Document:

EX-10.10

Exhibit
10.10

REGISTRATION RIGHTS AGREEMENT

     THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of October
11, 2000, by and between Interactive Imaging Systems, Inc., a Delaware corporation (the “Company”)
and certain of the shareholders in the Company who become a party to this Agreement, each of whom
will acquire Common Stock in the Company on or after October 11, 2000, pursuant to one or more
offerings by the Company (collectively, the “Investors” and each individually, an “Investor).

RECITALS:

     A. Certain Investors and the Company have entered into Subscription Agreements pursuant to
which such Investors have purchased shares of the Company’s $.001 par value Common Stock at U.S.
$.50 per share (the “Subscription Agreements”).

     B. Each of the Investors has agreed to certain restrictions on the transfer of the Common
Stock and in return, the Company has agreed to grant certain registration rights with respect to
the shares of the Company’s Common Stock that are issued to the Investors, subject to the terms
and conditions set forth in this Agreement.

     NOW, THEREFORE, in consideration of the foregoing recitals and the mutual promises
hereinafter set forth, the parties hereto agree as follows:

     1. TRANSFER LIMITATION

          1.1 Rationale. The Investors and the Company believe it to be in their
best interests to impose certain restrictions on the transfer or other disposition of the Common
Stock in order to provide for continuity in the control and management of the Company and to
prevent the Common Stock from becoming owned by persons or entities whose purposes and interests
would not be in the best interests of the Company, its business and the shareholders of the
Company.

          1.2 Dispositions Restricted. Prior to October 11, 2002, no Investor shall
make or suffer to be made any sale, gift, pledge, mortgage, encumbrance, distribution, transfer,
assignment, hypothecation or disposition of any kind (a “Disposition”) of any of his shares of
Common Stock without first obtaining the consent of the Board of Directors of the Company; except
that no such consent shall be required in the case of a Disposition to another then current
shareholder of the Company. The Company shall not suffer or permit any Disposition, except as may
be expressly permitted under this Agreement. The foregoing restrictions on Dispositions shall
automatically terminate on the earlier to occur of: (a) October 11, 2002; (b) the closing of the
first public offering by the Company of shares of Common Stock of the Company registered under the
Securities Act of 1933, as amended; or (c) the closing of the sale of the majority of the
Company’s Common Stock or assets to a third party.

          1.3 Legend. During the term of the foregoing restrictions on Dispositions,
there shall be placed upon every certificate representing the Common Stock the following legend:

This certificate and the shares represented hereby are subject to,
and transfer of such shares is restricted by, the provisions of an
agreement among the issuing Company and

 

certain of its shareholders dated as of October 11, 2000, and any
amendments thereto, a copy of which agreement is on file at the
principal office of the Company.

Upon expiration of the foregoing restrictions on Dispositions, each Investor may request the
Company to issue a new certificate representing the Common Stock without the foregoing legend.

     2. REGISTRATION RIGHTS

          2.1 Certain Definitions. For purposes of this Agreement:

               (a) Registration. The terms “register”, “registered”, and “registration” refer to a
registration effected by preparing and filing a registration statement in compliance with the
Securities Act of 1933, as amended (the “Securities Act”), including Regulation S-B thereunder, if
available, and the declaration or ordering of effectiveness of such registration statement.

               (b) Registrable Securities. The term “Registrable Securities” means: (1) all the
shares of Common Stock of the Company held by the Investors and (2) any 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, all such shares of Common Stock described in clause (1); excluding in
all cases, however, any Registrable Securities sold by a person in a transaction which violates
Section 1 or in which rights under this Section 2 are not assigned in accordance with Section 3 of
this Agreement.

               (c) Registrable Securities Then Outstanding. The number of shares of “Registrable
Securities then outstanding” shall mean the number of shares of Common Stock which are Registrable
Securities and are then issued and outstanding.

               (d) Holder. The term “Holder” means any person owning of record Registrable Securities
that have not been sold to the public or sold pursuant to Rule 144 promulgated under the Securities
Act or any assignee of record of such Registrable Securities to whom rights under this Section 2
have been duly assigned in accordance with this Agreement.

               (e) SEC. The term “SEC” or “Commission” means the U.S. Securities and Exchange Commission.

          2.2 Demand for Registration. If, at any one time after October 11, 2002 (i)
the Company shall not then have its Common Stock listed for trading on a recognized stock
market or exchange in the United States or Canada or on the OTC Bulletin Board, and (ii) the
Company shall receive a written request from Holders of Registrable Securities requesting that the
Company file a registration statement covering Registrable Securities owned by them and
constituting at least a majority of the Registrable Securities then outstanding, then the Company
shall (x) give all other Holders written notice of such request, and (y) use commercially
reasonable efforts to file, within one hundred twenty (120) days of receipt of such request, a
registration statement covering all Registrable Securities which the Holders request to be
registered prior to the date of the initial filing of the registration statement.

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          2.3 Obligations of the Company. Whenever required to effect the registration of any
Registrable Securities under this Agreement, the Company shall, as expeditiously as commercially
reasonable:

               (a) Furnish to the Holders and to the underwriters, if any, such number of copies of the
registration statement, prospectus, and preliminary prospectus, in conformity with the requirements
of the Securities Act, and such other documents as they may reasonably request in order to
facilitate the disposition of the Registrable Securities owned by them that are included in such
registration.

               (b) Use its commercially reasonable efforts to register and qualify the securities covered by
such registration statement under such other securities or Blue Sky laws of such jurisdictions as
shall be reasonably requested by the Holders, provided that the Company shall not be required in
connection therewith or as a condition thereto to qualify to do business or to file a general
consent to service of process in any such states or jurisdictions.

               (c) Notify each Holder of Registrable Securities covered by such registration statement at any
time when a prospectus relating thereto is required to be delivered under the Securities Act of the
happening of any event as a result of which the prospectus included in such registration statement,
as then in effect, includes an untrue statement of a material fact or omits to state a material
fact required to be stated therein or necessary to make the statements therein not misleading in
the light of the circumstances then existing.

