Document:

STOCK
      PURCHASE AGREEMENT

     

    This
      COMMON STOCK PURCHASE AGREEMENT (this “Agreement”),
      dated
      as of October 19, 2007, is entered into by and between Conversion Services
      International, Inc., a Delaware corporation with an address at 100 Eagle Rock
      Avenue, East Hanover, NJ 07936 (“CSI”),
      and
TAG
      Virgin Islands, Inc.,
      with an
      address at The
      Tunick Building,
      1336
      Beltjen Road, Suite 202, St. Thomas, USVI 00802 as agent (the “Agent”) for the
      purchasers listed on the Schedule
      of Purchasers
      appended
      hereto as Schedule
      I,
      which
      may be amended from time to time to add additional purchasers 
      (collectively, the “Purchasers”).

     

    RECITALS

     

    WHEREAS,
      the Purchasers desire to purchase and acquire, and CSI desires to issue and
      sell
      to the Purchasers, at each respective Closing, as defined in Section
      2
      below,
      in accordance with the terms hereof shares of common stock, par value $0.001
      (the “Common
      Stock”)
      of CSI
      and warrants to purchase Common Stock in the form attached as Exhibit
      A
      hereto
      (the “A Warrants”)
      and/or, as provided herein, in the form attached as Exhibit
      B
      hereto
      (the “B
      Warrants,”
      collectively with the A Warrants the “Warrants”
and
      the
      Common Stock, and the Warrants collectively, the “Securities”) as
      set
      forth on the
      Schedule of Purchasers;
      and

     

    WHEREAS,
      the parties hereto desire to enter into this Agreement.

     

    AGREEMENT

     

    NOW,
      THEREFORE, in consideration of the mutual promises and covenants contained
      in
      this Agreement and other good and valuable consideration, the receipt and
      sufficiency of which is hereby acknowledged, the parties hereto agree as
      follows:

     

    1. Purchase
      and Sale of Common Stock; Issuance of Warrants; Registration Rights; Termination
      of Agreement.

     

    1.1  Purchase,
      Sale and Issuance of Common Stock. Subject
      to the terms and conditions of this Agreement, the Purchasers will purchase
      from
      CSI (each a “Purchase”)
      and
      CSI will sell to the Purchasers, from time to time, shares (the “Shares”)
      of the
      Securities. The period during which the Purchases will be effected will commence
      on the date hereof and terminate on the earlier of December 28, 2007 or the
      date
      on which a Purchase is Closed, as provided in Section
      2
      below,
      for such number of Shares as the aggregate purchase price (the “Purchase
      Price”)
      thereof for all Securities purchased by the Purchasers pursuant to the terms
      hereof, shall then equal no less than $4,300,000 nor more than $5,000,000.
      Notwithstanding the preceding, the Purchasers, Agent and CSI agree that there
      shall be no minimum amount necessary for the first or any subsequent Closing.
      The Purchase Price shall be determined in accordance with the terms of
Section
      1.2
      below.
      The Agent shall determine, by notice to CSI (the “Purchase
      Notice”),
      when
      each Purchase shall be made and when the Closing for such Purchase shall be
      effected. At each Closing, the Purchasers, as provided in the
      Schedule of Purchasers,
      will
      purchase from CSI and CSI will sell and issue to such Purchasers, the number
      of
      Shares and Warrants for the Purchase Price set forth in the Purchase Notice
      for
      such Closing. The
      Schedule of Purchasers
      for each
      respective Closing shall be amended to reflect each of the Purchases.
      

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    1.2  Definition
      of Purchase Price. For the purpose of this Agreement, “Purchase Price” for each
      respective Closing shall mean the higher of $0.10 per share or the per share
      closing price of the Common Stock as listed on AMEX on the day that the Purchase
      is effected for the Securities to be issued on such Closing. The closing price
      for each such day shall be the last reported sales price regular way or, in
      case
      no such reported sale takes place on such day, the closing bid price regular
      way, in either case on AMEX or, if not then traded on AMEX, on the principal
      national securities exchange on which the Common Stock is listed or admitted
      to
      trading or, if the Common Stock is not listed or admitted to trading on any
      national securities exchange, the highest reported bid price as furnished by
      the
      Financial Industry Regulation Authority
      through
      NASDAQ or similar organization if NASDAQ is no longer reporting such
      information, or by the Pink Sheets, LLC or similar organization if the Common
      Stock is not then quoted on an inter-dealer quotation system. If on any such
      date the Common Stock is not quoted by any such organization, the fair value
      of
      the Common Stock on such date, as determined in good faith by CSI's Board of
      Directors, shall be used. 

     

    1.3 Issuance
      of A Warrants. At each Closing, subject to the provisions of Section
      1.4
      below,
      CSI shall issue to each Purchaser purchasing Shares at the Closing, A Warrants
      to purchase such number of shares of Common Stock as shall equal the number
      of
      Shares purchased by such Purchaser at such Closing. The A Warrants shall include
      a cashless exercise option and shall be exercisable commencing immediately
      for a
      period of five years after the date of such Closing at a per share price,
      subject to applicable anti-dilution provisions, equal to 10% above the Purchase
      Price of the Shares purchased by the Purchaser at such Closing (the “Warrant
      Exercise Price”). 

     

    1.4  Issuance
      of B Warrants. CSI will not issue any A Warrants to the Purchasers for which
      it
      will not have a sufficient number of shares of Common Stock authorized and
      reserved for issuance to permit it to deliver the shares of Common Stock
      issuable upon the exercise of such A Warrants. In the event that when a Purchase
      is made CSI will
      not
      have a sufficient number of shares of Common Stock authorized and reserved
      to
      permit it to deliver the shares of Common Stock issuable upon the exercise
      of
      all of the A Warrants
      so
      purchased at the Closing for such Purchase, CSI will deliver to the Purchasers
      instead of A Warrants in accordance with Section
      1.3
      above,
      such number of B Warrants as shall equal the number of A Warrants that CSI
      is
      unable to issue to the Purchasers. CSI will immediately thereafter use its
      best
      efforts to increase its authorized shares of Common Stock (the “Authorization
      Increase”)
      to a
      number that will permit it to deliver the shares issuable upon the exercise
      of
      the B Warrants so purchased. The B Warrants shall be exercisable to purchase
      1.5
      times the number of shares of Common Stock that the undelivered A Warrants
      would
      have been exercisable for. They shall include a cashless exercise option and
      be
      exercisable for a period of five years after the date of the respective Closing
      at the Warrant Exercise Price commencing upon the effective date of the
      Authorization Increase and shall not have a cash settlement. 

     

    
      
        
        

      

      
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    1.5 Registration
      Rights Agreement. As additional consideration for the Purchasers agreeing to
      purchase the Shares and acquire the Warrants, CSI will enter into the
Registration
      Rights Agreement
      with the
      Purchasers in the form appended hereto as Exhibit
      C.

     

    1.6 Termination
      of Agreement. Anything to the contrary notwithstanding, the Agent may terminate
      this Agreement at any time upon notice to CSI in the event that the Common
      Stock
      shall no longer be listed for trading on the American Stock Exchange
      (“AMEX”).

     

    1.7 Notwithstanding
      Section
      1.6
      above,
      any Securities subscribed to by the Purchasers prior to the delisting of the
      Common Stock for trading on AMEX shall be non-revocable.

     

    2.  Closing.

     

    2.1  Closing
      Date. The purchase and sale of the Shares and the Warrants hereunder shall
      take
      place at a closing (the “Closing”),
      which
      shall be held at such time and place upon which CSI and the Agent shall
      agree.

     

    2.2  Actions
      by CSI at the Closing. CSI shall deliver to each Purchaser a
      stock
      certificate or certificates for the Shares and the Warrants, registered in
      the
      name of such Purchaser and the executed Registration Rights Agreement.

     

    2.3 Actions
      by the Purchasers at the Closing. Each Purchaser shall deliver to CSI the
Purchase
      Price for the Shares and the Warrants purchased at the Closing by such
      Purchaser.

     

    3. Representations
      and Warranties of CSI.
      CSI
      hereby represents and warrants to the Agent and the Purchasers
      that:

    

    3.1
       Organization;
      Good Standing; Qualification and Corporate Power.

    

    (a)
       CSI
      and
      each of its subsidiaries is a corporation duly organized, validly existing
      and
      in good standing under the laws of its jurisdiction of incorporation and has
      all
      requisite corporate power and authority to carry on its business as now
      conducted and as proposed to be conducted. CSI and each of its subsidiaries
      is
      duly qualified to transact business and is in good standing in each jurisdiction
      in which the failure so to qualify would have a material adverse effect on
      its
      business or properties. True and correct copies of CSI Certificate of
      Incorporation, as amended (the "Certificate
      of Incorporation")
      and
      Bylaws have been provided to the Purchasers or made available via the SEC EDGAR
      website.

