Document:

EXHIBIT 10.33

Execution Copy

AMENDED
AND RESTATED

REGISTRATION RIGHTS AGREEMENT

This AMENDED AND RESTATED REGISTRATION RIGHTS
AGREEMENT (this “Agreement”), dated as of May
26, 2006, is by and between Earth Biofuels, Inc., a Delaware corporation (the “Company”), and each of the entities
whose names appear on the signature pages hereof.  Such entities are each referred to herein as “Purchaser” and, collectively, as the
“Purchasers”.

The
Company and the Purchasers are party to a Securities Purchase Agreement, dated
as of May 26, 2006 (the “Original Purchase
Agreement”), and a Registration Rights Agreement, dated as of
May 26, 2006 (the “Original Registration Rights Agreement”).
 Pursuant
to Section 4.21 of the Original Purchase Agreement, the Company and the Purchasers
desire to amend and restate the Original Purchase Agreement, the Original
Registration Rights Agreement, the Notes and the Warrants (each, as defined
below) to reflect the more favorable terms contained in the Subsequent Closing
(as defined in the Original Purchase Agreement).  References in this Agreement to the
Securities Purchase Agreement, the Notes and the Warrants shall be deemed to
include the Securities Purchase Agreement, the Notes and the Warrants, as
amended and restated in connection herewith and as may be further amended
and/or restated from time to time in accordance with their respective terms.

The Company has agreed, on the terms and subject to
the conditions set forth in the Amended and Restated Securities Purchase
Agreement, dated as of May 26, 2006 (the “Securities Purchase
Agreement”), to issue and sell to each Purchaser named therein
(A) an 8% Senior Note in the form attached to the Securities Purchase Agreement
(each, a “Note” and, collectively, the “Notes”) and (B) a Warrant in the
form attached to the Securities Purchase Agreement (each, a “Warrant” and, collectively, the “Warrants”).

The Notes are convertible, subject to the conditions
specified in the Securities Purchase Agreement, into shares (the “Conversion Shares”) of the Company’s
common stock, par value $0.001 per share (the “Common
Stock”). The Warrants are exercisable into shares of Common
Stock (the “Warrant Shares”) in
accordance with their terms.

In order to induce each Purchaser to enter into the
Securities Purchase Agreement, the Company has agreed to provide certain
registration rights under the Securities Act of 1933, as amended (the “Securities Act”), and under
applicable state securities laws.

 

In consideration
of each Purchaser entering into the Securities Purchase Agreement, and other
good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties agree that the Original Registration Rights
Agreement is amended and restated to read in its entirety as follows:

1.             DEFINITIONS.

For purposes of this Agreement, the following terms
shall have the meanings specified:

“Business Day” means any day
other than a Saturday, a Sunday or a day on which the Commission is closed or
on which banks in the City of New York are authorized by law to be closed.

“Commission”
means the Securities and Exchange Commission.

“Effective Date”
means the date on which the Registration Statement is declared effective by the
Commission.

“Filing Deadline”
means the date that is the earliest of the following:  (i) the date on which the Company files a
registration statement covering any of its securities issued on or after
January 1, 2006; (ii) the date on which the Company is contractually required
to file a registration statement covering any of its securities (other than the
Registrable Securities) issued after the Closing Date; and (iii) the date that
is the sixtieth (60th) calendar day following the Closing Date.

“Holder”
means any person owning or having the right to acquire, through conversion of the
Notes or exercise of the Warrants or otherwise, Registrable Securities,
including initially each Purchaser and thereafter any permitted assignee
thereof.

“Registrable Securities”
means the Conversion Shares, the Warrant Shares, and any other shares of Common
Stock issuable pursuant to the terms of the Note or the Warrants, and any
shares of capital stock issued or issuable from time to time (with any
adjustments) in replacement of, in exchange for or otherwise in respect of the
Conversion Shares and the Warrant Shares.

“Registration Deadline”
means the earliest of (i) the one hundred and twentieth (120th) calendar day following the
Closing Date, (ii) the sixtieth (60th)
calendar day following the Filing Deadline, and (iii) the fifth (5th) Business Day after the Company learns
that no review of the Registration Statement will be made by the staff of the
Commission or that the staff of the Commission has no further comments on the
Registration Statement.

“Registration Period”
has the meaning set forth in Section 2(c)
below.

“Registration Statement”
means a registration statement or statements prepared in compliance with the
Securities Act and pursuant to Rule 415 under the Securities Act (“Rule 415”) or any successor rule
providing for the offering of securities on a continuous or delayed basis.

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Capitalized terms used
herein and not otherwise defined shall have the respective meanings specified
in the Securities Purchase Agreement.

2.             REGISTRATION.

(a)           Filing
of Registration Statement.  On or
before the Filing Deadline, the Company shall prepare and file with the
Commission a Registration Statement on Form SB-2 as a “shelf” registration
statement under Rule 415 covering the resale of a number of shares of
Registrable Securities equal to one hundred and fifty percent (150%) of the
number of shares of Common Stock issuable upon conversion of the Notes and
exercise of the Warrants (such number to be determined using the Conversion
Price (as defined in the Notes) and Exercise Price (as defined in the Warrants)
in effect on the date on which the Registration Statement is filed and without
regard to any restriction on such conversion or exercise). Such Registration
Statement shall state, to the extent permitted by Rule 416 under the Securities
Act, that it also covers such indeterminate number of additional shares of
Common Stock as may become issuable upon the conversion of the Notes and
exercise of the Warrants in order to prevent dilution resulting from stock
splits, stock dividends or similar events. 
The Company shall retain Akin, Gump, Strauss, Hauer & Feld LLP or a
comparable national law firm that is reasonably satisfactory to the Purchasers
to handle the preparation of the Registration Statement and the process of
getting such Registration Statement effective.

(b)           S-1/S-3
Registration Statement. 
Notwithstanding the foregoing Section 2(a),
if at the Filing Deadline the Company does not meet the eligibility
requirements for filing a Registration Statement on Form SB-2, then in each
such case the Company shall instead prepare and file with the Commission a
Registration Statement meeting the foregoing requirements on Form S-1. In the
event that the Company files a Registration Statement on Form S-1 or Form
SB-2,  and thereafter meets the
eligibility requirements to use Form S-3 for the resale of Registrable
Securities by the Purchaser, the Company shall re-file such Registration
Statement, or file a new Registration Statement covering at least the number of
shares then registered on the existing Registration Statement(s) (and not
previously sold pursuant to an existing Registration Statement or pursuant to
Rule 144 under the Securities Act (“Rule 144”)),
on Form S-3 as promptly as practicable (but in no event later than thirty (30)
days) after the Company meets such requirements.

