Document:

Unassociated Document

    

    EXHIBIT
10.8                    

    

    REGISTRATION
RIGHTS AGREEMENT

    

    This Registration Rights Agreement
(this “Agreement”) is made
and entered into as of January 28, 2009, between Celsia Technologies, Inc., a
Nevada corporation (the “Company”) and each of
the several purchasers signatory hereto (each such purchaser, a “Purchaser” and,
collectively, the “Purchasers”).

    

    This Agreement is made pursuant to the
Securities Purchase Agreement, dated as of the date hereof, between the Company
and each Purchaser (the “Purchase
Agreement”).

    

    The Company and each Purchaser hereby
agrees as follows:

    

    1.           Definitions.

    

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

    

    “Advice” shall have
the meaning set forth in Section 6(d).

    

    “Conversion Shares”
means, collectively, the shares of Common Stock issuable upon conversion of the
Debentures in accordance with the terms thereof.

    

    “Effectiveness Date”
means, with respect to the Initial Registration Statement required to be filed
hereunder, the 90th
calendar day following the date the Company receives a Demand Notice and with
respect to any additional Registration Statements which may be required pursuant
to Section 3(c), the 90th
calendar day following the date on which an additional Registration Statement is
required to be filed hereunder; provided, however, that in the
event the Company is notified by the Commission that one or more of the above
Registration Statements will not be reviewed or is no longer subject to further
review and comments, the Effectiveness Date as to such Registration Statement
shall be the fifth Trading Day following the date on which the Company is so
notified if such date precedes the dates otherwise required above.

    

    “Effectiveness Period”
shall have the meaning set forth in Section 2.

    

    “Filing Date” means,
with respect to the Initial Registration Statement required hereunder, the
30th
calendar day following the date the Company receives a written request (a “Demand Notice”) from
the holders of 60% or more of the Registrable Securities requesting that the
Company file such Initial Registration Statement and, with respect to any
additional Registration Statements which may be required pursuant to Section
3(c), the earliest practical date on which the Company is permitted by SEC
Guidance to file such additional Registration Statement related to the
Registrable Securities.

    
      
         

      

      
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    “Holder” or “Holders” means the
holder or holders, as the case may be, from time to time of Registrable
Securities.

    

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

    

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

    

    “Initial Registration
Statement” means the initial Registration Statement filed pursuant to
this Agreement.

    

    “Initial Shares” means
a number of Registrable Securities equal to the lesser of (i) the total number
of Registrable Securities and (ii) one-third of the number of issued and
outstanding shares of Common Stock that are held by non-affiliates of the
Company on the day immediately prior to the filing date of the Initial
Registration Statement.

    

    “Losses” shall have
the meaning set forth in Section 5(a).

    

    “Plan of Distribution”
shall have the meaning set forth in Section 2.

    

    “Prospectus” means the
prospectus included in a Registration Statement (including, without limitation,
a prospectus that includes any information previously omitted from a prospectus
filed as part of an effective registration statement in reliance upon Rule 430A
promulgated by the Commission pursuant to the Securities Act), as amended or
supplemented by any prospectus supplement, with respect to the terms of the
offering of any portion of the Registrable Securities covered by a Registration
Statement, and all other amendments and supplements to the Prospectus, including
post-effective amendments, and all material incorporated by reference or deemed
to be incorporated by reference in such Prospectus.

    

    “Registrable
Securities” means (a) all of the shares of Common Stock issuable upon
conversion in full of the Debentures (assuming on the date of determination the
Debentures are converted in full without regard to any conversion limitations
therein), (b) all Warrant Shares (assuming on the date of determination the
Warrants are exercised in full without regard to any exercise limitations
therein), (c) any additional shares of Common Stock issuable in connection with
any anti-dilution provisions in the Debentures or the Warrants (in each case,
without giving effect to any limitations on conversion set forth in the
Debentures or limitations on exercise set forth in the Warrants) and (d) any
securities issued or issuable upon any stock split, dividend or other
distribution,  recapitalization or similar event with respect to the
foregoing; provided, however, that the
Company shall not be required to maintain the effectiveness, or file another
Registration Statement hereunder with respect to any Registrable Securities that
are not subject to the current public information requirement under Rule 144 and
that are eligible for resale without volume or manner-of-sale restrictions
without current public information pursuant to Rule 144 promulgated by the
Commission pursuant to a written opinion letter to such effect, addressed,
delivered and acceptable to the Transfer Agent and the affected
Holders.

    
      
         

      

      
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    “Registration
Statement” means any registration statement required to be filed
hereunder pursuant to Section 2 and any additional registration statements
contemplated by Section 3(c), including (in each case) the Prospectus,
amendments and supplements to any such registration statement or Prospectus,
including pre- and post-effective amendments, all exhibits thereto, and all
material incorporated by reference or deemed to be incorporated by reference in
any such registration statement.

    

     “Rule 415” means Rule
415 promulgated by the Commission pursuant to the Securities Act, as such Rule
may be amended or interpreted from time to time, or any similar rule or
regulation hereafter adopted by the Commission having substantially the same
purpose and effect as such Rule.

    

    “Rule 424” means Rule
424 promulgated by the Commission pursuant to the Securities Act, as such Rule
may be amended or interpreted from time to time, or any similar rule or
regulation hereafter adopted by the Commission having substantially the same
purpose and effect as such Rule.

    

    “Selling Stockholder
Questionnaire” shall have the meaning set forth in Section
3(a).

    

    “SEC Guidance” means
(i) any publicly-available written or oral guidance, comments, requirements or
requests of the Commission staff and (ii) the Securities Act.

    
      
         

      

      
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    2.           Shelf
Registration.

    

