Document:

EX-10.128

Exhibit 10.128

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR
ANY STATE SECURITIES OR “BLUE SKY” LAWS, AND MAY NOT BE OFFERED, SOLD, ASSIGNED, TRANSFERRED,
PLEDGED, OR OTHERWISE DISPOSED OF UNLESS REGISTERED PURSUANT TO THE PROVISIONS OR SUCH ACT AND BLUE
SKY LAWS OR AN EXEMPTION THEREFROM IS AVAILABLE AS ESTABLISHED BY A WRITTEN OPINION OF COUNSEL
ACCEPTABLE TO THE MAKER.

PROMISSORY NOTE

$— Greenwich, Connecticut

August 24, 2006

FOR VALUE RECEIVED, the undersigned, Halo Technology Holdings, Inc., a Nevada corporation (the
“Maker”), hereby unconditionally promises to pay to the order of      (the
“Holder”), having an address at [     ], at such address or at such other place
as may be designated in writing by Holder, or its assigns, the aggregate principal sum of
     , together with interest from the date set forth above on the unpaid principal balance
of this Note outstanding at a rate equal to eight and one-quarter percent (8.25%) per annum and
continuing on the outstanding principal until this Promissory Note (this “Note”) is
converted into Common Stock as provided herein or indefeasibly and irrevocably paid in full by the
Maker.

Simple interest on this Note shall accrue at the annual rate specified herein and the
principal of this Note and all accrued and unpaid interest hereon shall mature and become due and
payable on February 15, 2007 (the “Maturity Date”). Interest hereon shall be calculated on
the basis of a 360-day year applied to the actual number of days elapsed until all accrued and
unpaid interest is paid in full. Any amount due on a day that is not a Business Day shall be due
on the next business day. Except as provided herein, all payments of principal and interest by the
Maker under this Note shall be made in United States dollars in immediately available funds to an
account specified by Holder.

If payment of the principal and/or interest is not actually received by Holder on or before
the Maturity Date, the delinquent amount shall bear interest at an annual rate equal to the lesser
of twelve and one-half percent (12.5%) per annum or the highest lawful rate per annum on such
delinquent amount until paid (the “Default Rate”), in lieu of the rate set forth above.
All interest due and payable hereunder which is not paid when due for any reason shall be
cumulated, added to the principal and accrue interest at the Default Rate. In no event shall any
interest charged, collected or reserved under this Note exceed the maximum rate then permitted by
applicable law and if any such payment is paid by Maker, then such excess sum shall be credited by
Holder as a payment of principal.

1. Definitions. Capitalized terms used herein shall have the respective meanings
ascribed thereto in the Merger Agreement unless otherwise defined herein. Unless the context
otherwise requires, when used herein the following terms shall have the meaning indicated:

“Affiliate” shall mean, with respect to any Person, any other Person which directly or
indirectly through one or more intermediaries Controls, is controlled by, or is under common
control with, such Person.

“Board” shall mean the Board of Directors of Maker.

“Business Day” other than a Saturday or Sunday, on which banks in New York City are
open for the general transaction of business.

“Change of Control” means, at any time (i) any Person or any Persons acting together
that would constitute a “group” for purposes of Section 13(d) under the Exchange Act, or any
successor provision thereto, shall acquire beneficial ownership (within the meaning of Rule 13d-3
under the Exchange Act, or any successor provision thereto) in a single transaction or a series of
related transactions, of more than 50% of the aggregate voting power of Maker; or (ii) the Maker
merges into or consolidates with any other Person, or any Person merges into or consolidates with
Maker and, after giving effect to such transaction, the stockholders of Maker immediately prior to
such transaction own less than 50% of the aggregate voting power of Maker or the successor entity
of such transaction; or (iii) Maker sells or transfers its assets, as an entirety or substantially
as an entirety, to another Person; or (iv) any “change of control” or similar event under any loan
agreement, mortgage, indenture or other agreement relating to any indebtedness for borrowed money
of Maker shall occur.

“Common Stock” shall mean the Common Stock, par value $0.01 per share, of Maker or any
securities into which shares of Common Stock may be reclassified after the date hereof.

“Control” (including the terms “controlling”, “controlled by” or “under common control
with”) means the possession, direct or indirect, of the power to direct or cause the direction of
the management and policies of a Person, whether through the ownership of voting securities, by
contract or otherwise.

“Conversion Price” shall mean the price per share of Common Stock equal to 85% of the
Market Price for such share.

“Event of Default” has the meaning set forth in Section 5 hereof.

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

“Holder” has the meaning set forth in the first paragraph hereof.

“Indebtedness” means any liability or obligation (i) for borrowed money, other than
trade payables incurred in the ordinary course of business, (ii) evidenced by bonds, debentures,
notes, or other similar instruments, (iii) in respect of letters of credit or other similar
instruments (or reimbursement obligations with respect thereto), except letters of credit or other
similar instruments issued to secure payment of trade payables arising in the ordinary course of
business consistent with past practices, (iv) to pay the deferred purchase price of property or
services, except trade payables arising in the ordinary course of business consistent with past
practices, (v) as lessee under capitalized leases, (vi) secured by a lien on any asset of Maker or
a Subsidiary, whether or not such obligation is assumed by Maker or such Subsidiary.

“Investors” has the meaning set forth in the Investors’ Agreement.

“Investors’ Agreement” shall mean the Investors’ Agreement, dated as of August 23,
2006, and as that agreement may be amended from time to time, by and among Maker and the Investors
party thereto.

“Maker” has the meaning set forth in the first paragraph hereof.

