights Agreement”),
      and
      the other agreements contemplated hereby (this Agreement, the Subscription
      Agreement, the Registration Rights Agreement and the other agreements
      contemplated hereby are collectively referred to herein as the “Transaction
      Documents”)
      and to
      issue, sell and deliver the Shares. Prior to the First Closing, as defined
      herein, each of the Transaction Documents will have been duly authorized. This
      Agreement has been duly authorized, executed and delivered and constitutes,
      and
      each of the other Transaction Documents, upon due execution and delivery, will
      constitute, valid and binding obligations of the Company, enforceable against
      the Company in accordance with their respective terms (i) except as
      enforceability may be limited by applicable bankruptcy, insolvency,
      reorganization, moratorium or other similar laws now or hereafter in effect
      related to laws affecting creditors’ rights generally, including the effect of
      statutory and other laws regarding fraudulent conveyances and preferential
      transfers and (ii) subject to the limitations imposed by general equitable
      principles (regardless of whether such enforceability is considered in a
      proceeding at law or in equity).

    

    (e)
      None
      of the execution and delivery of, or performance by the Company under this
      Agreement or any of the other Transaction Documents or the consummation of
      the
      transactions herein or therein contemplated conflicts with or violates, or
      will
      result in the creation or imposition of, any lien, charge or other encumbrance
      upon any of the assets of the Company under any agreement or other instrument
      to
      which the Company is a party or by which the Company or its assets may be bound,
      or any term of the certificate of incorporation or by-laws of the Company,
      or
      any license, permit, judgment, decree, order, statute, rule or regulation
      applicable to the Company or any of its assets.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    
(f)
      As of
      the date of the First Closing (as defined in Section 5(c) hereof), the Company
      will have the authorized and outstanding capital stock as has been described
      in
      the SEC Filings (as hereinafter defined). All outstanding shares of capital
      stock of the Company are duly authorized, validly issued and outstanding, fully
      paid and nonassessable. Except as described in the Memorandum, as of the date
      of
      the First Closing: (i) there will be no outstanding options, stock subscription
      agreements, warrants or other rights permitting or requiring the Company or
      others to purchase or acquire any shares of capital stock or other equity
      securities of the Company or to pay any dividend or make any other distribution
      in respect thereof; (ii) there will be no securities issued or outstanding
      that
      are convertible into or exchangeable for any of the foregoing and there are
      no
      contracts, commitments or understandings, whether or not in writing, to issue
      or
      grant any such option, warrant, right or convertible or exchangeable security;
      (iii) no shares of stock or other securities of the Company are reserved for
      issuance for any purpose; (iv) there will be no voting trusts or other
      contracts, commitments, understandings, arrangements or restrictions of any
      kind
      with respect to the ownership, voting or transfer of shares of stock or other
      securities of the Company, including without limitation, any preemptive rights,
      rights of first refusal, proxies or similar rights, and (v) no person holds
      a
      right to require the Company to register any securities of the Company under
      the
      Securities Act or to participate in any such registration. As of the date of
      the
      First Closing, the issued and outstanding shares of capital stock of the Company
      will conform to all statements in relation thereto contained in the Memorandum,
      and the Memorandum describes all material terms and conditions thereof.

    

    (g)
      Immediately prior to the First Closing, the Agent’s Securities (as defined
      below) will have been duly authorized and, when issued and delivered against
      payment therefor as provided in the Transaction Documents, will be validly
      issued, fully paid and nonassessable. No holder of the Agent’s Securities will
      be subject to personal liability solely by reason of being such a holder, and
      except as described in the Memorandum, the Agent’s Securities are not subject to
      preemptive or similar rights of any stockholder or security holder of the
      Company or an adjustment under the antidilution or exercise rights of any
      holders of any outstanding shares of capital stock, options, warrants or other
      rights to acquire any securities of the Company. Immediately prior to the First
      Closing, a sufficient number of authorized but unissued shares of Common Stock
      will have been reserved for issuance upon the exercise of the Agent’s Warrants
      (as hereinafter defined).

    

    (h)
      No
      consent, authorization or filing of or with any court or governmental authority
      is required in connection with the issuance or the consummation of the
      transactions contemplated herein or in the other Transaction Documents, except
      for required filings with the SEC and the applicable state securities
      commissions relating specifically to the Offering (all of which filings will
      be
      duly made by, or on behalf of, the Company), other than those which are required
      to be made after the First Closing (all of which will be duly made on a timely
      basis). 

    

    (i)
      The
      Company’s financial statements, together with the related notes, if any,
      included in the Memorandum, present fairly the financial position of the Company
      as of the dates specified and the results of operations for the periods covered
      thereby. Such financial statements and related notes were prepared in accordance
      with United States generally accepted accounting principles applied on a
      consistent basis throughout the periods indicated. The Company has no known
      material liabilities of any kind, whether accrued, absolute or contingent,
      or
      otherwise, and subsequent to the date of the Memorandum it shall not enter
      into
      any material transactions or commitments without promptly thereafter notifying
      the Placement Agent in writing of any such material transaction or commitment.
      The other financial and statistical information with respect to the Company
      and
      any pro forma information and related notes included in the Memorandum present
      fairly the information shown therein on a basis consistent with the financial
      statements of the Company included in the Memorandum. The
      Company does not know of any facts, circumstances or conditions, which could
      materially adversely affect its operations, earnings or prospects that have
      not
      been fully disclosed in the Memorandum. 

    

    (j)
      The
      conduct of business by the Company as presently and proposed to be conducted
      is
      not subject to continuing oversight, supervision, regulation or examination
      by
      any governmental official or body of the United States, or any other
      jurisdiction wherein the Company conducts or proposes to conduct such business,
      except as described in the Memorandum and except as such regulation is
      applicable to commercial enterprises generally. The Company has obtained all
      material licenses, permits and other governmental authorizations necessary
      to
      conduct its business as presently conducted.

    

    (k)
      The
      Company has no material agreements to which the Company is bound or by which
      its
      assets are subject.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    (l)
      There
      are no actions, proceedings, claims or investigations, before or by any court
      or
      governmental authority (or any state of facts which management of the Company
      has concluded could give rise thereto) pending or, to the best knowledge of
      the
      Company, threatened, against the Company, or involving its assets or, to the
      best knowledge of the Company, involving any of its officers or directors that,
      if determined adversely to the Company or such officer or director, could
      reasonably be expected to result in any material adverse change in the condition
      (financial or otherwise) or prospects of the Company or adversely affect the
      transactions contemplated by this Agreement or the other Transaction Documents
      or the enforceability hereof or thereof.

