Document:

EXHIBIT 10.17

                                 PROMISSORY NOTE

$100,000                                                   As of August 26, 2005
                                                               Clayton, Missouri

Viceroy  Acquisition  Corporation (the "Maker")  promises to pay to the order of
Lee E. Mikles (the "Payee") the principal  sum of One Hundred  Thousand  Dollars
and No Cents  ($100,000.00)  in lawful  money of the United  States of  America,
together with interest on the unpaid  principal  balance of this Promissory Note
(this "Note"), on the terms and conditions described below.

      1.    Principal.  The principal balance of this Note shall be repayable on
the earlier of (i) August 26,  2006 or (ii) the date on which Maker  consummates
an initial public  offering of its securities  under the Securities Act of 1933,
as amended.

      2.    Interest.  Interest shall not accrue on the unpaid principal balance
of this Note.

      3.    Application  of  Payments.  All payments  shall be applied  first to
payment in full of any costs  incurred  in the  collection  of any sum due under
this Note,  including (without limitation)  reasonable  attorneys' fees, then to
the reduction of the unpaid principal balance of this Note.

      4.    Events of Default.  Each of the following shall  constitute an event
of default ("Event of Default") under this Note:

            (a)   Failure to Make Required Payments. Failure by Maker to pay the
principal  of or accrued  interest on this Note within  five (5)  business  days
following the date when due.

            (b)   Voluntary  Bankruptcy,  Etc.  The  commencement  by Maker of a
voluntary  case  under  the  Federal  Bankruptcy  Code,  as now  constituted  or
hereafter  amended,  or  any  other  applicable  federal  or  state  bankruptcy,
insolvency, reorganization,  rehabilitation or other similar law, or the consent
by it to the  appointment  of or taking  possession  by a receiver,  liquidator,
assignee, trustee, custodian,  sequestrator (or other similar official) of Maker
or for  any  substantial  part  of its  property,  or  the  making  by it of any
assignment  for the benefit of creditors,  or the failure of Maker  generally to
pay its debts as such debts  become  due, or the taking of  corporate  action by
Maker in furtherance of any of the foregoing.

            (c)   Involuntary  Bankruptcy,  Etc.  The entry of a decree or order
for relief by a court having jurisdiction in the premises in respect of Maker in
an  involuntary  case under the Federal  Bankruptcy  Code,  as now or  hereafter
constituted, or any other applicable federal or state bankruptcy,  insolvency or
other similar law, or appointing a receiver,  liquidator,  assignee,  custodian,
trustee, sequestrator (or similar official) of Maker or for any substantial part
of its property,  or ordering the  winding-up or  liquidation  of the affairs of
Maker,  and the  continuance  of any such decree or order unstayed and in effect
for a period of sixty (60) consecutive days.

      5.    Remedies.

            (a)   Upon  the  occurrence  of an  Event of  Default  specified  in
Section 4(a) hereof, Payee may, by written notice to Maker, declare this Note to
be immediately due and payable,  whereupon the unpaid  principal  amount of this
Note, and all other amounts payable hereunder,  shall become immediately due and
payable without presentment, demand, protest or other notice of any kind, all of
which are hereby expressly waived, anything contained herein or in the documents
evidencing the same to the contrary notwithstanding.

            (b)   Upon the occurrence of an Event of Default specified in either
Section 4(b) or 4(c) hereof,  the unpaid principal balance of this Note, and all
other amounts payable hereunder,  shall automatically and immediately become due
and  payable,  in all cases  without any action on the part of Payee,  including
presentment,  demand,  protest  or other  notice of any  kind,  all of which are
hereby expressly waived.

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      6.    Waivers.  Maker and all  endorsers and  guarantors  of, and sureties
for,  this Note waive  presentment  for  payment,  demand,  notice of  dishonor,
protest, and notice of protest with regard to this Note, all errors, defects and
imperfections  in any  proceedings  instituted  by Payee under the terms of this
Note,  and all  benefits  that might accrue to Maker by virtue of any present or
future  laws  exempting  any  property,  real or  personal,  or any  part of the
proceeds arising from any sale of any such property,  from  attachment,  levy or
sale under  execution,  or providing for any stay of execution,  exemption  from
civil process, or extension of time for payment;  and Maker agrees that any real
estate that may be levied upon pursuant to a judgment obtained by virtue hereof,
on any writ of execution issued hereon,  may be sold upon any such writ in whole
or in part in any order desired by Payee.

      7.    Unconditional   Liability.   Maker  hereby  waives  all  notices  in
connection with the delivery, acceptance,  performance,  default, or enforcement
of  the  payment  of  this  Note,  and  agrees  that  its  liability   shall  be
unconditional, without regard to the liability of any other party, and shall not
be affected in any manner by any indulgence,  extension of time, renewal, waiver
or  modification  granted or consented to by Payee,  and consents to any and all
extensions of time,  renewals,  waivers, or modifications that may be granted by
Payee with respect to the payment or other  provisions of this Note,  and agrees
that additional makers,  endorsers,  guarantors,  or sureties may become parties
hereto without notice to it or affecting its liability hereunder.

      8.    Notices.  Any notice called for hereunder  shall be deemed  properly
given if in writing and (i) sent by certified  mail,  return receipt  requested,
(ii)  personally  delivered,   (iii)  dispatched  by  any  form  of  private  or
governmental express mail or delivery service providing receipted delivery, (iv)
sent  by  confirmed  telefacsimile  or (v)  sent  by  confirmed  e-mail,  to the
following  addresses or to such other  address as either party may  designate by
notice in accordance with this Section:

      If to Maker:

         Viceroy Acquisition Corporation
         8235 Forsyth Boulevard, Suite 400
         Clayton, Missouri 63105
         Attn.: Chief Executive Officer

      If to Payee:

         Lee E. Mikles
         1801 Century Park East, Suite 460
         Los Angeles, California 90067

Notice  shall be  deemed  given on the  earlier  of (i)  actual  receipt  by the
receiving party, (ii) the date shown on the conformed telefacsimile transmission
confirmation, (iii) the date on which an e-mail transmission was received by the
receiving  party's  on-line access  provider (iv) the date reflected on a signed
delivery receipt,  or (vi) two (2) business days following tender of delivery or
dispatch by express mail or delivery service.

      9.    Governing Law; Construction.  This Note, the legal relations between
the Maker  and  Payee and the  adjudication  and  enforcement  hereof,  shall be
governed by and construed in accordance with the laws of the State of California
applicable to contracts  executed in and to be performed in that state,  without
regard to the conflicts of law provisions  thereof to the extent such principles
or rules  would  require  or  permit  the  application  of the  laws of  another
jurisdiction.

      10.   Severability.   Any  provision  contained  in  this  Note  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,  and any such  prohibition  or
unenforceability   in  any   jurisdiction   shall  not   invalidate   or  render
unenforceable such provision in any other jurisdiction.

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<PAGE>

      IN WITNESS  WHEREOF,  Maker,  intending to be legally  bound  hereby,  has
caused this Note to be duly executed the day and year first above written.