    On or
prior to each Filing Date, the Company shall prepare and file with the
Commission a Registration Statement covering the resale of all or such maximum
portion of the Registrable Securities as permitted by SEC Guidance (provided
that, the Company shall use diligent efforts to advocate with the Commission for
the registration of all of the Registrable Securities in accordance with the SEC
Guidance, including without limitation, the Manual of Publicly Available
Telephone Interpretations D.29) that are not then registered on an effective
Registration Statement for an offering to be made on a continuous basis pursuant
to Rule 415.  Each Registration Statement filed hereunder shall be on
Form S-3 (except if the Company is not then eligible to register for resale the
Registrable Securities on Form S-3, in which case such registration shall be on
another appropriate form in accordance herewith) and shall contain (unless
otherwise directed by at least an 85% majority in interest of the Holders)
substantially the “Plan of Distribution”
attached hereto as Annex
A.  Subject to the terms of this Agreement, the Company shall
use its reasonable best efforts to cause a Registration Statement to be declared
effective under the Securities Act as promptly as possible after the filing
thereof, but in any event prior to the applicable Effectiveness Date, and shall
use its reasonable best efforts to keep such Registration Statement continuously
effective under the Securities Act until all Registrable Securities covered by
such Registration Statement have been sold, or may be sold without volume or
manner-of-sale restrictions pursuant to Rule 144, without the requirement for
the Company to be in compliance with the current public information requirement
under Rule 144, as determined by the counsel to the Company pursuant to a
written opinion letter to such effect, addressed and acceptable to the Transfer
Agent and the affected Holders (the “Effectiveness
Period”).  The Company shall telephonically request
effectiveness of a Registration Statement as of 5:00 p.m. New York City time on
a Trading Day.   The Company shall immediately notify the Holders
via facsimile or by e-mail of the effectiveness of a Registration Statement on
the same Trading Day that the Company telephonically confirms effectiveness with
the Commission, which shall be the date requested for effectiveness of such
Registration Statement.  The Company shall, by 9:30 a.m. New York City
time on the Trading Day after the effective date of such Registration Statement,
file a final Prospectus with the Commission as required by Rule
424.  Notwithstanding any other
provision of this Agreement, if any SEC Guidance sets forth a limitation on the
number of Registrable Securities permitted to be registered on a particular
Registration Statement (and notwithstanding that the Company used diligent
efforts to advocate with the Commission for the registration of all or a greater
portion of Registrable Securities), unless otherwise directed in writing by a
Holder as to its Registrable Securities, the number of Registrable Securities to
be registered on such Registration Statement will first be reduced by
Registrable Securities represented by Warrant Shares (applied, in the case that
some Warrant Shares may be registered, to the Holders on a pro rata basis based
on the total number of unregistered Warrant Shares held by such Holders), and
second by Registrable Securities represented by Conversion Shares (applied, in
the case that some Conversion Shares may be registered, to the Holders on a pro
rata basis based on the total number of unregistered Conversion Shares held by
such Holders); provided, however, that, prior to any reduction in the number of
Registrable Securities included in a Registration Statement as set forth in this
sentence, all shares of Common Stock set forth on Schedule 6(b) hereto shall be reduced first. In the event of a
cutback hereunder, the Company shall give the Holder at least 5 Trading Days
prior written notice along with the calculations as to such Holder’s
allotment.

    

    3.           Registration
Procedures.

    

    In connection with the Company’s
registration obligations hereunder, the Company shall:

    
      
         

      

      
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    (a)           Not
less than five (5) Trading Days prior to the filing of each Registration
Statement and not less than one (1) Trading Day prior to the filing of any
related Prospectus or any amendment or supplement thereto (including any
document that would be incorporated or deemed to be incorporated therein by
reference), the Company shall (i) furnish to each Holder copies of all such
documents proposed to be filed, which documents (other than those incorporated
or deemed to be incorporated by reference) will be subject to the review of such
Holders, and (ii) cause its officers and directors, counsel and independent
registered public accountants to respond to such inquiries as shall be
necessary, in the reasonable opinion of respective counsel to each Holder, to
conduct a reasonable investigation within the meaning of the Securities Act. The
Company shall not file a Registration Statement or any such Prospectus or any
amendments or supplements thereto to which the Holders of a majority of the
Registrable Securities shall reasonably object in good faith, provided that, the
Company is notified of such objection in writing no later than five (5) Trading
Days after the Holders have been so furnished copies of a Registration Statement
or one (1) Trading Day after the Holders have been so furnished copies of any
related Prospectus or amendments or supplements thereto. Each Holder agrees to
furnish to the Company a completed questionnaire in the form attached to this
Agreement as Annex
B (a “Selling
Stockholder Questionnaire”) on a date that is not less than two (2)
Trading Days prior to the Filing Date or by the end of the fourth (4th)
Trading Day following the date on which such Holder receives draft materials in
accordance with this Section.

    

    (b)           (i)
Prepare and file with the Commission such amendments, including post-effective
amendments, to a Registration Statement and the Prospectus used in connection
therewith as may be necessary to keep a Registration Statement continuously
effective as to the applicable Registrable Securities for the Effectiveness
Period and prepare and file with the Commission such additional Registration
Statements in order to register for resale under the Securities Act all of the
Registrable Securities, (ii) cause the related Prospectus to be amended or
supplemented by any required Prospectus supplement (subject to the terms of this
Agreement), and, as so supplemented or amended, to be filed pursuant to Rule
424, (iii) respond as promptly as reasonably possible to any comments received
from the Commission with respect to a Registration Statement or any amendment
thereto and provide as promptly as reasonably possible to the Holders true and
complete copies of all correspondence from and to the Commission relating to a
Registration Statement (provided that, the Company may excise any information
contained therein which would constitute material non-public information as to
any Holder which has not executed a confidentiality agreement with the Company),
and (iv) comply in all material respects with the provisions of the Securities
Act and the Exchange Act with respect to the disposition of all Registrable
Securities covered by a Registration Statement during the applicable period in
accordance (subject to the terms of this Agreement) with the intended methods of
disposition by the Holders thereof set forth in such Registration Statement as
so amended or in such Prospectus as so supplemented.

    

    (c)           If
during the Effectiveness Period, the number of Registrable Securities at any
time exceeds 100% of the number of shares of Common Stock then registered in a
Registration Statement, then the Company shall file as soon as reasonably
practicable, but in any case prior to the applicable Filing Date, an additional
Registration Statement covering the resale by the Holders of not less than the
number of such Registrable Securities.

    
      
         

      

      
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    (d)           Notify
the Holders of Registrable Securities to be sold (which notice shall, pursuant
to clauses (iii) through (vi) hereof, be accompanied by an instruction to
suspend the use of the Prospectus until the requisite changes have been made) as
promptly as reasonably possible (and, in the case of (i)(A) below, not less than
one Trading Day prior to such filing) and (if requested by any such Person)
confirm such notice in writing no later than one Trading Day following the day
(i)(A) when a Prospectus or any Prospectus supplement or post-effective
amendment to a Registration Statement is proposed to be filed, (B) when the
Commission notifies the Company whether there will be a “review” of such
Registration Statement and whenever the Commission comments in writing on such
Registration Statement, and (C) with respect to a Registration Statement or any
post-effective amendment, when the same has become effective, (ii) of any
request by the Commission or any other federal or state governmental authority
for amendments or supplements to a Registration Statement or Prospectus or for
additional information, (iii) of the issuance by the Commission or any other
federal or state governmental authority of any stop order suspending the
effectiveness of a Registration Statement covering any or all of the Registrable
Securities or the initiation of any Proceedings for that purpose; (iv) of the
receipt by the Company of any notification with respect to the suspension of the
qualification or exemption from qualification of any of the Registrable
Securities for sale in any jurisdiction, or the initiation or threatening of any
Proceeding for such purpose, (v) of the occurrence of any event or passage of
time that makes the financial statements included in a Registration Statement
ineligible for inclusion therein or any statement made in a Registration
Statement or Prospectus or any document incorporated or deemed to be
incorporated therein by reference untrue in any material respect or that
requires any revisions to a Registration Statement, Prospectus or other
documents so that, in the case of a Registration Statement or the Prospectus, as
the case may be, it will not contain any untrue statement of a material fact or
omit to state any material fact required to be stated therein or necessary to
make the statements therein, in light of the circumstances under which they were
made, not misleading and (vi) of the occurrence or existence of any pending
corporate development with respect to the Company that the Company believes may
be material and that, in the determination of the Company, makes it not in the
best interest of the Company to allow continued availability of a Registration
Statement or Prospectus, provided that, any and all of such information shall
remain confidential to each Holder until such information otherwise becomes
public, unless disclosure by a Holder is required by law; provided, further, that
notwithstanding each Holder’s agreement to keep such information confidential,
each such Holder makes no acknowledgement that any such information is material,
non-public information.