(c)           Effectiveness.  The Company shall use reasonable best efforts
to cause the Registration Statement to become effective as soon as practicable
following the filing thereof, but in no event later than the Registration
Deadline.  The Company shall respond
promptly to any and all comments made by the staff of the Commission on with
respect to a Registration Statement, and shall submit to the Commission, within
two (2) Business Days after the Company learns that no review of such
Registration Statement will be made by the staff of the Commission or that the
staff of the Commission has no further comments on such Registration Statement,
as the case may be, a request for acceleration of the effectiveness of such
Registration Statement to a time and date not later than two (2) Business Days
after the submission of such request. 
The Company will maintain the effectiveness of each Registration
Statement filed pursuant to this Agreement until the earliest to occur of (i)
the date on which all of the Registrable Securities eligible for resale
thereunder have been publicly sold pursuant to either the Registration
Statement or Rule 144, (ii) the date on which all of the Registrable Securities
remaining to be sold under such Registration Statement (in the reasonable
opinion of counsel to the Company) may be immediately sold to the public under 

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Rule 144(k) under the Securities Act (“Rule 144(k)”) or any successor
provision and (iii) the date that is the second (2nd) anniversary of the  Effective Date (the period beginning on the
Closing Date and ending on the earliest to occur of (i), (ii) or (iii) above
being referred to herein as the “Registration Period”).

(d)           Registration
Default.  If (i) the Registration
Statement is not filed on or before the Filing Deadline or declared effective
by the Commission on or before the Registration Deadline, (ii) after a
Registration Statement has been declared effective by the Commission, sales of
Registrable Securities (other than such Registrable Securities as are then freely
saleable pursuant to Rule 144(k)) cannot be made by a Holder under a
Registration Statement for any reason not within the exclusive control of such
Holder, or (iii) an amendment or supplement to a Registration Statement, or a
new registration statement, required to be filed pursuant to the terms of Section 3(j) below, is not filed on
or before the date required by such section (each of the foregoing clauses (i),
(ii) and (iii) being referred to herein as a “Registration
Default”), the Company shall make cash payments to each Holder
equal to such Holder’s pro rata share
(based on the aggregate number of Registrable Securities then held by or
issuable to such Holder as of the occurrence of the Registration Deadline)
equal to one percent (1%) of the aggregate Purchase Price paid by such Holder
for such Holder’s Note and Warrants for each thirty (30) day period (pro rated
for partial periods) in which a Registration Default exists, up to a maximum of
four percent (4%) of the aggregate Purchase Price paid by such Holder for such
Holder’s Note and Warrants; provided, however, that
such maximum shall be increased to six percent (6%) of the aggregate Purchase
Price paid by such Holder if the Registration Statement is not filed on or
before August 31, 2006. Notwithstanding any provision of this Agreement to the
contrary, the Company shall be permitted to suspend the Registration Statement
for one or more periods (provided that the aggregate length of such suspension
shall not exceed ten (10) consecutive Business Days or an aggregate of twenty
(20) Business Days in any 365 day period, with at least thirty calendar days
between each such suspension) the actions required under Section
2(a) of this Agreement to the extent that the Board of Directors
of the Company concludes reasonably and in good faith that the disclosure of
information in the prospectus is not in the best interest of the Company.  Each such payment required to be made under
this Section 2(d) shall be made within
five (5) Business Days following the last day of each calendar month in which a
Registration Default exists. Any such payment made following such five (5)
Business Day window shall be subject to interest at the lower of sixteen
percent (16%) and the maximum rate permitted by applicable law.  Any such payment shall be in addition to any
other remedies available to each Holder at law or in equity, whether pursuant
to the terms hereof, the Securities Purchase Agreement, the Notes, or
otherwise.

(e)           Allocation of Conversion Shares
and Warrant Shares. The initial number of Conversion Shares and Warrant
Shares included in any Registration Statement and each increase in the number
thereof included therein shall be allocated pro rata among
the Holders based on the aggregate number of Registrable Securities issuable to
each Holder at the time the Registration Statement covering such initial number
of Registrable Securities or increase thereof is declared effective by the
Commission (such number to be determined using the Conversion Price or Exercise
Price, as applicable, in effect at such time and without regard to any
restriction on the ability of a Holder to convert such Holder’s Note or
exercise such Holder’s Warrant as of such date).  In the event that a Holder sells or otherwise
transfers any of such Holder’s Registrable Securities, each transferee shall be
allocated the portion of the then remaining number of Registrable Securities
included in such Registration Statement allocable to the transferor.

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(f)            Registration of Other Securities.  During the period beginning on the date
hereof and ending on the Effective Date, the Company shall refrain from filing
any registration statement (other than (i) a Registration Statement filed
hereunder, (ii) a registration statement on Form S-8 with respect to stock option
plans and agreements and stock plans currently in effect and disclosed in the
Securities Purchase Agreement or the schedules thereto, or (iii) a registration
statement on Form S-4 with respect to an acquisition or other business
combination involving the Company.

3.             OBLIGATIONS OF
THE COMPANY.

In addition to performing its obligations hereunder,
including without limitation those pursuant to Section 2 above, the Company
shall, with respect to each Registration Statement:

(a)           prepare
and file with the Commission such amendments and supplements to such
Registration Statement and the prospectus used in connection with such
Registration Statement as may be necessary to comply with the provisions of the
Securities Act or to maintain the effectiveness of such Registration Statement
during the Registration Period, or as may be reasonably requested by a Holder
in order to incorporate information concerning such Holder or such Holder’s
intended method of distribution and further incorporating such additional information
as may be reasonably requested by such Holder;

(b)           at
such time following the Closing that the Company is eligible to do so, use
commercially reasonable efforts to secure the listing on the Principal Market
of all Registrable Securities issuable upon conversion of the Notes and
exercise of the Warrants, and at any Holder’s request, provide such Holder with
reasonable evidence thereof;

(c)           so
long as a Registration Statement is effective covering the resale of the
applicable Registrable Securities owned by a Holder, furnish to each Holder
such number of copies of the prospectus included in such Registration
Statement, including a preliminary prospectus, in conformity with the
requirements of the Securities Act, and such other documents as such Holder may
reasonably request in order to facilitate the disposition of such Holder’s
Registrable Securities;

(d)           use
commercially reasonable efforts to register or qualify the Registrable
Securities under the securities or “blue sky” laws of such jurisdictions within
the United States as shall be reasonably requested from time to time by a
Holder, and do any and all other acts or things which may reasonably be
necessary or advisable to enable such Holder to consummate the public sale or
other disposition of the Registrable Securities in such jurisdictions; provided that the Company shall not be required in
connection therewith or as a condition thereto to qualify to do business or to
file a general consent to service of process in any such jurisdiction;

(e)           notify
each Holder immediately after becoming aware of the occurrence of (i) any
request by the SEC or any other federal/state governmental authority during the
period of effectiveness of the Registration Statement for amendments or
supplements to a Registration Statement or related prospectus or for additional
information or (ii) any other event (but shall not, without the prior written
consent of such Holder, disclose to such Holder any facts or circumstances 