               (d) Use its reasonable best efforts either to (i) cause all the Registrable Securities covered
by any registration statement to be listed on a recognized stock market or exchange in the United
States or in Canada, if the listing of such Registrable Securities is then permitted under the
rules of such market or exchange, or (ii) secure the quotation of the Registrable Securities on the
OTC Bulletin Board.

          2.4 Furnish Information. It shall be a condition precedent to the obligations of the
Company to take any action pursuant to Sections 2.2 and 2.3 that the selling Holders shall furnish
to the Company such information regarding themselves, the Registrable Securities held by them, and
the intended method of disposition of such securities as shall be reasonably required to timely
effect the registration of their Registrable Securities.

          2.5 Delay of Registration. No Holder shall have any right to obtain or seek an
injunction restraining or otherwise delaying any such registration as the result of any controversy
that might arise with respect to the interpretation or implementation of this Section 2.

          2.6 Indemnification. With respect to Registrable Securities that are
included in a registration statement under Section 2.2:

               (a) By the Company. To the extent permitted by law, the Company will indemnify and
hold harmless each Holder, the partners, officers, directors of each Holder, any underwriter (as
defined in the Securities Act) for such Holder and each person, if any, who controls such Holder or
underwriter within the meaning of the Securities Act or the Securities Exchange Act of 1934, as
amended (the “1934 Act”), against any expenses, losses, claims, damages, or liabilities (joint or
several) (or actions in respect thereof) to which they may become subject under the Securities Act,
the 1934 Act or other federal or state law, insofar as such expenses, losses, claims, damages, or

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liabilities (or actions in respect thereof) arise out of or are based upon any of the
following statements, omissions or violations (collectively a “Violation”):

                    (i) any untrue statement or alleged untrue statement of a material fact contained in such
registration statement, preliminary prospectus, final prospectus, offering circular or other
document contained therein or any amendments or supplements thereto;

                    (ii) the omission or alleged omission to state therein a material fact required to be stated
therein, or necessary to make the statements therein not misleading, or

                    (iii) any violation or alleged violation by the Company of the Securities Act, the 1934 Act,
any federal or state securities law or any rule or regulation promulgated under the Securities
Act, the 1934 Act or any federal or state securities law in connection with the offering covered
by such registration statement; and the Company will reimburse each such Holder, partner, officer,
director, underwriter or controlling person for any legal or other expenses reasonably incurred by
them, as incurred, in connection with investigating, defending or settling any such loss, claim,
damage, liability or action; provided, however, that the indemnity agreement
contained in this subsection 2.6(a) shall not apply to amounts paid in settlement of any such
loss, claim, damage, liability or action if such settlement is effected without the consent of the
Company (which consent shall not be unreasonably withheld), nor shall the Company be liable in any
such case for any such loss, claim, damage, liability or action to the extent that it arises out
of or is based upon a Violation which occurs in reliance upon and in conformity with written
information furnished expressly for use in connection with such registration by such Holder or its
agent, partner, officer, director, underwriter or controlling person of such Holder.

               (b) By Selling Holders. To the extent permitted by law, each selling Holder will
indemnify and hold harmless the Company, each of its directors, each of its officers who have
signed the registration statement, each person, if any, who controls the Company within the meaning
of the Securities Act, any underwriter and any other Holder selling securities under such
registration statement or any of such other Holders partners, directors or officers or any person
who controls such Holder within the meaning of the Securities Act or the 1934 Act, against any
losses, claims, damages or liabilities (joint or several) to which the Company or any such
director, officer, controlling person, underwriter or other such Holder, partner or director,
officer or controlling person of such other Holder may become subject under the Securities Act, the
1934 Act or other federal or state law, insofar as such losses, claims, damages or liabilities (or
actions in respect thereto) arise out of or are based upon any Violation, in each case to the
extent (and only to the extent) that such Violation occurs in reliance upon and in conformity with
written information furnished by such Holder or its agent expressly for use in connection with such
registration; and each such Holder will reimburse any legal or other expenses reasonably incurred
by the Company or any such director, officer, controlling person, underwriter or other Holder,
partner, officer, director or controlling person of such other Holder in connection with
investigating, defending or settling any such loss, claim, damage, liability or action;
provided, however, that the indemnity agreement contained in this subsection 2.6(b)
shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action
if such settlement is effected without the consent of the

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Holder, which consent shall not be unreasonably withheld; and provided,
further, that the total amounts payable in indemnity by a Holder under this Section 2.6(b)
in respect of any Violation shall not exceed the net proceeds received by such Holder in the
registered offering out of which such Violation arises.

               (c) Notice. Promptly after receipt by an indemnified party under this Section 2.6 of
notice of the commencement of any action (including any governmental action), such indemnified
party will, if a claim in respect thereof is to be made against any indemnifying party under this
Section 2.6, deliver to the indemnifying party a written notice of the commencement thereof and the
indemnifying party shall have the right to participate in, and, to the extent the indemnifying
party so desires, jointly with any other indemnifying party similarly noticed, to assume the
defense thereof with counsel mutually satisfactory to the parties; provided,
however, that an indemnified party shall have the right to retain its own counsel, with the
fees and expenses to be paid by the indemnifying party, if representation of such indemnified party
by the counsel retained by the indemnifying party would be inappropriate due to actual or potential
conflict of interests between such indemnified party and any other party represented by such
counsel in such proceeding. The failure to deliver written notice to the indemnifying party within
a reasonable time of the commencement of any such action, if prejudicial to its ability to defend
such action, shall relieve such indemnifying party of any liability to the indemnified party under
this Section 2.6, but the omission so to deliver written notice to the indemnifying party will not
relieve it of any liability that it may have to any indemnified party otherwise than under this
Section 2.6.

