Document:

Exhibit
      10(bb)

     

    REGISTRATION
      RIGHTS AGREEMENT 

    DATED
      AS OF JUNE 29, 2007

     

    
      
        
          
          

        

        
          
          

          
            

          

        

         

      

    

    

    TABLE
      OF CONTENTS

     

    
      
        	 	 	 	
                Page

              
	 	 	 	 
	 Article
                I DEFINITIONS	
                1

              
	
                Section
                  1.01

              	 	
                Definitions

              	
                1

              
	
                Section
                  1.02

              	 	
                Registrable
                  Securities

              	
                3

              
	 Article
                II REGISTRATION RIGHTS	
                3

              
	
                Section
                  2.01

              	 	
                Registration

              	
                3

              
	
                Section
                  2.02

              	 	
                Piggyback
                  Rights

              	
                5

              
	
                Section
                  2.03

              	 	
                Underwritten
                  Offering

              	
                7

              
	
                Section
                  2.04

              	 	
                Sale
                  Procedures

              	
                8

              
	
                Section
                  2.05

              	 	
                Cooperation
                  by Holders

              	
                12

              
	
                Section
                  2.06

              	 	
                Restrictions
                  on Public Sale by Holders of Registrable Securities

              	
                12

              
	
                Section
                  2.07

              	 	
                Expenses

              	
                12

              
	
                Section
                  2.08

              	 	
                Indemnification

              	
                13

              
	
                Section
                  2.09

              	 	
                Rule
                  144 Reporting

              	
                15

              
	
                Section
                  2.10

              	 	
                Transfer
                  or Assignment of Registration Rights

              	
                15

              
	
                Section
                  2.11

              	 	
                Limitation
                  on Subsequent Registration Rights

              	
                16

              
	
                 Article
                  III MISCELLANEOUS

              	
                16

              
	
                Section
                  3.01

              	 	
                Communications

              	
                16

              
	
                Section
                  3.02

              	 	
                Successor
                  and Assigns

              	
                16

              
	
                Section
                  3.03

              	 	
                Aggregation
                  of Purchased Class D Units and Purchased Units

              	
                16

              
	
                Section
                  3.04

              	 	
                Recapitalization,
                  Exchanges, Etc. Affecting the Units

              	
                16

              
	
                Section
                  3.05

              	 	
                Change
                  of Control

              	
                17

              
	
                Section
                  3.06

              	 	
                Specific
                  Performance

              	
                17

              
	
                Section
                  3.07

              	 	
                Counterparts.

              	
                17

              
	
                Section
                  3.08

              	 	
                Headings

              	
                17

              
	
                Section
                  3.09

              	 	
                Governing
                  Law

              	
                
                  18

                

              
	
                Section
                  3.10

              	 	
                Severability
                  of Provisions

              	
                
                  18

                

              
	
                Section
                  3.11

              	 	
                Entire
                  Agreement

              	
                
                  18

                

              
	
                Section
                  3.12

              	 	
                Amendment

              	
                
                  18

                

              
	
                Section
                  3.13

              	 	
                No
                  Presumption

              	
                18

              
	
                Section
                  3.14

              	 	
                Obligations
                  Limited to Parties to Agreement

              	
                18

              

      

    

     

    
      
        
          
          

        

        
          
          

          
            

          

        

         

      

    

     

    REGISTRATION
      RIGHTS AGREEMENT

     

    THIS
      REGISTRATION RIGHTS AGREEMENT (this “Agreement”)
      is
      made and entered into as of June 29, 2007 by and among Atlas Energy Resources,
      LLC, a Delaware limited liability company (“Atlas
      Energy”),
      and
      each of the Purchasers set forth in Exhibit
      A
      (each, a
“Purchaser”
and,
      collectively, the “Purchasers”).

     

    WHEREAS,
      this Agreement is made in connection with the Closing of the issuance and sale
      of the Purchased Class D Units and the Purchased Units pursuant to the Class
      D
      Unit and Common Unit Purchase Agreement, dated as of May 18, 2007, by and among
      Atlas Energy and the Purchasers (the “Purchase
      Agreement”);

     

    WHEREAS,
      Atlas Energy has agreed to provide the registration and other rights set forth
      in this Agreement for the benefit of the Purchasers pursuant to the Purchase
      Agreement; and

     

    WHEREAS,
      it is a condition to the obligations of each Purchaser and Atlas Energy under
      the Purchase Agreement that this Agreement be executed and
      delivered.

     

    NOW
      THEREFORE, in consideration of the mutual covenants and agreements set forth
      herein and for good and valuable consideration, the receipt and sufficiency
      of
      which are hereby acknowledged by each party hereto, the parties hereby agree
      as
      follows:

     

    ARTICLE
      I

    DEFINITIONS

     

    Section
      1.01 Definitions. 
      Capitalized terms used herein without definition shall have the meanings given
      to them in the Purchase Agreement.  The terms set forth below are used
      herein as so defined:

     

    “Agreement”
has
      the
      meaning specified therefor in the introductory paragraph.

     

    “Atlas
      Energy”
has
      the
      meaning specified therefor in the introductory paragraph.

     

    “Effectiveness
      Period”
has
      the
      meaning specified therefor in Section
      2.01(a)(i)
      of this
      Agreement.

     

    “File
      Date”
has
      the
      meaning specified therefor in Section
      2.01(a)(i)
      of this
      Agreement.

     

    “Holder”
means
      the record holder of any Registrable Securities.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    “Included
      Registrable Securities”
has
      the
      meaning specified therefor in Section
      2.02(a)
      of this
      Agreement.

     

    “Liquidated
      Damages”
has
      the
      meaning specified therefor in Section
      2.01(a)(ii)
      of this
      Agreement.

     

    “Liquidated
      Damages Multiplier”
means
      the product of $25.00 times the number of Class D Units and Purchased Units
      purchased by such Purchaser.

     

    “Losses”
has
      the
      meaning specified therefor in Section
      2.08
      of this
      Agreement.

     

    “Managing
      Underwriter”
means,
      with respect to any Underwritten Offering, the book-running lead manager of
      such
      Underwritten Offering.

     

    “Opt
      Out Notice”
has
      the
      meaning specified therefor in Section
      2.02(a)
      of this
      Agreement.

     

    “Purchase
      Agreement”
has
      the
      meaning specified therefor in the recitals of this Agreement. 

     

    “Purchaser”
and
      “Purchasers”
have
      the meanings specified therefor in the introductory paragraph of this
      Agreement.

     

    “Purchaser
      Underwriter Registration Statement”
has
      the
      meaning specified therefor in Section
      2.04(n)
      of this
      Agreement.

     

    “Registrable
      Securities”
means:
      (i) the Purchased Units, (ii) Purchased Class D Units, (iii) the
      Common Units issuable upon conversion of the Purchased Class D Units, (iii)
      any
      Common Units or Class D Units issued as Liquidated Damages pursuant to this
      Agreement, (iv) any Common Units issuable upon conversion of Class D Units
      issued as Liquidated Damages pursuant to this Agreement, (v) any Common Units
      or
      Class D Units issuable pursuant to Section 5.02 of the Purchase Agreement,
      and
      (vi) any Common Units issuable upon conversion of Class D Units issuable
      pursuant to Section 5.02 of the Purchase Agreement, all of which Registrable
      Securities are subject to the rights provided herein until such rights terminate
      pursuant to the provisions hereof.

     

    “Registration
      Expenses”
has
      the
      meaning specified therefor in Section
      2.07(a)
      of this
      Agreement.

     

    
      
        
        

      

      
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    “Registration
      Statement”
has
      the
      meaning specified therefor in Section
      2.01(a)(i)
      of this
      Agreement.

     

    “Selling
      Expenses”
has
      the
      meaning specified therefor in Section
      2.07(a)
      of this
      Agreement.

     

    “Selling
      Holder”
means
      a
      Holder who is selling Registrable Securities pursuant to a registration
      statement.

     

    “Target
      Effective Date”
has
      the
      meaning specified therefor in Section
      2.01(a)(i)
      of this
      Agreement.

     

    “Underwritten
      Offering”
means
      an offering (including an offering pursuant to a Registration Statement) in
      which Units are sold to an underwriter on a firm commitment basis for reoffering
      to the public or an offering that is a “bought deal” with one or more investment
      banks.

     

    Section
      1.02 Registrable
      Securities. 
      Any Registrable Security will cease to be a Registrable Security when: (a)
      a
      registration statement covering such Registrable Security is effective and
      such
      Registrable Security has been sold or disposed of pursuant to such effective
      registration statement; (b) such Registrable Security has been disposed of
      pursuant to any section of Rule 144 (or any similar provision then in force)
      under the Securities Act; (c) two years after the Closing Date; (d) such
      Registrable Security is held by Atlas Energy or one of its Subsidiaries; or
      (e)
      such Registrable Security has been sold in a private transaction in which the
      transferor’s rights under this Agreement are not assigned to the transferee of
      such securities.

     

    ARTICLE
      II

    REGISTRATION
      RIGHTS 

     

    Section
      2.01 Registration.

     

    (a) Registration.

     

    (i) Deadline
      To File and Go Effective. 
      As soon as practicable following January 1, 2008, but in any event prior to
      January 31, 2008 (the “File
      Date”),
      Atlas
      Energy shall prepare and file a registration statement under the Securities
      Act
      to permit the resale of the Registrable Securities from time to time, including
      as permitted by Rule 415 under the Securities Act (or any similar provision
      then
      in force), with respect to all of the Registrable Securities (the “Registration
      Statement”). 
      Atlas Energy shall use its commercially reasonable efforts to cause the
      Registration Statement to become effective no later than May 30, 2008 (the
      “Target
      Effective Date”). 
      A Registration Statement filed pursuant to this Section
      2.01
      shall be
      on Form S-3 under the Securities Act.  Atlas Energy will use its
      commercially reasonable efforts to cause the Registration Statement filed
      pursuant to this Section
      2.01
      to be
      continuously effective under the Securities Act until the earlier of (i) the
      date as of which all such Registrable Securities are sold by the Purchasers
      and
      (ii) two years following the Closing Date (the “Effectiveness
      Period”). 
      The Registration Statement when effective (including the documents incorporated
      therein by reference) shall comply as to form with all applicable requirements
      of the Securities Act and the Exchange Act and shall not contain an untrue
      statement of a material fact or omit to state a material fact required to be
      stated therein or necessary to make the statements therein not
      misleading.

     

    
      
        
        

      

      
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    (ii) Failure
      To Go Effective. 
      If the Registration Statement required by Section
      2.01
      is not
      effective by the Target Effective Date, then each Purchaser shall be entitled
      to
      a payment with respect to such Purchaser’s Registrable Securities, as liquidated
      damages and not as a penalty, of 0.25% of the Liquidated Damages Multiplier
      per
      30-day period for the first 30 days following the Target Effective Date,
      increasing by an additional 0.25% of the Liquidated Damages Multiplier per
      30-day period for each subsequent 30 days, up to a maximum of 1.00% of the
      Liquidated Damages Multiplier per 30-day period (the “Liquidated
      Damages”). 
      The Liquidated Damages payable pursuant to the immediately preceding sentence
      shall be payable within ten Business Days of the end of each such 30-day
      period.  Liquidated Damages for any period of less than 30-days shall be
      prorated by multiplying Liquidated Damages to be paid in a full 30-day period
      by
      a fraction, the numerator of which is the number of days for which Liquidated
      Damages are owed, and the denominator of which is 30. Any Liquidated Damages
      shall be paid to each Purchaser in cash or immediately available funds;
provided,
      however,
      if
      Atlas Energy certifies that it is unable to pay Liquidated Damages in cash
      or
      immediately available funds because such payment would result in a breach under
      any of Atlas Energy’s or Atlas Energy’s Subsidiaries’ credit facilities or other
      indebtedness filed as exhibits to the Atlas Energy SEC Documents, then Atlas
      Energy may pay the Liquidated Damages in kind in the form of the issuance of
      additional (A) Common Units or (B) Common Units or Class D
      Units.  Class D Units may only be issued as Liquidated Damages if and to
      the extent Atlas Energy is restricted from issuing Common Units pursuant to
      the
      rules of The New York Stock Exchange or similar regulation.  If Class D
      Units are issued as Liquidated Damages as a result of a requirement by The
      New
      York Stock Exchange or similar regulation, then such Common Units and/or Class
      D
      Units will be issued to each Purchaser on a pro rata basis in such a manner
      as
      to maximize the number of Common Units issued to each such Purchaser.  Upon
      any issuance of Common Units and/or Class D Units as Liquidated Damages, Atlas
      Energy shall promptly prepare and file an amendment to the Registration
      Statement prior to its effectiveness adding such Common Units and/or Common
      Units issuable upon conversion of Class D Units to such Registration Statement
      as additional Registrable Securities.  The determination of the number of
      Common Units and Class D Units to be issued as Liquidated Damages shall be
      equal
      to the amount of Liquidated Damages divided by the volume weighted average
      closing price of the Common Units (as reported by The New York Stock Exchange)
      for the ten trading days immediately preceding the date on which the Liquidated
      Damages payment is due, less a discount of 2%.  Any obligation of Atlas
      Energy to pay Liquidated Damages (other than Liquidated Damages owing but not
      yet paid) to a Purchaser shall cease two years following the Closing Date. 
As soon as practicable following the date that the Registration Statement or
      any
      post-effective amendment thereto becomes effective, but in any event within
      two
      Business Days of such date, Atlas Energy shall provide the Purchasers with
      written notice of the effectiveness of the Registration Statement.