“Market Price” shall mean (A) if the Common Stock is then listed on a national stock
exchange, the average closing price of one share of Common Stock in the most recent five (5)
trading sessions during which such security has traded ending two Trading Days prior to the
Maturity Date; or (B) if such security is then included in the “pink sheets,” the Market Price
shall be the closing sale price of one share of Common Stock on the “pink sheets” two Trading Days
prior to the Maturity Date or, if no such closing sale price is available, the average of the high
bid and the low ask price quoted on the “pink sheets” ending two Trading Days prior to the Maturity
Date, provided that if such stock has not traded in the prior five (5) trading sessions, the Market
Price shall be the average closing price of one share of Common Stock in the most recent five (5)
trading sessions during which such security has traded.

“Maturity Date” has the meaning set forth in the first paragraph hereof.

“Merger Agreement” shall mean the Agreement and Plan of Merger, dated as of August 23,
2006, as that agreement may be amended from time to time, by and among Maker, Tenebril Acquisition
Sub, Inc., Tenebril, Inc. and the other parties thereto.

“Note” has the meaning set forth in the first paragraph hereof.

“Person” means an individual, corporation, partnership, limited liability company,
trust, business trust, association, joint stock company, joint venture, sole proprietorship,
unincorporated organization, governmental authority or any other form of entity not specifically
listed herein.

“Subsidiary” of any Person means another Person, an amount of the voting securities,
other voting ownership or voting partnership interests of which is sufficient to elect at least a
majority of its Board of Directors or other governing body (or, if there are no such voting
interests, 50% or more of the equity interests of which) is owned directly or indirectly by such
first Person.

“Trading Day” means (i) if the relevant stock or security is listed or admitted for
trading on The New York Stock Exchange, Inc. or any other national securities exchange, a day on
which such exchange is open for business; (ii) if the relevant stock or security is quoted on
Nasdaq or any other system of automated dissemination of quotations of securities prices, a day on
which trades may be effected through such system; or (iii) if the relevant stock or security is not
listed or admitted for trading on any national securities exchange or quoted on Nasdaq or any other
system of automated dissemination of quotation of securities prices, a day on which the relevant
stock or security is traded in a regular way in the over-the-counter market and for which a closing
bid and a closing asked price for such stock or security are available, shall mean a day, other
than a Saturday or Sunday, on which The New York Stock Exchange, Inc. is open for trading.

2. Merger Agreement. This Note is one of a series of Promissory Notes of like tenor
in an aggregate principal amount of Three Million United States Dollars ($3,000,000) issued by
Maker pursuant to the terms of the Merger Agreement. This Note is subject to the terms and
conditions of, and entitled to the benefit of, the provisions of the Merger Agreement. This Note
is transferable and assignable by Holder to any Person to whom such transfer is permissible under
applicable law; provided that the Note shall be transferred in denominations of not less
than $100,000 or, if the outstanding balance of this Note is less than $100,000, the amount of such
outstanding balance. Maker agrees to issue from time to time a replacement Note in the form hereof
to facilitate such transfers and assignments. In addition, after delivery of an indemnity in form
and substance reasonably satisfactory to Maker, Maker also agrees to promptly issue a replacement
Note if this Note is lost, stolen, mutilated or destroyed.

3. Conversion of Note.

(a) If permitted by applicable securities laws, on the Maturity Date and subject to and upon
compliance with the provisions of this Note, Maker shall have the right, at its option, to convert
some or all of the Note into the number of fully paid and nonassessable shares of Common Stock as
is obtained by: (i) adding (A) the principal amount of this Note to be converted and (B) the amount
of accrued and unpaid interest with respect to such portion of this Note to be converted; and (ii)
dividing the result obtained pursuant to clause (i) above by the Conversion Price then in effect.
The rights of conversion set forth in this Section 3 shall be exercised by Maker by giving
written notice to Holder that Maker elects to convert a stated amount of this Note into Common
Stock at lease three (3) Business Days prior to the Maturity Date. Within ten (10) Business Days
following the Maturity Date, Holder shall surrender this Note (or, in lieu thereof, by delivery of
an appropriate lost security affidavit in the event this Note shall have been lost or destroyed) to
Maker at its principal office (or such other office or agency of Maker as Maker may designate by
notice in writing to Holder), together with a statement of the name or names (with address) in
which the certificate or certificates for shares of Common Stock shall be issued. If Holder does
not deliver this Note within such ten (10) Business Day period, Maker shall issue the certificate
or certificates for shares of Common Stock in the name of and deliver such certificates to the
address of Holder listed on the face of this Note or to such other name or address delivered to
Maker prior to the date of such issuance.

(b) Promptly (but in no event more than three (3) Business Days) after receipt of the
information from Holder referred to in Section 3(a) above and surrender of this Note (or,
in lieu thereof, by delivery of an appropriate lost security affidavit in the event this Note shall
have been lost or destroyed) or following the expiration of the ten (10) Business Day period
referred to in Section 3(a) above, Maker shall issue and deliver, or cause to be issued and
delivered, to Holder, registered in such name or names as Holder may direct in writing, a
certificate or certificates for the number of whole shares of Common Stock issuable upon the
conversion of such portion of this Note. To the extent permitted by law, such conversion shall be
deemed to have been effected as of the close of business on the Maturity Date. Upon issuance and
delivery of the shares of Common Stock converted hereunder, the rights of Holder shall cease with
respect to the principal amount of the Notes being converted, and the Person or Persons in whose
name or names any certificate or certificates for shares of Common Stock shall be issuable upon
such conversion shall be deemed to have become the holder or holders of record of the shares of
Common Stock represented thereby.