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constituting material non-public information) as a result
of which the prospectus included in such Registration Statement, as then in
effect, contains an untrue statement of material fact or omits to state a
material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made, not
misleading, and as promptly as practicable prepare and file with the Commission
and furnish to each Holder a reasonable number of copies of a supplement or an
amendment to such prospectus as may be necessary so that such prospectus does
not contain an untrue statement of 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 then existing;

(f)            use
commercially reasonable efforts to prevent the issuance of any stop order or
other order suspending the effectiveness of such Registration Statement and, if
such an order is issued, to notify each Holder immediately after becoming aware
thereof and to use commercially reasonable efforts obtain the withdrawal
thereof at the earliest possible time and to notify each Holder in writing of
the issuance of such order and the resolution thereof;

(g)           furnish
to each Holder, on the date that such Registration Statement, or any successor
registration statement, becomes effective, a letter, dated such date, signed by
an officer of or counsel to the Company and addressed to such Holder,
confirming such effectiveness and, to the knowledge of such counsel, the
absence of any stop order;

(h)           provide
to each Holder and its representatives the reasonable opportunity to conduct a
reasonable inquiry of the Company’s financial and other records during normal
business hours and make available during normal business hours and with
reasonable advance notice its officers, directors and employees for questions
regarding information which such Holder may reasonably request in order to
fulfill any due diligence obligation on its part;

(i)            permit
counsel for each Holder to review such Registration Statement and all
amendments and supplements thereto, and any comments made by the staff of the
Commission concerning such Holder and/or the transactions contemplated by the
Transaction Documents and the Company’s responses thereto, within a reasonable
period of time prior to the filing thereof with the Commission (or, in the case
of comments made by the staff of the Commission, within a reasonable period of
time following the receipt thereof by the Company);

(j)            in
the event that, at any time, the number of shares available under the
Registration Statement is insufficient to cover one hundred and twenty-five
percent (125%) of the Registrable Securities issuable under the Notes and
Warrants (such number to be determined using the Conversion Price or Exercise
Price, as applicable, in effect at such time and without regard to any
restriction on the ability of any Holder to convert such Holder’s Note or
exercise such Holder’s Warrant) the Company shall promptly amend such
Registration Statement or file a new registration statement, in any event as
soon as practicable, but not later than the tenth (10th) day following notice from a
Holder of the occurrence of such event, so that such Registration Statement or
such new registration statement, or both, covers no less than one hundred and
fifty percent (150%) of the Registrable Securities eligible for resale
thereunder and issuable under the Notes and Warrants (such number to be
determined using the Conversion Price or Exercise Price, as applicable, in effect
at the time of such amendment or filing and without regard to any restriction
on the ability of any Holder

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to convert such Holder’s Note or exercise such Holder’s
Warrant). The Company shall use its best efforts to cause such amendment and/or
new Registration Statement to become effective as soon as practicable following
the filing thereof. Any Registration Statement filed pursuant to this Section 3(j) shall state that, to
the extent permitted by Rule 416 under the Securities Act, such Registration
Statement also covers such indeterminate number of additional shares of Common
Stock as may become issuable upon conversion of the Note and exercise of the
Warrants in order to prevent dilution resulting from stock splits, stock
dividends or similar events. Unless and until such amendment or new
Registration Statement becomes effective, each Holder shall have the rights
described in Section 2(d) above;

(k)           cause
to be furnished to each Holder, upon request therefor, comfort letters from the
Company’s independent auditors and/or outside counsel, with respect to such
Holder’s status as an underwriter; and

(l)            cause
to be timely furnished to each Holder, earnings statements of the Company
conforming to the requirements of Rule 158 under the Securities Act.

4.             OBLIGATIONS
OF EACH HOLDER.

In connection with the registration of Registrable Securities pursuant
to a Registration Statement, each Holder shall:

(a)           timely
furnish to the Company (i) a completed Shareholder Questionnaire and (ii) such
information in writing regarding itself and the intended method of disposition
of such Registrable Securities as the Company shall reasonably request in order
to effect the registration thereof;

(b)           upon
receipt of any notice from the Company of the happening of any event of the
kind described in Sections 3(e) or 3(f), immediately discontinue any
sale or other disposition of such Registrable Securities pursuant to such
Registration Statement until the filing of an amendment or supplement as
described in Section 3(e) or withdrawal of
the stop order referred to in Section 3(f),
and use commercially reasonable efforts to maintain the confidentiality of such
notice and its contents;

(c)           to
the extent required by applicable law, deliver a prospectus to the purchaser of
such Registrable Securities;

(d)           notify
the Company when it has sold all of the Registrable Securities held by it; and

(e)           notify the Company in the event that
any information supplied by such Holder in writing for inclusion in such
Registration Statement or related prospectus is untrue or omits to state a
material fact required to be stated therein or necessary to make such
information not misleading in light of the circumstances then existing;
immediately discontinue any sale or other disposition of such Registrable Securities
pursuant to such Registration Statement until the filing of an amendment or
supplement to such prospectus as may be necessary so that such prospectus does
not contain an 

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untrue statement of
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 then existing; and use commercially reasonable efforts to assist
the Company as may be appropriate to make such amendment or supplement
effective for such purpose.

5.             INDEMNIFICATION.

In the event that any Registrable Securities are
included in a Registration Statement under this Agreement:

(a)           To
the extent permitted by law, the Company shall indemnify and hold harmless each
Holder, the officers, directors, employees, agents and representatives of such
Holder, and each person, if any, who controls such Holder within the meaning of
the Securities Act or the Securities Exchange Act of 1934, as amended (the “Exchange Act”), against any losses,
claims, damages, liabilities or reasonable out-of-pocket expenses (whether
joint or several) (collectively, including reasonable legal expenses or other
expenses reasonably incurred in connection with investigating or defending
same, “Losses”), insofar as any such
Losses arise out of or are based upon (i) any untrue statement or alleged
untrue statement of a material fact contained in such Registration Statement
under which such Registrable Securities were registered, including any
preliminary prospectus or final prospectus contained therein or any amendments
or supplements thereto, or (ii) the omission or alleged omission to state
therein a material fact required to be stated therein, or necessary to make the
statements therein, in light of the circumstances under which they were made,
not misleading.  Subject to the
provisions of Section 5(c) below, the
Company will reimburse such Holder, and each such officer, director, employee,
agent, representative or controlling person, for any reasonable legal expenses
or other out-of-pocket expenses as reasonably incurred by any such entity or
person in connection with investigating or defending any Loss; provided, however, that the foregoing indemnity shall not
apply to amounts paid in settlement of any Loss if such settlement is effected
without the consent of the Company (which consent shall not be unreasonably
withheld), nor shall the Company be obligated to indemnify any person for any
Loss to the extent that such Loss arises out of or is based upon (i) any
disclosure or any omission or alleged omission (to state a material fact
required to be stated therein or necessary to make statements therein not
misleading) that is based upon or in conformity with written information
furnished (or not furnished, in the case of an omission) by such person
expressly for use in such Registration Statement or (ii) a failure of such
person to deliver or cause to be delivered the final prospectus contained in
the Registration Statement and made available by the Company, if such delivery
is required by applicable law.