    

    (m)
      The
      Company is not in violation of: (i) its certificate of incorporation or by-laws
      each as currently in effect; (ii) any indenture, mortgage, deed of trust, note
      or other agreement or instrument to which the Company is a party or by which
      it
      is or may be bound or to which any of its assets may be subject; (iii) any
      statute, rule or regulation currently applicable to the Company; or (iv) any
      judgment, decree or order applicable to the Company, which violation or
      violations individually, or in the aggregate, could reasonably be expected
      to
      result in any material adverse change in the condition (financial or otherwise)
      or prospects of the Company or adversely affect the transactions contemplated
      by
      this Agreement or the other Transaction Documents or the enforceability
      thereof.

    

    (n)
      The
      Company does not own any real, personal, tangible or intangible property in
      fee
      simple. 

    

    (o)
      (Intentionally omitted).

    

    (p)
      Subsequent to the respective dates as of which information is given in the
      Memorandum, the Company has operated its business in the ordinary course and,
      except as may otherwise be set forth in the Memorandum, there has been no:
      (i)
      material adverse change in the condition (financial or otherwise) of the
      Company; (ii) transaction otherwise than in the ordinary course of business
      consistent with past practice; (iii) issuance of any securities (debt or
      equity) or any rights to acquire any such securities; (iv) damage, loss or
      destruction, whether or not covered by insurance, with respect to any asset
      or
      property of the Company; or (v) agreement to permit any of the
      foregoing.

    

    (q)
      The
      Company has filed, on a timely basis, each federal, state, local and foreign
      tax
      return that was required to be filed, or has requested an extension therefor
      and
      has paid all taxes and all related assessments, penalties and interest to the
      extent that the same have become due.

    

    (r)
      The
      Company is not obligated to pay, and has not obligated the Placement Agent
      to
      pay, a finder’s or origination fee in connection with the Offering, and hereby
      agrees to indemnify the Placement Agent from any such claim made by any other
      person as more fully set forth in Section 7 hereof. The Company has not offered
      for sale or solicited offers to purchase the Shares except for negotiations
      with
      the Placement Agent. Except as set forth in the Memorandum, no other person
      has
      any right to participate in any offer, sale or distribution of the Company’s
      securities to which the Placement Agent’s rights, described herein, shall
      apply.

     

    (s)
      The
      Company has no casualty or liability insurance coverage. 

    

    (t)
      Neither the sale of the Shares by the Company nor its use of the proceeds
      thereof will violate the Trading with the Enemy Act, as amended, or any of
      the
      foreign assets control regulations of the United States Treasury Department
      (31
      CFR, Subtitle B, Chapter V, as amended) or any enabling legislation or executive
      order relating thereto. Without limiting the foregoing, the Company is not
      (a) a
      person whose property or interests in property are blocked pursuant to Section
      1
      of Executive Order 13224 of September 23, 2001 Blocking Property and Prohibiting
      Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism
      (66 Fed. Reg. 49079 (2001)) or (b) a person who engages in any dealings or
      transactions, or be otherwise associated, with any such person. The Company
      and
      its subsidiaries are in compliance, in all material respects, with the USA
      Patriot Act of 2001 (signed into law October 26, 2001). 

     

    (u)
      The
      Company has filed all reports required to be filed by it under the Securities
      Exchange Act of 1934, as amended (the “Exchange
      Act”),
      including, without limitation, pursuant to Section 13(a) and 15(d) thereof,
      (the
      foregoing materials being collectively referred to herein as the “SEC
      Filings”)
      on a
      timely basis or has received a valid extension of such time of filing and has
      filed any such SEC Filing prior to the expiration of any such extension. As
      of
      their respective dates, the SEC Filings complied in all material respects with
      the requirements of the Securities Act and the Exchange Act and the rules and
      regulations of the SEC promulgated thereunder, and none of the SEC Filings,
      when
      filed, contained any untrue statement of a material fact or omit to state a
      material fact required to be stated therein or necessary in order to make the
      statements therein, in light of the circumstances under which they were made,
      not misleading. All material agreements to which the Company is a party have
      been filed as exhibits to the SEC Filings to the extent required. The financial
      statements of the Company included in the SEC Filings comply in all material
      respects with applicable accounting requirements and the rules and regulations
      of the SEC with respect thereto as in effect at the time of filing.

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    3.
      Placement
      Agent Appointment and Compensation.
      (a) The
      Company hereby appoints the Placement Agent and its selected dealers, if any,
      as
      its exclusive agent in connection with the Offering. The Company has not and
      will not make, or permit to be made, any offers or sales of the Shares other
      than through the Placement Agent without the Placement Agent’s prior written
      consent. The Placement Agent has no obligation to purchase any of the Shares.
      The agency of the Placement Agent hereunder shall continue until the later
      of
      the Termination Date or the Final Closing.

    

    (b)
      The
      Company will cause to be delivered to the Placement Agent copies of the
      Memorandum and has consented, and hereby consents, to the use of such copies
      for
      the purposes permitted by the Securities Act and applicable securities laws,
      and
      hereby authorizes the Placement Agent and its agents, employees and selected
      dealers to use the Memorandum in connection with the sale of the Shares until
      the later of the Final Closing or the Termination Date, and no other person
      or
      entity is or will be authorized to give any information or make any
      representations other than those contained in the Memorandum or to use any
      offering materials other than those contained in the Memorandum in connection
      with the sale of the Shares.

    

    (c)
      The
      Company will cooperate with the Placement Agent by making available to its
      representatives such information as may be reasonably requested in making a
      reasonable investigation of the Company and its affairs and shall provide access
      to such employees as shall be reasonably requested. Prior to the First Closing,
      if requested by the Placement Agent, the Company shall provide, at its own
      expense, credit or similar reports on such key management persons as the
      Placement Agent shall reasonably request. 

    

    (d)
      In
      connection with the Offering, the Company will pay a cash fee (the “Agent’s
      Fee”)
      to the
      Placement Agent at each Closing equal to 10% of the aggregate gross proceeds
      received from the sale of the Shares sold in the Offering. 

