Document:

Exhibit
      10.3

     

    NEITHER
      THESE WARRANTS NOR THE COMMON STOCK ISSUABLE UPON EXERCISE OF THESE WARRANTS
      HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
      OR ANY APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE SOLD, PLEDGED OR
      TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR SUCH
      SECURITIES UNDER THE ACT OR UNLESS AN EXEMPTION FROM SUCH REGISTRATION IS
      AVAILABLE, AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO
      SUCH
      EFFECT, THE SUBSTANCE OF WHICH MUST BE REASONABLY ACCEPTABLE TO THE ISSUER
      OF
      THESE SECURITIES.

     

    
      	
              380,000
                Warrants

            	
              Date
                of Original Issuance: December
                12, 2005

            

    

    

    CENTERSTAGING
      CORP.

     

    WARRANTS

     

    AMENDED
      AND RESTATED AS OF MARCH 19, 2007

     

    CenterStaging
      Corp., a Delaware corporation (the “Company”),
      certifies that, for value received, Montage Partners III,
      LLC, or
      registered assigns (the “Holder”),
      is
      the owner of Three Hundred Eighty Thousand (380,000) Warrants of the Company
      (the “Warrants”).
      Each
      Warrant entitles the Holder to purchase from the Company at any time prior
      to
      the Expiration Date (as defined below) one share of the common stock of the
      Company (the “Common
      Stock”)
      for
      $1.10 per share (the “Exercise
      Price”),
      on
      the terms and conditions hereinafter provided. The Exercise Price and the number
      of shares of Common Stock purchasable upon exercise of each Warrant are subject
      to adjustment as provided in this Certificate. 

     

    1. Vesting;
      Expiration Date; Exercise

     

    1.1 Vesting.
      The
      Warrants shall vest and become exercisable as of the date of this
      Certificate.

     

    1.2 Expiration
      Date.
      The
      Warrants shall expire on December 12, 2010 
      (the
“Expiration Date”). 

     

    Manner
      of Exercise.
      The
      Warrants are exercisable, in whole or in part, by delivery to the Company of
      the
      following (the “Exercise Documents”): (a) this Certificate; (b) a written notice
      of election to exercise the Warrants; and (c) payment of the Exercise Price
      in
      cash or by check. Within three (3) business days following receipt of the
      foregoing, the Company shall deliver to the Holder: (i) a certificate or
      certificates representing the aggregate number of shares of Common Stock
      purchased by the Holder, and (ii) if less than all of the Warrants evidenced
      by
      this Certificate are exercised, a new certificate evidencing the Warrants not
      so
      exercised. In lieu of paying cash to exercise this Warrant, the Holder may,
      by
      designating a “cashless” exercise on the Notice of Exercise Form, acquire a
      number of whole shares of the Company’s Common Stock equal to (a) the difference
      between (i) the Market Value of the Company’s Common Stock and (ii) the Exercise
      Price, multiplied by (b) the number of shares of Common Stock purchasable under
      the portion of the Warrant tendered to the Company, divided by (c) the Market
      Value of the Company’s Common Stock. Upon surrender of this Warrant Certificate
      with the annexed Notice of Exercise Form duly executed, together with payment
      of
      the Exercise Price for the shares of Common Stock purchased, the Holder shall
      be
      entitled to receive a certificate or certificates for the shares of Common
      Stock
      so purchased. For the purposes of this Section 2, “Market Value” shall be an
      amount equal to the average closing bid price of a share of Common Stock for
      the
      five (5) business days immediately preceding the Company’s receipt of the Notice
      of Exercise Form duly executed. Notwithstanding the foregoing, the Holder shall
      be entitled to exercise this Warrant on a "cashless" basis only if at the
      time of exercise there is not in effect a registration statement filed by the
      Company covering the resale of the shares of Common Stock covered by this
      Warrant.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2. Adjustments
      of Exercise Price and Number and Kind of Conversion Shares

     

    2.1 In
      the
      event that the Company shall at any time hereafter (a) pay a dividend in Common
      Stock or securities convertible into Common Stock; (b) subdivide or split its
      outstanding Common Stock; or (c) combine its outstanding Common Stock into
      a
      smaller number of shares; then the number of shares to be issued immediately
      after the occurrence of any such event shall be adjusted so that the Holder
      thereafter may receive the number of shares of Common Stock it would have owned
      immediately following such action if it had exercised the Warrants immediately
      prior to such action and the Exercise Price shall be adjusted to reflect such
      proportionate increases or decreases in the number of shares.

     

    2.2 In
      case
      of any reclassification of the outstanding shares of Common Stock (other than
      a
      change covered by Section 2.1
      hereof
      or a change which solely affects the par value of such shares) or in the case
      of
      any merger or consolidation in which the Company is not the continuing
      corporation and which results in any reclassification or capital reorganization
      of the outstanding shares, the Holder shall have the right thereafter (until
      the
      Expiration Date) to receive upon the exercise hereof, for the same aggregate
      Exercise Price payable hereunder immediately prior to such event, the kind
      and
      amount of shares of stock or other securities or property receivable upon such
      reclassification, capital reorganization, merger or consolidation, by a Holder
      of the number of shares of Common Stock obtainable upon the exercise of the
      Warrants immediately prior to such event; and if any reclassification also
      results in a change in shares covered by Section 2.1,
      then
      such adjustment shall be made pursuant to both this Section 2.2
      and
      Section 2.1
      (without
      duplication). The provisions of this Section 2.2
      shall
      similarly apply to successive reclassifications, capital reorganizations and
      mergers or consolidations, sales or other transfers.

     

    3. Reservation
      of Shares. the
      Company shall at all times reserve and keep available out of its authorized
      but
      unissued shares of Common Stock, such number of shares of Common Stock as shall
      from time to time be issuable upon exercise of the Warrants. If at any time
      the
      number of authorized but unissued shares of Common Stock shall not be sufficient
      to permit the exercise of the Warrants, the Company shall promptly seek such
      corporate action as may be necessary to increase its authorized but unissued
      shares of Common Stock to such number of shares as shall be sufficient for
      such
      purpose.