    

    (b)
       CSI
      has
      all requisite legal and corporate power and authority to execute and deliver
      this Agreement, to issue the Shares and the Warrants and to carry out and
      perform its obligations under the terms of this Agreement and to consummate
      the
      transactions contemplated hereby and thereby. All necessary corporate action
      has
      been taken by CSI with respect to the execution, delivery and performance by
      CSI
      of this Agreement and the consummation of the transactions contemplated hereby
      and thereby. The Shares, when issued in
      accordance pursuant to the terms of the Agreement,
      will be
      legally issued, fully paid and non assessable and each Purchaser will own the
      Shares purchased by such Purchaser, free and clear of all liens and
      encumbrances. The Warrant, when issued in accordance with the terms of the
      Agreement, will constitute the legally binding obligation of CSI in accordance
      with its terms. 

    

    
      
        
        

      

      
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    3.2
       Capitalization
      and Voting Rights. CSI’s authorized capital consists of:

    

    (a)
      Common Stock. 200,000,000 shares of Common Stock, of which 76,777,792 shares
      were issued and outstanding as of September 30, 2007. The Common Stock is
      currently accepted for trading on the American Stock Exchange. 

     

    (b)
      Preferred Stock. 20,000,000 shares of preferred stock (the "Preferred
      Stock"),
      of
      which, as of the date hereof, an aggregate of 39,000 shares are issued and
      outstanding, 19,000
      as
      Series A Convertible Preferred Stock
      and
      20,000 as Series B Convertible Preferred Stock. 

    

    3.3
       Subsidiaries;
      Interests of CSI. Except as set forth in the SEC Documents, as defined in
Section
      3.5
      below,
      CSI does not currently own or control, directly or indirectly, any interest
      in
      any other partnership, limited liability company, corporation, joint stock
      company, trust, estate, joint venture, association or unincorporated
      organization, or any other form of business or professional entity.

    

    3.4
       Authorization.
      This Agreement and all other agreements executed and delivered by CSI in
      connection therewith, have been duly authorized, executed and delivered by
      CSI
      and constitute the legal, valid and binding obligations of CSI, enforceable
      in
      accordance with their respective terms, subject to (i) applicable bankruptcy,
      insolvency, reorganization and moratorium laws, (ii) other laws of general
      application affecting the enforcement of creditors' rights generally and general
      principles of equity, (iii) the discretion of the court before which any
      proceeding therefor may be brought, and (iv) as rights to indemnity may be
      limited by federal or state securities laws or by public policy.

    

    3.5 SEC
      Documents. CSI has filed all reports, schedules, forms, statements and other
      documents required to be filed by it with the Securities and Exchange Commission
      (the “Commission”)
      pursuant to the Securities Act of 1933 (the “Securities
      Act”)
      and
      the Securities Exchange Act of 1934 (the “Exchange
      Act”)
      (the
“SEC
      Documents”),
      and
      during the 12 calendar months prior to the date hereof all such SEC Documents
      have been filed in a timely manner. CSI is currently eligible to use Form S-3
      for stockholder registration statements under the Securities Act. The SEC
      Documents have complied in all material respects with the requirements of the
      Securities Act or the Exchange Act, as the case may be, and the rules and
      regulations of the Commission promulgated thereunder applicable to the SEC
      Documents, and none of the SEC Documents, at the time they were filed with
      the
      Commission, contained any untrue statement of a material fact or omitted to
      state a material fact required to be stated therein or necessary in order to
      make the statements therein, in light of the circumstances under which they
      were
      made, not misleading. As of their respective dates, to the best of CSI’s
      knowledge during those respective dates, the financial statements of CSI
      included in the SEC Documents complied as to form in all material respects
      with
      applicable accounting requirements and the published rules and regulations
      of
      the Commission with respect thereto. Such financial statements have been
      prepared in accordance with accounting principles generally accepted in the
      United States as in effect from time to time (“GAAP”),
      consistently applied, during the periods involved (except (a) as may be
      otherwise indicated in such financial statements or the notes thereto, or (b)
      in
      the case of unaudited interim statements, to the extent they may exclude
      footnotes or may be condensed or summary statements) and fairly present in
      all
      material respects the financial condition of CSI as of the respective dates
      thereof and the results of its operations and cash flows for the respective
      periods then ended (subject, in the case of unaudited statements, to normal
      year-end audit adjustments). Except as set forth in the SEC Documents, CSI
      has
      not received notification from the Commission, the American Stock Exchange
      and/or any federal or state securities bureaus that any investigation (informal
      or formal), inquiry or claim is pending, threatened or in process against CSI
      and/or relating to any of CSI’s securities. 

    

    
      
        
        

      

      
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    3.6
       Governmental
      Consents. No consent, approval, order, or authorization of, or registration,
      qualification, designation, declaration or filing with, any federal, state,
      local or provincial governmental authority on the part of CSI is required in
      connection with the consummation of the transactions contemplated by this
      Agreement. CSI and each of its subsidiaries has obtained all federal, state,
      local and foreign governmental licenses and permits material to and necessary
      in
      the conduct of its business, such licenses and permits are in full force and
      effect, no material violations are or have been recorded in respect of any
      such
      licenses or permits, and no proceeding is pending or threatened to revoke or
      limit any thereof. There are no consents or waivers necessary for the
      consummation of the transactions contemplated by this Agreement.

    

    3.7
       Litigation.
      Except as set forth in the SEC Documents, (i) there is no action, suit,
      proceeding, or investigation pending or currently threatened against CSI, and
      (ii) in CSI’s reasonable judgment, none of such disclosures are likely to
      question the validity of this Agreement, or the right of CSI to enter into
      such
      agreements, or to consummate the transactions contemplated hereby or thereby,
      or
      which might result, either individually or in the aggregate, in any material
      adverse change in the assets, condition, affairs, or property of CSI,
      financially or otherwise, or any change in the current equity ownership of
      CSI,
      including, without limitation, actions pending or to CSI’s knowledge threatened
      involving the prior employment of any of CSI’s employees, their use in
      connection with CSI’s business of any information or techniques allegedly
      proprietary to any of their former employers, or their obligations under any
      agreements with prior employers.

    

    
      
        
        

      

      
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    3.8
       Compliance
      with Other Instruments. CSI is not in violation or default of any provisions
      of
      its Certificate of Incorporation or Bylaws or of any instrument, judgment,
      order, writ, decree, or contract to which it is a party or by which it is bound
      or, to its knowledge, of any provision of federal or state statute, rule or
      regulation, license, or permit applicable to CSI, the violation or default
      of
      which would have a material adverse effect on CSI. The execution, delivery,
      and
      performance of this Agreement and the consummation of the transactions
      contemplated hereby and thereby will not result in any such violation or be
      in
      conflict with or constitute, with or without the passage of time and giving
      of
      notice, either a default under any such provision, instrument, judgment, order,
      writ, decree, or material contract or an event which results in the creation
      of
      any lien, charge, or encumbrance upon any assets of CSI.

    

    4.  Representations
      and Warranties of the Purchasers.
      Each
      Purchaser represents and warrants to CSI as follows:

     

    4.1  Review
      and Inspection. The Purchaser is relying on his own analysis regarding CSI’s
      operations, financial condition, assets, liabilities and other relevant matters
      as the Purchaser deemed necessary or desirable in order to evaluate the merits
      and risks of the prospective investment contemplated herein. The
      Purchaser acknowledges
      that he has not relied upon any information given to the Purchaser, or any
      statements made, by CSI or any officers or directors of CSI, except for the
      representations and warranties of CSI expressly made herein.

     

    4.2  Purchaser
      Due Diligence. The Purchaser and his representatives are solely responsible
      for
      the Purchaser’s own “due diligence” investigation of CSI and its management and
      business and for the Purchaser’s analysis of the financial future and viability
      of CSI and desirability of the terms of this investment. The Purchaser
      acknowledges that neither CSI nor any officer or director of CSI is making
      any
      representation or warranty regarding any financial projections previously given
      to the Purchaser or the assumptions underlying such financial projections,
      as
      such financial projections are subject to significant business, economic and
      other uncertainties and contingencies. The Purchaser acknowledges that if CSI
      is
      not able to operate profitably or generate positive cash flows, CSI may have
      difficulty meeting its obligations and may not be able to continue to operate
      its business, and the Purchaser could lose all of his investment. The Purchaser
      has such knowledge and experience in financial and business matters that he
      is
      capable of evaluating the merits and risks of the purchase of the Shares
      pursuant to the terms of this Agreement and of protecting his interest in
      connection therewith.