     

    
      
        
        

      

      
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    (iii) Waiver
      of Liquidated Damages. 
      If Atlas Energy is unable to cause a Registration Statement to become effective
      by the Target Effective Date as a result of an acquisition, merger,
      reorganization, disposition or other similar transaction, then Atlas Energy
      may
      request a waiver of the Liquidated Damages, which may be granted or withheld
      by
      the consent of the Holders of two-thirds of the aggregate of the Purchased
      Class
      D Units and the Purchased Units, voting as a single class, in their sole
      discretion.  

     

    (b) Delay
      Rights. 
      Notwithstanding anything to the contrary contained herein, Atlas Energy may,
      upon written notice to all of the Selling Holders whose Registrable Securities
      are included in the Registration Statement, suspend such Selling Holders’ use of
      any prospectus which is a part of the Registration Statement (in which event
      each such Selling Holder shall discontinue sales of the Registrable Securities
      pursuant to the Registration Statement) but such Selling Holder may settle
      any
      sales of Registrable Securities, if (i) Atlas Energy is pursuing an acquisition,
      merger, reorganization, disposition or other similar transaction and Atlas
      Energy determines in good faith that Atlas Energy’s ability to pursue or
      consummate such a transaction would be materially adversely affected by any
      required disclosure of such transaction in the Registration Statement or (ii)
      Atlas Energy has experienced some other material non-public event, the
      disclosure of which at such time, in the good faith judgment of Atlas Energy,
      would materially adversely affect Atlas Energy; provided,
      however,
      in no
      event shall such Selling Holders be suspended from selling Registrable
      Securities pursuant to the Registration Statement for a period that exceeds
      an
      aggregate of 30 days in any 90-day period or 90 days in any 365-day
      period.  Upon disclosure of such information or the termination of the
      condition described above, Atlas Energy shall (i) provide prompt notice to
      the
      Selling Holders whose Registrable Securities are included in the Registration
      Statement, (ii) promptly terminate any suspension of sales it has put into
      effect and (iii) take such other actions to permit sales of Registrable
      Securities as contemplated in this Agreement.

     

    (c) Additional
      Rights to Liquidated Damages. 
      If (i) the Holders shall be prohibited from selling their Registrable Securities
      under the Registration Statement as a result of a suspension pursuant to
Section
      2.01(b)
      of this
      Agreement in excess of the periods permitted therein or (ii) the Registration
      Statement is filed and effective but, during the Effectiveness Period, shall
      thereafter cease to be effective or fail to be usable for its intended purpose
      without being succeeded by a post-effective amendment to the Registration
      Statement, a supplement to the prospectus or a report filed with the Commission
      pursuant to Section 13(a), 13(c), 14 or l5(d) of the Exchange Act, then, until
      the suspension is lifted or a post-effective amendment, supplement or report
      is
      filed with the Commission and effective, but not including any day on which
      a
      suspension is lifted or such amendment, supplement or report is filed and
      effective, if applicable, Atlas Energy shall owe the Holders an amount equal
      to
      the Liquidated Damages, following (x) the date on which the suspension period
      exceeded the permitted period under Section
      2.01(b)
      of this
      Agreement or (y) the date after the Registration Statement ceased to be
      effective or failed to be useable for its intended purposes, as liquidated
      damages and not as a penalty.  For purposes of this Section
      2.01(c),
      a
      suspension shall be deemed lifted on the date that notice that the suspension
      has been lifted or that a post-effective amendment is effective is delivered
      to
      the Holders pursuant to Section
      3.01
      of this
      Agreement.

     

    (d) S-1
      Filing.
      In
      addition to the rights provided in Section 2.01(a), if Atlas Energy is not
      eligible to file a shelf registration statement on Form S-3 on the File Date,
      one or more Holders collectively holding greater than $25 million of Registrable
      Securities, based on the Average Purchase Price, may thereafter deliver written
      notice to Atlas Energy that such Holders wish to register under the Securities
      Act an aggregate of at least $25 million of Registrable Securities, based on
      the
      Average Purchase Price specifying the amount and intended method of disposition
      of such Registrable Securities. Atlas Energy will promptly give written notice
      of such requested registration to all other Holders, and thereupon will, as
      expeditiously as possible, use its reasonable best efforts to effect the
      registration under the Securities Act of (i) such Registrable Securities which
      the Company has been so requested to register by the such Holders; and (ii)
      all
      other Registrable Securities which Atlas Energy has been requested to register
      by any other Holder (which request shall specify the amount and intended method
      of disposition of such Registrable Securities, including an Underwritten
      Offering) to the extent necessary to permit the disposition (in accordance
      with
      the intended method thereof as aforesaid) of the Registrable Securities so
      to be
      registered.

     

    
      
        
        

      

      
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    Section
      2.02 Piggyback
      Rights.

     

    (a) Participation. 
      If
      at any time Atlas Energy proposes to file (i) a shelf registration statement
      other than the Registration Statement (in which event Atlas Energy covenants
      and
      agrees to include thereon a description of the transaction under which the
      Purchasers acquired the Registrable Securities) and a prospectus supplement
      related to such shelf registration, (ii) a prospectus supplement to an effective
      shelf registration statement, other than the Registration Statement contemplated
      by Section
      2.01
      of this Agreement
      and Holders may be included without the filing of a post-effective amendment
      thereto, or
      (iii)
      a registration statement, other than a shelf registration statement, in any
      case, for the sale of Common Units in an Underwritten Offering for its own
      account and/or another Person, then as soon as practicable but not less than
      three Business Days prior to the filing of (x) any preliminary prospectus
      supplement relating to such Underwritten Offering pursuant to Rule 424(b) under
      the Securities Act, (y) the prospectus supplement relating to such Underwritten
      Offering pursuant to Rule 424(b) under the Securities Act (if no preliminary
      prospectus supplement is used) or (z) such registration statement (only in
      respect of clause (iii) above for purposes of this clause (z)), as the case
      may
      be, then Atlas Energy shall give notice (including, but not limited to,
      notification by electronic mail) of such proposed Underwritten Offering to
      the
      Holders and such notice shall offer the Holders the opportunity to include
      in
      such Underwritten Offering such number of Common
      Units (the “Included
      Registrable Securities”)
      as
      each such Holder may request in writing; provided,
      however,
      that if
      Atlas Energy has been advised by the Managing Underwriter that the inclusion
      of
      Registrable Securities for sale for the benefit of the Holders will have a
      material adverse effect on the price, timing or distribution of the Common
      Units
      in the Underwritten Offering, then the amount of Registrable Securities to
      be
      offered for the accounts of Holders shall be determined based on the provisions
      of Section
      2.02(b)
      of this
      Agreement.  The notice required to be provided in this Section
      2.02(a)
      to
      Holders shall be provided on a Business Day pursuant to Section
      3.01
      hereof
      and receipt of such notice shall be confirmed by such Holder.  Each such
      Holder shall then have three Business Days after receiving such notice to
      request inclusion of Registrable Securities in the Underwritten Offering. 
If no request for inclusion from a Holder is received within the specified
      time,
      such Holder shall have no further right to participate in such Underwritten
      Offering.  If, at any time after giving written notice of its intention to
      undertake an Underwritten Offering and prior to the closing of such Underwritten
      Offering, Atlas Energy shall determine for any reason not to undertake or to
      delay such Underwritten Offering, Atlas Energy may, at its election, give
      written notice of such determination to the Selling Holders and, (x) in the
      case
      of a determination not to undertake such Underwritten Offering, shall be
      relieved of its obligation to sell any Included Registrable Securities in
      connection with such terminated Underwritten Offering, and (y) in the case
      of a
      determination to delay such Underwritten Offering, shall be permitted to delay
      offering any Included Registrable Securities for the same period as the delay
      in
      the Underwritten Offering.  Any Selling Holder shall have the right to
      withdraw such Selling Holder’s request for inclusion of such Selling Holder’s
      Registrable Securities in such offering by giving written notice to Atlas Energy
      of such withdrawal up to and including the time of pricing of such
      offering.  Each Holder’s rights under this Section
      2.02(a)
      shall
      terminate when such Holder (together with any Affiliates of such Holder) holds
      less than $15 million, in aggregate, of Registrable Securities, based on the
      Average Purchase Price.  Notwithstanding the foregoing, any Holder may
      deliver written notice (an “Opt
      Out Notice”)
      to
      Atlas Energy requesting that such Holder not receive notice from Atlas Energy
      of
      any proposed Underwritten Offering; provided,
      that
      such Holder may later revoke any such notice.

     

    
      
        
        

      

      
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    (b) Priority
      of Rights. 
      If the Managing Underwriter or Underwriters of any proposed Underwritten
      Offering of Common Units included in an Underwritten Offering involving Included
      Registrable Securities advises Atlas Energy, or Atlas Energy reasonably
      determines, that the total amount of Registrable Securities that the Selling
      Holders and any other Persons intend to include in such offering exceeds the
      number that can be sold in such offering without being likely to have a material
      adverse effect on the price, timing or distribution of the Common Units offered
      or the market for the Common Units, then the Registrable Securities to be
      included in such Underwritten Offering shall include the number of Registrable
      Securities that such Managing Underwriter or Underwriters advises Atlas Energy,
      or Atlas Energy reasonably determines, can be sold without having such adverse
      effect, with such number to be allocated (i) first, to Atlas Energy, and (ii)
      second, pro rata among the Selling Holders who have requested participation
      in
      such Underwritten Offering.  The pro rata allocations for each such Selling
      Holder shall be the product of (a) the aggregate number of Registrable
      Securities proposed to be sold by all Selling Holders in such Underwritten
      Offering multiplied by (b) the fraction derived by dividing (x) the number
      of
      Registrable Securities owned on the Closing Date by such Selling Holder by
      (y)
      the aggregate number of Registrable Securities owned on the Closing Date by
      all
      Selling Holders participating in the Underwritten Offering.  All
      participating Selling Holders shall have the opportunity to share pro rata
      that
      portion of such priority allocable to any Selling Holder(s) not so
      participating.

     

    Section
      2.03 Underwritten
      Offering. 

     

    (a) Request
      for Underwritten Offering.
      In the
      event that one or more Holders collectively holding greater than $75 million
      of
      Registrable Securities, based on the Average Purchase Price, elect to dispose
      of
      Registrable Securities under the Registration Statement (including a
      registration statement pursuant to Section 2.01(d)) pursuant to an Underwritten
      Offering, Atlas Energy shall retain underwriters, effect such sale though an
      Underwritten Offering, including entering into an underwriting agreement in
      customary form with the Managing Underwriter or Underwriters, which shall
      include, among other provisions, indemnities to the effect and to the extent
      provided in Section 2.08 and take all reasonable actions as are requested by
      the
      Managing Underwriter or Underwriters to expedite or facilitate the disposition
      of such Registrable Securities. Atlas Energy management shall participate in
      a
      roadshow or similar marketing effort on behalf of any such Holder or Holders
      if
      gross proceeds from such Underwritten Offering are reasonably expected to exceed
      $75 million. 

     

    
      
        
        

      

      
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    (b) Limitation
      on Underwritten Offerings.
      In
      connection with any and all rights granted hereunder to the Holders to cause
      Atlas Energy to engage underwriters to conduct an Underwritten Offering on
      behalf of the Holders, in no event shall Atlas Energy be required to do more
      than aggregate of four such Underwritten Offerings.

     

    (c) General
      Procedures. 
      In connection with any Underwritten Offering under this Agreement, Atlas Energy
      shall be entitled to select the Managing Underwriter or Underwriters.  In
      connection with an Underwritten Offering contemplated by this Agreement in
      which
      a Selling Holder participates, each Selling Holder and Atlas Energy shall be
      obligated to enter into an underwriting agreement that contains such
      representations, covenants, indemnities and other rights and obligations as
      are
      customary in underwriting agreements for firm commitment offerings of
      securities.  No Selling Holder may participate in such Underwritten
      Offering unless such Selling Holder agrees to sell its Registrable Securities
      on
      the basis provided in such underwriting agreement and completes and executes
      all
      questionnaires, powers of attorney, indemnities and other documents reasonably
      required under the terms of such underwriting agreement.  Each Selling
      Holder may, at its option, require that any or all of the representations and
      warranties by, and the other agreements on the part of, Atlas Energy to and
      for
      the benefit of such underwriters also be made to and for such Selling Holder’s
      benefit and that any or all of the conditions precedent to the obligations
      of
      such underwriters under such underwriting agreement also be conditions precedent
      to its obligations.  No Selling Holder shall be required to make any
      representations or warranties to or agreements with Atlas Energy or the
      underwriters other than representations, warranties or agreements regarding
      such
      Selling Holder and its ownership of the securities being registered on its
      behalf, its intended method of distribution and any other representation
      required by Law.  If any Selling Holder disapproves of the terms of an
      underwriting, such Selling Holder may elect to withdraw therefrom by notice
      to
      Atlas Energy and the Managing Underwriter; provided,
      however,
      that
      such withdrawal must be made at a time up to and including the time of pricing
      of such Underwritten Offering.  No such withdrawal or abandonment shall
      affect Atlas Energy’s obligation to pay Registration Expenses.