     

    4. Loss
      or Mutilation. Upon
      receipt of evidence reasonably satisfactory to the Company of the ownership
      of
      and the loss, theft, destruction or mutilation of this Certificate, and of
      indemnity reasonably satisfactory to it and if requested by the Company a bond,
      and (in the case of mutilation) upon surrender and cancellation of these
      Warrants, the Company will execute and deliver in lieu thereof a new Certificate
      of like tenor as the lost, stolen, destroyed or mutilated
      Certificate.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    5. Transfer.
      Subject
      to compliance with applicable securities laws, the Warrants are transferable
      on
      the books of the Company maintained for such purpose by the Company in person,
      or by duly authorized attorney, upon surrender of this Certificate properly
      endorsed and upon payment of any necessary transfer tax or other governmental
      charge imposed upon such transfer. If less than all of the Warrants evidenced
      by
      this Certificate are transferred, the Company will, upon transfer, execute
      and
      deliver to the Holder a new certificate evidencing the Warrants not so
      transferred. 

     

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

     

    7. Notices.
      All
      notices, requests, consents and other communications required hereunder shall
      be
      in writing and shall be effective when delivered or, if delivered by registered
      or certified mail, postage prepaid, return receipt requested, shall be effective
      on the third day following deposit in United States mail: to the Holder, at
      the
      address of the Holder set forth in the corporate records of the Company; and
      if
      addressed to the Company, at the principal executive offices of the Company,
      as
      disclosed in its most recent filings with the Securities and Exchange
      Commission, or such other address as Holder or the Company may designate in
      writing.

     

    8. No
      Rights as Shareholder. The
      Holder shall have no rights as a shareholder of the Company with respect to
      the
      shares issuable upon exercise of the Warrants until the receipt by the Company
      of all of the Exercise Documents. 

     

    
      	 	 	 
	 	CENTERSTAGING
              CORP. 
	 
 	 
 	 
 
	 	By:  	/s/
              Howard Livingston
	 	
              

              Name:
                Howard Livingston

            
	 	
              Title:   CFO

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      “A”

    NOTICE
      OF EXERCISE

     

    (To
      be signed only upon exercise of the Warrants)

     

    To: The
      Company, Inc.

     

    The
      undersigned hereby elects to purchase shares of Common Stock (the “Warrant
      Shares”)
      of
      CenterStaging Corp. (the “Company”),
      pursuant to the terms of the enclosed warrant certificate (the “Certificate”).
      The
      undersigned tenders herewith payment of the exercise price pursuant to the
      terms
      of the Certificate. 

     

    The
      undersigned hereby represents and warrants to, and agrees with, the Company
      as
      follows: 

     

    1. Holder
      is
      acquiring the Warrant Shares for its own account, for investment purposes
      only.

     

    2. Holder
      understands that an investment in the Warrant Shares involves a high degree
      of
      risk, and Holder has the financial ability to bear the economic risk of this
      investment in the Warrant Shares, including a complete loss of such investment.
      Holder has adequate means for providing for its current financial needs and
      has
      no need for liquidity with respect to this investment.

     

    3. Holder
      has such knowledge and experience in financial and business matters that it
      is
      capable of evaluating the merits and risks of an investment in the Warrant
      Shares and in protecting its own interest in connection with this
      transaction.

     

    4. Holder
      understands that the Warrant Shares have not been registered under the
      Securities Act of 1933, as amended (the “Securities
      Act”)
      or
      under any state securities laws. Holder is familiar with the provisions of
      the
      Securities Act and Rule 144 thereunder and understands that the restrictions
      on
      transfer on the Warrant Shares may result in Holder being required to hold
      the
      Warrant Shares for an indefinite period of time.

     

    5. Holder
      is
      an “accredited investor” within the meaning of Regulation D under the Securities
      Act.

     

    6. Holder
      agrees not to sell, transfer, assign, gift, create a security interest in,
      or
      otherwise dispose of, with or without consideration (collectively, “Transfer”)
      any of
      the Warrant Shares except pursuant to an effective registration statement under
      the Securities Act or an exemption from registration. As a further condition
      to
      any such Transfer, except in the event that such Transfer is made pursuant
      to an
      effective registration statement under the Securities Act, if in the reasonable
      opinion of counsel to The Company any Transfer of the Warrant Shares by the
      contemplated transferee thereof would not be exempt from the registration and
      prospectus delivery requirements of the Securities Act, The Company may require
      the contemplated transferee to furnish The Company with an investment letter
      setting forth such information and agreements as may be reasonably requested
      by
      The Company to ensure compliance by such transferee with the Securities
      Act.

     

    
      
        
        

      

      
         

        
          

        

      

      
        
        

      

    

     

    Each
      certificate evidencing the Warrant Shares will bear the following
      legend:

     

    “THE
      SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
      SECURITIES ACT OF 1933 (THE “ACT”) OR ANY APPLICABLE STATE SECURITIES LAWS AND
      MAY NOT BE EXERCISED, SOLD, PLEDGED OR TRANSFERRED IN THE ABSENCE OF AN
      EFFECTIVE REGISTRATION STATEMENT FOR SUCH SECURITIES UNDER THE ACT OR UNLESS
      AN
      EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE.

     

    

    
      	Number
              of Warrants Exercised:	     
	 	 

    

     

    
      	Dated:Exhibit
      10.4

    AMENDED
      AND RESTATED REGISTRATION RIGHTS AGREEMENT

     

    This
      Amended and Restated Registration Rights Agreement (this “Agreement”)
      is
      made and entered into as of March 19, 2007, by and between CenterStaging Corp.,
      a Delaware corporation (the “Company”),
      and
      Montage Partners III, LLC, a Nevada limited liability company (“Investor”).

