Document:

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                                                                    Exhibit 10.1

                          CONTRACT OF PURCHASE AND SALE

     This Contract of Purchase and Sale ("CONTRACT") is made and entered into as
of the 16th day of May, 2007 (the "EFFECTIVE DATE"), by and between NEORX
MANUFACTURING GROUP, INC., a Washington corporation (formerly known as NRX
Acquisition Corporation, a Washington corporation) ("SELLER"), and MOLECULAR
INSIGHT PHARMACEUTICALS, INC., a Massachusetts corporation ("BUYER").

                                    RECITALS:

     A. Seller owns certain improved property known as 3100 Jim Cristal Road
located in the City of Denton, Denton County, Texas containing ten and one half
(10.5) acres, more or less (the "LAND"), and more particularly described as Lot
1R, in Block 1, Harley Addition, an addition to the City of Denton, Denton
County, Texas, according to the map or plat thereof recorded in Cabinet V, Slide
373, Plat Records of Denton County, Texas (the "PLAT").

     B. Seller has agreed to sell and Buyer has agreed to purchase the Land and
the Property (as defined in Section 1.1) on the terms and conditions hereinafter
set forth.

                                   AGREEMENT:

     NOW, THEREFORE, in consideration of the mutual covenants, representations,
warranties, and agreements contained herein, and for other good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, Seller
and Buyer covenant and agree as follows:

                                   ARTICLE 1.

                         AGREEMENT OF PURCHASE AND SALE

     1.1. Agreement to Sell and Purchase Property. Subject to the terms and
provisions of this Contract, Seller agrees to sell to Buyer, and Buyer agrees to
purchase from Seller, the Land, together with all improvements located thereon
(the "IMPROVEMENTS"), and all of Seller's right, title and interest in and to
any rights, benefits, privileges, easements, covenants, tenements,
hereditaments, and appurtenances thereon or in any way appertaining thereto,
including, but not limited to, any right, title, and interest of Seller in and
to adjacent streets, alleys, strips, roads and rights-of-way, public or private,
open or proposed, and any other appurtenant access, air, water, riparian,
development, utility and solar rights. The purchase and sale contemplated by
this Contract shall also include all of Seller's right, title and interest in
and to the tangible personal property described on Exhibit A to this Contract,
which is located on the Land and/or within the Improvements (the "PERSONAL
PROPERTY"). The purchase and sale contemplated by this Contract shall also
include the assignment by Seller to Buyer of all of Seller's right, title and
interest in and to the following intangible personal property, to the extent the
same is assignable: all warranties and guaranties relating to the Land and/or
the Improvements and all permits, licenses, occupancy certificates and

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other governmental approvals related to the Land and/or the Improvements (the
"INTANGIBLE PROPERTY"). The Land, the Improvements, the Personal Property, and
the Intangible Property are collectively referred to in this Contract as the
"PROPERTY."

     1.2. Reservation of Mineral Rights. Notwithstanding anything to the
contrary contained elsewhere in this Contract, by reservation in the deed
delivered to Buyer at Closing, Seller shall reserve unto itself, its successors
and assigns all of Seller's rights, titles and interests in and to any and all
oil, gas, mineral, metal and other valuable deposits (collectively, the
"RESERVED MINERALS") located under the surface of the Property, of every name
and nature whatsoever, regardless of whether the presence of same is currently
known or unknown and regardless of the current or future commercial value of
same, including, by way of example but not by way of limitation, coal, iron,
clay, gravel, sand, limestone, silica, natural gases, methane, hydrocarbons and
related materials, fossils, precious metals, gemstones, ores and all other
valuable bedded deposits. Seller's rights in and to the Reserved Minerals shall
not, however, include any right of access over and upon area from the surface of
the Property to a depth of one hundred fifty (150) feet ("SURFACE").
Accordingly, in conducting operations of whatsoever nature with respect to the
exploration for, exploitation of, mining, production, processing, transporting
and/or marketing of the Reserved Minerals from the Property or in connection
with the conduct of other activities associated with the ownership of the
Reserved Minerals, Seller shall be prohibited from using, entering upon, or
occupying any operation on the Surface of the Property or placing any fixtures,
equipment, buildings or structures thereon. Seller's relinquishment of Surface
rights to the Property shall not be construed as impairing the right of Seller
and Seller's successors and assigns to exploit, explore for, develop, mine, or
produce any of the Reserved Minerals with wells, mines, shafts or excavations
drilled or commenced on the surface of lands other than the Property, including,
but not limited to, directional wells bottomed beneath or drilled through any
part (other than the Surface) of the Property or by pooling its interest in the
Reserved Minerals with lands adjoining the Property in accordance with the laws
and regulations of the State of Texas.

                                   ARTICLE 2.

                                 PURCHASE PRICE

Purchase Price. The PURCHASE PRICE (so called in this Contract) to be paid by
Buyer to Seller for the Property is THREE MILLION AND NO/100 DOLLARS
($3,000,000.00). The Purchase Price shall be payable to Seller at the Closing
(defined in Section 10.1) in immediately available funds, including by wire
transfer in accordance with instructions provided by the Title Company (defined
below) or Seller at least five (5) days prior to the Closing.

                                   ARTICLE 3.

                                  EARNEST MONEY

     3.1. Earnest Money. Upon mutual execution of this Contract by Buyer and
Seller and as a condition to its effectiveness, Buyer shall deliver to Stewart
Title Guaranty Company - National Title Services (the "TITLE COMPANY"), 1000
Second Avenue, Suite

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1620, Seattle, Washington 98104, Attention: Kim Azure, as escrow agent (the
"ESCROW AGENT"), the sum of ONE HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS
($150,000.00) (the "EARNEST MONEY") in immediately available funds. The Earnest
Money shall be held and disbursed by the Title Company in accordance with the
terms and conditions of this Contract. The Escrow Agent shall deposit the
Earnest Money in an interest bearing account or investment, and all interest
earned thereon shall be included in the term Earnest Money as used in this
Contract and disbursed as a part of the Earnest Money. Except as expressly
provided to the contrary elsewhere in this Contract, the Earnest Money shall
become non-refundable to Buyer upon the expiration of the Feasibility Review
Period (as defined in Section 6.1 below). In the event that the purchase and
sale of the Property occurs, the Earnest Money shall be applied to the Purchase
Price. Otherwise, the Escrow Agent shall disburse the Earnest Money in the
manner provided for in this Contract.

     3.2. Independent Contract Consideration. Notwithstanding anything contained
elsewhere in this Contract, Seller and Buyer have bargained for and agreed that
One Hundred and No/100 Dollars ($100.00) out of Buyer's deposit described in
Section 3.1 above shall be consideration for Seller's execution and delivery of
this Contract (the "Independent Contract Consideration"). This Independent
Contract Consideration shall not be considered a part of the Earnest Money, is
independent of any other consideration or payment provided in this Contract, is
non-refundable, and shall be retained by Seller notwithstanding any other
provision of this Contract.

                                   ARTICLE 4.

                              INTENTIONALLY OMITTED

     4.1. Intentionally Omitted

                                   ARTICLE 5.

                                  TITLE REVIEW

     5.1. Title Commitment. Within the (10) Day Period, Seller shall, at is sole
cost and expense furnish to Buyer a current title commitment (the "TITLE
COMMITMENT") for a standard TLTA form T-1 owner's policy of title insurance
issued through the Escrow Agent, setting forth the status of title of the Land
and all exceptions, including rights-of-way, easements, restrictions, covenants,
reservations, and other conditions, if any, affecting the Land which would
appear in an owner's title insurance policy ("OWNER'S POLICY OF TITLE
INSURANCE"), if issued, together with complete and legible copies of all
instruments referred to in the Title Commitment affecting title to the Land. The
Title Company shall also provide Buyer, at Closing, with copies of tax
certificates evidencing that all ad valorem taxes due and payable for periods
prior to the calendar year in which the Closing occurs have been paid in full.
The Property shall be conveyed to Buyer subject to non-delinquent taxes and
assessments.

     5.2. Title Review Period. Buyer shall within the 10 Day Period or ten (10)
Business Days after its receipt of the Title Commitment and copies of all
documents

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referenced therein, whichever is later (the "TITLE REVIEW PERIOD"), notify
Seller of any objections, in Buyer's sole and absolute discretion, Buyer has to
any matters shown or referred to in the Title Commitment. Any exception or
matter to which Buyer does not make an objection shall be a "PERMITTED
EXCEPTION." If Buyer gives Seller Notice (defined in Section 14.5) of any
unacceptable exceptions or conditions ("OBJECTIONS") within the Title Review
Period, Seller shall have five (5) Business Days after receipt of Buyer's
Objections ("SELLER'S CURE PERIOD") in which to eliminate or modify such
Objections. If Seller is unable or unwilling to eliminate or modify such
Objections to the reasonable satisfaction of Buyer within Seller's Cure Period,
Buyer may terminate this Contract by written notice to Seller and the Escrow
Agent, which notice must be given within five (5) Business Days after the
expiration of Seller's Cure Period, in which event this Contract shall
terminate, and the Escrow Agent shall return the Earnest Money to Buyer, and
thereafter the parties hereto shall have no further rights, duties, or
obligations under this Contract other than obligations that expressly survive
the Closing or earlier termination of this Contract. If Buyer does not terminate
this Contract in accordance with the preceding sentence, the Buyer's Objections
not removed or cured shall be deemed Permitted Exceptions.

     Seller shall have no obligation to cure title objections (including Buyer's
Objections) except liens of an ascertainable amount created by, under or through
Seller; provided that with respect to such liens Seller shall, at Seller's sole
option, either (i) cause such liens to be released at the Closing or (ii) with
Buyer's reasonable consent provide information to the Title Company sufficient
to enable the Title Company to insure without exception to such liens at
Closing.

     As provided in Section 9.1.1 below, it shall be a condition precedent to
Buyer's obligation to purchase the Property that the Title Company shall, at the
Closing of the transaction contemplated by this Contract, issue to Buyer, at
Seller's cost and expense, an Owner's Policy of Title Insurance in accordance
with the Title Commitment, subject only to the standard printed exceptions
contained in such form of policy (with taxes limited to those "not yet due or
payable") and the Permitted Exceptions. Buyer may, at its sole cost and expense,
elect to obtain extended coverage and/or endorsements to the Owner's Policy of
Title Insurance.

     After the Effective Date, Seller shall not deliberately place on the
Property any lien, encumbrance or other exception other than those items that
may become Permitted Exceptions in accordance with this Contract or those
identified in the Title Commitment. Seller shall retain the risk of liens and
title defects that materialize after the Feasibility Review Period and before
the Closing, in which event the terms of this Section 5.2 shall apply. Nothing
in this Section 5.2 shall limit Buyer's rights set forth in Section 6.6 to
terminate this Contract.

                                   ARTICLE 6.

                               FEASIBILITY REVIEW

     6.1. Feasibility Review. Seller agrees that during the period commencing on
the Effective Date and ending on the 45th day after the Effective Date at 5:00
p.m., Denton,

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Texas time as the same may be extended as provided below (the "FEASIBILITY
REVIEW PERIOD"), Buyer, personally or through its authorized agents or
representatives, shall be entitled to enter the Property upon reasonable notice
during normal business hours (8 a.m. to 5 p.m., Monday through Friday) for the
sole purpose of analysis or other tests and conducting its due diligence
inspection on the Property in anticipation of closing the transaction
contemplated by this Contract ("ACCESS RIGHTS"). Such Access Right shall include
the right to conduct such investigations, surveys, studies, readings and tests
as Buyer deems necessary or advisable; provided, however, that Buyer shall not
materially interfere with Seller's activities on the Property and will not
permanently damage the Property. Buyer shall immediately repair any damage
resulting from Buyer's activities and return the Property to the same condition
as existed before its inspection.

     6.2. Property Information Documents. Seller shall within the 10 Day Period
deliver to Buyer copies of the following materials that are in Seller's or its
parent company's possession and relate to the Property:

          6.2.1. the most recent survey of the Property, being that certain
survey dated July 23, 2003 and prepared by Huitt-Zollars, Inc. (the "SURVEY");

          6.2.2. building and site plans and specifications for the Property;

          6.2.3. any engineering, soils, and other reports or information
concerning the physical condition of the Property;

          6.2.4. any environmental site assessment reports concerning the
environmental condition of the Property, including, without limitation, the
documents described in Section 7.1.6 below;

          6.2.5. operating expense statements for the prior three (3) years;

          6.2.6. real estate tax bills for the prior three (3) years;

          6.2.7. any information or reports regarding planned or recent capital
expenditures, improvements, maintenance reports or significant repairs performed
on or about the Property;

          6.2.8. any agreements involving ongoing services and periodic payment
hereof affects the Property that would be effective after the Closing ("PROPERTY
AGREEMENTS"); and

          6.2.9. a disclosure statement regarding the Property, in the form
attached to this Contract as Exhibit B (the "PROPERTY INFORMATION DISCLOSURE").

Should Seller discover additional documents of a type described in this Section
6.2 after the 10 Day Period has expired, Seller shall promptly deliver copies of
those additional documents to Buyer. If Seller so delivers any additional
documents to Buyer, the Feasibility

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Review Period shall be extended until 5:00 p.m. on the date that is five (5)
Business Days after Buyer receives the additional documents.

     6.3. Insurance. Throughout the Feasibility Review Period, Buyer shall carry
commercial general liability insurance in an amount of at least $2,000,000 and
shall, prior to entering the Property, deliver to Seller a certificate of
insurance evidencing such coverage to Seller, showing Seller as an additional
insured.

     6.4. Notice and Observation. With respect to any investigation, study or
test to be commissioned by Buyer in regard to the soil or subsurface condition
of the Land, Buyer or Buyer's agent or representative will notify Seller when
any such investigation, study or test is to be conducted on or near the Land and
Seller or its agents or representatives may observe such investigation, study or
test.

     6.5. Records and Reports; Confidentiality. All information of any kind or
nature that is generated as a result of Buyer's entry onto the Property shall be
and remain confidential and shall not be revealed or disclosed to any other
person or entity other than to Buyer's lender, officers, directors, accountants,
rating agencies, attorneys', consultants, brokers, and advisors without Seller's
prior written approval, which may be withheld in Seller's sole and absolute
discretion provided, however, that the foregoing confidentiality requirements
shall not apply to information already in the public domain or to information
required to be disclosed by court order or the requirements of governmental
bodies and as otherwise provided in Section 14.19 below. The provisions of this
Section 6.5 shall survive the termination of this Contract.

     6.6. Buyer's Right to Terminate Contract During Feasibility Review Period.
Prior to the expiration of the Feasibility Review Period, Buyer may give Notice
to Seller and the Escrow Agent that Buyer has terminated this Contract, due to
Buyer's dissatisfaction, in its sole and absolute discretion, with the results
of its feasibility review, whereupon the Escrow Agent shall return the Earnest
Money to Buyer and thereafter Seller and Buyer shall have no further obligations
or liabilities to each other under this Contract other than obligations that
expressly survive the closing or termination of this Contract.

     6.7. Mechanic's and Materialmen's Liens. Buyer shall maintain the Property
free and clear of any and all liens or claims of liens solely to the extent
arising from any activities of Buyer on the Property. Buyer shall promptly
notify Seller of any such lien or claim and shall at Buyer's sole cost,
discharge or remove the same by bonding, payment or otherwise and shall notify
Seller promptly when it has done so. If within twenty (20) days of Buyer having
notice of such lien, Buyer fails to cause such lien or claim to be released or
discharged by payment or otherwise, or if Buyer fails to provide a bond in lieu
thereof, Seller shall have the right (but not the obligation) to pay all such
sums necessary to obtain such release and discharge and upon receipt of demand
from Seller, Buyer shall reimburse Seller all such sums expended by Seller to
obtain such release and discharge. The provisions of this Section 6.7 shall
survive the termination of this Contract.

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     6.8. Inspection Indemnification. BUYER, BY EXECUTION OF THIS CONTRACT,
INDEMNIFIES AND AGREES TO HOLD SELLER HARMLESS FROM ANY CLAIM, LIABILITY, LOSS,
DAMAGE, COST, AND EXPENSE, INCLUDING REASONABLE ATTORNEYS' FEES, INCURRED BY
SELLER TO THE EXTENT THE SAME ARE IN CONNECTION WITH OR ARISE OUT OF BUYER'S
ACTIVITIES UPON THE PROPERTY, WHETHER ALLOWED OR NOT ALLOWED UNDER ARTICLE 6,
INCLUDING, WITHOUT LIMITATION, MECHANIC'S AND MATERIALMEN'S LIENS, PROPERTY
DAMAGE, AND INJURY TO BUYER'S EMPLOYEES OR SUB-CONTRACTORS (EXCEPT TO THE EXTENT
THE SAME ARE CAUSED DUE TO SELLER'S NEGLIGENCE OR WILLFUL MISCONDUCT). THE
PROVISIONS OF THIS SECTION 6.8 SHALL SURVIVE THE CLOSING OR TERMINATION OF THIS
CONTRACT.

                                   ARTICLE 7.

                          REPRESENTATIONS, WARRANTIES,
                       COVENANTS, AND AGREEMENTS OF SELLER

     7.1. Representations and Warranties of Seller. Seller makes the following
representations and warranties to Buyer as of the Effective Date.

          7.1.1. This Contract has been duly authorized by all necessary action
on the part of Seller, has been duly executed and delivered by Seller.

          7.1.2. Seller has good and indefeasible title to the Land and the full
right and power to sell and convey the Property to Buyer as provided in this
Contract.

          7.1.3. Seller has not (i) made a general assignment for the benefit of
creditors, (ii) filed any voluntary petition in bankruptcy or suffered the
filing of any involuntary petition by Seller's creditors, (iii) suffered the
appointment of a receiver to take possession of all, or substantially all, of
Seller's assets, (iv) suffered the attachment or other judicial seizure of all,
or substantially all, of Seller's assets, (v) admitted in writing Seller's
inability to pay its debts as they come due, or (vi) made an offer of
settlement, extension, or composition to its creditors generally.

          7.1.4. To Seller's knowledge, Seller has not received any written or
oral notice of (1) any pending or threatened litigation or governmental
proceeding which would affect the Property; (2) any violation or alleged
violation of any governmental requirement affecting the Property or of any
environmental condition affecting the Property which would require remedial
action except as disclosed in the Final Status Survey Report described in 7.1.6
below; or (3) any condemnation or threatened condemnation which would affect the
Property.

          7.1.5. To Seller's knowledge, there is no action, suit or proceeding
pending or threatened against or affecting Seller that could materially and
adversely affect the Property, or the use, operation, condition or occupancy
thereof, or could materially and adversely affect the ability of Seller to
perform its obligations hereunder.

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          7.1.6. Except for information disclosed in that one certain Phase I
Environmental Site Assessment prepared by The Provident Group for NeoRx
Corporation, dated February 21, 2001 and that one certain Final Status Survey
Report for the NeoRx Facility in Denton Texas prepared by Duratek, Inc. for
NeoRx Corporation, dated December 2005, to Seller's knowledge, without inquiry,
Seller has no knowledge of any material adverse matter concerning the
environmental condition of the Property.

          7.1.7. Seller is not a foreign person as defined in Section 1445 of
the Internal Revenue Code of 1986, as amended.

          7.1.8. Seller has obtained an amendment to its Radioactive Material
License No. L05433, issued by the Texas Department of Health Bureau of Radiation
Control on December 20, 2005 ("SELLER'S LICENSE") in the form attached to this
Contract as Exhibit C, which amendment terminated Seller's License.

          7.1.9. Since the date of the Survey, Seller has not constructed any
new structures on the Land, nor received notice of any encroachments over the
boundaries of the Land that are not noted on the Survey or reflected in the
Title Commitment.

The use of the phrase "to Seller's knowledge," "to the knowledge of" or "to the
best knowledge of" herein to qualify any statement indicates only that the
Seller is unaware of facts or circumstances which make the representation or
warranty false or misleading in some material respect; the phrase is not
intended to suggest that Seller does indeed know all facts or circumstances
necessary to establish that the representation or warranty is true. It is
expressly provided that each reference to "knowledge" provided in this Section
7.1 shall mean and refer exclusively to the knowledge of Caroline M. Loewy,
Chief Financial Officer of Seller.

     7.2. Representations and Warranties at Closing. If, prior to Closing,
Seller or Buyer knows that any representation or warranty made in Section 7.1 is
untrue, or if any of the representations made in the Property Information
Disclosure become untrue, it shall immediately notify the other party of its
discovery thereof. As provided in Section 9.1.1 below, it shall be a condition
precedent to Buyer's obligation to purchase the Property that, on the Closing
Date, Seller shall make the same representations and warranties made to Buyer in
Section 7.1 and that the representations made in the Property Information
Disclosure remain true. If such representation or warranty cannot be made by
Seller at Closing, Buyer may as Buyer's sole and exclusive remedy, either (1)
terminate this Contract whereupon the Earnest Money shall be refunded to Buyer
and neither party shall have any further rights or obligations pursuant to this
Contract, other than as set forth herein with respect to rights or obligations
which survive termination, or (2) waive its objections and close the transaction
as contemplated herein and without any reduction in the Purchase Price. If Buyer
elects to terminate this Contract, then Seller shall reimburse to Buyer its Due
Diligence and Contract Costs (as that term is defined in Section 11.1 below) up
to the sum of Fifty Thousand Dollars ($50,000).

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     7.3. Survival. The foregoing limitation on Buyer's remedies are intended to
apply only to a breach of a representation or warranty of Seller that is
discovered by Buyer on or before the Closing Date, and such limitation on
Buyer's remedies is not intended to apply to a breach of a representation or
warranty that is first discovered by Buyer after the Closing Date. The foregoing
representations and warranties shall survive the Closing for a period of two
years after the Closing Date. Any claim made by Buyer with respect to a breach
of a representation or warranty must be alleged in a legal proceeding instituted
by Buyer on or before the expiration of such two year period, after which date
such representations and warranties, to the extent a breach has not been timely
raised, shall be deemed to have merged into the Deed, and any claim related
thereto shall have been waived.

     7.4. Covenants of Seller. Seller makes the following covenants to Buyer:

          7.4.1. From the Effective Date through the Closing Date, Seller shall
maintain the Property in substantially its present condition, subject to
reasonable wear and tear, damage, casualty and/or condemnation.