                                               VICEROY ACQUISITION CORPORATION

                                               By:  /s/ Lee E. Mikles
                                                 -------------------------------
                                                 Name:  Lee E. Mikles
                                                 Title: Chief Executive Officer

                                        3EXHIBIT 10.18

                          REGISTRATION RIGHTS AGREEMENT

      THIS REGISTRATION  RIGHTS AGREEMENT (this  "Agreement") is entered into as
of the day of , 2005, by and among: Viceroy Acquisition Corporation,  a Delaware
corporation (the "Company"),  and the undersigned parties listed under Investors
on the  signature  page  hereto  (each,  an  "Investor"  and  collectively,  the
"Investors").

      WHEREAS,  the Investors  currently hold all of the issued and  outstanding
securities of the Company;

      WHEREAS, the Investors and the Company desire to enter into this Agreement
to provide the Investors with certain  rights  relating to the  registration  of
shares of Common Stock held by them;

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

      1.    DEFINITIONS.  The following  capitalized  terms used herein have the
            following meanings:

      "Agreement" means this Agreement, as amended, restated,  supplemented,  or
otherwise modified from time to time.

      "Commission"  means the Securities and Exchange  Commission,  or any other
federal agency then administering the Securities Act or the Exchange Act.

      "Common Stock" means the common stock, par value $0.0001 per share, of the
Company.

      "Company" is defined in the preamble to this Agreement.

      "Demand Registration" is defined in Section 2.1.1.

      "Demanding Holder" is defined in Section 2.1.1.

      "Exchange Act" means the Securities Exchange Act of 1934, as amended,  and
the rules and regulations of the Commission promulgated  thereunder,  all as the
same shall be in effect at the time.

      "Form S-3" is defined in Section 2.3.

      "Indemnified Party" is defined in Section 4.3.

      "Indemnifying Party" is defined in Section 4.3.

      "Investor" is defined in the preamble to this Agreement.

      "Investor Indemnified Party" is defined in Section 4.1.

      "Maximum Number of Shares" is defined in Section 2.1.4.

      "Notices" is defined in Section 6.3.

      "Piggy-Back Registration" is defined in Section 2.2.1.

      "Purchase  Option"  means the option to  purchase  1,000,000  units  (each
consisting  of one share of common stock and one warrant)  issued to The Shemano
Group,  Inc. or its designees in connection  with the Company's  initial  public
offering.

<PAGE>

      "Register,"  "registered" and "registration" mean a registration  effected
by  preparing  and  filing a  registration  statement  or  similar  document  in
compliance with the requirements of the Securities Act, and the applicable rules
and regulations promulgated thereunder, and such registration statement becoming
effective.

      "Registrable  Securities"  mean all of the shares of Common Stock owned or
held by  Investors.  Registrable  Securities  include  any  warrants,  shares of
capital stock or other  securities of the Company  issued as a dividend or other
distribution with respect to or in exchange for or in replacement of such shares
of Common Stock. As to any particular  Registrable  Securities,  such securities
shall cease to be Registrable Securities when: (a) a Registration Statement with
respect to the sale of such  securities  shall have become  effective  under the
Securities Act and such securities shall have been sold,  transferred,  disposed
of or  exchanged  in  accordance  with  such  Registration  Statement;  (b) such
securities  shall have been  otherwise  transferred  pursuant to Rule 144 of the
Securities Act (or any similar  provisions  thereunder,  but not Rule 144A), new
certificates  for them not bearing a legend  restricting  further transfer shall
have been delivered by the Company and subsequent  public  distribution  of them
shall not require  registration  under the Securities  Act; (c) such  securities
shall  have  ceased  to be  outstanding,  or (d)  the  Securities  and  Exchange
Commission makes a definitive  determination to the Company that the Registrable
Securities are salable under Rule 144(k).

      "Registration  Statement"  means a  registration  statement  filed  by the
Company with the Commission in compliance  with the Securities Act and the rules
and regulations  promulgated thereunder for a public offering and sale of Common
Stock  (other than a  registration  statement  on Form S-4 or Form S-8, or their
successors,  or any registration  statement covering only securities proposed to
be issued in exchange for securities or assets of another entity).

      "Release  Date"  means  the date on  which  shares  of  Common  Stock  are
disbursed  from  escrow  pursuant  to  Section 3 of that  certain  Stock  Escrow
Agreement  dated as of , 2005 by and among the  parties  hereto and  Continental
Stock Transfer & Trust Company.

      "Securities  Act" means the  Securities  Act of 1933, as amended,  and the
rules and regulations of the Commission promulgated thereunder,  all as the same
shall be in effect at the time.

      "Underwriter"  means a securities  dealer who  purchases  any  Registrable
Securities  as  principal  in an  underwritten  offering and not as part of such
dealer's market-making activities.

      2.    REGISTRATION RIGHTS.

            2.1   Demand Registration.

                  2.1.1. Request for Registration.  At any time and from time to
time on or after the Release Date, the holders of a majority-in-interest  of the
Registrable  Securities  held  by  the  Investors  or  the  transferees  of  the
Investors,  may make a written demand for registration  under the Securities Act
of all or part of their Registrable  Securities (a "Demand  Registration").  Any
demand  for a  Demand  Registration  shall  specify  the  number  of  shares  of
Registrable  Securities  proposed  to be sold  and  the  intended  method(s)  of
distribution  thereof.  The  Company  will  notify all  holders  of  Registrable
Securities of the demand,  and each holder of Registrable  Securities who wishes
to  include  all or a portion of such  holder's  Registrable  Securities  in the
Demand Registration (each such holder including shares of Registrable Securities
in such Demand  Registration,  a "Demanding Holder") shall so notify the Company
within  fifteen (15) days after the receipt by the holder of the notice from the
Company.  Upon any such request, the Demanding Holders shall be entitled to have
their Registrable  Securities  included in the Demand  Registration,  subject to
Section 2.1.4 and the provisos set forth in Section 3.1.1. The Company shall not
be obligated  to effect more than an  aggregate of two (2) Demand  Registrations
under this Section 2.1.1 in respect of Registrable Securities.

                                       2
<PAGE>

                  2.1.2. Effective  Registration.  A registration will not count
as a  Demand  Registration  until  the  Registration  Statement  filed  with the
Commission with respect to such Demand  Registration has been declared effective
and the Company has complied with all of its  obligations  under this  Agreement
with  respect  thereto;  provided,  however,  that if,  after such  Registration
Statement has been declared  effective,  the offering of Registrable  Securities
pursuant  to a Demand  Registration  is  interfered  with by any  stop  order or
injunction of the  Commission  or any other  governmental  agency or court,  the
Registration  Statement with respect to such Demand  Registration will be deemed
not to have been declared  effective,  unless and until,  (i) such stop order or
injunction  is  removed,   rescinded  or  otherwise   terminated,   and  (ii)  a
majority-in-interest  of the Demanding Holders  thereafter elect to continue the
offering;  provided,  further, that the Company shall not be obligated to file a
second Registration Statement until a Registration Statement that has been filed
is counted as a Demand Registration or is terminated.