     

    WHEREAS,
      the Investor and the Company are parties to that certain Securities Purchase
      Agreement dated December 12, 2005 (the “Purchase
      Agreement”),
      pursuant to which, among other things, the Company issued and sold to the
      Investor: (i) that certain 6% Secured Debenture, in the principal amount of
      $500,000 (the “Debenture”)
      convertible into shares of common stock, $0.0001 par value per share of the
      Company (the “Common
      Stock”),
      at a
      conversion price of $1.50 per share; (ii) the Common Stock Purchase Warrants
      (the “Warrants”)
      to
      purchase up to 380,000 shares of Common Stock for an exercise price of $1.60
      per
      share;

     

    WHEREAS,
      the Company and the Investor are parties to that certain Registration Rights
      Agreement dated December 12, 2005 (the “Registration
      Rights Agreement”)
      which
      was entered into concurrently with the Purchase Agreement; and

     

    WHEREAS,
      the Company and the Investor have concurrently herewith entered into that
      certain Agreement pursuant to which, among other things, the Company and the
      Investor have amended and restated the Debenture and the Warrants (the
“New
      Agreement”)
      and
      the Company has issued to Investor 75,000 shares of Common Stock (the
“Additional
      Shares”).
      

     

    WHEREAS,
      the New Agreement contemplates that the Company and the Investor would amend
      and
      restate the Registration Rights Agreement, this Agreement constitutes such
      amended and restated Registration Rights Agreement; 

     

    NOW,
      THEREFORE, in consideration of the representations, warranties and agreements
      contained herein and other good and valuable consideration, the receipt and
      legal adequacy of which are hereby acknowledged by the parties, the Company
      and
      Investor hereby agree as follows:

     

    1. Definitions.

     

    As
      used
      in this Agreement, the following terms shall have the following
      meanings:

     

    “Affiliate”
means,
      with respect to any Person, any other Person that directly or indirectly
      controls or is controlled by or under common control with such Person. For
      the
      purposes of this definition, “control,”
when
      used with respect to any Person, means the possession, direct or indirect,
      of
      the power to direct or cause the direction of the management and policies of
      such Person, whether through the ownership of voting securities, by contract
      or
      otherwise; and the terms “affiliated,”
      “controlling”
and
      “controlled”
have
      meanings correlative to the foregoing.

     

    “Blackout
      Period”
shall
      have the meaning set forth in Section 3(m).

     

    “Board”
shall
      have the meaning set forth in Section 3(m).

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    “Business
      Day”
means
      any day except Saturday, Sunday and any day which is a legal holiday or a day
      on
      which banking institutions in the state of California generally are authorized
      or required by law or other government actions to close.

     

    “Commission”
means
      the Securities and Exchange Commission.

     

    “Common
      Shares”
means
      the Additional Shares, the Warrant Shares, the Conversion Shares, and any shares
      issued in respect of such Additional Shares, Warrant Shares or Conversion Shares
      as a result of any stock split, stock dividend, recapitalization or similar
      event with respect to such Shares and any other securities issued in exchange
      of
      or replacement of such Shares. 

     

    “Common
      Stock”
means
      the Company’s Common Stock, $0.0001 par value.

     

    “Conversion
      Shares”
means
      the shares of Common Stock issued or issuable upon conversion of the
      Debenture.

     

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

     

    “Holder”
means,
      collectively, each holder from time to time of Registrable Securities including,
      without limitation, Investor and its assignees. To the extent this Agreement
      refers to an election, consent, waiver, request or approval of or by the Holder,
      such reference shall mean an election, consent, waiver, request or approval
      by
      the holders of a majority in interest of the then-outstanding Registrable
      Securities (on an as exercised basis).

     

    “Indemnified
      Party”
shall
      have the meaning set forth in Section 4(c).

     

    “Indemnifying
      Party”
shall
      have the meaning set forth in Section 4(c).

     

    “Losses”
shall
      have the meaning set forth in Section 4(a).

     

    “NASDAQ”
shall
      mean the NASDAQ Stock Market.

     

    “Person”
means
      an individual or a corporation, partnership, trust, incorporated or
      unincorporated association, joint venture, limited liability company, joint
      stock company, government (or an agency or political subdivision thereof) or
      other entity of any kind.

     

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

     

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

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    “Registrable
      Securities”
means
      the Common Shares until, in the case of any of the Common Shares (a) a
      Registration Statement covering such Common Shares has been declared effective
      by the Commission and continues to be effective, or (b) such Common Shares
      are sold in compliance with Rule 144 or may be sold pursuant to
      Rule 144(k), after which time such Common Shares shall not be considered
      Registrable Securities.

     

    “Registration
      Statement”
means
      the registration statement, including the Prospectus, amendments and supplements
      to such registration statement or Prospectus, including pre- and post-effective
      amendments, all exhibits thereto, and all material incorporated by reference
      in
      such registration statement, for the Shares (other than a registration statement
      on Form S-4 or Form S-8, or their successors, or any registration statement
      covering only securities proposed to be issued in exchange for securities or
      assets of another entity).

     

    “Rule 144”
means
      Rule 144 promulgated by the Commission pursuant to the Securities Act, as
      such Rule may be amended from time to time, or any similar rule or regulation
      hereafter adopted by the Commission having substantially the same effect as
      such
      Rule.

     

    “Rule 158”
means
      Rule 158 promulgated by the Commission pursuant to the Securities Act, as
      such Rule may be amended from time to time, or any similar rule or regulation
      hereafter adopted by the Commission having substantially the same effect as
      such
      Rule.

     

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

     

    “Securities
      Act”
means
      the Securities Act of 1933, as amended.

     

    “Special
      Counsel”
means
      an attorney selected by and acting as special counsel to Holder.

     

    “Warrant
      Shares”
means
      the shares of Common Stock issued or issuable upon exercise of the
      Warrants.

     

    2. Registration.

     

    (a) Piggyback
      Registration.

     

    (i) Piggyback
      Registration.
      If at
      any time on or after the date of this Agreement the Company proposes to file
      a
      Registration Statement under the Securities Act with respect to an offering
      for
      cash of equity securities, or securities or other obligations exercisable or
      exchangeable for, or convertible into, equity securities, by the Company for
      its
      own account or for stockholders of the Company for their account, then the
      Company shall (a) give written notice of such proposed filing to the Investors
      as soon as practicable but in no event less than 10 days before the anticipated
      filing date, which notice shall describe the amount and type of securities
      to be
      included in such offering, the intended method(s) of distribution, and the
      name
      of the proposed managing Underwriter or Underwriters, if any, of the offering,
      and (b) include in the Registration Statement for such offering such number
      of
      shares of Registrable Securities as such Investors may request in writing within
      five days following receipt of such notice (a “Piggyback
      Registration”).
      If
      the offering involves an Underwriter or Underwriters, as a condition to
      including Registrable Securities in the Piggyback Registration, the Investor
      must enter into an underwriting agreement in customary form with the Underwriter
      or Underwriters selected for such Piggyback Registration.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    (ii) Withdrawal.
      The
      Investor may elect to withdraw its request for inclusion of Registrable
      Securities in any Piggyback Registration by giving written notice to the Company
      of such request to withdraw prior to the effectiveness of the Registration
      Statement. The Company (whether on its own determination or as the result of
      a
      withdrawal by persons making a demand pursuant to written contractual
      obligations) may withdraw a registration statement at any time prior to the
      effectiveness of the Registration Statement.