    

    (e)
      At
      each Closing the Company will issue to the Placement Agent (or its designee(s))
      for nominal consideration, warrants (the “Agent’s
      Warrants”,
      and
      together with the Agent’s Fee, the “Agent’s
      Compensation”)
      to
      purchase shares of Common Stock (the “Agent’s
      Shares”;
      and,
      collectively with the Agent’s Warrants, the “Agent’s
      Securities”).
      The
      Agent’s Warrants shall: (i) be exercisable for that number of shares of Common
      Stock equal to 10% (the “Agent
      Warrant Percentage”)
      of
      the number of Shares sold at each closing. The exercise price
      (“Exercise
      Price”)
      of the
      Agent’s Warrants shall initially be $5.00
      (subject
      to adjustment under certain circumstances).

    

    The
      Agent’s Warrants shall also provide the Placement Agent with a cashless exercise
      right. The Agent’s Warrants shall be exercisable until the date that is seven
      (7) years after the date of issuance. The Agent Shares shall be entitled to
      registration rights equivalent to those to be granted to the purchasers of
      the
      Shares (the “Subscribers”)
      in the
      Registration Rights Agreement, as provided for in the Placement Agent Warrant
      Agreement (as hereinafter defined). At the First Closing (as hereinafter
      defined), the Company and the Placement Agent shall enter into a warrant
      agreement in form and substance satisfactory to the Placement Agent and the
      Company (the “Placement
      Agent Warrant Agreement”).
      The
      Placement Agent Warrant Agreement shall also contain customary weighted average
      anti-dilution provisions.

    

    (f)
      The
      Company shall also pay an accountable expense allowance (the “Agent’s
      Allowance”)
      to the
      Placement Agent at each Closing equal to up to 3% of the aggregate gross
      proceeds received from the sale of the Shares sold in the Offering
      to reimburse
      the Placement Agent for all of the costs and expenses of the Placement Agent
      (including legal fees of Placement Agent’s counsel, travel costs, due diligence
      costs, and marketing expenses including the Placement Agent’s expenses related
      to Company presentations) relating to the Offering. Payment of the Agent’s
      Allowance will be made out of the proceeds at each Closing. We should to discuss
      whether a Rule 2710 filing is necessary.

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    (g)
      The
      Company shall also pay and issue to the Placement Agent the Agent’s Compensation
      calculated according to the percentages set forth in Sections 3(d) and (e)
      of
      this Agreement, if any person or entity contacted by the Placement Agent with
      respect to the Offering during the Offering invests in the Company, other than
      with respect to open market transactions (the “Post-Closing
      Subscribers”)
      at any
      time prior to the date that is twelve (12) months after the later of the
      Termination Date or the Final Closing (as hereinafter defined), regardless
      of
      whether such Post-Closing Subscriber purchased Shares in the Offering.

     

    4.
      Representations,
      Warranties and Covenants of the Placement Agent.
      The
      Placement Agent hereby represents, warrants and covenants to the Company that
      it
      is a
      registered broker-dealer and member in good standing
      of the NASD.

     

    5.
      Subscription
      and Closing Procedures.
      (a)
      Each prospective purchaser will be required to complete and execute two (2)
      original omnibus signature pages covering the Subscription Agreement and the
      Registration Rights Agreement (the “Subscription Documents”),
      which
      will be forwarded or delivered to the Placement Agent at the Placement Agent’s
      offices at the address set forth in Section 12 hereof, together with the
      subscriber’s check or other good funds in the full amount of the Offering Price
      for the number of Shares desired to be pur-chased.

    

    (b)
      All
      funds for subscriptions received from the Offering will be promptly forwarded
      by
      the Placement Agent or the Company, if received by it, to and deposited into
      a
      non-interest bearing escrow account (the “Escrow
      Account”)
      established for such purpose with Signature Bank (the “Escrow
      Agent”).
      All
      such funds for subscriptions will be held in the Escrow Account pursuant to
      the
      terms of an escrow agreement among the Company, the Placement Agent and the
      Escrow Agent. The Company will pay all fees related to the establishment and
      maintenance of the Escrow Account. Subject to the receipt of subscriptions
      for
      the Minimum Offering, the Company will either accept or reject, for any or
      no
      reason, the Subscription Documents in a timely fashion and at each Closing
      will
      countersign the Subscription Documents and provide duplicate copies of such
      documents to the Placement Agent for distribution to the Subscribers. The
      Company will give notice to the Placement Agent of its acceptance of each
      subscription. The Company, or the Placement Agent on the Company’s behalf, will
      promptly return to Subscribers incomplete, improperly completed, improperly
      executed and rejected subscriptions and give written notice thereof to the
      Placement Agent upon such return.

    

    (c)
      If
      subscriptions for at least the Minimum Offering have been accepted prior to
      the
      Termination Date, the funds therefor have been collected by the Escrow Agent
      and
      all of the conditions set forth elsewhere in this Agreement are fulfilled,
      a
      closing shall be held promptly with respect to Shares sold (the “First
      Closing”).
      Thereafter, the remaining Shares will continue to be offered and sold until
      the
      Termination Date. Additional closings (each, including the First Closing, a
      “Closing”,
      and
      all, the “Closings”)
      may
      from time to time be conducted at times mutually agreed to between the Placement
      Agent and the Company with respect to additional Shares sold, with the final
      closing (the “Final
      Closing”)
      to
      occur within 10 days after the Termination Date. Delivery of payment for the
      accepted subscriptions for Shares from the funds held in the Escrow Account
      will
      be made at each Closing at the Placement Agent’s offices against delivery of the
      Shares by the Company at the address set forth in Section 12 hereof (or at
      such other place as may be mutually agreed upon between the Company and the
      Placement Agent), net of amounts due to the Placement Agent and its Blue Sky
      counsel pursuant to Section 6(i) hereof as of such Closing. Executed
      certificates for the Shares and the Agent’s Warrants will be in such authorized
      denominations and registered in such names as the Placement Agent may request
      on
      or before the second full business day prior to the date of each Closing
      (“Closing
      Date”),
      and
      will be made available to the Placement Agent for checking and packaging at
      the
      Placement Agent’s office at least one full business day prior
      thereto.

     

    (d)
      If
      Subscription Documents for the Minimum Offering have not been received and
      accepted by the Company on or before the Termination Date for any reason, the
      Offering will be terminated, no Shares will be sold, and the Escrow Agent will,
      at the request of the Placement Agent, cause all monies received from
      subscribers for the Shares to be promptly returned to such subscribers without
      interest, penalty, expense or deduction. 