(c) No fractional shares shall be issued upon any conversion of this Note into Common Stock.
If any fractional share of Common Stock would be delivered upon such conversion, Maker, in lieu of
delivering such fractional share, shall pay to Holder an amount in cash equal to the Market Price
of such fractional share of Common Stock.

(d) In case the principal amount of this Note exceeds the principal amount and accrued
interest being converted, Maker shall, upon such conversion, deliver a cash payment to Holder equal
to the principal amount of this Note plus all accrued but unpaid interest which is not to be
converted into shares of Common Stock.

(e) In the event that, as a result of any reorganization, reclassification, consolidation,
merger, sale, transfer or other disposition, Holder shall become entitled to receive any shares of
capital stock of Maker other than shares of Common Stock, the shares so receivable upon conversion
of this Note shall be on terms as nearly equivalent as practicable to the provisions contained in
this Note.

4. Prepayment. Prepayment of this Note in cash but not in Common Stock is permitted,
in whole or in part, at anytime, without premium or penalty of any kind. All partial prepayments
shall be first applied to any outstanding fees due under this Note, then to any accrued and unpaid
interest and then to reduce the principal balance hereunder in reverse order of maturity. If the
obligations hereunder are partially prepaid in cash prior to the Maturity Date, the balance of the
principal and interest due at the Maturity Date may be paid in cash or Common Stock.

5. Event of Default. The occurrence of any of following events shall constitute an
“Event of Default” hereunder:

(a) the failure of Maker to make any payment of principal or interest on this Note when due,
whether at maturity, upon acceleration or otherwise;

(b) there shall have occurred an acceleration of the stated maturity of any Indebtedness of
Maker or its Subsidiaries of Two Hundred Fifty Thousand United States Dollars ($250,000) or more in
aggregate principal amount (which acceleration is not rescinded, annulled or otherwise cured within
ten (10) days of receipt by Maker or a Subsidiary of notice of such acceleration);

(c) Maker makes an assignment for the benefit of creditors or admits in writing its inability
to pay its debts generally as they become due; or an order, judgment or decree is entered
adjudicating Maker as bankrupt or insolvent; or any order for relief with respect to Maker is
entered under the Federal Bankruptcy Code or any other bankruptcy or insolvency law; or Maker
petitions or applies to any tribunal for the appointment of a custodian, trustee, receiver or
liquidator of Maker or of any substantial part of the assets of Maker, or commences any proceeding
relating to it under any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt,
dissolution or liquidation law of any jurisdiction; or any such petition or application is filed,
or any such proceeding is commenced, against Maker and either (i) Maker by any act indicates its
approval thereof, consents thereto or acquiescence therein or (ii) such petition application or
proceeding is not dismissed within sixty (60) days;

(d) a final, non-appealable judgment which, in the aggregate with other outstanding final
judgments against Maker and its Subsidiaries, exceeds Five Hundred Thousand United States Dollars
($500,000) shall be rendered against Maker or a Subsidiary and within sixty (60) days after entry
thereof, such judgment is not discharged or execution thereof stayed pending appeal, or within
sixty (60) days after the expiration of such stay, such judgment is not discharged;
provided, however, that a judgment that provides for the payment of royalties
subsequent to the date of the judgment shall be deemed to be discharged so long as Maker or the
Subsidiary affected thereby is in compliance with the terms of such judgment; or

(e) a Change of Control occurs.

Upon an Event of Default, Holder may, at Holder’s option and without notice, declare all principal
and interest due under this Note to be due and payable in cash only immediately without presentment
demand, protest or any other notice of any kind, all of which are hereby expressly waived by Maker.
Upon the occurrence of any Event of Default, Holder may, in addition to declaring all amounts due
hereunder to be immediately due and payable, pursue any available remedy, whether at law or in
equity. Notwithstanding anything to the contrary herein or in the Merger Agreement, Holder’s
rights hereunder shall be cumulative and not in lieu of any right or remedy such Holder may have
under or pursuant to the Merger Agreement. If an Event of Default occurs, Maker shall pay to
Holder the reasonable attorneys’ fees and disbursements and all other reasonable out-of-pocket
costs incurred by Holder in order to collect amounts due and owing under this Note or otherwise to
enforce Holder’s rights and remedies.

6. No Waiver. No delay or omission on the part of Holder in exercising any right
under this Note shall operate as a waiver of such right or of any other right of Holder, nor shall
any delay, omission or waiver on any one occasion be deemed a bar to or waiver of the same or any
other right on any future occasion.

7. Amendments in Writing. Any term of this Note may be amended or waived upon the
written consent of Maker and Holder.

8. Waiver of Jury Trial. MAKER HEREBY WAIVES ITS RIGHT TO A JURY TRIAL OF ANY CLAIM
OR CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS NOTE, INCLUDING CONTRACT, TORT, BREACH OF DUTY
AND ALL OTHER CLAIMS. THE COMPANY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL.

9. Governing Law; Consent to Jurisdiction. This Note shall be governed by and
construed under the law of the State of Delaware, without giving effect to the conflicts of law
principles thereof. Maker and, by accepting this Note, Holder, each irrevocably submits to the
exclusive jurisdiction of the courts of the Commonwealth of Massachusetts located in Suffolk County
and the United States District Court located in or nearest to Suffolk County for the for the
purpose of any suit, action, proceeding or judgment relating to or arising out of this Note and the
transactions contemplated hereby. Service of process in connection with any such suit, action or
proceeding may be served on each party hereto anywhere in the world by the same methods as are
specified for the giving of notices under this Note. Maker and, by accepting this Note, Holder,
each irrevocably consents to the jurisdiction of any such court in any such suit, action or
proceeding and to the laying of venue in such court. Maker and, by accepting this Note, Holder,
each irrevocably waives any objection to the laying of venue of any such suit, action or proceeding
brought in such courts and irrevocably waives any claim that any such suit, action or proceeding
brought in any such court has been brought in an inconvenient forum.