          7.4.2. From the Effective Date through the Closing Date, Seller shall
continue all existing insurance policies for the Property in full force and
effect.

          7.4.3. From the Effective Date through the Closing Date, Seller shall
not enter into any new Property Agreements without the prior written consent of
Buyer unless such new Property Agreements are terminable or cancelable on or
before the Closing Date.

          7.4.4. From the Effective Date through the Closing Date, Seller shall
not apply for any changes in or to the zoning or land use designations
applicable to the Property without Buyer's prior written consent.

          7.4.5. From the Effective Date through the Closing Date, Seller shall
not, without Buyer's prior written consent, lease, transfer, mortgage, pledge,
or convey its interest in the Property or any portion thereof to any third
party, or create any new easement, restriction or covenant affecting the Land
that would survive the Closing Date.

          7.4.6. From the Effective Date through the Closing Date, Seller shall
promptly notify Buyer of any material change with respect to the Property or
with respect to any information heretofore or hereafter furnished by Seller to
Buyer regarding the Property, of which Seller obtains knowledge which would make
any of the representations, warranties, covenants and agreements contained in
this Article 7 and/or in the Property Information Disclosure, untrue or
materially misleading.

     7.5. Disclaimer. BUYER AND SELLER ACKNOWLEDGE THAT THEY ARE SOPHISTICATED
PARTIES AND ARE REPRESENTED BY COUNSEL. EXCEPT FOR THE SPECIAL WARRANTY OF TITLE
TO BE CONTAINED IN SELLER'S DEED AND THE BILL OF SALE AND THE EXPRESS
REPRESENTATIONS AND WARRANTIES SET FORTH IN THIS ARTICLE 7, THE PROPERTY WILL BE
CONVEYED AND TRANSFERRED TO BUYER "AS IS, WHERE IS AND WITH ALL FAULTS." SELLER
DOES NOT WARRANT OR MAKE ANY REPRESENTATION,

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EXPRESS OR IMPLIED, AS TO ITS FITNESS FOR A PARTICULAR PURPOSE, MARKETABILITY,
DESIGN, QUANTITY, QUALITY, LAYOUT, FOOTAGE, PHYSICAL OR ENVIRONMENTAL CONDITION,
OPERATION, COMPLIANCE WITH SPECIFICATIONS, ABSENCE OF LATENT DEFECTS, OR
COMPLIANCE WITH LAWS AND REGULATIONS; OR THE FITNESS OF THE PROPERTY FOR BUYER'S
PLANNED USE. IF CLOSING SHALL OCCUR, EXCEPT FOR LIABILITY ARISING OUT OF THE
INACCURACY OF THE EXPRESS REPRESENTATIONS AND WARRANTIES SET FORTH IN THIS
CONTRACT, SELLER AND SELLER'S AFFILIATES SHALL BE DEEMED TO BE AUTOMATICALLY
RELEASED BY BUYER AND ITS SUCCESSORS AND ASSIGNS OF AND FROM ALL LIABILITIES,
OBLIGATIONS AND CLAIMS, KNOWN OR UNKNOWN, THAT BUYER MIGHT OTHERWISE HAVE HAD
AGAINST SELLER OR SELLER'S AFFILIATES, OR THAT ARISE IN THE FUTURE BASED IN
WHOLE OR IN PART UPON THE PRESENCE OF RADIOACTIVE, HAZARDOUS OR TOXIC MATERIALS
OR OTHER ENVIRONMENTAL CONTAMINATION ON, WITHIN OR MIGRATING FROM THE LAND
(INCLUDING, WITHOUT LIMITATION, CLAIMS ASSERTED UNDER ANY ENVIRONMENTAL LAWS).
THE TERM "SELLER'S AFFILIATES" AS USED HEREIN MEANS (A) AN ENTITY THAT DIRECTLY
OR INDIRECTLY CONTROLS, IS CONTROLLED BY OR IS UNDER COMMON CONTROL WITH SELLER,
OR (B) AN ENTITY AT LEAST A MAJORITY OF WHOSE ECONOMIC INTEREST IS OWNED BY
SELLER OR WHICH OWNS SELLER; AND THE TERM "CONTROL" MEANS THE POWER TO DIRECT
THE MANAGEMENT OF SUCH ENTITY THROUGH VOTING RIGHTS, OWNERSHIP OR CONTRACTUAL
OBLIGATIONS. THE TERM "ENVIRONMENTAL LAWS" AS USED HEREIN INCLUDES WITHOUT
LIMITATION, THE COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION AND LIABILITY
ACT, THE SOLID WASTE DISPOSAL ACT (INCLUDING THE RESOURCE CONSERVATION AND
RECOVERY ACT), THE CLEAN WATER ACT, THE CLEAN AIR ACT, THE TOXIC SUBSTANCES
CONTROL ACT, THE SAFE DRINKING WATER ACT, AS ALL THE SAME HAVE BEEN OR MAY BE
AMENDED, AND THE REGULATIONS PROMULGATED PURSUANT THERETO, OR ANY OTHER FEDERAL,
STATE OR LOCAL ENVIRONMENTAL LAW, ORDINANCE, RULE OR REGULATION. THE PROVISIONS
OF THIS SECTION 7.4 SHALL SURVIVE THE CLOSING.

                                   ARTICLE 8.

                          REPRESENTATIONS, WARRANTIES,
                       COVENANTS, AND AGREEMENTS OF BUYER

     8.1. Representations and Warranties of Buyer. Buyer makes the following
representations and warranties to Seller as of the Effective Date:

          8.1.1. This Contract has been duly authorized by all necessary action
on the part of Buyer, has been duly executed and delivered by Buyer.

          8.1.2. Buyer has not (i) made a general assignment for the benefit of
creditors, (ii) filed any voluntary petition in bankruptcy or suffered the
filing of any involuntary petition by Buyer's creditors, (iii) suffered the
appointment of a receiver to take possession of all or substantially all of
Buyer's assets, (iv) suffered the attachment or other judicial seizure of all,
or substantially all, of Buyer's assets, (v) admitted in writing Buyer's
inability to pay its debts as they come due, or (vi) made an offer of
settlement, extension or composition to its creditors generally.

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     8.2. Representations and Warranties at Closing. If, prior to Closing, Buyer
or Seller knows that any representation or warranty made in Section 8.1 is
untrue, it shall immediately notify the other party of its discovery thereof. On
the Closing Date, Buyer agrees to make the same representations and warranties
made to Seller in Section 8.1. If such representation or warranty cannot be made
by Buyer at Closing, Seller may as Seller's sole and exclusive remedy, either
(1) terminate this Contract whereupon the Earnest Money shall be delivered to
Seller and neither party shall have any further rights or obligations pursuant
to this Contract, other than as set forth herein with respect to rights or
obligations which survive termination, or (2) waive its objections and close the
transaction as contemplated herein and without any increase in the Purchase
Price.

     8.3. Buyer's Covenants. BUYER INTENDS TO ASSESS THE ENVIRONMENTAL CONDITION
OF THE PROPERTY DURING THE FEASIBILITY REVIEW PERIOD, AND SHALL RELY ON THE
ASSESSMENT AND OPINIONS OF BUYER'S CONTRACTORS AND CONSULTANTS IN DETERMINING
THE ENVIRONMENTAL CONDITIONS ON, IN OR UNDER THE PROPERTY.

                                   ARTICLE 9.

                  CONDITIONS PRECEDENT TO PARTIES' PERFORMANCE

     9.1. Conditions to Buyer's Obligations.

          9.1.1. Buyer's obligations to close the purchase and sale of the
Property under this Contract are conditioned upon the following:

               (a) Title. The Title Company is prepared to issue to Buyer, upon
Closing, an Owner's Policy of Title Insurance in accordance with the Title
Commitment, subject only to the standard printed exceptions (with taxes limited
only to those not yet due or payable) contained in such form of policy and the
Permitted Exceptions, and including (at Buyer's expense) a T-19.1 endorsement.

               (b) Representations and Warranties. The representations and
warranties set out in Section 7.1 are true and correct in all material respects
on the Closing Date.

          9.1.2. (c) Property Information Disclosure. The factual information
Seller provided to Buyer in the Property Information Disclosure remains, to
Seller's knowledge, true and correct as of the Closing Date. Buyer shall have
the right to waive the satisfaction of any condition or to terminate the
Contract for failure of any such condition by Notice in writing to Seller. If
the Contract shall be terminated pursuant to this paragraph, Seller shall, as
Buyer's sole and exclusive remedy, refund the Earnest Money to Buyer, and the
parties shall have no further rights, duties, or obligations under this Contract
other than obligations of Buyer that expressly survive the closing or
termination of this Contract.

     9.2. Conditions to Seller's Obligations.

          9.2.1. Seller's obligations to close the purchase and sale of the
Property under this Contract are conditioned upon the following:

                                                                         Page 11

<PAGE>

               (a) Representations and Warranties. The representations and
warranties set out in Section 8.1 being true and correct in all material
respects on the Closing Date.

          9.2.2. Seller shall have the right to waive the satisfaction of any
condition or to terminate the Contract for failure of any such condition by
notice in writing to Buyer. If the Contract is terminated by Seller pursuant to
subparagraph 9.2.1(a), Seller's sole and exclusive remedy shall be to receive
the Earnest Money, and the parties shall have no further rights, duties, or
obligations under this Contract other than obligations that expressly survive
the closing or termination of this Contract. If the Contract is terminated by
Seller pursuant to subparagraph 9.2.1(b) of this Section 9.2, the Escrow Agent
shall disburse the Earnest Money to Buyer in accordance with this Contract, and
the parties shall have no further, rights, duties, or obligations under this
Contract other than the obligations that expressly survive the closing or
termination of this Contract.

                                   ARTICLE 10.

                                     CLOSING

     10.1. Date and Place of the Closing. The closing of the purchase and sale
contemplated by this Contract (the "CLOSING") shall take place within fifteen
(15) days after the expiration of the Feasibility Review Period (the "CLOSING
DEADLINE"), at a time mutually agreed to by Seller and Buyer in the offices of
the Escrow Agent or at such other location as the parties may mutually agree in
writing. The date on which the Closing occurs is referred to in this Contract as
the "CLOSING DATE." If Closing fails to occur on or before the Closing Deadline,
this Contract shall fail and terminate and thereafter the parties shall have no
further rights, duties, or obligations under this Contract other than provisions
that expressly survive the termination of this Contract. In such event, the
Escrow Agent shall distribute the Earnest Money as provided elsewhere in this
Contract.

     10.2. Items to be Delivered at Closing.

          10.2.1. By Seller. At or prior to the Closing, Seller shall deliver to
the Escrow Agent each of the following items:

               10.2.1.1. A special warranty deed in the form attached to this
Contract as Exhibit D (the "DEED"), duly executed and acknowledged by Seller and
in form for recording, conveying good and indefeasible title to the Property to
Buyer subject to the Permitted Exceptions and the Mineral Reservation. The Deed
shall be recorded upon Closing in the real property records of Denton County,
Texas.

               10.2.1.2. A bill of sale in the form attached to this Contract as
Exhibit E (the "BILL OF SALE"), duly executed by Seller.

               10.2.1.3. A non-foreign status certificate.

                                                                         Page 12

<PAGE>

               10.2.1.4. All additional documents and instruments as may
reasonably be requested by the Title Company or the Escrow Agent in order to
consummate the transaction contemplated by this Contract, including, without
limitation, a standard indemnity agreement concerning mechanics' liens, parties
in possession and other customary matters in the Title Company's Owner/Seller
Affidavit.

          10.2.2. By Buyer. At or prior to the Closing, Buyer shall deliver to
the Title Company, at Buyer's sole cost and expense, each of the following
items:

               10.2.2.1. The Purchase Price for the Property, in immediately
available funds.

               10.2.2.2. All additional documents and instruments as may
reasonably be requested by the Title Company or the Escrow Agent in order to
consummate the transaction contemplated by this Contract.

     10.3. Closing Costs. Through escrow at Closing, Seller shall pay (i) the
premium for the Owner's Policy of Title Insurance, (ii) the cost of recording
any title-clearing documents, and (iii) one-half of the Escrow Agent's escrow
fee (including tax). Through escrow at Closing, Buyer shall pay (i) the cost of
recording the Deed, (ii) one half of the Escrow Agent's escrow fee (including
tax), (iii) the cost of any lender's policy of title insurance, and (iv) the
cost of any extended coverage and/or endorsements to the Owner's Policy of Title
Insurance. Each party shall bear its own legal fees. Property taxes for the
current year, if any, shall be prorated as of Closing. Water and other utilities
shall be prorated as of Closing. All other costs of Closing, if any, shall be
borne by Seller and Buyer in a manner consistent with local practice for the
county in which the Property is located. Upon the request of either party,
adjustments shall be made between the parties after Closing for the actual
amount of any prorations made on the basis of estimates as of Closing.

     10.4. Possession and Closing. Full possession of the Property shall be
delivered to Buyer by Seller at the Closing. Upon Closing, Seller shall provide
keys to a representative of Buyer at the Property.

                                   ARTICLE 11.

                     INDEMNIFICATION, DEFAULTS AND REMEDIES

     11.1. Seller's Defaults: Buyer's Remedies. In the event Seller shall have
failed to have performed any of the covenants and/or agreements contained herein
which are to be performed by Seller, or if Seller fails to close the transaction
contemplated by this Contract in accordance with the terms hereof, Buyer may, at
its option, either (a) terminate this Contract by written Notice delivered to
Seller and the Escrow Agent on or before the Closing Deadline, and receive the
Earnest Money and recover all reasonable out of pocket third party costs
(including, without limitation, reasonable attorneys' fees) up to but not
exceeding Fifty Thousand and No/100 Dollars ($50,000) that were actually
incurred by Buyer in connection with the transaction contemplated by this
Contract ("BUYER'S DUE DILIGENCE AND CONTRACT COSTS"), it being agreed between
Buyer and Seller that such sum shall be liquidated damages

                                                                         Page 13

<PAGE>

for a default of Seller hereunder because of the difficulty, inconvenience, and
uncertainty of ascertaining actual damages for such default, or (b) bring suit
against Seller for specific performance of this Contract; provided however, if
the remedy of specific performance is not available due to Seller's default,
Buyer may seek any other right or remedy available at law or in equity to
recover its actual damages (but not incidental or consequential damages).
Notwithstanding the foregoing, Buyer shall be deemed to have elected to
terminate this Contract if Buyer fails to deliver Seller written Notice of its
intent to file a claim or assert a cause of action for specific performance
against Seller on or before one hundred twenty (120) days following the Closing
Deadline, or if, having given such Notice, Buyer fails to file a lawsuit
asserting said claim or cause of action within sixty (60) days following the
date of Buyer's Notice. The remedy elected by Buyer (or deemed to have been
elected) under this Section 11.1 shall be Buyer's sole and exclusive remedy
under this Contract. The foregoing shall not limit or impair Buyer's ability to
pursue other remedies expressly provided for elsewhere in this Contract,
including, without limitation, enforcement of Seller's indemnity obligations.

     11.2. Buyer's Waiver of Consumer Rights. Buyer waives its rights under the
Deceptive Trade Practices-Consumer Protection Act, Section 17.41 et seq.,
Business & Commerce Code, a law that gives consumers special rights and
protections. After consultation of an attorney of Buyer's own selection, Buyer
voluntarily consents to this waiver.

     11.3. Buyer's Default; Seller's Remedies. In the event Buyer shall have
failed to have performed any of the covenants and/or agreements contained herein
which are to be performed by Buyer, or if Buyer does not exercise a right of
termination set forth in this Contract and fails to close the transaction
contemplated by this Contract in accordance with the terms hereof, Seller may,
as its sole and exclusive remedy hereunder terminate the Contract by written
Notice delivered to Buyer and the Escrow Agent on or before the Closing
Deadline, and receive the Earnest Money as well as reimbursement from Buyer for
all reasonable out of pocket third party costs (including reasonable attorneys'
fees) up to but not exceeding Fifty Thousand and No/100 Dollars ($50,000) that
were actually incurred by Seller in connection with the transaction contemplated
by this Contract, it being agreed between Buyer and Seller that such sum shall
be liquidated damages for a default of Buyer hereunder because of the
difficulty, inconvenience, and uncertainty of ascertaining actual damages for
such default. The foregoing shall not limit or impair Seller's ability to pursue
other remedies expressly provided for elsewhere in this Contract, including,
without limitation, enforcement of Buyer's indemnity obligations.

     11.4. Survival. The provisions of this Article 11 shall survive the
termination of this Agreement.

                                   ARTICLE 12.

                            CASUALTY AND CONDEMNATION

     12.1. Prior to the Closing all risk of loss to the Property shall belong to
the Seller. Seller shall give Buyer prompt written notice of any casualty at the
Property or of Seller's

                                                                         Page 14

<PAGE>

receipt of any written notice of any pending or threatened condemnation of the
Property. If, prior to the Closing, there is a casualty causing substantial
damage to the Property or if any condemnation proceedings are commenced or
threatened in writing against any portion of the Property, then at Buyer's sole
option to be exercised no later than the later of (i) twenty (20) days following
receipt of such notice or (ii) on the last day of the Feasibility Review Period,
either (a) this Contract shall terminate (in which case the Earnest Money shall
be returned to Buyer), or (b) this Contract shall not terminate, but at Closing,
Seller shall assign to Buyer the casualty insurance proceeds or condemnation
award, if any, previously received by, or subsequently payable to, Seller with
respect to the Property and shall pay to Buyer the amount of Seller's insurance
deductible, but the Purchase Price shall not be reduced. Seller shall not settle
any such loss or condemnation without the reasonable consent of Buyer For
purposes of this Contract, "substantial damage" shall mean any casualty loss
equal to or greater than Fifty Thousand and No/100 Dollars ($50,000).

                                   ARTICLE 13.

                              BROKERAGE COMMISSIONS

     13.1. Commissions Payable. Seller has been represented in this transaction
by Binswanger ("Seller's Broker"), and has agreed to pay a real estate
commission to Seller's Broker in accordance with the terms of a separate
agreement. Buyer has been represented in this transaction by CB Richard Ellis
("BUYER'S BROKER"). Upon the Closing of the transaction contemplated by this
Contract, Seller shall pay a commission to Buyer's Broker in an amount equal to
one percent (1%) of the Purchase Price.

     13.2. Indemnity. Seller hereby represents and warrants to Buyer that it has
not contacted or entered into any agreement with any real estate broker, agent,
finder, or any other party other than Seller's Broker in connection with this
transaction, and that it has not taken any action which would result in any real
estate broker's, finder's, or other fees or commissions being due or payable to
any party other than Seller's Broker with respect to the transaction
contemplated hereby. Buyer hereby represents and warrants to Seller that Buyer
has not contacted or entered into any agreement with any real estate broker,
agent, finder, or any other party other than Buyer's Broker in connection with
this transaction, and that it has not taken any action which would result in any
real estate broker's, finder's, or other fees or commissions being due or
payable to any party other than Buyer's Broker with respect to the transaction
contemplated hereby. EACH PARTY HEREBY INDEMNIFIES AND AGREES TO HOLD THE OTHER
PARTY HARMLESS FROM ANY LOSS, LIABILITY, DAMAGE, COST OR EXPENSE (INCLUDING
REASONABLE ATTORNEYS' FEES) TIMELY ASSERTED RESULTING TO THE OTHER PARTY BY
REASON OF A BREACH OF THE REPRESENTATION AND WARRANTY MADE BY SUCH PARTY IN THIS
SECTION 13.2. Notwithstanding anything to the contrary contained herein, the
indemnities set forth in this Section 13.2 shall survive the Closing.

                                                                         Page 15

<PAGE>

                                   ARTICLE 14.

                                  MISCELLANEOUS

     14.1. References. All references to Article, Articles, Section, or Sections
contained herein are, unless specifically indicated otherwise, references to
Articles and Sections of this Contract.

     14.2. Exhibits. All references to Exhibits contained herein are references
to exhibits attached hereto, all of which are made a part hereof for all
purposes.

     14.3. Captions. The captions, headings, and arrangements used in this
Contract are for convenience only and do not in any way affect, limit, amplify,
or modify the terms and provisions hereof.

     14.4. Number and Gender of Words. Whenever herein the singular number is
used, the same shall include the plural where appropriate, and words of any
gender shall include each other gender where appropriate.

     14.5. Notices. Any notice, consent, approval, request, demand, or payment
required or permitted to be given or made between the parties to this Contract
(collectively called "NOTICES") must be in writing to be effective. Any Notice
that is addressed to the party for whom it is intended at its address specified
for the receipt of Notices (which is currently the address set forth below) will
be deemed to have been given or made on the second Business Day (defined in
Section 14.11) after the date it is deposited in the United States mail, postage
prepaid, certified, return receipt requested. Any party may change its address
for the receipt of Notices by Notice in accordance with this Section 14.5.
Notices given otherwise than in accordance with this Section 14.5, such as by
facsimile or by overnight delivery, will be effective upon receipt; provided,
that if delivery is via facsimile, and such facsimile is received after 5:00
p.m. local time at the location of such receipt, such facsimile shall be deemed
delivered on the day after such receipt. The current addresses of the parties
for Notices are as follows:

          IF TO BUYER:     Molecular Insight Pharmaceuticals, Inc.
                           160 Second Street
                           Cambridge, MA 02142
                           Attention: John McCray, Chief Operating Officer
                           Telephone: (617) 492-5554
                           Fax: (617) 492-5664

          WITH A COPY TO:  Foley & Lardner LLP
                           111 Huntington Avenue, 26th Floor
                           Boston, MA 02199
                           Attention: Andrew R. Stern
                           Telephone: (617) 342-4012
                           Fax: (617) 342-4001

                                                                         Page 16

<PAGE>

          IF TO SELLER:    NeoRx Manufacturing Group, Inc.
                           c/o Poniard Pharmaceuticals, Inc.
                           7000 Shoreline Court, Suite 270
                           S. San Francisco, CA 94080
                           Attention: Caroline M. Loewy, Chief Financial Officer
                           Telephone: (650) 583-5727
                           Fax: (650) 583-3789

          WITH A COPY TO:  Perkins Coie LLP
                           1201 Third Avenue, 40th Floor
                           Seattle, WA 98101
                           Attention: Ellen Conedera Dial
                           Telephone: (206) 359-8438
                           Fax: (206) 359-9438

     14.6. Governing Law. This Contract is being executed and delivered, and is
intended to be performed, in the State of Texas, and the laws of such State
shall govern the validity, construction, enforcement, and interpretation of this
Contract, unless otherwise specified herein.