     

    Section
      2.04 Sale
      Procedures. 
      In connection with its obligations under this Article II, Atlas Energy will,
      as
      expeditiously as possible:

     

    (a) 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
      cause the Registration Statement to be effective and to keep the Registration
      Statement effective for the Effectiveness Period and as may be necessary to
      comply with the provisions of the Securities Act with respect to the disposition
      of all securities covered by the Registration Statement;

     

    (b) furnish
      to each Selling Holder (i) as far in advance as reasonably practicable before
      filing the Registration Statement or any other registration statement
      contemplated by this Agreement or any supplement or amendment thereto, upon
      request, copies of reasonably complete drafts of all such documents proposed
      to
      be filed (including exhibits and each document incorporated by reference therein
      to the extent then required by the rules and regulations of the Commission),
      and
      provide each such Selling Holder the opportunity to object to any information
      pertaining to such Selling Holder and its plan of distribution that is contained
      therein and make the corrections reasonably requested by such Selling Holder
      with respect to such information prior to filing the Registration Statement
      or
      such other registration statement or supplement or amendment thereto, and (ii)
      such number of copies of the Registration Statement or such other registration
      statement and the prospectus included therein and any supplements and amendments
      thereto as such Persons may reasonably request in order to facilitate the public
      sale or other disposition of the Registrable Securities covered by such
      Registration Statement or other registration statement;

     

    
      
        
        

      

      
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    (c) if
      applicable, use its commercially reasonable efforts to register or qualify
      the
      Registrable Securities covered by the Registration Statement or any other
      registration statement contemplated by this Agreement under the securities
      or
      blue sky laws of such jurisdictions as the Selling Holders or, in the case
      of an
      Underwritten Offering, the Managing Underwriter, shall reasonably request;
      provided,
      however,
      that
      Atlas Energy will not be required to qualify generally to transact business
      in
      any jurisdiction where it is not then required to so qualify or to take any
      action which would subject it to general service of process in any such
      jurisdiction where it is not then so subject;

     

    (d) promptly
      notify each Selling Holder and each underwriter of Registrable Securities,
      at
      any time when a prospectus relating thereto is required to be delivered by
      any
      of them under the Securities Act, of (i) the filing of the Registration
      Statement or any other registration statement contemplated by this Agreement
      or
      any prospectus to be used in connection therewith, or any amendment or
      supplement thereto, and, with respect to such Registration Statement or any
      other registration statement or any post-effective amendment thereto, when
      the
      same has become effective; and (ii) any written comments from the Commission
      with respect to any filing referred to in clause (i) and any written request
      by
      the Commission for amendments or supplements to the Registration Statement
      or
      any other registration statement or any prospectus or prospectus supplement
      thereto;

     

    (e) immediately
      notify each Selling Holder and each underwriter of Registrable Securities,
      at
      any time when a prospectus relating thereto is required to be delivered under
      the Securities Act, of (i) the happening of any event as a result of which
      the
      prospectus or prospectus supplement contained in the Registration Statement
      or
      any other registration statement contemplated by this Agreement, as then in
      effect, includes an untrue statement of a material fact or omits to state any
      material fact required to be stated therein or necessary to make the statements
      therein not misleading in the light of the circumstances then existing; (ii)
      the
      issuance or threat of issuance by the Commission of any stop order suspending
      the effectiveness of the Registration Statement or any other registration
      statement contemplated by this Agreement, or the initiation of any proceedings
      for that purpose; or (iii) the receipt by Atlas Energy of any notification
      with
      respect to the suspension of the qualification of any Registrable Securities
      for
      sale under the applicable securities or blue sky laws of any jurisdiction. 
Following the provision of such notice, Atlas Energy agrees to as promptly
      as
      practicable amend or supplement the prospectus or prospectus supplement or
      take
      other appropriate action so that the prospectus or prospectus supplement does
      not include an untrue statement of a material fact or omit to state a material
      fact required to be stated therein or necessary to make the statements therein
      not misleading in the light of the circumstances then existing and to take
      such
      other action as is necessary to remove a stop order, suspension, threat thereof
      or proceedings related thereto;

     

    
      
        
        

      

      
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    (f) upon
      request and subject to appropriate confidentiality obligations, furnish to
      each
      Selling Holder copies of any and all transmittal letters or other correspondence
      with the Commission or any other governmental agency or self-regulatory body
      or
      other body having jurisdiction (including any domestic or foreign securities
      exchange) relating to such offering of Registrable Securities;

     

    (g) in
      the
      case of an Underwritten Offering, furnish upon request, (i) an opinion of
      counsel for Atlas Energy dated the effective date of the applicable registration
      statement or the date of any amendment or supplement thereto, and a letter
      of
      like kind dated the date of the closing under the underwriting agreement, and
      (ii) a “cold comfort” letter, dated the date of the applicable registration
      statement or the date of any amendment or supplement thereto and a letter of
      like kind dated the date of the closing under the underwriting agreement, in
      each case, signed by the independent public accountants who have certified
      Atlas
      Energy’s financial statements included or incorporated by reference into the
      applicable registration statement, and each of the opinion and the “cold
      comfort” letter shall be in customary form and covering substantially the same
      matters with respect to such registration statement (and the prospectus and
      any
      prospectus supplement included therein) as are customarily covered in opinions
      of issuer’s counsel and in accountants’ letters delivered to the underwriters in
      Underwritten Offerings of securities and such other matters as such underwriters
      or Selling Holders may reasonably request;

     

    (h) otherwise
      use its commercially reasonable efforts to comply with all applicable rules
      and
      regulations of the Commission, and make available to its security holders,
      as
      soon as reasonably practicable, an earnings statement, which earnings statement
      shall satisfy the provisions of Section 11(a) of the Securities Act and Rule
      158
      promulgated thereunder;

     

    (i) make
      available to the appropriate representatives of the Managing Underwriter and
      Selling Holders access to such information and Atlas Energy personnel as is
      reasonable and customary to enable such parties to establish a due diligence
      defense under the Securities Act; provided,
      however,
      that
      Atlas Energy need not disclose any such information to any such representative
      unless and until such representative has entered into or is otherwise subject
      to
      a confidentiality agreement with Atlas Energy satisfactory to Atlas Energy
      (including any confidentiality agreement referenced in Section 8.06 of the
      Purchase Agreement);

     

    (j) cause
      all
      such Registrable Securities registered pursuant to this Agreement to be listed
      on each securities exchange or nationally recognized quotation system on which
      similar securities issued by Atlas Energy are then listed;

     

    (k) use
      its
      commercially reasonable efforts to cause the Registrable Securities to be
      registered with or approved by such other governmental agencies or authorities
      as may be necessary by virtue of the business and operations of Atlas Energy
      to
      enable the Selling Holders to consummate the disposition of such Registrable
      Securities;

     

    
      
        
        

      

      
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    (l) provide
      a
      transfer agent and registrar for all Registrable Securities covered by such
      registration statement not later than the effective date of such registration
      statement;

     

    (m) enter
      into customary agreements and take such other actions as are reasonably
      requested by the Selling Holders or the underwriters, if any, in order to
      expedite or facilitate the disposition of such Registrable
      Securities;

     

    (n) If
      any
      Purchaser could reasonably be deemed to be an “underwriter,” as defined in
      Section 2(a)(11) of the Securities Act, in connection with the registration
      statement in respect of any registration of Registrable Securities of such
      Purchaser pursuant to this Agreement, and any amendment or supplement thereof
      (any such registration statement or amendment or supplement, a “Purchaser
      Underwriter Registration Statement”),
      then
      for a period of two years following the File Date, Atlas Energy will cooperate
      with such Purchaser in allowing such Purchaser to conduct customary
“underwriter’s due diligence” with respect to Atlas Energy and satisfy its
      obligations in respect thereof.  In addition, for a period of one year
      following the File Date at any Purchaser’s request, Atlas Energy will furnish to
      such Purchaser, on the date of the effectiveness of any Purchaser Underwriter
      Registration Statement and thereafter no more often than on a quarterly basis,
      (i) a letter, dated such date, from Atlas Energy’s independent certified public
      accountants in form and substance as is customarily given by independent
      certified public accountants to underwriters in an underwritten public offering,
      addressed to such Purchaser, (ii) an opinion, dated as of such date, of counsel
      representing Atlas Energy for purposes of such Purchaser Underwriter
      Registration Statement, in form, scope and substance as is customarily given
      in
      an underwritten public offering, including a standard “10b-5” opinion for such
      offering, addressed to such Purchaser and (iii) a standard officer’s certificate
      from the Chief Executive Officer and Chief Financial Officer of Atlas Energy
      addressed to such Purchaser.  Atlas Energy will also permit one legal
      counsel to such Purchaser(s) to review and comment upon any such Purchaser
      Underwriter Registration Statement at least five Business Days prior to its
      filing with the Commission and all amendments and supplements to any such
      Purchaser Underwriter Registration Statement within a reasonable number of
      days
      prior to their filing with the Commission and not file any Purchaser Underwriter
      Registration Statement or amendment or supplement thereto in a form to which
      such Purchaser’s legal counsel reasonably objects;

     

    (o) Each
      Selling Holder, upon receipt of notice from Atlas Energy of the happening of
      any
      event of the kind described in Section
      2.04(e)
      of this
      Agreement, shall forthwith discontinue disposition of the Registrable Securities
      until such Selling Holder’s receipt of the copies of the supplemented or amended
      prospectus contemplated by Section
      2.04(e)
      of this
      Agreement or until it is advised in writing by Atlas Energy that the use of
      the
      prospectus may be resumed and has received copies of any additional or
      supplemental filings incorporated by reference in the prospectus, and, if so
      directed by Atlas Energy, such Selling Holder will, or will request the managing
      underwriter or underwriters, if any, to deliver to Atlas Energy (at Atlas
      Energy’s expense) all copies in their possession or control, other than
      permanent file copies then in such Selling Holder’s possession, of the
      prospectus covering such Registrable Securities current at the time of receipt
      of such notice; 

     

    (p) If
      requested by a Purchaser, Atlas Energy shall: (i) as soon as practicable
      incorporate in a prospectus supplement or post-effective amendment such
      information as such Purchaser reasonably requests to be included therein
      relating to the sale and distribution of Registrable Securities, including
      information with respect to the number of Registrable Securities being offered
      or sold, the purchase price being paid therefor and any other terms of the
      offering of the Registrable Securities to be sold in such offering; (ii) as
      soon
      as practicable make all required filings of such prospectus supplement or
      post-effective amendment after being notified of the matters to be incorporated
      in such prospectus supplement or post-effective amendment; and (iii) as soon
      as
      practicable, supplement or make amendments to any Registration Statement;
      and

     

    
      
        
        

      

      
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    (q) Include
      in the plan of distribution section of a registrations statement the following
      language with respect to the selling unitholders:

     

    “The
      selling unitholders may enter into derivative transactions with third parties,
      or sell securities not covered by this prospectus to third parties in privately
      negotiated transactions. If the applicable prospectus supplement indicates,
      in
      connection with those derivatives, the third parties may sell securities covered
      by this prospectus and the applicable prospectus supplement, including in short
      sale transactions. If so, the third party may use securities pledged by the
      selling unitholders or borrowed from the selling unitholders or others to settle
      those sales or to close out any related open borrowings of Units, and may use
      securities received from the selling unitholders in settlement of those
      derivatives to close out any related open borrowings of Units.”

     

    Section
      2.05 Cooperation
      by Holders. 
      Atlas Energy shall have no obligation to include in the Registration Statement
      Registrable Securities of a Holder, or in an Underwritten Offering pursuant
      to
Section
      2.02
      Registrable Securities of a Selling Holder, who has failed to timely furnish
      such information that Atlas Energy determines, after consultation with counsel,
      is reasonably required to be furnished or conformed in order for the
      registration statement or prospectus supplement, as applicable, to comply with
      the Securities Act.

     

    Section
      2.06 Restrictions
      on Public Sale by Holders of Registrable Securities.
       For a period of 365 days from the Closing Date, each Holder of Registrable
      Securities agrees not to effect any public sale or distribution of the
      Registrable Securities for a period of up to 30 days following completion of
      an
      Underwritten Offering of equity securities by Atlas Energy (except as provided
      in this Section
      2.06);
      provided,
      however,
      that
      the duration of the foregoing restrictions shall be no longer than the duration
      of the shortest restriction generally imposed by the underwriters on the
      officers or directors or any other Unitholder of Atlas Energy on whom a
      restriction is imposed in connection with such public offering.  In
      addition, the provisions of this Section
      2.06
      shall
      not apply with respect to a Holder that (A) owns less than $25 million, in
      aggregate, of Registrable Securities based on the Average Purchase Price or
      (B)
      has delivered an Opt Out Notice to Atlas Energy pursuant to Section
      2.02(a)
      hereof;
      provided,
      however,
      the
      above shall not apply, in the case of a Purchaser that is a large multi-unit
      investment or commercial banking organization, to activities in the normal
      course of trading of units of such Purchaser other than the unit participating
      in this transaction so long as such other units are not acting on behalf of
      the
      unit participating in this transaction and have not been provided with
      confidential information regarding Atlas Energy by the unit participating in
      this transaction; provided
      further,
      with
      respect to Goldman, Sachs & Co., the restrictions contained in this
Section
      2.06
      shall
      only apply to the Goldman Sachs Principal Strategies Group, as currently
      configured, and shall not restrict or limit the activities of any area or
      division of Goldman, Sachs & Co. or any of its Affiliates, other than
      Goldman Sachs Principal Strategies Group, as currently configured.

     

    
      
        
        

      

      
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    Section
      2.07 Expenses.

     

    (a) Certain
      Definitions. 
      “Registration
      Expenses”
means
      all expenses incident to Atlas Energy’s performance under or compliance with
      this Agreement to effect the registration of Registrable Securities on the
      Registration Statement pursuant to Section
      2.01
      hereof
      or an Underwritten Offering covered under this Agreement, and the disposition
      of
      such securities, including, without limitation, all registration, filing,
      securities exchange listing and The New York Stock Exchange fees, all
      registration, filing, qualification and other fees and expenses of complying
      with securities or blue sky laws, fees of the National Association of Securities
      Dealers, Inc., transfer taxes and fees of transfer agents and registrars, all
      word processing, duplicating and printing expenses and the fees and
      disbursements of one counsel to the Holders and independent public accountants
      for Atlas Energy, including the expenses of any special audits or “cold comfort”
letters required by or incident to such performance and compliance. 
“Selling
      Expenses”
means
      all underwriting fees, discounts and selling commissions allocable to the sale
      of the Registrable Securities.