    

    6.
      Further
      Covenants of the Company.
      The
      Company hereby covenants and agrees that:

    

    (a)
      Except with the prior written consent of the Placement Agent, the Company shall
      not, at any time prior to the Final Closing, take any action which would cause
      any of the representations, warranties and covenants made by it in this
      Agreement not to be complete, accurate and correct on and as of each Closing
      Date with the same force and effect as if such representations, warranties
      and
      covenants had been made on and as of each such date.

    

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    (b)
      If,
      at any time prior to the Final Closing (i) any event shall occur which does
      or
      may materially affect the Company or as a result of which it might become
      necessary to amend or supplement the Memorandum so that the representations,
      warranties and covenants herein remain true, or (ii) in case it shall, in the
      reasonable opinion of counsel to the Placement Agent, be necessary to amend
      or
      supplement the Memorandum to comply with Regulation D or any other applicable
      securities laws or regulations, the Company shall, in the case of (i) above,
      promptly notify the Placement Agent and, in the event of either (i) or (ii)
      above shall, at its sole cost, prepare and furnish to the Placement Agent copies
      of appropriate amendments and/or supplements to the Memorandum in such
      quantities as the Placement Agent may request. The Company shall not at any
      time, whether before or after the Final Closing, prepare or use any supplement
      to the Memorandum of which the Placement Agent shall not previously have been
      advised and furnished with a copy, or to which the Placement Agent or its
      counsel will have reasonably objected in writing or orally (confirmed in writing
      within 24 hours), or which is not in compliance in all material respects with
      the Securities Act, the Regulations and other applicable securities laws. As
      soon as the Company is advised thereof, the Company shall advise the Placement
      Agent and its counsel, and confirm the advice in writing, of any order
      preventing or suspending the use of the Memorandum, or the suspension of the
      qualification or registration of the Shares for offering or the suspension
      of
      any exemption for such qualification or registration of the Shares for offering
      in any jurisdiction, or of the institution or threatened institution of any
      proceedings for any of such purposes, and the Company shall use its best efforts
      to prevent the issuance of any such order and, if issued, to obtain as soon as
      reasonably possible the lifting thereof.

    

    (c)
      The
      Company shall comply with the Securities Act, the Regulations, the Exchange
      Act,
      and the rules and regulations promulgated thereunder, all applicable state
      securities laws and the rules and regulations thereunder in the states in which
      the Shares are to be offered and in which Blue Sky counsel has advised the
      Placement Agent that the Shares are exempt from qualification or registration
      requirements, so as to permit the continuance of the sales of the Shares, and
      will file with the SEC, and shall promptly thereafter forward to the Placement
      Agent, any and all reports on Form D as are required.

    

    (d)
      The
      Company shall use its best efforts to qualify the Shares for sale under the
      securities laws of such jurisdictions in the United States as may be mutually
      agreed to by the Company and the Placement Agent, and the Company shall make
      such applications and furnish information as may be required for such purposes,
      provided that the Company shall not be required to qualify as a foreign
      corporation in any jurisdiction. The Company shall, from time to time, prepare
      and file such statements and reports as are or may be required to continue
      such
      qualifications in effect for so long a period as the Placement Agent may
      reasonably request.

    

    (e)
      The
      Company shall place a legend on the Shares issued to Subscribers stating that
      the securities evidenced thereby have not been registered under the Securities
      Act or applicable state securities laws and cannot be sold or otherwise
      transferred without an effective registration or an exemption therefrom, and
      may
      not be sold pursuant to the exemptions provided by Section 4(1) of the
      Securities Act or Rule 144 under the Securities Act, in accordance with the
      letter from Richard K. Wulff, Chief
      of
      the Office of Small Business Policy of the Securities and Exchange Commission’s
      Division of Corporation Finance,
      to Ken
      Worm of NASD Regulation, Inc., dated January 21, 2000. 

    

    (f)
      The
      Company shall apply the net proceeds from the sale of the Shares to fund its
      working capital requirements and for such other purposes as are specifically
      described under the “Use of Proceeds” section of the Memorandum. Except as set
      forth in the Memorandum, the Company shall not use any of the net proceeds
      of
      the Offering to repay indebtedness to officers, directors or stockholders of
      the
      Company without the prior written consent of the Placement Agent.

    

    (g)
      During the Offering Period, the Company shall make available for review by
      prospective purchasers of the Shares during normal business hours at the
      Company’s offices, upon their request, copies of all Company agreements to the
      extent that such shall not violate any obligation on the part of the Company
      to
      maintain the confidentiality thereof and shall afford each prospective purchaser
      of Shares the opportunity to ask questions of and receive answers from an
      officer of the Company concerning the terms and conditions of the Offering
      and
      the opportunity to obtain such other additional information necessary to verify
      the accuracy of the Memorandum to the extent it possesses such information
      or
      can acquire it without unreasonable expense or effort.

    

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    (h)
      Except with the prior written consent of the Placement Agent, the Company shall
      not, at any time prior to the later of the Final Closing or the Termination
      Date, (i) engage in or commit to engage in any transaction outside the ordinary
      course of business as described in the Memorandum, (ii) issue, agree to issue
      or
      set aside for issuance any securities (debt or equity) or any rights to acquire
      any such securities except as contemplated by the Memorandum, (iii) incur,
      outside the ordinary course of business, any material indebtedness, (iv) dispose
      of any material assets, (v) make any material acquisition or (vi) change its
      business or operations.

    

    (i)
      The
      Company shall pay all expenses incurred in connection with the preparation
      and
      printing of all necessary offering documents, amendments, and instruments
      related to the Offering and the issuance of the Shares and the Agent’s
      Securities, and shall also pay its own expenses for accounting fees, legal
      fees,
      bound volumes of closing documents, and other costs involved with the Offering.
      The Company shall provide at its own expense such quantities of the Memorandum
      and other documents and instruments relating to the Offering as the Placement
      Agent may reasonably request. In addition, the Company shall pay all reasonable
      filing fees, costs and legal fees for Blue Sky services and related filings
      and
      expenses of the Placement Agent’s counsel with respect to Blue Sky exemptions
      (collectively, the “Blue
      Sky Expenses”),
      $450
      per state, which shall be paid to the Company’s counsel upon execution of this
      Agreement for legal fees in connection with obtaining Blue Sky exemptions,
      and
      additional amounts, if any, of which shall be paid at each Closing, as
      applicable. The Blue Sky filings shall be prepared by the Company’s counsel for
      the Company’s account.  