                  2.1.3. Underwritten Offering. If a majority-in-interest of the
Demanding  Holders so elect and such  holders  so advise the  Company as part of
their written demand for a Demand Registration, the offering of such Registrable
Securities  pursuant  to such  Demand  Registration  shall  be in the form of an
underwritten  offering.  In such  event,  the right of any holder to include its
Registrable  Securities  in such  registration  shall be  conditioned  upon such
holder's  participation in such  underwriting and the inclusion of such holder's
Registrable  Securities in the underwriting to the extent provided  herein.  All
Demanding  Holders  proposing  to  distribute  their  securities   through  such
underwriting  shall enter into an underwriting  agreement in customary form with
the   Underwriter  or   Underwriters   selected  for  such   underwriting  by  a
majority-in-interest of the holders initiating the Demand Registration.

                  2.1.4. Reduction of Offering.  If the managing  Underwriter or
Underwriters for a Demand  Registration  that is to be an underwritten  offering
advises the Company and the Demanding  Holders in writing that the dollar amount
or number of shares of Registrable Securities which the Demanding Holders desire
to  sell,  taken  together  with  all  other  shares  of  Common  Stock or other
securities  which the Company desires to sell and the shares of Common Stock, if
any, as to which registration has been requested pursuant to written contractual
piggy-back  registration  rights held by other  shareholders  of the Company who
desire to sell,  exceeds the maximum  dollar amount or maximum  number of shares
that can be sold in such  offering  without  adversely  affecting  the  proposed
offering  price,  the timing,  the  distribution  method,  or the probability of
success of such  offering  (such  maximum  dollar  amount or  maximum  number of
shares, as applicable,  the "Maximum Number of Shares"),  then the Company shall
include in such registration:  (i) first, the Registrable Securities as to which
Demand  Registration  has been  requested by the Demanding  Holders (pro rata in
accordance  with the  number of  shares of  Registrable  Securities  which  such
Demanding Holder has requested be included in such  registration,  regardless of
the number of shares of Registrable  Securities  held by each Demanding  Holder)
that can be sold without exceeding the Maximum Number of Shares; (ii) second, to
the extent  that the  Maximum  Number of Shares has not been  reached  under the
foregoing  clause (i), the shares of Common Stock or other  securities  that the
Company desires to sell that can be sold without exceeding the Maximum Number of
Shares;  (iii)  third,  to the extent that the Maximum  Number of Shares has not
been  reached  under the  foregoing  clauses (i) and (ii),  the shares of Common
Stock for the account of other persons that the Company is obligated to register
pursuant to written  contractual  arrangements with such persons and that can be
sold without  exceeding  the Maximum  Number of Shares;  and (v) fourth,  to the
extent  that the  Maximum  Number  of  Shares  have not been  reached  under the
foregoing  clauses (i), (ii),  and (iii),  the shares of Common Stock that other
shareholders  desire  to sell that can be sold  without  exceeding  the  Maximum
Number of Shares.

                  2.1.5. Withdrawal.  If a majority-in-interest of the Demanding
Holders  disapprove  of the terms of any  underwriting  or are not  entitled  to
include   all  of  their   Registrable   Securities   in  any   offering,   such
majority-in-interest  of the  Demanding  Holders may elect to withdraw from such
offering  by  giving  written  notice  to the  Company  and the  Underwriter  or
Underwriters  of their  request to withdraw  prior to the  effectiveness  of the
Registration  Statement  filed with the  Commission  with respect to such Demand
Registration.  In such event,  the Company need not seek  effectiveness  of such
Registration   Statement   for  the   benefit   of  other   Investors.   If  the
majority-in-interest of the Demanding Holders withdraws from a proposed offering
relating to a Demand  Registration,  then such registration shall not count as a
Demand Registration provided for in Section 2.1.1.

            2.2   Piggy-Back Registration.

                  2.2.1.  Piggy-Back  Rights.  If at any  time on or  after  the
Release Date the Company  proposes to file a  Registration  Statement  under the
Securities Act with respect to an offering of equity  securities,  or securities
or other  obligations  exercisable or  exchangeable  for, or  convertible  into,
equity securities, by the Company for its own account or for shareholders of the
Company for their accounts (or by the Company and by shareholders of the Company
including,   without  limitation,   pursuant  to  Section  2.1),  other  than  a
Registration Statement (i) filed in connection with any employee stock option or
other benefit plan, (ii) for an exchange offer or offering of securities  solely

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<PAGE>

to the Company's  existing  shareholders,  (iii) for an offering of debt that is
convertible  into  equity  securities  of the  Company  or (iv)  for a  dividend
reinvestment  plan,  then the  Company  shall  (x) give  written  notice of such
proposed filing to the holders of Registrable  Securities as soon as practicable
but in no event less than ten (10) days  before  the  anticipated  filing  date,
which notice shall  describe the amount and type of securities to be included in
such  offering,  the  intended  method(s) of  distribution,  and the name of the
proposed managing Underwriter or Underwriters,  if any, of the offering, and (y)
offer to the holders of Registrable Securities in such notice the opportunity to
register  the sale of such number of shares of  Registrable  Securities  as such
holders may request in writing  within  fifteen (15) days  following  receipt of
such  notice  (a  "Piggy-Back  Registration").  The  Company  shall  cause  such
Registrable  Securities  to be included in such  registration  and shall use its
best efforts to cause the managing  Underwriter  or  Underwriters  of a proposed
underwritten  offering  to permit the  Registrable  Securities  requested  to be
included  in a  Piggy-Back  Registration  to be  included  on the same terms and
conditions  as any similar  securities  of the Company and to permit the sale or
other disposition of such Registrable Securities in accordance with the intended
method(s)  of  distribution  thereof.  All  holders  of  Registrable  Securities
proposing to distribute their securities through a Piggy-Back  Registration that
involves  an  Underwriter  or  Underwriters  shall  enter  into an  underwriting
agreement in customary form with the  Underwriter or  Underwriters  selected for
such Piggy-Back Registration.

                  2.2.2. Reduction of Offering.  If the managing  Underwriter or
Underwriters  for a  Piggy-Back  Registration  that  is  to  be an  underwritten
offering  advises  the  Company and the  holders of  Registrable  Securities  in
writing  that the dollar  amount or number of shares of Common  Stock  which the
Company desires to sell,  taken together with shares of Common Stock, if any, as
to  which  registration  has  been  demanded  pursuant  to  written  contractual
arrangements  with  persons  other than the  holders of  Registrable  Securities
hereunder,  the  Registrable  Securities  as  to  which  registration  has  been
requested  under this Section 2.2, and the shares of Common Stock, if any, as to
which  registration  has been  requested  pursuant  to the  written  contractual
piggy-back registration rights of other shareholders of the Company, exceeds the
Maximum  Number  of  Shares,   then  the  Company  shall  include  in  any  such
registration:

                        (i)   If  the   registration   is  undertaken   for  the
Company's  account:  (A) first,  the shares of Common Stock or other  securities
that the Company desires to sell that can be sold without  exceeding the Maximum
Number of Shares;  (B) second,  to the extent that the Maximum  Number of Shares
has not been reached under the foregoing clause (A), the shares of Common Stock,
if any, including the Registrable Securities,  as to which registration has been
requested  pursuant to written  contractual  piggy-back  registration  rights of
security  holders  (pro rata in  accordance  with the number of shares of Common
Stock  which each such  person has  actually  requested  to be  included in such
registration, regardless of the number of shares of Common Stock with respect to
which such persons have the right to request  such  inclusion)  that can be sold
without exceeding the Maximum Number of Shares; and