(b)           To
the extent permitted by law, each Holder who is named in such Registration
Statement as a selling shareholder, acting severally and not jointly, shall
indemnify and hold harmless the Company, the officers, directors, employees,
agents and representatives of the Company, and each person, if any, who
controls the Company within the meaning of the Securities Act or the Exchange
Act, against any Losses to the extent (and only to the extent) that any such
Losses arise out of or are based upon (i) any disclosure or any omission or
alleged omission (to state a material fact required to be stated therein or
necessary to make statements therein not misleading) that is based upon or in
conformity with written information furnished (or not furnished, in the case of
an omission) by such person expressly for use in such Registration Statement,
or (ii) a failure of such Holder to deliver or cause to be delivered the final
prospectus contained in the Registration 

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Statement and made available by the Company, if such
delivery is required under applicable law. Subject to the provisions of Section 5(c) below, such Holder will
reimburse any legal or other expenses as reasonably incurred by the Company and
any such officer, director, employee, agent, representative, or controlling
person, in connection with investigating or defending any such Loss; provided, however, that the foregoing indemnity shall not
apply to amounts paid in settlement of any such Loss if such settlement is
effected without the consent of such Holder (which consent shall not be
unreasonably withheld); and provided, further,
that, in no event shall any indemnity under this Section
5(b) exceed the net proceeds resulting from the sale of the
Registrable Securities sold by such Holder under such Registration Statement.

(c)           Promptly
after receipt by an indemnified party under this Section 5 of notice of the
commencement of any action (including any governmental action), such
indemnified party will, if a claim in respect thereof is to be made against any
indemnifying party under this Section 5, promptly deliver to the
indemnifying party a written notice of the commencement thereof and the
indemnifying party shall have the right to participate in and to assume the
defense thereof with counsel selected by the indemnifying party and reasonably
acceptable to the indemnified party; provided, however,
that an indemnified party shall have the right to retain its own counsel, with
the reasonably incurred fees and expenses of one such counsel for all
indemnified parties to be paid by the indemnifying party, if representation of
such indemnified party by the counsel retained by the indemnifying party would
be inappropriate under applicable standards of professional conduct due to
actual or potential conflicting interests between such indemnified party and
any other party represented by such counsel in such proceeding.  The failure to deliver written notice to the
indemnifying party within a reasonable time of the delivery of notice of any
such action, to the extent prejudicial to its ability to defend such action,
shall relieve such indemnifying party of any liability to the indemnified party
under this Section 5 with respect to such action, but the omission so to
deliver written notice to the indemnifying party will not relieve it of any
liability that it may have to any indemnified party otherwise than under this
Section 5 or with respect to any other action unless the indemnifying party is
materially prejudiced as a result of not receiving such notice.

(d)           In
the event that the indemnity provided in Sections 5(a) or
5(b) is unavailable or insufficient
to hold harmless an indemnified party for any reason, the Company and each
Holder agree, severally and not jointly, to contribute to the aggregate Losses
to which the Company or such Holder may be subject in such proportion as is
appropriate to reflect the relative fault of the Company and such Holder in
connection with the statements or omissions which resulted in such Losses; provided, however, that in no case shall such Holder be
responsible for any amount in excess of the net proceeds resulting from the
sale of the Registrable Securities sold by it under the Registration
Statement.  Relative fault shall be determined
by reference to whether any alleged untrue statement or omission relates to
information provided by the Company or by such Holder.  The Company and each Holder agree that it
would not be just and equitable if contribution were determined by pro rata allocation or any other method of
allocation which does not take account of the equitable considerations referred
to above.  Notwithstanding the provisions
of this Section 5(d), no person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) shall be entitled to contribution from any person who is
not guilty of such fraudulent misrepresentation.  For purposes of this Section 5, each person
who controls a Holder within the meaning of either the Securities Act or the
Exchange Act and each officer, director, employee, agent or representative of
such Holder shall have the same rights to contribution as such 

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Holder, and each person who controls the Company
within the meaning of either the Securities Act or the Exchange Act and each
officer, director, employee, agent or representative of the Company shall have
the same rights to contribution as the Company, subject in each case to the
applicable terms and conditions of this Section 5(d).

(e)           The
obligations of the Company and each Holder under this Section 5 shall
survive the conversion of the Note and exercise of the Warrants in full, the
completion of any offering or sale of Registrable Securities pursuant to a
Registration Statement under this Agreement, or otherwise.

6.             REPORTS.

With a view to making available to each Holder the benefits of Rule 144
and any other similar rule or regulation of the Commission that may at any time
permit such Holder to sell securities of the Company to the public without
registration, the Company agrees to:

(a)           make
and keep public information available, as those terms are understood and
defined in Rule 144;

(b)           file
with the Commission in a timely manner all reports and other documents required
of the Company under the Exchange Act; and

(c)           furnish
to such Holder, so long as such Holder owns any Registrable Securities,
promptly upon written request (i) a written statement by the Company, if true,
that it has complied with the reporting requirements of Rule 144 and the
Exchange Act, (ii) to the extent not publicly available through the Commission’s
EDGAR database, a copy of the most recent annual or quarterly report of the
Company and such other reports and documents so filed by the Company with the
Commission, and (iii) such other information as may be reasonably requested by
such Holder in connection with such Holder’s compliance with any rule or
regulation of the Commission which permits the selling of any such securities
without registration.

7.             MISCELLANEOUS.

(a)           Expenses
of Registration.  Except as otherwise
provided in the Securities Purchase Agreement, all reasonable expenses, other
than underwriting discounts and commissions and fees and expenses of counsel
and other advisors to each Holder, incurred in connection with the
registrations, filings or qualifications described herein, including (without
limitation) all registration, filing and qualification fees, printers’ and
accounting fees, the fees and disbursements of counsel for the Company, and the
fees and disbursements incurred in connection with the opinion and letter
described in Section 3(g) hereof, shall be
borne by the Company.  Except as
otherwise agreed to by such Holder, the Company shall maintain in strict
confidence, all information with respect to such Holder.

(b)           Amendment;
Waiver.  Except as expressly provided herein, neither this Agreement nor any
term hereof may be amended or waived except pursuant to a written instrument
executed by the Company and the Holders of at least two-thirds (2/3) of the Registrable
Securities into 

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which all of the Note and Warrants then outstanding
are convertible or exercisable (without regard to any limitation on such
conversion or exercise). Any amendment or
waiver effected in accordance with this Section
6(b) shall be binding upon
each Holder, each future Holder and the Company.  The failure of any party to exercise any
right or remedy under this Agreement or otherwise, or the delay by any party in
exercising such right or remedy, shall not operate as a waiver thereof.