    

    (e)           Use
its reasonable best efforts to avoid the issuance of, or, if issued, obtain the
withdrawal of (i) any order stopping or suspending the effectiveness of a
Registration Statement, or (ii) any suspension of the qualification (or
exemption from qualification) of any of the Registrable Securities for sale in
any jurisdiction, at the earliest practicable moment.

    

    (f)           Furnish
to each Holder, without charge, at least one conformed copy of each such
Registration Statement and each amendment thereto, including financial
statements and schedules, all documents incorporated or deemed to be
incorporated therein by reference to the extent requested by such Person, and
all exhibits to the extent requested by such Person (including those previously
furnished or incorporated by reference) promptly after the filing of such
documents with the Commission; provided, that any such item which is available
on the EDGAR system need not be furnished in physical form.

    
      
         

      

      
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    (g)           Subject
to the terms of this Agreement, the Company hereby consents to the use of such
Prospectus and each amendment or supplement thereto by each of the selling
Holders in connection with the offering and sale of the Registrable Securities
covered by such Prospectus and any amendment or supplement thereto, except after
the giving of any notice pursuant to Section 3(d).

    

    (h)           
The Company shall cooperate with any broker-dealer through which a Holder
proposes to resell its Registrable Securities in effecting a filing with the
FINRA Corporate Financing Department pursuant to NASD Rule 2710, as requested by
any such Holder, and the Company shall pay the filing fee required by such
filing within two (2) Business Days of request therefor.

    

    (i)           Prior
to any resale of Registrable Securities by a Holder, use its commercially
reasonable efforts to register or qualify or cooperate with the selling Holders
in connection with the registration or qualification (or exemption from the
Registration or qualification) of such Registrable Securities for the resale by
the Holder under the securities or Blue Sky laws of such jurisdictions within
the United States as any Holder reasonably requests in writing, to keep each
registration or qualification (or exemption therefrom) effective during the
Effectiveness Period and to do any and all other acts or things reasonably
necessary to enable the disposition in such jurisdictions of the Registrable
Securities covered by each Registration Statement; provided, that, the Company
shall not be required to qualify generally to do business in any jurisdiction
where it is not then so qualified, subject the Company to any material tax in
any such jurisdiction where it is not then so subject or file a general consent
to service of process in any such jurisdiction.

    

    (j)           If
requested by a Holder, cooperate with such Holders to facilitate the timely
preparation and delivery of certificates representing Registrable Securities to
be delivered to a transferee pursuant to a Registration Statement, which
certificates shall be free, to the extent permitted by the Purchase Agreement,
of all restrictive legends, and to enable such Registrable Securities to be in
such denominations and registered in such names as any such Holder may
request.

    

    (k)           Upon
the occurrence of any event contemplated by Section 3(d), as promptly as
reasonably possible under the circumstances taking into account the Company’s
good faith assessment of any adverse consequences to the Company and its
stockholders of the premature disclosure of such event, prepare a supplement or
amendment, including a post-effective amendment, to a Registration Statement or
a supplement to the related Prospectus or any document incorporated or deemed to
be incorporated therein by reference, and file any other required document so
that, as thereafter delivered, neither a Registration Statement nor such
Prospectus will contain an untrue statement of a material fact or omit to state
a material fact required to be stated therein or necessary to make the
statements therein, in light of the circumstances under which they were made,
not misleading.  If the Company notifies
the Holders in accordance with clauses (iii) through (vi) of Section 3(d) above
to suspend the use of any Prospectus until the requisite changes to such
Prospectus have been made, then the Holders shall suspend use of such
Prospectus.  The Company will use its reasonable best efforts to
ensure that the use of the Prospectus may be resumed as promptly as is
practicable.  The Company shall be entitled to exercise its right
under this Section 3(k) to suspend the availability of a Registration Statement
and Prospectus, for a period not to exceed 60 calendar days (which need not be
consecutive days) in any 12 month period.

    
      
         

      

      
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    (l)           Comply
with all applicable rules and regulations of the Commission.

    

    (m)           The
Company may require each selling Holder to furnish to the Company a certified
statement as to the number of shares of Common Stock beneficially owned by such
Holder and, if required by the Commission, the natural persons thereof that have
voting and dispositive control over the shares.

    

    4.           Registration
Expenses. All fees and expenses incident to the performance of or
compliance with this Agreement by the Company shall be borne by the Company
whether or not any Registrable Securities are sold pursuant to a Registration
Statement. The fees and expenses referred to in the foregoing sentence shall
include, without limitation, (i) all registration and filing fees (including,
without limitation, fees and expenses of the Company’s counsel and independent
registered public accountants) (A) with respect to filings made with the
Commission, (B) with respect to filings required to be made with any Trading
Market on which the Common Stock is then listed for trading, (C) in compliance
with applicable state securities or Blue Sky laws reasonably agreed to by the
Company in writing (including, without limitation, fees and disbursements of
counsel for the Company in connection with Blue Sky qualifications or exemptions
of the Registrable Securities) and (D) if not previously paid by the Company in
connection with an Issuer Filing, with respect to any filing that may be
required to be made by any broker through which a Holder intends to make sales
of Registrable Securities with the FINRA pursuant to NASD Rule 2710, so long as
the broker is receiving no more than a customary brokerage commission in
connection with such sale, (ii) printing expenses (including, without
limitation, expenses of printing certificates for Registrable Securities), (iii)
messenger, telephone and delivery expenses, (iv) fees and disbursements of
counsel for the Company, (v) Securities Act liability insurance, if the Company
so desires such insurance, and (vi) fees and expenses of all other Persons
retained by the Company in connection with the consummation of the transactions
contemplated by this Agreement.  In addition, the Company shall be
responsible for all of its internal expenses incurred in connection with the
consummation of the transactions contemplated by this Agreement (including,
without limitation, all salaries and expenses of its officers and employees
performing legal or accounting duties), the expense of any annual audit and the
fees and expenses incurred in connection with the listing of the Registrable
Securities on any securities exchange as required hereunder.  In no
event shall the Company be responsible for any broker or similar commissions of
any Holder or, except to the extent provided for in the Transaction Documents,
any legal fees or other costs of the Holders.

    
      
         

      

      
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    5.           Indemnification.