10. Costs. If action is instituted to collect on this Note, Maker promises to pay all
costs and expenses, including reasonable attorney’s fees, incurred in connection with such action.

11. Notices. All notices hereunder shall be given in writing and shall be deemed
delivered when received by the other party hereto at the address set forth in the Merger Agreement
or at such other address as may be specified by such party from time to time in accordance with the
Merger Agreement.

12. Successors and Assigns. This Note shall be binding upon the successors or assigns
of Maker and shall inure to the benefit of the successors and assigns of Holder.

13. Assignment. This Note and the obligations hereunder may not be assigned by the
Maker without the prior written consent of Holder. Any reference to Holder hereof shall be deemed
to include the successors and assigns of such Holder.

14. Invalidated Payments. To the extent that any payment made or received pursuant to
this Note is subsequently invalidated, determined to be fraudulent or preferential, set aside,
defeased or required to be repaid to a trustee, debtor in possession, receiver, custodian or any
other person under any bankruptcy law, common law or equitable cause or any other law, then
obligations intended to be satisfied by such payment shall be revived and shall continue as if such
payment had not been received.

[Remainder of page intentionally left blank.

Signature page follows.]

1

IN WITNESS WHEREOF, the Maker has executed this Note as of the date set forth above.

HALO TECHNOLOGY HOLDINGS, INC.

By:

Name:

Tenebril Note

Title:

2EX-10.129

Exhibit 10.129

INVESTORS’ AGREEMENT

This Investors’ Agreement (this “Agreement”) is entered into this      th day of
August, 2006 by and among HALO Technology Holdings, Inc., a Nevada corporation (the
“Company”), and the persons listed on Exhibit A hereto (each, an “Investor”
and collectively, the “Investors”).

RECITALS

A. Pursuant to that certain Agreement and Plan of Merger, dated as of August [     ], 2006, as
that agreement may be amended from time to time, by and among the Company, Tenebril Acquisition
Sub, Inc., Tenebril, Inc. and the other parties thereto (the “Merger Agreement”), the
Company shall issue to the Investors certain Promissory Notes in the aggregate principal amount of
Three Million Dollars ($3,000,000) (collectively, the “Notes”).

B. Pursuant to the terms of the Notes, the Company has the option to convert the outstanding
principal and accrued interest under each of the Notes into shares of the Company’s common stock,
$0.01 par value per share (the “Common Stock”) to be issued to the Investors in full
satisfaction of the Company’s payment obligations under the Notes.

C. As a condition to and in consideration of the transactions contemplated in the Merger
Agreement and the Notes, the parties hereto enter into this Agreement in order to provide the
Investors with certain rights to register the Registrable Shares.

AGREEMENT

The parties hereby agree as follows:

1. Definitions. For purposes of this Agreement (terms defined in the singular shall
apply to the plural form and vice-versa):

1.1 The terms “register,” “registered,” and “registration” refer to a
registration effected by preparing and filing a Registration Statement or similar document in
compliance with the Securities Act of 1933, as amended (the “Act”), and the declaration or
ordering of effectiveness of such Registration Statement or document by the SEC;

1.2 The term “Registrable Shares” means (i) the Common Stock of the Company issued in
connection with the conversion of the Notes and any other securities into which such shares may
hereinafter be reclassified and (ii) any other shares of Common Stock of the Company issued as (or
issuable upon the conversion or exercise of any warrant, right or other security which is issued
as) a dividend or other distribution with respect to, or in exchange for or in replacement of, such
shares. Notwithstanding the foregoing, Common Stock or other securities shall only be treated as
Registrable Shares if and so long as they have not (A) been sold to or through a broker or dealer
or underwriter in a public distribution or a public securities transaction, or (B) been sold in a
transaction exempt from the registration and prospectus delivery requirements of the Act under
Section 4(1) thereof so that all transfer restrictions, and restrictive legends with respect
thereto, if any, are removed upon the consummation of such sale or (C) with regard to any
individual Investor, become eligible for sale pursuant to Rule 144(k).

2. Registration Rights for Registrable Shares.

2.1 Registration of Registrable Shares. The Company shall, within thirty (30) days
after the issuance of the Registrable Shares (the “Filing Deadline”), prepare and file a
registration statement on Form SB-2 or an equally suitable registration statement (the
“Registration Statement”) for the purpose of registering all of the Registrable Shares for
resale. Such Registration Statement also shall cover, to the extent allowable under the 1933 Act
and the rules promulgated thereunder (including Rule 416), such indeterminate number of additional
shares of Common Stock resulting from stock splits, stock dividends or similar transactions with
respect to the Registrable Securities. The Company shall use its reasonable best efforts to obtain
from each person who now has piggyback registration rights a waiver of those rights with respect to
the Registration Statement. The Company shall use its best efforts to cause such Registration
Statement to be declared effective by the Securities and Exchange Commission (the “SEC”) at
the earliest practicable date thereafter. The Company will use its best efforts to keep the
Registration Statement effective (the “Effectiveness Period”) (subject to reasonable
blackout provisions as may be required in order to comply with the securities laws) until the
earlier of: (i) twenty four (24) months after the date that the Registration Statement is declared
effective by the SEC; (ii) the date when all of the Registrable Shares covered by the Registration
Statement are sold; or (iii) the date when Rule 144(k) is available with respect to all of the
securities covered by such Registration Statement.