(c)           Notices.  Any notices, consents, waivers or other
communications required or permitted to be given under the terms of this
Agreement must be in writing and will be deemed to have been delivered: (i)
upon receipt, when delivered personally; (ii) upon receipt, when sent by
facsimile (provided confirmation of transmission is mechanically or
electronically generated and kept on file by the sending party); or (iii) one
Business Day after deposit with an overnight courier service, in each case
properly addressed to the party to receive the same. The addresses and
facsimile numbers for such communications shall be:

if to the Company:

 

Earth Biofuels, Inc.

3001 Knox Street, Suite 403,

Dallas, Texas 75205

Telephone: 214.389.9800

Facsimile: 214.389.9806

Attention: Dennis McLaughlin

 

with a copy (for
informational purposes only) to:

 

Scheef & Stone, LLP

Telephone: 214.706.4200

Facsimile: 214.706.4242

Attention: Roger A. Crabb, Esq.

and if to the
Holder, to the address and facsimile number as to which the Holder has notified
the Company in writing. Written confirmation of receipt (A) given by the
recipient of such notice, consent, waiver or other communication, (B)
mechanically or electronically generated by the sender’s facsimile machine
containing the time, date, recipient facsimile number and an image of the first
page of such transmission or (C) provided by an overnight courier service shall
be rebuttable evidence of personal service, receipt by facsimile or receipt
from an overnight courier service in accordance with clause (i), (ii) or (iii)
above, respectively.

(d)           Assignment.  Upon the transfer of any Note, Warrants or
Registrable Securities by a Holder, the rights of such Holder hereunder with
respect to such securities so transferred shall be assigned automatically to
the transferee thereof, and such transferee shall thereupon be deemed to be a “Holder”
for purposes of this Agreement, as long as: (i) the Company is, within a
reasonable period of time following such transfer, furnished with written
notice of the name and address of such transferee, (ii) the transferee agrees
in writing with the Company to be bound by all of the provisions hereof, and
(iii) such transfer is made in accordance with the applicable requirements of
the Securities Purchase Agreement, the Notes or the Warrants, as applicable.

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(e)           Counterparts.  This Agreement may be executed in
counterparts, each of which shall be deemed an original, and all of which
together shall be deemed one and the same instrument.  This Agreement, once executed by a party, may
be delivered to any other party hereto by facsimile transmission.

(f)            Governing
Law.  This Agreement shall be
governed by and construed in accordance with the laws of the State of New York
applicable to contracts made and to be performed entirely within the State of
New York.

(g)           Holder of Record.  A person is deemed to be a Holder whenever
such person owns or is deemed to own of record such Registrable
Securities.  If the Company receives
conflicting instructions, notices or elections from two or more persons with
respect to the same Registrable Securities, the Company shall act upon the
basis of instructions, notice or election received from the record owner of
such Registrable Securities.

(h)           Entire Agreement.
 This Agreement and the other Transaction
Documents constitute the entire agreement among the parties hereto with respect
to the subject matter hereof and thereof. 
There are no restrictions, promises, warranties or undertakings, other
than those set forth or referred to herein and therein.  This Agreement and the other Transaction Documents
supersede all prior agreements and understandings among the parties hereto with
respect to the subject matter hereof and thereof.

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

(j)            Third Party
Beneficiaries.  This
Agreement is intended for the benefit of the parties hereto and their
respective permitted successors and assigns, and is not for the benefit of, nor
may any provision hereof be enforced by, any other person.

[Signature Pages to Follow]

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

	
  EARTH BIOFUELS, INC.

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Dennis G. McLaughlin, III

  	
   

  	
   

  	
   

  
	
   

  	
  Name: Dennis G. McLaughlin, III

  	
   

  	
   

  	
   

  
	
   

  	
  Title: Chief Executive Officer

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  EVOLUTION MASTER FUND LTD.

     SPC, SEGREGATED PORTFOLIO M

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Adrian Brindle

  	
   

  	
   

  	
   

  
	
   

  	
  Name: Adrian Brindle

  	
   

  	
   

  	
   

  
	
   

  	
  Title: DirectorEXHIBIT
10.34

REGISTRATION
RIGHTS AGREEMENT

This REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of June 2,
2006, is made by and between Earth Biofuels, Inc., a Delaware corporation (the “Company”), and Marc Weill (the “Investor”).

WHEREAS:

A.            In
connection with the Convertible Promissory Note in the principal amount of $500,000
of even date herewith by and between the Company and the Investor (the “Note”), the Company has agreed to
issue to the Investor shares of the Company’s common stock (the “Common Stock”) upon the terms and
subject to the limitations and conditions set forth in the Note; and

B.            To
induce the Investor to execute the Note, the Company has agreed to provide
certain registration rights under the Securities Act of 1933, as amended, and
the rules and regulations thereunder (collectively, the “1933 Act”), and applicable state
securities laws;

NOW,
THEREFORE, in
consideration of the premises and the mutual covenants contained herein and
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Company and the Investor hereby agree as follows:

1.             DEFINITIONS.

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

(i)            “Investor”
means the Investor and any transferee or assignee who agrees to become bound by
the provisions of this Agreement in accordance with Section 9 hereof.

(ii)           “register,” “registered,” and “registration” refer to a
registration effected by preparing and filing a Registration Statement in compliance
with the 1933 Act and pursuant to Rule 415 under the 1933 Act or any successor
rule providing for offering securities on a continuous basis (“Rule 415”), and the declaration of
effectiveness of such Registration Statement by the United States Securities
and Exchange Commission (the “SEC”).

(iii)         “Registrable Securities”
means the all of the shares of Common Stock issued or issuable upon conversion
pursuant to the Note.

(iv)          “Registration Statement”
means a registration statement of the Company under the 1933 Act.