    

    (a)           Indemnification by the
Company. The Company shall, notwithstanding any termination of this
Agreement, indemnify and hold harmless each Holder, the officers, directors,
members, partners, agents, brokers (including brokers who offer and sell
Registrable Securities as principal as a result of a pledge or any failure to
perform under a margin call of Common Stock), investment advisors and employees
(and any other Persons with a functionally equivalent role of a Person holding
such titles, notwithstanding a lack of such title or any other title) of each of
them, each Person who controls any such Holder (within the meaning of Section 15
of the Securities Act or Section 20 of the Exchange Act) and the officers,
directors, members, stockholders, partners, agents and employees (and any other
Persons with a functionally equivalent role of a Person holding such titles,
notwithstanding a lack of such title or any other title) of each such
controlling Person, to the fullest extent permitted by applicable law, from and
against any and all losses, claims, damages, liabilities, costs (including,
without limitation, reasonable attorneys’ fees) and expenses (collectively,
“Losses”), as
incurred, arising out of or relating to (1) any untrue or alleged untrue
statement of a material fact contained in a Registration Statement, any
Prospectus or any form of prospectus or in any amendment or supplement thereto
or in any preliminary prospectus, or arising out of or relating to any omission
or alleged omission of a material fact required to be stated therein or
necessary to make the statements therein (in the case of any Prospectus or
supplement thereto, in light of the circumstances under which they were made)
not misleading or (2) any violation or alleged violation by the Company of the
Securities Act, the Exchange Act or any state securities law, or any rule or
regulation thereunder, in connection with the performance of its obligations
under this Agreement, except to the extent, but only to the extent, that (i)
such untrue statements or omissions are based solely upon information regarding
such Holder furnished in writing to the Company by such Holder expressly for use
therein, or to the extent that such information relates to such Holder or such
Holder’s proposed method of distribution of Registrable Securities and was
reviewed and expressly approved in writing by such Holder expressly for use in a
Registration Statement, such Prospectus or in any amendment or supplement
thereto (it being understood that the Holder has approved Annex A hereto for
this purpose) or (ii) in the case of an occurrence of an event of the type
specified in Section 3(d)(iii)-(vi), the use by such Holder of an outdated or
defective Prospectus after the Company has notified such Holder in writing that
the Prospectus is outdated or defective and prior to the receipt by such Holder
of the Advice contemplated in Section 6(d).  The Company shall notify
the Holders promptly of the institution, threat or assertion of any Proceeding
arising from or in connection with the transactions contemplated by this
Agreement of which the Company is aware.

    
      
         

      

      
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    (b)           Indemnification by
Holders. Each Holder shall, severally and not jointly, indemnify and hold
harmless the Company, its directors, officers, agents and employees, each Person
who controls the Company (within the meaning of Section 15 of the Securities Act
and Section 20 of the Exchange Act), and the directors, officers, agents or
employees of such controlling Persons, to the fullest extent permitted by
applicable law, from and against all Losses, as incurred, to the extent arising
out of or based solely upon: (x) such Holder’s failure to comply with the
prospectus delivery requirements of the Securities Act or (y) any untrue or
alleged untrue statement of a material fact contained in any Registration
Statement, any Prospectus, or in any amendment or supplement thereto or in any
preliminary prospectus, or arising out of or relating to any omission or alleged
omission of a material fact required to be stated therein or necessary to make
the statements therein not misleading (i) to the extent, but only to the extent,
that such untrue statement or omission is contained in any information so
furnished in writing by such Holder to the Company specifically for inclusion in
such Registration Statement or such Prospectus or (ii) to the extent that such
information relates to such Holder’s proposed method of distribution of
Registrable Securities and was reviewed and expressly approved in writing by
such Holder expressly for use in a Registration Statement (it being understood
that the Holder has approved Annex A hereto for this purpose), such Prospectus
or in any amendment or supplement thereto or (ii) in the case of an occurrence
of an event of the type specified in Section 3(d)(iii)-(vi), the use by such
Holder of an outdated or defective Prospectus after the Company has notified
such Holder in writing that the Prospectus is outdated or defective and prior to
the receipt by such Holder of the Advice contemplated in Section 6(d). In no
event shall the liability of any selling Holder hereunder be greater in amount
than the dollar amount of the net proceeds received by such Holder upon the sale
of the Registrable Securities giving rise to such indemnification
obligation.

    

    (c)           Conduct of Indemnification
Proceedings. If any Proceeding shall be brought or asserted against any
Person entitled to indemnity hereunder (an “Indemnified Party”),
such Indemnified Party shall promptly notify the Person from whom indemnity is
sought (the “Indemnifying Party”)
in writing, and the Indemnifying Party shall have the right to assume the
defense thereof, including the employment of counsel reasonably satisfactory to
the Indemnified Party and the payment of all fees and expenses incurred in
connection with defense thereof; provided, that, the failure of any Indemnified
Party to give such notice shall not relieve the Indemnifying Party of its
obligations or liabilities pursuant to this Agreement, except (and only) to the
extent that it shall be finally determined by a court of competent jurisdiction
(which determination is not subject to appeal or further review) that such
failure shall have prejudiced the Indemnifying Party.

    

    An Indemnified Party shall have the
right to employ separate counsel in any such Proceeding and to participate in
the defense thereof, but the fees and expenses of such counsel shall be at the
expense of such Indemnified Party or Parties unless:  (1) the
Indemnifying Party has agreed in writing to pay such fees and expenses, (2) the
Indemnifying Party shall have failed promptly to assume the defense of such
Proceeding and to employ counsel reasonably satisfactory to such Indemnified
Party in any such Proceeding, or (3) the named parties to any such Proceeding
(including any impleaded parties) include both such Indemnified Party and the
Indemnifying Party, and counsel to the Indemnified Party shall reasonably
believe that a material conflict of interest is likely to exist if the same
counsel were to represent such Indemnified Party and the Indemnifying Party (in
which case, if such Indemnified Party notifies the Indemnifying Party in writing
that it elects to employ separate counsel at the expense of the Indemnifying
Party, the Indemnifying Party shall not have the right to assume the defense
thereof and the reasonable fees and expenses of no more than one separate
counsel shall be at the expense of the Indemnifying Party).  The
Indemnifying Party shall not be liable for any settlement of any such Proceeding
effected without its written consent, which consent shall not be unreasonably
withheld or delayed.  No Indemnifying Party shall, without the prior
written consent of the Indemnified Party, effect any settlement of any pending
Proceeding in respect of which any Indemnified Party is a party, unless such
settlement includes an unconditional release of such Indemnified Party from all
liability on claims that are the subject matter of such
Proceeding.

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    

    Subject to the terms of this Agreement,
all reasonable fees and expenses of the Indemnified Party (including reasonable
fees and expenses to the extent incurred in connection with investigating or
preparing to defend such Proceeding in a manner not inconsistent with this
Section) shall be paid to the Indemnified Party, as incurred, within ten Trading
Days of written notice thereof to the Indemnifying Party; provided, that, the
Indemnified Party shall promptly reimburse the Indemnifying Party for that
portion of such fees and expenses applicable to such actions for which such
Indemnified Party is judicially determined not to be entitled to indemnification
hereunder.