     

    (j)
      Until
      the later of the Final Closing or the Termination Date, neither the Company
      nor
      any person or entity acting on its behalf shall negotiate with any other
      placement agent or underwriter with respect to a private or public offering
      of
      the Company’s or any affiliate’s debt or equity securities. Neither the Company
      nor anyone acting on its behalf shall, until the later of the Final Closing
      or
      the Termination Date, offer for sale to, or solicit offers to subscribe for
      Shares or other securities of the Company from, or otherwise approach or
      negotiate in respect thereof with, any other person, without the prior written
      consent of the Placement Agent. 

    

    7.
      Conditions
      of Placement Agent’s Obligations.
      The
      obligations of the Placement Agent hereunder are subject to the fulfillment,
      at
      or before each Closing, of the following additional conditions:

     

    (a)
      Each
      of the representations, warranties and covenants of the Company shall be true
      and correct when made on the date hereof and on and as of each Closing Date
      as
      though made on and as of each Closing Date.

    

    (b)
      The
      Company shall have performed and complied with all agreements, covenants and
      conditions required to be performed and complied with by it under the
      Transaction Documents at or before each Closing.

    

    (c)
      No
      order suspending the use of the Memorandum or enjoining the offering or sale
      of
      the Shares shall have been issued, and no proceedings for that purpose or a
      similar purpose shall have been initiated or pending, or, to the best of the
      Company’s knowledge, are contemplated or threatened.

    

    (d)
      As of
      the First Closing, the Company will have the authorized capitalization as
      described in the SEC filings.

     

    (e)
      The
      Placement Agent shall have received a certificate of the Chief Executive Officer
      of the Company, dated as of each Closing Date, certifying, in such detail as
      the
      Placement Agent may reasonably request, as to the fulfillment of the conditions
      set forth in paragraphs (a), (b), (c) and (d) above.

    

    (f)
      The
      Company shall have delivered to the Placement Agent: (i) a currently dated
      good
      standing certificate from the Secretary of State of Delaware and each
      jurisdiction in which the Company is qualified to do business as a foreign
      corporation and (ii) at the First Closing, certified resolutions of the
      Company’s Board of Directors approving this Agreement and the other Transaction
      Documents, and the transactions and agreements contemplated by this Agreement
      and the other Transaction Documents.

    

    (g)
      At
      each Closing, the Chief Executive Officer of the Company shall have provided
      a
      certificate to the Placement Agent confirming that there have been no material
      adverse changes in the condition (financial or otherwise) or prospects of the
      Company from the date of the financial statements included in the Memorandum,
      the absence of undisclosed known material liabilities (other than liabilities
      arising in the ordinary course of business subsequent to the date of the most
      recent balance sheet included in the Memorandum) and such other matters relating
      to the financial condition and prospects of the Company that the Placement
      Agent
      may reasonably request.

    

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    (h)
      At
      each Closing, the Company shall pay and deliver to the Placement Agent the
      Placement Agent’s Fee and the Agent’s Expenses, each calculated in accordance
      with Sections 3(d) and 3(f) hereof, respectively.

     

    (i)
      At
      the First Closing, the Company and the Placement Agent shall have entered into
      the Placement Agent Warrant Agreement. At each Closing the Company shall have
      delivered to the Placement Agent and/or its designees, the appropriate number
      of
      Agent’s Warrants, calculated in accordance with Section 3(e) hereof.

     

    (j)
      At
      the First Closing and each Closing thereafter, (i) the Company and each
      Subscriber, as of the date thereof, shall have entered into a Subscription
      Agreement and (ii) the Company, the Investors as of the date thereof and the
      Placement Agent shall have entered into the Registration Rights Agreement.
      (this
      was redundant of the first sentence)

     

    (k)
      There
      shall have been delivered to the Placement Agent a signed opinion of counsel
      to
      the Company (“Company
      Counsel”),
      dated
      as of each Closing Date, in form and substance reasonably satisfactory to
      counsel to the Placement Agent, including a 10b-5 opinion relating to the
      Memorandum, in the form and substance as Company Counsel shall have customarily
      delivered in transactions of this nature to the Placement Agent.

    

    (l)
      All
      proceedings taken at or prior to each Closing in connection with the
      authorization, issuance and sale of the Shares and the Agent’s Securities will
      be reasonably satisfactory in form and substance to the Placement Agent and
      its
      counsel, and such counsel shall have been furnished with all such documents,
      certificates and opinions as it may reasonably request upon reasonable prior
      notice in connection with the transactions contemplated hereby.

    

    7A. Mutual
      Condition.
      The
      obligations of the Placement Agent and the Company hereunder are subject to
      the
      execution by each Investor of a Subscription Agreement in form and substance
      acceptable to the Placement Agent and the Company.

     

    8.
      Indemnification.
      (a) The
      Company will (i) indemnify and hold harmless the Placement Agent, its selected
      dealers and their respective officers, directors, employees and each person,
      if
      any, who controls, within the meaning of the Securities Act, the Placement
      Agent
      and such selected dealers (each an “Indemnitee”)
      against, and pay or reimburse each Indemnitee for, any and all losses, claims,
      damages, liabilities or expenses whatsoever (or actions or proceedings or
      investigations in respect thereof), joint or several (which will, for all
      purposes of this Agreement, include, but not be limited to, all costs of defense
      and investigation and all attorneys’ fees and disbursements, including appeals),
      to which any Indemnitee may become subject (x) under the Securities Act or
      otherwise, in connection with the offer and sale of the Shares, and
      (y) as
      a
      result of the breach of any representation, warranty or covenant made by the
      Company herein, regardless of whether such losses, claims, damages, liabilities
      or expenses shall result from any claim of any Indemnitee or any third party;
      and (ii) reimburse each Indemnitee for any legal or other expenses reasonably
      incurred in connection with investigating or defending against any such loss,
      claim, action, damage or liability; provided,
      however,
      that
      the Company will not be liable in any such case to the extent that any such
      claim, damage or liability results from (A) an untrue statement or alleged
      untrue statement of a material fact made in the Memorandum, or an omission
      or
      alleged omission to state therein a material fact required to be stated therein
      or necessary to make the statements therein not misleading, made solely in
      reliance upon and in conformity with written information furnished to the
      Company by the Placement Agent specifically for use in the preparation thereof,
      or (B) any violations by the Placement Agent of the Securities Act or state
      securities laws that does not result from a violation thereof by the Company
      or
      any of its affiliates. In addition to the foregoing agreement to indemnify
      and
      reimburse, the Company will indemnify and hold harmless each Indemnitee from
      and
      against any and all losses, claims, damages, liabilities or expenses whatsoever
      (or actions or proceedings or investigations in respect thereof), joint or
      several (which shall for all purposes of this Agreement, include, but not be
      limited to, all costs of defense and investigation and all attorneys’ fees,
      including appeals) to which any Indemnitee may become subject insofar as such
      costs, expenses, losses, claims, damages or liabilities arise out of or are
      based upon the claim of any person or entity that he or it is entitled to
      broker’s or finder’s fees from any Indemnitee in connection with the Offering.
      The foregoing indemnity agreements are in addition to any liability that the
      Company may otherwise have.