                        (ii)  If the  registration  is a  "demand"  registration
undertaken  at the demand of  persons  other  than the  holders  of  Registrable
Securities pursuant to written contractual  arrangements with such persons,  (A)
first, the shares of Common Stock for the account of the demanding  persons that
can be sold without  exceeding the Maximum Number of Shares;  (B) second, to the
extent  that the  Maximum  Number  of  Shares  has not been  reached  under  the
foregoing  clause (A), the shares of Common Stock or other  securities  that the
Company desires to sell that can be sold without exceeding the Maximum Number of
Shares;  and (C) third,  to the extent that the Maximum Number of Shares has not
been reached under the foregoing clauses (A) and (B), the Registrable Securities
as to which  registration has been requested under this Section 2.2 (pro rata in
accordance with the number of shares of Registrable Securities held by each such
holder); and (D) fourth, to the extent that the Maximum Number of Shares has not
been reached under the foregoing  clauses (A), (B) and (C), the shares of Common
Stock, if any, as to which  registration has been requested  pursuant to written
contractual  piggy-back  registration  rights which other shareholders desire to
sell that can be sold without exceeding the Maximum Number of Shares.

                  2.2.3. Withdrawal.  Any holder of  Registrable  Securities may
elect to withdraw such holder's request for inclusion of Registrable  Securities
in any Piggy-Back  Registration  by giving written notice to the Company of such
request to withdraw prior to the  effectiveness of the  Registration  Statement.
The  Company  may also elect to withdraw a  registration  statement  at any time
prior to the effectiveness of the Registration  Statement.  Notwithstanding  any
such withdrawal,  the Company shall pay all expenses  incurred by the holders of
Registrable  Securities  in  connection  with such  Piggy-Back  Registration  as
provided in Section 3.3.

                                       4
<PAGE>

            2.3   Registrations   on  Form  S-3.  The  holders  of   Registrable
Securities may at any time and from time to time after the Release Date, request
in  writing  that  the  Company  register  the  resale  of any  or  all of  such
Registrable Securities on Form S-3 or any similar short-form  registration which
may be available at such time ("Form S-3"); provided,  however, that the Company
shall not be obligated to effect such request through an underwritten  offering.
Upon receipt of such written  request,  the Company will  promptly  give written
notice  of  the  proposed  registration  to all  other  holders  of  Registrable
Securities,  and, as soon as practicable thereafter,  effect the registration of
all or such portion of such holder's or holders'  Registrable  Securities as are
specified in such request,  together with all or such portion of the Registrable
Securities  of any other  holder  or  holders  joining  in such  request  as are
specified in a written  request given within  fifteen (15) days after receipt of
such written notice from the Company; provided,  however, that the Company shall
not be obligated to effect any such  registration  pursuant to this Section 2.3:
(i) if Form S-3 is not  available for such  offering;  or (ii) if the holders of
the Registrable Securities, together with the holders of any other securities of
the  Company  entitled  to  inclusion  in  such  registration,  propose  to sell
Registrable Securities and such other securities (if any) at any aggregate price
to the public of less than  $500,000.  Registrations  effected  pursuant to this
Section 2.3 shall not be counted as Demand  Registrations  effected  pursuant to
Section 2.1.

      3.    REGISTRATION PROCEDURES.

            3.1   Filings;  Information.  Whenever  the  Company is  required to
effect the registration of any Registrable Securities pursuant to Section 2, the
Company shall use its best efforts to effect the  registration  and sale of such
Registrable Securities in accordance with the intended method(s) of distribution
thereof  as  expeditiously  as  practicable,  and in  connection  with  any such
request:

                  3.1.1. Filing  Registration  Statement.  The Company shall, as
expeditiously  as possible and in any event within sixty (60) days after receipt
of a request for a Demand Registration pursuant to Section 2.1, prepare and file
with the Commission a  Registration  Statement on any form for which the Company
then qualifies or which counsel for the Company shall deem appropriate and which
form  shall  be  available  for the  sale of all  Registrable  Securities  to be
registered  thereunder in accordance with the intended method(s) of distribution
thereof, and shall use its best efforts to cause such Registration  Statement to
become and remain effective for the period required by Section 3.1.3;  provided,
however,  that the Company shall have the right to defer any Demand Registration
for up to thirty (30) days, and any Piggy-Back  Registration  for such period as
may be  applicable  to  deferment  of any  demand  registration  to  which  such
Piggy-Back  Registration  relates,  in each case if the Company shall furnish to
the holders a certificate  signed by the Chief Executive  Officer of the Company
stating  that,  in the good  faith  judgment  of the Board of  Directors  of the
Company, it would be materially  detrimental to the Company and its shareholders
for such Registration  Statement to be effected at such time;  provided further,
however,  that the Company  shall not have the right to  exercise  the right set
forth in the immediately  preceding proviso more than once in any 365-day period
in respect of a Demand Registration hereunder.

                  3.1.2. Copies.   The   Company   shall,   prior  to  filing  a
Registration  Statement or prospectus,  or any amendment or supplement  thereto,
furnish without charge to the holders of Registrable Securities included in such
registration,  and such  holders'  legal  counsel,  copies of such  Registration
Statement  as  proposed  to be filed,  each  amendment  and  supplement  to such
Registration  Statement  (in  each  case  including  all  exhibits  thereto  and
documents  incorporated by reference  therein),  the prospectus included in such
Registration Statement (including each preliminary  prospectus),  and such other
documents as the holders of Registrable Securities included in such registration
or legal  counsel for any such  holders may request in order to  facilitate  the
disposition of the Registrable Securities owned by such holders.

                  3.1.3.  Amendments and Supplements.  The Company shall prepare
and  file  with  the  Commission  such  amendments,   including   post-effective
amendments,  and supplements to such  Registration  Statement and the prospectus
used in  connection  therewith  as may be  necessary  to keep such  Registration
Statement  effective and in compliance with the provisions of the Securities Act
until  all  Registrable   Securities  and  other  securities   covered  by  such
Registration  Statement  have been disposed of in  accordance  with the intended
method(s) of distribution set forth in such Registration Statement (which period
shall not exceed the sum of one hundred eighty (180) days plus any period during
which any such disposition is interfered with by any stop order or injunction of
the Commission or any governmental agency or court) or such securities have been
withdrawn.