    

    (d)           Contribution. If the
indemnification under Section 5(a) or 5(b) is unavailable to an Indemnified
Party or insufficient to hold an Indemnified Party harmless for any Losses, then
each Indemnifying Party shall contribute to the amount paid or payable by such
Indemnified Party, in such proportion as is appropriate to reflect the relative
fault of the Indemnifying Party and Indemnified Party in connection with the
actions, statements or omissions that resulted in such Losses as well as any
other relevant equitable considerations. The relative fault of such Indemnifying
Party and Indemnified Party shall be determined by reference to, among other
things, whether any action in question, including any untrue or alleged untrue
statement of a material fact or omission or alleged omission of a material fact,
has been taken or made by, or relates to information supplied by, such
Indemnifying Party or Indemnified Party, and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such
action, statement or omission.  The amount paid or payable by a party
as a result of any Losses shall be deemed to include, subject to the limitations
set forth in this Agreement, any reasonable attorneys’ or other fees or expenses
incurred by such party in connection with any Proceeding to the extent such
party would have been indemnified for such fees or expenses if the
indemnification provided for in this Section was available to such party in
accordance with its terms.

    

    The parties hereto agree that it would
not be just and equitable if contribution pursuant to this Section 5(d) were
determined by pro rata allocation or by any other method of allocation that does
not take into account the equitable considerations referred to in the
immediately preceding paragraph.  Notwithstanding the provisions of
this Section 5(d), no Holder shall be required to contribute, in the aggregate,
any amount in excess of the amount by which the net proceeds actually received
by such Holder from the sale of the Registrable Securities subject to the
Proceeding exceeds the amount of any damages that such Holder has otherwise been
required to pay by reason of such untrue or alleged untrue statement or omission
or alleged omission.

    

    The
indemnity and contribution agreements contained in this Section are in addition
to any liability that the Indemnifying Parties may have to the Indemnified
Parties.

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    6.           Miscellaneous.

    

    (a)           Remedies.  In
the event of a breach by the Company or by a Holder of any of their respective
obligations under this Agreement, each Holder or the Company, as the case may
be, in addition to being entitled to exercise all rights granted by law and
under this Agreement, including recovery of damages, shall be entitled to
specific performance of its rights under this Agreement.  The Company
and each Holder agree that monetary damages would not provide adequate
compensation for any losses incurred by reason of a breach by it of any of the
provisions of this Agreement and hereby further agrees that, in the event of any
action for specific performance in respect of such breach, it shall not assert
or shall waive the defense that a remedy at law would be adequate.

    

    (b)           No Piggyback on
Registrations; Prohibition on Filing Other Registration Statements.
Except as set forth on Schedule 6(b)
attached hereto, neither the Company nor any of its security holders (other than
the Holders in such capacity pursuant hereto) may include securities of the
Company in any Registration Statements other than the Registrable
Securities.  The Company shall not file any other registration
statements until all Registrable Securities are registered pursuant to a
Registration Statement that is declared effective by the Commission, provided
that this Section 6(b) shall not prohibit the Company from filing amendments to
registration statements filed prior to the date of this Agreement.

    

    (c)           Compliance. Each
Holder covenants and agrees that it will comply with the prospectus delivery
requirements of the Securities Act as applicable to it in connection with sales
of Registrable Securities pursuant to a Registration Statement.

    

    (d)           Discontinued
Disposition.  By its acquisition of Registrable Securities,
each Holder agrees that, upon receipt of a notice from the Company of the
occurrence of any event of the kind described in Section 3(d)(iii) through (vi),
such Holder will forthwith discontinue disposition of such Registrable
Securities under a Registration Statement until it is advised in writing (the
“Advice”) by
the Company that the use of the applicable Prospectus (as it may have been
supplemented or amended) may be resumed.  The Company will use its
reasonable best efforts to ensure that the use of the Prospectus may be resumed
as promptly as is practicable.

    

    (e)           Piggy-Back
Registrations. If, at any time during the Effectiveness Period, there is
not an effective Registration Statement covering all of the Registrable
Securities and the Company shall determine to prepare and file with the
Commission a registration statement relating to an offering for its own account
or the account of others under the Securities Act of any of its equity
securities, other than on Form S-4 or Form S-8 (each as promulgated under the
Securities Act) or their then equivalents relating to equity securities to be
issued solely in connection with any acquisition of any entity or business or
equity securities issuable in connection with the Company’s stock option or
other employee benefit plans, then the Company shall deliver to each Holder a
written notice of such determination and, if within fifteen days after the date
of the delivery of such notice, any such Holder shall so request in writing, the
Company shall include in such registration statement all or any part of such
Registrable Securities such Holder requests to be registered; provided, however, that the
Company shall not be required to register any Registrable Securities pursuant to
this Section 6(e) that are eligible for resale pursuant to Rule 144 promulgated
by the Commission pursuant to the Securities Act or that are the subject of a
then effective Registration Statement.

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    (f)           Amendments and
Waivers. The provisions of this Agreement, including the provisions of
this sentence, may not be amended, modified or supplemented, and waivers or
consents to departures from the provisions hereof may not be given, unless the
same shall be in writing and signed by the Company and the Holders of 60% or
more of the then outstanding Registrable Securities (including, for this purpose
any Registrable Securities issuable upon exercise or conversion of any
Security).  If a Registration Statement does not register all of the
Registrable Securities pursuant to a waiver or amendment done in compliance with
the previous sentence, then the number of Registrable Securities to be
registered for each Holder shall be reduced pro rata among all Holders and each
Holder shall have the right to designate which of its Registrable Securities
shall be omitted from such Registration Statement. Notwithstanding the
foregoing, a waiver or consent to depart from the provisions hereof with respect
to a matter that relates exclusively to the rights of a Holder or some Holders
and that does not directly or indirectly affect the rights of other Holders may
be given by such Holder or Holders of all of the Registrable Securities to which
such waiver or consent relates; provided, however, that the
provisions of this sentence may not be amended, modified, or supplemented except
in accordance with the provisions of the first  sentence of this
Section 6(f).

    

    (g)           Notices. Any and all
notices or other communications or deliveries required or permitted to be
provided hereunder shall be delivered as set forth in the Purchase
Agreement.

    

    (h)           Successors and
Assigns. This Agreement shall inure to the benefit of and be binding upon
the successors and permitted assigns of each of the parties and shall inure to
the benefit of each Holder. The Company may not assign (except by merger) its
rights or obligations hereunder without the prior written consent of the Holders
of 67% or more of the then outstanding Registrable Securities. Each Holder may
assign their respective rights hereunder in the manner and to the Persons as
permitted under the Purchase Agreement.

    

    (i)           No Inconsistent
Agreements. Neither the Company nor any of its Subsidiaries has entered,
as of the date hereof, nor shall the Company or any of its Subsidiaries, on or
after the date of this Agreement, enter into any agreement with respect to its
securities, that would have the effect of impairing the rights granted to the
Holders in this Agreement or otherwise conflicts with the provisions
hereof.  Except as set forth on Schedule 6(i),
neither the Company nor any of its Subsidiaries has previously entered into any
agreement granting any registration rights with respect to any of its securities
to any Person that have not been satisfied in full.

    

    (j)           Execution and
Counterparts. This Agreement may be executed in two or more counterparts,
all of which when taken together shall be considered one and the same agreement
and shall become effective when counterparts have been signed by each party and
delivered to the other party, it being understood that both parties need not
sign the same counterpart.  In the event that any signature is
delivered by facsimile transmission or by e-mail delivery of a “.pdf” format
data file, such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed) with the same
force and effect as if such facsimile or “.pdf” signature page were an original
thereof.