    

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    (b)
      The
      Placement Agent will indemnify and hold harmless the Company, its officers,
      directors, employees and each person, if any, who controls the Company within
      the meaning of the Securities Act against, and pay or reimburse any such person
      for, any and all losses, claims, damages or liabilities or expenses whatsoever
      (or actions, proceedings or investigations in respect thereof) to which the
      Company or any such person may become subject under the Securities Act or
      otherwise, whether such losses, claims, damages, liabilities or expenses shall
      result from any claim of the Company, any of its officers, directors, employees,
      agents, or any person who controls the Company within the meaning of the
      Securities Act or any third party, but only to the extent that such losses,
      claims, damages or liabilities are based upon any untrue statement or alleged
      untrue statement of any material fact contained in the Memorandum or an omission
      or alleged omission to state therein a material fact required to be stated
      therein or necessary to make the statements therein not misleading, in either
      case, if made or omitted in reliance upon and in conformity with written
      information furnished to the Company by the Placement Agent, specifically for
      use in the preparation thereof. The Placement Agent will reimburse the Company
      or any such person for any legal or other expenses reasonably incurred in
      connection with investigating or defending against any such loss, claim, damage,
      liability or action, proceeding or investigation to which such indemnity
      obligation applies. The foregoing indemnity agreements are in addition to any
      liability that the Placement Agent may otherwise have.

    

    (c)
      Promptly after receipt by an indemnified party under this Section 7 of notice
      of
      the commencement of any action, claim, proceeding or investigation (the
“Action”),
      such
      indemnified party, if a claim in respect thereof is to be made against the
      indemnifying party under this Section 7, will notify the indemnifying party
      of
      the commencement thereof, but the omission to so notify the indemnifying party
      will not relieve it from any liability that it may have to any indemnified
      party
      under this Section 7 unless the indemnifying party has been substantially
      prejudiced by such omission. The indemnifying party will be entitled to
      participate in, and, to the extent that it may wish, jointly with any other
      indemnifying party, to assume the defense thereof sub-ject to the provisions
      herein stated, with counsel reasonably satisfactory to such indemnified party.
      The indemnified party will have the right to employ separate counsel in any
      such
      Action and to participate in the defense thereof, but the fees and expenses
      of
      such counsel will not be at the expense of the indemnifying party if the
      indemnifying party has assumed the defense of the Action with counsel reasonably
      satisfactory to the indemnified party, provided,
      however,
      that if
      the indemnified party shall be requested by the indemnifying party to
      participate in the defense thereof or shall have concluded in good faith and
      specifically notified the indemnifying party either that there may be specific
      defenses available to it that are different from or additional to those
      available to the indemnifying party or that such Action involves or could have
      a
      material adverse effect upon it with respect to matters beyond the scope of
      the
      indemnity agreements contained in this Agreement, then the counsel representing
      it, to the extent made necessary by such defenses, shall have the right to
      direct such defenses of such Action on its behalf and in such case the
      reasonable fees and expenses of such counsel in connection with any such
      participation or defenses shall be paid by the indemnifying party. No settlement
      of any Action against an indemnified party will be made without the consent
      of
      the indemnifying party and the indemnified party, which consent shall not be
      unreasonably withheld or delayed in light of all factors of importance to such
      party and no indemnifying party shall be liable to indemnify any person for
      any
      settlement of any such claim effected without such indemnifying party’s
      consent.

    

    9.
      Contribution.
      To
      provide for just and equitable contribution, if (i) an indemnified party makes
      a
      claim for indemnification pursuant to Section 7 hereof and it is finally
      determined, by a judgment, order or decree not subject to further appeal that
      such claim for indemnification may not be enforced, even though this Agreement
      expressly provides for indemnification in such case; or (ii) any indemnified
      or
      indemnifying party seeks contribution under the Securities Act, the Exchange
      Act, or otherwise, then each indemnifying party shall contribute to such amount
      paid or payable by such indemnified party in such proportion as is appropriate
      to reflect not only the relative benefits but also the relative fault of the
      Company on the one hand and the Placement Agent on the other in connection
      with
      the statements or omissions that resulted in such losses, claims, damages,
      liabilities or expenses (or actions in respect thereof), as well as any other
      relevant equitable considerations. The relative benefits received by the Company
      on the one hand and the Placement Agent on the other shall be deemed to be
      in
      the same proportion as the total net proceeds from the Offering (before
      deducting expenses) received by the Company bear to the total commissions and
      fees actually received by the Placement Agent. The relative fault, in the case
      of an untrue statement, alleged untrue statement, omission or alleged omission
      will be determined by, among other things, whether such statement, alleged
      statement, omission or alleged omission relates to information supplied by
      the
      Company or by the Placement Agent, and the parties’ relative intent, knowledge,
      access to information and opportunity to correct or prevent such statement,
      alleged statement, omission or alleged omission. The Company and the Placement
      Agent agree that it would be unjust and inequitable if the respective
      obligations of the Company and the Placement Agent for contribution were
      determined by pro
      rata
      allocation of the aggregate losses, liabilities, claims, damages and expenses
      or
      by any other method or allocation that does not reflect the equitable
      considerations referred to in this Section 9. No person guilty of a fraudulent
      misrepresentation (within the meaning of Section 11(f) of the Securities Act)
      will be entitled to contribution from any person who is not guilty of such
      fraudulent misrepresentation. For purposes of this Section 9, each person,
      if
      any, who controls the Placement Agent within the meaning of the Securities
      Act
      will have the same rights to contribution as the Place-ment Agent, and each
      person, if any, who controls the Company within the meaning of the Securities
      Act will have the same rights to contribution as the Company, subject in each
      case to the provisions of this Section 9. Anything in this Section 9 to the
      contrary notwithstanding, no party will be liable for contribution with respect
      to the settlement of any claim or action effected without its written consent.
      This Section 9 is intended to supersede, to the extent permitted by law, any
      right to contribution under the Securities Act, the Exchange Act or otherwise
      available.