               (d) Defect Eliminated in Final Prospectus. The foregoing indemnity agreements of the
Company and Holders are subject to the condition that, insofar as they relate to any Violation made
in a preliminary prospectus but which Violation is eliminated or remedied in the amended prospectus
on file with the SEC at the time the registration statement in question becomes effective or the
amended prospectus filed with the SEC pursuant to SEC Rule 424(b) (the “Final Prospectus”), such
indemnity agreement shall not inure to the benefit of any person if a copy of the Final Prospectus
was furnished to the indemnified party and was not furnished to the person asserting the loss,
liability, claim or damage at or prior to the time such action is required by the Securities Act.

               (e) Contribution. In order to provide for just and equitable contribution to joint
liability under the Securities Act in any case in which either (i) any Holder exercising rights
under this Agreement, or any controlling person of any such Holder, makes a claim for
indemnification pursuant to this Section 2.6 but it is judicially determined (by the entry of a
final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal
or the denial of the last right of appeal) that such indemnification may not be enforced in such
case notwithstanding the fact that this Section 2.6 provides for indemnification in such case, or
(ii) contribution under the Securities Act may be required on the part of any such selling Holder
or any such controlling person in circumstances for which indemnification is provided under this
Section 2.6; then, and in each such case, the Company and such Holder will contribute to the
aggregate losses, claims, damages or liabilities to which they may be subject (after contribution
from others) in such proportion as is appropriate to reflect the relative fault of the
indemnifying party on the one hand and of the indemnified party on the other in connection with
the statements or omissions that resulted in such expense, loss, claim, damage or liability in
such proportion as is appropriate to reflect the relative fault of each such party in connection
with such statements or omissions as well as any other relevant considerations; provided,
however, that, in any such case, (A) the total amounts payable in contribution by any
Holder under this

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Section 2.6(e) shall not exceed the net proceeds received by such Holder in the registered
offering out of which such responsibility arises; and (B) no person or entity guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to
contribution from any person or entity who was not guilty of such fraudulent misrepresentation.

               (f) Survival. The obligations of the Company and Holders under this Section 2.6 shall
survive the completion of any offering of Registrable Securities in a registration statement, and
otherwise.

          2.7 Market Stand-Off’ Agreement. Each Holder hereby agrees that it shall not, to the
extent requested by the Company or an underwriter of securities of the Company, sell or otherwise
transfer or dispose of any Registrable Securities or any shares of capital stock of the Company
then owned by such Holder (other than to donees or partners of the Holder who agree to be
similarly bound) for up to one hundred eighty (180) days following the effective date of any
registration statement (other than a registration statement relating to any employee benefit plan
or to any acquisition, merger, consolidation or other corporate reorganization) of the Company
filed under the Securities Act (whether filed pursuant to the provisions of this Agreement or
otherwise); provided, however, that:

               (a) such agreement shall not apply to shares of capital stock of the Company sold pursuant to
such registration statement;

               (b) all executive officers and directors of the Company then holding Common Stock of the
Company enter into a similar agreement, and any other stockholder of the Company then-owning at
least two percent (2%) of the shares of the Company’s Common Stock on a fully-diluted basis, also
enters into a similar agreement; and

               (c) in an offering other than the Company’s initial public offering, such agreement shall
apply only for a period of 90 days from the effective date of the registration statement filed
under the Securities Act with respect thereto.

          In order to enforce the foregoing covenant, the Company shall have the right to place
restrictive legends on the certificates representing the shares subject to this Section and to
impose stop transfer instructions with respect to the shares of stock of each Holder (and the
shares or securities of every other person subject to the foregoing restriction) until the end of
such period.

          2.8 Rule 144 Reporting. With a view to making available the benefits of
certain rules and regulations of the Commission which may at any time permit the sale of the
Registrable Securities to the public without registration, after such time as a public market
exists for the Common Stock of the Company, the Company agrees to:

               (a) Make and keep public information available, as those terms are understood and defined in
Rule 144 under the Securities Act, at all times after the effective date of the first registration
under the Securities Act filed by the Company for an offering of its securities to the general
public;

               (b) File with the Commission in a timely manner all reports and other documents required of
the Company under the Securities Act and the 1934 Act (at any time after it has become subject to
such reporting requirements); and

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               (c) So long as a Holder owns any Registrable Securities, to furnish
to the Holder forthwith upon request a written statement by the Company as to its compliance
with the reporting requirements of said Rule 144 (at any time after 90 days after the effective
date of the first registration statement filed by the Company for an offering of its securities to
the general public), of the Securities Act and the 1934 Act (at any time after it has become
subject to the reporting requirements of the 1934 Act), a copy of the most recent annual or
quarterly report of the Company, and such other reports and documents of the Company as a Holder
may reasonably request in availing itself of any rule or regulation of the Commission allowing a
Holder to sell any such securities without registration (at any time after the Company has become
subject to the reporting requirements of the 1934 Act).

          2.9 Expenses of Registration. The Company shall bear and pay all expenses, other than
underwriting discounts and commissions, incurred in connection with registrations, filings or
qualifications pursuant to Sections 2.2 and 2.3, including (without limitation) all registration,
filing and qualification fees, printers’ and accounting fees, fees and disbursements of counsel
for the Company and the reasonable fees and disbursements of one counsel for the selling Holders
selected by those Holders with a majority of the Registrable Securities included in the
registration.

     3. ASSIGNMENT

     Notwithstanding anything herein to any the contrary, the registration rights of a Holder under
Section 2 hereof may be assigned by a Holder only to a party who acquires all of the shares of
Registrable Securities of such Holder in a transaction allowed pursuant to the terms of Section 1,
if then applicable; provided, however that no party may be assigned any of the
foregoing rights unless the Company is given written notice by the assigning party at the time of
such assignment stating the name and address of the assignee and identifying the securities of the
Company as to which the rights in question are being assigned; and provided,
further that any such assignee shall receive such assigned rights subject to all the terms
and conditions of this Agreement, including without limitation the provisions of this Section 3.