     

    (b) Payments
      by the Company.

     

    (i) If
      a
      Registration Statement is filed with the SEC after March 12, 2007 and does
      not
      include the Registrable Securities, except for exclusion of the Registrable
      Securities pursuant to Section 2(a)(ii) above, on the date of such filing (the
      “Required
      Filing Date”)
      the
      Company shall pay Investor a filing penalty (collectively “Filing
      Penalties”),
      (i)
      on the first day after the Required Filing Date, an amount equal to $10,000
      and
      (ii) on each subsequent monthly anniversary of the Filing Date, if the
      Registration Statement is not amended to include the Registrable Securities
      or
      if a new Registration Statement is not filed to include the Registrable
      Securities, on or before such date, an amount $10,000. 

     

    (ii) Filing
      Penalties will be payable to the Investor by the Company in cash or other
      immediately available funds on the date such Filing Penalty is incurred.

     

    (iii) The
      parties acknowledge that the damages which may be incurred by the Investor
      if
      the Registration Statement does not include the Registrable Securities may
      be
      difficult to ascertain. The parties agree that the Filing Penalties represent
      a
      reasonable estimate on the part of the parties, as of the date of this
      Agreement, of the amount of such damages. The payment of the Filing Penalties
      to
      the Investor shall not limit the Investor’s other rights and remedies hereunder
      or under any other document entered into in connection herewith.

     

    (iv) Notwithstanding
      the foregoing, the amounts payable by the Company pursuant to this provision
      shall not be payable to the extent any delay in the effectiveness of the
      Registration Statement occurs because of an act of, or a failure to act or
      to
      act timely by the Investor or its counsel if the Company timely forwards to
      counsel any required documents or in the event all of the Registrable Securities
      may be sold pursuant to Rule 144 or another available exemption under the
      Act.

     

    3. Registration
      Procedures; Company’s Obligations.

     

    In
      connection with the registration of the Registrable Securities, the Company
      shall:

     

    (a) Prepare
      and file with the Commission the Registration Statement on Form S-3 (or if
      the
      Company is not then eligible to register for resale the Registrable Securities
      on Form S-3 such registration shall be on another appropriate form in accordance
      with the Securities Act and the Rules promulgated thereunder) that shall include
      a description of the method or methods of distribution of the Registrable
      Securities as specified by the Holder, and use its commercially reasonable
      best
      efforts to cause the Registration Statement to become effective and remain
      effective for a period of two years from the effective date of the Registration
      Statement as provided herein; provided, however, that not less than two (2)
      Business Days prior to the filing of the Registration Statement or any related
      Prospectus or any amendment or supplement thereto (including any document that
      would be incorporated therein by reference), the Company shall (i) furnish
      to the Holder and any Special Counsel, copies of all such documents proposed
      to
      be filed, which documents (other than those incorporated by reference) will
      be
      subject to the timely review of and comment by such Special Counsel, and
      (ii) at the request of the Holder cause its officers and directors, counsel
      and independent certified public accountants to respond to such
      inquiries,
      and to
      make available for inspection by the Holder all financial and other records,
      pertinent corporate documents and properties of the Company, as
      shall
      be necessary, in the reasonable opinion of such Special Counsel, to conduct
      a
      reasonable investigation within the meaning of the Securities Act. The Company
      shall not file the Registration Statement or any such Prospectus or any
      amendments or supplements thereto to which the Holder or any Special Counsel
      shall reasonably object in writing within two (2) Business Days of their
      receipt thereof.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    (b) (i) Prepare
      and file with the Commission such amendments, including post-effective
      amendments, to the Registration Statement as may be necessary to keep the
      Registration Statement continuously effective as to the applicable Registrable
      Securities for the two-year period from the effective date of the Registration
      Statement; (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 (or any similar provisions then in force)
      promulgated under the Securities Act; (iii) respond promptly to any
      comments received from the Commission with respect to the Registration Statement
      or any amendment thereto and promptly provide the Holder true and complete
      copies of all correspondence from and to the Commission relating to the
      Registration Statement; and (iv) comply in all material respects with the
      provisions of the Securities Act and the Exchange Act with respect to the
      disposition of all Registrable Securities covered by the Registration Statement
      during the applicable period in accordance with the intended methods of
      disposition by the Holder set forth in the Registration Statement as so amended
      or in such Prospectus as so supplemented.

     

    (c) Notify
      the Holder of Registrable Securities to be sold and any Special Counsel promptly
      (and, in the case of (i)(A) below, not less than two (2) Business Days
      prior to such filing and, in the case of (i)(C) below, no later than the first
      Business Day following the date on which the Registration Statement becomes
      effective) and (if requested by any such Person) confirm such notice in writing
      no later than two (2) Business Days following the day (i)(A) when a
      Prospectus or any Prospectus supplement or post-effective amendment to the
      Registration Statement is proposed to be filed, (B) when the Commission
      notifies the Company whether there will be a “review” of such Registration
      Statement and whenever the Commission comments in writing on such Registration
      Statement, and (C) with respect to the Registration Statement or any
      post-effective amendment, when the same has become effective; (ii) of any
      request by the Commission or any other Federal or state governmental authority
      for amendments or supplements to the Registration Statement or Prospectus or
      for
      additional information; (iii) of the issuance by the Commission of any stop
      order suspending the effectiveness of the Registration Statement covering any
      or
      all of the Registrable Securities or the initiation of any Proceedings for
      that
      purpose; (iv) of the receipt by the Company of any notification with
      respect to the suspension of the qualification or exemption from qualification
      of any of the Registrable Securities for sale in any jurisdiction, or the
      initiation or threatening of any Proceeding for such purpose; and (v) of
      the occurrence of any event that makes any statement made in the 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 the Registration Statement, Prospectus or other
      documents so that, in the case of the 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 the light of the circumstances under which
      they
      were made, not misleading.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    The
      Company shall promptly furnish to the Special Counsel, without charge,
      (i) any correspondence from the Commission or the Commission’s staff to the
      Company or its representatives relating to any Registration Statement, and
      (ii) promptly after the same is prepared and filed with the Commission, a
      copy of any written response to the correspondence received from the
      Commission.