    

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    10.
      Termination.
      (a) The
      Offering may be terminated by the Placement Agent at any time prior to the
      expiration of the Offering Period in the event that: (i) any of the
      representations, warranties or covenants of the Company contained herein, in
      the
      Memorandum or in any other Transaction Document shall prove to have been false
      or misleading in any material respect when actually made; (ii) the Company
      shall
      have failed to perform any of its material obligations hereunder or under any
      other Transaction Document; (iii) there shall occur any event, within the
      control of the Company, that could materially adversely affect the transactions
      contemplated by this Agreement or the other Transaction Documents or the ability
      of the Company to perform hereunder or thereunder; or (iv) the Placement Agent
      determines that it is reasonably unlikely that any of the conditions to the
      First Closing set forth herein will not, or cannot, be satisfied. In the event
      of any such termination by the Placement Agent pursuant to clauses (i), (ii),
      or
      (iii) of this Section 9(a), the Placement Agent shall be entitled to receive
      from the Company, in addition to any other right or remedy the Placement Agent
      may have hereunder, at law or otherwise, an amount equal to the sum of: (x)
      the
      Placement Agent’s Fee calculated as if there had been a closing on the Maximum
      Amount, and (y) the Agent’s Allowance for expenses incurred by the Placement
      Agent through the date of such termination (collectively, the “Termination
      Amount”).(b)
      The Offering may be terminated by the Company at any time prior to the
      expiration of the Offering Period in the event that the Placement Agent shall
      have failed to perform any of its material obligations hereunder. In the event
      of any such termination by the Company, the Placement Agent shall not be
      entitled to any amounts whatsoever except (i) any Agent’s Compensation earned
      through the Termination Date, provided there has been a Closing and (ii) as
      may
      be due under any indemnity or contribution obligation provided herein or any
      other Transaction Document, at law or otherwise.

    

    (c)
      The
      Offering may be terminated upon mutual agreement of the
      Company and Placement Agent at
      any
      time prior to the expiration of the Offering Period. If the Offering is
      terminated pursuant to this Section 10(c), then the Company shall pay the
      Placement Agent
      any
      Agent Expenses incurred through the date of such termination.

    

    (d)
      Before any termination by the Placement Agent under Section 10(a) or by the
      Company under Section 10(b) shall become effective, the terminating party shall
      give written notice to the other party of its intention to terminate the
      Offering (the “Termination
      Notice”).
      The
      Termination Notice shall specify the grounds for the proposed termination.
      If
      the specified grounds for termination, or their resulting adverse effect on
      the
      transactions contemplated hereby, are curable, then the other party shall have
      ten (10) days from the Termination Notice within which to remove such grounds
      or
      to eliminate all of their material adverse effects on the transactions
      contemplated hereby; otherwise, the Offering shall terminate.

    

    (e)
      In
      the event that a majority of the Company’s capital stock or assets is sold, or
      the Company is merged with or merges with or into another entity or otherwise
      combined with or acquired, or completes a public or private offering of its
      securities, or enters into a letter of intent or memorandum of understanding
      with respect to any of the foregoing, within one year after the Offering is
      terminated, then upon the closing of any such transaction, the Company or its
      successor (or the Company’s stockholders) shall pay the Placement Agent in cash,
      within five (5) business days of the closing of any such transaction, an amount
      equal to five percent (5%) of the total consideration received or receivable
      by
      the Company or any of its officers, directors or stockholders in connection
      with
      such transaction (the “Transaction
      Fee”);
      provided,
      however,
      the
      Transaction Fee shall be payable only in the event that the Offering was
      terminated as a result of (i) any of the events set forth in clauses (i) -
      (iii) in Section 9(a) above or (ii) the Company’s determination not to continue
      with the Offering for any reason other than as a result of Placement Agent’s
      failure to perform any of its material obligations hereunder. Notwithstanding
      the foregoing, however, if an event or transaction shall occur that would
      entitle the Placement Agent to receive both the Termination Amount and the
      Transaction Fee, then the Placement Agent may elect which of the two such fees
      it shall collect from the Company. In the event that the Placement Agent has
      elected to receive the Termination Amount and subsequently an event or
      transaction occurs that would have entitled the Placement Agent to receive
      a
      Transaction Fee in excess of such Termination Amount, then the Placement Agent
      may require the Company to pay it the difference between the Termination Amount
      already paid and the amount of the Transaction Fee to which it otherwise would
      have been entitled to receive from the Company.

    

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    (f)
      Upon
      any termination pursuant to this Section 10, the Placement Agent and the Company
      shall instruct the Escrow Agent to cause all monies received with respect to
      the
      subscriptions for Shares not accepted by the Company to be promptly returned
      to
      such subscribers without interest, penalty, expense or deduction. The Company
      shall be responsible for any outstanding fees owed to the Escrow
      Agent.

    

    11.
      Survival.
      (a) The
      obligations of the parties to pay any costs and expenses hereunder and to
      provide indemnification and contribution as provided herein shall survive any
      termination of the Offering and/or this Agreement.

    

    (b)
      The
      respective indemnities, covenants, agreements, representations, warranties
      and
      other statements of the Company and the Placement Agent set forth in or made
      pursuant to this Agreement will remain in full force and effect, regardless
      of
      any investigation made by or on behalf of, and regardless of any access to
      information by, the Company or the Placement Agent, or any of their officers
      or
      directors or any controlling person thereof, and will survive the sale of the
      Shares.

    

    12.
      Notices.
      All
      notices and other communications given or made pursuant hereto shall be in
      writing and shall be deemed to have been duly given or made as of the date
      delivered personally, or the date mailed if mailed by registered or certified
      mail (postage prepaid, return receipt requested) to the parties at the following
      addresses (or at such other address for a party as shall be specified by like
      changes of address which shall be effective upon receipt) or sent by electronic
      transmission, with confirmation received, if sent to the Placement Agent, will
      be mailed, delivered or telefaxed and confirmed to: YYYY, address, Attention:
      ZZZZ, telefax number #######, with a copy to: DDDD, address, telefax number
      ####,
      and if
      sent to the Company, to: Adagio Acquisition I, Inc., c/o Spencer Trask Ventures,
      Inc., 535 Masdison Avenue, 18th
      Floor,
      New York, New York 10022, Attention: William P. Dioguardi, Chief Executive
      Officer, telefax number (212) 888-9103, with a copy to: Feldman Weinstein &
Smith LLP, 420 Lexington Avenue, New York, New York 10170, Attention: David
      N.
      Feldman, Esq., telefax number (212) 997-4242.