 

 

2.             REGISTRATION.

a.             Mandatory
Registration.  The Investor shall be entitled to make
written request for registration of the Registrable Securities, no later than
90 days following conversion of the Note. 
Provided that the Investor has made a timely request therefore, the
Company shall effect the registration of the Registrable Securities.  Within forty-five (45) days of receipt of written
request from the Investor, the Company shall file with the SEC a Registration
Statement to effect the registration of the Registrable Securities that the
Company has been requested to register for disposition as described in the
request of the Investor.

b.             Piggy-Back
Registrations.  Subject to the last sentence of this Section
2(b), if at any time prior to the expiration of the Registration Period (as
hereinafter defined) the Company shall determine to file with the SEC a
Registration Statement relating to an offering for its own account or the
account of others under the 1933 Act of any of its equity securities (other
than on Form S-4 or Form S-8 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), the Company shall send to the Investor written notice of such
determination and, if within fifteen (15) days after the effective date of such
notice, the Investor shall so request in writing, the Company shall include in
such Registration Statement all or any part of the Registrable Securities the Investor
requests to be registered.  If an
offering in connection with which the Investor is entitled to registration
under this Section 2(b) is an underwritten offering, then the Investor shall,
unless otherwise agreed by the Company, offer and sell such Registrable
Securities in an underwritten offering using the same underwriter or
underwriters and, subject to the provisions of this Agreement, on the same
terms and conditions as other shares of Common Stock included in such
underwritten offering.  Notwithstanding
anything to the contrary set forth herein, the registration rights of the Investor
pursuant to this Section 2(b) shall only be available in the event the Company
fails to timely file, obtain effectiveness or maintain effectiveness of any
Registration Statement to be filed pursuant to Section 2(a) in accordance with
the terms of this Agreement.

c.             Eligibility
for Form SB-2.  The Company represents and warrants that it
meets the requirements for the use of SB-2 for registration of the sale by the Investor
of the Registrable Securities.   The
Company agrees to file all reports required to be filed by the Company with the
SEC in a timely manner so as to remain eligible or become eligible, as the case
may be, and thereafter to maintain its eligibility, for the use of Form SB-2.

3.             OBLIGATIONS
OF THE COMPANY.

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

a.             The Company shall keep the Registration Statement
effective pursuant to Rule 415 at all times until such date as is the earlier
of (i) the date on which all of the Registrable Securities have been sold and
(ii) the date on which the Registrable Securities (in the opinion of counsel to
the Investor) may be immediately sold to the public without registration or
restriction (including, without limitation, as to volume by the holder thereof)
under the 1933 Act (the “Registration Period”),
which Registration Statement (including any amendments or

 2
 

 

supplements thereto and
prospectuses contained therein) shall not 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.

b.             The Company shall prepare and file with the
SEC such amendments (including post-effective amendments) and supplements to
the Registration Statement and the prospectus used in connection with the
Registration Statement as may be necessary to keep the Registration Statement
effective at all times during the Registration Period, and, during such period,
comply with the provisions of the 1933 Act with respect to the disposition of
all Registrable Securities of the Company covered by the Registration Statement
until such time as all of such Registrable Securities have been disposed of in
accordance with the intended methods of disposition thereof as set forth in the
Registration Statement.

c.             The Company shall furnish to the Investor (i) promptly
(but in no event more than two (2) business days) after the same is prepared
and publicly distributed, filed with the SEC, or received by the Company, one
copy of each Registration Statement and any amendment thereto, each preliminary
prospectus and prospectus and each amendment or supplement thereto, and (ii) promptly
(but in no event more than two (2) business days) after the Registration
Statement is declared effective by the SEC, such number of copies of a
prospectus, including a preliminary prospectus, and all amendments and
supplements thereto and such other documents as the Investor may reasonably
request in order to facilitate the disposition of the Registrable Securities
owned by the Investor.  The Company will
immediately notify the Investor by facsimile of the effectiveness of each Registration
Statement or any post-effective amendment. 
The Company will promptly (but in no event more than five (5) business
days) respond to any and all comments received from the SEC (which comments
shall promptly be made available to the Investor upon request), with a view
towards causing each Registration Statement or any amendment thereto to be
declared effective by the SEC as soon as practicable, shall promptly file an
acceleration request as soon as practicable (but in no event more than two (2)
business days) following the resolution or clearance of all SEC comments or, if
applicable, following notification by the SEC that any such Registration
Statement or any amendment thereto will not be subject to review and shall
promptly file with the SEC a final prospectus as soon as practicable (but in no
event more than two (2) business days) following receipt by the Company from
the SEC of an order declaring the Registration Statement effective.

d.             The Company shall use reasonable efforts to (i) register
and qualify the Registrable Securities covered by the Registration Statement
under such other securities or “blue sky” laws of such jurisdictions in the
United States as the Investor reasonably requests, (ii) prepare and file
in those jurisdictions such amendments (including post-effective amendments)
and supplements to such registrations and qualifications as may be necessary to
maintain the effectiveness thereof during the Registration Period, (iii) take
such other actions as may be necessary to maintain such registrations and
qualifications in effect at all times during the Registration Period, and (iv) take
all other actions reasonably necessary or advisable to qualify the Registrable
Securities for sale in such jurisdictions; provided, however,
that the Company shall not be required in connection therewith or as a
condition thereto to (a) qualify to do business in any jurisdiction where
it would not otherwise be required to qualify but for this Section 3(d), (b) subject
itself to general taxation in any such jurisdiction, (c) file a general

 3
 

 

consent to service of
process in any such jurisdiction, or (d) provide any undertakings that
cause the Company undue expense or burden.

e.             As promptly as practicable after becoming
aware of such event, the Company shall notify the Investor of the happening of
any event, of which the Company has knowledge, as a result of which the
prospectus included in any Registration Statement, as then in effect, includes
an untrue statement of a material fact or omission to state a material fact
required to be stated therein or necessary to make the statements therein not
misleading, and use its best efforts promptly to prepare a supplement or
amendment to any Registration Statement to correct such untrue statement or
omission, and deliver such number of copies of such supplement or amendment to the
Investor as the Investor may reasonably request.

f.              The Company shall use its best efforts to
prevent the issuance of any stop order or other suspension of effectiveness of
any Registration Statement, and, if such an order is issued, to obtain the
withdrawal of such order at the earliest possible moment and to notify the Investor
of the issuance of such order and the resolution thereof.

g.             The Company shall take all other reasonable
actions necessary to expedite and facilitate disposition by the Investor of
Registrable Securities pursuant to a Registration Statement.

4.             OBLIGATIONS
OF THE INVESTOR.

In
connection with the registration of the Registrable Securities, the Investor
shall have the following obligations:

a.             The Investor shall furnish to the Company
such information regarding himself, the Registrable Securities held by him and
the intended method of disposition of the Registrable Securities held by him as
shall be reasonably required to effect the registration of such Registrable
Securities and shall execute such documents in connection with such
registration as the Company may reasonably request.  At least three (3) business days prior to the
first anticipated filing date of the Registration Statement, the Company shall
notify the Investor of the information the Company requires from the Investor.

b.             The Investor agrees to cooperate with the
Company as reasonably requested by the Company in connection with the
preparation and filing of the Registration Statement hereunder.

c.             The Investor agrees that, upon receipt of any
notice from the Company of the happening of any event of the kind described in
Section 3(e) or 3(f), the Investor will immediately discontinue disposition of
Registrable Securities pursuant to the Registration Statement covering such
Registrable Securities until the Investor’s receipt of the copies of a
supplemented or amended prospectus and, if so directed by the Company, the Investor
shall deliver to the Company or destroy (and deliver to the Company a
certificate of destruction) all copies in the Investor’ possession, of the
prospectus covering such Registrable Securities current at the time of receipt
of such notice.

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5.             EXPENSES
OF REGISTRATION.