     

    (b) Expenses. 
      Atlas Energy will pay all reasonable Registration Expenses as determined in
      good
      faith, including, in the case of an Underwritten Offering, whether or not any
      sale is made pursuant to such Underwritten Offering.  In addition, except
      as otherwise provided in Section
      2.08
      hereof,
      Atlas Energy shall not be responsible for legal fees incurred by Holders in
      connection with the exercise of such Holders’ rights hereunder.  Each
      Selling Holder shall pay its pro rata share of all Selling Expenses in
      connection with any sale of its Registrable Securities hereunder.

     

    Section
      2.08 Indemnification.

     

    (a) By
      Atlas Energy. 
      In the event of an offering of any Registrable Securities under the Securities
      Act pursuant to this Agreement, Atlas Energy will indemnify and hold harmless
      each Selling Holder thereunder, its Affiliates that own Registrable Securities
      and their respective directors and officers, and each underwriter, pursuant
      to
      the applicable underwriting agreement with such underwriter, of Registrable
      Securities thereunder and each Person, if any, who controls such Selling Holder
      or underwriter within the meaning of the Securities Act and the Exchange Act,
      and its directors and officers (collectively, the “Selling
      Holder Indemnified Persons”),
      against any losses, claims, damages, expenses or liabilities (including
      reasonable attorneys’ fees and expenses) (collectively, “Losses”),
      joint
      or several, to which such Selling Holder Indemnified Person may become subject
      under the Securities Act, the Exchange Act or otherwise, insofar as such Losses
      (or actions or proceedings, whether commenced or threatened, in respect thereof)
      arise out of or are based upon any untrue statement or alleged untrue statement
      of any material fact contained in the Registration Statement or any other
      registration statement contemplated by this Agreement, any preliminary
      prospectus, free writing prospectus or final prospectus contained therein,
      or
      any amendment or supplement thereof, 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 (in the case of a
      prospectus, in light of the circumstances under which they were made) not
      misleading or arise out of or are based upon a Selling Holder being deemed
      to be
      an “underwriter,” as defined in Section 2(a)(11) of the Securities Act, in
      connection with the registration statement in respect of any registration of
      Atlas Energy’s securities, and will reimburse each such Selling Holder
      Indemnified Person for any legal or other expenses reasonably incurred by them
      in connection with investigating or defending any such Loss or actions or
      proceedings; provided,
      however,
      that
      Atlas Energy will not be liable in any such case if and to the extent that
      any
      such Loss arises out of or is based upon an untrue statement or alleged untrue
      statement or omission or alleged omission so made in strict conformity with
      information furnished by such Selling Holder Indemnified Person in writing
      specifically for use in the Registration Statement or such other registration
      statement, or prospectus supplement, as applicable.  Such indemnity shall
      remain in full force and effect regardless of any investigation made by or
      on
      behalf of such Selling Holder or any such Selling Holder, its directors or
      officers or any underwriter or controlling Person, and shall survive the
      transfer of such securities by such Selling Holder.

     

    
      
        
        

      

      
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    (b) By
      Each Selling Holder. 
      Each Selling Holder agrees severally and not jointly to indemnify and hold
      harmless Atlas Energy, its directors and officers, and each Person, if any,
      who
      controls Atlas Energy within the meaning of the Securities Act or of the
      Exchange Act, and its directors and officers, to the same extent as the
      foregoing indemnity from Atlas Energy to the Selling Holders, but only with
      respect to information regarding such Selling Holder furnished in writing by
      or
      on behalf of such Selling Holder expressly for inclusion in the Registration
      Statement or any preliminary prospectus or final prospectus included therein,
      or
      any amendment or supplement thereto; provided,
      however,
      that
      the liability of each Selling Holder shall not be greater in amount than the
      dollar amount of the proceeds (net of any Selling Expenses) received by such
      Selling Holder from the sale of the Registrable Securities giving rise to such
      indemnification.

     

    (c) Notice. 
      Promptly after receipt by an indemnified party hereunder of notice of the
      commencement of any action, such indemnified party shall, if a claim in respect
      thereof is to be made against the indemnifying party hereunder, 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
      any indemnified party other than under this Section
      2.08. 
      In any action brought against any indemnified party, 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 reasonably 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
      2.08
      for any
      legal expenses subsequently incurred by such indemnified party in connection
      with the defense thereof other than reasonable costs of investigation and of
      liaison with counsel so selected; provided,
      however,
      that,
      (i) if the indemnifying party has failed to assume the defense or employ counsel
      reasonably acceptable to the indemnified party or (ii) if the defendants in
      any
      such action include both the indemnified party and the indemnifying party and
      counsel to the indemnified party shall have concluded that there may be
      reasonable defenses available to the indemnified party that 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, then the indemnified party shall have the right
      to
      select a separate counsel and to assume such legal defense and otherwise to
      participate in the defense of such action, with the reasonable expenses and
      fees
      of such separate counsel and other reasonable expenses related to such
      participation to be reimbursed by the indemnifying party as incurred. 
Notwithstanding any other provision of this Agreement, no indemnified party
      shall settle any action brought against it with respect to which it is entitled
      to indemnification hereunder without the consent of the indemnifying party,
      unless the settlement thereof imposes no liability or obligation on, and
      includes a complete and unconditional release from all liability of, the
      indemnifying party.

     

    
      
        
        

      

      
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    (d) Contribution. 
      If the indemnification provided for in this Section
      2.08
      is held
      by a court or government agency of competent jurisdiction to be unavailable
      to
      any indemnified party or is insufficient to hold them harmless in respect of
      any
      Losses, then each such indemnifying party, in lieu of indemnifying such
      indemnified party, shall contribute to the amount paid or payable by such
      indemnified party as a result of such Loss in such proportion as is appropriate
      to reflect the relative fault of the indemnifying party on the one hand and
      of
      such indemnified party on the other in connection with the statements or
      omissions which resulted in such Losses, as well as any other relevant equitable
      considerations; provided,
      however,
      that in
      no event shall such Selling Holder be required to contribute an aggregate amount
      in excess of the dollar amount of proceeds (net of Selling Expenses) received
      by
      such Selling Holder from the sale of Registrable Securities giving rise to
      such
      indemnification.  The relative fault of the indemnifying party on the one
      hand and the indemnified party on the other shall be determined by reference
      to,
      among other things, whether the untrue or alleged untrue statement of a material
      fact or the omission or alleged omission to state a material fact has been
      made
      by, or relates to, information supplied by such party, and the parties’ relative
      intent, knowledge, access to information and opportunity to correct or prevent
      such statement or omission.  The parties hereto agree that it would not be
      just and equitable if contributions pursuant to this paragraph were to be
      determined by pro rata allocation or by any other method of allocation which
      does not take account of the equitable considerations referred to herein. 
The amount paid by an indemnified party as a result of the Losses referred
      to in
      the first sentence of this paragraph shall be deemed to include any legal and
      other expenses reasonably incurred by such indemnified party in connection
      with
      investigating or defending any Loss which is the subject of this
      paragraph.  No person guilty of fraudulent misrepresentation (within the
      meaning of Section 11(f) of the Securities Act) shall be entitled to
      contribution from any Person who is not guilty of such fraudulent
      misrepresentation.

     

    (e) Other
      Indemnification. 
      The provisions of this Section
      2.08
      shall be
      in addition to any other rights to indemnification or contribution which an
      indemnified party may have pursuant to law, equity, contract or
      otherwise.

     

    Section
      2.09 Rule
      144 Reporting. 
      With a view to making available the benefits of certain rules and regulations
      of
      the Commission that may permit the sale of the Registrable Securities to the
      public without registration, Atlas Energy agrees to use its commercially
      reasonable efforts to:

     

    (a) make
      and
      keep public information regarding Atlas Energy available, as those terms are
      understood and defined in Rule 144 under the Securities Act, at all times from
      and after the date hereof;

     

    
      
        
        

      

      
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    (b) file
      with
      the Commission in a timely manner all reports and other documents required
      of
      Atlas Energy under the Securities Act and the Exchange Act at all times from
      and
      after the date hereof; and

     

    (c) so
      long
      as a Holder owns any Registrable Securities, furnish, unless otherwise not
      available at no charge by access electronically to the Commission’s EDGAR filing
      system, to such Holder forthwith upon request a copy of the most recent annual
      or quarterly report of Atlas Energy, and such other reports and documents so
      filed as such Holder may reasonably request in availing itself of any rule
      or
      regulation of the Commission allowing such Holder to sell any such securities
      without registration.

     

    Section
      2.10 Transfer
      or Assignment of Registration Rights. 
      The rights to cause Atlas Energy to register Registrable Securities granted
      to
      the Purchasers by Atlas Energy under this Article II may be transferred or
      assigned by any Purchaser to one or more transferee(s) or assignee(s) of such
      Registrable Securities or by total return swap; provided,
      however,
      that,
      except with respect to a total return swap, (a) unless such transferee is an
      Affiliate of such Purchaser or another Purchaser, each such transferee or
      assignee holds Registrable Securities in the amount of $10 million, based on
      the
      Average Purchase Price, (b) Atlas Energy is given written notice prior to any
      said transfer or assignment, stating the name and address of each such
      transferee and identifying the securities with respect to which such
      registration rights are being transferred or assigned, and (c) each such
      transferee assumes in writing responsibility for its portion of the obligations
      of such Purchaser under this Agreement.

     

    Section
      2.11 Limitation
      on Subsequent Registration Rights. 
      From and after the date hereof, Atlas Energy shall not, without the prior
      written consent of the Holders of Registrable Securities, (i) enter into any
      agreement with any current or future holder of any securities of Atlas Energy
      that would allow such current or future holder to require Atlas Energy to
      include securities in any registration statement filed by Atlas Energy on a
      basis that is superior in any way to the piggyback rights granted to the
      Purchasers hereunder or (ii) grant registration rights to any other Person
      that
      would be superior to the Purchasers’ registration rights hereunder.

     

    ARTICLE
      III

    MISCELLANEOUS 

     

    Section
      3.01 Communications. 
      All notices and other communications provided for or permitted hereunder shall
      be made in writing by facsimile, electronic mail, courier service or personal
      delivery:

     

    (a) if
      to
      Atlas Energy, to the address set forth on its signature page; 

     

    (b) if
      to a
      Purchaser, to the address set forth on Exhibit A; and 

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

     

    (c) if
      to a
      transferee of Purchaser, to such Holder at the address provided pursuant to
      Section
      2.10
      hereof.

     

    All
      such
      notices and communications shall be deemed to have been received: at the time
      delivered by hand, if personally delivered; when receipt acknowledged, if sent
      via facsimile or electronic mail; and when actually received, if sent by courier
      service or any other means.

     

    Section
      3.02 Successor
      and Assigns. 
      This Agreement shall inure to the benefit of and be binding upon the successors
      and assigns of each of the parties, including subsequent Holders of Registrable
      Securities to the extent permitted herein.

     

    Section
      3.03 Aggregation
      of Purchased Class D Units and Purchased Units. 
      All Purchased Class D Units and Purchased Units held or acquired by Persons
      who
      are Affiliates of one another shall be aggregated together for the purpose
      of
      determining the availability of any rights under this Agreement. 

     

    Section
      3.04 Recapitalization,
      Exchanges, Etc. Affecting the Units. 
      The provisions of this Agreement shall apply to the full extent set forth herein
      with respect to any and all units of Atlas Energy or any successor or assign
      of
      Atlas Energy (whether by merger, consolidation, sale of assets or otherwise)
      which may be issued in respect of, in exchange for or in substitution of, the
      Registrable Securities, and shall be appropriately adjusted for combinations,
      unit splits, recapitalizations and the like occurring after the date of this
      Agreement, including any issuance pursuant to Section 5.02 of the Purchase
      Agreement.

     

    Section
      3.05 Change of Control.
      Atlas
      Energy shall not merge, consolidate or combine with any other Person unless
      the
      agreement providing for such merger, consolidation or combination expressly
      provides for the continuation of the registration rights specified in this
      Agreement with respect to the Registrable Securities or other equity securities
      issued pursuant to such merger, consolidation or combination.

     

    Section
      3.06 Specific
      Performance. 
      Damages in the event of breach of this Agreement by a party hereto may be
      difficult, if not impossible, to ascertain, and it is therefore agreed that
      each
      such Person, in addition to and without limiting any other remedy or right
      it
      may have, will have the right to an injunction or other equitable relief in
      any
      court of competent jurisdiction, enjoining any such breach, and enforcing
      specifically the terms and provisions hereof, and each of the parties hereto
      hereby waives any and all defenses it may have on the ground of lack of
      jurisdiction or competence of the court to grant such an injunction or other
      equitable relief.  The existence of this right will not preclude any such
      Person from pursuing any other rights and remedies at law or in equity which
      such Person may have.

     

    Section
      3.07 Counterparts. 
      This Agreement may be executed in any number of counterparts and by different
      parties hereto in separate counterparts, each of which counterparts, when so
      executed and delivered, shall be deemed to be an original and all of which
      counterparts, taken together, shall constitute but one and the same
      Agreement.

     

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

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

     

    Section
      3.09 Governing
      Law. 
      The Laws of the State of New York shall govern this Agreement without regard
      to
      principles of conflict of Laws.

     

    Section
      3.10 Severability
      of Provisions. 
      Any provision of this Agreement which is prohibited or unenforceable in any
      jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
      such prohibition or unenforceability without invalidating the remaining
      provisions hereof or affecting or impairing the validity or enforceability
      of
      such provision in any other jurisdiction.

     

    Section
      3.11 Entire
      Agreement. 
      This Agreement is intended by the parties as a final expression of their
      agreement and intended to be a complete and exclusive statement of the agreement
      and understanding of the parties hereto in respect of the subject matter
      contained herein.  There are no restrictions, promises, warranties or
      undertakings, other than those set forth or referred to herein with respect
      to
      the rights granted by Atlas Energy set forth herein.  This Agreement and
      the Purchase Agreement supersede all prior agreements and understandings between
      the parties with respect to such subject matter.