     14.7. Multiple Counterparts. This Contract may be executed in any number of
identical counterparts. If so executed, each of such counterparts is to be
deemed an original for all purposes, and all such counterparts shall,
collectively, constitute one agreement, but, in making proof of this Contract,
it shall not be necessary to produce or account for more than one such
counterpart.

     14.8. Parties Bound. This Contract shall be binding upon, and inure to the
benefit of, Seller and Buyer, and their respective heirs, personal
representatives, successors, and assigns.

     14.9. Further Acts. In addition to the acts and deeds recited herein and
contemplated to be performed, executed, and/or delivered by Seller and Buyer,
Seller and Buyer agree to perform, execute, and/or deliver or cause to be
performed, executed, and/or delivered at the Closing or after the Closing any
and all such further acts, deeds, and assurances as may be necessary to
consummate the transactions contemplated hereby.

     14.10. Time of the Essence. It is expressly agreed by the parties hereto
that time is of the essence with respect to this Contract.

     14.11. Dates. Each date upon which an event is to occur or a period of time
is to expire in accordance with the terms of this Contract will automatically be
postponed and extended to the next Business Day if it falls on a Non-Business
Day, and any time periods that are defined terms in this Contract will be
automatically extended, and their definitions will include such extensions, in
accordance with this Section 14.11. A "BUSINESS DAY" is a day upon which
national banks in Seattle, Washington, are open for banking business, and a

                                                                         Page 17

<PAGE>

"NON-BUSINESS DAY" is a day upon which national banks in Seattle, Washington,
are not open for banking business.

     14.12. Attorneys' Fees. In the event it becomes necessary for either party
hereto to file suit to enforce this Contract or any provision contained herein,
the party prevailing in such suit shall be entitled to recover, in addition to
all other remedies or damages, reasonable attorneys' fees incurred in such suit.

     14.13. Entire Agreement, Amendment. This Contract, together with all
exhibits hereto and documents referred to herein, if any, constitutes the entire
arrangements and understandings among the parties hereto. This Contract may not
be amended, modified, changed or supplemented, nor may any obligations hereunder
be waived except by a writing signed by the party to be charged or by its agent
duly authorized in writing or as otherwise permitted herein.

     14.14. Severability. Whenever possible, each provision of this Contract and
every related document shall be interpreted in such manner as to be valid under
applicable law; but, if any provision of any of the foregoing shall be invalid
or prohibited under said applicable law, such provisions shall be ineffective to
the extent of such invalidity or prohibition without invalidating the remainder
of such provisions or the remaining provisions of this Contract.

     14.15. Waiver. No claim of waiver, consent, or acquiescence with respect to
any provision of this Contract shall be made against any party hereto except on
the basis of a written instrument executed by or on behalf of such party.
However, the party for whose unilateral benefit a condition is herein inserted
shall have the right to waive such condition.

     14.16. Assignment. Except for an assignment to an affiliate of Buyer
("BUYER'S AFFILIATE"), Buyer may not assign this Contract without the prior
written consent of the Seller, which may be given or withheld in Seller's sole
and absolute discretion. For purposes of this Contract, Buyer's Affiliate shall
be defined as any corporation, limited liability company or partnership in which
Buyer holds a 50% or greater ownership interest or which owns a 50% or greater
ownership interest in Buyer, in either case by direct or indirect means. Any
prohibited assignment shall be void.

     14.17. Disclaimer of Third Party Benefit. This Contract is not intended to
give or confer any benefits, rights, privileges, claims, actions or remedies to
any person or entity as a third party beneficiary, decree, or otherwise.

     14.18. Confidentiality. Each party agrees to keep in confidence all
information that is disclosed by the other party and that is marked or otherwise
identified (either orally or in writing) as confidential at or near the time of
discussions. The terms of this Contract are confidential and shall not be
disclosed to any other party prior to the recording of the Special Warranty Deed
other than to Buyer's lender, officers, directors, accountants, rating agencies,
advisors, consultants, brokers and attorneys as may be reasonably necessary in
furtherance of the transaction contemplated by this Contract. Neither party
shall make any press release or

                                                                         Page 18

<PAGE>

public announcement with respect to this Contract or the transactions that are
contemplated by it without the prior written consent of the other party, which
consent shall not be unreasonably withheld, delayed or conditioned.
Notwithstanding the terms of this Section 14.19 to the contrary, Buyer may make
such disclosures: (i) of information that is otherwise in the public domain
through no act of Buyer or (ii) that is required to be disclosed by court order
or any applicable governmental body, including, without limitation, the
Securities and Exchange Commission ("SEC") and (ii) through press releases and
public announcements as may be required by the rules and regulations of the SEC
and securities law. The terms of this Section 14.19 shall expressly survive the
Closing or earlier termination of this Contract.

     14.19. Unavoidable Delays. Whenever a period of time is specified in this
Contract for the performance of an action by Buyer or Seller (other than the
payment of money or delivery of legal documentation in connection with a
Closing, which shall not be subject to extension hereunder), the period of time
shall be extended due to acts of God, unavailability of essential materials,
inclement weather, acts of governmental authorities, and other causes reasonably
beyond the party's control (collectively "FORCE MAJEURE EVENTS").

     14.20. Counterparts. This Contract may be executed in a number of identical
counterparts. Each of the counterparts will be deemed an original for all
purposes and all counterparts will collectively constitute one Contract.

     14.21. List of Exhibits. The following is a list of exhibits for
convenience only:

     Exhibit "A" Personal Property
     Exhibit "B" Property Information Disclosure
     Exhibit "C" Amendment to License L05433
     Exhibit "D" Special Warranty Deed
     Exhibit "E" Bill of Sale

            [The remainder of this page is intentionally left blank.]

                                                                         Page 19

<PAGE>

     IN WITNESS WHEREOF, Buyer and Seller have executed this Contract as of the
Effective Date.

                                        BUYER:

Buyer's Tax Identification No.:

                                        MOLECULAR INSIGHT PHARMACEUTICALS, INC.
-------------------------------------   a Massachusetts corporation

                                        By: /s/ John E. McCray
                                            ------------------------------------
                                        Name:  John E. McCray
                                              ----------------------------------
                                        Title: Chief Operating Officer
                                               ---------------------------------

                                        SELLER:

Seller's Tax Identification No.:

-------------------------------------   NEORX MANUFACTURING GROUP, INC.,
                                        a Washington corporation

                                        By: /s/ Caroline Loewy
                                            ------------------------------------
                                        Name:  Caroline Loewy
                                              ----------------------------------
                                        Title: Chief Financial Officer
                                               ---------------------------------

     The undersigned acknowledges receipt of this Contract, fully executed by
Buyer and Seller with all additions and changes initialed, if any, by Buyer and
Seller. The Title Company further acknowledges and agrees to accept and be bound
by the role described for it in this Contract.

                                        STEWART TITLE GUARANTY
                                        COMPANY
                                                --------------------------------

                                        By: /s/ Kim Azure
                                            ------------------------------------
                                        Name: Kim Azure
                                              ----------------------------------
                                        Title: Commercial Escrow Officer
                                               ---------------------------------

                                                                         Page 20
<PAGE>

                                   EXHIBIT "A"

                                PERSONAL PROPERTY

                                 [See Attached.]

                                                                         Page 21
<PAGE>

<TABLE>
<CAPTION>
ITEM #                       DESCRIPTION                         QTY             MANUFACTURER              MODEL NUMBER
------   --------------------------------------------------   ---------   --------------------------   -------------------
<S>      <C>                                                  <C>         <C>                          <C>
         Fume Hood                                                1                Hamilton                 Vectaire
         Fume Hood - 3 ft                                         5                Kewaunee
     4   Biological Safety Cabinet - 6ft (missing filter)         1                 Nuaire                 NU-440-600
     5   Biological Safety Cabinet                                1                Baker Co.               Sterilguard
    12   Laboratory Refrigerator                                  2                 GE/VWR
    14   Incubators                                               1                   VWR                     1925
         Incubators                                               1                   VWR                     2020
    18   Heat Block VI                                            2                   VWR
         Heat Block IV                                            1                   VWR
         Heat Block II                                            2                   VWR
    28   Pipet-Aid                                                1           Drummond Scientific             2520
    37   Balance Printer                                          1             Mettler Toledo                LCP45
    40   pH meter 520A series                                     2                  Orion                    520A
    58   Large Chart Recorders for various instruments            9                Honeywell                 DR4200
    59   Chart Recorders                                          3              Dickson/Supco                THDX
    61   Heat Controller/Column Heater                            2                Eppendorf                  TC-55
    69   Gauge controller                                         1             MKS Intruments               Unknown
    70   Nitrogen Convection Gauge                                1           Granville-Phillips            275-092-1
    75   Auto Stirrer 205                                         1                   VWR                    948050
    85   Syringe Pump                                             1              Watson Marlow                505Di
    92   Dry Bath                                                 1               Thermolyne                 DB16525
    94   CRC-35R Dose Calibrator Remote Display                   1                Capintec                  CRC-35R
    97   Stir plate/Heater control board                          1          Barnstead Thermolyne           RSP46925
   103   Battery Back-up                                          1                 One AC                   CP1110
   105   Portable Softwall Frame                                  1        Simplex Strip Doors Inc.            n/a
   106   Laboratory Glassware Diswasher/Disinfector               1                  Miele                  G 7783 CD
   108   Mechanical Label Applicator                              1       Universal labeling systems         Unknown
   115   Sonic Sifter                                             1                   ATM                      L3P
   117   Premier Safelight                                        1         Doran Enterprises Inc.             n/a
   119   Filter apparatus - 6 funnel                              1         Pall Gelman Laboratory            15403
   120   Drager aerotest type "A"                                 1                 Drager                   4054001
   130   Laboratory Video Monitor                                 2                 Toshiba                 TUM-1003
   131   Video Monitor                                            1                Panasonic               WV-BM 1790
   132   B/W CCTV Monitor                                         2            SLC Technologies               MV-95
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
ITEM #                       DESCRIPTION                         QTY             MANUFACTURER              MODEL NUMBER
------   --------------------------------------------------   ---------   --------------------------   -------------------
<S>      <C>                                                  <C>         <C>                          <C>
   139   Intelligent RTD Temperature Probe                        1                  Kaye                     M2801
   140   Multi Stage Regulator                                    2             Hewlett Packard             5183-4644
   145   Detector                                                 1                Spectrom                  1421020
   146   Softwall System                                          1                 Unknown                  Unknown
   147   Softwall Air Filters                                  1 Palet            Envirco Co.                  STD
   148   Manometer Mark II                                      1 Box       Dwyer Instruments Inc.             25
   158   Pressure Regulator                                       1            Control Air Inc.                300
   159   Tank Holder - Compressed Gas                             1                   n/a                      n/a
   162   HPLC Autosampler                                         1                 Varian                 410 Prostar
   163   Pellet Press                                             1                 Carver                    4350
   168   Total Organic Carbon Analyzer                            1              OI Analytical                1010
   171   Vitek Bacterial Identification System                    1               BioMerieux                Vitek 32
   172   IV Pump                                                  1               Abbott labs          Micro macro plum XL
   181   Bag Sealer                                               1                Accu-seal                 30-512
   184   Filing, Stopper, and Capping Machine - incomplete        1           Cozzoli Machine Co.              n/a
   186   Formulation Lead Box                                     1        Absolute Control Systems            n/a
   187   Filling Lead Box                                         1        Absolute Control Systems            n/a
   190   Ryer Filler                                              1                  Reyer                     n/a
   191   Stir plate                                               1                Barnstead                RSP46925
   192   Viable Air Sampler - Vacuum controller                   1                 Veltek                  SMA-CC-3
   193   QC Lead box                                              1        Absolute Control Systems            n/a
   194   Misc Lead Glove Boxes                                    3        Absolute Control Systems            n/a
   195   UV Goggle Sterilizer                                     1          Kerkau Manufacturing             F-100
   198   Stability Chamber                                        1                 Lunaire                 CE0932-4
   213   0.5-1000(mu)L Pippettors                                20                Eppendorf                Reference
   214   Misc. Micro Pipetters                                  1 Box               Varied                   Varied
   220   Vial Holder - Circular Steel                             4                 Custom                     n/a
   223   Pipette Soakers                                          3                 Nalgene                    n/a
   224   Pipetter Washer/Rinsers                                  2                 Nalgene                    n/a
   226   Balance/Scale Table                                      2                   n/a                      n/a
   227   Compressed Gas Tank Holder                               2                   n/a                      n/a
   229   pH probe stands                                          4                   n/a                      n/a
   230   Video Monitor Station                                    1                   n/a                      n/a
   232   Glove Box Gloves                                         5                   n/a                      n/a
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
ITEM #                       DESCRIPTION                         QTY             MANUFACTURER              MODEL NUMBER
------   --------------------------------------------------   ---------   --------------------------   -------------------
<S>      <C>                                                  <C>         <C>                          <C>
   259   Laboratory Desk units                                    2                   n/a                      n/a
   260   Desk                                                    16                   n/a                      n/a
   261   Return for desk                                          1                   n/a                      n/a
   262   Hutch for desk                                           2                   n/a                      n/a
   263   Computer Stand                                           1                   n/a                      n/a
   264   Office Chair                                            26                   n/a                      n/a
   268   Metal Cabinets -assorted sizes                           2                   n/a                      n/a
   269   Flammable Liquid Storage Cabinets                        2          Various Manufacturers             n/a
   272   Filing Cabinets - 2 - 5 drawers                         30                   n/a                      n/a
   273   Filing Cabinet - 2 drawer fireproof                      1                   n/a                      n/a
   275   Shelving unit - Industrial Metal Variable shelving      45                   n/a                      n/a
   276   Shelving unit - 2 to 7 shelves, wood or metal           16                   n/a                      n/a
   277   Large Parts Shelf - many compartments                    2                   n/a                      n/a
   280   Table - Metal or wood                                   33                   n/a                      n/a
   281   Large conference table                                   2                   n/a                      n/a
   282   Folding Table                                            4                   n/a                      n/a
   284   Drafting Table                                           1                   n/a                      n/a
   288   Step Stool                                               4                   n/a                      n/a
   289   Mobile Stair unit                                        1                   n/a                      n/a
   290   Stainless Steel Bench                                    1                   n/a                      n/a
   291   Plastic Cart                                             5                   n/a                      n/a
   292   Stainless steel cart                                     1                   n/a                      n/a
   293   Large Steel Cart                                         2                   n/a                      n/a
   294   Metal Cart                                               7                   n/a                      n/a
   295   Flat bed pull cart                                       1                   n/a                      n/a
   300   Plastic Storage Carts, 3 to 4 drawers                    8               Tenex/Iris                   n/a
   304   Large single stand alone locker                          2                   n/a                      n/a
   305   Pole & chain barriers                                    2                   n/a                      n/a
   306   Land Sea Container                                       2                   n/a                      n/a
   307   Hazardous Material Container                             1                   n/a                      n/a
   316   Dishwasher                                               1                   GE                   Potscrubber
   320   Office Vacuums                                           1             Hoover/Pacific           Soft and Light
   325   Clock                                                    2                   n/a                      n/a
   326   Wall mirror - new in box                                 3                   n/a                      n/a
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
ITEM #                       DESCRIPTION                         QTY             MANUFACTURER              MODEL NUMBER
------   --------------------------------------------------   ---------   --------------------------   -------------------
<S>      <C>                                                  <C>         <C>                          <C>
   328   Mop bucket                                               2                   n/a                      n/a
   329   Mop Handles                                              1                   n/a                      n/a
   332   Trash cans                                              99                   n/a                      n/a
   333   Rolling Garbage container, two sizes                     2                   n/a                      n/a
   334   Glass Recycle bins                                       1                   n/a                      n/a
   338   Misc. power cords                                      1 Box                 n/a                      n/a
   339   Mail Weigher and Stamper                                 1              Pitney Bowes                 A570
   340   Scale                                                    1                Fairbanks                70-2453-4
   341   Computer
   342   Computer Monitor
   343   Fax Machine                                              1                Panasonic                 UF-895
   349   Refrigerator/Freezer                                     1                Hotpoint               CTX18G12KRWW
   350   Microwave                                                1                  sharp                   R-209Ak
   351   Coffee maker                                             1              Proctor silex                 n/a
   358   20mL Serum Tubing Vials                              3 pallets             Wheaton                    n/a
         Type 7A Rad Waste shipping containers                    2
</TABLE>
<PAGE>

                                   EXHIBIT "B"

                         PROPERTY INFORMATION DISCLOSURE

     NeoRx Manufacturing Group, Inc., a Washington corporation (formerly known
as NRX Acquisition Corporation, a Washington corporation) ("SELLER"), and
Molecular Insight Pharmaceuticals, Inc., a Massachusetts corporation ("BUYER"),
are the parties to that certain Contract of Purchase and Sale dated as of May
16, 2007 (the "CONTRACT"), pursuant to which Seller has agreed to sell to Buyer
and Buyer has agreed to purchase from Seller certain real property known as 3100
Jim Cristal Road located in the City of Denton, Denton County, Texas containing
ten and one half (10.5) acres, more or less, and more particularly described as
Lot 1R, in Block 1, Harley Addition, an addition to the City of Denton, Denton
County, Texas, according to the map or plat thereof recorded in Cabinet V, Slide
373, Plat Records of Denton County, Texas, together with certain personal
property located thereon and related thereto (the "PROPERTY"). All capitalized
terms used but not defined in this property information statement shall have the
meanings given to them in the Contract.

     As a part of Buyer's feasibility study of the Property, Buyer has requested
that Seller provide Buyer with the following information regarding the Property.
Seller hereby certifies to Buyer that the information contained below is, to
Seller's knowledge, true and correct:

     1. Seller has delivered to Buyer copies of all insurance policies relating
     to the Property, except as follows: _______________________________________
     __________________________________________________________________________.

     2. Seller has not received any written or oral notices or requests from any
     mortgagee, insurance company or Board of Fire underwriters, or any
     organization exercising functions similar thereto, requesting the
     performance of any work or alterations in respect to the Property which
     have not been performed, except as follows: _______________________________
     __________________________________________________________________________.

     3. There are no Property Agreements other than those provided to Buyer
     pursuant to Section 6.2 of the Contract, except as follows: _______________
     __________________________________________________________________________.

     4. Seller has not received any written notice of any breach of any
     governmental requirement or restrictive covenant which remains uncured, and
     is not under any order of any governmental authority, with respect to the
     Property or the Seller's present use and operation of the Property, except
     as follows: _______________________________________________________________
     __________________________________________________________________________.

                                                                         Page 22

<PAGE>

     5. Seller owns title to all of the Personal Property free and clear of any
     liens, encumbrances, and security interests, except as follows: ___________
     __________________________________________________________________________.

     6. Seller is not currently operating nor is it required to be operating the
     Property under any compliance order, decree or similar agreement; any
     consent decree, order or similar agreement; and/or any corrective action
     decree, order or similar agreement issued by or entered into with any
     governmental authority under any environmental law, except as follows: ____
     __________________________________________________________________________.

     7. There are no parties in possession of any portion of the Property as
     lessees or tenants, nor are there any boundary disputes, claims of adverse
     possession or the like, except as may be shown on the Title Commitment and
     as follows: ______________________________________________________________.

     8. There are no outstanding mechanic's and materialmen's liens or claims of
     creditors against the Property that have not been disclosed to Buyer,
     except as follows: ________________________________________________________
     __________________________________________________________________________.

     As used above, the phrase "to Seller's knowledge" (i) indicates only that
Seller is unaware of facts or circumstances which make the information provided
false or misleading in some material respect; the phrase is not intended to
suggest that Seller does indeed know all facts or circumstances necessary to
establish that the information at issue is true, and (ii) means and refers
exclusively to the knowledge of Caroline M. Loewy, Chief Financial Officer of
Seller.

                                        SELLER:

                                        NEORX MANUFACTURING GROUP, INC.,
                                        a Washington corporation

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------
                                        Date: May _____, 2007

            [The remainder of this page is intentionally left blank.]

                                                                         Page 23
<PAGE>

                                   EXHIBIT "C"

                           AMENDMENT TO LICENSE L05433

                                 [See Attached.]

                                                                         Page 24
<PAGE>

                                   EXHIBIT "D"

                              SPECIAL WARRANTY DEED

STATE OF TEXAS           )
                         )   KNOW ALL MEN BY THESE PRESENTS
COUNTY OF DENTON         )

     That the undersigned, NEORX MANUFACTURING GROUP, INC., a Washington
corporation, formerly known as NRX Acquisition Corporation, a Washington
corporation ("GRANTOR"), for and in consideration of the sum of Ten and No/100
Dollars ($10.00), cash in hand paid, and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged HAS GRANTED, SOLD
AND CONVEYED, and by these presents does GRANT, SELL AND CONVEY, unto MOLECULAR
INSIGHT PHARMACEUTICALS, INC., a Massachusetts corporation ("GRANTEE"), that
certain real property located in Denton County, Texas, and being more
particularly described on Exhibit A attached hereto and incorporated herein by
reference for all purposes (the "PROPERTY").

     This conveyance is expressly made and accepted subject to the Permitted
Exceptions listed on Exhibit B attached hereto and subject to the following
reservation of mineral rights:

     Grantor reserves unto itself, its successors and assigns any and all such
     rights, titles and interests as Grantor may possess in and to any and all
     oil, gases, minerals, metals and other valuable deposits (collectively, the
     "Reserved Minerals") located under the surface of the Property, of every
     name and nature whatsoever, regardless of whether the presence of same is
     currently known or unknown and regardless of the current or future
     commercial value of same, including, by way of example but not by way of
     limitation, natural gasses, hydrocarbons and related materials, methane,
     coal, iron, clay, gravel, sand, limestone, silica, fossils, precious
     metals, gemstones, ores and all other valuable bedded deposits.