     

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

     

    (e) If
      requested by the Holder, (i) promptly incorporate in a Prospectus
      supplement or post-effective amendment to the Registration Statement such
      information as the Company reasonably agrees should be included therein, and
      (ii) make all required filings of such Prospectus supplement or such
      post-effective amendment as soon as practicable after the Company has received
      notification of the matters to be incorporated in such Prospectus supplement
      or
      post-effective amendment.

     

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

     

    (g) Promptly
      deliver to the Holder and any Special Counsel, without charge, as many copies
      of
      the Registration Statement, Prospectus or Prospectuses (including each form
      of
      prospectus) and each amendment or supplement thereto as such Persons may
      reasonably request; and the Company hereby consents to the use of such
      Prospectus and each amendment or supplement thereto by the selling Holder in
      connection with the offering and sale of the Registrable Securities covered
      by
      such Prospectus and any amendment or supplement thereto.

     

    (h) Prior
      to
      any public offering of Registrable Securities, use its commercially reasonable
      best efforts to register or qualify or cooperate with the selling Holder and
      any
      Special Counsel in connection with the registration or qualification (or
      exemption from such registration or qualification) of such Registrable
      Securities for offer and sale under the securities or Blue Sky laws of such
      jurisdictions within the United States as the Holder reasonably requests in
      writing, to keep each such registration or qualification (or exemption
      therefrom) effective during the two-year period from the effective date of
      the
      Registration Statement and to do any and all other acts or things necessary
      or
      advisable to enable the disposition in such jurisdictions of the Registrable
      Securities covered by the Registration Statement; provided, however, that the
      Company shall not be required to qualify generally to do business in any
      jurisdiction where it is not then so qualified or to take any action that would
      subject it to general service of process in any such jurisdiction where it
      is
      not then so subject or subject the Company to any tax in any such jurisdiction
      where it is not then so subject.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    (i) Cooperate
      with the Holder to facilitate the timely preparation and delivery of
      certificates representing Registrable Securities to be sold pursuant to the
      Registration Statement and to enable such Registrable Securities to be in such
      denominations and registered in such names as the Holder may request at least
      two (2) Business Days prior to any sale of Registrable
      Securities.

     

    (j) Upon
      the
      occurrence of any event contemplated by Section 3(c)(v), promptly prepare a
      supplement or amendment, including a post-effective amendment, to the
      Registration Statement or a supplement to the related Prospectus or any document
      incorporated or deemed to be incorporated therein by reference, and file any
      other required document so that, as thereafter delivered, neither the
      Registration Statement nor such Prospectus will contain an untrue statement
      of a
      material fact or omit to state a material fact required to be stated therein
      or
      necessary to make the statements therein, in the light of the circumstances
      under which they were made, not misleading.

     

    (k) Cause
      all
      Registrable Securities relating to such Registration Statement to be quoted
      by
      NASDAQ or any other securities exchange, quotation system, market or
      over-the-counter bulletin board, if any, on which the same securities issued
      by
      the Company are then listed.

     

    (l) Comply
      in
      all material respects with all applicable rules and regulations of the
      Commission and make generally available to its security holders earning
      statements satisfying the provisions of Section 11(a) of the Securities Act
      and Rule 158 not later than forty-five (45) days after the end of any
      twelve (12) month period (or ninety (90) days after the end of any twelve (12)
      month period if such period is a fiscal year) commencing on the first day of
      the
      first fiscal quarter of the Company after the effective date of the Registration
      Statement, which statement shall conform to the requirements of
      Rule 158.

     

    (m) If
      (i) there is material non-public information regarding the Company which
      the Company’s Board of Directors (the “Board”)
      reasonably determines not to be in the Company’s best interest to disclose and
      which the Company is not otherwise required to disclose, or (ii) there is a
      significant business opportunity (including, but not limited to, the acquisition
      or disposition of assets (other than in the ordinary course of business) or
      any
      merger, consolidation, tender offer or other similar transaction) available
      to
      the Company which the Board reasonably determines not to be in the Company’s
      best interest to disclose and which the Company would be required to disclose
      under the Registration Statement, then the Company may suspend effectiveness
      of
      the Registration Statement and suspend the sale of Registrable Securities under
      the Registration Statement one (1) time every three (3) months or
      three (3) times in any twelve month period, provided that the Company may
      not suspend its obligation for more than sixty (60) days in the aggregate in
      any
      twelve month period (each, a “Blackout
      Period”);
      provided,
      however,
      that no
      such suspension shall be permitted for more than twenty (20) consecutive days,
      arising out of the same set of facts, circumstances or transactions, and that
      there shall be at least two business days between each Blackout
      Period.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    (n) Within
      two (2) Business Days after the Registration Statement which includes the
      Registrable Securities is ordered effective by the Commission, the Company
      shall
      deliver to the transfer agent for such Registrable Securities (with copies
      to
      the Holder whose Registrable Securities are included in such Registration
      Statement) confirmation that the Registration Statement has been declared
      effective by the Commission.

     

    4. Registration
      Procedures; Holder’s Obligations

     

    In
      connection with the registration of the Registrable Securities, the Holder
      shall:

     

    (a) If
      the
      Registration Statement refers to the Holder by name or otherwise as the holder
      of any securities of the Company, have the right to require (if such reference
      to the Holder by name or otherwise is not required by the Securities Act or
      any
      similar federal statute then in force) the deletion of the reference to the
      Holder in any amendment or supplement to the Registration Statement filed or
      prepared subsequent to the time that such reference ceases to be
      required.