     

    Section
      3.12 Amendment. 
      This Agreement may be amended only by means of a written amendment signed by
      Atlas Energy and the Holders of a majority of the then outstanding Registrable
      Securities; provided,
      however,
      that no
      such amendment shall materially and adversely affect the rights of any Holder
      hereunder without the consent of such Holder.

     

    Section
      3.13 No
      Presumption. 
      If any claim is made by a party relating to any conflict, omission or ambiguity
      in this Agreement, no presumption or burden of proof or persuasion shall be
      implied by virtue of the fact that this Agreement was prepared by or at the
      request of a particular party or its counsel.

     

    Section
      3.14 Obligations
      Limited to Parties to Agreement. 
      Each of the Parties hereto covenants, agrees and acknowledges that no Person
      other than the Purchasers (and their permitted assignees) and Atlas Energy
      shall
      have any obligation hereunder and that, notwithstanding that one or more of
      the
      Purchasers may be a corporation, partnership or limited liability company,
      no
      recourse under this Agreement or the Purchase Agreement or under any documents
      or instruments delivered in connection herewith or therewith shall be had
      against any former, current or future director, officer, employee, agent,
      general or limited partner, manager, member, stockholder or Affiliate of any
      of
      the Purchasers or any former, current or future director, officer, employee,
      agent, general or limited partner, manager, member, stockholder or Affiliate
      of
      any of the foregoing, whether by the enforcement of any assessment or by any
      legal or equitable proceeding, or by virtue of any applicable Law, it being
      expressly agreed and acknowledged that no personal liability whatsoever shall
      attach to, be imposed on or otherwise be incurred by any former, current or
      future director, officer, employee, agent, general or limited partner, manager,
      member, stockholder or Affiliate of any of the Purchasers or any former, current
      or future director, officer, employee, agent, general or limited partner,
      manager, member, stockholder or Affiliate of any of the foregoing, as such,
      for
      any obligations of the Purchasers under this Agreement or the Purchase Agreement
      or any documents or instruments delivered in connection herewith or therewith
      or
      for any claim based on, in respect of or by reason of such obligation or its
      creation.

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

     

    [The
      remainder of this page is intentionally left blank]

     

    
      
        
          
          

        

        
          19

          
            

          

        

         

      

    

    

    IN
      WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of
      the
      date first above written.

     

    
      	 	 	 
	 	
              ATLAS
                ENERGY RESOURCES, LLC

            
	 
 	 
 	 
 
	
            	By:  	 
	 	
              

              Name: Matthew
                A. Jones

            
	 	
              Title: Chief
                Financial Officer

            

    

     

     

    
      
        	
                Address
                  for notices:

              	
                Atlas
                  Energy Resources, LLC

              
	 	
                311
                  Rouser Road

              
	 	
                Moon
                  Township, PA 15108

              
	 	
                Fax:
                  412-262-2820

              
	 	
                Attn:
                  Matthew A. Jones

              
	 	 
	
                With
                  copies to:

              	
                Ledgewood

              
	 	
                1900
                  Market Street, Suite 750

              
	 	
                Philadelphia,
                  PA 19103

              
	 	
                Fax:
                  215-735-2513

              
	 	
                Attn:
                  Lisa A. Ernst

              

      

    

     

    
      Signature
        Page to Registration Rights Agreement

       

    

    
      
        
          
          

        

        
          
          

          
            

          

        

         

      

    

    

    IN
      WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of
      the
      date first above written.

     

    
      	 	 	 
	 	
              [Purchaser]

            
	 
 	 
 	 
 
	
            	By:  	
            
	 	
              

              Name:

            
	 	
              Title:

            

    

     

    
      Signature
        Page to Registration Rights Agreement

       

    

    
      
        
          
          

        

        
          
          

          
            

          

        

         

      

    

     

    EXHIBIT
      A

     

    
      
        	
                1.

              	 	
                Name
                  of Purchaser: Lehman Brothers Inc.

              
	 	 	
                Address:
                  745 Seventh Avenue, 7th Floor

              
	 	 	
                New
                  York, NY 10019

              
	 	 	 
	
                2.

              	 	
                Name
                  of Purchaser: Magnetar Capital Fund,
                  LP

              
	 	 	
                Address:
                  1603 Orrington Avenue, Suite 1300

              
	 	 	
                Evanston,
                  IL 60201

              
	 	 	 
	
                3.

              	 	
                Name
                  of Purchaser: Structured Finance Americas,
                  LLC

              
	 	 	
                Address:
                  60 Wall Street

              
	 	 	
                New
                  York, NY 10005

              
	 	 	 
	
                4.

              	 	
                Name
                  of Purchaser: LB I Group

              
	 	 	
                Address:
                  745 Seventh Avenue

              
	 	 	
                New
                  York, NY 10019

              
	 	 	 
	
                5.

              	 	
                Name
                  of Purchaser: Lehman Brothers MLP Opportunity Fund
                  L.P.

              
	 	 	
                Address:
                  399 Park Avenue

              
	 	 	
                New
                  York, NY 10022

              
	 	 	 
	
                6.

              	 	
                Name
                  of Purchaser: Goldman, Sachs & Co.

              
	 	 	
                Address:
                  85 Broad Street

              
	 	 	
                New
                  York, NY 10004

              
	 	 	 
	
                7.

              	 	
                Name
                  of Purchaser: Royal Bank of Canada

              
	 	 	
                Address:
                  Royal Bank Plaza, 10th Floor, North
                  Tower

              
	 	 	
                200
                  Bay Street

              
	 	 	
                Toronto,
                  Ontario M5J 2W7 Canada

              
	 	 	 
	
                8.

              	 	
                Name
                  of Purchaser: Swank MLP Convergence Fund,
                  LP

              
	 	 	
                Address:
                  3300 Oak Lawn Ave, Suite 650

              
	 	 	
                Dallas,
                  TX 75219

              

      

       

      
        
          
          

        

        
          Ex.
            A

          
            

          

        

        
          
          

        

      

       

      
        	
                9.

              	 	
                Name
                  of Purchaser: The Cushing MLP Opportunity Fund I,
                  LP

              
	 	 	
                Address:
                  3300 Oak Lawn Ave, Suite 650

              
	 	 	
                Dallas,
                  TX 75219

              
	 	 	 
	
                10.

              	 	
                Name
                  of Purchaser: ZLP Fund, L.P.

              
	 	 	
                Address:
                  45 Broadway, 28th Floor

              
	 	 	
                New
                  York, NY 10006

              
	 	 	 
	
                11.

              	 	
                Name
                  of Purchaser: Kayne Anderson Energy Development
                  Company

              
	 	 	
                Address:
                  717 Texas Avenue, Suite 3100

              
	 	 	
                Houston,
                  TX 77002

              
	 	 	 
	
                12.

              	 	
                Name
                  of Purchaser: Kayne Anderson MLP Investment
                  Company

              
	 	 	
                Address:
                  717 Texas Avenue, Suite 3100

              
	 	 	
                Houston,
                  TX 77002

              
	 	 	 
	
                13.

              	 	
                Name
                  of Purchaser: Kayne Anderson Energy Total Return Fund,
                  Inc.

              
	 	 	
                Address:
                  1800 Avenue of the Stars, Second Floor

              
	 	 	
                Los
                  Angeles, CA 90067

              
	 	 	 
	
                14.

              	 	
                Name
                  of Purchaser: Credit Suisse Management
                  LLC

              
	 	 	
                Address:
                  11 Madison Avenue, Tax Department, 8th
                  Floor

              
	 	 	
                New
                  York, NY 10010-3629

              
	 	 	 
	
                15.

              	 	
                Name
                  of Purchaser: Sunlight Capital Partners,
                  LLC

              
	 	 	
                Address:
                  712 Fifth Avenue, 35th Floor

              
	 	 	
                New
                  York, NY 10019

              
	 	 	 
	
                16.

              	 	
                Name
                  of Purchaser: Wingate Capital Ltd.

              
	 	 	
                Address:
                  Dundee Leeds Building, 2nd Floor, Waterfront
                  Centre

              
	 	 	
                28
                  North Church Street

              
	 	 	
                George
                  Town, Grand Cayman, Cayman
                  Islands

              

      

       

      
        
          
          

        

        
          Ex.
            A

          
            

          

        

        
          
          

        

      

       

      
        	
                17.      
                  

              	         	
                Name
                  of Purchaser Party to this Agreement: Cobalt Capital Management,
                  Inc.

              

      

      
        	 	 	
                A.

              	
                Name
                  of Purchaser: Cobalt Partners, LP

              
	 	 	 	
                Address:
                  237 Park Avenue, Suite 900

              
	 	 	 	
                New
                  York, NY 10017

              
	 	 	 	 
	 	 	
                B.

              	
                Name
                  of Purchaser: Cobalt Partners II, LP

              
	 	 	 	
                Address:
                  237 Park Avenue, Suite 900

              
	 	 	 	
                New
                  York, NY 10017

              
	 	 	 	 
	 	 	
                C.

              	
                Name
                  of Purchaser: Guggenheim Portfolio Company XI,
                  LLC

              
	 	 	 	
                Address:
                  135 East 57th Street, 11th Floor

              
	 	 	 	
                New
                  York, NY 10022

              
	 	 	 	 
	
                18.

              	 	
                Name
                  of Purchasers party to this Agreement: Och-Ziff Associates
                  LLC

              
	 	 	
                Oz
                  Management, L.L.C.

              
	 	 	
                A.

              	
                Name
                  of Purchaser: OZ Domestic Partners,
                  L.P.

              
	 	 	 	
                Address:
                  9 West 57th Street, 39th Floor

              
	 	 	 	
                New
                  York, NY 10019

              
	 	 	 	 
	 	 	
                B.

              	
                Name
                  of Purchaser: Oz Domestic Partners II,
                  L.P.

              
	 	 	 	
                Address:
                  9 West 57th Street, 39th Floor

              
	 	 	 	
                New
                  York, NY 10019

              

      

       

      
        
          
          

        

        
          Ex.
            A

          
            

          

        

        
          
          

        

      

       

      
        	 	 	
                C.

              	
                Name
                  of Purchaser: Oz Offshore ATN Investors I,
                  LLC

              
	 	 	 	
                Address:
                  9 West 57th Street, 39th Floor

              
	 	 	 	
                New
                  York, NY 10019

              
	 	 	 	 
	 	 	
                D.

              	
                Name
                  of Purchaser: Oz Offshore ATN Investors II,
                  LLC

              
	 	 	 	
                Address:
                  9 West 57th Street, 39th Floor

              
	 	 	 	
                New
                  York, NY 10019

              
	 	 	 	 
	 	 	
                E.

              	
                Name
                  of Purchaser: Oz Offshore ATN Investors III,
                  LLC

              
	 	 	 	
                Address:
                  9 West 57th Street, 39th Floor

              
	 	 	 	
                New
                  York, NY 10019

              
	 	 	 	 
	 	 	
                F.

              	
                Name
                  of Purchaser: Oz Global Special Investments,
                  L.P.

              
	 	 	 	
                Address:
                  9 West 57th Street, 39th Floor

              
	 	 	 	
                New
                  York, NY 10019

              
	 	 	 	 
	 	 	
                G.

              	
                Name
                  of Purchaser: Goldman, Sachs & Co. Profit Sharing Master
                  Trust

              
	 	 	 	
                Address:
                  9 West 57th Street, 39th Floor

              
	 	 	 	
                New
                  York, NY 10019

              
	 	 	 	 
	 	 	
                H.

              	
                Name
                  of Purchaser: GPC LVII, LLC

              
	 	 	 	
                Address:
                  9 West 57th Street, 39th Floor

              
	 	 	 	
                New
                  York, NY 10019

              

      

       

      
        
          
          

        

        
          Ex.
            A

          
            

          

        

        
          
          

        

      

       

      
        	
                19.

              	 	
                Name
                  of Purchaser Party to this Agreement: Omega Advisors,
                  Inc.

              
	 	 	
                A.

              	
                Name
                  of Purchaser: Omega Capital Partners,
                  L.P.

              
	 	 	 	
                Address:
                  88 Pine Street, 31st Floor

              
	 	 	 	
                New
                  York, NY 10005

              
	 	 	 	 
	 	 	
                B.

              	
                Name
                  of Purchaser: Omega Capital Investors,
                  L.P.

              
	 	 	 	
                Address:
                  88 Pine Street, 31st Floor

              
	 	 	 	
                New
                  York, NY 10005

              
	 	 	 	 
	 	 	
                C.

              	
                Name
                  of Purchaser: Omega SPV Partners, L.P.

              
	 	 	 	
                Address:
                  88 Pine Street, 31st Floor

              
	 	 	 	
                New
                  York, NY 10005

              
	 	 	 	 
	 	 	
                D.

              	
                Name
                  of Purchaser: Omega Equity Investors,
                  L.P.

              
	 	 	 	
                Address:
                  88 Pine Street, 31st Floor

              
	 	 	 	
                New
                  York, NY 10005

              
	 	 	 	 
	 	 	
                E.

              	
                Name
                  of Purchaser: Beta Equities, Inc.

              
	 	 	 	
                Address:
                  c/o General Electric Investment
                  Corporation

              
	 	 	 	
                3003
                  Summer Street

              
	 	 	 	
                Stamford,
                  CT 06905

              
	 	 	 	 
	 	 	
                F.