     Grantor's rights in and to the Reserved Minerals shall not, however,
     include any right of access over and upon the area from the surface of the
     Property to a depth of one hundred fifty (150) feet ("Surface").
     Accordingly, in conducting operations of whatsoever nature with respect to
     the exploration for, exploitation of, mining, production, processing,
     transporting and/or marketing of the Reserved Minerals from the Property or
     in connection with the conduct of other activities associated with the
     ownership of the Reserved Minerals, Grantor and its successors and assigns
     shall be prohibited from using, entering upon, or occupying any operation
     on the Surface of the Property or placing any fixtures, equipment,
     buildings or structures thereon. Grantor's relinquishment of Surface rights
     to the Property shall not be

                                                                         Page 25

<PAGE>

     construed as impairing the right of Grantor and Grantor's successors and
     assigns to exploit, explore for, develop, mine, or produce any of the
     Reserved Minerals with wells, mines, shafts or excavations drilled or
     commenced on the surface of lands other than the Property, including, but
     not limited to, directional wells bottomed beneath or drilled through any
     part (other than the Surface) of the Property or by pooling its interest in
     the Reserved Minerals with lands adjoining the Property in accordance with
     the laws and regulations of the State of Texas.

     Ad valorem taxes for the current year having been prorated between the
parties hereto and collected and paid in connection with the closing as of the
effective date of this deed, Grantee assumes liability for the payment thereof
for the current and for subsequent years.

     TO HAVE AND TO HOLD the Property, subject as aforesaid, together with all
and singular the rights and appurtenances thereunto in any wise belonging and
any right, title and interest of the said Grantor in and to adjacent streets,
alleys, and rights-of-way, unto said Grantee, Grantee's successors and assigns,
forever, and the said Grantor does hereby bind Grantor, Grantor's successors and
assigns, to warrant and forever defend all and singular the said Property unto
the said Grantee, Grantee's successors and assigns, against every person
whomsoever lawfully claiming or to claim the same, or any part thereof, by,
through, or under Grantor, but not otherwise.

     EXECUTED effective as of the _____ day of ________________, 2007.

                                        NEORX MANUFACTURING GROUP, INC.,
                                        a Washington corporation

                                        By: SAMPLE
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------
Grantee's mailing address:

-------------------------------------

-------------------------------------

-------------------------------------

                                                                         Page 26

<PAGE>

STATE OF ________           )
                            )
COUNTY OF ________          )

     This instrument was acknowledged before me on the _____ day of
__________________, 2007, by _______________________________,
_____________________ of NeoRx Manufacturing Group, Inc., a Washington
corporation, on behalf of said corporation.

                                        SAMPLE
                                        ----------------------------------------
                                        Notary Public, State of ________

[Seal]
Printed Name of Notary and
Commission Expiration Date:

-------------------------------------

                                                                         Page 27

<PAGE>

                                    EXHIBIT A
                                       TO
                              SPECIAL WARRANTY DEED

                          LEGAL DESCRIPTION OF PROPERTY

LOT 1R, IN BLOCK 1, OF HARLEY ADDITION, AN ADDITION TO THE CITY OF DENTON,
DENTON COUNTY, TEXAS, ACCORDING TO THE MAP OR PLAT THEREOF RECORDED IN CABINET
V, SLIDE 373, PLAT RECORDS, DENTON COUNTY, TEXAS.

Assessor's Parcel No. R0261658.

            [The remainder of this page is intentionally left blank.]

                                                                         Page 28

<PAGE>

                                    EXHIBIT B
                                       TO
                              SPECIAL WARRANTY DEED

                              PERMITTED EXCEPTIONS

                                [TO BE INSERTED]

                                                                         Page 29
<PAGE>

                                   EXHIBIT "E"

                                  BILL OF SALE

STATE OF TEXAS

COUNTY OF DENTON

     KNOW ALL MEN BY THESE PRESENTS, that NEORX MANUFACTURING GROUP, INC., a
Washington corporation (the "Seller"), for and in consideration of the sum of
____________ Dollars ($____________) and other valuable consideration to it in
hand paid by MOLECULAR INSIGHT PHARMACEUTICALS, INC., a Massachusetts
corporation (the "Buyer"), the receipt and sufficiency of which are hereby
acknowledged, hereby sells, assigns, transfers and conveys unto said Buyer the
following personal property:

     (i)  Any and all of Seller's right, title and interest in and to the
          tangible personal property located upon the land described in Exhibit
          "A" attached hereto and hereby made a part hereof or within the
          improvements located thereon (together, the "LAND"), as the same are
          identified on Exhibit "B" attached hereto and hereby made a part
          hereof.

     (ii) Any and all of Seller's right, title and interest in and to the
          following intangible personal property related to the Land, to the
          extent the same is assignable: all warranties and guaranties relating
          to the Land and all permits, licenses, occupancy certificates and
          other governmental approvals related to the Land.

     Except as otherwise expressly provided in this Bill of Sale, this
conveyance is "AS IS, WHERE IS," without warranty, express or implied, of
merchantability or fitness for a particular purpose.

     TO HAVE AND TO HOLD all of said personal property unto Buyer, its
successors and assigns, to its own use forever.

     Seller will warrant and forever defend the right and title to the
herein-described property unto Buyer, and the successors, legal representatives
and assigns of Buyer, against the claims of all persons claiming, by, through or
under Seller, except as hereinabove set forth. Seller also represents and
warrants that it owns the personal property and that the personal property
conveyed herein is free and clear of all liens, except the lien of ad valorem
taxes, not yet due and payable.

            [The remainder of this page is intentionally left blank.]

                                                                         Page 30

<PAGE>

     IN WITNESS WHEREOF, Seller has executed this Bill of Sale as of the ____
day of __________________, 2007.

                                        NEORX MANUFACTURING GROUP, INC.,
                                        a Washington corporation

                                        By: SAMPLE
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                                                         Page 31

<PAGE>

                                    EXHIBIT A
                                       TO
                                  BILL OF SALE

                          LEGAL DESCRIPTION OF PROPERTY

LOT 1R, IN BLOCK 1, OF HARLEY ADDITION, AN ADDITION TO THE CITY OF DENTON,
DENTON COUNTY, TEXAS, ACCORDING TO THE MAP OR PLAT THEREOF RECORDED IN CABINET
V, SLIDE 373, PLAT RECORDS, DENTON COUNTY, TEXAS.

Assessor's Parcel No. R0261658.

            [The remainder of this page is intentionally left blank.]

                                                                         Page 32

<PAGE>

                                    EXHIBIT B
                                       TO
                                  BILL OF SALE

               DESCRIPTION OF TANGIBLE PERSONAL PROPERTY CONVEYED

                                 [See Attached.]

                                                                         Page 33Exhibit 10.10
	 

	 
		[Number of Shares]
	 

	 
		TOWERSTREAM CORPORATION
	 

	 
		Common Stock
	 

	 
		PLACEMENT AGENT
		AGREEMENT
	 

	 
		__________, 2007
	 

	 
		Lazard Capital Markets LLC
	 

	 
		Canaccord Adams Inc.
	 

	 
		Morgan Joseph & Co. Inc.
	 

	 
		c/o Lazard Capital Markets LLC
	 

	 
		30 Rockefeller Plaza
	 

	 
		New York, New York 10020
	 

	 
		Dear Sirs:
	 

	 
		1. INTRODUCTION.
		Towerstream Corporation, a Delaware corporation (the “Company”),
		proposes to issue and sell to the purchasers, pursuant to the terms of this
		Placement Agent Agreement (this “Agreement”)
		and the Subscription Agreements in the form of Exhibit A
		attached hereto (the “Subscription
		Agreements”) entered into with the
		purchasers identified therein (each a “Purchaser”
		and collectively, the “Purchasers”), up to an aggregate of [______] shares of common
		stock, $0.001 par value per share (the “Common Stock”) of the Company. The aggregate of [______] shares
		so proposed to be sold is hereinafter referred to as the “Stock.” The
		Company hereby confirms its agreement with Lazard Capital Markets LLC
		(“LCM”), Canaccord Adams Inc. (“Canaccord”)
		and Morgan Joseph & Co. Inc. (“Morgan Joseph,” and together with LCM and Canaccord, the
		“Placement Agents”) to act as Placement Agents in accordance with
		the terms and conditions hereof. LCM is acting as the representative of the
		Placement Agents, and in such capacity is hereinafter referred to as the
		“Representative.” 
	 

	 
		2. AGREEMENT TO
		ACT AS
		PLACEMENT AGENTS; PLACEMENT OF
		SECURITIES. On the basis of the representations, warranties and
		agreements of the Company herein contained, and subject to all the terms and
		conditions of this Agreement:
	 

	 
		2.1 The Company has authorized and hereby
		acknowledges that the Placement Agents have acted as its exclusive agents to
		solicit offers for the purchase of all or part of the Stock from the Company in
		connection with the proposed offering of the Stock (the “Offering”).
		Until the Closing Date (as defined in Section 4
		hereof), the Company shall not, without the prior written consent of the
		Representative, solicit or accept offers to purchase Stock otherwise than
		through the Placement Agents. LCM may utilize the expertise of Lazard
		Frères & Co. LLC in connection with LCM’s placement agent
		activities.
	 

	 
		2.2 The Company hereby acknowledges that the
		Placement Agents, as agents of the Company, used their commercially reasonable
		efforts to solicit offers to purchase the Stock from the Company on the terms
		and subject to the conditions set forth in the Prospectus (as defined below).
		The Placement Agents shall use commercially reasonable efforts to assist the
		Company in obtaining performance by each Purchaser whose offer to purchase
		Stock was solicited by the Placement Agents 
	 

	 
		 
	 

	 
		 
	 

	 
		 
	 

	 
		 
	 

	 
	 

	 

	 
		and accepted by the Company, but the
		Placement Agents shall not, except as otherwise provided in this Agreement, be
		obligated to disclose the identity of any potential purchaser or have any
		liability to the Company in the event any such purchase is not consummated for
		any reason. Under no circumstances will the Placement Agents be obligated to
		underwrite or purchase any Stock for their own accounts and, in soliciting
		purchases of Stock, the Placement Agents acted solely as the Company’s
		agents and not as principals. Notwithstanding the foregoing and except as
		otherwise provided in Section
		2.3, it is understood and agreed that
		the Placement Agents (or their affiliates) may, solely at their discretion and
		without any obligation to do so, purchase Stock as principals.
	 

	 
		2.3 Subject to the provisions of this
		Section 2, offers for the purchase of Stock were solicited by the
		Placement Agents as agents for the Company at such times and in such amounts as
		the Placement Agents deemed advisable. Each Placement Agent shall communicate
		to the Company, orally or in writing, each reasonable offer to purchase Stock
		received by it as agent of the Company. The Company shall have the sole right
		to accept offers to purchase the Stock and may reject any such offer, in whole
		or in part. Each Placement Agent shall have the right, in its discretion
		reasonably exercised, without notice to the Company, to reject any offer to
		purchase Stock received by it, in whole or in part, and any such rejection
		shall not be deemed a breach of this Agreement. 
	 

	 
		2.4 The Stock is being sold to the
		Purchasers at a price of $____ per share. The purchases of the Stock by the
		Purchasers shall be evidenced by the execution of Subscription Agreements by
		each of the Purchasers and the Company.
	 

	 
		2.5 As compensation for services rendered,
		on the Closing Date (as defined in Section 4
		hereof), the Company shall pay to the Placement Agents by wire transfer of
		immediately available funds to an account or accounts designated by the
		Representative, an aggregate amount equal to [____________] percent (___%) of
		the gross proceeds received by the Company from the sale of the Stock on such
		Closing Date.
	 

	 
		2.6 No Stock which the Company has agreed to
		sell pursuant to this Agreement and the Subscription Agreements shall be deemed
		to have been purchased and paid for, or sold by the Company, until such Stock
		shall have been delivered to the Purchaser thereof against payment by such
		Purchaser. If the Company shall default in its obligations to deliver Stock to
		a Purchaser whose offer it has accepted, the Company shall indemnify and hold
		the Placement Agents harmless against any loss, claim, damage or expense
		arising from or as a result of such default by the Company in accordance with
		the procedures set forth in Section 8(c) herein.
	 

	 
		3.
		REPRESENTATIONS
		AND WARRANTIES OF
		THE COMPANY. The
		Company represents and warrants to, and agrees with, the Placement Agents and
		the Purchasers that:
	 

	 
		(a) A registration statement of the Company
		on Form SB-2 (File No. 333-_____) (including all pre-effective amendments
		thereto and all post-effective amendments thereto filed before execution of
		this Agreement, the “Initial
		Registration Statement”) in
		respect of the Stock has been filed with the Securities and Exchange Commission
		(the “Commission”). The Initial Registration Statement and any
		post-effective amendment thereto, each in the form heretofore delivered to the
		Placement Agents, and, excluding exhibits thereto, have been declared effective
		by the Commission in such form and meet the requirements of the Securities Act
		of 1933, as amended (the “Securities Act”), and the rules and regulations of the Commission
		thereunder (the “Rules and
		Regulations”). The Company meets
		the requirements for use of Form SB-2 under the Securities Act and the Rules
		and Regulations. Other than (i) a registration statement, if any, increasing
		the size of the offering filed pursuant to Rule 462(b) under the Securities Act
		and the Rules and Regulations (a “Rule
		462(b) Registration Statement”)
		and (ii) the Prospectus (as defined below) contemplated by this Agreement to be
		filed pursuant to Rule 424(b) of the Rules and Regulations in accordance with
		Section 5(a) hereof and (iii) any Issuer Free Writing Prospectus (as
		defined below), no other document with respect to the offer and sale of the
		Stock has heretofore been filed with the Commission. No stop order suspending
		the effectiveness of the 
	 

	 
		 
	 

	 
		 
	 

	 
		2
	 

	 
		 
	 

	 
	 

	 

	 
		Initial Registration Statement, any
		post-effective amendment thereto or the Rule 462(b) Registration Statement, if
		any, has been issued and no proceeding for that purpose or pursuant to Section
		8A of the Securities Act has been initiated or threatened by the Commission
		(any preliminary prospectus included in the Initial Registration Statement or
		filed with the Commission pursuant to Rule 424(a) of the Rules and Regulations
		is hereinafter called a “Preliminary Prospectus”). The various parts of the Initial Registration
		Statement and the Rule 462(b) Registration Statement, if any, in each case
		including all exhibits thereto and including (i) the information contained in
		the Prospectus filed with the Commission pursuant to Rule 424(b) of the Rules
		and Regulations and deemed by virtue of Rule 430A under the Securities Act to
		be part of the Initial Registration Statement at the time it became effective
		and (ii) the documents incorporated by reference in the Rule 462(b)
		Registration Statement at the time the Rule 462(b) Registration Statement
		became effective, are hereinafter collectively called the “Registration Statements.” The final prospectus, in the form filed pursuant
		to and within the time limits described in Rule 424(b) under the Rules and
		Regulations, is hereinafter called the “Prospectus.” 
	 

	 
		(b) As of the Applicable Time (as defined
		below) and as of the Closing Date, neither (i) any General Use Free Writing
		Prospectus (as defined below) issued at or prior to the Applicable Time, and
		the Pricing Prospectus (as defined below) and the information included on
		Schedule A hereto, all considered together (collectively, the
		“General Disclosure
		Package”), (ii) any individual
		Limited Use Free Writing Prospectus (as defined below), nor (iii) the bona fide
		electronic road show (as defined in Rule 433(h)(5) of the Rules and Regulations
		that has been made available without restriction to any person, when considered
		together with the General Disclosure Package, included or will include, any
		untrue statement of a material fact or omitted or as of the Closing Date will
		omit, to state a material fact necessary in order to make the statements
		therein, in the light of the circumstances under which they were made, not
		misleading; provided,
		however, that the Company makes no
		representations or warranties as to information contained in or omitted from
		any Issuer Free Writing Prospectus, in reliance upon, and in conformity with,
		written information furnished to the Company through the Representative by or
		on behalf of any Placement Agent specifically for inclusion therein, which
		information the parties hereto agree is limited to the Placement Agents’
		Information (as defined in Section
		18). As used in this paragraph (b)
		and elsewhere in this Agreement:
	 

	 
		“Applicable Time” means 5:00 P.M., New York time, on the date of
		this Agreement.
	 

	 
		“Pricing Prospectus” means the Preliminary Prospectus, if any, and the
		Base Prospectus, each as amended and supplemented immediately prior to the
		Applicable Time, including any document incorporated by reference therein and
		any prospectus supplement deemed to be a part thereof.
	 

	 
		“Issuer Free Writing Prospectus” means any “issuer free writing
		prospectus,” as defined in Rule 433 under the Securities Act relating to
		the Stock in the form filed or required to be filed with the Commission or, if
		not required to be filed, in the form retained in the Company’s records
		pursuant to Rule 433(g) under the Securities Act. 
	 

	 
		“General Use Free Writing Prospectus” means any Issuer Free Writing Prospectus that is
		identified on Schedule A to this Agreement.
	 

	 
		“Limited Use Free Writing Prospectuses” means any Issuer Free Writing Prospectus that is
		not a General Use Free Writing Prospectus.
	 

	 
		(c) No order preventing or suspending the
		use of any Preliminary Prospectus, any Issuer Free Writing Prospectus or the
		Prospectus relating to the Offering has been issued by the Commission, and no
		proceeding for that purpose or pursuant to Section 8A of the Securities Act has
		been instituted or threatened by the Commission, and each Preliminary
		Prospectus, at the time 
	 

	 
		 
	 

	 
		 
	 

	 
		3
	 

	 
		 
	 

	 
	 

	 

	 
		of filing thereof, conformed in all material
		respects to the requirements of the Securities Act and the Rules and
		Regulations, and did not 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 the light of the circumstances under which they were
		made, not misleading; provided,
		however, that the Company makes no
		representations or warranties as to information contained in or omitted from
		any Preliminary Prospectus, in reliance upon, and in conformity with, written
		information furnished to the Company through the Representative by or on behalf
		of any Placement Agent specifically for inclusion therein, which information
		the parties hereto agree is limited to the Placement Agents’ Information
		(as defined in Section
		18). 
	 

	 
		(d) At the time
		the Registration Statements became or become effective, at the date of this
		Agreement and at the Closing Date, each Registration Statement conformed and
		will conform in all material respects to the requirements of the Securities Act
		and the Rules and Regulations and did not and 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 not misleading; the
		Prospectus and any amendments or supplements thereto, at the time the
		Prospectus or any amendment or supplement thereto was issued and at the Closing
		Date, conformed and will conform in all material respects to the requirements
		of the Securities Act and the Rules and Regulations and did not and will not
		contain an untrue statement of a material fact or omit to state a material fact
		necessary in order to make the statements therein, in light of the
		circumstances under which they were made, not misleading; provided,
		however, that the foregoing representations and warranties in
		this paragraph (d)
		shall not apply to information contained in or omitted from the Registration
		Statements or the Prospectus or any amendment or supplement thereto in reliance
		upon, and in conformity with, written information furnished to the Company
		through the Representative by or on behalf of any Placement Agent specifically
		for inclusion therein, which information the parties hereto agree is limited to
		the Placement Agents’ Information (as defined in Section 18).
		
	 

	 
		(e) Each Issuer Free Writing Prospectus, if
		any, as of its issue date and at all subsequent times through the completion of
		the public offer and sale of the Stock or until any earlier date that the
		Company notified or notifies the Representative as described in Section 5(e),
		did not, does not and will not include any information that conflicted,
		conflicts or will conflict with the information contained in the Registration
		Statements, Pricing Prospectus or the Prospectus that has not been superseded
		or modified, or includes an untrue statement of a material fact or omitted or
		would omit to state a material fact required to be stated therein or necessary
		in order to make the statements therein, in the light of the circumstances
		prevailing at the subsequent time, not misleading. The foregoing sentence does
		not apply to statements in or omissions from any Issuer Free Writing Prospectus
		in reliance upon, and in conformity with, written information furnished to the
		Company through the Representative by or on behalf of any Placement Agent
		specifically for inclusion therein, which information the parties hereto agree
		is limited to the Placement Agents’ Information (as defined in
		Section 18). 
	 

	 
		(f) At the time of filing the Initial
		Registration Statement, any 462(b) Registration Statement and any
		post-effective amendments thereto, and at the date hereof, the Company was not,
		and the Company currently is not, an “ineligible issuer,” as defined
		in Rule 405 of the Rules and Regulations.
	 

	 
		(g) The Company has not, directly or
		indirectly, distributed and will not distribute any offering material in
		connection with the Offering other than any Preliminary Prospectus, the
		Prospectus and other materials, if any, permitted under the Securities Act and
		consistent with Section
		5(b) below. The Company will file with
		the Commission all Issuer Free Writing Prospectuses (other than a “road
		show,” as defined in Rule 433(d)(8) of the Securities Act), if any, in the
		time and manner required under Rules 163(b)(2) and 433(d) under the Securities
		Act. 
	 

	 
		 
	 

	 
		 
	 

	 
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		(h) The Company and each Subsidiary (as
		defined below) has been duly organized and is validly existing as a corporation
		in good standing (or the foreign equivalent thereof) under the laws of its
		jurisdiction of organization. The Company and each Subsidiary is duly qualified
		to do business and is in good standing as a foreign corporation in each
		jurisdiction in which its ownership or lease of property or the conduct of its
		business requires such qualification and has all power and authority necessary
		to own or hold its properties and to conduct the business in which it is
		engaged, except where the failure to so qualify or have such power or authority
		(i) would not have, singularly or in the aggregate, a material adverse effect
		on the condition (financial or otherwise), results of operations, assets or
		business or prospects of the Company or any Subsidiary, taken as a whole, or
		(ii) impair in any material respect the ability of the Company to perform its
		obligations under this Agreement or to consummate any transactions contemplated
		by the Agreement, the General Disclosure Package or the Prospectus (any such
		effect as described in clauses (i) or (ii), a “Material Adverse Effect”). The Company owns or controls, directly or
		indirectly, only the following corporations, partnerships, limited liability
		partnerships, limited liability companies, associations or other entities:
		Towerstream I, Inc., a Delaware corporation (“Subsidiary”).
	 