     

    (b) (i) not
      sell any Registrable Securities under the Registration Statement until it has
      received copies of the Prospectus as then amended or supplemented as
      contemplated in Section 3(g) and notice from the Company that such
      Registration Statement and any post-effective amendments thereto have become
      effective as contemplated by Section 3(c), (ii) comply with the
      prospectus delivery requirements of the Securities Act as applicable to it
      in
      connection with sales of Registrable Securities pursuant to the Registration
      Statement, and (iii) furnish to the Company information regarding such
      Holder and the distribution of such Registrable Securities as is required by
      law
      to be disclosed in the Registration Statement, and the Company may exclude
      from
      such registration the Registrable Securities of the Holder if it fails to
      furnish such information within a reasonable time prior to the filing of each
      Registration Statement, supplemented Prospectus and/or amended Registration
      Statement.

     

    (c) upon
      receipt of a notice from the Company of the occurrence of any event of the
      kind
      described in Section 3(c)(ii), 3(c)(iii), 3(c)(iv), 3(c)(v) or 3(m),
      forthwith discontinue disposition of such Registrable Securities under the
      Registration Statement until the Holder’s receipt of the copies of the
      supplemented Prospectus and/or amended Registration Statement contemplated
      by
      Section 3(j), or until it is advised in writing by the Company that the use
      of the applicable Prospectus may be resumed, and, in either case, has received
      copies of any additional or supplemental filings that are incorporated or deemed
      to be incorporated by reference in such Prospectus or Registration
      Statement.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    5. Registration
      Expenses

     

    All
      reasonable fees and expenses incident to the performance of or compliance with
      this Agreement by the Company shall be borne by the Company whether or not
      the
      Registration Statement is filed or becomes effective and whether or not any
      Registrable Securities are sold pursuant to the Registration Statement. The
      fees
      and expenses referred to in the foregoing sentence shall include, without
      limitation, the following: (i) all registration and filing fees (including,
      without limitation, fees and expenses (A) with respect to filings required
      to be made with NASDAQ and each securities exchange or other market on which
      Registrable Securities are required hereunder to be listed, (B) with
      respect to filings required to be made with the Commission, and (C) in
      compliance with state securities or Blue Sky laws); (ii) printing expenses
      (including, without limitation, expenses of printing certificates for
      Registrable Securities and of printing prospectuses if the printing of
      prospectuses is requested by the holders of a majority of the Registrable
      Securities included in the Registration Statement); (iii) messenger,
      telephone and delivery expenses incurred by the Company; (iv) fees and
      disbursements of counsel for the Company; and (v) fees and expenses of all
      other Persons retained by the Company in connection with the consummation of
      the
      transactions contemplated by this Agreement, including, without limitation,
      the
      Company’s independent public accountants (including the expenses of any comfort
      letters or costs associated with the delivery by independent public accountants
      of a comfort letter or comfort letters). In addition, the Company shall be
      responsible for all of its internal expenses incurred in connection with the
      consummation of the transactions contemplated by this Agreement (including,
      without limitation, all salaries and expenses of its officers and employees
      performing legal or accounting duties), the expense of any annual audit, and
      the
      fees and expenses incurred in connection with the listing of the Registrable
      Securities on any securities exchange as required hereunder. The
      Company shall not be responsible for the payment of any commissions or other
      expenses incurred by the Holder in connection with their sales of Registrable
      Securities or for the fees of any Special Counsel.

     

    6. Indemnification

     

    (a) Indemnification
      by the Company.
      The
      Company shall, notwithstanding any termination of this Agreement, indemnify
      and
      hold harmless Investor, its permitted assignees, officers, directors, agents,
      brokers (including brokers who offer and sell Registrable Securities as
      principal as a result of a pledge or any failure to perform under a margin
      call
      of Common Stock), investment advisors and employees, each Person who controls
      Investor or a permitted assignee (within the meaning of Section 15 of the
      Securities Act or Section 20 of the Exchange Act) and the officers,
      directors, agents and employees of each such controlling Person, and the
      respective successors, assigns, estate and personal representatives of each
      of
      the foregoing, to the fullest extent permitted by applicable law, from and
      against any and all claims, losses, damages, liabilities, penalties, judgments,
      costs (including, without limitation, costs of investigation) and expenses
      (including, without limitation, reasonable attorneys’ fees and expenses)
      (collectively, “Losses”),
      as
      incurred, arising out of or relating to any untrue or alleged untrue statement
      of a material fact contained in the Registration Statement, any Prospectus,
      as
      supplemented or amended, if applicable, or arising out of or relating to any
      omission or alleged omission of a material fact required to be stated therein
      or
      necessary to make the statements therein (in the case of any Prospectus or
      form
      of prospectus or supplement thereto, in the light of the circumstances under
      which they were made) not misleading, except (i) to the extent, but only to
      the extent, that such untrue statements or omissions are based upon information
      regarding the Holder furnished in writing to the Company by the Holder expressly
      for use in the Registration Statement, such Prospectus or such form of
      Prospectus or in any amendment or supplement thereto, or (ii) as a result
      of the failure of the Holder to deliver a Prospectus, as amended or
      supplemented, to a purchaser in connection with an offer or sale (provided
      that
      copies of the Prospectus, as amended or supplemented, have been provided to
      the
      Holder by the Company for delivery to such purchaser). The Company shall notify
      the Holder 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. Such indemnity shall remain in full force and effect regardless
      of any investigation made by or on behalf of an Indemnified Party (as defined
      in
      Section 6(c) hereof) and shall survive the transfer of the Registrable
      Securities by the Holder.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    (b) Indemnification
      by Investor.
      Investor and its permitted assignees shall, jointly and severally, indemnify
      and
      hold harmless the Company, its directors, officers, agents and employees, each
      Person who controls the Company (within the meaning of Section 15 of the
      Securities Act and Section 20 of the Exchange Act), and the directors,
      officers, agents or employees of such controlling Persons, and the respective
      successors, assigns, estate and personal representatives of each of the
      foregoing, to the fullest extent permitted by applicable law, from and against
      any and all Losses, as incurred, arising out of or relating to any untrue or
      alleged untrue statement of a material fact contained in the Registration
      Statement, any Prospectus, as supplemented or amended, if applicable, or arising
      out of or relating to any omission or alleged omission of a material fact
      required to be stated therein or necessary to make the statements therein (in
      the case of any Prospectus or form of prospectus or supplement thereto, in
      the
      light of the circumstances under which they were made) not misleading, to the
      extent, but only to the extent, that (i) such untrue statement or omission
      is contained in or omitted from any information so furnished in writing by
      the
      Holder or the Special Counsel to the Company specifically for inclusion in
      the
      Registration Statement or such Prospectus, and (ii) such information was
      reasonably relied upon by the Company for use in the Registration Statement,
      such Prospectus or such form of prospectus or, to the extent that such
      information relates to the Holder or the Holder’s proposed method of
      distribution of Registrable Securities, was reviewed and expressly approved
      in
      writing by the Holder expressly for use in the Registration Statement, such
      Prospectus or such form of Prospectus Supplement. Notwithstanding anything
      to
      the contrary contained herein, the Holder shall be liable under this
      Section 6(b) for only that amount as does not exceed the net proceeds to
      the Holder as a result of the sale of Registrable Securities pursuant to such
      Registration Statement.