                                       5
<PAGE>

                  3.1.4.  Notification.  After  the  filing  of  a  Registration
Statement,  the  Company  shall  promptly,  and in no  event  more  than two (2)
business days after such filing,  notify the holders of  Registrable  Securities
included in such Registration Statement of such filing, and shall further notify
such holders  promptly  and confirm such advice in writing in all events  within
two (2) business days of the occurrence of any of the  following:  (i) when such
Registration Statement becomes effective; (ii) when any post-effective amendment
to  such  Registration  Statement  becomes  effective;  (iii)  the  issuance  or
threatened  issuance by the  Commission of any stop order (and the Company shall
take all  actions  required to prevent the entry of such stop order or to remove
it if  entered);  and (iv) any request by the  Commission  for any  amendment or
supplement to such Registration  Statement or any prospectus relating thereto or
for  additional  information  or of the  occurrence  of an event  requiring  the
preparation  of a  supplement  or  amendment  to such  prospectus  so  that,  as
thereafter  delivered  to the  purchasers  of the  securities  covered  by  such
Registration Statement,  such prospectus will not contain an untrue statement of
a material fact or omit to state any material fact required to be stated therein
or necessary to make the statements  therein not  misleading,  and promptly make
available to the holders of Registrable Securities included in such Registration
Statement any such  supplement or amendment;  except that before filing with the
Commission a Registration Statement or prospectus or any amendment or supplement
thereto,  including  documents  incorporated  by  reference,  the Company  shall
furnish to the holders of Registrable  Securities  included in such Registration
Statement  and to the legal  counsel  for any such  holders,  copies of all such
documents proposed to be filed sufficiently in advance of filing to provide such
holders and legal counsel with a reasonable opportunity to review such documents
and comment thereon,  and the Company shall not file any Registration  Statement
or  prospectus  or  amendment  or  supplement   thereto,   including   documents
incorporated  by  reference,  to which such holders or their legal counsel shall
reasonably object.

                  3.1.5. State Securities Laws Compliance. The Company shall use
its best efforts to (i) register or qualify the Registrable  Securities  covered
by the  Registration  Statement under such securities or "blue sky" laws of such
jurisdictions  in the United  States as the  holders of  Registrable  Securities
included in such  Registration  Statement  (in light of their  intended  plan of
distribution)  may  request and (ii) take such  action  necessary  to cause such
Registrable  Securities  covered by the Registration  Statement to be registered
with or approved by such other  Governmental  Authorities as may be necessary by
virtue of the  business and  operations  of the Company and do any and all other
acts and things  that may be  necessary  or  advisable  to enable the holders of
Registrable Securities included in such Registration Statement to consummate the
disposition  of such  Registrable  Securities in such  jurisdictions;  provided,
however,  that the  Company  shall not be required  to qualify  generally  to do
business in any jurisdiction where it would not otherwise be required to qualify
but  for  this  paragraph  (e)  or  subject  itself  to  taxation  in  any  such
jurisdiction.

                  3.1.6.  Agreements  for  Disposition.  The Company shall enter
into customary agreements (including,  if applicable,  an underwriting agreement
in customary  form) and take such other  actions as are  reasonably  required in
order to expedite or facilitate the disposition of such Registrable  Securities.
The representations, warranties and covenants of the Company in any underwriting
agreement  which  are made to or for the  benefit  of any  Underwriters,  to the
extent  applicable,  shall also be made to and for the benefit of the holders of
Registrable  Securities  included in such registration  statement.  No holder of
Registrable Securities included in such registration statement shall be required
to make any representations or warranties in the underwriting  agreement except,
if  applicable,  with  respect to such  holder's  organization,  good  standing,
authority,  title to Registrable Securities,  lack of conflict of such sale with
such holder's material agreements and organizational documents, and with respect
to written information relating to such holder that such holder has furnished in
writing  expressly  for  inclusion in such  Registration  Statement.  Holders of
Registrable  Securities  shall agree to such covenants and  indemnification  and
contribution  obligations for selling stockholders as are customarily  contained
in agreements of that type.  Further,  such holders shall cooperate fully in the
preparation of the  registration  statement and other documents  relating to any
offering in which they  include  securities  pursuant to Section 2 hereof.  Each
holder shall also furnish to the Company such information  regarding itself, the
Registrable   Securities  held  by  such  holder  and  the  intended  method  of
disposition  of such  securities as shall be  reasonably  required to effect the
registration of the Registrable Securities.

                  3.1.7.  Cooperation.  The principal  executive  officer of the
Company,   the  principal  financial  officer  of  the  Company,  the  principal
accounting  officer of the  Company  and all other  officers  and members of the
management of the Company shall  cooperate  fully in any offering of Registrable
Securities hereunder,  which cooperation shall include, without limitation,  the
preparation of the Registration  Statement with respect to such offering and all
other offering  materials and related  documents,  and participation in meetings
with Underwriters, attorneys, accountants and potential investors.

                                       6
<PAGE>

                  3.1.8.   Records.   The  Company  shall  make   available  for
inspection  by  the  holders  of   Registrable   Securities   included  in  such
Registration  Statement,  any  Underwriter   participating  in  any  disposition
pursuant to such  registration  statement and any attorney,  accountant or other
professional  retained by any holder of Registrable  Securities included in such
Registration  Statement or any  Underwriter,  all financial  and other  records,
pertinent  corporate  documents  and  properties  of the  Company,  as  shall be
necessary to enable them to exercise  their due  diligence  responsibility,  and
cause the Company's officers,  directors and employees to supply all information
reasonably  requested  by any of  them  in  connection  with  such  Registration
Statement.

                  3.1.9. Opinions and Comfort Letters. The Company shall furnish
to each holder of Registrable  Securities included in any Registration Statement
a signed counterpart, addressed to such holder, of (i) any opinion of counsel to
the Company  delivered to any  Underwriter  and (ii) any comfort letter from the
Company's  independent public accountants  delivered to any Underwriter.  In the
event no legal  opinion is  delivered  to any  Underwriter,  the  Company  shall
furnish to each holder of Registrable  Securities  included in such Registration
Statement,  at any time that such holder elects to use a prospectus,  an opinion
of  counsel  to the  Company  to the  effect  that  the  Registration  Statement
containing such prospectus has been declared effective and that no stop order is
in effect.

                  3.1.10. Earnings Statement.  The Company shall comply with all
applicable  rules and  regulations of the Commission and the Securities Act, and
make  available  to its  shareholders,  as  soon  as  practicable,  an  earnings
statement  covering a period of twelve (12) months,  beginning  within three (3)
months after the effective date of the  registration  statement,  which earnings
statement  shall satisfy the  provisions of Section 11(a) of the  Securities Act
and Rule 158 thereunder.

                  3.1.11.  Listing.  The Company  shall use its best  efforts to
cause all Registrable  Securities  included in any  registration to be listed on
such exchanges or otherwise designated for trading in the same manner as similar
securities  issued by the Company are then listed or  designated  or, if no such
similar  securities are then listed or designated,  in a manner  satisfactory to
the  holders  of a  majority  of the  Registrable  Securities  included  in such
registration.

            3.2   Obligation to Suspend Distribution. Upon receipt of any notice
from the Company of the happening of any event of the kind  described in Section
3.1.4(iv),  or, in the case of a resale  registration  on Form S-3  pursuant  to
Section 2.3 hereof,  upon any  suspension by the Company,  pursuant to a written
insider trading  compliance program adopted by the Company's Board of Directors,
of the  ability of all  "insiders"  covered by such  program to  transact in the
Company's   securities   because  of  the   existence  of  material   non-public
information,  each holder of Registrable Securities included in any registration
shall  immediately   discontinue  disposition  of  such  Registrable  Securities
pursuant to the  Registration  Statement  covering such  Registrable  Securities
until such holder receives the supplemented or amended  prospectus  contemplated
by Section 3.1.4(iv) or the restriction on the ability of "insiders" to transact
in the Company's  securities is removed,  as applicable,  and, if so directed by
the Company, each such holder will deliver to the Company all copies, other than
permanent  file  copies  then in such  holder's  possession,  of the most recent
prospectus  covering such Registrable  Securities at the time of receipt of such
notice.