              	
                Name
                  of Purchaser: GS&Co Profit Sharing Master
                  Trust

              
	 	 	 	
                Address:
                  c/o The Goldman Sachs Trust Company

              
	 	 	 	
                85
                  Broad Street

              
	 	 	 	
                New
                  York, NY 10004

              

      

       

      
        
          
          

        

        
          Ex.
            A

          
            

          

        

        
          
          

        

      

       

      
        	 	 	
                G.

              	
                Name
                  of Purchaser: Presidential Life
                  Corporation

              
	 	 	 	
                Address:
                  69 Lydecker Street

              
	 	 	 	
                Nyack,
                  NY 10960

              
	 	 	 	 
	 	 	
                H.

              	
                Name
                  of Purchaser: The Ministers and Missionaries Benefit Board of
                  American Baptist Churches

              
	 	 	 	
                Address:
                  475 Riverside Drive, Room 1700

              
	 	 	 	
                New
                  York, NY 10115

              

      

    

     

    
      
        
        

      

      
        Ex.
          AKEYON
      COMMUNICATIONS HOLDINGS,
      INC.

    2007
      INCENTIVE STOCK AND AWARDS PLAN

     

    1. Purpose
      and Effective Date.

     

    (a) Purpose.
      The
      KeyOn Communications Holdings, Inc. 2007 Incentive Stock and Awards Plan has
      two
      complementary purposes: (i) to attract and retain outstanding individuals to
      serve as officers, directors, employees and consultants and (ii) to increase
      shareholder value. The Plan will provide participants incentives to increase
      shareholder value by offering the opportunity to acquire shares of the Company’s
      common stock, receive monetary payments based on the value of such common stock,
      or receive other incentive compensation, on the potentially favorable terms
      that
      this Plan provides. 

     

    (b) Effective
      Date.
      This
      Plan will become effective, and Awards may be granted under this Plan, on and
      after the Effective Date. 

     

    2. Definitions.
      Capitalized terms used in this Plan have the following meanings:

     

    (a) “409A
      Subsidiary” shall mean any entity that is controlled by the Company within the
      meaning of Treasury Regulation Section 1.414(c)-2(b)(2)(i), except that the
      phrase “at least 50 percent” shall be used in place of “at least 80 percent”,
      and further provided that the phrase “at least 20 percent” may be used in place
      of “at least 80 percent” with respect to grants of Options or SARs made to
      eligible individuals based on legitimate business criteria of the Company within
      the meaning of Code Section 409A.

     

    (b) “Affiliate”
      shall mean any entity of which at least twenty percent (20%) of the equity
      interest is held, directly or indirectly, by the Company. 

     

    (c) “Award”
      means a grant of Options, Stock Appreciation Rights, Performance Shares,
      Performance Units, Restricted Stock, Restricted Stock Units, an Annual Incentive
      Award or a Long-Term Incentive Award. 

     

    (d) “Board”
      means the Board of Directors of the Company. 

     

    (e) “Cause”
      means, (i) if a Participant is subject to an employment, retention or similar
      agreement with the Company or an Affiliate that includes a definition of
“Cause”, such definition, and (ii) for all other Participants, except as
      otherwise determined by the Committee and set forth in an Award agreement,
      (A)
      conviction of a felony or a plea of no contest to a felony, (B) willful
      misconduct that is materially and demonstrably detrimental to the Company or
      an
      Affiliate, or (C) willful refusal to perform requested duties consistent with
      a
      Participant’s office, position or status with the Company or an Affiliate (other
      than as a result of physical or mental disability), except that, with respect
      to
      clauses (B) and (C), Cause shall be determined by a majority of the Committee
      at
      a meeting held after reasonable notice to the Participant and including an
      opportunity for the Participant and his or her counsel to be heard.

     

    (f) “Change
      of Control” means the occurrence of any one of the following events:

     

    (i) A
      change
      in the ownership of the Company, which shall occur on the date that any one
      Person, or more than one Person Acting as a Group (as defined below), other
      than
      Excluded Person(s) (as defined below), acquires ownership of the stock of the
      Company that, together with the stock then held by such Person or group,
      constitutes more than fifty percent (50%) of the total Fair Market Value of
      the
      stock of the Company. However, if any one Person or more than one Person Acting
      as a Group is considered to own more than fifty percent (50%) of the total
      Fair
      Market Value of the stock of the Company, the acquisition of additional stock
      by
      the same Person or Persons is not considered to cause a Change of Control.
      

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (ii) A
      change
      in the effective control of the Company, which shall occur on the date that:
      Any
      one Person, or more than one Person Acting as a Group, other than Excluded
      Person(s), acquires (or has acquired during the twelve (12) month period ending
      on the date of the most recent acquisition by such Person or Persons) ownership
      of stock of the Company possessing fifty percent (50%) or more of the total
      voting power of the stock of the Company. However, if any one Person or more
      than one Person Acting as a Group is considered to own more than fifty percent
      (50%) of the total voting power of the stock of the Company, the acquisition
      of
      additional voting stock by the same Person or Persons is not considered to
      cause
      a Change of Control; or 

     

    (iii) A
      change
      in the ownership of a substantial portion of the Company’s assets, which shall
      occur on the date that any one Person, or more than one Person Acting as a
      Group, other than Excluded Person(s), acquires (or has acquired during the
      twelve (12) month period ending on the date of the most recent acquisition
      by
      such person or persons) assets from the Company that have a total Gross Fair
      Market Value (as defined below) equal to more than fifty percent (50%) of the
      total Gross Fair Market Value of all the assets of the Company immediately
      prior
      to such acquisition or acquisitions, other than an Excluded Transaction (as
      defined below). 

     

    For
      purposes of this subsection (f):

     

    “Gross
      Fair Market Value” means the value of the assets of the Company, or the value of
      the assets being disposed of, as applicable, determined without regard to any
      liabilities associated with such assets.

     

    Persons
      will not be considered to be “Acting as a Group” solely because they purchase or
      own stock of the Company at the same time, or as a result of the same public
      or
      private offering, or solely because they purchase assets of the Company at
      the
      same time, or as a result of the same public or private offering, as the case
      may be. However, Persons will be considered to be “Acting as a Group” if they
      are owners of an entity that enters into a merger, consolidation, purchase
      or
      acquisition of assets, or similar business transaction with the Company.

     

    The
      term
“Excluded Transaction” means any transaction in which assets are transferred to:
      (A) a shareholder of the Company (determined immediately before the asset
      transfer) in exchange for or with respect to its stock; (B) an entity, fifty
      percent (50%) or more of the total value or voting power of which is owned,
      directly or indirectly, by the Company (determined after the asset transfer);
      (C) a Person, or more than one Person Acting as a Group, that owns, directly
      or
      indirectly, fifty percent (50%) or more of the total value or voting power
      of
      all the outstanding stock of the Company (determined after the asset transfer);
      or (D) an entity at least fifty percent (50%) of the total value or voting
      power
      of which is owned, directly or indirectly, by a Person described in clause
      (C)
      (determined after the asset transfer). 

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    The
      term
“Excluded Person(s)” means (A) the Company or any of its Affiliates, (B) a
      trustee or other fiduciary holding securities under an employee benefit plan
      of
      the Company or any of its Affiliates, (C) an underwriter temporarily holding
      securities pursuant to an offering of such securities, or (D) a corporation
      owned, directly or indirectly, by the shareholders of the Company in
      substantially the same proportions as their ownership of stock in the
      Company.

     

    The
      term
“Change of Control” as defined above shall be amended and construed in
      accordance with any subsequent guidance, rules or regulations promulgated by
      the
      Internal Revenue Service in construing the rules and regulations applicable
      to
      Code Section 409A.

     

    (g) “Code”
      means the Internal Revenue Code of 1986, as amended. Any reference to a specific
      provision of the Code includes any successor provision and the regulations
      promulgated under such provision.

     

    (h) “Committee”
      means the Compensation Committee of the Board (or a successor committee with
      the
      same or similar authority) or the full Board until such time as such authority
      has been delegated to the Committee by the Board.

     

    (i) “Company”
      means KeyOn Communications Holdings, Inc., a Delaware corporation, or any
      successor thereto.

     

    (j) “Director”
      means a member of the Board, and “Non-Employee Director” means a Director who is
      not also an employee of the Company or its Subsidiaries.

     

    (k) “Disability”
      means the inability to engage in any substantial gainful activity by reason
      of
      any medically determinable physical or mental impairment that can be expected
      to
      result in death or can be expected to last for a continuous period of at least
      twelve (12) months, as determined by the Committee. The Committee may request
      such evidence of disability as it reasonably determines.

     

    (l) “Exchange
      Act” means the Securities Exchange Act of 1934, as amended. Any reference to a
      specific provision of the Exchange Act includes any successor provision and
      the
      regulations and rules promulgated under such provision. 

     

    (m) “Effective
      Date” means the date the Company’s shareholders approve this Plan.

     

    (n) “Fair
      Market Value” means, per Share on a particular date, the last sales price on
      such date on the national securities exchange on which the Stock is then traded,
      as reported in The Wall Street Journal, or if no sales of Stock occur on the
      date in question, on the last preceding date on which there was a sale on such
      market. If the Shares are not listed on a national securities exchange, but
      are
      traded in an over-the-counter market, the last sales price (or, if there is
      no
      last sales price reported, the average of the closing bid and asked prices)
      for
      the Shares on the particular date, or on the last preceding date on which there
      was a sale of Shares on that market, will be used. If the Shares are neither
      listed on a national securities exchange nor traded in an over-the-counter
      market, the price determined by the Committee, in its discretion, will be used.
      

     

    
      
         

      

      
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    (o) “Incentive
      Award” means the right to receive a cash payment to the extent Performance Goals
      are achieved, and shall include “Annual Incentive Awards” as described in
      Section 10 and “Long-Term Incentive Awards” as described in Section
      11.

     

    (p) “Option”
      means the right to purchase Shares at a stated price for a specified period
      of
      time. 

     

    (q) “Participant”
      means an individual selected by the Committee to receive an Award.

     

    (r) “Performance
      Goals” means any goals the Committee establishes that relate to one or more of
      the following with respect to the Company or any one or more of its
      Subsidiaries, Affiliates or other business units: net sales; cost of sales;
      gross income; operating income; earnings before taxes; earnings before interest
      and taxes; earnings before interest, taxes, depreciation and amortization;
      income from continuing operations; net income; basic earnings per share; diluted
      earnings per share; price per share; cash flow; net cash provided by operating
      activities; net cash provided by operating activities less net cash used in
      investing activities; ratio of debt to debt plus equity; return on shareholder
      equity; return on invested capital; return on average total capital employed;
      return on net assets employed before interest and taxes; operating working
      capital; average accounts receivable (calculated by taking the average of
      accounts receivable at the end of each month); average inventories (calculated
      by taking the average of inventories at the end of each month); economic value
      added; and customer satisfaction. As to each Performance Goal, the relevant
      measurement of performance shall be computed in accordance with generally
      accepted accounting principles, if applicable, but, unless otherwise determined
      by the Committee, will exclude the effects of (i) extraordinary, unusual and/or
      non-recurring items of gain or loss, (ii) gains or losses on the disposition
      of
      a business, (iii) changes in tax or accounting regulations or laws, or (iv)
      the
      effect of a merger or acquisition, that in each case the Company identifies
      in
      its audited financial statements, including footnotes, or the Management’s
      Discussion and Analysis section of the Company’s annual report. In the case of
      Awards that the Committee determines will not be considered “performance-based
      compensation” under Code Section 162(m), the Committee may establish other
      Performance Goals not listed in this Plan. 

     

    (s) “Performance
      Shares” means the right to receive Shares to the extent Performance Goals are
      achieved. 

     

    (t) “Performance
      Unit” means the right to receive a payment valued in relation to a unit that has
      a designated dollar value or the value of which is equal to the Fair Market
      Value of one or more Shares, to the extent Performance Goals are achieved.
      

     

    
      
         

      

      
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    (u) “Person”
      has the meaning given in Section 3(a)(9) of the Exchange Act, as modified and
      used in Sections 13(d) and 14(d) thereof; provided that for purposes of Section
      2(f), the meaning ascribed in Code Section 409A shall apply.

     

    (v) “Plan”
      means this KeyOn Communications Holdings, Inc. 2007 Incentive Stock and Awards
      Plan, as it may be amended from time to time. 

     

    (w) “Restricted
      Stock” means a Share that is subject to a risk of forfeiture and restrictions on
      transfer. 

     

    (x) “Restricted
      Stock Unit” means the right to receive a payment valued in relation to a unit
      the value of which is equal to the Fair Market Value of one Share.

     

    (y) “Retirement”
      means, with respect to employee Participants, termination of employment from
      the
      Company and its Affiliates (for other than Cause) on or after attainment of
      age
      fifty-five (55) and completion of ten (10) years of continuous service with
      the
      Company and its Affiliates, and with respect to Director Participants, means
      the
      Director’s resignation or failure to be re-elected following completion of the
      Director’s term.

     

    (z) “Rule
      16b-3” means Rule 16b-3 as promulgated by the United States Securities and
      Exchange Commission under the Exchange Act.

     

    (aa) “Section 16
      Participants” means Participants who are subject to the provisions of Section 16
      of the Exchange Act. 

     

    (bb) “Share”
      means a share of Stock. 

     

    (cc) “Stock”
      means the Common Stock of the Company, par value of $0.001 per share.

     

    (dd) “Stock
      Appreciation Right” or “SAR” means the right to receive a payment equal to the
      appreciation of the Fair Market Value of a Share during a specified period
      of
      time. 

     

    (ee) “Subsidiary”
      means any corporation, limited liability company or other limited liability
      entity in an unbroken chain of entities beginning with the Company if each
      of
      the entities (other than the last entity in the chain) owns the stock or equity
      interest possessing more than fifty percent (50%) of the total combined voting
      power of all classes of stock or other equity interests in one of the other
      entities in the chain. 