     

    (c) Conduct
      of Indemnification Proceedings.
      If any
      Proceeding shall be brought or asserted against any Person entitled to indemnity
      pursuant to Section 6(a) or 6(b) hereunder (an “Indemnified
      Party”),
      such
      Indemnified Party promptly shall 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 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 materially and adversely prejudiced
      the Indemnifying Party.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    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: (i) the Indemnifying Party has agreed in writing to pay such fees
      and expenses; or (ii) 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 (iii) 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 in writing by counsel that a conflict of interest
      would 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). 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, conditioned or delayed. No
      Indemnifying Party shall, without the prior written consent of the Indemnified
      Party, which consent shall not unreasonably be withheld, conditioned or delayed,
      effect any settlement of any pending Proceeding in respect of which any
      Indemnified Party is a party, unless such settlement includes an unconditional
      release of such Indemnified Party from all liability on claims that are the
      subject matter of such Proceeding.

     

    All
      reasonable fees and expenses of the Indemnified Party (including reasonable
      fees
      and expenses to the extent incurred in connection with investigating or
      preparing to defend such Proceeding in a manner not inconsistent with this
      Section) shall be paid to the Indemnified Party, as incurred, within ten (10)
      Business 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 or pursuant to applicable law).

     

    (d) Contribution.
      If a
      claim for indemnification under Section 6(a) or 6(b) is unavailable to an
      Indemnified Party because of a failure or refusal of a governmental authority
      to
      enforce such indemnification in accordance with its terms (by reason of public
      policy or otherwise), then each Indemnifying Party, in lieu of indemnifying
      such
      Indemnified Party, shall contribute to the amount paid or payable by such
      Indemnified Party as a result of such Losses, in such proportion as is
      appropriate to reflect the relative fault of the Indemnifying Party and
      Indemnified Party in connection with the actions, statements or omissions that
      resulted in such Losses as well as any other relevant equitable considerations.
      The relative fault of such Indemnifying Party and Indemnified Party shall be
      determined by reference to, among other things, whether any action in question,
      including any untrue or alleged untrue statement of a material fact or omission
      or alleged omission of a material fact, has been taken or made by, or relates
      to
      information supplied by, such Indemnifying Party or Indemnified Party, and
      the parties’
      relative intent, knowledge, access to information and opportunity to correct
      or
      prevent such action, statement or omission. The amount paid or payable by a
      party as a result of any Losses shall be deemed to include, subject to the
      limitations set forth in Section 6(c), any reasonable attorneys’ or other
      reasonable fees or expenses incurred by such party in connection with any
      Proceeding to the extent such party would have been indemnified for such fees
      or
      expenses if the indemnification provided for under Section 6(a) or 6(b) was
      available to such party in accordance with its terms. Notwithstanding anything
      to the contrary contained herein, the Holder shall be liable or required to
      contribute under this Section 6(d) for only that amount as does not exceed
      the net proceeds to the Holder as a result of the sale of Registrable Securities
      pursuant to the Registration Statement.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    The
      parties hereto agree that it would not be just and equitable if contribution
      pursuant to this Section 6(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. 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
      indemnity and contribution agreements contained in this Section are in addition
      to any liability that the Indemnifying Parties may have to the Indemnified
      Parties.

     

    7. Rule 144.

     

    As
      long
      as the Holder owns Registrable Securities, the Company covenants to timely
      file
      (or obtain extensions in respect thereof and file within the applicable grace
      period) all reports required to be filed by the Company after the date hereof
      pursuant to Section 13(a) or 15(d) of the Exchange Act and to promptly
      furnish the Holder with true and complete copies of all such filings. As long
      as
      the Holder owns Registrable Securities, if the Company is not required to file
      reports pursuant to Section 13(a) or 15(d) of the Exchange Act, it will
      prepare and furnish to the Holder and make publicly available in accordance
      with
      Rule 144(c) promulgated under the Securities Act annual and quarterly
      financial statements, together with a discussion and analysis of such financial
      statements in form and substance substantially similar to those that would
      otherwise be required to be included in reports required by Section 13(a)
      or 15(d) of the Exchange Act, as well as any other information required thereby,
      in the time period that such filings would have been required to have been
      made
      under the Exchange Act. The Company further covenants that it will take such
      further action as the Holder may reasonably request, all to the extent required
      from time to time to enable the Holder to sell the Common Shares without
      registration under the Securities Act within the limitation of the exemptions
      provided by Rule 144 promulgated under the Securities Act. Upon the request
      of any Holder, the Company shall deliver to such Holder a written certification
      of a duly authorized officer as to whether it has complied with such
      requirements. 