	 
		(i) The Company has the full right, power
		and authority to enter into this Agreement, each of the Subscription Agreements
		and that certain Escrow Agreement (the “Escrow Agreement”) dated as of the date hereof by and among the
		Company, the Placement Agents and the escrow agent named therein, and to
		perform and to discharge its obligations hereunder and thereunder; and each of
		this Agreement, the Escrow Agreement and each of the Subscription Agreements
		have been duly authorized, executed and delivered by the Company, and
		constitutes a valid and binding obligation of the Company enforceable in
		accordance with its terms.
	 

	 
		(j) The Stock to be issued and sold by the
		Company to the Purchasers hereunder and under the Subscription Agreements has
		been duly and validly authorized and, when issued and delivered against payment
		therefor as provided herein and the Subscription Agreements, will be duly and
		validly issued, fully paid and non-assessable and free of any preemptive or
		similar rights and will conform to the description thereof contained in the
		General Disclosure Package and the Prospectus.
	 

	 
		(k) The Company has an authorized
		capitalization as set forth in the Pricing Prospectus, and all of the issued
		shares of capital stock of the Company have been duly and validly authorized
		and issued, are fully paid and non-assessable, have been issued in compliance
		with federal and state securities laws, and conform to the description thereof
		contained in the General Disclosure Package and the Prospectus. As of
		[________], there were [________] shares of Common Stock issued and outstanding
		and [________] shares of Preferred Stock, par value $[_____] of the Company
		issued and outstanding and [________] shares of Common Stock were issuable upon
		the exercise of all options, warrants and convertible securities outstanding as
		of such date. Since such date, the Company has not issued any securities, other
		than Common Stock of the Company issued pursuant to the exercise of stock
		options previously outstanding under the Company’s stock option plans or
		the issuance of restricted Common Stock pursuant to employee stock purchase
		plans. All of the Company’s options, warrants and other rights to purchase
		or exchange any securities for shares of the Company’s capital stock have
		been duly authorized and validly issued and were issued in compliance with
		federal and state securities laws. The Stock to be issued and sold by the
		Company under this Agreement and the Subscription Agreements has been duly
		authorized and, when issued, delivered and paid for in accordance with the
		terms of this Agreement and the Subscription Agreements, will have been validly
		issued and will be fully paid and nonassessable and will conform to the
		description thereof in the General Disclosure Package and the Prospectus and
		will be free of statutory and contractual preemptive rights, resale rights,
		rights of first refusal and similar rights. None of the outstanding shares of
		Common Stock 
	 

	 
		 
	 

	 
		 
	 

	 
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		was issued in violation of any preemptive
		rights, rights of first refusal or other similar rights to subscribe for or
		purchase securities of the Company. There are no authorized or outstanding
		shares of capital stock, options, warrants, preemptive rights, rights of first
		refusal or other rights to purchase, or equity or debt securities convertible
		into or exchangeable or exercisable for, any capital stock of the Company or
		any of its subsidiaries other than those described above or accurately
		described in the General Disclosure Package. The description of the
		Company’s stock option, stock bonus and other stock plans or arrangements,
		and the options or other rights granted thereunder, as described in the General
		Disclosure Package and the Prospectus, accurately and fairly present the
		information required to be shown with respect to such plans, arrangements,
		options and rights.
	 

	 
		(l) All the outstanding shares of capital
		stock of each Subsidiary have been duly authorized and validly issued, are
		fully paid and non-assessable and, except to the extent set forth in the
		General Disclosure Package or the Prospectus, are owned by the Company directly
		or indirectly through one or more wholly-owned subsidiaries, free and clear of
		any claim, lien, encumbrance, security interest, restriction upon voting or
		transfer or any other claim of any third party.
	 

	 
		(m) The execution, delivery and performance
		of this Agreement, the Subscription Agreements and the Escrow Agreement by the
		Company, the issue and sale of the Stock by the Company and the consummation of
		the transactions contemplated hereby and thereby will not (with or without
		notice or lapse of time or both) conflict with or result in a breach or
		violation of any of the terms or provisions of, constitute a default under,
		give rise to any right of termination or other right or the cancellation or
		acceleration of any right or obligation or loss of a benefit under, or give
		rise to the creation or imposition of any lien, encumbrance, security interest,
		claim or charge upon any property or assets of the Company or any Subsidiary
		pursuant to, any indenture, mortgage, deed of trust, loan agreement or other
		agreement or instrument to which the Company or any Subsidiary is a party or by
		which the Company or any Subsidiary is bound or to which any of the property or
		assets of the Company or any Subsidiary is subject, nor will such actions
		result in any violation of the provisions of the charter or by-laws (or
		analogous governing instruments, as applicable) of the Company or any
		Subsidiary or any law, statute, rule, regulation, judgment, order or decree of
		any court or governmental agency or body, domestic or foreign, having
		jurisdiction over the Company or any Subsidiary or any of their properties or
		assets.
	 

	 
		(n) Except for the registration of the Stock
		under the Securities Act and such consents, approvals, authorizations,
		registrations or qualifications as may be required under the Securities
		Exchange Act of 1934, as amended (the “Exchange Act”) and applicable state or foreign securities laws,
		the National Association of Securities Dealers, Inc. and the Nasdaq Capital
		Market (“[Nasdaq
		CM]”) in connection with the
		offering and sale of the Stock by the Company, no consent, approval,
		authorization or order of, or filing, qualification or registration with, any
		court or governmental agency or body, foreign or domestic, which has not been
		made, obtained or taken and is not in full force and effect, is required for
		the execution, delivery and performance of this Agreement, the Subscription
		Agreements and the Escrow Agreement by the Company, the offer or sale of the
		Stock or the consummation of the transactions contemplated hereby or thereby.
		
	 

	 
		(o) Marcum & Kliegman, LLP, who have
		certified certain financial statements and related schedules included in the
		Registration Statements, the General Disclosure Package and the Prospectus, and
		have audited the Company’s internal control over financial reporting and
		management’s assessment thereof, is an independent registered public
		accounting firm as required by the Securities Act and the Rules and Regulations
		and the Public Company Accounting Oversight Board (United States) (the
		“PCAOB”). Except as disclosed in the Registration
		Statements and as pre-approved in accordance with the requirements set forth in
		Section 10A of the Exchange Act, Marcum & Kliegman, LLP have not been
		engaged by the 
	 

	 
		 
	 

	 
		 
	 

	 
		6
	 

	 
		 
	 

	 
	 

	 

	 
		Company to perform any “ prohibited
		activities” (as defined in Section 10A of the Exchange Act).
	 

	 
		(p) The financial statements, together with
		the related notes and schedules, included in the General Disclosure Package,
		the Prospectus and in each Registration Statement fairly present the financial
		position and the results of operations and changes in financial position of the
		Company and its consolidated subsidiaries and other consolidated entities at
		the respective dates or for the respective periods therein specified. Such
		statements and related notes and schedules have been prepared in accordance
		with the generally accepted accounting principles in the United States
		(“GAAP”) applied on a consistent basis throughout the
		periods involved except as may be set forth in the related notes included in
		the General Disclosure Package. The financial statements, together with the
		related notes and schedules, included in the General Disclosure Package and the
		Prospectus comply in all material respects with the Securities Act, the
		Exchange Act, and the Rules and Regulations and the rules and regulations under
		the Exchange Act. No other financial statements or supporting schedules or
		exhibits are required by the Securities Act or the Rules and Regulations to be
		described, or included in the Registration Statements, the General Disclosure
		Package or the Prospectus. There is no pro forma or as adjusted financial
		information which is required to be included in the Registration Statements,
		the General Disclosure Package, or and the Prospectus in accordance with the
		Securities Act and the Rules and Regulations which has not been included as so
		required. The pro forma and pro forma as adjusted financial information and the
		related notes included in the Registration Statements, the General Disclosure
		Package and the Prospectus have been properly compiled and prepared in
		accordance with the applicable requirements of the Securities Act and the Rules
		and Regulations and present fairly the information shown therein, and the
		assumptions used in the preparation thereof are reasonable and the adjustments
		used therein are appropriate to give effect to the transactions and
		circumstances referred to therein.
	 

	 
		(q) Neither the Company nor any Subsidiary
		has sustained, since the date of the latest audited financial statements
		included in the General Disclosure Package, any material loss or interference
		with its business from fire, explosion, flood or other calamity, whether or not
		covered by insurance, or from any labor dispute or court or governmental
		action, order or decree, otherwise than as set forth or contemplated in the
		General Disclosure Package; and, since such date, there has not been any change
		in the capital stock or long-term debt of the Company or any Subsidiary, or any
		material adverse changes, or any development involving a prospective material
		adverse change, in or affecting the business, assets, general affairs,
		management, financial position, prospects, stockholders’ equity or results
		of operations of the Company or any Subsidiary otherwise than as set forth or
		contemplated in the General Disclosure Package. 
	 

	 
		(r) Except as set forth in the General
		Disclosure Package, there is no legal or governmental action, suit, claim or
		proceeding pending to which the Company or any Subsidiary is a party or of
		which any property or assets of the Company any Subsidiary is the subject which
		is required to be described in the Registration Statements, the General
		Disclosure Package or the Prospectus and is not described therein, or which,
		singularly or in the aggregate, if determined adversely to the Company or any
		Subsidiary, could have a Material Adverse Effect or prevent the consummation of
		the transactions contemplated hereby; and to the best of the Company’s
		knowledge, no such proceedings are threatened or contemplated by governmental
		authorities or threatened by others.
	 

	 
		(s) Neither the
		Company nor any Subsidiary is in (i) violation of its charter or by-laws (or
		analogous governing instrument, as applicable), (ii) default in any respect,
		and no event has occurred which, with notice or lapse of time or both, would
		constitute such a default, in the due performance or observance of any term,
		covenant or condition contained in any indenture, mortgage, deed of trust, loan
		agreement, lease or other agreement or instrument to which it is a party or by
		which it is bound or to which any of its property or assets is subject or (iii)
		violation 
	 

	 
		 
	 

	 
		 
	 

	 
		7
	 

	 
		 
	 

	 
	 

	 

	 
		in any respect of any law, ordinance,
		governmental rule, regulation or court order, decree or judgment to which it or
		its property or assets may be subject except, in the case of clauses (ii) and
		(iii) of this paragraph (s), for any violations or defaults which, singularly
		or in the aggregate, would not have a Material Adverse Effect.
	 

	 
		(t) The Company and each Subsidiary
		possesses all licenses, certificates, authorizations and permits issued by, and
		have made all declarations and filings with, the appropriate local, state,
		federal or foreign regulatory agencies or bodies which are necessary or
		desirable for the ownership of its properties or the conduct of its businesses
		as described in the General Disclosure Package and the Prospectus
		(collectively, the “Governmental
		Permits”) except where any
		failures to possess or make the same, singularly or in the aggregate, would not
		have a Material Adverse Effect. The Company and each Subsidiary is in
		compliance with all such Governmental Permits; all such Governmental Permits
		are valid and in full force and effect, except where the validity or failure to
		be in full force and effect would not, singularly or in the aggregate, have a
		Material Adverse Effect. All such Governmental Permits are free and clear of
		any restriction or condition that are in addition to, or materially different
		from those normally applicable to similar licenses, certificates,
		authorizations and permits. Neither the Company nor any Subsidiary has received
		notification of any revocation or modification (or proceedings related thereto)
		of any such Governmental Permit and the Company has no reason to believe that
		any such Governmental Permit will not be renewed. 
	 

	 
		(u) Neither the Company nor any Subsidiary
		is or, after giving effect to the offering of the Stock and the application of
		the proceeds thereof as described in the General Disclosure Package and the
		Prospectus, will become an “investment company” within the meaning of
		the Investment Company Act of 1940, as amended, and the rules and regulations
		of the Commission thereunder. 
	 

	 
		(v) Neither the Company, nor any Subsidiary
		nor, to the Company’s knowledge, any of the Company’s or any
		Subsidiary’s officers, directors or affiliates has taken or will take,
		directly or indirectly, any action designed or intended to stabilize or
		manipulate the price of any security of the Company, or which caused or
		resulted in, or which might in the future reasonably be expected to cause or
		result in, stabilization or manipulation of the price of any security of the
		Company.
	 

	 
		(w) The Company and each Subsidiary owns or
		possesses the right to use all patents, trademarks, trademark registrations,
		service marks, service mark registrations, trade names, copyrights, licenses,
		inventions, software, databases, know-how, Internet domain names, trade secrets
		and other unpatented and/or unpatentable proprietary or confidential
		information, systems or procedures, and other intellectual property
		(collectively, “Intellectual
		Property”) necessary to carry
		their respective businesses as currently conducted, and as proposed to be
		conducted and described in the General Disclosure Package and the Prospectus,
		and the Company is not aware of any claim to the contrary or any challenge by
		any other person to the rights of the Company or any Subsidiary with respect to
		the foregoing except for those that could not have a Material Adverse Effect.
		The Intellectual Property licenses described in the General Disclosure Package
		and the Prospectus are valid, binding upon, and enforceable by or against the
		parties thereto in accordance to its terms. The Company and each Subsidiary has
		complied in all material respects with, and is not in breach nor has received
		any asserted or threatened claim of breach of, any Intellectual Property
		license, and the Company has no knowledge of any breach or anticipated breach
		by any other person to any Intellectual Property license. The Company and each
		Subsidiary’s business as now conducted and as proposed to be conducted
		does not and will not infringe or conflict with any patents, trademarks,
		service marks, trade names, copyrights, trade secrets, licenses or other
		Intellectual Property or franchise right of any person. No claim has been made
		against the Company or any Subsidiary alleging the infringement by the Company
		or any Subsidiary of any patent, trademark, service mark, trade name,
		copyright, trade secret, license in 
	 

	 
		 
	 

	 
		 
	 

	 
		8
	 

	 
		 
	 

	 
	 

	 

	 
		or other intellectual property right or
		franchise right of any person. The Company and each Subsidiary has taken all
		reasonable steps to protect, maintain and safeguard its rights in all
		Intellectual Property, including the execution of appropriate nondisclosure and
		confidentiality agreements. The consummation of the transactions contemplated
		by this Agreement will not result in the loss or impairment of or payment of
		any additional amounts with respect to, nor require the consent of any other
		person in respect of, the Company or any Subsidiary’s right to own, use,
		or hold for use any of the Intellectual Property as owned, used or held for use
		in the conduct of the businesses as currently conducted. With respect to the
		use of the software in the Company or any Subsidiary’s business as it is
		currently conducted, the Company nor any Subsidiary has experienced any
		material defects in such software including any material error or omission in
		the processing of any transactions other than defects which have been
		corrected, and to the knowledge of the Company, no such software contains any
		device or feature designed to disrupt, disable, or otherwise impair the
		functioning of any software or is subject to the terms of any “open
		source” or other similar license that provides for the source code of the
		software to be publicly distributed or dedicated to the public. The Company and
		each Subsidiary has at all times complied with all applicable laws relating to
		privacy, data protection, and the collection and use of personal information
		collected, used, or held for use by the Company and any Subsidiary in the
		conduct of the Company and its Subsidiary’s business. No claims have been
		asserted or threatened against the Company or any Subsidiary alleging a
		violation of any person’s privacy or personal information or data rights
		and the consummation of the transactions contemplated hereby will not breach or
		otherwise cause any violation of any law related to privacy, data protection,
		or the collection and use of personal information collected, used, or held for
		use by the Company or any Subsidiary in the conduct of the Company’s or
		any Subsidiary’s business. The Company and each Subsidiary takes
		reasonable measures to ensure that such information is protected against
		unauthorized access, use, modification, or other misuse.
	 

	 
		(x) The Company and each Subsidiary has good
		and marketable title in fee simple to, or have valid rights to lease or
		otherwise use, all items of real or personal property which are material to the
		business of the Company and any Subsidiary in each case free and clear of all
		liens, encumbrances, security interests, claims and defects that do not,
		singularly or in the aggregate, materially affect the value of such property
		and do not interfere with the use made and proposed to be made of such property
		by the Company or any Subsidiary; and all of the leases and subleases material
		to the business of the Company and any Subsidiary, and under which the Company
		or any Subsidiary holds properties described in the General Disclosure Package
		and the Prospectus, are in full force and effect, and neither the Company nor
		any Subsidiary has received any notice of any material claim of any sort that
		has been asserted by anyone adverse to the rights of the Company or any
		Subsidiary under any of the leases or subleases mentioned above, or affecting
		or questioning the rights of the Company or such Subsidiary to the continued
		possession of the leased or subleased premises under any such lease or
		sublease.
	 

	 
		(y) No labor disturbance by the employees of
		the Company or any Subsidiary exists or, to the best of the Company’s
		knowledge, is imminent, and the Company is not aware of any existing or
		imminent labor disturbance by the employees of any of its or any
		Subsidiary’s principal suppliers, manufacturers, customers or contractors,
		that could reasonably be expected, singularly or in the aggregate, to have a
		Material Adverse Effect. The Company is not aware that any key employee or
		significant group of employees of the Company or any Subsidiary plans to
		terminate employment with the Company or any Subsidiary.
	 

	 
		(z) No “prohibited transaction”
		(as defined in Section 406 of the Employee Retirement Income Security Act of
		1974, as amended, including the regulations and published interpretations
		thereunder (“ERISA”), or Section 4975 of the Internal Revenue Code of
		1986, as amended from time to time (the “Code”)) or
		“accumulated funding deficiency” (as defined in Section 302 of ERISA)
		or any of the events set forth in Section 4043(b) of ERISA (other than 
	 

	 
		 
	 

	 
		 
	 

	 
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		events with respect to which the thirty
		(30)-day notice requirement under Section 4043 of ERISA has been waived) has
		occurred or could reasonably be expected to occur with respect to any employee
		benefit plan of the Company or any Subsidiary which could, singularly or in the
		aggregate, have a Material Adverse Effect. Each employee benefit plan of the
		Company or any Subsidiary is in compliance in all material respects with
		applicable law, including ERISA and the Code. The Company and each Subsidiary
		has not incurred and could not reasonably be expected to incur liability under
		Title IV of ERISA with respect to the termination of, or withdrawal from, any
		pension plan (as defined in ERISA). Each pension plan for which the Company and
		each Subsidiary would have any liability that is intended to be qualified under
		Section 401(a) of the Code is so qualified, and nothing has occurred, whether
		by action or by failure to act, which could, singularly or in the aggregate,
		cause the loss of such qualification. 
	 

	 
		(aa) The Company and each Subsidiary is in
		compliance with all foreign, federal, state and local rules, laws and
		regulations relating to the use, treatment, storage and disposal of hazardous
		or toxic substances or waste and protection of health and safety or the
		environment which are applicable to its businesses (“Environmental
		Laws”), except where the failure
		to comply would not, singularly or in the aggregate, have a Material Adverse
		Effect. There has been no storage, generation, transportation, handling,
		treatment, disposal, discharge, emission, or other release of any kind of toxic
		or other wastes or other hazardous substances by, due to, or caused by the
		Company or any Subsidiary (or, to the Company’s knowledge, any other
		entity for whose acts or omissions the Company or any Subsidiary is or may
		otherwise be liable) upon any of the property now or previously owned or leased
		by the Company or any Subsidiary, or upon any other property, in violation of
		any law, statute, ordinance, rule, regulation, order, judgment, decree or
		permit or which would, under any law, statute, ordinance, rule (including rule
		of common law), regulation, order, judgment, decree or permit, give rise to any
		liability, except for any violation or liability which would not have,
		singularly or in the aggregate with all such violations and liabilities, a
		Material Adverse Effect; and there has been no disposal, discharge, emission or
		other release of any kind onto such property or into the environment
		surrounding such property of any toxic or other wastes or other hazardous
		substances with respect to which the Company has knowledge, except for any such
		disposal, discharge, emission, or other release of any kind which would not
		have, singularly or in the aggregate with all such discharges and other
		releases, a Material Adverse Effect. 
	 

	 
		(bb) The Company
		and each Subsidiary (i) has timely filed all necessary federal, state, local
		and foreign tax returns, and all such returns were true, complete and correct,
		(ii) has paid all federal, state, local and foreign taxes, assessments,
		governmental or other charges due and payable for which it is liable,
		including, without limitation, all sales and use taxes and all taxes which the
		Company or any Subsidiary is obligated to withhold from amounts owing to
		employees, creditors and third parties, and (iii) does not have any tax
		deficiency or claims outstanding or assessed or, to the best of its knowledge,
		proposed against any of them, except those, in each of the cases described in
		clauses (i), (ii) and (iii) of this paragraph (bb),
		that would not, singularly or in the aggregate, have a Material Adverse Effect.
		The Company and each Subsidiary, has not engaged in any transaction which is a
		corporate tax shelter or which could be characterized as such by the Internal
		Revenue Service or any other taxing authority. The accruals and reserves on the
		books and records of the Company and each Subsidiary in respect of tax
		liabilities for any taxable period not yet finally determined are adequate to
		meet any assessments and related liabilities for any such period, and since
		December 31, 2006 the Company and each Subsidiary has not incurred any
		liability for taxes other than in the ordinary course. 
	 

	 
		(cc) The Company and each Subsidiary
		carries, or is covered by, insurance provided by recognized, financially sound
		and reputable institutions with policies in such amounts and covering such
		risks as is adequate for the conduct of its business and the value of its
		properties and as is customary for companies engaged in similar businesses in
		similar industries. The 
	 

	 
		 
	 

	 
		 
	 

	 
		10
	 

	 
		 
	 

	 
	 

	 

	 
		Company has no reason to believe that it or
		any Subsidiary will not be able (i) to renew its existing insurance coverage as
		and when such policies expire or (ii) to obtain comparable coverage from
		similar institutions as may be necessary or appropriate to conduct its business
		as now conducted and at a cost that would not result in a Material Adverse
		Effect. Neither the Company nor any Subsidiary has been denied any insurance
		coverage that it has sought or for which it has applied. 
	 

	 
		(dd) The Company and each Subsidiary
		maintains a system of internal accounting and other controls sufficient to
		provide reasonable assurances that (i) transactions are executed in accordance
		with management’s general or specific authorizations; (ii) transactions
		are recorded as necessary to permit preparation of financial statements in
		conformity with GAAP and to maintain accountability for assets; (iii) access to
		assets is permitted only in accordance with management’s general or
		specific authorization; and (iv) the recorded accountability for assets is
		compared with existing assets at reasonable intervals and appropriate action is
		taken with respect to any differences. Except as described in the General
		Disclosure Package, since the end of the Company’s most recent audited
		fiscal year, there has been (A) no material weakness in the Company’s
		internal control over financial reporting (whether or not remediated) and (B)
		no change in the Company’s internal control over financial reporting that
		has materially affected, or is reasonably likely to materially affect, the
		Company’s internal control over financial reporting. 
	 