2.2 Representations of Investors. Each Investor hereby represents to and covenants
with the Company that, during the period in which any Registration Statement effected pursuant to
Section 2 remains effective, such Investor will:

(a) not engage in any stabilization activity in connection with any of the Company’s
securities;

(b) cause to be furnished to any purchaser of the Registrable Shares and to the broker-dealer,
if any, through whom Registrable Shares may be offered, a copy of the final prospectus relating to
such Registration Statement; and

(c) not bid for or purchase any securities of the Company or any rights to acquire the
Company’s securities, or attempt to induce any person to purchase any of the Company’s securities
or any rights to acquire the Company’s securities, in each case, other than as permitted under the
Securities Exchange Act of 1934, as amended (the “Exchange Act”).

2.3 Information for Use in Registration Statement. Each Investor covenants to the
Company that such Investor will complete the information requested by the Selling Investor’s
Questionnaire attached as Exhibit B hereto (the “Questionnaire”), and further
covenants to the Company that all information provided by such Investor in the Questionnaire will
be true, accurate and complete as of the date provided. Each Investor understands that the written
information in the Questionnaire and all written representations made in this Agreement are being
provided to the Company specifically for use in, or in connection with, the Registration Statement
and the prospectus contained therein, and has executed this Agreement with such knowledge.

2.4 Investors’ Piggy-Back Registrations. If at any time after the Filing Deadline and
prior to the expiration of the Effectiveness Period there is not an effective Registration
Statement covering all of the Registrable Shares and the Company shall determine to prepare and
file, or has filed, with the SEC a registration statement relating to an offering for its own
account or the account of others under the Act of any of its equity securities, other than (i) on
Form S-4 or Form S-8 (each as promulgated under the Act) or their then equivalents relating to
equity securities to be issued solely in connection with an acquisition of any entity or business
or equity securities issuable in connection with stock option or other employee benefit plans or
(ii) on Form S-3 (as promulgated under the Act) or its then equivalent relating to equity
securities to be issued solely in connection with a dividend reinvestment plan, then the Company
shall send to each Investor written notice of such determination and, if within fifteen (15) days
after receipt of such notice, any such Investor shall so request in writing, the Company shall
include in such registration statement all or any part of such Registrable Shares such Investor
requests to be registered, subject to customary underwriter cutbacks applicable to all holders of
registration rights.

3. Registration Procedures. In connection with the Company’s registration obligations
hereunder, the Company shall:

(a) Not less than five (5) trading days prior to the filing of a Registration Statement or any
related prospectus or any amendment or supplement thereto, furnish to the Investors copies of all
such documents proposed to be filed which documents (other than those incorporated by reference)
will be subject to the review of such Investors. The Company shall not file a Registration
Statement or any such prospectus or any amendments or supplements thereto to which the Investors
holding a majority of the Registrable Shares shall reasonably object in writing in good faith
unless and until the Company shall have reasonably responded to the written comments of such
Investors, including, without limitation, by making such changes to such Registration Statement or
any related prospectus or any amendment thereto as are necessary to reasonably address such
objection.

(b) (i) Prepare and file with the SEC such amendments, including post-effective amendments,
to each Registration Statement and the prospectus used in connection therewith as may be necessary
to (x) keep such Registration Statement continuously effective for the Effectiveness Period, and
(y) include any Registrable Shares held by any person who becomes a successor or assign of an
Investor (a “Successor Holder”); such amendment shall be filed promptly after notice of
transfer by an Investor to such Successor Holder has been provided to the Company (provided, that
if the inclusion of Registrable Shares held by a Successor Holder may be accomplished by a
prospectus supplement, the Company may, in lieu of filing an amendment to the Registration
Statement, promptly prepare and file pursuant to Rule 424 such prospectus supplement); (ii) cause
the related prospectus to be amended or supplemented by any required prospectus supplement, and as
so supplemented or amended to be filed pursuant to Rule 424; (iii) respond as promptly as
reasonably possible, and in any event within ten trading days, to any comments received from the
SEC with respect to each Registration Statement or any amendment thereto and, as promptly as
reasonably possible provide to the Investors true and complete copies of all correspondence from
and to the SEC relating to such Registration Statement that pertains to the Investors as selling
stockholders but not any comments that would result in the disclosure to the Investors of material
and non-public information concerning the Company; (iv) prepare and file with the SEC such
additional Registration Statements as may be required in order to register for resale under the Act
all of the Registrable Shares; and (v) comply in all material respects with the provisions of the
Act and the Exchange Act with respect to each Registration Statement and the disposition of all
Registrable Shares covered by each Registration Statement.

(c) Notify the Investors in writing no later than two trading days following the day (i)(A)
when the SEC notifies the Company whether there will be a “review” of such Registration Statement
and whenever the SEC comments in writing on such Registration Statement (the Company shall provide
to each of the Investors true and complete copies thereof and all written responses thereto that
pertain to the Investors as selling stockholders or to the Plan of Distribution, but not
information which the Company reasonably believes would constitute material and non-public
information); and (B) with respect to each Registration Statement or any post-effective amendment,
when the same has become effective; (ii) of any request by the SEC or any other federal or state
governmental authority for amendments or supplements to a Registration Statement or prospectus or
for additional information that pertains to the Investors as selling stockholders or the Plan of
Distribution; (iii) of the issuance by the SEC of any stop order suspending the effectiveness of a
Registration Statement covering any or all of the Registrable Shares or the initiation of any
proceedings for that purpose; (iv) of the receipt by the Company of any notification with respect
to the suspension of the qualification or exemption from qualification of any of the Registrable
Shares for sale in any jurisdiction, or the initiation or threatening of any proceeding for such
purpose; and (v) subject to Section 3(j), of the occurrence of any event or passage of time that
makes the financial statements included in a Registration Statement ineligible for inclusion
therein or any statement made in such Registration Statement or prospectus or any document
incorporated or deemed to be incorporated therein by reference untrue in any material respect or
that requires any revisions to such Registration Statement, prospectus or other documents so that,
in the case of such Registration Statement or the prospectus, as the case may be, it will not
contain any untrue statement of a material fact or omit to state any material fact required to be
stated therein or necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading.