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    (k)           Governing
Law.  All questions concerning the construction, validity,
enforcement and interpretation of this Agreement shall be determined in
accordance with the provisions of the Purchase Agreement.

    

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

    

    (m)           Severability. If any
term, provision, covenant or restriction of this Agreement is held by a court of
competent jurisdiction to be invalid, illegal, void or unenforceable, the
remainder of the terms, provisions, covenants and restrictions set forth herein
shall remain in full force and effect and shall in no way be affected, impaired
or invalidated, and the parties hereto shall use their commercially reasonable
efforts to find and employ an alternative means to achieve the same or
substantially the same result as that contemplated by such term, provision,
covenant or restriction. It is hereby stipulated and declared to be the
intention of the parties that they would have executed the remaining terms,
provisions, covenants and restrictions without including any of such that may be
hereafter declared invalid, illegal, void or unenforceable.

    

    (n)           Headings. The
headings in this Agreement are for convenience only, do not constitute a part of
the Agreement and shall not be deemed to limit or affect any of the provisions
hereof.

    

    (o)           Independent Nature of
Holders’ Obligations and Rights. The obligations of each Holder hereunder
are several and not joint with the obligations of any other Holder hereunder,
and no Holder shall be responsible in any way for the performance of the
obligations of any other Holder hereunder. Nothing contained herein or in any
other agreement or document delivered at any closing, and no action taken by any
Holder pursuant hereto or thereto, shall be deemed to constitute the Holders as
a partnership, an association, a joint venture or any other kind of entity, or
create a presumption that the Holders are in any way acting in concert with
respect to such obligations or the transactions contemplated by this Agreement.
Each Holder shall be entitled to protect and enforce its rights, including
without limitation the rights arising out of this Agreement, and it shall not be
necessary for any other Holder to be joined as an additional party in any
proceeding for such purpose.

    

    ********************

     

    (Signature
Pages Follow)

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    

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

    

    
      
        
          	
                  CELSIA
      TECHNOLOGIES, INC.

                
	 
      	 
      
	
                  By:

                	
                  /s/
      Jorge Fernandez

                
	 
      	
                  Name:
      Jorge Fernandez

                
	 
      	
                  Title:
      CFO

                

        

      

    

    

    [SIGNATURE
PAGE OF HOLDERS FOLLOWS]

    
      
         

      

      
        15

        
          

        

      

      
         

      

    

    [SIGNATURE
PAGE OF HOLDERS TO CSAT RRA]

    

    Name of
Holder: __________________________

    

    Signature of Authorized Signatory of
Holder: __________________________

    

    Name of
Authorized Signatory: _________________________

    

    Title of
Authorized Signatory: __________________________

    

    [SIGNATURE
PAGES CONTINUE]

    
      
         

      

      
        16

        
          

        

      

      
         

      

    

    Annex A

    

    Plan of
Distribution

    

    Each
Selling Stockholder (the “Selling
Stockholders”) of the common stock and any of their pledgees, assignees
and successors-in-interest may, from time to time, sell any or all of their
shares of common stock on the OTC Bulletin Board or any other stock exchange,
market or trading facility on which the shares are traded or in private
transactions.  These sales may be at fixed or negotiated
prices.  A Selling Stockholder may use any one or more of the
following methods when selling shares:

     

    
      	
               
      

            	
              ·

            	
              ordinary
      brokerage transactions and transactions in which the broker-dealer
      solicits purchasers;

            

    

     

    
      	
               
      

            	
              ·

            	
              block
      trades in which the broker-dealer will attempt to sell the shares as agent
      but may position and resell a portion of the block as principal to
      facilitate the transaction;

            

    

     

    
      	
               
      

            	
              ·

            	
              purchases
      by a broker-dealer as principal and resale by the broker-dealer for its
      account;

            

    

     

    
      	
               
      

            	
              ·

            	
              an
      exchange distribution in accordance with the rules of the applicable
      exchange;

            

    

     

    
      	
               
      

            	
              ·

            	
              privately
      negotiated transactions;

            

    

     

    
      	
               
      

            	
              ·

            	
              settlement
      of short sales entered into after the effective date of the registration
      statement of which this prospectus is a
part;

            

    

     

    
      	
               
      

            	
              ·

            	
              broker-dealers
      may agree with the Selling Stockholders to sell a specified number of such
      shares at a stipulated price per
share;

            

    

     

    
      	
               
      

            	
              ·

            	
              through
      the writing or settlement of options or other hedging transactions,
      whether through an options exchange or
  otherwise;

            

    

     

    
      	
               
      

            	
              ·

            	
              a
      combination of any such methods of sale;
or

            

    

     

    
      	
               
      

            	
              ·

            	
              any
      other method permitted pursuant to applicable
  law.

            

    

     

    The
Selling Stockholders may also sell shares under Rule 144 under the Securities
Act of 1933, as amended (the “Securities Act”), if
available, rather than under this prospectus.

     

    Broker-dealers
engaged by the Selling Stockholders may arrange for other brokers-dealers to
participate in sales.  Broker-dealers may receive commissions or
discounts from the Selling Stockholders (or, if any broker-dealer acts as agent
for the purchaser of shares, from the purchaser) in amounts to be negotiated,
but, except as set forth in a supplement to this Prospectus, in the case of an
agency transaction not in excess of a customary brokerage commission in
compliance with FINRA NASD Rule 2440; and in the case of a principal transaction
a markup or markdown in compliance with NASD IM-2440.

    
      
         

      

      
        17

        
          

        

      

      
         

      

    

    In
connection with the sale of the common stock or interests therein, the Selling
Stockholders may enter into hedging transactions with broker-dealers or other
financial institutions, which may in turn engage in short sales of the common
stock in the course of hedging the positions they assume.  The Selling
Stockholders may also sell shares of the common stock short and deliver these
securities to close out their short positions, or loan or pledge the common
stock to broker-dealers that in turn may sell these securities.  The
Selling Stockholders may also enter into option or other transactions with
broker-dealers or other financial institutions or the creation of one or more
derivative securities which require the delivery to such broker-dealer or other
financial institution of shares offered by this prospectus, which shares such
broker-dealer or other financial institution may resell pursuant to this
prospectus (as supplemented or amended to reflect such
transaction).

     

    The
Selling Stockholders and any broker-dealers or agents that are involved in
selling the shares may be deemed to be “underwriters” within the meaning of the
Securities Act in connection with such sales.  In such event, any
commissions received by such broker-dealers or agents and any profit on the
resale of the shares purchased by them may be deemed to be underwriting
commissions or discounts under the Securities Act.  Each Selling
Stockholder has informed the Company that it does not have any written or oral
agreement or understanding, directly or indirectly, with any person to
distribute the Common Stock. In no event shall any broker-dealer receive fees,
commissions and markups which, in the aggregate, would exceed eight percent
(8%).

     

    The
Company is required to pay certain fees and expenses incurred by the Company
incident to the registration of the shares.  The Company has agreed to
indemnify the Selling Stockholders against certain losses, claims, damages and
liabilities, including liabilities under the Securities Act.