All
reasonable expenses, other than underwriting discounts and commissions,
incurred in connection with registrations, filings or qualifications pursuant
to Sections 2 and 3, including, without limitation, all registration, listing
and qualification fees, printers and accounting fees, and the fees and
disbursements of counsel for the Company, shall be borne by the Company.

6.             INDEMNIFICATION.

In
the event any Registrable Securities are included in a Registration Statement
under this Agreement:

a.             To the extent permitted by law, the Company
will indemnify, hold harmless and defend (i) the Investor who holds such
Registrable Securities and (ii) the directors, officers, partners,
employees, agents and each person who controls the Investor within the meaning
of the 1933 Act or the Securities Exchange Act of 1934, as amended (the “1934 Act”), if any, (each, an “Indemnified Person”), against any
joint or several losses, claims, damages, liabilities or expenses
(collectively, together with actions, proceedings or inquiries by any regulatory
or self-regulatory organization, whether commenced or threatened, in respect
thereof, “Claims”) to which any of them
may become subject insofar as such Claims arise out of or are based upon: (i)
any untrue statement or alleged untrue statement of a material fact in a
Registration Statement or the omission or alleged omission to state therein a
material fact required to be stated or necessary to make the statements therein
not misleading; (ii) any untrue statement or alleged untrue statement of a
material fact contained in any preliminary prospectus if used prior to the
effective date of such Registration Statement, or contained in the final
prospectus (as amended or supplemented, if the Company files any amendment
thereof or supplement thereto with the SEC) or the omission or alleged omission
to state therein any material fact necessary to make the statements made
therein, in light of the circumstances under which the statements therein were
made, not misleading; or (iii) any violation or alleged violation by the
Company of the 1933 Act, the 1934 Act, any other law, including, without
limitation, any state securities law, or any rule or regulation thereunder
relating to the offer or sale of the Registrable Securities (the matters in the
foregoing clauses (i) through (iii) being, collectively, “Violations”).  The Company shall reimburse the Indemnified
Person, promptly as such expenses are incurred and are due and payable, for any
reasonable legal fees or other reasonable expenses incurred by the Indemnified
Person in connection with investigating or defending any such Claim.  Notwithstanding anything to the contrary
contained herein, the indemnification agreement contained in this Section 6(a):
(i) shall not apply to a Claim arising out of or based upon a Violation which
occurs in reliance upon and in conformity with information furnished in writing
to the Company by any Indemnified Person expressly for use in connection with
the preparation of such Registration Statement or any such amendment thereof or
supplement thereto, if such prospectus was timely made available by the Company
pursuant to Section 3(c) hereof; (ii) shall not apply to amounts paid in
settlement of any Claim if such settlement is effected without the prior
written consent of the Company, which consent shall not be unreasonably
withheld; and (iii) with respect to any preliminary prospectus, shall not inure
to the benefit of any Indemnified Person if the untrue statement or omission of
material fact contained in the preliminary prospectus was corrected on a timely
basis in the prospectus, as then amended or supplemented, such corrected
prospectus was timely made available by the Company pursuant to Section 3(c)
hereof, and the Indemnified Person was promptly advised in writing not to use
the incorrect prospectus prior to the use giving rise to a Violation and such

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Indemnified Person,
notwithstanding such advice, used it. 
Such indemnity shall remain in full force and effect regardless of any
investigation made by or on behalf of the Indemnified Person.

b.             In connection with any Registration Statement
in which the Investor are participating, the Investor agrees to indemnify, hold
harmless and defend, to the same extent and in the same manner set forth in
Section 6(a), the Company, each of its directors, each of its officers who
signs the Registration Statement, each person, if any, who controls the Company
within the meaning of the 1933 Act or the 1934 Act, any underwriter and any
other shareholder selling securities pursuant to the Registration Statement or
any of its directors or officers or any person who controls such shareholder or
underwriter within the meaning of the 1933 Act or the 1934 Act (collectively
and together with an Indemnified Person, an “Indemnified
Party”), against any Claim to which any of them may become
subject, under the 1933 Act, the 1934 Act or otherwise, insofar as such Claim
arises out of or is based upon any Violation by such Investor, in each case to
the extent (and only to the extent) that such Violation occurs in reliance upon
and in conformity with written information furnished to the Company by such
Investor expressly for use in connection with such Registration Statement; and such
Investor will reimburse any legal or other expenses (promptly as such expenses
are incurred and are due and payable) reasonably incurred by them in connection
with investigating or defending any such Claim; provided, however,
that the indemnity agreement contained in this Section 6(b) shall not apply to
amounts paid in settlement of any Claim if such settlement is effected without
the prior written consent of such Investor, which consent shall not be
unreasonably withheld; provided, further, however, that such
Investor shall be liable under this Agreement (including this Section 6(b) and
Section 7) for only that amount as does not exceed the net proceeds to such
Investor as a result of the sale of Registrable Securities pursuant to such
Registration Statement.  Notwithstanding
anything to the contrary contained herein, the indemnification agreement
contained in this Section 6(b) with respect to any preliminary prospectus shall
not inure to the benefit of any Indemnified Party if the untrue statement or
omission of material fact contained in the preliminary prospectus was corrected
on a timely basis in the prospectus, as then amended or supplemented.

c.             Promptly after receipt by an Indemnified
Person or Indemnified Party under this Section 6 of notice of the commencement
of any action (including any governmental action), such Indemnified Person or
Indemnified Party shall, if a Claim in respect thereof is to be made against
any indemnifying party under this Section 6, deliver to the indemnifying party
a written notice of the commencement thereof, and the indemnifying party shall
have the right to participate in, and, to the extent the indemnifying party so
desires, jointly with any other indemnifying party similarly noticed, to assume
control of the defense thereof with counsel mutually satisfactory to the
indemnifying party and the Indemnified Person or the Indemnified Party, as the
case may be; provided, however, that an Indemnified Person or
Indemnified Party shall have the right to retain its own counsel with the fees
and expenses to be paid by the indemnifying party, if, in the reasonable opinion
of counsel retained by the indemnifying party, the representation by such
counsel of the Indemnified Person or Indemnified Party and the indemnifying
party would be inappropriate due to actual or potential differing interests
between such Indemnified Person or Indemnified Party and any other party
represented by such counsel in such proceeding. 
The indemnifying party shall pay for only one separate legal counsel for
the Indemnified Persons or the Indemnified Parties, as applicable, and such
legal counsel shall be selected by the Investor if the Investor is entitled to
indemnification

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hereunder, or the Company,
if the Company is entitled to indemnification hereunder, as applicable.  The failure to deliver written notice to the
indemnifying party within a reasonable time of the commencement of any such
action shall not relieve such indemnifying party of any liability to the
Indemnified Person or Indemnified Party under this Section 6, except to the
extent that the indemnifying party is actually prejudiced in its ability to
defend such action.  The indemnification
required by this Section 6 shall be made by periodic payments of the amount
thereof during the course of the investigation or defense, as such expense,
loss, damage or liability is incurred and is due and payable.