     

    3. Administration.
      

     

    (a) Committee
      Administration.
      The
      Committee shall administer the Plan. In addition to the authority specifically
      granted to the Committee in this Plan, the Committee has full discretionary
      authority to administer this Plan, including but not limited to the authority
      to: (i) interpret the provisions of this Plan, (ii) prescribe, amend and rescind
      rules and regulations relating to this Plan, (iii) correct any defect, supply
      any omission, or reconcile any inconsistency in any Award or agreement covering
      an Award in the manner and to the extent it deems desirable to carry this Plan
      or such Award into effect and (iv) make all other determinations necessary
      or
      advisable for the administration of this Plan. All Committee determinations
      are
      final and binding. 

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    (b) Delegation
      to Other Committees or Officers.
      To the
      extent applicable law permits, the Board may delegate to another committee
      of
      the Board, or the Committee may delegate to one or more officers of the Company,
      any or all of the authority and responsibility of the Committee. However, no
      such delegation is permitted with respect to Awards made to Section 16
      Participants at the time any such delegated authority or responsibility is
      exercised. The Board also may delegate to another committee of the Board
      consisting entirely of Non-Employee Directors any or all of the authority and
      responsibility of the Committee with respect to individuals who are Section
      16
      Participants. If the Board or the Committee has made such a delegation, then
      all
      references to the Committee in this Plan include such other committee or one
      or
      more officers to the extent of such delegation. 

     

    (c) Indemnification.
      The
      Company will indemnify and hold harmless each member of the Committee, and
      each
      officer or member of any other committee to whom a delegation under Section
      3(b)
      has been made, as to any act done, or determination made, with respect to this
      Plan or any Award to the maximum extent that the law and the Company’s bylaws
      permit. 

     

    4. Eligibility.
      The
      Committee may designate any of the following as a Participant from time to
      time:
      officers or other employees of the Company or its Affiliates, individuals whom
      the Company or an Affiliate has engaged to become an officer or employee,
      consultants who provide services to the Company or its Affiliates, or Directors,
      including Non-Employee Directors. The Committee’s designation of a Participant
      in any year will not require the Committee to designate such person to receive
      an Award in any other year. 

     

    5. Types
      of Awards.
      Subject
      to the terms of this Plan, the Committee may grant any type of Award to any
      Participant it selects, but only employees of the Company or a Subsidiary may
      receive grants of incentive stock options within the meaning of Code Section
      422. Awards may be granted alone or in addition to, in tandem with, or in
      substitution for any other Award (or any other award granted under another
      plan
      of the Company or any Affiliate). 

     

    6. Shares
      Reserved under this Plan. 

     

    (a) Plan
      Reserve.
      Subject
      to adjustment as provided in Section 15, an aggregate of 2,250,000 Shares are
      reserved for issuance under this Plan. The number of Shares reserved for
      issuance under this Plan shall be reduced only by the number of Shares delivered
      in payment or settlement of Awards. Notwithstanding the foregoing, the Company
      may issue only 2,250,000 Shares upon the exercise of incentive stock options.
      

     

    (b) Replenishment
      of Shares Under this Plan.
      If an
      Award lapses, expires, terminates or is cancelled without the issuance of Shares
      under the Award, or if Shares are forfeited under an Award, or if Shares are
      issued under any Award and the Company subsequently reacquires them pursuant
      to
      rights reserved upon the issuance of the Shares, or if previously owned Shares
      are delivered to the Company in payment of the exercise price of an Award,
      then
      such Shares may again be used for new Awards under this Plan under Section
      6(a),
      but such Shares may not be issued pursuant to incentive stock options.

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    (c) Participant
      Limitations.
      Subject
      to adjustment as provided in Section 15, no Participant may be granted
      Awards that could result in such Participant: 

     

    (i) receiving
      Options for, and/or Stock Appreciation Rights with respect to, more than 750,000
      Shares during any fiscal year of the Company; 

     

    (ii) receiving
      Awards of Restricted Stock and/or Restricted Stock Units relating to more than
      500,000 Shares during any fiscal year of the Company;

     

    (iii) receiving
      Awards of Performance Shares, and/or Awards of Performance Units the value
      of
      which is based on the Fair Market Value of Shares, for more than 500,000 Shares
      during any fiscal year of the Company;

     

    (iv) receiving
      Awards of Performance Units the value of which is not based on the Fair Market
      Value of Shares, for more than $2,000,000 during any fiscal year of the
      Company;

     

    (v) receiving
      an Annual Incentive Award in any single fiscal year of the Company of more
      than
      $3,000,000; or

     

    (vi) receiving
      a Long-Term Incentive Award in any single fiscal year of the Company of more
      than $3,000,000. 

     

    In
      all
      cases, determinations under this Section 6(c) should be made in a manner that
      is
      consistent with the exemption for performance-based compensation that Code
      Section 162(m) provides. 

     

    7. Options.
      Subject
      to the terms of this Plan, the Committee will determine all terms and conditions
      of each Option, including but not limited to: (i) whether the Option is an
      “incentive stock option” which meets the requirements of Code Section 422,
      or a “nonqualified stock option” which does not meet the requirements of Code
      Section 422; (ii) the number of Shares subject to the Option; (iii) the
      exercise price, which may not be less than the Fair Market Value of the Shares
      subject to the Option as determined on the date of grant; (iv) the terms and
      conditions of exercise; and (v) the term, except that an Option must terminate
      no later than ten (10) years after the date of grant. In all other
      respects, the terms of any incentive stock option should comply with the
      provisions of Code section 422 except to the extent the Committee
      determines otherwise. Non-qualified stock options granted to individuals who
      are
      not employees or Non-Employee Directors of, or service providers to, the Company
      or any 409A Subsidiary shall be subject to Code Section 409A.

     

    8. Stock
      Appreciation Rights.
      Subject
      to the terms of this Plan, the Committee will determine all terms and conditions
      of each SAR, including but not limited to: (a) whether the SAR is granted
      independently of an Option or relates to an Option; (b) the number of Shares
      to
      which the SAR relates; (c) the grant price, provided that the grant price shall
      not be less than the Fair Market Value of the Shares subject to the SAR as
      determined on the date of grant; (d) the terms and conditions of exercise or
      maturity; (e) the term, provided that an SAR must terminate no later than ten
      (10) years after the date of grant; and (f) whether the SAR will be settled
      in
      cash, Shares or a combination thereof. SARs granted to individuals who are
      not
      employees or Non-Employee Directors of, or service providers to, the Company
      or
      any 409A Subsidiary shall be subject to Code Section 409A. If an SAR is granted
      in relation to an Option, then unless otherwise determined by the Committee,
      the
      SAR shall be exercisable or shall mature at the same time or times, on the
      same
      conditions and to the extent and in the proportion, that the related Option
      is
      exercisable and may be exercised or mature for all or part of the Shares subject
      to the related Option. Upon exercise of any number of SAR, the number of Shares
      subject to the related Option shall be reduced accordingly and such Option
      may
      not be exercised with respect to that number of Shares. The exercise of any
      number of Options that relate to an SAR shall likewise result in an equivalent
      reduction in the number of Shares covered by the related SAR. 

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    9. Performance
      and Stock Awards.
      Subject
      to the terms of this Plan, the Committee will determine all terms and conditions
      of each award of Restricted Stock, Restricted Stock Units, Performance Shares
      or
      Performance Units, including but not limited to: (a) the number of Shares and/or
      units to which such Award relates; (b) whether, as a condition for the
      Participant to realize all or a portion of the benefit provided under the Award,
      one or more Performance Goals must be achieved during such period as the
      Committee specifies; (c) whether the restrictions imposed on Restricted Stock
      or
      Restricted Stock Units are accelerated, and all or a portion of the Performance
      Goals subject to an Award are deemed achieved, upon a Participant’s death,
      Disability or Retirement; (d) with respect to Performance Units, whether to
      measure the value of each unit in relation to a designated dollar value or
      the
      Fair Market Value of one or more Shares; and (e) with respect to Restricted
      Stock Units and Performance Units, whether to settle such Awards in cash, in
      Shares, or a combination thereof. 

     

    10. Annual
      Incentive Awards.
      Subject
      to the terms of this Plan, the Committee will determine all terms and conditions
      of an Annual Incentive Award, including but not limited to the Performance
      Goals, performance period, the potential amount payable, and the timing of
      payment, subject to the following: (a) the Committee must require that payment
      of all or any portion of the amount subject to the Annual Incentive Award is
      contingent on the achievement or partial achievement of one or more Performance
      Goals during the period the Committee specifies, although the Committee may
      specify that all or a portion of the Performance Goals subject to an Award
      are
      deemed achieved upon a Participant’s death, Disability or Retirement, or such
      other circumstances as the Committee may specify; and (b) the performance period
      must relate to a period of one fiscal year of the Company except that, if the
      Award is made in the year this Plan becomes effective, at the time of
      commencement of employment with the Company or on the occasion of a promotion,
      then the Award may relate to a period shorter than one fiscal year.

     

    11. Long-Term
      Incentive Awards.
      Subject
      to the terms of this Plan, the Committee will determine all terms and conditions
      of a Long-Term Incentive Award, including but not limited to the Performance
      Goals, performance period, the potential amount payable, and the timing of
      payment, subject to the following: (a) the Committee must require that payment
      of all or any portion of the amount subject to the Long-Term Incentive Award
      is
      contingent on the achievement or partial achievement of one or more Performance
      Goals during the period the Committee specifies, although the Committee may
      specify that all or a portion of the Performance Goals subject to an Award
      are
      deemed achieved upon a Participant’s death, Disability or Retirement, or such
      other circumstances as the Committee may specify; and (b) the performance period
      must relate to a period of more than one fiscal year of the Company.

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    12. Transferability.
      Awards
      are not transferable other than by will or the laws of descent and distribution,
      unless and to the extent the Committee allows a Participant to: (a) designate
      in
      writing a beneficiary to exercise the Award after the Participant’s death; or
      (b) transfer an Award. 

     

    13. Termination
      and Amendment of Plan; Amendment, Modification or Cancellation of Awards.

     

    (a) Term
      of Plan.
      Unless
      the Board earlier terminates this Plan pursuant to Section 13(b), this Plan
      will
      terminate when all Shares reserved for issuance have been issued. If the term
      of
      this Plan extends beyond ten (10) years from the Effective Date, no incentive
      stock options may be granted after such time unless the shareholders of the
      Company have approved an extension of this Plan for incentive stock option
      purposes. 

     

    (b) Termination
      and Amendment.
      The
      Board or the Committee may amend, alter, suspend, discontinue or terminate
      this
      Plan at any time, subject to the following limitations: 

     

    (i) the
      Board
      must approve any amendment of this Plan to the extent the Company determines
      such approval is required by: (A) action of the Board, (B) applicable corporate
      law or (C) any other applicable law;

     

    (ii) shareholders
      must approve any amendment of this Plan to the extent the Company determines
      such approval is required by: (A) Section 16 of the Exchange Act, (B) the Code,
      (C) the listing requirements of any principal securities exchange or market
      on
      which the Shares are then traded or (D) any other applicable law; and

     

    (iii) shareholders
      must approve any of the following Plan amendments: (A) an amendment to
      materially increase any number of Shares specified in Section 6(a) or 6(c)
      (except as permitted by Section 15); or (B) an amendment that would diminish
      the
      protections afforded by Section 13(e). 

     

    (c) Amendment,
      Modification or Cancellation of Awards.
      Except
      as provided in Section 13(e) and subject to the requirements of this Plan,
      the
      Committee may modify, amend or cancel any Award, or waive any restrictions
      or
      conditions applicable to any Award or the exercise of the Award, provided that
      any modification or amendment that materially diminishes the rights of the
      Participant, or the cancellation of the Award, shall be effective only if agreed
      to by the Participant or any other person(s) as may then have an interest in
      the
      Award, but the Committee need not obtain Participant (or other interested party)
      consent for the adjustment or cancellation of an Award pursuant to the
      provisions of Section 15 or the modification of an Award to the extent
      deemed necessary to comply with any applicable law, the listing requirements
      of
      any principal securities exchange or market on which the Shares are then traded,
      or to preserve favorable accounting treatment of any Award for the Company.
      Notwithstanding the foregoing, unless determined otherwise by the Committee,
      any
      such amendment shall be made in a manner that will enable an Award intended
      to
      be exempt from Code Section 409A to continue to be so exempt, or to enable
      an
      Award intended to comply with Code Section 409A to continue to so
      comply.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    (d) Survival
      of Authority and Awards.
      Notwithstanding the foregoing, the authority of the Board and the Committee
      under this Section 13 and to otherwise administer the Plan will extend beyond
      the date of this Plan’s termination. In addition, termination of this Plan will
      not affect the rights of Participants with respect to Awards previously granted
      to them, and all unexpired Awards will continue in force and effect after
      termination of this Plan except as they may lapse or be terminated by their
      own
      terms and conditions. 

     

    (e) Repricing
      Prohibited.
      Notwithstanding anything in this Plan to the contrary, and except for
      adjustments provided in Section 15 and in accordance with Section
      1.409A-1(b)(5)(v)(B) of the Treasury Regulations, neither the Committee nor
      any
      other person may decrease the exercise price for any outstanding Option or
      the
      grant price of an outstanding SAR after the date of grant or allow a Participant
      to surrender an outstanding Option or SAR to the Company as consideration for
      the grant of a new Option with a lower exercise price or a new SAR with a lower
      grant price.

     

    (f) Foreign
      Participation.
      To
      assure the viability of Awards granted to Participants employed in foreign
      countries, the Committee may provide for such special terms as it may consider
      necessary or appropriate to accommodate differences in local law, tax policy
      or
      custom. Moreover, the Committee may approve such supplements to, or amendments,
      restatements or alternative versions of, this Plan as it determines is necessary
      or appropriate for such purposes. Any such amendment, restatement or alternative
      versions that the Committee approves for purposes of using this Plan in a
      foreign country will not affect the terms of this Plan for any other country.
      In
      addition, all such supplements, amendments, restatements or alternative versions
      must comply with the provisions of Section 13(b)(ii). 