            3.3   Registration  Expenses.  The Company  shall bear all costs and
expenses incurred in connection with any Demand Registration pursuant to Section
2.1, any Piggy-Back  Registration  pursuant to Section 2.2, and any registration
on Form S-3  effected  pursuant to Section  2.3,  and all  expenses  incurred in
performing or complying with its other obligations under this Agreement, whether
or  not  the  Registration  Statement  becomes  effective,   including,  without
limitation:  (i) all  registration  and filing  fees;  (ii) fees and expenses of
compliance with securities or "blue sky" laws (including fees and  disbursements
of  counsel  in  connection  with  blue sky  qualifications  of the  Registrable
Securities);  (iii)  printing  expenses;  (iv) the Company's  internal  expenses
(including,  without  limitation,  all salaries and expenses of its officers and
employees); (v) the fees and expenses incurred in connection with the listing of
the  Registrable  Securities  as  required  by  Section  3.1.11;  (vi)  National
Association of Securities  Dealers,  Inc. fees; (vii) fees and  disbursements of
counsel for the Company and fees and expenses for independent  certified  public
accountants  retained by the Company (including the expenses or costs associated
with the  delivery of any  opinions  or comfort  letters  requested  pursuant to
Section 3.1.9);  (viii) the fees and expenses of any special experts retained by
the Company in connection with such  registration and (ix) the fees and expenses
of one legal counsel  selected by the holders of a  majority-in-interest  of the
Registrable Securities included in such registration.  The Company shall have no
obligation to pay any underwriting discounts or selling commissions attributable
to  the  Registrable  Securities  being  sold  by  the  holders  thereof,  which
underwriting  discounts  or selling  commissions  shall be borne  solely by such
holders. Additionally, in an underwritten offering, all selling shareholders and
the Company shall bear the expenses of the underwriter pro rata in proportion to
the respective amount of shares each is selling in such offering.

                                       7
<PAGE>

            3.4   Information.  The  holders  of  Registrable  Securities  shall
provide such  information as may reasonably be requested by the Company,  or the
managing  Underwriter,  if  any,  in  connection  with  the  preparation  of any
Registration  Statement,  including amendments and supplements thereto, in order
to effect the  registration of any Registrable  Securities  under the Securities
Act pursuant to Section 2 and in  connection  with the  Company's  obligation to
comply with federal and applicable state securities laws.

            3.5   Holder  Obligations.  No holder of Registrable  Securities may
participate in any underwritten  offering pursuant to this Section 3 unless such
holder (i) agrees to sell only such holder's Registrable Securities on the basis
reasonably provided in any underwriting agreement, and (ii) completes,  executes
and delivers any and all questionnaires, powers of attorney, custody agreements,
indemnities,  underwriting agreements and other documents reasonably required by
or under the terms of any underwriting  agreement or as reasonably  requested by
the Company.

      4.    INDEMNIFICATION AND CONTRIBUTION.

            4.1   Indemnification   by  the  Company.   The  Company  agrees  to
indemnify and hold  harmless each Investor and each other holder of  Registrable
Securities,  and  each of  their  respective  officers,  employees,  affiliates,
directors, partners, members, attorneys and agents, and each person, if any, who
controls an Investor and each other holder of Registrable Securities (within the
meaning of Section 15 of the  Securities  Act or Section 20 of the Exchange Act)
(each, an "Investor Indemnified Party"), from and against any expenses,  losses,
judgments, claims, damages or liabilities, whether joint or several, arising out
of or based upon any untrue  statement  (or  allegedly  untrue  statement)  of a
material fact contained in any  Registration  Statement  under which the sale of
such  Registrable  Securities  was  registered  under the  Securities  Act,  any
preliminary prospectus,  final prospectus or summary prospectus contained in the
Registration  Statement,  or any amendment or  supplement  to such  Registration
Statement, or arising out of or based upon any omission (or alleged omission) to
state a material  fact  required to be stated  therein or  necessary to make the
statements  therein  not  misleading,  or any  violation  by the  Company of the
Securities Act or any rule or regulation  promulgated  thereunder  applicable to
the  Company  and  relating  to action or  inaction  required  of the Company in
connection with any such registration;  and the Company shall promptly reimburse
the Investor  Indemnified Party for any legal and any other expenses  reasonably
incurred by such Investor Indemnified Party in connection with investigating and
defending any such expense, loss, judgment,  claim, damage, liability or action;
provided,  however,  that (a) the Company will not be liable in any such case to
the extent that any such expense, loss, claim, damage or liability arises out of
or is based upon any untrue  statement or allegedly untrue statement or omission
or alleged omission made in such Registration Statement, preliminary prospectus,
final prospectus, or summary prospectus, or any such amendment or supplement, in
reliance upon and in conformity with  information  furnished to the Company,  in
writing, by such selling holder expressly for use therein; and (b) the foregoing
indemnity shall not inure to the benefit of any holder (or benefit of any person
controlling  such holder) from whom the person  asserting  such  expense,  loss,
claim,  damage or liability purchased the Registrable  Securities,  if a copy of
the  Prospectus  (as then  amended or  supplemented  if the  Company  shall have
furnished any amendments or supplements  thereto) was not sent or given by or on
behalf  of such  holder  to such  person,  if  required  by law so to have  been
delivered at or prior to the written confirmation of the sale of the Registrable
Securities to such person, and if the Prospectus (as so amended or supplemented)
would have cured the defect giving rise to such expense,  loss, claim, damage or
liability,  unless such  failure is the result of  noncompliance  by the Company
with Section 3.1.3 hereof.  The Company also shall  indemnify any Underwriter of
the Registrable Securities, their officers,  employees,  affiliates,  directors,
partners,  members,  attorneys  and agents and each  person  who  controls  such
Underwriter  on  substantially  the same  basis  as that of the  indemnification
provided above in this Section 4.1.

            4.2   Indemnification  by Holders of  Registrable  Securities.  Each
selling  holder  of  Registrable   Securities   will,  in  the  event  that  any
registration  is being  effected  under  the  Securities  Act  pursuant  to this
Agreement of any Registrable  Securities held by such selling holder,  indemnify
and hold  harmless  the  Company,  each of its  directors  and officers and each
underwriter  (if any), and each other person,  if any, who controls such selling
holder or such  underwriter  within the meaning of Section 15 of the  Securities
Act or Section 20 of the Exchange Act,  against any losses,  claims,  judgments,

                                       8
<PAGE>

damages or  liabilities,  whether  joint or  several,  insofar  as such  losses,
claims, judgments,  damages or liabilities (or actions in respect thereof) arise
out of or are based upon any untrue statement or allegedly untrue statement of a
material fact contained in any  Registration  Statement  under which the sale of
such  Registrable  Securities  was  registered  under the  Securities  Act,  any
preliminary prospectus,  final prospectus or summary prospectus contained in the
Registration  Statement,  or any  amendment or  supplement  to the  Registration
Statement,  or arise  out of or are  based  upon  any  omission  or the  alleged
omission to state a material fact required to be stated  therein or necessary to
make the statement therein not misleading, if the statement or omission was made
in reliance upon and in conformity with information  furnished in writing to the
Company by such selling holder  expressly for use therein,  and shall  reimburse
the Company,  its directors and officers,  and each such controlling  person for
any legal or other  expenses  reasonably  incurred by any of them in  connection
with  investigation  or defending  any such loss,  claim,  damage,  liability or
action.  Each selling holder's  indemnification  obligations  hereunder shall be
several  and not joint and shall be limited  to the  amount of any net  proceeds
actually  received by such  selling  holder in  connection  with the sale of the
Registrable  Securities  by such  selling  holder  pursuant to the  Registration
Statement containing such untrue statement or allegedly untrue statement.