     4. GENERAL PROVISIONS

          4.1 Amendment of Rights. Any provision of this Agreement may be amended and the
observance thereof may be waived (either generally or in a particular instance and either
retroactively or prospectively), only with the written consent of the Company and Holders of a
majority of all Registrable Securities then outstanding. Any amendment or waiver effected in
accordance with this Section 4.1 shall be binding upon each Holder, each permitted successor or
assignee of such Holder and the Company.

          4.2 Governing Law. The internal laws of the State of Delaware (irrespective of its
conflict of law principles) will govern the validity of this Agreement, the construction of its
terms, and the interpretation and enforcement of the rights and duties of the parties hereto.

          4.3 Severability. If any provision of this Agreement, or the application thereof, will
for any reason and to any extent be invalid or unenforceable, the remainder of this Agreement and
application of such provision to other persons or circumstances will be interpreted so as
reasonably to effect the intent of the parties hereto. The parties further agree to replace such
void or unenforceable provision of this Agreement with a valid and enforceable provision that will
achieve, to the extent possible, the economic, business and

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other purposes of the void or unenforceable provision.

          4.4 Counterparts. This Agreement may be executed in any number of counterparts, each
of which will be an original as regards any party whose signature appears thereon and all of which
together will constitute one and the same instrument. This Agreement will become binding when one
or more counterparts hereof, individually or taken together, will bear the signatures of all
parties reflected hereon as signatories. Facsimile copies of such counterparts are acceptable.

          4.5 Notices. Any notice or other communication required or permitted to be given under
this Agreement will be in writing, will be delivered personally, by registered or certified mail,
postage prepaid, by confirmed facsimile or by nationally recognized courier service, and will be
deemed given upon delivery, if delivered personally, or five days after deposit in the mails, if
mailed, or upon receipt if delivered by confirmed facsimile or nationally recognized courier
service to the following addresses:

	 	 	 	 	 
	 

	 	(i)
	 	If to Company:
	 

	 	 	 	Interactive Imaging Systems, Inc.
	 

	 	 	 	2166 Brighton-Henrietta Townline Road
	 

	 	 	 	Rochester, New York 14623
	 

	 	 	 	Facsimile: (716) 240-8003
	 

	 	 	 	Attention: Paul J. Travers, President
	 
	 	 	 	 
	 

	 	 	 	With a copy to:
	 

	 	 	 	Steven R. Gersz, Esq.
	 

	 	 	 	Underberg & Kessler LLP
	 

	 	 	 	1800 Chase Square
	 

	 	 	 	Rochester, New York 14604
	 

	 	 	 	Facsimile: (716) 258-2821
	 
	 	 	 	 
	 

	 	(ii)
	 	If to Investors:

                    To the addresses set forth on the counterpart signature pages hereto or to such other address
as a party may have furnished to the other parties in writing pursuant to this Section 4.5.

          4.6 Absence of Third Party Beneficiary Rights. No provisions of this Agreement are
intended, nor will be interpreted, to provide or create any third party beneficiary rights or any
other rights of any kind in any client, customer, affiliate, stockholder, partner or any party
hereto or any other person or entity unless specifically provided otherwise herein, and, except as
so provided, all provisions hereof will be personal solely between the parties to this Agreement.

          4.7 Entire Agreement. This Agreement constitutes the entire understanding and
agreement of the parties hereto with respect to the subject matter hereof and supersedes all prior
and contemporaneous agreements or understandings, inducements or conditions, express or implied,
written or oral, between the parties. The express terms hereof control and supersede any course of
performance or usage of the trade inconsistent with any of the terms hereof.

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     IN WITNESS WHEREOF, the parties hereto have executed this Agreement effective as of the date
and year first above written.

	 	 	 	 	 
	INTERACTIVE IMAGING SYSTEMS, INC.

	 	 
	By:

	 	/s/ Paul J. Travers	 	 
	Name:

	 	 

Paul J. Travers
	 	 
	Title:

	 	President	 	 

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Registration Rights Agreement

Counterpart Signature Page

     The undersigned, being a subscriber for shares of Common Stock in the Company, executes and
agrees to be bound by and obtain the benefits of, the Registration Rights Agreement dated as of
October 11, 2000; provided, however, that the Registration Rights Agreement shall not be effective
as to any subscriber whose subscription is not accepted by the Company.

	 	 	 
	INVESTOR:
	 	 
	 
	 	 
	Signature:
	 	 
	 

	 	 
	 
	 	 
	Print Name:
	 	 
	 

	 	 
	 
	 	 
	Address:
	 	 
	 

	 	 
	 
	 
	 	 
	 

	 	 
	 
	 
	 	 
	 

	 	 
	 
	 	 
	Date:
	 	 

- 10 -EX-10.11

Exhibit
10.11

REGISTRATION RIGHTS AGREEMENT

     THIS REGISTRATION RIGHTS AGREEMENT dated as of June ___, 2005 (the “Agreement”), is entered
into by and among Icuiti Corporation, a Delaware corporation (the “Company”), and the holders (the
“Investors”) of the Company’s capital stock and Warrants set forth on the signature page hereof.
Capitalized terms not defined herein shall have the meanings ascribed to them in the Subscription
Agreement (as hereinafter defined).

     WHEREAS, simultaneously with the execution and delivery of this Agreement, the Investors are
agreeing to purchase from the Company, pursuant to certain Subscription Agreements dated as of the
same date as the date hereof among them and the Company, (the “Subscription Agreements”) certain
Units, each consisting of one share of the Company’s Series C 6% Convertible Preferred Stock
(“Series C Preferred Stock”) that is convertible into shares of the Company’s $.001 par value
Common Stock (“Common Stock”) and eight (8) warrants (the “Warrants”), each of which entitles the
holder to purchase one share of Common Stock at a purchase price of $.01 per share; and

     WHEREAS, the Company desires to grant to the Investors the registration rights set forth
herein with respect to the shares of Common Stock issuable upon conversion of the Series C
Preferred Stock (the “Conversion Shares”), and the shares of Common Stock issuable upon exercise
of the Warrants (the “Warrant Shares”) and the shares of Common Stock issued as a dividend or
other distribution with respect to the Conversion Shares or the Warrant Shares, Escrow Shares (the
“Distribution Shares”) (all the shares of the Series C Preferred Stock, the Conversion Shares, the
Warrant Shares and the Distribution Shares, collectively and interchangeably, are referred to
herein as the “Securities”).