7.             CONTRIBUTION.

To
the extent any indemnification by an indemnifying party is prohibited or
limited by law, the indemnifying party agrees to make the maximum contribution
with respect to any amounts for which it would otherwise be liable under
Section 6 to the fullest extent permitted by law; provided, however,
that (i) no contribution shall be made under circumstances where the maker
would not have been liable for indemnification under the fault standards set
forth in Section 6, (ii) no seller of Registrable Securities guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933
Act) shall be entitled to contribution from any seller of Registrable
Securities who was not guilty of such fraudulent misrepresentation, and (iii)contribution
(together with any indemnification or other obligations under this Agreement)
by any seller of Registrable Securities shall be limited in amount to the net
amount of proceeds received by such seller from the sale of such Registrable
Securities.

8.             REPORTS
UNDER THE 1934 ACT.

With
a view to making available to the Investor the benefits of Rule 144 promulgated
under the 1933 Act or any other similar rule or regulation of the SEC that may
at any time permit the Investor to sell securities of the Company to the public
without registration (“Rule 144”),
the Company agrees to:

a.             make and keep public information available,
as those terms are understood and defined in Rule 144;

b.             file with the SEC in a timely manner all
reports and other documents required of the Company under the 1933 Act and the
1934 Act so long as the Company remains subject to such requirements and the
filing of such reports and other documents is required for the applicable
provisions of Rule 144; and

c.             furnish to the Investor so long as the Investor
owns Registrable Securities, promptly upon request, (i) a written
statement by the Company that it has complied with the reporting requirements
of Rule 144, the 1933 Act and the 1934 Act, (ii) a copy of the most recent
annual or quarterly report of the Company and such other reports and documents
so filed by the Company, and (iii) such other information as may be
reasonably requested to permit the Investor to sell such securities pursuant to
Rule 144 without registration.

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9.             ASSIGNMENT
OF REGISTRATION RIGHTS.

The
rights under this Agreement shall be automatically assignable by the Investor
to any transferee of all or any portion of the Note if: (i) the Investor
agrees in writing with the transferee or assignee to assign such rights, and a
copy of such agreement is furnished to the Company within a reasonable time
after such assignment, (ii) the Company is, within a reasonable time after
such transfer or assignment, furnished with written notice of the name and
address of such transferee or assignee, (iii) at or before the time the Company
receives the written notice contemplated by clause (ii) of this sentence, the
transferee or assignee agrees in writing with the Company to be bound by all of
the provisions contained herein, and (iv) such transferee shall be an “accredited investor” as that term
defined in Rule 501 of Regulation D promulgated under the 1933 Act.

10.          AMENDMENT
OF REGISTRATION RIGHTS.

Provisions
of this Agreement may be amended and the observance thereof may be waived
(either generally or in a particular instance and either retroactively or
prospectively), only with written consent of the Company and the Investor.  Any amendment or waiver effected in
accordance with this Section 10 shall be binding upon the Investor and the
Company.

11.          MISCELLANEOUS.

a.             A person or entity is deemed to be a holder
of Registrable Securities whenever such person or entity owns of record such
Registrable Securities.  If the Company
receives conflicting instructions, notices or elections from two or more
persons or entities with respect to the same Registrable Securities, the
Company shall act upon the basis of instructions, notice or election received
from the registered owner of such Registrable Securities.

b.             All notices and other communications
hereunder shall be in writing or by telecopy, and shall be deemed to have been
duly made when delivered in person or sent by telecopy, same day or overnight
courier, or 72 hours after having been deposited in the United States
registered or certified mail return receipt requested, postage prepaid, to a
party at the address set forth below (which may be changed in accordance with
these notice procedures):

If to
the Company:

Earth Biofuels, Inc.

3001 Knox Street, Suite 403

Dallas, TX 75205

Fax Number: (214) 389-9805

Attention:  Chief Executive Officer

With a copy to:

Roger A. Crabb

Scheef & Stone, LLP

5956 Sherry Lane, Suite 1400

Dallas, TX  75225

Fax
number:  (214) 706-4242

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If to the Investor:

Marc Weill

440
Roundhill Road

Greenwich,
CT  06831-2639

Fax number: (203) 629-0679

c.             Failure of any party to exercise any right or
remedy under this Agreement or otherwise, or delay by a party in exercising
such right or remedy, shall not operate as a waiver thereof.

d.              This Agreement shall be governed by and
construed in accordance with the laws of the State of Texas.  In the event of a dispute involving this
Agreement or any other instruments executed in connection herewith, the parties
irrevocably agree that exclusive venue for such dispute shall lie in any court
of competent jurisdiction in Dallas County, Texas, and the parties waive any
claim that such forum is inappropriate or inconvenient.

e.             In the event that any provision of this
Agreement is invalid or unenforceable under any applicable statute or rule of
law, then such provision shall be deemed inoperative to the extent that it may
conflict therewith and shall be deemed modified to conform with such statute or
rule of law.  Any provision hereof which
may prove invalid or unenforceable under any law shall not affect the validity
or enforceability of any other provision hereof.

f.              This Agreement constitutes the entire
agreement among the parties hereto with respect to the subject matter
hereof.  There are no restrictions,
promises, warranties or undertakings, other than those set forth or referred to
herein and therein.  This Agreement
supersedes all prior agreements and understandings among the parties hereto
with respect to the subject matter hereof.

g.             Subject to the requirements of Section 9 hereof,
this Agreement shall be binding upon and inure to the benefit of the parties
and their successors and assigns.

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

i.              This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original but all of which shall
constitute one and the same agreement and shall become effective when
counterparts have been signed by each party and delivered to the other parties.  This Agreement, once executed by a party, may
be delivered to the other parties hereto by facsimile transmission of a copy of
this Agreement bearing the signature of the party so delivering this Agreement.

j.              Each party shall do and perform, or cause to
be done and performed, all such further acts and things, and shall execute and
deliver all such other agreements, certificates, instruments and documents, as
the other parties may reasonably request in order to carry out the intent and
accomplish the purposes of this Agreement and the consummation of the
transactions contemplated hereby.

 9
 

 

IN WITNESS WHEREOF, the Company and the Investor have caused this Agreement to be duly
executed as of the date first above written.

	
  EARTH BIOFUELS, INC.

  
	
   

  
	
   

  
	
  By:

  	
  /s/ DENNIS G. MCLAUGHLIN, III

  	
   

  
	
  Name:

  	
  Dennis G. McLaughlin, III

  
	
  Title:

  	
  Chief Executive Officer

  
	
   

  
	
   

  
	
  MARC WEILL

  
	
   

  
	
   

  
	
  /s/ MARC WEILL

  	
   

  
	
  Marc Weill, individually

  
				

 

 10

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