     

    4.3  Accredited
      Investor Status.
      The
      Purchaser is an “Accredited Investor” as that term is defined in Rule 501 of
      Regulation D promulgated under the Securities Act and the Purchaser is able
      to
      bear the economic risk of the purchase of the Shares pursuant to the terms
      of
      this Agreement, including a complete loss of his investment in the
      Shares.

     

    4.4  Authority
      for Agreement.
      The
      Purchaser has the full right, power and authority to enter into and perform
      his
      obligations under the Agreement, and the Agreement constitutes the valid and
      binding obligations of the Purchaser enforceable in accordance with its terms,
      subject to (i) applicable bankruptcy, insolvency, reorganization and moratorium
      laws, (ii) other laws of general application affecting the enforcement of
      creditors' rights generally and general principles of equity, (iii) the
      discretion of the court before which any proceeding therefor may be brought,
      and
      (iv) as rights to indemnity may be limited by federal or state securities laws
      or by public policy..

     

    
      
        
        

      

      
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    4.5  Governmental
      Consents.
      To the
      Purchaser’s knowledge, no consent, approval or authorization of or designation,
      declaration or filing with any governmental authority on the part of the
      Purchaser is required in connection with the valid execution, delivery and
      performance of the Agreement.

     

    4.6  Taxes.
      The
      Purchaser has not relied on any statements or representations of CSI or any
      of
      its agents (other than the representations and warranties set forth herein)
      with
      respect to the federal, state, local and foreign tax consequences of this
      investment and the federal, state, local and foreign tax consequences of
      transactions contemplated by this Agreement. With respect to such matters,
      the
      Purchaser understands that he (and not CSI) shall be responsible for his own
      tax
      liability that may arise as a result of this investment or the transactions
      contemplated by this Agreement.

     

    4.7
       Restricted
      Securities.
      The
      Purchaser understands that the Shares and the Common Stock issuable upon
      exercise of the Warrants have not been registered under the Securities Act
      or
      the laws of any state and may not be sold or transferred, or otherwise disposed
      of, without registration under the Securities Act and applicable state
      securities laws, or pursuant to an exemption therefrom. In the absence of an
      effective registration statement or an exemption therefrom covering the Shares
      and the Common Stock issuable upon exercise of the Warrants, the Purchaser
      will
      sell or transfer, or otherwise dispose of, the Shares to be acquired by him
      only
      in a manner consistent with his representations and agreements set forth herein
      and any applicable federal and state securities laws.

    

    4.8
       Legends.
      It is
      understood that the certificates evidencing the Shares and the Warrants may
      bear
      the following legend:

    

    (a)
      THE
      SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
      SECURITIES ACT OF 1933 OR APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE
      TRANSFERRED, SOLD OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE
      REGISTRATION STATEMENT WITH RESPECT TO THE SECURITIES EVIDENCED BY THIS
      CERTIFICATE, FILED AND MADE EFFECTIVE UNDER THE SECURITIES ACT OF 1933 AND
      SUCH
      APPLICABLE STATE SECURITIES LAWS OR, UNLESS REASONABLY REQUESTED BY THE COMPANY,
      THE COMPANY RECEIVES AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE
      COMPANY TO THE EFFECT THAT REGISTRATION UNDER SUCH ACT AND SUCH APPLICABLE
      STATE
      SECURITIES LAWS IS NOT REQUIRED.

    

    
      
        
        

      

      
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    (b)
       Any
      legend required by the securities (“Blue Sky”) laws of any state.

    

    The
      legend referred to in clause (a) above shall be removed by CSI from any
      certificate at such time as the holder of the securities represented by the
      certificate delivers an opinion of counsel reasonably satisfactory to CSI to
      the
      effect that such legend is not required in order to establish compliance with
      any provisions of the Securities Act, or at such time as the holder of such
      shares satisfies the requirements of Rule 144(k) or such other substantially
      similar rule promulgated under the Securities Act then in effect under the
      Securities Act; provided, that CSI has received from the holder a written
      representation that (i) such holder is not an affiliate of CSI and has not
      been
      an affiliate during the preceding three months, (ii) such holder has
      beneficially owned and paid for the shares represented by the certificate for
      a
      period of at least two years (or the period of time then required by Rule 144(k)
      or such other substantially similar rule promulgated under the Securities Act
      then in effect), and (iii) such holder otherwise satisfies the requirements
      of
      Rule 144(k) as then in effect with respect to such shares.

    

    4.9 No
      Short
      Sales. The Purchasers and their affiliates have not engaged in short sales
      of
      the Common Stock (as defined in applicable SEC and NASD rules) prior to the
      date
      hereof and will not engage in short sales of the Common Stock prior to the
      registration of the Shares.

    

    5.  Representations
      and warranties of the Agent.
      The
      Agent represents and warrants to CSI that it is authorized to act on behalf
      of
      the Purchasers with respect to the transactions referred to in this
      Agreement.

     

    6.  Conditions
      to the Obligations of the Purchasers.
      The
      obligation of the Purchasers to purchase the Shares at the Closing is subject
      to
      the fulfillment, or the written waiver, of each of the following conditions
      on
      or before the Closing:

     

    6.1  Accuracy
      of Representations and Warranties. Each representation and warranty of CSI
      contained in Section
      3
      hereof
      shall be true on and as of the Closing Date with the same effect as though
      such
      representation and warranty had been made on and as of that date.

     

    6.2  Performance.
      CSI shall have performed and complied with all covenants, agreements and
      conditions contained in this Agreement and required to be performed or complied
      with by CSI prior to or at the Closing.

     

    6.3  Proceedings
      and Documents. All documents and instruments incident to the transactions
      contemplated at the Closing shall be reasonably satisfactory in substance and
      form to each Purchaser and his counsel.

     

    
      
        
        

      

      
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    6.4
       Share
      Certificates and Warrants. Each Purchaser shall have received a certificate
      or
      certificates representing such number of Shares of his investment and the
      Warrants registered in his name as set forth on the
      Schedule of Purchasers.

     

    6.6 Execution
      of Registration Rights Agreement. CSI shall have executed and delivered to
      the
      Registration Rights Agreement in the form appended hereto as Exhibit
      B.

    

     

    7.  Condition
      to the Obligations of CSI.
      The
      obligation of CSI to sell the Shares and deliver the Warrants at the Closing
      is
      subject to fulfillment, or the written waiver, of each of the following
      conditions on or before the Closing:

     

    7.1  Accuracy
      of Representations and Warranties. Each representation and warranty of the
      Purchasers contained in Section
      4
      hereof
      shall be true on and as of the Closing Date with the same effect as though
      such
      representation and warranty had been made on and as of that date.

     

    7.2  Performance.
      All covenants, agreements and conditions contained in this Agreement and
      required to be performed by the Purchasers on or prior to the Closing Date
      shall
      have been performed or complied with in all material respects.

     

    8.
       Covenants
      of CSI.
      In
      addition to any covenants set forth in CSI's Certificate of Incorporation,
      CSI
      agrees that, so long as any Purchaser and/or an affiliate thereof beneficially
      owns any Shares and/or a Warrant remains outstanding:

    

    8.1
       Maintenance
      of Existence. CSI shall at all times (a) preserve, renew and keep in full force
      and effect its legal existence and rights and franchises with respect thereto;
      and (b) maintain in full force and effect all patents, copyrights, permits,
      licenses, trademarks, trade names, approvals, authorizations, leases and
      contracts necessary to carry on the business as currently or proposed to be
      conducted.

    

    8.2 Payment
      of Obligations. CSI shall pay and discharge at or before maturity, all of its
      material obligations and liabilities, including, without limitation, tax
      liabilities, except where the same may be contested in good faith by appropriate
      proceedings or as waived, forgiven or modified by the creditor, and will
      maintain, in accordance with generally accepted accounting principles as they
      then exist, appropriate reserves for the accrual of any of the
      same.

    

    8.3 Reservation
      of Shares. CSI shall at all times duly reserve for issuance the shares of Common
      Stock issuable upon exercise of the A Warrants and, after the Authorization
      Increase is effected, the B Warrants. 