            4.3   Conduct of Indemnification Proceedings. Promptly after receipt
by any  person of any  notice of any loss,  claim,  damage or  liability  or any
action in respect of which  indemnity  may be sought  pursuant to Section 4.1 or
4.2, such person (the "Indemnified  Party") shall, if a claim in respect thereof
is to be made against any other person for indemnification  hereunder,  promptly
notify  such other  person  (the  "Indemnifying  Party") in writing of the loss,
claim,  judgment,  damage,  liability  or action;  provided,  however,  that the
failure by the  Indemnified  Party to notify the  Indemnifying  Party  shall not
relieve the Indemnifying  Party from any liability which the Indemnifying  Party
may have to such Indemnified  Party  hereunder,  except and solely to the extent
the Indemnifying Party is actually materially prejudiced by such failure. If the
Indemnified Party is seeking indemnification with respect to any claim or action
brought  against the Indemnified  Party,  then the  Indemnifying  Party shall be
entitled  to  participate  in such claim or action,  and,  to the extent that it
elects,  jointly with all other Indemnifying  Parties,  to assume control of the
defense thereof with counsel satisfactory to the Indemnified Party. After notice
from the Indemnifying  Party to the Indemnified  Party of its election to assume
control of the defense of such claim or action, the Indemnifying Party shall not
be liable to the Indemnified Party for any legal or other expenses  subsequently
incurred by the  Indemnified  Party in connection with the defense thereof other
than reasonable costs of investigation; provided, however, that in any action in
which  both the  Indemnified  Party  and the  Indemnifying  Party  are  named as
defendants,  the  Indemnified  Party  shall  have the right to  employ  separate
counsel  (but  no  more  than  one  such  separate  counsel)  to  represent  the
Indemnified  Party and its  controlling  persons who may be subject to liability
arising  out of any claim in  respect  of which  indemnity  may be sought by the
Indemnified Party against the Indemnifying  Party, with the fees and expenses of
such  counsel to be paid by such  Indemnifying  Party if, based upon the written
opinion of counsel of such Indemnified Party,  representation of both parties by
the same counsel  would be  inappropriate  due to actual or potential  differing
interests between them. No Indemnifying  Party shall,  without the prior written
consent of the  Indemnified  Party,  consent to entry of  judgment or effect any
settlement of any claim or pending or threatened  proceeding in respect of which
the  Indemnified  Party is or could have been a party and  indemnity  could have
been  sought  hereunder  by such  Indemnified  Party,  unless  such  judgment or
settlement includes an unconditional  release of such Indemnified Party from all
liability arising out of such claim or proceeding.

            4.4   Contribution.

                  4.4.1. If the  indemnification  provided for in the  foregoing
Sections 4.1, 4.2 and 4.3 is unavailable to any Indemnified  Party in respect of
any loss, claim, damage,  liability or action referred to herein, 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,  claim,  damage,  liability  or action in such  proportion  as is
appropriate to reflect the relative benefits received by the Indemnified Parties
and the  Indemnifying  Parties from the offering,  if,  however,  the allocation
provided by the  immediately  preceding  sentence is not permitted by applicable
law or if the Indemnified Party failed to give the notice required under Section
4.3 above, then each Indemnifying  Party shall contribute to such amount paid or
payable  by such  Indemnified  Party in such  proportion  as is  appropriate  to
reflect  not only such  relative  benefits  but also the  relative  fault of the
Indemnified Parties and the Indemnifying  Parties in connection with the actions
or omissions which resulted in such loss, claim, damage, liability or action, as
well as any other relevant equitable  considerations.  The relative fault of any
Indemnified  Party and any  Indemnifying  Party shall be determined by reference
to,  among other  things,  whether the untrue or alleged  untrue  statement of a
material  fact or the  omission  or alleged  omission  to state a material  fact
relates to information  supplied by such Indemnified  Party or such Indemnifying
Party and the parties'  relative  intent,  knowledge,  access to information and
opportunity to correct or prevent such statement or omission.

                                       9
<PAGE>

                  4.4.2. The parties  hereto agree that it would not be just and
equitable if  contribution  pursuant to this Section 4.4 were  determined by pro
rata allocation or by any other method of allocation which does not take account
of the equitable considerations referred to in the immediately preceding Section
4.4.1.  The amount  paid or payable by an  Indemnified  Party as a result of any
loss,  claim,  damage,  liability  or  action  referred  to in  the  immediately
preceding  paragraph shall be deemed to include,  subject to the limitations set
forth above, any legal or other expenses  incurred by such Indemnified  Party in
connection   with   investigating   or  defending  any  such  action  or  claim.
Notwithstanding  the  provisions  of this Section 4.4, no holder of  Registrable
Securities  shall be required to  contribute  any amount in excess of the dollar
amount of the net proceeds (after payment of any underwriting  fees,  discounts,
commissions  or  taxes)  actually  received  by such  holder  from  the  sale of
Registrable  Securities  which  gave rise to such  contribution  obligation.  No
person  guilty of  fraudulent  misrepresentation  (within the meaning of Section
11(f) of the Securities Act) shall be entitled to  contribution  from any person
who was not guilty of such fraudulent misrepresentation.

      5.    UNDERWRITING AND DISTRIBUTION.

            5.1   Rule 144. The Company covenants that it shall file any reports
required to be filed by it under the  Securities  Act and the  Exchange  Act and
shall take such  further  action as the holders of  Registrable  Securities  may
reasonably request,  all to the extent required from time to time to enable such
holders to sell Registrable Securities without registration under the Securities
Act within  the  limitation  of the  exemptions  provided  by Rule 144 under the
Securities  Act, as such Rules may be amended from time to time,  or any similar
Rule or regulation (but not Rule 144A) hereafter adopted by the Commission.

      6.    MISCELLANEOUS.

            6.1   Other Registration Rights. The Company represents and warrants
that , with the exception of shares issuable pursuant to the Purchase Option, no
person,  other  than a holder of the  Registrable  Securities,  has any right to
require the Company to register any shares of the  Company's  capital  stock for
sale or to include  shares of the Company's  capital  stock in any  registration
filed by the Company for the sale of shares of capital stock for its own account
or for the account of any other person.

            6.2   Assignment;  No Third Party Beneficiaries.  This Agreement and
the rights,  duties and obligations of the Company hereunder may not be assigned
or delegated by the Company in whole or in part.  This Agreement and the rights,
duties and obligations of the holders of Registrable Securities hereunder may be
freely  assigned  or  delegated  by such  holder of  Registrable  Securities  in
conjunction with and to the extent of any transfer of Registrable  Securities by
any such holder in  accordance  with  applicable  law.  This  Agreement  and the
provisions  hereof  shall be binding upon and shall inure to the benefit of each
of the parties and their respective  successors and the permitted assigns of the
Investor or holder of Registrable  Securities or of any assignee of the Investor
or holder of  Registrable  Securities.  This Agreement is not intended to confer
any rights or benefits on any persons  that are not party  hereto  other than as
expressly set forth in Article 4 and this Section 6.2.