     NOW, THEREFORE, the parties hereto mutually agree as follows:

     1. CERTAIN DEFINITIONS

     As used herein the term “Registrable Security” means the Conversion Shares, the Warrant
Shares and the Distribution Shares, until (i) the Registration Statement (as defined below) has
been declared effective by the Securities and Exchange Commission (the “Commission”), and all
Securities have been disposed of pursuant to the Registration Statement, (ii) all Securities have
been sold under circumstances under which all of the applicable conditions of Rule 144 (“Rule
144”) (or any similar provision then in force) under the Securities Act of 1933, as amended (the
“Securities Act”) are met, or (iii) such time as, in the opinion of counsel to the Company
reasonably satisfactory to the Investors and upon delivery to the Investors of such

 

 

executed opinion, all Securities may be sold without any time, volume or manner limitations
pursuant to Rule 144 (or any similar provision then in effect). In the event of any merger,
reorganization, consolidation, recapitalization or other change in corporate structure affecting
the Common Stock, such adjustment shall be deemed to be made in the definition of “Registrable
Security” as is appropriate in order to prevent any dilution or enlargement of the rights granted
pursuant to this Agreement. As used herein the term “Holder” means any Person owning or having the
right to acquire Registrable Securities or any assignee thereof in accordance with Section 10
hereof As used herein “Trading Day” shall mean any business day on which the market on which the
Common Stock trades is open for business.

     2. RESTRICTIONS ON TRANSFER

     Each of the Investors acknowledges and understands that prior to the registration of the
Securities as provided herein, the Securities are “restricted securities” as defined in Rule 144.
Each of the Investors understands that no disposition or transfer of the Securities may be made by
any of the Investors in the absence of (i) an opinion of counsel to such Investor, in form and
substance reasonably satisfactory to the Company, that such transfer may be made without
registration under the Securities Act or (ii) such registration.

     3. COMPLIANCE WITH REPORTING REQUIREMENTS

     At any time from and after Company is required to file reports and other documents with the
Commission pursuant to Section 13 or 15(d) under the Securities Exchange Act of 1934 (the “Exchange
Act”), with a view to making available to the Investors the benefits of Rule 144 or any other
similar rule or regulation of the Commission that may at any time permit the holders of the
Securities to sell securities of the Company to the public pursuant to Rule 144, the Company agrees
to:

          (a) comply with the provisions of paragraph (c)(1) of Rule 144;

          (b) file with the Commission in a timely manner all reports and other documents required to be
filed with the Commission pursuant to Section 13 or 15(d) under the Exchange Act by companies
subject to either of such sections, irrespective of whether the Company is then subject to such
reporting requirements; and

          (c) Upon request by any Holder or the Company’s transfer agent, the Company shall provide an
opinion of counsel, which opinion shall be reasonably acceptable to the Holder and/or the Company’s
transfer agent, that such Holder has complied with the applicable conditions of Rule 144 (or any
similar provision then in force).

     4. REGISTRATION RIGHTS WITH RESPECT TO THE REGISTRABLE SECURITIES

     If, at any time any Registrable Securities are not at the time covered by any

2

 

effective Registration Statement, the Company shall determine to register under the Securities
Act of 1933, as amended (the “Securities Ace’) any of its shares of the Common Stock (other than
its initial registered offering of shares to the public, or in connection with a merger or other
business combination transaction that has been consented to in writing by holders of the Series A
Preferred Stock, or pursuant to Form S-8), it shall send to each Holder written notice of such
determination and, if within 20 days after receipt of such notice, such Holder shall so request in
writing, the Company shall its best efforts to include in such registration statement all or any
part of the Registrable Securities that such Holder requests to be registered. Notwithstanding the
foregoing, if, in connection with any offering involving an underwriting of the Common Stock to by
issued by the Company, the managing underwriter shall impose a limitation on the number of shares
of the Common Stock that may be included in any such registration statement because, in such
underwriter’s judgment, such limitation is necessary based on market conditions: (a) the Company
may exclude, to the extent so advised by the underwriters, the Registrable Securities from the
underwriting, it being understood that the Registrable Securities will be excluded from such
underwriting prior to the exclusion from such offering of any securities with respect to which
piggyback registration rights have been granted prior to the date of this Agreement. If the
underwriters do not entirely exclude the Registrable Securities from such offering, the Company
shall be obligated to include in such registration statement, with respect to the requesting
Holder, only an amount of Registrable Securities equal to the product of (i) the number of
Registrable Securities that remain available for registration after the underwriter’s cutback and
(ii) such Holder’s percentage of ownership of all the Registrable Securities then outstanding (on
an as- converted basis) (the “Registrable Percentage”). If any Holder disapproves of the terms of
any underwriting referred to in this paragraph, it may elect to withdraw therefrom by written
notice to the Company and the underwriter.

     5. COOPERATION WITH COMPANY

     Each Holder will cooperate with the Company in all respects in connection with this
Agreement, including timely supplying all information reasonably requested by the Company (which
shall include all information regarding such Holder and proposed manner of sale of the Registrable
Securities required to be disclosed in any Registration Statement) and executing and returning all
documents reasonably requested in connection with the registration and sale of the Registrable
Securities and entering into and performing its obligations under any underwriting agreement, if
the offering is an underwritten offering, in usual and customary form, with the managing
underwriter or underwriters of such underwritten offering. Nothing in this Agreement shall
obligate any Holder to consent to be named as an underwriter in any Registration Statement. The
obligation of the Company to register the Registrable Securities shall be absolute and
unconditional as to those Registrable Securities which the Commission will permit to be registered
without naming any Holder as underwriters.