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

(e) Furnish to each Investor, without charge, at least one conformed copy of each Registration
Statement and each amendment thereto and all exhibits to the extent requested by such Investor
(including those previously furnished or incorporated by reference) promptly after the filing of
such documents with the SEC.

(f) Promptly deliver to each Investor, without charge, as many copies of each prospectus or
prospectuses and each amendment or supplement thereto as such Investor may reasonably request. The
Company hereby consents to the use of such prospectus and each amendment or supplement thereto by
each of the Investors in connection with the offering and sale of the Registrable Shares covered by
such prospectus and any amendment or supplement thereto.

(g) Prior to any public offering of Registrable Shares, use its reasonable best efforts to
register or qualify or cooperate with the Investors in connection with the registration or
qualification (or exemption from such registration or qualification) of such Registrable Shares for
offer and sale under the securities or Blue Sky laws of those jurisdictions within the United
States identified by each Investor to keep each such registration or qualification (or exemption
therefrom) effective during the Effectiveness Period and to do any and all other acts or things
necessary or advisable to enable the disposition in such jurisdictions of the Registrable Shares
covered by the Registration Statements; provided, that the Company shall not be required to
qualify generally to do business or file a general consent to service of process in any
jurisdiction where it is not then so qualified or subject the Company to any material tax in any
such jurisdiction where it is not then so subject .

(h) Cooperate with the Investors to facilitate the timely preparation and delivery of
certificates representing Registrable Shares to be delivered to a purchaser pursuant to the
Registration Statements, which certificates shall be free of all restrictive legends, and to enable
such Registrable Shares to be in such denominations and registered in such names as any such
Investors may request.

(i) Upon the occurrence of any event contemplated by Section 3(c)(v), as promptly as
reasonably possible, prepare a supplement or amendment, including a post-effective amendment, to
the affected Registration Statement or a supplement to the related prospectus or any document
incorporated or deemed to be incorporated therein by reference, and file any other required
document so that, as thereafter delivered, no Registration Statement nor any prospectus will
contain an untrue statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading.

(j) The Company may require each selling Investor to furnish to the Company a certified
statement as to the number of shares of Common Stock beneficially owned by such Investor and any
affiliate thereof and as to any other information for such Investor which the SEC requires to be
disclosed in any Registration Statements. For not more than sixty (60) consecutive days or for a
total of not more than one-hundred and twenty (120) days in any twelve (12) month period, the
Company may suspend the use of any prospectus included in any Registration Statement in connection
with any of the events described in Section 3(c)(ii)-(v) (an “Allowed Delay”); provided,
that the Company shall promptly (a) notify the Investors in writing of the existence of (but in no
event, without the prior written consent of an Investor, shall the Company disclose to such
Investor any of the facts or circumstances regarding) material non-public information giving rise
to an Allowed Delay, (b) advise the Investors in writing to cease all sales under the Registration
Statement until the end of the Allowed Delay and (c) use reasonable efforts to terminate an Allowed
Delay as promptly as practicable. The periods set forth in Section 2.1 shall not be tolled during
any Allowed Delay.

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

4. Registration Expenses. All fees and expenses incident to the Company’s performance
of its obligation under this Agreement (excluding any underwriting discounts and selling
commissions and all legal fees and expenses of legal counsel for any Investor) shall be borne by
the Company whether or not any Registrable Shares are sold pursuant to a Registration Statement.
The fees and expenses referred to in the foregoing sentence shall include, without limitation, (i)
all registration and filing fees (including, without limitation, fees and expenses (A) payable to
the SEC in connection with the filing of a Registration Statement, (B) with respect to filings
required to be made with the trading market on which the Common Stock is then listed for trading,
and (C) in compliance with applicable state securities or Blue Sky laws), (ii) printing expenses
(including, without limitation, expenses of printing certificates for Registrable Shares and of
printing prospectuses if the printing of prospectuses is reasonably requested by the holders of a
majority of the Registrable Shares included in the Registration Statement), (iii) messenger,
telephone and delivery expenses, (iv) fees and disbursements of counsel for the Company, (v) Act
liability insurance, if the Company so desires such insurance, and (vi) fees and expenses of all
other persons retained by the Company in connection with the consummation of the transactions
contemplated by this Agreement. In addition, the Company shall be responsible for all of its
internal expenses incurred in connection with the consummation of the transactions contemplated by
this Agreement (including, without limitation, all salaries and expenses of its officers and
employees performing legal or accounting duties), the expense of any annual or other audit or
review of its financial statements and the fees and expenses incurred in connection with the
listing of the Registrable Shares on any securities exchange as required hereunder.