     

    Because
Selling Stockholders may be deemed to be “underwriters” within the meaning of
the Securities Act, they will be subject to the prospectus delivery requirements
of the Securities Act including Rule 172 thereunder.  In addition, any
securities covered by this prospectus which qualify for sale pursuant to Rule
144 under the Securities Act may be sold under Rule 144 rather than under this
prospectus.  There is no underwriter or coordinating broker acting in
connection with the proposed sale of the resale shares by the Selling
Stockholders.

     

    We agreed
to keep this prospectus effective until the earlier of (i) the date on which the
shares may be resold by the Selling Stockholders without registration and
without regard to any volume or manner-of-sale limitations by reason of Rule
144, without the requirement for the Company to be in compliance with the
current public information under Rule 144 under the Securities Act or any other
rule of similar effect or (ii) all of the shares have been sold pursuant to this
prospectus or Rule 144 under the Securities Act or any other rule of similar
effect.  The resale shares will be sold only through registered or
licensed brokers or dealers if required under applicable state securities laws.
In addition, in certain states, the resale shares may not be sold unless they
have been registered or qualified for sale in the applicable state or an
exemption from the registration or qualification requirement is available and is
complied with.

    
      
         

      

      
        18

        
          

        

      

      
         

      

    

    Under
applicable rules and regulations under the Exchange Act, any person engaged in
the distribution of the resale shares may not simultaneously engage in market
making activities with respect to the common stock for the applicable restricted
period, as defined in Regulation M, prior to the commencement of the
distribution.  In addition, the Selling Stockholders will be subject
to applicable provisions of the Exchange Act and the rules and regulations
thereunder, including Regulation M, which may limit the timing of purchases and
sales of shares of the common stock by the Selling Stockholders or any other
person.  We will make copies of this prospectus available to the
Selling Stockholders and have informed them of the need to deliver a copy of
this prospectus to each purchaser at or prior to the time of the sale (including
by compliance with Rule 172 under the Securities Act).

    
      
         

      

      
        19

        
          

        

      

      
         

      

    

    Annex
B

     

    CELSIA
TECHNOLOGIES, INC.

     

    Selling
Stockholder Notice and Questionnaire

     

    The
undersigned beneficial owner of common stock (the “Registrable
Securities”) of Celsia Technologies, Inc., a Nevada corporation (the
“Company”),
understands that the Company has filed or intends to file with the Securities
and Exchange Commission (the “Commission”) a
registration statement (the “Registration
Statement”) for the registration and resale under Rule 415 of the
Securities Act of 1933, as amended (the “Securities Act”), of
the Registrable Securities, in accordance with the terms of the Registration
Rights Agreement (the “Registration Rights
Agreement”) to which this document is annexed.  A copy of the
Registration Rights Agreement is available from the Company upon request at the
address set forth below.  All capitalized terms not otherwise defined
herein shall have the meanings ascribed thereto in the Registration Rights
Agreement.

     

    Certain
legal consequences arise from being named as a selling stockholder in the
Registration Statement and the related prospectus.  Accordingly,
holders and beneficial owners of Registrable Securities are advised to consult
their own securities law counsel regarding the consequences of being named or
not being named as a selling stockholder in the Registration Statement and the
related prospectus.

     

    NOTICE

     

    The
undersigned beneficial owner (the “Selling Stockholder”)
of Registrable Securities hereby elects to include the Registrable Securities
owned by it in the Registration Statement.

    
      
         

      

      
        20

        
          

        

      

      
         

      

    

    The
undersigned hereby provides the following information to the Company and
represents and warrants that such information is accurate:

     

    QUESTIONNAIRE

     

    
      	
              1.

            	
              Name.

            

    

     

    
      
        	
                 
      

              	
                (a)

              	
                Full
      Legal Name of Selling Stockholder

              
	 	 	 

      

    

    

    
      
        	
                 
      

              	
                (b)

              	
                Full
      Legal Name of Registered Holder (if not the same as (a) above) through
      which Registrable Securities are held:

              
	 	 	 

      

    

    

    
      
        	
                 
      

              	
                (c)

              	
                Full
      Legal Name of Natural Control Person (which means a natural person who
      directly or indirectly alone or with others has power to vote or dispose
      of the securities covered by this Questionnaire):

              
	 	 	 

      

    

    

    
      
        	
                2.

              	
                Address
      for Notices to Selling
Stockholder:

              

      

    

     

    
      
        
          
            
              
                
                  
                    
                      
                        	 
      	 
      
	 
      	 
      
	 
      	 
      
	 	 
	 	 
	
                                Telephone:

                              	 
      
	
                                Fax:

                              	 
      
	
                                Contact
      Person:

                              	 
      

                      

                    

                  

                

              

            

          

        

      

    

    

    
      
        	
                3. 

              	
                 Broker-Dealer
      Status:

              

      

    

     

    
      	
               
      

            	
              (a)

            	
              Are
      you a broker-dealer?

            

    

     

    Yes  ̈ No
 ̈

     

    
      	
               
      

            	
              (b)

            	
              If
      “yes” to Section 3(a), did you receive your Registrable Securities as
      compensation for investment banking services to the
    Company?

            

    

     

    Yes  ̈ No  ̈

     

    
      	
            	
              Note:

            	
              If
      “no” to Section 3(b), the Commission’s staff has indicated that you should
      be identified as an underwriter in the Registration
    Statement.

            

    

     

    
      
         

      

      
        21

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              (c)

            	
              Are
      you an affiliate of a
broker-dealer?

            

    

     

    Yes  ̈ No  ̈

     

    
      	
               
      

            	
              (d)

            	
              If
      you are an affiliate of a broker-dealer, do you certify that you purchased
      the Registrable Securities in the ordinary course of business, and at the
      time of the purchase of the Registrable Securities to be resold, you had
      no agreements or understandings, directly or indirectly, with any person
      to distribute the Registrable
Securities?

            

    

     

    Yes  ̈ No
 ̈

     

    
      	
            	
              Note:

            	
              If
      “no” to Section 3(d), the Commission’s staff has indicated that you should
      be identified as an underwriter in the Registration
    Statement.

            

    

     

    
      
        	
                4. 

              	
                 Beneficial
      Ownership of Securities of the Company Owned by the Selling
      Stockholder.

              

      

    

     

    Except
as set forth below in this Item 4, the undersigned is not the beneficial or
registered owner of any securities of the Company other than the securities
issuable pursuant to the Purchase Agreement.

     

    
      
        	
                 
      

              	
                (a)

              	
                Type
      and Amount of other securities beneficially owned by the Selling
      Stockholder:

              
	 	 	 
	 	 	 

      

    

     

    
      
         

      

      
        22

        
          

        

      

      
         

      

    

    
      
        	
                5. 

              	
                 Relationships
      with the Company:

              

      

    

     

    Except
as set forth below, neither the undersigned nor any of its affiliates, officers,
directors or principal equity holders (owners of 5% of more of the equity
securities of the undersigned) has held any position or office or has had any
other material relationship with the Company (or its predecessors or affiliates)
during the past three years.