3

 

     6. REGISTRATION PROCEDURES

     If and whenever and so long as the Company is required by any of the provisions of this
Agreement to effect the registration of any of the Registrable Securities under the Securities
Act, the Company shall (except as otherwise provided in this Agreement), as expeditiously as
possible, subject to the Holders’ assistance and cooperation as reasonably required with respect
to each Registration Statement:

          (a) (i) prepare and file with the Commission such amendments and supplements to the
Registration Statement and the prospectus used in connection therewith as may be necessary to keep
such Registration Statement effective and to comply with the provisions of the Securities Act with
respect to the sale or other disposition of all Registrable Securities covered by such Registration
Statement whenever any of the Holder shall desire to sell or otherwise dispose of the same
(including prospectus supplements with respect to the sales of Registrable Securities from time to
time in connection with a registration statement pursuant to Rule 415 promulgated under the
Securities Act) and (ii) take all lawful action such that each of (A) the Registration Statement
and any amendment thereto does not, when it becomes effective, 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
and (B) the prospectus forming part of the Registration Statement, and any amendment or supplement
thereto, does not at any time during the Registration Period include 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;

          (b) prior to the filing with the Commission of any Registration Statement (including any
amendments thereto) and the distribution or delivery of any prospectus (including any supplements
thereto), provide draft copies thereof to the Holders as required by Section 4(c) and reflect in
such documents all such comments as the Holders (and their counsel) reasonably may propose and at
the Holders sole cost; (ii) furnish to each of the Holders such numbers of copies of a prospectus
including a preliminary prospectus or any amendment or supplement to any prospectus, as
applicable, in conformity with the requirements of the Securities Act, and such other documents,
as any of the Holders may reasonably request in order to facilitate the public sale or other
disposition of the Registrable Securities owned by such Holder; and (iii) provide to the Holders
copies of any comments and communications from the Commission relating to the Registration
Statement, if lawful to do so;

          (c) register and qualify the Registrable Securities covered by the Registration Statement
under such other securities or blue sky laws of such jurisdictions as any of the Holders shall
reasonably request (subject to the limitations set forth in Section 4(c) above), and do any and
all other acts and things which may be reasonably necessary or advisable to enable such Holder to
consummate the public sale or other disposition in such jurisdiction of the Registrable Securities
owned by

4

 

such Holder;

          (d) list such Registrable Securities on the markets where the Common Stock of the Company is
listed as of the effective date of the Registration Statement, if the listing of such. Registrable
Securities is then permitted under the rules of such markets;

          (e) notify the Holders at any time when a prospectus relating thereto covered by the
Registration Statement is required to be delivered under the Securities Act, of the happening of
any event of which it has knowledge as a result of which the prospectus included in the
Registration Statement, as then in effect, includes an untrue statement of a material fact or
omits to state a material fact required to be stated therein or necessary to make the statements
therein not misleading in the light of the circumstances then existing, and the Company shall
prepare and file a curative amendment under Section 6(a) as quickly as reasonably possible and
during such period, the Holders shall not make any sales of Registrable Securities pursuant to the
Registration Statement;

          (f) after becoming aware of such event, notify each of the Holders who holds Registrable
Securities being sold (or, in the event of an underwritten offering, the managing underwriters) of
the issuance by the Commission of any stop order or other suspension of the effectiveness of the
Registration Statement at the earliest possible time and take all lawful action to effect the
withdrawal, rescission or removal of such stop order or other suspension;

          (g) cooperate with the Holders to facilitate the timely preparation and delivery of
certificates for the Registrable Securities to be offered pursuant to the Registration Statement
and enable such certificates for the Registrable Securities to be in such denominations or amounts,
as the case may be, as any of the Holders reasonably may request and registered in such names as
any of the Holders may request; and, within three Trading Days after a Registration Statement which
includes Registrable Securities is declared effective by the Commission, deliver and cause legal
counsel selected by the Company to deliver to the transfer agent for the Registrable Securities
(with copies to the Holders) an appropriate instruction and, to the extent necessary, an opinion of
such counsel;

          (h) take all such other lawful actions reasonably necessary to expedite and facilitate the
disposition by the Holders of their Registrable Securities in accordance with the intended methods
therefor provided in the prospectus which are customary for issuers to perform under the
circumstances;

          (i) in the event of an underwritten offering, promptly include or incorporate in a prospectus
supplement or post-effective amendment to the Registration Statement such information as the
managers reasonably agree should be included therein and to which the Company does not reasonably
object and make all required filings of such prospectus supplement or post-effective amendment as
soon as practicable after it is notified of the matters to be included or incorporated in such

5

 

prospectus supplement or post-effective amendment; and

          (j) maintain a transfer agent and registrar for the Common Stock.

     7. INDEMNIFICATION

          (a) To the maximum extent permitted by law, the Company agrees to indemnify and hold harmless
each of the Holders, each person, if any, who controls any of the Holders within the meaning of the
Securities Act, and each director, officer, shareholder, employee, agent, representative,
accountant or attorney of the foregoing (each of such indemnified parties, a
“Distribution. Investor”) against any losses, claims, damages or liabilities, joint or
several (which shall, for all purposes of this Agreement, include, but not be limited to, all
reasonable costs of defense and investigation and all reasonable attorneys’ fees and expenses), to
which the Distributing Investor may become subject, under the Securities Act or otherwise, insofar
as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are
based upon any untrue statement or alleged untrue statement of any material fact contained in any
Registration Statement, or any related final prospectus or amendment or supplement thereto, or
arise out of or are based upon the omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein not misleading; provided,
however, that the Company will not be liable in any such case to the extent, and only to the
extent, that any such loss, claim, damage or liability arises out of or is based upon an untrue
statement or alleged untrue statement or omission or alleged omission made in such Registration
Statement, preliminary prospectus, final prospectus or amendment or supplement thereto in reliance
upon, and in conformity with, written information furnished to the Company by the Distributing
Investor, its counsel, or affiliates, specifically for use in the preparation thereof or (ii) by
such Distributing Investor’s failure to deliver to the purchaser a copy of the most recent
prospectus (including any amendments or supplements thereto). This indemnity agreement will be in
addition to any liability which the Company may otherwise have.