            6.3   Notices. All notices, demands, requests,  consents,  approvals
or other  communications  (collectively,  "Notices") required or permitted to be
given  hereunder or which are given with respect to this  Agreement  shall be in
writing and shall be  personally  served,  delivered  by  reputable  air courier
service with charges prepaid, or transmitted by hand delivery,  telegram,  telex
or  facsimile,  addressed as set forth below,  or to such other  address as such
party  shall  have  specified  most  recently  by  written  notice  provided  in
accordance  with this Section  6.3.  Notice shall be deemed given on the date of
service or transmission if personally  served or transmitted by telegram,  telex
or  facsimile;  provided,  that  if such  service  or  transmission  is not on a
business day or is after normal business hours, then such notice shall be deemed
given on the next business day.  Notice  otherwise sent as provided herein shall
be deemed  given on the next  business  day  following  timely  delivery of such
notice to a reputable air courier service with an order for next-day delivery.

                                       10
<PAGE>

To the Company:

   Viceroy Acquisition Corporation
   8235 Forsyth Boulevard, Suite 400
   Clayton, Missouri  63105
   Attention: Chief Executive Officer

with a copy to:

   Mintz, Levin, Cohn, Ferris, Glovsky & Popeo P.C.
   666 Third Avenue, 25th Floor
   New York, NY 10017
   Attn: Kenneth Koch, Esq.; and

   Blank Rome LLP
   405 Lexington Avenue, 24th Floor
   New York, New York 10174
   Attention: James Martin Kaplan

   To an Investor, to:

   Lee E. Mikles Revocable Trust dated March 26, 1996             ; or
   [Address]

   Lee E. Mikles Gift Trust dated October 6, 1999                 ; or
   [Address]

   RAS, LLC                                                       ; or
   [Address]

   St. Albans Global Management, Limited Liability Limited        ; or
   Partnership
   [Address]

   Douglas D. Hommert Revocable Trust                             ; or
   [Address]

   Joe C. Leach                                                   ; or
   [Address]

   Edwin A. Levy                                                  ; or
   [Address]

   Mark R. Miller                                                 ; or
   [Address]

with a copy to:

   Blank Rome LLP
   405 Lexington Avenue, 24th Floor
   New York, New York 10174

            6.4   Severability.  This Agreement shall be deemed  severable,  and
the  invalidity or  unenforceability  of any term or provision  hereof shall not
affect the validity or  enforceability of this Agreement or of any other term or
provision hereof. Furthermore, in lieu of any such invalid or unenforceable term
or provision,  the parties  hereto intend that there shall be added as a part of
this Agreement a provision as similar in terms to such invalid or  unenforceable
provision as may be possible and be valid and enforceable.

            6.5   Counterparts.  This  Agreement  may be  executed  in  multiple
counterparts,  each of which shall be deemed an original, and all of which taken
together shall constitute one and the same instrument.

                                       11
<PAGE>

            6.6   Entire  Agreement.  This  Agreement  (including all agreements
entered into pursuant  hereto and all  certificates  and  instruments  delivered
pursuant hereto and thereto) constitute the entire agreement of the parties with
respect to the subject matter hereof and supersede all prior and contemporaneous
agreements,  representations,   understandings,   negotiations  and  discussions
between the parties, whether oral or written.

            6.7   Modifications  and Amendments.  No amendment,  modification or
termination of this Agreement shall be binding upon any party unless executed in
writing by such party.

            6.8   Titles and  Headings.  Titles and headings of sections of this
Agreement are for convenience  only and shall not affect the construction of any
provision of this Agreement.

            6.9   Waivers and Extensions.  Any party to this Agreement may waive
any right,  breach or default which such party has the right to waive,  provided
that such waiver will not be effective against the waiving party unless it is in
writing,  is signed by such party,  and  specifically  refers to this Agreement.
Waivers  may be made in  advance  or after the right  waived  has  arisen or the
breach or default waived has occurred. Any waiver may be conditional.  No waiver
of any breach of any agreement or provision  herein  contained shall be deemed a
waiver of any preceding or succeeding  breach thereof nor of any other agreement
or provision herein contained. No waiver or extension of time for performance of
any  obligations  or acts shall be deemed a waiver or  extension of the time for
performance of any other obligations or acts.

            6.10  Remedies  Cumulative.  In the event that the Company  fails to
observe or perform any covenant or  agreement to be observed or performed  under
this Agreement,  the Investor or any other holder of Registrable  Securities may
proceed to protect  and  enforce  its rights by suit in equity or action at law,
whether for specific  performance of any term contained in this Agreement or for
an  injunction  against the breach of any such term or in aid of the exercise of
any power  granted in this  Agreement or to enforce any other legal or equitable
right,  or to take any one or more of such actions,  without  being  required to
post a bond.  None of the  rights,  powers  or  remedies  conferred  under  this
Agreement  shall be mutually  exclusive,  and each such  right,  power or remedy
shall be cumulative and in addition to any other right, power or remedy, whether
conferred by this Agreement or now or hereafter  available at law, in equity, by
statute or otherwise.

            6.11  Governing   Law.   This   Agreement   shall  be  governed  by,
interpreted  under,  and construed in  accordance  with the internal laws of the
State of Delaware  applicable to agreements made and to be performed  within the
State of Delaware, without giving effect to any choice-of-law provisions thereof
that  would  compel  the  application  of the  substantive  laws  of  any  other
jurisdiction.

            6.12  Waiver of Trial by Jury.  Each party  hereby  irrevocably  and
unconditionally  waives  the  right  to a trial  by jury  in any  action,  suit,
counterclaim or other proceeding (whether based on contract,  tort or otherwise)
arising out of,  connected with or relating to this Agreement,  the transactions
contemplated  hereby,  or the  actions  of  the  Investor  in  the  negotiation,
administration, performance or enforcement hereof.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       12
<PAGE>

      IN WITNESS  WHEREOF,  the parties  have caused  this  Registration  Rights
Agreement to be executed and delivered by their duly authorized  representatives
as of the date first written above.

                                           VICEROY ACQUISITION CORPORATION
                                           a Delaware corporation

                                           By:
                                             -----------------------------------
                                             Lee E. Mikles,
                                             Chief Executive Officer

                                           INVESTORS:

                                           -------------------------------------
                                           Lee E. Mikles Revocable Trust
                                           dated March 26, 1996

                                           -------------------------------------
                                           Lee E. Mikles Gift Trust
                                           dated October 6, 1999

                                           -------------------------------------
                                           RAS, LLC

                                           -------------------------------------
                                           St. Albans Global Management,
                                           Limited Liability Limited Partnership

                                           -------------------------------------
                                           Douglas D. Hommert Revocable Trust

                                           -------------------------------------
                                           Joe C. Leach

                                           -------------------------------------
                                           Edwin A. Levy

                                           -------------------------------------
                                           Mark R. Miller

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