    

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    9.
       Indemnity.
      CSI
      shall, with respect to the representations, warranties, covenants and agreements
      made by it herein indemnify, defend and hold each Purchaser and his employees,
      partners, agents, counsel and affiliates (each, an “Indemnified
      Party”)
      harmless from and against all liability, loss or damage, together with all
      reasonable costs and expenses related thereto (including legal and accounting
      fees and expenses), arising from the untruth, inaccuracy or breach of any such
      representations, warranties, covenants or agreements of CSI contained in this
      Agreement or the assertion of any claims relating to the foregoing. Without
      limiting the generality of the foregoing, each Indemnified Party shall be deemed
      to have suffered liability, loss or damage as a result of the untruth,
      inaccuracy or breach of any such representations, warranties, covenants or
      agreements if such liability, loss or damage shall be suffered by the
      Indemnified Party as a result of, or in connection with, such untruth,
      inaccuracy or breach or any facts or circumstances constituting such untruth,
      inaccuracy or breach. CSI shall indemnify and hold harmless each Indemnified
      Party against any losses, claims, damages or liabilities, joint or several,
      to
      which any of the foregoing persons may become subject, insofar as such losses,
      claims, damages or liabilities (or actions in respect thereof) arise out of
      or
      are based upon any violations by CSI of the Securities Act or state Blue Sky
      laws applicable to CSI relating to action or inaction required of CSI in
      connection with the Securities Act or registration or qualification under such
      state Blue Sky laws; and shall reimburse each such Indemnified Party for any
      legal or any other expenses reasonably incurred by any of them in connection
      with investigating or defending any such loss, claim, damage, liability or
      action; provided,
      however,
      that no
      indemnification shall be required hereunder for the gross negligence or willful
      misconduct of any Indemnified Party or material breach by a Purchaser of any
      of
      the representations and warrants set forth in Section
      4
      hereof.
      In case any such action is brought against an Indemnified Party, CSI will be
      entitled to participate in and assume the defense thereof with counsel
      reasonably satisfactory to such Indemnified Party, and after notice from CSI
      to
      such Indemnified Party of its election to assume the defense thereof, CSI shall
      be responsible for any legal or other expenses subsequently incurred by the
      latter in connection with the defense thereof, provided that if any Indemnified
      Party shall have reasonably concluded that there may be one or more legal
      defenses available to such Indemnified Party that conflict in any material
      respect with those available to CSI, or that such claims or litigation involves
      or could have an effect upon matters beyond the scope of the indemnity provided
      by this Section
      9,
      CSI
      shall reimburse such Indemnified Party and shall not have the right to assume
      the defense of such action on behalf of such Indemnified party and CSI shall
      reimburse each such Indemnified Party and any individual, partnership, limited
      liability company, corporation, joint stock company, trust, estate, joint
      venture, association or unincorporated organization, or any other form of
      business or professional entity (“Person”) controlling such Indemnified Party
      for that portion of the reasonable fees and expenses of any counsel retained
      by
      the Indemnified Party. CSI shall not make any settlement of any claims
      indemnified against hereunder without the written consent of the Indemnified
      Party or Parties, which consent shall not be unreasonably withheld. Any claim
      for indemnification under this Section
      9
      with
      respect to representations and warranties must be made not later than the end
      of
      the 12-month survival period set forth in Section
      10.2.

    

     

    10.  Miscellaneous.

     

    10.1  Assignment.
      This Agreement and all of the provisions hereof will be binding upon and inure
      to the benefit of the parties hereto and their respective successors and
      permitted assigns. Except as provided in Section
      9,
      neither
      this Agreement nor any of the rights, interests or obligations hereunder may
      be
      assigned by any party without prior written consent of the other
      party.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    10.2  Survival
      of Representations and Warranties. The warranties, representations and covenants
      of CSI and the Purchasers contained in or made pursuant to this Agreement shall
      survive the execution and delivery of this Agreement and the Closing for a
      period of 12 months and shall in no way be affected by any investigation of
      the
      subject matter thereof made by or on behalf of the Purchasers or
      CSI.

     

    10.3  Notices.
      Unless otherwise provided, any notice required or permitted under this Agreement
      shall be given in writing and shall be deemed effectively given (i) upon
      personal delivery to the party to be notified, (ii) four days after deposit
      with
      the United States Post Office, by registered or certified mail, postage prepaid,
      or (iii) one day after deposit with a reputable overnight courier service and
      addressed to the party to be notified:

     

    If
      to
      CSI:

    

    Conversion
      Services International, Inc.

    100
      Eagle
      Rock Avenue

    East
      Hanover, NJ 07936

    Attn: Scott
      Newman, President and Chief Executive Officer

    

    With
      a
      Copy to:

    

    Ellenoff
      Grossman & Schole LLP

    370
      Lexington Avenue

    New
      York,
      NY 10019

    Attn:
      David Selengut, Esq.

    

    If
      to the
      Purchasers:

    

    TAG
      Virgin Islands, Inc.

    The
      Tunick Building

    1336
      Beltjen Road, Suite 202

    St.
      Thomas, VI 00802

    Attn: James
      Tagliaferri, President 

    

    With
      a
      copy to:

    

    Barry
      Feiner, Esq.

    170
      Harrison Avenue

    Harrison,
      New York 10528

    .

     

    10.4  Brokers.
      Each Purchaser, on the one hand, and CSI, on the other hand (a) represents
      and warrants to the other party that he/it has not retained any finders or
      brokers in connection with the transactions contemplated by this Agreement,
      and
      (b) will indemnify and save the other party harmless from and against any
      and all claims, liabilities or obligations with respect to brokerage or finders’
fees or commissions, or consulting fees in connection with the transactions
      contemplated by this Agreement asserted by any Person on the basis of any
      statement or representation alleged to have been made by him/it.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    10.5  Expenses.
      CSI and the Purchasers shall bear their own expenses incurred with respect
      to
      this Agreement and the transactions contemplated hereby except that CSI shall
      pay the reasonable fees and expenses incurred by the Purchasers for the legal
      services rendered to them with respect to this Agreement and the transactions
      contemplated hereby. 

     

    10.6  Entire
      Agreement. This Agreement and the other documents delivered pursuant to the
      Agreement at the Closing embody the entire agreement and understanding between
      the parties hereto with respect to the subject matter hereof and supersede
      all
      prior agreements and understandings relating to such subject
      matter.

     

    10.7  Amendments
      and Waivers. Any term of this Agreement may be amended and the observance of
      any
      term of this Agreement may be waived (either generally or in a particular
      instance and either retroactively or prospectively) only with the written
      consent of CSI and the Purchasers. No waivers of or exceptions to any term,
      condition or provision of this Agreement, in any one or more instances, shall
      be
      deemed to be, or construed as, a further or continuing waiver of any such term,
      condition or provision.

     

    10.8  Counterparts.
      This Agreement may be executed in one or more counterparts, each of which shall
      be deemed to be an original, but all of which shall be one and the same
      document.

     

    10.9  Section
      Headings. The Section headings are for the convenience of the parties and in
      no
      way alter, modify, amend, limit, or restrict the contractual obligations of
      the
      parties.

     

    10.10  Severability.
      Any part, provision, representation or warranty of this Agreement that is
      prohibited or that is held to be void or unenforceable shall be ineffective
      solely to the extent of such prohibition or unenforceability without
      invalidating the remaining provisions hereof.

     

    10.11  Governing
      Law. This Agreement shall be governed by and construed in accordance with the
      laws of the State of Delaware (without regard to its conflict of laws
      principles). The parties hereto irrevocably consent to the exclusive personal
      jurisdiction of the federal and state courts located in the New York County,
      New
      York, as applicable, for any matter arising out of or relating to this
      Agreement. 

     

    (signature
      page to follow)

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

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

     

    

    CONVERSION
      SERVICES INTERNATIONAL, INC.