     

    13.
      ARBITRATION;
      CHOICE OF LAW; COSTS.
      THE PARTIES HERETO AGREE TO SUBMIT ALL CONTROVERSIES TO ARBITRATION IN
      ACCORDANCE WITH THE PROVISIONS SET FORTH BELOW AND UNDERSTAND AND AGREE THAT
      (A)
      ARBITRATION IS FINAL AND BINDING ON THE PARTIES, (B) THE PARTIES ARE WAIVING
      THEIR RIGHTS TO SEEK REMEDIES IN COURT, INCLUDING THE RIGHT TO A JURY TRIAL,
      (C)
      PRE-ARBITRATION DISCOVERY IS GENERALLY MORE LIMITED AND DIFFERENT FROM COURT
      PROCEEDINGS, (D) THE ARBITRATOR’S AWARD IS NOT REQUIRED TO INCLUDE FACTUAL
      FINDINGS OR LEGAL REASONING AND ANY PARTY’S RIGHT TO APPEAL OR TO SEEK
      MODIFICATION OF RULINGS BY ARBITRATORS IS STRICTLY LIMITED, (E) THE PANEL OF
      NASD, INC. (THE “NASD”) ARBITRATORS WILL TYPICALLY INCLUDE A MINORITY OF
      ARBITRATORS WHO WERE OR ARE AFFILIATED WITH THE SECURITIES INDUSTRY, AND (F)
      ALL
      CONTROVERSIES THAT MAY ARISE BETWEEN THE PARTIES CONCERNING THIS AGREEMENT
      SHALL
      BE DETERMINED BY ARBITRATION PURSUANT TO THE RULES THEN PERTAINING TO THE NASD
      IN THE CITY OF NEW YORK, STATE OF NEW YORK.  JUDGMENT ON ANY AWARD OF ANY
      SUCH ARBITRATION MAY BE ENTERED IN THE SUPREME COURT OF THE STATE OF NEW YORK
      OR
      IN ANY OTHER COURT HAVING JURISDICTION OVER THE PERSON OR PERSONS AGAINST WHOM
      SUCH AWARD IS RENDERED.  THE PARTIES AGREE THAT THE DETERMINATION OF THE
      ARBITRATORS SHALL BE BINDING AND CONCLUSIVE UPON THEM. ANY NOTICE OF SUCH
      ARBITRATION OR FOR THE CONFIRMATION OF ANY AWARD IN ANY ARBITRATION SHALL BE
      SUFFICIENT IF GIVEN IN ACCORDANCE WITH THE PROVISIONS OF THIS AGREEMENT. 
THE PREVAILING PARTY, AS DETERMINED BY SUCH ARBITRATORS IN AN ARBITRATION
      PROCEEDING SHALL BE ENTITLED TO COLLECT ANY COSTS, DISBURSEMENTS AND REASONABLE
      ATTORNEY’S FEES FROM THE OTHER PARTY.

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    14.
      Modification;
      Performance; Waiver.
      No
      provision of this Agreement may be changed or terminated except by a writing
      signed by the party or parties to be charged therewith. Unless expressly so
      provided, no party to this Agreement will be liable for the performance of
      any
      other party’s obligations hereunder. Any party hereto may waive compliance by
      the other with any of the terms, provisions and conditions set forth herein;
      provided,
      however,
      that
      any such waiver shall be in writing specifically setting forth those provisions
      waived thereby. No such waiver shall be deemed to constitute or imply waiver
      of
      any other term, provision or condition of this Agreement. 

    

    15.
      Entire
      Agreement.
      This
      Agreement, together with any other agreement referred to herein, supersedes
      all
      prior agreements between the parties with respect to the Shares to be offered
      and sold hereunder and the subject matter hereof.

    

    16.
      Execution
      in Counterparts.
      This
      Agreement may be executed in counterparts (and by facsimile), each of which
      shall be deemed to be an original, and all of which taken together shall
      constitute one and the same agreement (and all signatures need not appear on
      anyone counterpart). This Agreement shall become effective when one or more
      counterparts has been signed and delivered by each of the parties
      hereto.

    

    17.
      Severability.
      If any
      provision of this Agreement is held to be illegal, invalid or unenforceable
      under any present or future laws, such provision shall be fully severable.
      This
      Agreement shall be construed and enforced as if such illegal, invalid or
      unenforceable provision had never comprised a part of this Agreement, and the
      remaining provisions of this Agreement shall remain in full force and effect
      and
      shall not be affected by the illegal, invalid or unenforceable provision or
      by
      its severance from this Agreement. Furthermore, in lieu of each such illegal,
      invalid or unenforceable provision there shall be deemed added automatically
      as
      a part of this Agreement a provision as similar in terms to such illegal,
      invalid or unenforceable provision as may be possible to cause such provision
      to
      be legal, valid and enforceable.

    

    18.
      Headings.
      The
      captions and headings used in this Agreement are for convenience only and do
      not
      in any way affect, limit, amplify or modify the terms and provisions of this
      Agreement.

    

    [SIGNATURE
      PAGE TO FOLLOW]

     

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    If
      the
      foregoing is in accordance with your understanding of our agreement, kindly
      sign
      and return this Agreement, whereupon it will become a binding agreement between
      the Company and the Placement Agent in accordance with
      its
      terms.

     

    
      	 	 	 
	 	Very truly yours, 
	 	 
	 	ADAGIO
              ACQUISITION
              I, INC.
	 
 	 
 	 
 
	 	By:  	/s/ William
              P. Dioguardi
	 	
              
Name:
              William P. Dioguardi
	 	Title:
              Chief Executive Officer

    

    
      	 	 	 
	 	Accepted and agreed to this
27th
              day of June, 2006.
	 	 
	 	YYYY
	 
 	 
 	 
 
	 	By:  	/s/ YYYY
	 	
              
Name:
              BBBB
	 	Title:
              President

    

     

    
      
        
        

      

      14

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