	 
		(ee) The minute books of the Company and
		each Subsidiary have been made available to the Placement Agents and counsel
		for the Placement Agents, and such books (i) contain a complete summary of all
		meetings and actions of the board of directors (including each board committee)
		and shareholders of the Company and each Subsidiary (or analogous governing
		bodies and interest holders, as applicable) since the time of its respective
		incorporation or organization through the date of the latest meeting and
		action, and (ii) accurately in all material respects reflect all transactions
		referred to in such minutes. 
	 

	 
		(ff) There is no franchise, lease, contract,
		agreement or document required by the Securities Act or by the Rules and
		Regulations to be described in the General Disclosure Package and in the
		Prospectus or to be filed as an exhibit to the Registration Statements which is
		not described or filed therein as required; and all descriptions of any such
		franchises, leases, contracts, agreements or documents contained in the
		Registration Statements or in a document incorporated by reference therein are
		accurate and complete descriptions of such documents in all material respects.
		Other than as described in the General Disclosure Package, no such franchise,
		lease, contract or agreement has been suspended or terminated for convenience
		or default by the Company or any Subsidiary or any of the other parties
		thereto, and neither the Company nor any Subsidiary has received notice nor
		does the Company have any other knowledge of any such pending or threatened
		suspension or termination, except for such pending or threatened suspensions or
		terminations that would not reasonably be expected to, singularly or in the
		aggregate, have a Material Adverse Effect. 
	 

	 
		(gg) No relationship, direct or indirect,
		exists between or among the Company and any Subsidiary on the one hand, and the
		directors, officers, stockholders (or analogous interest holders), customers or
		suppliers of the Company or any Subsidiary or any of their affiliates on the
		other hand, which is required to be described in the General Disclosure Package
		and the Prospectus and which is not so described.
	 

	 
		(hh) No person or entity has the right to
		require registration of shares of Common Stock or other securities of the
		Company or any Subsidiary because of the filing or effectiveness of the
		Registration Statements or otherwise, except for persons and entities who have
		expressly waived such right in writing or who have been given timely and proper
		written notice and have failed to exercise such right within the time or times
		required under the terms and conditions of such right. Except as described in
		the General Disclosure Package, there are no persons with registration rights
		or similar rights to have any securities registered by the Company or any
		Subsidiary under the Securities Act.
	 

	 
		 
	 

	 
		 
	 

	 
		11
	 

	 
		 
	 

	 
	 

	 

	 
		(ii) Neither the Company nor any Subsidiary
		owns any “margin securities” as that term is defined in Regulation U
		of the Board of Governors of the Federal Reserve System (the
		“Federal Reserve
		Board”), and none of the proceeds
		of the sale of the Stock will be used, directly or indirectly, for the purpose
		of purchasing or carrying any margin security, for the purpose of reducing or
		retiring any indebtedness which was originally incurred to purchase or carry
		any margin security or for any other purpose which might cause any of the Stock
		to be considered a “purpose credit” within the meanings of Regulation
		T, U or X of the Federal Reserve Board. 
	 

	 
		(jj) Neither the Company nor any Subsidiary
		is a party to any contract, agreement or understanding with any person that
		would give rise to a valid claim against the Company or any Placement Agent for
		a brokerage commission, finder’s fee or like payment in connection with
		the offering and sale of the Stock or any transaction contemplated by this
		Agreement, the Registration Statements, the General Disclosure Package or the
		Prospectus.
	 

	 
		(kk) No forward-looking statement (within
		the meaning of Section 27A of the Securities Act and Section 21E of the
		Exchange Act) contained in either the General Disclosure Package or the
		Prospectus has been made or reaffirmed without a reasonable basis or has been
		disclosed other than in good faith.
	 

	 
		(ll) Neither the Company nor any Subsidiary
		does business with the government of Cuba or with any person or affiliate
		located in Cuba within the meaning of Florida Statutes Section 517.075.
	 

	 
		(mm) The Company is subject to and in
		compliance in all material respects with the reporting requirements of Section
		13 or Section 15(d) of the Exchange Act. The Common Stock is registered
		pursuant to Section 12(g) of the Exchange Act and is listed on the [Nasdaq CM],
		and the Company has taken no action designed to, or reasonably likely to have
		the effect of, terminating the registration of the Common Stock under the
		Exchange Act or delisting the Common Stock from the [Nasdaq CM], nor has the
		Company received any notification that the Commission or the National
		Association of Securities Dealers, Inc. (“NASD”) is
		contemplating terminating such registration or listing. No consent, approval,
		authorization or order of, or filing, notification or registration with, the
		[Nasdaq CM] is required for the listing and trading of the Stock on the [Nasdaq
		CM].
	 

	 
		(nn) The Company is in compliance with all
		applicable provisions of the Sarbanes-Oxley Act of 2002 and all rules and
		regulations promulgated thereunder or implementing the provisions thereof (the
		“Sarbanes-Oxley Act”) that are then in effect and is actively taking
		steps to ensure that it will be in compliance with other applicable provisions
		of the Sarbanes-Oxley Act not currently in effect upon it and at all times
		after the effectiveness of such provisions. 
	 

	 
		(oo) The Company is in compliance with all
		applicable corporate governance requirements set forth in the Nasdaq
		Marketplace Rules that are then in effect and is actively taking steps to
		ensure that it will be in compliance with other applicable corporate governance
		requirements set forth in the Nasdaq Marketplace Rules not currently in effect
		upon and all times after the effectiveness of such requirements.
	 

	 
		(pp) There are no transactions, arrangements
		or other relationships between and/or among the Company or any Subsidiary, any
		of their affiliates (as such term is defined in Rule 405 of the Securities Act)
		and any unconsolidated entity, including, but not limited to, any structure
		finance, special purpose or limited purpose entity that could reasonably be
		expected to materially affect the Company or any Subsidiary’s liquidity or
		the availability of or requirements for its 
	 

	 
		 
	 

	 
		 
	 

	 
		12
	 

	 
		 
	 

	 
	 

	 

	 
		capital resources required to be described
		in the General Disclosure Package and the Prospectus which have not been
		described as required.
	 

	 
		(qq) There are no outstanding loans,
		advances (except normal advances for business expenses in the ordinary course
		of business) or guarantees or indebtedness by the Company or any Subsidiary to
		or for the benefit of any of the officers or directors of the Company, any
		Subsidiary or any of their respective family members, except as disclosed in
		the Registration Statements, the General Disclosure Package and the Prospectus.
		All transactions by the Company with office holders or control persons of the
		Company have been duly approved by the board of directors of the Company, or
		duly appointed committees or officers thereof.
	 

	 
		(rr) The statistical and market related data
		included in the Registration Statements, the General Disclosure Package and the
		Prospectus are based on or derived from sources that the Company believes to be
		reliable and accurate, and such data agree with the sources from which they are
		derived.
	 

	 
		(ss) Neither the Company nor any Subsidiary
		nor any of their affiliates (within the meaning of NASD Conduct Rule
		2720(b)(1)(a)) directly or indirectly controls, is controlled by, or is under
		common control with, or is an associated person (within the meaning of Article
		I, Section 1(ee) of the By-laws of the NASD) of, any member firm of the
		NASD.
	 

	 
		(tt) No approval of the shareholders of the
		Company under the rules and regulations of Nasdaq (including Rule 4350 of the
		Nasdaq Marketplace Rules) is required for the Company to issue and deliver the
		Stock to the Purchasers.
	 

	 
		Any certificate signed by or on behalf of
		the Company and delivered to any Placement Agent or to counsel for the
		Placement Agents shall be deemed to be a representation and warranty by the
		Company to the Placement Agents and the Purchasers as to the matters covered
		thereby.
	 

	 
		4. THE CLOSING. The time
		and date of closing and delivery of the documents required to be delivered to
		the Placement Agents pursuant to Sections 5 and
		7 hereof shall be at 11:00 A.M., New York time, on
		[______], 2007 (the “Closing
		Date”) at the office of Haynes and
		Boone, LLP, 153 East 53rd Street, Suite 4900, New York, New York
		10022.
	 

	 
		5. FURTHER AGREEMENTS
		OF THE COMPANY. The Company agrees with
		the Placement Agents and the Purchasers: 
	 

	 
		(a) To prepare the Rule 462(b) Registration
		Statement, if necessary, in a form approved by the Representative and file such
		Rule 462(b) Registration Statement with the Commission on the date hereof; to
		prepare the Prospectus in a form approved by the Representative containing
		information previously omitted at the time of effectiveness of the Registration
		Statement in reliance on rule 430A and to file such Prospectus pursuant to Rule
		424(b) under the Securities Act not later than the second business
		(2nd) day following the execution and delivery of this Agreement or,
		if applicable, such earlier time as may be required by Rule 430A of the Rules
		and Regulations; to notify the Representative immediately of the Company’s
		intention to file or prepare any supplement or amendment to any Registration
		Statement or to the Prospectus and to make no amendment or supplement to such
		Registration Statement, the General Disclosure Package or to the Prospectus to
		which the Representative shall reasonably object by notice to the Company after
		a reasonable period to review; to advise the Representative, promptly after it
		receives notice thereof, of the time when any amendment to any Registration
		Statement has been filed or becomes effective or any supplement to the General
		Disclosure Package or the Prospectus or any amended Prospectus has been filed
		and to furnish the Representative copies thereof; to file promptly all material
		required to be filed by the Company with the Commission pursuant to Rule 433(d)
		or 163(b)(2), as the case may be; to advise the Representative, promptly after
		it receives notice thereof, of the issuance by the Commission of any stop order
		or of any order preventing or suspending the use of any 
	 

	 
		 
	 

	 
		 
	 

	 
		13
	 

	 
		 
	 

	 
	 

	 

	 
		Preliminary Prospectus, any Issuer Free
		Writing Prospectus or the Prospectus, of the suspension of the qualification of
		the Stock for offering or sale in any jurisdiction, of the initiation or
		threatening of any proceeding for any such purpose, or of any request by the
		Commission for the amending or supplementing of the Registration Statements,
		the General Disclosure Package or the Prospectus or for additional information;
		and, in the event of the issuance of any stop order or of any order preventing
		or suspending the use of any Preliminary Prospectus, any Issuer Free Writing
		Prospectus or the Prospectus or suspending any such qualification, and promptly
		to use its best efforts to obtain the withdrawal of such order.
	 

	 
		(b) The Company represents and agrees that,
		unless it obtains the prior consent of the Representative, and each Placement
		Agent represents and agrees that, unless it obtains the prior consent of the
		Representative and the Company, it has not made and will not, make any offer
		relating to the Stock that would constitute a “free writing
		prospectus” as defined in Rule 405 under the Securities Act unless the
		prior written consent of the Representative has been received (each, a
		“Permitted Free Writing
		Prospectus”);  provided that
		the prior written consent of the Representative hereto shall be deemed to have
		been given in respect of the Issuer Free Writing Prospectus[es] included in
		Schedule A hereto. The Company represents that it has treated and
		agrees that it will treat each Permitted Free Writing Prospectus as an Issuer
		Free Writing Prospectus, comply with the requirements of Rules 164 and 433
		under the Securities Act applicable to any Issuer Free Writing Prospectus,
		including the requirements relating to timely filing with the Commission,
		legending and record keeping and will not take any action that would result in
		any Placement Agent or the Company being required to file with the Commission
		pursuant to Rule 433(d) under the Securities Act a free writing prospectus
		prepared by or on behalf of such Placement Agent that such Placement Agent
		otherwise would not have been required to file thereunder. 
	 

	 
		(c) If at any time when a Prospectus
		relating to the Stock is required to be delivered under the Securities Act, any
		event occurs or condition exists as a result of which the Prospectus, as then
		amended or supplemented, would include any untrue statement of a material fact
		or omit to state a material fact necessary in order to make the statements
		therein, in light of the circumstances under which they were made, not
		misleading, or the Registration Statement, as then amended or supplemented,
		would include any untrue statement of a material fact or omit to state a
		material fact necessary to make the statements therein not misleading, or if
		for any other reason it is necessary at any time to amend or supplement any
		Registration Statement or the Prospectus to comply with the Securities Act or
		the Exchange Act, the Company will promptly notify the Representative, and upon
		the Representative’s request, the Company will promptly prepare and file
		with the Commission, at the Company’s expense, an amendment to the
		Registration Statement or an amendment or supplement to the Prospectus that
		corrects such statement or omission or effects such compliance and will deliver
		to the Placement Agents, without charge, such number of copies thereof as such
		Placement Agent may reasonably request. The Company consents to the use of the
		Prospectus or any amendment or supplement thereto by the Placement
		Agents.
	 

	 
		(d) If the General Disclosure Package is
		being used to solicit offers to buy the Stock at a time when the Prospectus is
		not yet available to prospective purchasers and any event shall occur as a
		result of which, in the judgment of the Company or in the reasonable opinion of
		the Representative, it becomes necessary to amend or supplement the General
		Disclosure Package in order to make the statements therein, in the light of the
		circumstances then prevailing, not misleading, or to make the statements
		therein not conflict with the information contained in the Registration
		Statement then on file and not superseded or modified, or if it is necessary at
		any time to amend or supplement the General Disclosure Package to comply with
		any law, the Company promptly will prepare, file with the Commission (if
		required) and furnish to the Placement Agents and any dealers an appropriate
		amendment or supplement to the General 
	 

	 
		 
	 

	 
		 
	 

	 
		14
	 

	 
		 
	 

	 
	 

	 

	 
		Disclosure Package so that the General
		Disclosure Package as so amended or supplemented will not, in the light of the
		circumstances then prevailing, be misleading or conflict with the Registration
		Statement then on file, or so that the General Disclosure Package will comply
		with law.
	 

	 
		(e) If at any time following issuance of an
		Issuer Free Writing Prospectus there occurred or occurs an event or development
		as a result of which such Issuer Free Writing Prospectus conflicted or will
		conflict with the information contained in the Registration Statement, Pricing
		Prospectus or Prospectus, and not superseded or modified or included or would
		include an untrue statement of a material fact or omitted or would omit to
		state a material fact required to be stated therein or necessary in order to
		make the statements therein, in the light of the circumstances prevailing at
		the subsequent time, not misleading, the Company has promptly notified or will
		promptly notify the Representative so that any use of the Issuer Free Writing
		Prospectus may cease until it is amended or supplemented and has promptly
		amended or will promptly amend or supplement, at its own expense, such Issuer
		Free Writing Prospectus to eliminate or correct such conflict, untrue statement
		or omission. The foregoing sentence does not apply to statements in or
		omissions from any Issuer Free Writing Prospectus in reliance upon, and in
		conformity with, written information furnished to the Company through the
		Representative by or on behalf of any Placement Agent specifically for
		inclusion therein, which information the parties hereto agree is limited to the
		Placement Agents’ Information (as defined in Section 18).
		
	 

	 
		(f) To furnish promptly to the
		Representative and to counsel for the Placement Agents a signed copy of each of
		the Registration Statements as originally filed with the Commission, and of
		each amendment thereto filed with the Commission, including all consents and
		exhibits filed therewith.
	 

	 
		(g) To deliver
		promptly to the Representative in New York City such number of the following
		documents as the Representative shall reasonably request: (i) conformed copies
		of the Registration Statement as originally filed with the Commission (in each
		case excluding exhibits), (ii) each Preliminary Prospectus, (iii) any Issuer
		Free Writing Prospectus, (iv) the Prospectus (the delivery of the documents
		referred to in clauses (i), (ii), (iii) and (iv) of this paragraph (g) to
		be made not later than 10:00 A.M., New York time, on the business day following
		the execution and delivery of this Agreement), (v) conformed copies of any
		amendment to the Registration Statement (excluding exhibits), and (vi) any
		amendment or supplement to the General Disclosure Package or the Prospectus
		(the delivery of the documents referred to in clauses (v) and (vi) of this
		paragraph (g) to be made not later than 10:00 A.M., New York City
		time, on the business day following the date of such amendment or supplement)
		(the delivery of the documents referred to in clause (vi) of this
		paragraph (g) to be made not later than 10:00 A.M., New York City
		time, on the business day following the date of such document).
	 

	 
		(h) To make generally available to its
		shareholders as soon as practicable, but in any event not later than eighteen
		(18) months after the effective date of each Registration Statement (as defined
		in Rule 158(c) under the Securities Act), an earnings statement of the Company
		and any Subsidiary (which need not be audited) complying with Section 11(a) of
		the Securities Act and the Rules and Regulations (including, at the option of
		the Company, Rule 158); and to furnish to its shareholders as soon as
		practicable after the end of each fiscal year an annual report (including a
		balance sheet and statements of income, shareholders’ equity and cash
		flows of the Company and its consolidated subsidiaries certified by independent
		public accountants) and as soon as possible after each of the first three
		fiscal quarters of each fiscal year (beginning with the first fiscal quarter
		after the effective date of such Registration Statement), consolidated summary
		financial information of the Company and its subsidiaries for such quarter in
		reasonable detail.
	 

	 
		(i) To take
		promptly from time to time such actions as the Representative may reasonably
		request to qualify the Stock for offering and sale under the securities or Blue
		Sky laws 
	 

	 
		 
	 

	 
		 
	 

	 
		15
	 

	 
		 
	 

	 
	 

	 

	 
		of such jurisdictions (domestic or foreign)
		as the Representative may designate and to continue such qualifications in
		effect, and to comply with such laws, for so long as required to permit the
		offer and sale of Stock in such jurisdictions; provided that
		the Company shall not be obligated to qualify as foreign corporations in any
		jurisdiction in which they are not so qualified or to file a general consent to
		service of process in any jurisdiction. 
	 

	 
		(j) Upon request, during the period of five
		(5) years from the date hereof, to deliver to the Placement Agents, (i) as soon
		as they are available, copies of all reports or other communications furnished
		to shareholders, and (ii) as soon as they are available, copies of any reports
		and financial statements furnished or filed with the Commission or any national
		securities exchange or automatic quotation system on which the Company’s
		securities is listed or quoted. 
	 

	 
		(k) That the Company will not,
		for a period of one hundred eighty (180) days from the date of the Prospectus,
		(the “Lock-Up
		Period”) without the prior written
		consent of the Representative, directly or indirectly offer, sell, assign,
		transfer, pledge, contract to sell, or otherwise dispose of, any shares of
		Common Stock or any securities convertible into or exercisable or exchangeable
		for Common Stock, other than the Company’s sale of the Stock hereunder and
		the issuance of restricted Common Stock or options to acquire Common Stock
		pursuant to the Company’s employee benefit plans, qualified stock option
		plans or other employee compensation plans as such plans are in existence on
		the date hereof and described in the Prospectus and the issuance of Common
		Stock pursuant to the valid exercises of options, warrants or rights
		outstanding on the date hereof. The Company will cause each executive officer,
		director, shareholder, optionholder and warrantholder listed in Schedule B to
		furnish to the Representative, prior to the Closing Date, a letter,
		substantially in the form of Exhibit
		B hereto, pursuant to which each such
		person shall agree, among other things, not to directly or indirectly offer,
		sell, assign, transfer, pledge, contract to sell, or otherwise dispose of, any
		shares of Common Stock or any securities convertible into or exercisable or
		exchangeable for Common Stock, not to engage in any swap or other agreement or
		arrangement that transfers, in whole or in part, directly or indirectly, the
		economic risk of ownership of Common Stock or any such securities and not to
		engage in any short selling of any Common Stock or any such securities, during
		the Lock-Up Period, without the prior written consent of the Representative.
		The Company also agrees that during such period, the Company will not file any
		registration statement, preliminary prospectus or prospectus, or any amendment
		or supplement thereto, under the Securities Act for any such transaction or
		which registers, or offers for sale, Common Stock or any securities convertible
		into or exercisable or exchangeable for Common Stock, except for a registration
		statement on Form S-8 relating to employee benefit plans. The Company hereby
		agrees that (i) if it issues an earnings release or material news, or if a
		material event relating to the Company occurs, during the last seventeen (17)
		days of the Lock-Up Period, or (ii) if prior to the expiration of the Lock-Up
		Period, the Company announces that it will release earnings results during the
		sixteen (16)-day period beginning on the last day of the Lock-Up Period, the
		restrictions imposed by this paragraph
		(k)  or the letter shall continue to
		apply until the expiration of the eighteen (18)-day period beginning on the
		issuance of the earnings release or the occurrence of the material news or
		material event.
	 

	 
		(l) To supply the Representative with copies
		of all correspondence to and from, and all documents issued to and by, the
		Commission in connection with the registration of the Stock under the
		Securities Act or the Registration Statements, any Preliminary Prospectus or
		the Prospectus, or any amendment or supplement thereto or document incorporated
		by reference therein.
	 

	 
		(m) Prior to the Closing Date, to furnish to
		the Placement Agents, as soon as they have been prepared, copies of any
		unaudited interim consolidated financial statements of the Company for any
		periods subsequent to the periods covered by the financial statements appearing
		in the Registration Statements and the Prospectus.
	 

	 
		 
	 

	 
		 
	 

	 
		16
	 

	 
		 
	 

	 
	 

	 

	 
		(n) Prior to the Closing Date, not to issue
		any press release or other communication directly or indirectly or hold any
		press conference with respect to the Company, its condition, financial or
		otherwise, or earnings, business affairs or business prospects (except for
		routine oral marketing communications in the ordinary course of business and
		consistent with the past practices of the Company and of which the
		Representative is notified), without the prior written consent of the
		Representative, unless in the judgment of the Company and its counsel, and
		after notification to the Representative, such press release or communication
		is required by law.
	 

	 
		(o) Until the Representative shall have
		notified the Company of the completion of the Offering, that the Company will
		not, and will cause its affiliated purchasers (as defined in Regulation M under
		the Exchange Act) not to, either alone or with one or more other persons, bid
		for or purchase, for any account in which it or any of its affiliated
		purchasers has a beneficial interest, any Stock, or attempt to induce any
		person to purchase any Stock; and not to, and to cause its affiliated
		purchasers not to, make bids or purchase for the purpose of creating actual, or
		apparent, active trading in or of raising the price of the Stock.
	 