     

    8. Miscellaneous.

     

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

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    (b) No
      Inconsistent Agreements.
      Neither
      the Company nor any of its Affiliates has as of the date hereof entered into,
      nor shall the Company or any of its Affiliates, on or after the date of this
      Agreement, enter into, any agreement with respect to its securities that is
      inconsistent with the rights granted to the Holder in this Agreement or
      otherwise conflicts with the provisions hereof. Without limiting the generality
      of the foregoing, without the written consent of the Holder, the Company shall
      not grant to any Person the right to request the Company to register any
      securities of the Company under the Securities Act if the rights so granted
      are
      inconsistent with the rights granted to the Holder set forth herein, or
      otherwise prevent the Company with complying with all of its obligations
      hereunder.

     

    (c) Governing
      Law.
      All
      questions concerning the construction, validity, enforcement and interpretation
      of this Agreement shall be governed by and construed and enforced in accordance
      with the internal laws of the State of California, without regard to the
      principles of conflicts of law thereof. Each party agrees that all legal
      proceedings concerning this Agreement shall be commenced in the state and
      federal courts sitting in the City of Los Angeles, California (the
“Los Angeles
      Courts”).
      Each
      party hereto hereby irrevocably submits to the exclusive jurisdiction of the
      Los Angeles Courts for the adjudication of any dispute with respect to this
      Agreement, and hereby irrevocably waives, and agrees not to assert in any suit,
      action or proceeding, any claim that it is not personally subject to the
      jurisdiction of any such court, or such Los Angeles Courts are improper or
      inconvenient venue for such proceeding. Each party hereto hereby irrevocably
      waives, to the fullest extent permitted by applicable law, any and all right
      to
      trial by jury in any legal proceeding arising out of or relating to this
      Agreement.

     

    (d) Amendments
      and Waivers.
      The
      provisions of this Agreement, including the provisions of this sentence, may
      not
      be amended, modified or supplemented, and waivers or consents to departures
      from
      the provisions hereof may not be given, unless the same shall be in writing
      and
      signed by the Company and Investor.

     

    (e) Notices.
      Any and
      all notices or other communications or deliveries required or permitted to
      be
      provided hereunder shall be in writing and shall be deemed given and effective
      on the earlier of (i) the date of transmission, if such notice or
      communication is delivered via facsimile at the facsimile telephone number
      specified for notice prior to 5:00 p.m., Pacific Time, on a Business Day,
      (ii) the first Business Day after the date of transmission, if such notice
      or communication is delivered via facsimile at the facsimile telephone number
      specified for notice later than 5:00 p.m., Pacific Time, on any date and earlier
      than 11:59 p.m., Pacific Time, on such date, (iii) the Business Day
      following the date of mailing, if sent by nationally recognized overnight
      courier service, or (iv) actual receipt by the party to whom such notice is
      required to be given. 

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    
      	 	(i)	
              if
                to the Company:

               

              CenterStaging
                Corp.

              3407
                Winona Avenue

              Burbank,
                California 91504

              Attention:
                Chief Financial Officer

              Telecopier:
                (818)
                848-4016

              Telephone:
                (818) 559-4333

            
	 	 	 
	 	with a copy
              to:
	 	 	 
	 	 	
              Troy
                & Gould Professional
                Corporation

              1801
                Century Park
                East, 16th
                Floor

              Los Angeles,
                California
                90067-2367

              Attention:
                Alan
                B. Spatz, Esq.

              Telecopier:
                (310)
                201-4746

              Telephone:
                (310)
                553-4441

            
	 	 	 
	 	(ii) 	
              if
                to Montage Partners III, LLC:

              1875
                Century Park East, Suite 700

              Los
                Angeles, California 90067

              Attention:
                Michael S. Rosenblum

              Telecopier:
                310-286-3010

              Telephone:
                310-286-2100

            

    

    

    or
      to
      such other address or addresses or facsimile number or numbers as any such
      party
      may most recently have designated in writing to the other parties hereto by
      such
      notice. 

     

    (f) Successors
      and Assigns.
      This
      Agreement shall be binding upon and inure to the benefit of the parties and
      their successors and permitted assigns.

     

    (g) Assignment
      of Registration Rights.
      The
      rights of the Holder hereunder, including the right to have the Company register
      for resale Registrable Securities in accordance with the terms of this
      Agreement, shall be assignable by each Holder to any transferee of the Holder
      of
      all or a portion of
      the
      shares of Registrable Securities if: (i) the Holder agrees in writing with
      the transferee or assignee to assign such rights, and a copy of such agreement
      is furnished to the Company within a reasonable time after such assignment;
      (ii) the Company is, within a reasonable time after such transfer or
      assignment, furnished with written notice of (A) the name and address of
      such transferee or assignee, and (B) the securities with respect to which
      such registration rights are being transferred or assigned; (iii) following
      such transfer or assignment the further disposition of such securities by the
      transferee or assignees is restricted under the Securities Act and applicable
      state securities laws; and (iv) at or before the time the Company receives
      the written notice contemplated by clause (ii) of this Section, the
      transferee or assignee agrees in writing with the Company to be bound by all
      of
      the provisions of this Agreement. In addition, the Holder shall have the right
      to assign its rights hereunder to any other Person with the prior written
      consent of the Company, which consent shall not be unreasonably withheld,
      conditioned or delayed. The rights to assignment shall apply to the Holder
      (and
      to subsequent) successors and assigns. In the event of an assignment pursuant
      to
      this Section 8(g), Investor shall pay all incremental costs and expenses
      incurred by the Company in connection with filing a Registration Statement
      (or
      an amendment to the Registration Statement) to register the shares of
      Registrable Securities assigned to any assignee or transferee of
      Investor.

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

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

     

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

     

    (j) Termination.
      This
      Agreement shall terminate on the date on which all of the Registrable Securities
      may be sold without restriction pursuant to Rule 144(k) of the Securities
      Act.

     

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

     

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

     

    

    (signature
      page follows)

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

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

     

    
      	 	CENTERSTAGING
              CORP.   
	 	 
	 	 
	 	By:	/s/
              Howard Livingston 
	 	 	Name:	Howard
              Livingston
	 	 	Title:	CFO
	 	 	 	 

    

     

    
      	
            	MONTAGE
              PARTNERS III, LLC  
	 	 
	 	 
	 	By:	/s/
              Michael S. Rosenblum 
	 	 	Name:	Michael S.
              Rosenblum
	 	 	Title:	Manager

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