    

    

    By:
      /s/
      Scott Newman

    Name: Scott
      Newman

    Title: President
      and Chief Executive Officer

    

    

    

    TAG
      VIRGIN ISLANDS, INC.,

    as
      agent
      for the Purchasers

    

    

    By:
      /s/
      James Tagliaferri

    Name: James
      Tagliaferri

    Title: President

    

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    SCHEDULE
      I

    

    SCHEDULE
      OF PURCHASERS

    AS
      OF

    OCTOBER
      19,2007

    

    Common
      Stock Purchased at $0.20 per Share

    A
      Warrants Exercisable at $0.22 per Share

    

      
        	 	 	
                Amount

              	
                 

              	
                Number
                  of

              	
                 

              	
                Number
                  of

              	
                 

              
	
                Name
                  of Purchaser

              	
                 

              	
                Invested

              	
                 

              	
                Shares

              	
                 

              	
                A
                  Warrants

              	 
	
                Bernice
                  Goldin IRA

              	 	
                $

              	
                40,000.00

              	 	 	
                200,000

              	 	 	
                200,000

              	 
	
                Edward
                  J. Hartnett

              	 	 	
                20,000.00

              	 	 	
                100,000

              	 	 	
                100,000

              	 
	
                Joanne
                  Wolff

              	 	 	
                40,000.00

              	 	 	
                200,000

              	 	 	
                200,000

              	 
	
                Judith
                  Trop

              	 	 	
                24,000.00

              	 	 	
                120,000

              	 	 	
                120,000

              	 
	
                Kerry
                  Kuhn IRA

              	 	 	
                24,000.00

              	 	 	
                120,000

              	 	 	
                120,000

              	 
	
                Laura
                  M Fuchs Revocable Trust

              	 	 	
                24,000.00

              	 	 	
                120,000

              	 	 	
                120,000

              	 
	
                Non-Marital
                  Trust FBO

              	 	 	 	 	 	 	 	 	 	 
	
                Barbara
                  Smith

              	 	 	
                32,000.00

              	 	 	
                160,000

              	 	 	
                160,000

              	 
	
                Patricia
                  Lyon Deutch Rev Tr

              	 	 	
                37,000.00

              	 	 	
                185,000

              	 	 	
                185,000

              	 
	
                Paul
                  Goldin Marital Trust B

              	 	 	
                40,000.00

              	 	 	
                200,000

              	 	 	
                200,000

              	 
	
                R
                  Kertes C/F Steven David Kertes

              	 	 	
                4,000.00

              	 	 	
                20,000

              	 	 	
                20,000

              	 
	
                R
                  Kertes C/F Jaime E Kertes

              	 	 	
                4,000.00

              	 	 	
                20,000

              	 	 	
                20,000

              	 
	
                Scott
                  M. Fuchs IRA Rollover

              	 	 	
                24,000.00

              	 	 	
                120,000

              	 	 	
                120,000

              	 
	
                Temkin
                  Living Trust

              	 	 	
                32,000.00

              	 	 	
                160,000

              	 	 	
                160,000

              	 
	
                Theodora
                  Goldberg

              	 	 	
                30,000.00

              	 	 	
                150,000

              	 	 	
                150,000

              	 
	
                Total

              	 	
                $

              	
                375,000.00

              	 	 	
                1,875,000

              	 	 	
                1,875,000

              	 

      

    

     

     

     

    
      
        
        

      

      
        14REGISTRATION
      RIGHTS AGREEMENT 

     

    This
      Registration Rights Agreement (this "Agreement") is made and entered into as
      of
      October 19, 2007, by and between Conversion Services International, Inc., a
      Delaware corporation (the "Company"),
      and
TAG
      Virgin Islands, Inc.,
      with an
      address at The
      Tunick Building,
      1336
      Beltjen Road, Suite 202, St. Thomas, USVI 00802 as agent for the purchasers
      listed on the Schedule
      of Purchasers
      appended
      hereto as Schedule
      I 
      (the
“Purchasers”).

     

    This
      Agreement is made pursuant to the Stock Purchase Agreement, dated as of October
      19, 2007, by and between the Purchasers and the Company (as amended, modified
      or
      supplemented from time to time, the “Purchase
      Agreement”).
      The
      Company and the Purchasers hereby agree as follows: 

     

    1.  Definitions.
      Capitalized terms used and not otherwise defined herein that are defined in
      the
      Purchase Agreement shall have the meanings given such terms in the Purchase
      Agreement. As used in this Agreement, the following terms shall have the
      following meanings:

     

    "Commission"
      means
      the Securities and Exchange Commission.

     

    "Common
      Stock"
      means
      shares of the Company's common stock, par value $0.001 per share.

     

    “Effective
      Date”
shall
      mean the date the Commission shall declare a Registration Statement
      effective.

     

    "Effectiveness
      Period"
      shall
      have the meaning set forth in Section
      2(a).

     

    "Exchange
      Act"
      means
      the Securities Exchange Act of 1934 and any successor statute.

     

     

    "Filing
      Date"
      means,
      (i) with respect to the initial Registration Statement required to be filed
      hereunder, a date no later than 120 days following the date hereof and (ii)
      with
      respect to shares of Common Stock issuable to the Holder as a result of
      adjustments to the Exercise Price made pursuant to the Warrants or otherwise,
      30
      days after the occurrence such event or the date of the adjustment of the
      Exercise Price, as the case may be. 

    

     

    "Holder"
      or
      "Holders"
      means
      each Purchaser or any of his affiliates or transferees to the extent any of
      them
      hold Registrable Securities.

     

    "Indemnified
      Party"
      shall
      have the meaning set forth in Section
      5(c).

     

    "Indemnifying
      Party"
      shall
      have the meaning set forth in Section
      5(c).

     

    “Person”
means
      an individual, partnership, limited liability company, corporation, joint stock
      company, trust, estate, joint venture, association or unincorporated
      organization, or any other form of business or professional entity,

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    "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 or deemed to be
      incorporated by reference in such Prospectus. 

     

    "Purchase
      Agreement"
      shall
      have the meaning provided above.

     

    "Registrable
      Securities"
      means
      the Shares and the shares of Common Stock issuable upon the exercise of the
      Warrants. 

     

    "Registration
      Statement"
      means
      each registration statement required to be filed hereunder, 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 or deemed to be incorporated by
      reference in such registration statement.

     

    "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
      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. 

     

    "Rule
      424"
      means
      Rule 424 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 and any successor statute.

     

    “Shares”
means
      the 1,875,000 shares of Common Stock purchased by the Purchasers pursuant to
      the
      terms of the Purchase Agreement on October
      19, 2007.

     

    "Trading
      Market"
      means
      any of the NASD OTCBB, NASDAQ Capital Market, the Nasdaq National Market, the
      American Stock Exchange or the New York Stock Exchange. 

     

    “Warrants”
means,
      collectively, each Common Stock Purchase Warrant issued by the Company to the
      Purchasers as of October 19, 2007 pursuant to the Purchase Agreement to the
      extent such Common Stock Purchase Warrant is exercisable into shares of Common
      Stock and such shares of Common Stock are not otherwise subject to an effective
      Registration Statement. 

     

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

    2.  Registration.

     

    (a)  On
      or
      prior to the Filing Date the Company shall prepare and file with the Commission
      a Registration Statement covering the Registrable Securities for an offering
      to
      be made on a continuous basis pursuant to Rule 415. The Company shall cause
      the
      Registration Statement to become effective and remain effective as provided
      herein. The Company shall use its best efforts to cause the Registration
      Statement to be declared effective under the Securities Act as promptly as
      possible after the filing thereof. The Company shall use its best efforts to
      keep the Registration Statement continuously effective under the Securities
      Act
      until the date which is the earlier of when (i) all Registrable Securities
      have
      been sold or (ii) all Registrable
      Securities
      may be
      sold immediately without registration under the Securities Act and without
      volume restrictions pursuant to Rule 144(k), as determined by the counsel to
      the
      Company pursuant to a written opinion letter to such effect, addressed and
      acceptable to the Company's transfer agent and the affected Holders (the
      "Effectiveness
      Period").

     

    (b) Within
      three business days after the Effective Date of a Registration Statement, the
      Company shall cause its counsel to issue a blanket opinion in the form attached
      hereto as Exhibit
      A,
      to its
      transfer agent stating that the Registrable Securities are subject to an
      effective registration statement and can be reissued free of restrictive legend
      upon notice of a sale by a Purchaser and confirmation by such Purchaser that
      he
      has complied with the prospectus delivery requirements, provided that the
      Company has not advised the transfer agent orally or in writing that the opinion
      has been withdrawn. Copies of the blanket opinion required by this Section
      2(b)
      shall be
      delivered to each Purchaser within the time period set forth above.