	 
		(p) Not to take any action prior to the
		Closing Date which would require the Prospectus to be amended or supplemented
		pursuant to Section 5(a).
	 

	 
		(q) To at all times comply with all
		applicable provisions of the Sarbanes-Oxley Act in effect from time to time.
		
	 

	 
		(r) To apply the net proceeds from the sale
		of the Stock as set forth in the Registration Statement, the General Disclosure
		Package and the Prospectus under the heading “Use of
		Proceeds.”
	 

	 
		(s) To use its best efforts to list, subject
		to notice of issuance, the Stock on the [Nasdaq CM].
	 

	 
		(t) To use its best efforts to assist the
		Placement Agents with any filings with the NASD and obtaining clearance from
		the NASD as to the amount of compensation allowable or payable to the Placement
		Agents.
	 

	 
		(u) To use its best efforts to do and
		perform all things required to be done or performed under this Agreement by the
		Company prior to the Closing Date and to satisfy all conditions precedent to
		the delivery of the Stock.
	 

	 
		6. PAYMENT OF
		EXPENSES.
		The Company agrees to pay, or reimburse if paid by the Placement Agents,
		whether or not the transactions contemplated hereby are consummated or this
		Agreement is terminated: (a) the costs incident to the authorization, issuance,
		sale, preparation and delivery of the Stock to the Purchasers and any taxes
		payable in that connection; (b) the costs incident to the registration of the
		Stock under the Securities Act; (c) the costs incident to the preparation,
		printing and distribution of the Registration Statements, the Base Prospectus,
		any Preliminary Prospectus, any Issuer Free Writing Prospectus, the General
		Disclosure Package, the Prospectus, any amendments, supplements and exhibits
		thereto and the costs of printing, reproducing and distributing any transaction
		document by mail, telex or other means of communications; (d) the fees and
		expenses (including related fees and expenses of counsel for the Placement
		Agents) incurred in connection with securing any required review by the NASD of
		the terms of the sale of the Stock and any filings made with the NASD; (e) any
		applicable listing, quotation or other fees; (f) the fees and expenses
		(including related fees and expenses of counsel to the Placement Agent) of
		qualifying the Stock under the securities laws of the several jurisdictions as
		provided in Section 5(i) and of preparing, printing and distributing wrappers,
		Blue Sky Memoranda and Legal Investment Surveys; (g) the cost of preparing and
		printing stock certificates; (h) all fees and expenses of the registrar and
		transfer agent of the Stock; (i) the fees, disbursements and expenses of
		counsel to the Placement Agents and (j) all other costs and expenses incident
		to the offering of the Stock or the performance of the obligations of the
		Company under this Agreement (including, without limitation, the fees and
		expenses of the Company’s counsel and the Company’s independent
		accountants 
	 

	 
		 
	 

	 
		 
	 

	 
		17
	 

	 
		 
	 

	 
	 

	 

	 
		and the travel and other expenses incurred
		by Company personnel in connection with any “road show” including,
		without limitation, any expenses advanced by the Placement Agents on the
		Company’s behalf (which will be promptly reimbursed)). 
	 

	 
		7. CONDITIONS TO
		THE OBLIGATIONS OF
		THE PLACEMENT AGENTS
		AND THE
		PURCHASERS, AND THE SALE OF
		THE STOCK. The
		respective obligations of the Placement Agents hereunder and the Purchasers
		under the Subscription Agreements, and the Closing of the sale of the Stock,
		are subject to the accuracy, when made and on the Applicable Time and on the
		Closing Date, of the representations and warranties of the Company contained
		herein, to the accuracy of the statements of the Company made in any
		certificates pursuant to the provisions hereof, to the performance by the
		Company of its obligations hereunder, and to each of the following additional
		terms and conditions:
	 

	 
		(a) No stop order suspending the
		effectiveness of any Registration Statement or any part thereof, preventing or
		suspending the use of any Base Prospectus, any Preliminary Prospectus, the
		Prospectus or any Permitted Free Writing Prospectus or any part thereof shall
		have been issued and no proceedings for that purpose or pursuant to Section 8A
		under the Securities Act shall have been initiated or threatened by the
		Commission, and all requests for additional information on the part of the
		Commission (to be included or incorporated by reference in the Registration
		Statements or the Prospectus or otherwise) shall have been complied with to the
		reasonable satisfaction of the Representative; the Rule 462(b) Registration
		Statement, if any, each Issuer Free Writing Prospectus, if any, and the
		Prospectus shall have been filed with the Commission within the applicable time
		period prescribed for such filing by, and in compliance with, the Rules and
		Regulations and in accordance with Section 5(a),
		and the Rule 462(b) Registration Statement, if any, shall have become effective
		immediately upon its filing with the Commission; and the NASD shall have raised
		no objection to the fairness and reasonableness of the terms of this Agreement
		or the transactions contemplated hereby.
	 

	 
		(b) The Placement Agents shall not have
		discovered and disclosed to the Company on or prior to the Closing Date that
		any Registration Statement or any amendment or supplement thereto contains an
		untrue statement of a fact which, in the opinion of counsel for the Placement
		Agents, is material or omits to state any fact which, in the opinion of such
		counsel, is material and is required to be stated therein or is necessary to
		make the statements therein not misleading, or that the General Disclosure
		Package, any Issuer Free Writing Prospectus or the Prospectus or any amendment
		or supplement thereto contains an untrue statement of fact which, in the
		opinion of such counsel, is material or omits to state any fact which, in the
		opinion of such counsel, is material and is necessary in order to make the
		statements, in the light of the circumstances in which they were made, not
		misleading.
	 

	 
		(c) All corporate proceedings and other
		legal matters incident to the authorization, form and validity of each of this
		Agreement, the Subscription Agreements, the Escrow Agreement, the Stock, the
		Registration Statements, the General Disclosure Package, each Issuer Free
		Writing Prospectus, if any, and the Prospectus and all other legal matters
		relating to this Agreement and the transactions contemplated hereby shall be
		reasonably satisfactory in all material respects to counsel for the Placement
		Agents, and the Company shall have furnished to such counsel all documents and
		information that they may reasonably request to enable them to pass upon such
		matters.
	 

	 
		(d) Haynes and
		Boone, LLP shall have furnished to the Placement Agents such counsel’s
		written opinion, as counsel to the Company, addressed to the Placement Agents
		and the Purchasers and dated the Closing Date, in the form attached hereto as
		Exhibit C. 
	 

	 
		Such counsel shall also have furnished to
		the Representative a written statement, addressed to the Placement Agents and
		dated the Closing Date, in form and substance satisfactory to the
		Representative, to the effect that (x) such counsel has acted as counsel to the
		Company in connection with the preparation of the Registration Statements, the
		General Disclosure Package 
	 

	 
		 
	 

	 
		 
	 

	 
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		and the Prospectus, and each amendment or
		supplement thereto made by the Company prior to the Closing Date, (y) based on
		such counsel’s examination of the Registration Statements, the General
		Disclosure Package and the Prospectus, and each amendment or supplement thereto
		made by the Company prior to the Closing Date, and such counsel’s
		investigations made in connection with the preparation of the Registration
		Statements, the General Disclosure Package and the Prospectus, and each
		amendment or supplement thereto made by the Company prior to the Closing Date,
		and “conferences with certain officers and employees of and with auditors
		for and counsel to the Company,” such counsel has no reason to believe
		that the Registration Statements or any amendment thereto, as of their
		respective effective dates and at the Applicable Time as of the date of this
		Agreement, contained any untrue statement of a material fact or omitted to
		state any material fact required to be stated therein or necessary in order to
		make the statements therein not misleading, or that the Prospectus or any
		amendment or supplement thereto, at the respective date thereof or at the
		Closing Date, contained or contains any untrue statement of a material fact or
		omits to state any material fact necessary in order to make the statements
		therein, in the light of the circumstances under which they were made, not
		misleading, the documents included in the General Disclosure Package, all
		considered together, as of the Applicable Time, contained or contains any
		untrue statement of a material fact or omits to state any material fact
		necessary in order to make the statements therein, in the light of the
		circumstances under which they were made, not misleading, when they became
		effective or were filed with the Commission, as the case may be, contained, in
		the case of a registration statement which became effective under the
		Securities Act, any untrue statement of a material fact or omitted to state any
		material fact required to be stated therein or necessary in order to make the
		statements therein not misleading, or, in the case of other documents which
		were filed under the Exchange Act with the Commission, any untrue statement of
		a material fact or omitted to state any material fact necessary in order to
		make the statements therein, in light of the circumstances under which they
		were made, not misleading; it being understood that such counsel need express
		no opinion as to the financial statements or other financial data contained in
		the Registration Statements, the General Disclosure Package, or the Prospectus,
		or an incorporated document. The foregoing statement may be qualified by a
		statement to the effect that such counsel has not independently verified the
		accuracy, completeness or fairness of the statements contained in the
		Registration Statements, the General Disclosure Package or the Prospectus and
		takes no responsibility therefor except to the extent set forth in the opinion
		described above.
	 

	 
		(e) The Representative shall have received
		from Thelen Reid Brown Raysman & Steiner LLP, counsel for the Placement
		Agents, such opinion or opinions, dated the Closing Date, with respect to such
		matters as the Representative may reasonably require, and the Company shall
		have furnished to such counsel such documents as they request for enabling them
		to pass upon such matters.
	 

	 
		(f) At the time of
		the execution of this Agreement, the Placement Agents shall have received from
		Marcum & Kliegman LLP a letter, addressed to the Placement Agents, executed
		and dated such date, in form and substance satisfactory to the Representative
		(i) confirming that they are an independent registered accounting firm with
		respect to the Company and any Subsidiary within the meaning of the Securities
		Act and the Rules and Regulations and PCAOB and (ii) stating the conclusions
		and findings of such firm, of the type ordinarily included in accountants’
		“comfort letters” to underwriters, with respect to the financial
		statements and certain financial information contained or incorporated by
		reference in the Registration Statements, the General Disclosure Package and
		the Prospectus.
	 

	 
		(g) On the
		effective date of any post-effective amendment to any Registration Statement
		and on the Closing Date, the Representative shall have received a letter (the
		“Bring-Down Letter”) from Marcum & Kliegman, LLP addressed to the
		Placement Agents and dated the Closing Date confirming, as of the date of the
		Bring-Down Letter (or, with respect to matters 
	 

	 
		 
	 

	 
		 
	 

	 
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		involving changes or developments since the
		respective dates as of which specified financial information is given in the
		General Disclosure Package and the Prospectus, as the case may be, as of a date
		not more than three (3) business days prior to the date of the Bring-Down
		Letter), the conclusions and findings of such firm, of the type ordinarily
		included in accountants’ “comfort letters” to underwriters, with
		respect to the financial information and other matters covered by its letter
		delivered to the Placement Agents concurrently with the execution of this
		Agreement pursuant to paragraph (f) of this Section 7.
		
	 

	 
		(h) The Company
		shall have furnished to the Representative a certificate, dated the Closing
		Date, of its Chairman of the Board, its President or a Vice President and its
		chief financial officer stating that (i) such officers have carefully examined
		the Registration Statements, the General Disclosure Package, any Permitted Free
		Writing Prospectus and the Prospectus and, in their opinion, the Registration
		Statements and each amendment thereto, as of their respective effective dates
		and at the Applicable Time and as of the date of this Agreement and as of the
		Closing Date did not include any untrue statement of a material fact and did
		not omit to state a material fact required to be stated therein or necessary to
		make the statements therein not misleading, and the General Disclosure Package,
		as of the Applicable Time and as of the Closing Date, any Permitted Free
		Writing Prospectus as of its date and as of the Closing Date, the Prospectus
		and each amendment or supplement thereto, as of the respective date thereof and
		as of the Closing Date, did not include any untrue statement of a material fact
		and did not omit to state a material fact necessary in order to make the
		statements therein, in the light of the circumstances in which they were made,
		not misleading, (ii) since the effective date of the Initial Registration
		Statement, no event has occurred which should have been set forth in a
		supplement or amendment to the Registration Statements, the General Disclosure
		Package or the Prospectus, (iii) to the best of their knowledge after
		reasonable investigation, as of the Closing Date, the representations and
		warranties of the Company in this Agreement are true and correct and the
		Company has complied with all agreements and satisfied all conditions on its
		part to be performed or satisfied hereunder at or prior to the Closing Date,
		and (iv) there has not been, subsequent to the date of the most recent audited
		financial statements included or incorporated by reference in the General
		Disclosure Package, any material adverse change in the financial position or
		results of operations of the Company or any Subsidiary, or any change or
		development that, singularly or in the aggregate, would involve a material
		adverse change or a prospective material adverse change, in or affecting the
		condition (financial or otherwise), results of operations, business, assets or
		prospects of the Company or any Subsidiary, except as set forth in the
		Prospectus.
	 

	 
		(i) Since the date
		of the latest audited financial statements included in the General Disclosure
		Package, (i) neither the Company nor any Subsidiary shall have sustained any
		loss or interference with its business from fire, explosion, flood or other
		calamity, whether or not covered by insurance, or from any labor dispute or
		court or governmental action, order or decree, otherwise than as set forth in
		the General Disclosure Package, and (ii) there shall not have been any change
		in the capital stock or long-term debt of the Company nor any Subsidiary, or
		any change, or any development involving a prospective change, in or affecting
		the business, general affairs, management, financial position,
		stockholders’ equity or results of operations of the Company and any
		Subsidiary, otherwise than as set forth in the General Disclosure Package, the
		effect of which, in any such case described in clause (i) or (ii) of this
		paragraph (i), is, in the judgment of the Representative, so material
		and adverse as to make it impracticable or inadvisable to proceed with the sale
		or delivery of the Stock on the terms and in the manner contemplated in the
		General Disclosure Package.
	 

	 
		(j) No action shall have been taken and no
		law, statute, rule, regulation or order shall have been enacted, adopted or
		issued by any governmental agency or body which would prevent the issuance or
		sale of the Stock or materially and adversely affect or potentially materially
		and adversely affect the business or operations of the Company or any
		Subsidiary; and no injunction, 
	 

	 
		 
	 

	 
		 
	 

	 
		20
	 

	 
		 
	 

	 
	 

	 

	 
		restraining order or order of any other
		nature by any federal or state court of competent jurisdiction shall have been
		issued which would prevent the issuance or sale of the Stock or materially and
		adversely affect or potentially materially and adversely affect the business or
		operations of the Company or any Subsidiary. 
	 

	 
		(k) Subsequent to
		the execution and delivery of this Agreement there shall not have occurred any
		of the following: (i) trading in securities generally on the New York Stock
		Exchange, NASDAQ Global Market, [Nasdaq CM] or the American Stock Exchange or
		in the over-the-counter market, or trading in any securities of the Company on
		any exchange or in the over-the-counter market, shall have been suspended or
		materially limited, or minimum or maximum prices or maximum range for prices
		shall have been established on any such exchange or such market by the
		Commission, by such exchange or market or by any other regulatory body or
		governmental authority having jurisdiction, (ii) a banking moratorium shall
		have been declared by Federal or state authorities or a material disruption has
		occurred in commercial banking or securities settlement or clearance services
		in the United States, (iii) the United States shall have become engaged in
		hostilities, or the subject of an act of terrorism, or there shall have been an
		outbreak of or escalation in hostilities involving the United States, or there
		shall have been a declaration of a national emergency or war by the United
		States or (iv) there shall have occurred such a material adverse change in
		general economic, political or financial conditions (or the effect of
		international conditions on the financial markets in the United States shall be
		such) as to make it, in the judgment of the Representative, impracticable or
		inadvisable to proceed with the sale or delivery of the Stock on the terms and
		in the manner contemplated in the General Disclosure Package and the
		Prospectus.
	 

	 
		(l) The [Nasdaq CM] shall have approved the
		Stock for inclusion therein, subject only to official notice of
		issuance.
	 

	 
		(m) The Representative shall have received
		the written agreements, substantially in the form of Exhibit B
		hereto, of the executive officers, directors, shareholders, optionholders and
		warrantholders of the Company listed in Schedule B to
		this Agreement.
	 

	 
		(n) The Company shall have entered into
		Subscription Agreements with each of the Purchasers and such agreements shall
		be in full force and effect.
	 

	 
		(o) The Company shall have entered into the
		Escrow Agreement and such agreement shall be in full force and effect.
	 

	 
		(p) The Placement Agents shall have received
		clearance from the NASD as to the amount of compensation allowable or payable
		to the Placement Agents as described in the Pricing Prospectus.
	 

	 
		(q)  Prior to the Closing Date, the
		Company shall have furnished to the Placement Agents such further information,
		opinions, certificates (including a Secretary’s Certificate), letters or
		documents as the Placement Agent shall have reasonably requested.
	 

	 
		All opinions, letters, evidence and
		certificates mentioned above or elsewhere in this Agreement shall be deemed to
		be in compliance with the provisions hereof only if they are in form and
		substance reasonably satisfactory to counsel for the Placement Agents.
	 

	 
		8. INDEMNIFICATION AND CONTRIBUTION.
	 

	 
		(a) The Company shall
		indemnify and hold harmless each Placement Agent, its affiliates and each of
		its and their respective directors, officers, members, employees,
		representatives and agents (including, without limitation Lazard Frères
		& Co. LLC, (which will provide services to the Representative) and its
		affiliates, and each of its and their respective directors, officers, members,
		employees, representatives and agents and each person, if any, who controls
		Lazard Frères & Co. LLC within the meaning of Section 15 of the
		Securities Act or 
	 

	 
		 
	 

	 
		 
	 

	 
		21
	 

	 
		 
	 

	 
	 

	 

	 
		Section 20 of the Exchange Act) and
		each person, if any, who controls any Placement Agent within the meaning of
		Section 15 of the Securities Act of or Section 20 of the Exchange Act
		(collectively the “Placement Agent
		Indemnified Parties,” and each a
		“Placement Agent Indemnified
		Party”) against any loss, claim,
		damage, expense or liability whatsoever (or any action, investigation or
		proceeding in respect thereof), joint or several, to which such Placement Agent
		Indemnified Party may become subject, under the Securities Act or otherwise,
		insofar as such loss, claim, damage, expense, liability, action, investigation
		or proceeding arises out of or is based upon (A) any untrue statement or
		alleged untrue statement of a material fact contained in any Preliminary
		Prospectus, any Issuer Free Writing Prospectus, any “issuer
		information” filed or required to be filed pursuant to Rule 433(d) of the
		Rules and Regulations, any Registration Statement or the Prospectus, or in any
		amendment or supplement thereto, (B) the omission or alleged omission to state
		in any Preliminary Prospectus, any Issuer Free Writing Prospectus, any
		“issuer information” filed or required to be filed pursuant to Rule
		433(d) of the Rules and Regulations, any Registration Statement or the
		Prospectus, or in any amendment or supplement thereto or document incorporated
		by reference therein, a material fact required to be stated therein or
		necessary to make the statements therein not misleading or (C) any breach of
		the representations and warranties of the Company contained herein failure of
		the Company to perform its obligations hereunder or pursuant to any law, any
		act or failure to act, or any alleged act or failure to act, by the Placement
		Agents in connection with, or relating in any manner to, the Stock, the Escrow
		Agreement or the Offering, and which is included as part of or referred to in
		any loss, claim, damage, expense, liability, action, investigation or
		proceeding arising out of or based upon matters covered by subclause (A), (B)
		or (C) above of this Section
		8(a) (provided that
		the Company shall not be liable in the case of any matter covered by this
		subclause (C) to the extent that it is determined in a final judgment by a
		court of competent jurisdiction that such loss, claim, damage, expense or
		liability resulted directly from any such act or failure to act undertaken or
		omitted to be taken by such Placement Agent through its gross negligence or
		willful misconduct), and shall reimburse the Placement Agent Indemnified Party
		promptly upon demand for any legal fees or other expenses reasonably incurred
		by that Placement Agent Indemnified Party in connection with investigating, or
		preparing to defend, or defending against, or appearing as a third party
		witness in respect of, or otherwise incurred in connection with, any such loss,
		claim, damage, expense, liability, action, investigation or proceeding, as such
		fees and expenses are incurred; provided,
		however, that the Company shall not be liable in any such case
		to the extent that any such loss, claim, damage, expense or liability arises
		out of or is based upon an untrue statement or alleged untrue statement in, or
		omission or alleged omission from any Preliminary Prospectus, any Registration
		Statement or the Prospectus, or any such amendment or supplement thereto, or
		any Issuer Free Writing Prospectus made in reliance upon and in conformity with
		written information furnished to the Company through the Representative by or
		on behalf of any Placement Agent specifically for use therein, which
		information the parties hereto agree is limited to the Placement Agents’
		Information (as defined in Section
		18). This indemnity agreement is not
		exclusive and will be in addition to any liability, which the Company might
		otherwise have and shall not limit any rights or remedies which may otherwise
		be available at law or in equity to each Placement Agent Indemnified
		Party.
	 

	 
		(b) Each Placement
		Agent, severally and not jointly, shall indemnify and hold harmless the Company
		and its directors, its officers who signed the Registration Statement and each
		person, if any, who controls the Company within the meaning of Section 15 of
		the Securities Act or Section 20 of the Exchange Act (collectively the
		“Company Indemnified
		Parties” and each a
		“Company Indemnified
		Party”) against any loss, claim,
		damage, expense or liability whatsoever (or any action, investigation or
		proceeding in respect thereof), joint or several, to which such Company
		Indemnified Party may become subject, under the Securities Act or otherwise,
		insofar as such loss, claim, damage, expense, liability, action, investigation
		or proceeding arises out of or is based upon (i) any untrue statement or
		alleged untrue statement of a 
	 

	 
		 
	 

	 
		 
	 

	 
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		material fact contained in any Preliminary
		Prospectus, any Issuer Free Writing Prospectus, any “issuer
		information” filed or required to be filed pursuant to Rule 433(d) of the
		Rules and Regulations, any Registration Statement or the Prospectus, or in any
		amendment or supplement thereto, or (ii) the omission or alleged omission to
		state in any Preliminary Prospectus, any Issuer Free Writing Prospectus, any
		“issuer information” filed or required to be filed pursuant to Rule
		433(d) of the Rules and Regulations, any Registration Statement or the
		Prospectus, or in any amendment or supplement thereto, a material fact required
		to be stated therein or necessary to make the statements therein not
		misleading, but in each case only to the extent that the untrue statement or
		alleged untrue statement or omission or alleged omission was made in reliance
		upon and in conformity with written information furnished to the Company
		through the Representative by or on behalf of any Placement Agent specifically
		for use therein, which information the parties hereto agree is limited to the
		Placement Agents’ Information as defined in Section 18, and
		shall reimburse the Company for any legal or other expenses reasonably incurred
		by such party in connection with investigating or preparing to defend or
		defending against or appearing as third party witness in connection with any
		such loss, claim, damage, liability, action, investigation or proceeding, as
		such fees and expenses are incurred. Notwithstanding the provisions of this
		Section 8(b), in no event shall any indemnity by a Placement Agent under this
		Section 8(b) exceed the total compensation received by such Placement Agent in
		accordance with Section 2.5. 
	 