          (b) To the maximum extent permitted by law, each Distributing Investor agrees that it will
indemnify and hold harmless the Company, and each officer and director of the Company or person,
if any, who controls the Company within the meaning of the Securities Act, against any losses,
claims, damages or liabilities (which shall, for all purposes of this Agreement, include, but not
be limited to, all reasonable costs of defense and investigation and all reasonable attorneys’
fees and expenses) to which the Company or any such officer, director or controlling person may
become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or
liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or
alleged untrue statement of any material fact contained in any Registration Statement, or any
related final prospectus or amendment or supplement thereto, or arise out of or are based upon the
omission or the alleged omission to state therein a material fact required to be stated therein or
necessary to make the

6

 

statements therein not misleading, but in each case only to the extent that such untrue
statement or alleged untrue statement or omission or alleged omission was made in such
Registration Statement, final prospectus or amendment or supplement thereto in reliance upon, and
in conformity with, written information furnished to the Company by such Distributing Investor,
its counsel or affiliates, specifically for use in the preparation thereof. This indemnity
agreement will be in addition to any liability which the Distributing Investor may otherwise have
under this Agreement. Notwithstanding anything to the contrary herein, the Distributing Investor
shall be liable under this Section 7(b) for only that amount as does not exceed the net proceeds
to such Distributing Investor as a result of the sale of Registrable Securities pursuant to the
Registration Statement.

          (c) Promptly after receipt by an indemnified party under this Section 7 of notice of the
commencement of any action against such indemnified party, such indemnified party will, if a claim
in respect thereof is to be made against the indemnifying party under this Section 7, notify the
indemnifying party in writing of the commencement thereof; but the omission so to notify the
indemnifying party will not relieve the indemnifying party from any liability which it may have to
any indemnified party except to the extent the failure of the indemnified party to provide such
written notification actually prejudices the ability of the indemnifying party to defend such
action. In case any such action is brought against any indemnified party, and it notifies the
indemnifying party of the commencement thereof, the indemnifying party will be entitled to
participate in, and, to the extent that it may wish, jointly with any other indemnifying party
similarly notified, assume the defense thereof, subject to the provisions herein stated and after
notice from the indemnifying party to such indemnified party of its election so to assume the
defense thereof, the indemnifying party will not be liable to such indemnified party under this
Section 7 for any legal or other expenses subsequently incurred by such indemnified party in
connection with the defense thereof other than reasonable costs of investigation, unless the
indemnifying party shall not pursue the action to its final conclusion. The indemnified parties
shall have the right to employ one or more separate counsel in any such action and to participate
in the defense thereof, but the fees and expenses of such counsel shall not be at the expense of
the indemnifying party if the indemnifying party has assumed the defense of the action with
counsel reasonably satisfactory to the indemnified party unless (i) the employment of such counsel
has been specifically authorized in writing by the indemnifying party, or (ii) the named parties
to any such action (including any interpleaded parties) include both the indemnified party and the
indemnifying party and the indemnified party shall have been advised by its counsel that there may
be one or more legal defenses available to the indemnifying party different from or in conflict
with any legal defenses which may be available to the indemnified party or any other indemnified
party (in which case the indemnifying party shall not have the right to assume the defense of such
action on behalf of such indemnified party, it being understood, however, that the indemnifying
party shall, in connection with any one such action or separate but substantially similar or
related actions in the same jurisdiction arising out of the same general allegations or
circumstances, be liable only

7

 

for the reasonable fees and expenses of one separate firm of attorneys for the indemnified
party, which firm shall be designated in writing by the indemnified party). No settlement of any
action against an indemnified party shall be made without the prior written consent of the
indemnified party, which consent shall not be unreasonably withheld so long as such settlement
includes a full release of claims against the indemnified party.

     All fees and expenses of the indemnified party (including reasonable costs of defense and
investigation in a manner not inconsistent with this Section and all reasonable attorneys’ fees
and expenses) shall be paid to the indemnified party, as incurred, within 10 Trading Days of
written notice thereof to the indemnifying party; 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.

     8. CONTRIBUTION

     In order to provide for just and equitable contribution under the Securities Act in any case
in which (i) the indemnified party makes a claim for indemnification pursuant to Section 7 hereof
but is judicially determined (by the entry of a formal judgment or decree by a court of competent
jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that
such indemnification may not be enforced in such case notwithstanding the fact that the express
provisions of Section 7 hereof provide for indemnification in such case, or (ii) contribution under
the Securities Act may be required on the part of any indemnified party, then the Company and the
applicable Distributing Investor shall contribute to the aggregate losses, claims, damages or
liabilities to which they may be subject (which shall, for all purposes of this Agreement, include,
but not be limited to, all reasonable costs of defense and investigation and all reasonable
attorneys’ fees and expenses), in either such case (after contribution from others) on the basis of
relative fault as well as any other relevant equitable considerations. The relative fault shall be
determined by reference to, among other things, whether the untrue or alleged untrue statement of a
material fact or the omission or alleged omission to state a material fact relates to information
supplied by the Company on the one hand or the applicable Distributing Investor on the other hand,
and the parties’ relative intent, knowledge, access to information and opportunity to correct or
prevent such statement or omission. The Company and the Distributing Investor agree that it would
not be just and equitable if contribution pursuant to this Section 8 were determined by pro rata
allocation or by any other method of allocation which does not take account of the equitable
considerations referred to in this Section 8. The amount paid or payable by an indemnified party as
a result of the losses, claims, damages or liabilities (or actions in respect thereof) referred to
above in this Section 8 shall be deemed to include any legal or other expenses reasonably incurred
by such indemnified party in connection with investigating or defending any such action or claim.
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.