    

     

    3.  Registration
      Procedures.
      If and
      whenever the Company is required by the provisions hereof to effect the
      registration of any Registrable Securities under the Securities Act, the Company
      will use its best efforts to within 90 days after the date hereof: 

     

    (a)  prepare
      and file with the Commission the Registration Statement with respect to such
      Registrable Securities, respond as promptly as possible to any comments received
      from the Commission, and use its best efforts to cause the Registration
      Statement to become and remain effective for the Effectiveness Period with
      respect thereto, and promptly provide to each Purchaser copies of all filings
      and Commission letters of comment relating thereto;

     

    (b)  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
      comply with the provisions of the Securities Act with respect to the disposition
      of all Registrable Securities covered by the Registration Statement and to
      keep
      such Registration Statement effective until the expiration of the Effectiveness
      Period;

     

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

    (c)  furnish
      to each Purchaser such number of copies of the Registration Statement and the
      Prospectus included therein (including each preliminary Prospectus) as such
      Purchaser reasonably may request to facilitate the public sale or disposition
      of
      the Registrable Securities covered by the Registration Statement;

     

    (d)  use
      its
      commercially reasonable efforts to register or qualify each Purchaser’s
      Registrable Securities covered by the Registration Statement under the
      securities or "blue sky" laws of such jurisdictions within the United States
      as
      such Purchaser may reasonably request; provided,
      however,
      that
      the Company shall not for any such purpose be required to qualify generally
      to
      transact business as a foreign corporation in any jurisdiction where it is
      not
      so qualified or to consent to general service of process in any such
      jurisdiction;

     

    (e)  list
      the
      Registrable Securities covered by the Registration Statement with any securities
      exchange on which the Common Stock of the Company is then listed; 

     

    (f)  immediately
      notify each Purchaser at any time when a Prospectus relating thereto is required
      to be delivered under the Securities Act, of the happening of any event of
      which
      the Company has knowledge as a result of which the Prospectus contained 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 light of the
      circumstances then existing; and

     

    (g)  make
      available for inspection by each Purchaser and any attorney, accountant or
      other
      agent retained by such Purchaser, all publicly available, non-confidential
      financial and other records, pertinent corporate documents and properties of
      the
      Company, and cause the Company's officers, directors and employees to supply
      all
      publicly available, non-confidential information reasonably requested by the
      attorney, accountant or agent of such Purchaser.

     

    4.  Registration
      Expenses.
      All
      expenses relating to the Company's compliance with Sections
      2
      and
3
      hereof,
      including, without limitation, all registration and filing fees, printing
      expenses, fees and disbursements of counsel and independent public accountants
      for the Company, fees and expenses (including reasonable counsel fees) incurred
      in connection with complying with state securities or "blue sky" laws, fees
      of
      the NASD, transfer taxes, fees of transfer agents and registrars, fees of,
      and
      disbursements incurred by, one counsel for the Holders (to the extent such
      counsel is required due to Company's failure to meet any of its obligations
      hereunder), are called "Registration Expenses." All selling commissions
      applicable to the sale of Registrable Securities, including any fees and
      disbursements of any special counsel to the Holders beyond those included in
      Registration Expenses, are called "Selling Expenses." The Company shall only
      be
      responsible for all Registration Expenses.

     

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

    5.  Indemnification.

     

    (a)  In
      the
      event of a registration of any Registrable Securities under the Securities
      Act
      pursuant to this Agreement, the Company will indemnify and hold harmless each
      Purchaser, and his officers, directors, trustees and each other Person, if
      any,
      who controls such Purchaser within the meaning of the Securities Act, against
      any losses, claims, damages or liabilities, joint or several, to which such
      Purchaser, or such Persons 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
      under which such Registrable Securities were registered under the Securities
      Act
      pursuant to this Agreement, any preliminary Prospectus which has been printed
      and distributed (i.e.
      a “red
      herring Prospectus”) or final Prospectus related thereto, or any amendment or
      supplement thereof, 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,
      and
      will reimburse such Purchaser, and each such Person for any reasonable legal
      or
      other expenses incurred by them in connection with investigating or defending
      any such loss, claim, damage, liability or action; provided,
      however,
      that
      the Company will not be liable in any such case if and 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 so made
      in
      conformity with information furnished by or on behalf of such Purchaser or
      any
      such Person in writing specifically for use in any such document.

     

    (b)  In
      the
      event of a registration of the Registrable Securities under the Securities
      Act
      pursuant to this Agreement, each Purchaser will indemnify and hold harmless
      the
      Company, and its officers, directors and each other Person, if any, who controls
      the Company within the meaning of the Securities Act, against all losses,
      claims, damages or liabilities, joint or several, to which the Company or such
      Persons 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 which was furnished in writing by such Purchaser to the
      Company expressly for use in (and such information is contained in) the
      Registration Statement under which such Registrable Securities were registered
      under the Securities Act pursuant to this Agreement, any preliminary Prospectus
      or final Prospectus contained therein, or any amendment or supplement thereof,
      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, and will reimburse the Company and each
      such
      Person for any reasonable legal or other expenses incurred by them in connection
      with investigating or defending any such loss, claim, damage, liability or
      action: provided,
      however,
      that
      such Purchaser will be liable in any such case if 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
      so
      made in conformity with information furnished in writing to the Company by
      or on
      behalf of such Purchaser specifically for use in any such document.
      Notwithstanding the provisions of this paragraph, no Purchaser shall be required
      to indemnify any Person or entity in excess of the amount of the aggregate
      net
      proceeds received by such Purchaser in respect of Registrable Securities in
      connection with any such registration under the Securities Act.

     

    
      
         

      

      
        -5-

        
          

        

      

      
         

      

    

    (c)  Promptly
      after receipt by a party entitled to claim indemnification hereunder (an
      "Indemnified
      Party")
      of
      notice of the commencement of any action, such Indemnified Party shall, if
      a
      claim for indemnification in respect thereof is to be made against a party
      hereto obligated to indemnify such Indemnified Party (an "Indemnifying
      Party"),
      notify the Indemnifying Party in writing thereof, but the omission so to notify
      the Indemnifying Party shall not relieve it from any liability which it may
      have
      to such Indemnified Party other than under this Section
      5(c)
      and
      shall only relieve it from any liability which it may have to such Indemnified
      Party under this Section
      5(c)
      if and
      to the extent the Indemnifying Party is prejudiced by such omission. In case
      any
      such action shall be brought against any Indemnified Party and he/it shall
      notify the Indemnifying Party of the commencement thereof, the Indemnifying
      Party shall be entitled to participate in and, to the extent it shall wish,
      to
      assume and undertake the defense thereof with counsel satisfactory to such
      Indemnified Party, and, after notice from the Indemnifying Party to such
      Indemnified Party of its election so to assume and undertake the defense
      thereof, the Indemnifying Party shall not be liable to such Indemnified Party
      under this Section
      5(c)
      for any
      legal expenses subsequently incurred by such Indemnified Party in connection
      with the defense thereof. If the Indemnified Party shall thereafter retain
      its
      own counsel, then the Indemnified Party shall pay all fees, costs and expenses
      of such counsel: provided,
      however,
      that,
      if the defendants in any such action include both the indemnified party and
      the
      Indemnifying Party and the Indemnified
      Party
      shall
      have reasonably concluded that there may be reasonable defenses available to
      such Indemnified Party which are different from or additional to those available
      to the Indemnifying Party or if the interests of the Indemnified Party
      reasonably may be deemed to conflict with the interests of the Indemnifying
      Party, the Indemnified Party shall have the right to select one separate counsel
      and to assume such legal defenses and otherwise to participate in the defense
      of
      such action, with the reasonable expenses and fees of such separate counsel
      and
      other expenses related to such participation to be reimbursed by the
      Indemnifying Party as incurred. 

     

    (d)  In
      order
      to provide for just and equitable contribution in the event of joint liability
      under the Securities Act in any case in which either (i) a Purchaser, or any
      officer, director, controlling Person or other affiliate of such Purchaser,
      makes a claim for indemnification pursuant to this Section
      5
      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
      5
      provides
      for indemnification in such case, or (ii) contribution under the Securities
      Act
      may be required on the part of such Purchaser or such officer, director,
      controlling Person or other affiliate of such Purchaser in circumstances for
      which indemnification is provided under this Section
      5;
      then,
      and in each such case, the Company and such Purchaser will contribute to the
      aggregate losses, claims, damages or liabilities to which they may be subject
      (after contribution from others) in such proportion so that such Purchaser
      is
      responsible only for the portion represented by the percentage that the public
      offering price of his securities offered by the Registration Statement bears
      to
      the public offering price of all securities offered by such Registration
      Statement; provided,
      however,
      that,
      in any such case, (A) such Purchaser will not be required to contribute any
      amount in excess of the public offering price of all such securities offered
      by
      him pursuant to such Registration Statement; and (B) no Person guilty of
      fraudulent misrepresentation (within the meaning of Section 10(f) of the Act)
      will be entitled to contribution from any Person who was not guilty of such
      fraudulent misrepresentation.