	 
		(c) Promptly after receipt by an indemnified party under
		this Section 8 of notice of the commencement of any action, the
		indemnified party shall, if a claim in respect thereof is to be made against an
		indemnifying party under this Section
		8, notify such indemnifying party in
		writing of the commencement of that action; provided, however, that the failure to notify the indemnifying party shall
		not relieve it from any liability which it may have under this Section 8 except
		to the extent it has been materially prejudiced by such failure; and,
		provided, further, that the failure to notify an indemnifying party shall
		not relieve it from any liability which it may have to an indemnified party
		otherwise than under this Section
		8. If any
		such action shall be brought against an indemnified party, and it shall notify
		the indemnifying party thereof, the indemnifying party shall be entitled to
		participate therein and, to the extent that it wishes, jointly with any other
		similarly notified indemnifying party, to assume the defense of such action
		with counsel reasonably satisfactory to the indemnified party (which counsel
		shall not, except with the written consent of the indemnified party, be counsel
		to the indemnifying party). After notice from the indemnifying party to the
		indemnified party of its election to assume the defense of such action, except
		as provided herein, the indemnifying party shall not be liable to the
		indemnified party under Section
		8 for any legal or other expenses
		subsequently incurred by the indemnified party in connection with the defense
		of such action other than reasonable costs of investigation; provided, however, that any indemnified party shall have the right to
		employ separate counsel in any such action and to participate in the defense of
		such action but the fees and expenses of such counsel (other than reasonable
		costs of investigation) shall be at the expense of such indemnified party
		unless (i) the employment thereof has been specifically authorized in writing
		by the Company in the case of a claim for indemnification under Section 8(a) or
		Section 2.6 or the Representative in the case of a claim for
		indemnification under Section
		8(b), (ii) such indemnified party shall
		have been advised by its counsel that there may be one or more legal defenses
		available to it which are different from or additional to those available to
		the indemnifying party, or (iii) the indemnifying party has failed to assume
		the defense of such action and employ counsel reasonably satisfactory to the
		indemnified party within a reasonable period of time after notice of the
		commencement of the action or the indemnifying party does not diligently defend
		the action after assumption of the defense, 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 of (or, in the case of a
		failure to diligently defend the action after assumption of the defense, to
		continue to defend) such action on behalf of such indemnified party and the
		indemnifying party shall be responsible for legal or other 
	 

	 
		 
	 

	 
		 
	 

	 
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		expenses subsequently incurred by such
		indemnified party in connection with the defense of such action;
		provided, however, that
		the indemnifying party shall not, in connection with any one such action or
		separate but substantially similar or related actions in the same jurisdiction
		arising out of the same general allegations or circumstances, be liable for the
		reasonable fees and expenses of more than one separate firm of attorneys at any
		time for all such indemnified parties (in addition to any local counsel), which
		firm shall be designated in writing by the Representative if the indemnified
		parties under this Section
		8 consist of any Placement Agent
		Indemnified Party or by the Company if the indemnified parties under this
		Section 8 consist of any Company Indemnified Parties.
		Subject to this Section 8(c),
		the amount payable by an indemnifying party under Section 8 shall
		include, but not be limited to, (x) reasonable legal fees and expenses of
		counsel to the indemnified party and any other expenses in investigating, or
		preparing to defend or defending against, or appearing as a third party witness
		in respect of, or otherwise incurred in connection with, any action,
		investigation, proceeding or claim, and (y) all amounts paid in settlement of
		any of the foregoing. No indemnifying party shall, without the prior written
		consent of the indemnified parties, settle or compromise or consent to the
		entry of judgment with respect to any pending or threatened action or any claim
		whatsoever, in respect of which indemnification or contribution could be sought
		under this Section 8 (whether or not the indemnified parties are actual or
		potential parties thereto), unless such settlement, compromise or consent (i)
		includes an unconditional release of each indemnified party in form and
		substance reasonably satisfactory to such indemnified party from all liability
		arising out of such action or claim and (ii) does not include a statement as to
		or an admission of fault, culpability or a failure to act by or on behalf of
		any indemnified party. Subject to the provisions of the following sentence, no
		indemnifying party shall be liable for settlement of any pending or threatened
		action or any claim whatsoever that is effected without its written consent
		(which consent shall not be unreasonably withheld or delayed), but if settled
		with its written consent, if its consent has been unreasonably withheld or
		delayed or if there be a judgment for the plaintiff in any such matter, the
		indemnifying party agrees to indemnify and hold harmless any indemnified party
		from and against any loss or liability by reason of such settlement or
		judgment. In addition, if at any time an indemnified party shall have requested
		that an indemnifying party reimburse the indemnified party for fees and
		expenses of counsel, such indemnifying party agrees that it shall be liable for
		any settlement of the nature contemplated herein effected without its written
		consent if (i) such settlement is entered into more than forty-five (45) days
		after receipt by such indemnifying party of the request for reimbursement, (ii)
		such indemnifying party shall have received notice of the terms of such
		settlement at least thirty (30) days prior to such settlement being entered
		into and (iii) such indemnifying party shall not have reimbursed such
		indemnified party in accordance with such request prior to the date of such
		settlement. 
	 

	 
		(d) If the indemnification provided for in
		this Section 8 is unavailable or insufficient to hold harmless an
		indemnified party under Section
		8(a) or Section 8(b),
		then each indemnifying party shall, in lieu of indemnifying such indemnified
		party, contribute to the amount paid, payable or otherwise incurred by such
		indemnified party as a result of such loss, claim, damage, expense or liability
		(or any action, investigation or proceeding in respect thereof), as incurred,
		(i) in such proportion as shall be appropriate to reflect the relative benefits
		received by the Company on the one hand and the Placement Agents on the other
		hand from the offering of the Stock, or (ii) if the allocation provided by
		clause (i) of this Section
		8(d) is not permitted by applicable
		law, in such proportion as is appropriate to reflect not only the relative
		benefits referred to in clause (i) of this Section 8(d) but
		also the relative fault of the Company on the one hand and the Placement Agents
		on the other with respect to the statements, omissions, acts or failures to act
		which resulted in such loss, claim, damage, expense or liability (or any
		action, investigation or proceeding 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 Agents on the other with respect to
		such offering shall be deemed to be in the same proportion as the total net
		proceeds 
	 

	 
		 
	 

	 
		 
	 

	 
		24
	 

	 
		 
	 

	 
	 

	 

	 
		from the offering of the Stock purchased
		under this Agreement (before deducting expenses) received by the Company bear
		to the total discounts and commissions received by the Placement Agents in
		connection with the Offering, in each case as set forth in the table on the
		cover page of the Prospectus. The relative fault of the Company on the one hand
		and the Placement Agents on the other shall be determined by reference to,
		among other things, whether the untrue or alleged untrue statement of a
		material fact or the omission or alleged omission to state a material fact
		relates to information supplied by the Company on the one hand or the Placement
		Agents on the other, the intent of the parties and their relative knowledge,
		access to information and opportunity to correct or prevent such untrue
		statement, omission, act or failure to act; provided that
		the parties hereto agree that the written information furnished to the Company
		through the Representative by or on behalf of any Placement Agent for use in
		any Preliminary Prospectus, any Registration Statement or the Prospectus, or in
		any amendment or supplement thereto, consists solely of the Placement
		Agents’ Information as defined in Section 18. The
		Company and the Placement Agents agree that it would not be just and equitable
		if contributions pursuant to this Section 8(d)
		were to be determined by pro rata allocation or by any other method of
		allocation that does not take into account the equitable considerations
		referred to herein. The amount paid or payable by an indemnified party as a
		result of the loss, claim, damage, expense, liability, action, investigation or
		proceeding referred to above in this Section 8(d)
		shall be deemed to include, for purposes of this Section 8(d),
		any legal or other expenses reasonably incurred by such indemnified party in
		connection with investigating, preparing to defend or defending against or
		appearing as a third party witness in respect of, or otherwise incurred in
		connection with, any such loss, claim, damage, expense, liability, action,
		investigation or proceeding. Notwithstanding the provisions of this
		Section 8(d), no Placement Agent shall be required to contribute any
		amount in excess of the total compensation received by such Placement Agent in
		accordance with Section
		2.5 less the amount of any damages
		which such Placement Agent has otherwise paid or become liable to pay by reason
		of any untrue or alleged untrue statement, omission or alleged omission, act or
		alleged act or failure to act or alleged failure to act. No person guilty of
		fraudulent misrepresentation (within the meaning of Section 11(f) of the
		Securities Act) shall be entitled to contribution from any person who was not
		guilty of such fraudulent misrepresentation. The Placement Agents’
		obligations to contribute as provided in this Section 8(d) are
		several and in proportion to their respective placement obligations and not
		joint.
	 

	 
		9. TERMINATION. The
		obligations of the Placement Agents and the Purchasers hereunder and under the
		Subscription Agreements may be terminated by the Representative, in its
		absolute discretion by notice given to the Company prior to delivery of and
		payment for the Stock if, prior to that time, any of the events described in
		Sections 7(i), 7(j) or 7(k) have
		occurred or if the Purchasers shall decline to purchase the Stock for any
		reason permitted under this Agreement or the Subscription Agreements. 
	 

	 
		10. REIMBURSEMENT OF
		PLACEMENT AGENTS’ EXPENSES.
		Notwithstanding anything to the contrary in this Agreement, if (a) this
		Agreement shall have been terminated pursuant to Section 9, (b)
		the Company shall fail to tender the Stock for delivery to the Purchasers for
		any reason not permitted under this Agreement, (c) the Purchasers shall decline
		to purchase the Stock for any reason permitted under this Agreement or (d) the
		sale of the Stock is not consummated because any condition to the obligations
		of the Purchasers or the Placement Agents set forth herein is not satisfied or
		because of the refusal, inability or failure on the part of the Company to
		perform any agreement herein or to satisfy any condition or to comply with the
		provisions hereof, then in addition to the payment of amounts in accordance
		with Section 6, the Company shall reimburse the Placement Agent for
		the fees and expenses of the Placement Agents’ counsel and for such other
		out-of-pocket expenses as shall have been reasonably incurred by them in
		connection with this Agreement and the proposed purchase of the Stock, and upon
		demand the Company shall pay the full amount thereof to the Placement
		Agents.
	 

	 
		 
	 

	 
		 
	 

	 
		25
	 

	 
		 
	 

	 
	 

	 

	 
		11. AUTHORITY OF
		THE REPRESENTATIVE. Canaccord and Morgan Joseph each consent and agree that
		LCM will act as Representative of the Placement Agents under this Agreement and
		with respect to the sale of the Stock. Accordingly, each of Canaccord and
		Morgan Joseph authorizes LCM to manage the Offering and the sale of the Stock
		and to take such actions in connection therewith as LCM in its sole discretion
		deems appropriate or desirable, consistent with the provisions of each
		Agreement Among Underwriters previously entered into between LCM and Canaccord
		and Morgan Joseph, and LCM and Canaccord and Morgan Joseph, respectively,
		taking into account that the Offering of the Stock will be in the form of a
		best efforts placement and not a firm commitment underwriting. Each of
		Canaccord and Morgan Joseph agrees to comply with such Agreement Among
		Underwriters and that any action taken under this Agreement by the
		Representative shall be binding upon all of the Placement Agents.
	 

	 
		12.
		ABSENCE
		OF FIDUCIARY RELATIONSHIP. The
		Company acknowledges and agrees that: 
	 

	 
		(a) the Placement Agents’
		responsibility to the Company is solely contractual in nature, the Placement
		Agents have been retained solely to act as placement agents in connection with
		the Offering and no fiduciary, advisory or agency relationship between the
		Company and the Placement Agents has been created in respect of any of the
		transactions contemplated by this Agreement, irrespective of whether the
		Placement Agents or Lazard Frères & Co. LLC has advised or is
		advising the Company on other matters; 
	 

	 
		(b) the price of the Stock set forth in this
		Agreement was established by the Company following discussions and arms-length
		negotiations with the Placement Agents, and the Company is capable of
		evaluating and understanding, and understands and accepts, the terms, risks and
		conditions of the transactions contemplated by this Agreement; 
	 

	 
		(c) it has been advised that the Placement
		Agents and Lazard Frères & Co. LLC and their affiliates are engaged
		in a broad range of transactions which may involve interests that differ from
		those of the Company and that the Placement Agents have no obligation to
		disclose such interests and transactions to the Company by virtue of any
		fiduciary, advisory or agency relationship; and 
	 

	 
		(d) it waives, to the fullest extent
		permitted by law, any claims it may have against the Placement Agents for
		breach of fiduciary duty or alleged breach of fiduciary duty and agrees that
		the Placement Agents shall have no liability (whether direct or indirect) to
		the Company in respect of such a fiduciary duty claim or to any person
		asserting a fiduciary duty claim on behalf of or in right of the Company,
		including stockholders, employees or creditors of the Company.
	 

	 
		13. SUCCESSORS; PERSONS ENTITLED
		TO BENEFIT OF
		AGREEMENT.
		This Agreement shall inure to the benefit of and be binding upon the Placement
		Agents, the Company, and their respective successors and assigns. This
		Agreement shall also inure to the benefit of Lazard Frères & Co.
		LLC, the Purchasers, and each of their respective successors and assigns, which
		shall be third party beneficiaries hereof. Nothing expressed or mentioned in
		this Agreement is intended or shall be construed to give any person, other than
		the persons mentioned in the preceding sentences, any legal or equitable right,
		remedy or claim under or in respect of this Agreement, or any provisions herein
		contained, this Agreement and all conditions and provisions hereof being
		intended to be and being for the sole and exclusive benefit of such persons and
		for the benefit of no other person; except that the representations,
		warranties, covenants, agreements and indemnities of the Company contained in
		this Agreement shall also be for the benefit of the Placement Agent Indemnified
		Parties and the indemnities of the several Placement Agents shall be for the
		benefit of the Company Indemnified Parties. It is understood that the Placement
		Agents’ responsibility to the Company is solely contractual in nature and
		the Placement Agents do not owe the Company, or any other party, any fiduciary
		duty as a result of this Agreement. 
	 

	 
		14. SURVIVAL OF
		INDEMNITIES, REPRESENTATIONS, WARRANTIES, ETC. The respective indemnities, covenants, agreements,
		representations, warranties and other statements of the Company and the
		Placement Agents, as set forth in this Agreement or made by them respectively,
		pursuant to this 
	 

	 
		 
	 

	 
		 
	 

	 
		26
	 

	 
		 
	 

	 
	 

	 

	 
		Agreement, shall remain in full force and
		effect, regardless of any investigation made by or on behalf of the Placement
		Agents, the Company, the Purchasers or any person controlling any of them and
		shall survive delivery of and payment for the Stock. Notwithstanding any
		termination of this Agreement, including without limitation any termination
		pursuant to Sections 9 or 10, the
		indemnity and contribution agreements contained in Section 8 and
		the covenants, representations, warranties set forth in this Agreement shall
		not terminate and shall remain in full force and effect at all times.
	 

	 
		15. NOTICES. All
		statements, requests, notices and agreements hereunder shall be in writing,
		and:
	 

	 
		(a) if to the Placement Agents, shall be
		delivered or sent by mail, telex, facsimile transmission or overnight courier
		to Lazard Capital Markets LLC, Attention: General Counsel, Fax: 212-830-3615;
		and
	 

	 
		(b) if to the Company, shall be delivered or
		sent by mail, telex, facsimile transmission or overnight courier to Towerstream
		Corporation, Attention: [_________], Fax: [_______].
	 

	 
		provided, however, that any notice to a Placement Agent pursuant to
		Section 8 shall be delivered or sent by mail, telex or facsimile
		transmission to such Placement Agent at its address set forth in its acceptance
		telex to the Placement Agents, which address will be supplied to any other
		party hereto by the Representative upon request. Any such statements, requests,
		notices or agreements shall take effect at the time of receipt thereof, except
		that any such statement, request, notice or agreement delivered or sent by
		email shall take effect at the time of confirmation of receipt thereof by the
		recipient thereof.
	 

	 
		16. DEFINITION OF
		CERTAIN TERMS. For
		purposes of this Agreement, “business day” means any day on which the
		New York Stock Exchange, Inc. is open for trading.
	 

	 
		17. GOVERNING LAW,
		AGENT FOR
		SERVICE AND JURISDICTION. This Agreement shall be governed by and construed in
		accordance with the laws of the State of New York, including without limitation
		Section 5-1401 of the New York General Obligations Law. No legal proceeding may be commenced, prosecuted or
		continued in any court other than the courts of the State of New York located
		in the City and County of New York or in the United States District Court for
		the Southern District of New York, which courts shall have jurisdiction over
		the adjudication of such matters, and the Company and the Placement Agents each
		hereby consent to the jurisdiction of such courts and personal service with
		respect thereto. The Company and the Placement Agents each hereby consent to
		personal jurisdiction, service and venue in any court in which any legal
		proceeding arising out of or in any way relating to this Agreement is brought
		by any third party against the Company or the Placement Agents. The Company and
		the Placement Agents each hereby waive all right to trial by jury in any legal
		proceeding (whether based upon contract, tort or otherwise) in any way arising
		out of or relating to this Agreement. The Company agrees that a final judgment
		in any such legal proceeding brought in any such court shall be conclusive and
		binding upon the Company and the Placement Agents and may be enforced in any
		other courts in the jurisdiction of which the Company is or may be subject, by
		suit upon such judgment.
	 

	 
		18. PLACEMENT AGENTS’ INFORMATION.
		The parties hereto acknowledge and
		agree that, for all purposes of this Agreement, the Placement Agents’
		Information consists solely of the following information in the Prospectus: (i)
		the last paragraph on the front cover page concerning the terms of the offering
		by the Placement Agents; and (ii) the statements concerning the Placement
		Agents contained in the first paragraph under the heading “Plan of
		Distribution.”
	 

	 
		19. PARTIAL UNENFORCEABILITY. The invalidity or unenforceability of any section,
		paragraph, clause or provision of this Agreement shall not affect the validity
		or enforceability of any other section, paragraph, clause or provision hereof.
		If any section, paragraph, clause or provision of this Agreement is for any
		reason determined to be invalid or unenforceable, there shall be deemed to be
		made such minor changes (and only such minor changes) as are necessary to make
		it valid and enforceable.
	 

	 
		 
	 

	 
		 
	 

	 
		27
	 

	 
		 
	 

	 
	 

	 

	 
		20. GENERAL. This
		Agreement constitutes the entire agreement of the parties to this Agreement and
		supersedes all prior written or oral and all contemporaneous oral agreements,
		understandings and negotiations with respect to the subject matter hereof. In
		this Agreement, the masculine, feminine and neuter genders and the singular and
		the plural include one another. The section headings in this Agreement are for
		the convenience of the parties only and will not affect the construction or
		interpretation of this Agreement. This Agreement may be amended or modified,
		and the observance of any term of this Agreement may be waived, only by a
		writing signed by the Company and the Placement Agents. 
	 

	 
		21. COUNTERPARTS. This
		Agreement may be signed in any number of counterparts, each of which shall be
		an original, with the same effect as if the signatures thereto and hereto were
		upon the same instrument and such signatures may be delivered by
		facsimile.
	 

	 
		 
	 

	 
		 
	 

	 
		28
	 

	 
		 
	 

	 
	 

	 

	 
		If the foregoing is in accordance with your
		understanding of the agreement between the Company and the Placement Agents,
		kindly indicate your acceptance in the space provided for that purpose
		below.
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				  Very truly yours,
 

				  TOWERSTREAM CORPORATION
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				  
 By: 
				

			 	
				
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Name:

				  Title:
				

			 

 

	 
		 
	 

	 
		 
	 

	 
			
				
				  Accepted as of the date

				  first above written:
 

				  LAZARD CAPITAL MARKETS LLC
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				  
 By: 
				

			 	
				
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				   
				

			 	
				
				  Name:

				  Title:
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 

 

	 
		 
	 

	 
		 
	 

	 
			
				
				  CANACCORD ADAMS INC.
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				  
 By: 
				

			 	
				
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				   
				

			 	
				
				  Name:

				  Title:
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 

 

	 
		 
	 

	 
		 
	 

	 
			
				
				  MORGAN JOSEPH & CO. INC.
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				  
 By: 
				

			 	
				
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				   
				

			 	
				
				  Name:

				  Title:
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 

 

	 
		 
	 

	 
		 
	 

	 
		 
	 

	 
		29
	 

	 
		 
	 

	 
	 

	 

	 
		SCHEDULE A
	 

	 
		General Use Free Writing Prospectuses

	 

	 
		[None.]
	 

	 
		 
	 

	 
		 
	 

	 
	 

	 

	 
		SCHEDULE B
	 

	 
		List of officers, directors, shareholders,
		optionholders and 
	 

	 
		warrantholders subject to Section 5
	 

	 
		 
	 

	 
		 
	 

	 
	 

	 

	 
		EXHIBIT A
	 

	 
		[Form of Subscription Agreement]
	 

	 
		 
	 

	 
		 
	 

	 
	 

	 

	 
		EXHIBIT B
	 

	 
		[Form of Lock-Up Agreement]
	 

	 
		 
	 

	 
		 
	 

	 
	 

	 

	 
		EXHIBIT C
	 

	 
		Form of Haynes and Boone, LLP Opinion

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