5. Indemnification.

(a) Indemnification by the Company. The Company shall, notwithstanding any
termination of this Agreement, indemnify and hold harmless each Investor, the officers, directors,
agents, investment advisors, partners, members, shareholders and employees of each of them, each
person who controls any such Investor (within the meaning of Section 15 of the Act or Section 20 of
the Exchange Act) and the officers, directors, agents and employees of each such controlling
person, to the fullest extent permitted by applicable law, from and against any and all losses,
claims, damages, liabilities, costs (including, without limitation, reasonable costs of preparation
and reasonable attorneys’ fees) and expenses (collectively, “Losses”), as incurred, arising
out of or relating to any untrue or alleged untrue statement of a material fact contained in any
Registration Statement, any prospectus or in any amendment or supplement thereto or in any
preliminary prospectus, or arising out of or relating to any omission or alleged omission of a
material fact required to be stated therein or necessary to make the statements therein (in the
case of any prospectus or supplement thereto, in light of the circumstances under which they were
made) not misleading, except to the extent, but only to the extent (1) that such untrue statements
or omissions are based solely upon information regarding such Investor furnished in writing to the
Company by such Investor expressly for use therein, or to the extent that such information relates
to such Investor or such Investor’s proposed method of distribution of Registrable Shares and was
reviewed and expressly approved in writing by such Investor expressly for use in the Registration
Statement (it being understood that each Investor has approved the Plan of Distribution attached
hereto as Annex A for this purpose), such prospectus or in any amendment or supplement
thereto, (2) arising from any offer or sale of Registrable Shares during a period in which the
Company has suspended use of the prospectus pursuant to Section 3(c)(ii)-(v) and of which
suspension such Investor has been provided notice by the Company prior to such offer or sale, or
(3) if such Investor fails to deliver, within the time required by the Act, a prospectus that is
amended or supplemented, to the extent, but only to the extent, that such prospectus, as amended or
supplemented, would have corrected the untrue statement or omission or alleged untrue statement or
omission of a material fact giving rise to such Loss contained in the prospectus delivered by such
Investor, so long as the prospectus, as amended or supplemented, has been delivered to such
Investor by the Company reasonably prior to such time. The Company shall notify the Investors
promptly of the institution, threat or assertion of any proceeding of which the Company is aware in
connection with the transactions contemplated by this Agreement.

(b) Indemnification by Investors. Each Investor shall, notwithstanding any
termination of this Agreement, severally and not jointly, indemnify and hold harmless the Company,
its directors, officers, agents and employees, each person who controls the Company (within the
meaning of Section 15 of the Act and Section 20 of the Exchange Act), and the directors, officers,
agents or employees of such controlling persons, to the fullest extent permitted by applicable law,
from and against all Losses, as incurred, arising solely out of or based solely upon: any untrue
statement of a material fact contained in any Registration Statement, any prospectus, or in any
amendment or supplement thereto, or arising solely out of or based solely upon any omission of a
material fact required to be stated therein or necessary to make the statements therein not
misleading to the extent, but only to the extent (1) that such untrue statements or omissions are
based solely upon information regarding such Investor furnished in writing to the Company by such
Investor expressly for use therein, or to the extent that such information relates to such Investor
or such Investor’s proposed method of distribution of Registrable Shares and was reviewed and
expressly approved in writing by such Investor expressly for use in the Registration Statement (it
being understood that each Investor has approved the Plan of Distribution attached hereto as
Annex A for this purpose), such prospectus or in any amendment or supplement thereto, (2)
arising from any offer or sale of Registrable Shares during a period in which the Company has
suspended use of the prospectus pursuant to Section 3(c)(ii)-(v) and of which suspension such
Investor has been provided notice by the Company prior to such offer or sale, or (3) if such
Investor fails to deliver, within the time required by the Act, a prospectus that is amended or
supplemented, to the extent, but solely to the extent, that such prospectus, as amended or
supplemented, would have corrected the untrue statement or omission or alleged untrue statement or
omission of a material fact giving rise to such Loss contained in the prospectus delivered by such
Investor, so long as the prospectus, as amended or supplemented, has been delivered to such
Investor by the Company reasonably prior to such time. In no event shall the liability of any
selling Investor hereunder be greater in amount than the dollar amount of the net proceeds received
by such Investor upon the sale of the Registrable Shares giving rise to such indemnification
obligation.

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

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

All reasonable fees and expenses of the Indemnified Party (including reasonable fees and
expenses to the extent incurred in connection with investigating or defending such proceeding)
shall be paid to the Indemnified Party, as incurred, within ten trading days of written notice
thereof to the Indemnifying Party (regardless of whether it is ultimately determined that an
Indemnified Party is not entitled to indemnification hereunder; provided, that the Indemnifying
Party may require such Indemnified Party to undertake to reimburse all such fees and expenses to
the extent it is finally judicially determined that such Indemnified Party is not entitled to
indemnification hereunder).

(d) Contribution. If a claim for indemnification under Section 5(a) or 5(b) is
unavailable to an Indemnified Party (by reason of public policy or otherwise), then each
Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount
paid or payable by such Indemnified Party as a result of such Losses, in such proportion as is
appropriate to reflect the relative fault of the Indemnifying Party and Indemnified Party in
connection with the actions, statements or omissions that resulted in such Losses as well as any
other relevant equitable considerations. The relative fault of such Indemnifying Party and
Indemnified Party shall be determined by reference to, among other things, whether any action in
question, including any untrue or alleged untrue statement of a material fact or omission or
alleged omission of a material fact, has been taken or made by, or relates to information supplied
by, such Indemnifying Party or Indemnified Party, and the parties’ relative intent, knowledge,
access to information and opportunity to correct or prevent such action, statement or omission.

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

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

6. Shares. The term “Shares” as used herein shall mean shares of Common Stock
of the Company. Nothing contained herein shall be construed as to restrict the ability of an
Investor to sell, transfer or otherwise dispose of any Shares owned by such Investor.