     

    
      
         

      

      
        -6-

        
          

        

      

      
         

      

    

    6.  Representations
      and Warranties.
      The
      Company represents and warrants to each Purchaser that:

     

    (a)  The
      Common Stock of the Company is registered pursuant to Section 12(b) or 12(g)
      of
      the Exchange Act and the Company has filed all proxy statements, reports,
      schedules, forms, statements and other documents required to be filed by it
      under the Securities Act and the Exchange Act (the “SEC
      Documents”).
      The
      Company filed: (i) its Annual Report on Form 10-K and Form 10K/A for its fiscal
      year ended December 31, 2006, (ii) its Quarterly Report on Form 10-Q for its
      fiscal quarter ended June 30, 2007, and (iii) the Form 8-K filings which it
      has
      made during the fiscal year 2006 and 2007 to date (collectively, the
      "SEC
      Reports").
      Each
      SEC Report was, at the time of its filing, in substantial compliance with the
      requirements of its respective form and none of the SEC Reports contain any
      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 not misleading
      in
      light of the circumstances when made. To the best of the Company’s knowledge,
      the financial statements of the Company included in the SEC Reports comply
      as to
      form in all material respects with applicable accounting requirements and the
      published rules and regulations of the Commission or other applicable rules
      and
      regulations with respect thereto. Such financial statements have been prepared
      in accordance with generally accepted accounting principles ("GAAP")
      applied on a consistent basis during the periods involved (except (i) as may
      be
      otherwise indicated in such financial statements or the notes thereto or (ii)
      in
      the case of unaudited interim statements, to the extent they may not include
      footnotes or may be condensed) and fairly present in all material respects
      the
      financial condition, the results of operations and the cash flows of the Company
      and its subsidiaries, on a consolidated basis, as of, and for, the periods
      presented in each such SEC Report. The Company is eligible to use a Registration
      Statement on Form S-3 to register the Registrable Securities.

     

    (b)  The
      Common Stock is listed for trading on the American Stock Exchange. While the
      Company is not currently subject to delisting proceedings it will continue
      to be
      monitored by the American Stock Exchange on a quarterly basis for the reasons
      disclosed in its SEC Reports. 

     

    (c)  Neither
      the Company, nor any of its affiliates, nor any Person acting on its or their
      behalf, has directly or indirectly made any offers or sales of any security
      or
      solicited any offers to buy any security under circumstances that would cause
      the offering of the Securities pursuant to the Purchase Agreement to be
      integrated with prior offerings by the Company for purposes of the Securities
      Act which would prevent the Company from selling the Common Stock pursuant
      to
      Rule 506 under the Securities Act, or any applicable exchange-related
      stockholder approval provisions, nor will the Company or any of its affiliates
      or subsidiaries take any action or steps that would cause the offering of such
      Securities to be integrated with other offerings.

     

    
      
         

      

      
        -7-

        
          

        

      

      
         

      

    

    (d)  The
      Shares and the Warrants and the shares of Common Stock that each Purchaser
      may
      acquire pursuant to the exercise of the Warrants are all restricted securities
      under the Securities Act as of the date of this Agreement. The Company will
      not
      issue any stop transfer order or other order impeding the sale and delivery
      of
      any of the Registrable Securities at such time as such Registrable Securities
      are registered for public sale or an exemption from registration is available,
      except as required by federal or state securities laws.

     

    (e)  The
      Company understands the nature of the Registrable Securities issuable upon
      exercise of the Warrants and recognizes that the issuance of such Registrable
      Securities may have a potential dilutive effect. The Company specifically
      acknowledges that its obligation to issue the Registrable Securities is binding
      upon the Company and enforceable regardless of the dilution such issuance may
      have on the ownership interests of other shareholders of the
      Company.

     

    (f)  Except
      for agreements made in the ordinary course of business, there is no agreement
      that has not been filed with the Commission as an exhibit to a registration
      statement or to a form required to be filed by the Company under the Exchange
      Act, the breach of which could reasonably be expected to have a material and
      adverse effect on the Company and its subsidiaries, or would prohibit or
      otherwise interfere with the ability of the Company to enter into and perform
      any of its obligations under this Agreement in any material
      respect.

     

    (g)  The
      Company will at all times have authorized and reserved a sufficient number
      of
      shares of Common Stock for the full exercise of the Warrants.

     

    7.  Miscellaneous.

     

    (a)  Remedies.
      In the
      event of a breach by the Company or by a Holder, of any of their respective
      obligations under this Agreement, each 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. 

     

    (b)  No
      Piggyback on Registrations.
      Except
      as and to the extent specified in Schedule
      7(b)
      hereto,
      neither the Company nor any of its security holders (other than the Holders
      in
      such capacity pursuant hereto) may include securities of the Company in any
      Registration Statement other than the Registrable Securities, and the Company
      shall not after the date hereof enter into any agreement providing any such
      right for inclusion of shares in the Registration Statement to any of its
      security holders. Except as and to the extent specified in Schedule
      7(b)
      hereto,
      the Company has not previously entered into any agreement granting any
      registration rights with respect to any of its securities to any Person that
      have not been fully satisfied. 

     

    
      
         

      

      
        -8-

        
          

        

      

      
         

      

    

    (c)  Compliance.
      Each
      Holder covenants and agrees that such Holder will 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.

     

    (d)  Discontinued
      Disposition.
      Each
      Holder agrees by such Holder’s acquisition of such Registrable Securities that,
      upon receipt of a notice from the Company of the occurrence of a Discontinuation
      Event (as defined below), such Holder will forthwith discontinue disposition
      of
      such Registrable Securities under the applicable Registration Statement until
      such Holder's receipt of the copies of the supplemented Prospectus and/or
      amended Registration Statement or until such Holder is advised in writing (the
      "Advice")
      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. The Company may provide appropriate stop orders to
      enforce the provisions of this paragraph. For purposes of this Section
      7(d),
      a
      "Discontinuation
      Event"
      shall
      mean (i) 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 (the Company shall provide true and
      complete copies thereof and all written responses thereto to each of the
      Holders); (ii) any request by the Commission or any other federal or state
      governmental authority for amendments or supplements to such Registration
      Statement or Prospectus or for additional information; (iii) the issuance by
      the
      Commission of any stop order suspending the effectiveness of such Registration
      Statement covering any or all of the Registrable Securities or the initiation
      of
      any Proceedings for that purpose; (iv) 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/or (v) the occurrence of any event or passage of time that makes
      the financial statements included in such Registration Statement ineligible
      for
      inclusion therein or any statement made in such Registration Statement or
      Prospectus or any document incorporated or deemed to be incorporated therein
      by
      reference untrue in any material respect or that requires any revisions to
      such
      Registration Statement, Prospectus or other documents so that, in the case
      of
      such Registration Statement or Prospectus, as the case may be, it will not
      contain any untrue statement of a material fact or omit to state any material
      fact required to be stated therein or necessary to make the statements therein,
      in light of the circumstances under which they were made, not
      misleading.

     

    (e)  Piggy-Back
      Registrations.
      If at
      any time during the Effectiveness Period there is not an effective Registration
      Statement covering all of the Registrable Securities and the Company shall
      determine to prepare and file with the Commission a registration statement
      relating to an offering for its own account or the account of others under
      the
      Securities Act of any of its equity securities, other than on Form S-4 or Form
      S-8 (each as promulgated under the Securities Act) or their then equivalents
      relating to equity securities to be issued solely in connection with any
      acquisition of any entity or business or equity securities issuable in
      connection with stock option or other employee benefit plans, then the Company
      shall send to each Holder written notice of such determination and, if within
      15
      days after receipt of such notice, any such Holder shall so request in writing,
      the Company shall include in such registration statement all or any part of
      such
      Registrable Securities such Holder requests to be registered to the extent
      the
      Company may do so without violating registration rights of others which exist
      as
      of the date of this Agreement, subject to customary underwriter cutbacks
      applicable to all holders of registration rights and subject to obtaining any
      required consent of any selling stockholder(s) to such inclusion under such
      registration statement.

     

    
      
         

      

      
        -9-

        
          

        

      

      
         

      

    

    (f)  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 the Holders of the then outstanding Registrable
      Securities. Notwithstanding the foregoing, a waiver or consent to depart from
      the provisions hereof with respect to a matter that relates exclusively to
      the
      rights of certain Holders and that does not directly or indirectly affect the
      rights of other Holders may be given by Holders of at least a majority of the
      Registrable Securities to which such waiver or consent relates; provided,
      however,
      that
      the provisions of this sentence may not be amended, modified, or supplemented
      except in accordance with the provisions of the immediately preceding
      sentence.

     

    (g)  Notices.
      Any
      notice or request hereunder may be given to the Company or the Purchasers at
      the
      respective addresses set forth below or as may hereafter be specified in a
      notice designated as a change of address under this Section
      7(g).
      Any
      notice or request hereunder shall be given by pre-paid registered or certified
      mail, return receipt requested, hand delivery, overnight mail, Federal Express
      or other national overnight next day carrier (collectively, "Courier") or
      telecopy (confirmed by mail). Notices and requests shall be, in the case of
      those by hand delivery, deemed to have been given when delivered to any party
      to
      whom it is addressed, in the case of those by mail or overnight mail, deemed
      to
      have been given three business days after the date when deposited in the mail
      or
      with the overnight mail carrier, in the case of a Courier, the next business
      day
      following timely delivery of the package with the Courier, and, in the case
      of a
      telecopy, when confirmed. The address for such notices and communications shall
      be as follows:

     

    
      	
              If
                to the Company:

            	
              Conversion
                Services International, Inc. 