     

    (g) Code
      Section 409A.
      The
      provisions of Code Section 409A are incorporated herein by reference to the
      extent necessary for any Award that is subject to Code Section 409A to comply
      therewith. 

     

    14. Taxes.
      

     

    (a) Withholding.
      The
      Company is entitled to withhold the amount of any tax attributable to any amount
      payable or Shares deliverable under this Plan after giving the person entitled
      to receive such amount or Shares notice as far in advance as practicable, and
      the Company may defer making payment or delivery if any such tax may be pending
      unless and until indemnified to its satisfaction. If Shares are deliverable
      upon
      exercise or payment of an Award, the Committee may permit or require a
      Participant to satisfy all or a portion of the federal, state and local
      withholding tax obligations arising in connection with such Award by electing
      to
      (a) have the Company withhold Shares otherwise issuable under the Award,
      (b) tender back Shares received in connection with such Award or
      (c) deliver other previously owned Shares, in each case having a Fair
      Market Value equal to the amount to be withheld. However, the amount to be
      withheld may not exceed the total minimum federal, state and local tax
      withholding obligations associated with the transaction to the extent needed
      for
      the Company to avoid an accounting charge. If an election is provided, the
      election must be made on or before the date as of which the amount of tax to
      be
      withheld is determined and otherwise as the Committee requires. 

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

    (b) No
      Guarantee of Tax Treatment.
      Notwithstanding any provisions of the Plan, the Company does not guarantee
      to
      any Participant or any other Person with an interest in an Award that any Award
      intended to be exempt from Code Section 409A shall be so exempt, nor that any
      Award intended to comply with Code Section 409A shall so comply, nor will the
      Company or any Affiliate indemnify, defend or hold harmless any individual
      with
      respect to the tax consequences of any such failure. 

     

    15. Adjustment
      Provisions; Change of Control. 

     

    (a) Adjustment
      of Shares.
      In the
      event of any dividend or other distribution (in the form Shares, other
      securities, or other property) or large non-recurring cash dividend,
      recapitalization, stock split, reverse stock split, reorganization, merger,
      consolidation, split-up, spin-off, combination, repurchase, or exchange of
      Shares or other securities of the Company, issuance of warrants or other rights
      to purchase Shares or other securities of the Company, or other similar
      corporate transaction or event affects the Shares, then, subject to
      Participants’ rights under Section 15(c), the Committee shall, in such manner as
      it may deem equitable to prevent dilution or enlargement of the benefits or
      potential benefits intended to be made available under this Plan, adjust as
      applicable: (i) the number and type of Shares subject to this Plan
      (including the number and type of Shares described in Sections 6(a) and 6(c))
      and which may after the event be made the subject of Awards under this Plan,
      (ii) the number and type of Shares subject to outstanding Awards,
      (iii) the grant, purchase, or exercise price with respect to any Award, and
      (iv) to the extent such discretion does not cause an Award that is intended
      to
      qualify as performance-based compensation under Code Section 162(m) to lose
      its
      status as such, the Performance Goals of an Award. In each case, no adjustment
      may be authorized with respect to non-qualified stock options and stock
      appreciations rights intended to be exempt from Code Section 409A except in
      accordance with Section 1.409A-1(b)(5)(v)(B) of the Treasury Regulations and,
      with respect to Awards of incentive stock options, no such adjustment may be
      authorized to the extent that such authority would cause this Plan to violate
      Code Section 422(b). Unless the Committee determines otherwise, any such
      adjustment to an Award that is exempt from Code Section 409A shall be made
      in
      manner that permits the Award to continue to be so exempt, and any adjustment
      to
      an Award that is subject to Code Section 409A shall be made in a manner that
      complies with the provisions thereof. Further, the number of Shares subject
      to
      any Award payable or denominated in Shares must always be a whole
      number.

     

    (b) Issuance
      or Assumption.
      Notwithstanding any other provision of this Plan, and without affecting the
      number of Shares otherwise reserved or available under this Plan, in connection
      with any merger, consolidation, acquisition of property or stock, or
      reorganization, the Committee may authorize the issuance or assumption of awards
      under this Plan upon such terms and conditions as it may deem appropriate.
      

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     

    (c) Change
      of Control.
      If the
      Participant has in effect an employment, retention, change of control, severance
      or similar agreement with the Company or any Affiliate that discusses the effect
      of a Change of Control on the Participant’s Awards, then such agreement shall
      control. In all other cases, unless provided otherwise in an Award agreement,
      in
      the event of a Change of Control: 

     

    (i) The
      successor or purchaser in the Change of Control transaction may assume an Award
      or provide a substitute award with similar terms and conditions, and preserving
      the same benefits, as the Award it is replacing. In such event, if the
      Participant is terminated from employment or service on or within one year
      following the date of the Change of Control for any reason other than Cause,
      then: 

     

    (A) each
      Option or SAR shall become immediately and fully vested as of the date of such
      termination; 

     

    (B) Restricted
      Stock and Restricted Stock Units that are not then vested shall vest upon the
      date of such termination; 

     

    (C) Performance
      Shares and/or Performance Units for which the performance period has not expired
      shall be deemed earned for a cash payment equal to the product of the value
      of
      the Performance Share and/or Performance Unit and a fraction, the numerator
      of
      which is the number of whole months that have elapsed from the beginning of
      the
      performance period to which the Award is subject to the date of such termination
      and the denominator of which is the number of whole months in the performance
      period; 

     

    (D) each
      holder of a Performance Share and/or Performance Unit that has been earned
      but
      not yet paid shall receive an amount of cash equal to the value of the
      Performance Share and/or Performance Unit; and 

     

    (E) all
      Annual and Long-Term Incentive Awards that are earned but not yet paid shall
      be
      paid, and all Annual and Long-Term Incentive Awards that are not yet earned
      shall be deemed to have been earned pro rata, as if the Performance Goals are
      attained as of the effective date of such termination, by taking the product
      of
      (A) the Participant’s maximum award opportunity for the period to which the
      Award is subject, and (B) a fraction, the numerator of which is the number
      of whole months that have elapsed from the beginning of the performance period
      to which the Award is subject to the date of such termination and the
      denominator of which is the number of whole months in the performance period.
      

     

    (ii) If
      the
      successor or purchaser in the Change of Control transaction does not assume
      the
      Awards or issue replacement awards as provided in subsection (i), then the
      Board
      may accelerate the vesting of all or any portion of an Award effective on the
      Change of Control, and/or may provide that all Awards that have not been
      exercised, paid, vested, earned or otherwise realized, as the case may be,
      as of
      the date of the Change of Control shall be cancelled without payment thereof.
      

     

    The
      Committee shall determine the per share Change of Control price paid or deemed
      paid in the Change of Control transaction. Except as otherwise expressly
      provided in any agreement between a Participant and the Company or an Affiliate,
      if the receipt of any payment by a Participant under the circumstances described
      above would result in the payment by the Participant of any excise tax provided
      for in Section 280G and Section 4999 of the Code, then the amount of such
      payment shall be reduced to the extent required to prevent the imposition of
      such excise tax.

     

    
      
         

      

      
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    16. Miscellaneous. 

     

    (a) Other
      Terms and Conditions.
      The
      grant of any Award may also be subject to other provisions (whether or not
      applicable to the Award granted to any other Participant) as the Committee
      determines appropriate, including, without limitation, provisions for:

     

    (i) the
      payment of the purchase price of Options by delivery of cash or other Shares
      or
      other securities of the Company (including by attestation) having a then Fair
      Market Value equal to the purchase price of such Shares, or by delivery
      (including by fax) to the Company or its designated agent of an executed
      irrevocable option exercise form together with irrevocable instructions to
      a
      broker-dealer to sell or margin a sufficient portion of the Shares and deliver
      the sale or margin loan proceeds directly to the Company to pay for the exercise
      price; 

     

    (ii) provisions
      giving the Participant the right to receive dividend payments or dividend
      equivalent payments with respect to the Shares subject to the Award (both before
      and after the Shares subject to the Award are earned, vested or acquired),
      which
      payments may be either made currently or credited to an account for the
      Participant which provides for the deferral of such amounts until a stated
      time,
      and may be settled in cash or Shares, as the Committee determines; provided
      that
      any Dividend Equivalents granted in connection with an Option, Stock
      Appreciation Right or other “stock right” within the meaning of Code Section
      409A shall be set forth in a written arrangement that is separate from such
      Award, and to the extent the payment of such dividend equivalents is considered
      deferred compensation, such written arrangement shall comply with the provisions
      of Code Section 409A;

     

    (iii) restrictions
      on resale or other disposition of Shares; and 

     

    (iv) compliance
      with federal or state securities laws and stock exchange requirements.

     

    (b) Employment
      and Service.
      The
      issuance of an Award shall not confer upon a Participant any right with respect
      to continued employment or service with the Company or any Affiliate, or the
      right to continue as a Director. Unless determined otherwise by the Committee,
      for purposes of the Plan and all Awards, the following rules shall
      apply:

     

    (i) a
      Participant who transfers employment between the Company and its Affiliates,
      or
      between Affiliates, will not be considered to have terminated
      employment;

     

    (ii) a
      Participant who ceases to be a Non-Employee Director because he or she becomes
      an employee of the Company or an Affiliate shall not be considered to have
      ceased service as a Director with respect to any Award until such Participant’s
      termination of employment with the Company and its Affiliates; 

     

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

     

    (iii) a
      Participant who ceases to be employed by the Company or an Affiliate and
      immediately thereafter becomes a Non-Employee Director, a non-employee director
      of an Affiliate, or a consultant to the Company or any Affiliate shall not
      be
      considered to have terminated employment until such Participant’s service as a
      director of, or consultant to, the Company and its Affiliates has
      ceased;

     

    (iv) a
      Participant employed by an Affiliate will be considered to have terminated
      employment when such entity ceases to be an Affiliate. 

     

    Notwithstanding
      the foregoing, for purposes of an Award that is subject to Code Section 409A,
      if
      a Participant’s termination of employment or service triggers the payment of
      compensation under such Award, then the Participant will be deemed to have
      terminated employment or service upon a “separation from service” within the
      meaning of Code Section 409A.

     

    (c) No
      Fractional Shares.
      No
      fractional Shares or other securities may be issued or delivered pursuant to
      this Plan, and the Committee may determine whether cash, other securities or
      other property will be paid or transferred in lieu of any fractional Shares
      or
      other securities, or whether such fractional Shares or other securities or
      any
      rights to fractional Shares or other securities will be canceled, terminated
      or
      otherwise eliminated. 

     

    (d) Unfunded
      Plan.
      This
      Plan is unfunded and does not create, and should not be construed to create,
      a
      trust or separate fund with respect to this Plan’s benefits. This Plan does not
      establish any fiduciary relationship between the Company and any Participant
      or
      other person. To the extent any person holds any rights by virtue of an Award
      granted under this Plan, such rights are no greater than the rights of the
      Company’s general unsecured creditors. 

     

    (e) Requirements
      of Law and Securities Exchange.
      The
      granting of Awards and the issuance of Shares in connection with an Award are
      subject to all applicable laws, rules and regulations and to such approvals
      by
      any governmental agencies or national securities exchanges as may be required.
      Notwithstanding any other provision of this Plan or any award agreement, the
      Company has no liability to deliver any Shares under this Plan or make any
      payment unless such delivery or payment would comply with all applicable laws
      and the applicable requirements of any securities exchange or similar entity,
      and unless and until the Participant has taken all actions required by the
      Company in connection therewith. The Company may impose such restrictions on
      any
      Shares issued under the Plan as the Company determines necessary or desirable
      to
      comply with all applicable laws, rules and regulations or the requirements
      of
      any national securities exchanges.

     

    (f) Governing
      Law.
      This
      Plan, and all agreements under this Plan, will be construed in accordance with
      and governed by the laws of the State of Delaware, without reference to any
      conflict of law principles. Any legal action or proceeding with respect to
      this
      Plan, any Award or any award agreement, or for recognition and enforcement
      of
      any judgment in respect of this Plan, any Award or any award agreement, may
      only
      be heard in a “bench” trial, and any party to such action or proceeding shall
      agree to waive its right to a jury trial.

     

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

     

    (g) Limitations
      on Actions.
      Any
      legal action or proceeding with respect to this Plan, any Award or any award
      agreement, must be brought within one year (365 days) after the day the
      complaining party first knew or should have known of the events giving rise
      to
      the complaint. 

     

    (h) Construction.
      Whenever any words are used herein in the masculine, they shall be construed
      as
      though they were used in the feminine in all cases where they would so apply;
      and wherever any words are used in the singular or plural, they shall be
      construed as though they were used in the plural or singular, as the case may
      be, in all cases where they would so apply. Titles of sections are for general
      information only, and this Plan is not to be construed with reference to such
      titles.

     

    (i) Severability.
      If any
      provision of this Plan or any award agreement or any Award (i) is or
      becomes or is deemed to be invalid, illegal or unenforceable in any
      jurisdiction, or as to any person or Award, or (ii) would disqualify this
      Plan, any award agreement or any Award under any law the Committee deems
      applicable, then such provision should be construed or deemed amended to conform
      to applicable laws, or if it cannot be so construed or deemed amended without,
      in the determination of the Committee, materially altering the intent of this
      Plan, award agreement or Award, then such provision should be stricken as to
      such jurisdiction, person or Award, and the remainder of this Plan, such award
      agreement and such Award will remain in full force and effect. 

     

    
      
         

      

      
        15

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