8

 

     Notwithstanding any other provision of this Section 8, in no event shall (i) any of the
Distributing Investors be required to undertake liability to any person under this Section 8 for
any amounts in excess of the dollar amount of the proceeds received by such Distributing Investor
from the sale of such Distributing Investor’s Registrable Securities (after deducting any fees,
discounts and commissions applicable thereto) pursuant to any Registration Statement under which
such Registrable Securities are registered under the Securities Act and (ii) any underwriter be
required to undertake liability to any person hereunder for any amounts in excess of the aggregate
discount, commission or other compensation payable to such underwriter with respect to the
Registrable Securities underwritten by it and distributed pursuant to such Registration Statement.

     9. NOTICES

     Any notice required or permitted hereunder shall be given in writing (unless otherwise
specified herein) and shall be effective upon personal delivery, via facsimile (upon receipt of
confirmation of error-free transmission and mailing a copy of such confirmation, postage prepaid by
certified mail, return receipt requested) or two business days following deposit of such notice
with an internationally recognized courier service, with postage prepaid and addressed to each of
the other parties thereunto entitled at the following addresses, or at such other addresses as a
party may designate by five days advance written notice to each of the other parties hereto.

	 	 	 
	Company:

	 	Icuiti Corporation.
	 

	 	22166 Brighton-Henrietta Townline Road
	 

	 	Suite B
	 

	 	Rochester, New York 14634
 Attention: President
	 

	 	Tel: 585-240-8000
	 

	 	Facsimile: 585-240-8003
	with a copy to:
	 	 
	

	 	Boylan, Brown, Code, Vigdor & Wilson, LLP
	 

	 	2400 Chase Squire
	 

	 	Rochester, NY 14604
	 

	 	Attention: Robert F. Mechur, Esq.
	 

	 	Tel: 585-232-5300
	 

	 	Facsimile: 585-238-9022
	 
	 	 
	Investors:

	 	At the address and facsimile set forth on the signature page hereof

9

 

     10. ASSIGNMENT

     The registration rights granted to any Holder under this Agreement may be transferred or
assigned provided the transferee is bound by the terms of this Agreement and the Company is given
written notice of such transfer or assignment.

     11. ADDITIONAL COVENANTS OF THE COMPANY

     For so long as it shall be required to maintain the effectiveness of the Registration
Statement, it shall file all reports and information required to be filed by it with the
Commission in a timely manner and take all such other action so as to maintain such eligibility
for the use of the applicable form.

     12. CONFLICTING AGREEMENTS

     The Company shall not enter into any agreement with respect to its securities that is
inconsistent with the rights granted to the Holders in this Agreement or otherwise prevents the
Company from complying with all of its obligations hereunder without the prior written approval of
the holders of at least a majority of the Registrable Securities.

     13. GOVERNING LAW; JURISDICTION

     This Agreement shall be governed by and interpreted in accordance with the laws of the State
of New York, without regard to its principles of conflict of laws. Any action or proceeding
seeking to enforce any provision of or based on any right arising out of, this Agreement may be
brought against any party in the federal courts of New York or the state courts of the State of
New York, in each case sitting in Monroe County, New York, and each of the parties consents to the
jurisdiction of such courts and hereby waives, to the maximum extent permitted by law, any
objection, including any objections based on forum non conveniens, to the bringing of any such
proceeding in such jurisdictions.

     14. MISCELLANEOUS

          (a) Entire Agreement. This Agreement supersedes all prior agreements and understandings among
the parties hereto with respect to the subject matter hereof. This Agreement, together with the
other Subscription Agreements and all other documents referred to or incorporated therein,
constitutes the entire agreement among the parties hereto with respect to the subject matters
hereof and thereof, and supersedes all prior agreements and understandings, whether written or
oral, among the parties with respect to such subject matters.

          (b) Amendments. This Agreement may not be amended except by an instrument in writing signed
by the party to be charged with enforcement.

          (c) Waiver. No waiver of any provision of this Agreement shall be deemed a waiver of any
other provisions or shall a waiver of the performance of a provision in one or more instances be
deemed a waiver of future performance thereof

          (d) Construction. This Agreement has been entered into freely by

 

 

each of the parties, following consultation with their respective counsel, and shall be
interpreted fairly in accordance with its respective terms, without any construction in favor of
or against either party.

          (e) Binding Effect of Agreement. This Agreement shall inure to the benefit of, and be binding
upon the successors and assigns of each of the parties hereto, including any transferees of the
Securities.

          (f) Severability. If any provision of this Agreement shall be invalid or unenforceable in any
jurisdiction, such invalidity or unenforceability shall not affect the validity or enforceability
of the remainder of this Agreement or the validity or unenforceability of this Agreement in any
other jurisdiction.

          (g) Attorneys’ Fees. If any action should arise between the parties hereto to enforce or
interpret the provisions of this Agreement, the prevailing party in such action shall be
reimbursed for all reasonable expenses incurred in connection with such action, including
reasonable attorneys’ fees.

          (h) Headings. The headings of this Agreement are for convenience of reference only and shall
not form part of, or affect the interpretation of this Agreement.

     15. COUNTERPARTS

     This Agreement may be signed in one or more counterparts, each of which shall be deemed an
original and all of which, when taken together, will be deemed to constitute one and the same
agreement.

     IN WITNESS WHEREOF, the parties hereto have caused this Registration Rights Agreement to be
duly executed, on this            day of June, 2005.

	 	 	 	 	 	 	 
	 	 	ICUITI CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Paul J. Travers	 	 
	 

	 	Name:
	 	 

Paul J. Travers
	 	 
	 

	 	Title:
	 	President	 	 

	 	 	 	 	 	 	 
	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 

	 	INVESTOR:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Print Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Address: _	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	                  
              	 	 
	 
	 	 	 	 	 	 
	 

	 	Telephone:	 	 	 	 
	 

	 	Facsimile:

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