              100
                Eagle Rock Avenue

              East
                Hanover, New Jersey 07936

              Attention: Chief
                Financial Officer

              Facsimile: 973-560-9500

            

    

     

     

    
      
         

      

      
        -10-

        
          

        

      

      
         

      

    

     

    
      	
               

            	
               

            
	
              If
                to the Purchasers:

            	
              TAG
                Virgin Islands, Inc.

              The
                Tunick Building

              1336
                Beltjen Road

              Suite
                202

              St.
                Thomas, USVI 00802

              Attn: James
                Tagliaferri, President 

              Facsimile: 
                (340) 779 8002

               

              With
                a copy to:

               

              Barry
                Feiner, Esq.

              170
                Harrison Avenue

              Harrison,
                New York 10528

              Facsimile: (914)
                777-3084

            
	
               

            	
               

            
	
              If
                to any other Person who is then the registered
                Holder:

            	
              To
                the address of such Holder as it appears in the stock transfer books
                of
                the Company

            

    

    

    or
      such
      Person may designate such other address as in writing hereafter in accordance
      with this Section 7(g).

     

    (h)  Successors
      and Assigns.
      This
      Agreement shall inure to the benefit of and be binding upon the successors
      and
      permitted assigns of each of the parties and shall inure to the benefit of
      each
      Holder. The Company may not assign its rights or obligations hereunder without
      the prior written consent of each Holder. Each Holder may assign his respective
      rights hereunder in the manner and to the Persons as permitted under the
      Purchase Agreement.

     

    (i)  Execution
      and 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.

     

    (j)  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 Delaware, without regard to the
      principles of conflicts of law thereof. Each party agrees that all Proceedings
      concerning the interpretations, enforcement and defense of the transactions
      contemplated by this Agreement shall be commenced exclusively in the state
      and
      federal courts sitting in the County and State of
      New
      York. Each party hereto hereby irrevocably submits to the exclusive jurisdiction
      of the state and federal courts sitting in the County and State of New York
      for
      the adjudication of any dispute hereunder or in connection herewith or with
      any
      transaction contemplated hereby or discussed herein, and hereby irrevocably
      waives, and agrees not to assert in any Proceeding, any claim that it is not
      personally subject to the jurisdiction of any such court, that such Proceeding
      is improper. Each party hereto hereby irrevocably waives personal service of
      process and consents to process being served in any such Proceeding by mailing
      a
      copy thereof via registered or certified mail or overnight delivery (with
      evidence of delivery) to such party at the address in effect for notices to
      him/it under this Agreement and agrees that such service shall constitute good
      and sufficient service of process and notice thereof. Nothing contained herein
      shall be deemed to limit in any way any right to serve process in any manner
      permitted by law. 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 or the
      transactions contemplated hereby. If either party shall commence a Proceeding
      to
      enforce any provisions of this Agreement, the Purchase Agreement or any
      ancillary agreement, then the prevailing party in such Proceeding shall be
      reimbursed by the other party for its reasonable attorneys’ fees and other costs
      and expenses incurred with the investigation, preparation and prosecution of
      such Proceeding.  

     

    
      
         

      

      
        -11-

        
          

        

      

      
         

      

    

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

     

    (l)  Severability.
      If any
      term, provision, covenant or restriction of this Agreement is held by a court
      of
      competent jurisdiction to be invalid, illegal, void or unenforceable, 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.

     

    (m)  Headings.
      The
      headings in this Agreement are for convenience of reference only and shall
      not
      limit or otherwise affect the meaning hereof.

     

    IN
      WITNESS WHEREOF, the parties have executed this Registration Rights Agreement
      as
      of the date first written above. 

     

    
      	
              CONVERSION
                SERVICES INTERNATIONAL, INC.

            	
               

            	
              TAG
                VIRGIN ISLANDS, INC.

              as
                agent for the Purchasers 

            
	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            
	
              By:

            	
               

            	
               

            	
              By:

            	
               

            
	
              Name:

            	
              Scott
                Newman

            	
               

            	
              Name:

            	
              James
                Tagliaferri

            
	
              Title:

            	
              President

            	
               

            	
              Title:

            	
              President

            

    

    

    
      
         

      

      
        -12-

        
          

        

      

      
         

      

    

    SCHEDULE
      I

    

    SCHEDULE
      OF PURCHASERS

    

      

      
        	 	 	
                Number
                  of

              	 	
                Number
                  of

              	 
	
                Name
                  of Purchaser

              	 	
                Shares

              	
                 

              	
                Warrants

              	 
	
                Bernice
                  Goldin Ira

              	 	 	
                200,000

              	 	 	
                200,000

              	 
	
                Edward
                  J. Hartnett

              	 	 	
                100,000

              	 	 	
                100,000

              	 
	
                Joanne
                  Wolff

              	 	 	
                200,000

              	 	 	
                200,000

              	 
	
                Judith
                  Trop

              	 	 	
                120,000

              	 	 	
                120,000

              	 
	
                Kerry
                  Kuhn IRA

              	 	 	
                120,000

              	 	 	
                120,000

              	 
	
                Laura
                  M Fuchs Revocable Trust

              	 	 	
                120,000

              	 	 	
                120,000

              	 
	
                Non-Marital
                  Trust FBO

              	 	 	 	 	 	 	 
	
                Barbara
                  Smith

              	 	 	
                160,000

              	 	 	
                160,000

              	 
	
                Patricia
                  Lyon Deutch Rev Tr

              	 	 	
                185,000

              	 	 	
                185,000

              	 
	
                Paul
                  Goldin Marital Trust B

              	 	 	
                200,000

              	 	 	
                200,000

              	 
	
                R
                  Kertes C/F Steven David Kertes

              	 	 	
                20,000

              	 	 	
                20,000

              	 
	
                R
                  Kertes C/F Jaime E Kertes

              	 	 	
                20,000

              	 	 	
                20,000

              	 
	
                Scott
                  M. Fuchs IRA Rollover

              	 	 	
                120,000

              	 	 	
                120,000

              	 
	
                Temkin
                  Living Trust

              	 	 	
                160,000

              	 	 	
                160,000

              	 
	
                Theodora
                  Goldberg

              	 	 	
                150,000

              	 	 	
                150,000

              	 
	
                Total

              	 	 	
                1,875,000

              	 	 	
                1,875,000

              	 

      

    
      
         

      

      
        -13-

        
          

        

      

      
         

      

    

    EXHIBIT
      A

     

    [date]

    

    
      	
              [Transfer
                Agent]

              [Address]

            	
               

            

    

    

    
      	
              Re:

            	
              Conversion
                Services International, Inc. Registration Statement on Form S-1
                

            

    

     

    Ladies
      and Gentlemen:

     

    As
      counsel to Conversion Services International, Inc., a Delaware corporation
      (the
“Company”), we have been requested to render our opinion to you in connection
      with the resale by the individuals or entitles listed on Schedule B attached
      hereto (the “Selling Stockholders”), of an aggregate of [amount] shares (the
“Shares”) of the Company’s Common Stock.

     

    A
      Registration Statement on Form S-1 or S-3 under the Securities Act of 1933(the
      “Act”), with respect to the resale of the Shares was declared effective by the
      Securities and Exchange Commission on [date]. Enclosed is the Prospectus dated
      [date]. We understand that the Shares are to be offered and sold in the manner
      described in the Prospectus.

     

    Based
      upon the foregoing, upon request by the Selling Stockholders at any time while
      the registration statement remains effective, it is our opinion that the Shares
      have been registered for resale under the Act and new certificates evidencing
      the Shares upon their transfer or re-registration by the Selling Stockholders
      may be issued without restrictive legend. We will advise you if the registration
      statement is not available or effective at any point in the future.

     

    Very
      truly yours,

    

    

    [Company
      counsel]

    
      
         

      

      
        -14-

        
          

        

      

      
         

      

    

    Schedule
      7(b)

    

    Scott
      Newman

    Glenn
      Peipert

    Robert
      C.
      DeLeeuw

    William
      McKnight

    Investors
      represented by Taurus Advisory Group, LLC

    Laurus
      Master Fund, Ltd.

    Laidlaw,
      Ltd.

    Certain
      employees of Evoke Software Corporation approximating 286,000
      shares

    

    
      
         

      

      
        -15-

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