7. Transferability.

7.1 In General. Nothing herein shall limit the right of an Investor to sell, convey
or transfer any of his Shares. The Shares may be disposed of only pursuant to an effective
registration statement under the Act, to the Company or pursuant to an available exemption from or
in a transaction not subject to the registration requirements of the Act, and in compliance with
any applicable state securities laws. In connection with any transfer of the Shares other than
pursuant to an effective registration statement, to the Company, to an affiliate of an Investor or
in connection with a pledge as contemplated below, the Company may require the transferor thereof
to provide to the Company an opinion of counsel selected by the transferor and acceptable to the
Company (such acceptance not to be unreasonably withheld), the form and substance of which opinion
shall be reasonably satisfactory to the Company, to the effect that such transfer does not require
registration of such transferred Shares under the Act. The Company acknowledges and agrees that an
Investor may from time to time pledge, and/or grant a security interest in some or all of the
Shares, in accordance with applicable securities laws, pursuant to a bona fide margin agreement in
connection with a bona fide margin account and, if required under the terms of such agreement or
account, such Investor may transfer pledged or secured Shares to the pledgees or secured parties.
Such a pledge or transfer would not be subject to approval or consent of the Company and no legal
opinion of legal counsel to the pledgee, secured party or pledgor shall be required in connection
with the pledge, but such legal opinion may be required in connection with a subsequent transfer,
following default by the Investor, to the transferee of the pledge. No notice shall be required of
such pledge. The Company will execute and deliver such reasonable documentation as a pledgee or
secured party of Shares may reasonably request in connection with a pledge or transfer of the
Shares including, without limitation, the preparation and filing of any required prospectus
supplement under Rule 424(b)(3) of the Act or other applicable provision of the Act to
appropriately amend the list of selling stockholders thereunder.

7.2 Legend. Certificates evidencing the Shares will contain the following legend, so
long as is required by this Section 7 and applicable law:

THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION
OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND,
ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A
TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF
COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY
ACCEPTABLE TO THE COMPANY. THESE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA
FIDE MARGIN ACCOUNT SECURED BY SUCH SECURITIES.

7.3 Removal of Legend. Certificates evidencing the Shares shall not contain any
legend (including, without limitation, the legend set forth in Section 7.2: (i) while a
registration statement (including, without limitation, the Registration Statement) covering the
resale of such Shares is effective under the Act or (ii) following any sale of such Shares pursuant
to Rule 144, or (iii) while such Shares are eligible for sale under Rule 144(k), or (iv) if such
legend is not required under applicable requirements of the Act (including, without limitation,
judicial interpretations and pronouncements issued by the Staff of the SEC). The Company shall use
its best efforts to cause its counsel to issue any legal opinion or instruction required by the
Company’s transfer agent to comply with the requirements set forth in this Section. At such time as
a legend is no longer required for the Shares under this Section 7.3, the Company will, no later
than five trading days following the delivery by an Investor to the Company or the Company’s
transfer agent of a certificate representing Shares containing a restrictive legend, deliver or
cause to be delivered to such Investor a certificate representing such Shares that is free from all
restrictive and other legends. The Company may not make any notation on its records or give
instructions to any transfer agent of the Company that enlarge the restrictions on transfer set
forth in this Section except as it may reasonably determine, upon written advice of counsel, are
necessary to comply or to ensure compliance with applicable laws; provided, however, that at such
time as such notation or enlarged restrictions are no longer necessary to comply or to ensure
compliance with applicable laws, the Company shall take such actions as are necessary to
immediately eliminate such notation or enlarged restrictions.

8. Governing Law. This Agreement and all acts and transactions pursuant hereto and
the rights and obligations of the parties hereto shall be governed, construed and interpreted in
accordance with the laws of the State of Delaware, without giving effect to principles of conflicts
of law.

9. Successors and Assigns. No party may assign its rights or obligations under this
Agreement, except with the prior written consent of the other party, provided that an
Investor may assign its rights and its obligations without consent to the extent such Investor
transfers Shares in accordance with the terms hereof. This Agreement shall be binding upon and
shall inure to the benefit of the parties hereto and their permitted successors and assigns.

10. Entire Agreement; Amendment; Termination. This Agreement and the other documents
delivered pursuant hereto constitute the full and entire understanding and agreement between the
parties with regard to the subject matter hereof and thereof and supersede all prior agreements and
understandings among the parties relating to the subject matter hereof. Neither this Agreement nor
any term hereof may be amended, waived, discharged or terminated other than by a written instrument
signed by the Company and the Investors (or the Successor Holders) holding a majority of the shares
of Common Stock issued upon conversion of the Notes.

11. Notices. Unless otherwise provided herein, any notice required or permitted by
this Agreement shall be in writing and shall be deemed duly given upon delivery, when delivered
personally or by overnight courier and addressed to the party to be notified at such party’s
address as set forth on the signature page hereto, or as subsequently modified by written notice.
In the event that any date provided for in this Agreement falls on a Saturday, Sunday or legal
holiday, such date shall be deemed extended to the next business day.

12. Severability. If any term, provision, covenant or restriction of this Agreement
is held by a court of competent jurisdiction to be invalid, void or unenforceable, the remainder of
the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and
effect and shall in no way be affected, impaired or invalidated.

13. Captions and Headings. The captions and headings used herein are for convenience
and ease of reference only and are not intended to be a part of or to affect the meaning or
interpretation of this Agreement.

14. Waiver of Jury Trial. THE COMPANY AND EACH OF THE INVESTORS HEREBY IRREVOCABLY
WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING RELATING TO OR ARISING OUT OF
THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY.

14. Counterparts. This Agreement may be executed in counterparts, and each such
counterpart shall be deemed an original for all purposes.

1

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
respective authorized representatives as of the date first written above.

COMPANY:

HALO TECHNOLOGY HOLDINGS, INC.

By:

Name:

Title:

INVESTORS:

     

	 	 	 	Address:      

     

     

2

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