     

    
      
        
          
            
              
                
                  
                    
                      
                        	 	

                                State
      any exceptions here:

                              
	 	 
	 	 

                      

                    

                  

                

              

            

          

        

      

    

     

    The
undersigned agrees to promptly notify the Company of any inaccuracies or changes
in the information provided herein that may occur subsequent to the date hereof
at any time while the Registration Statement remains effective.

     

    By
signing below, the undersigned consents to the disclosure of the information
contained herein in its answers to Items 1 through 5 and the inclusion of such
information in the Registration Statement and the related prospectus and any amendments or supplements
thereto.  The undersigned understands that such information
will be relied upon by the Company in connection with the preparation or
amendment of the Registration Statement and the related prospectus.

     

    IN
WITNESS WHEREOF the undersigned, by authority duly given, has caused this Notice
and Questionnaire to be executed and delivered either in person or by its duly
authorized agent.

     

    
      
        
          
            	
                    Date:
      _______________________________

                  	
                    Beneficial
      Owner: ___________________________________

                  
	 
      	 
      	 
      
	 
      	
                    By:

                  	 
      
	 
      	 
      	
                    Name:

                  
	 
      	 
      	
                    Title:

                  

          

        

      

    

    

    PLEASE
FAX A COPY OF THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE, AND RETURN
THE ORIGINAL BY OVERNIGHT MAIL, TO:

    
      
         

      

      
        23Unassociated Document

    Exhibit 10.9

    

    DATED
JANUARY 21, 2009

    

    TRUST
AGREEMENT

    

    Among

     

    CELSIA
TECHNOLOGIES, INC.

     

    CELSIA
TECHNOLOGIES TAIWAN, INC.

     

    and

     

    CHINATRUST
COMMERCIAL BANK, LTD., as
Trustee

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    TRUST
AGREEMENT

     

    THIS
TRUST AGREEMENT, dated as of January 21, 2009 (this “Agreement”), is entered into
by and among

     

    
      	
              (1)

            	
              Celsia
      Technologies, Inc., a corporation organized and existing under the laws of
      the State of Nevada, U.S.A. (“Celsia USA”), and its
      wholly owned subsidiary, Celsia Technologies Taiwan, Inc. a corporation
      organized and existing under the laws of the Republic of China (“ROC”), with its
      registered office at No. 2, Heding Road, Jhongli City, Taoyuan County 320,
      Taiwan, ROC (“Celsia
      Taiwan“) (Celsia USA and Celsia Taiwan together with their
      successors and permitted assigns, the “Settlors“);
      and

            

    

     

    
      	
              (2)

            	
              Chinatrust
      Commercial Bank, Ltd., a
      banking corporation organized and existing under the laws of the ROC
      authorized to conduct trust business and with its registered office at No. 3, Sung Shou
      Road, Taipei 110, Taiwan,
      ROC as the trustee under this Agreement (in such capacity, together
      with its successors in such capacity and as further defined below, the
      “Trustee”).

            

    

     

    The
Settlors and the Trustee are hereinafter collectively referred to as the
"Parties."

     

    WITNESSETH:

     

    WHEREAS,
the Settlors desire to engage the Trustee
to hold the title and interest in the Trust Assets for the Beneficiaries to
secure Celsia USA’s performance of the Contractual Obligations pursuant to this
Agreement during the Trust Period; and

     

    WHEREAS,
the Settlors and the Trustee desire to enter into this Agreement to provide,
among other things, for the Settlors’ appointment of the Trustee and the
respective rights and obligations of the Trustee and the
Settlors/Beneficiaries.

     

    NOW
THEREFORE, in consideration of the covenants and agreements contained herein,
and for good and valuable consideration, the receipt and sufficiency of which
the Parties hereby acknowledge, the Parties hereby agree as
follows:

     

    ARTICLE
1

     

    DEFINED
TERMS AND PRINCIPLES OF CONSTRUCTION

     

    
      	
              1.1

            	
              As
      used herein, the following terms shall have the following
      meanings:

            

    

     

    “Beneficiary” means each of the
Settlors in its capacity as a beneficiary to the respective assets it entrusted
under this Agreement.

     

    “Business Day” means any day
other than a Saturday, Sunday or other day on which commercial banks are
authorized or required to close in the ROC.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    “Cash Distributions” means
rights, dividends, distributions, interest or moneys in relation to the Escrow
Shares paid or made in cash to and received by the Trustee during the term of
this Agreement.

     

    “Celsia Debentures“ means the
convertible debentures issued by Celsia USA, which will mature on 31 December
2010.

     

    “Collateral Agent” means
Midsummer Ventures, L.P., a limited partnership organized and existing under the
laws of Bermuda, acting on behalf of and for the benefits of the Creditors under
Celsia Debentures.

     

    “Contractual Obligations” means
any and all obligations of Celsia USA to the Creditors arising under Celsia
Debentures.

     

    “Creditors“ means the holders
of the Celsia Debentures listed in Appendix
A.

     

    “Distributions” means rights,
dividends, distributions, interest or other moneys or assets accruing on or in
respect of the Trust Assets or any part thereof, including Cash
Distributions.

     

    “Distributions Notice” has the
meaning given in Article 5.1.1.

     

    “Escrow Shares” means 499,999
shares of common stock of Celsia Taiwan, which are entrusted and transferred on
the date of this Agreement by Celsia USA to the Trustee together with all
related rights, interests, certificates and other documents.  The
Escrow Shares include shares, stocks and other securities (if any) derived from
the Escrow Shares.

     

    “Event of Default“ means any
and all events of default under Celsia Debentures.

     

    “Equipment” means the chattels
listed in Appendix
B, which are entrusted on and after the date of this Agreement by Celsia
Taiwan to the Trustee, but administered and manipulated at Celsia Taiwan's
command.

     

    “Fees and Expenses” has the
meaning given in Article 6.1.

     

    “Governmental Authority” means
the government of any nation, state, city, locality, prefecture, region or other
political subdivision thereof or any entity exercising executive, legislative,
judicial, regulatory or administrative functions of or pertaining to
government.

     

    “Instruction” has the meaning
given in Article 3.3.1.

     

    “Lien” means any mortgage, deed
of trust, pledge, hypothecation, assignment, security interest, encumbrance,
lien (statutory or other), lease, charge, deposit arrangement or preference,
priority, right or other security agreement or preferential arrangement of any
kind or nature whatsoever (including the interest of a vendor or lessor under
any conditional sale agreement, capital lease or other title retention
agreement).

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    “Party” means a party to this Agreement.

     

    “Person” means any individual,
firm, corporation, partnership, trust, incorporated or unincorporated
association, joint venture, joint stock company, limited liability company,
Governmental Authority or other entity of any kind, and shall include any
successor (by merger or otherwise) of such entity.

     

    “Trust Assets” means the Escrow
Shares, the Distributions and the Equipment entrusted by the Settlors and
received by the Trustee.

     

    “Trust Period” means the period
from the date of receipt of any Trust Assets by the Trustee until the earlier of
(i) the date all of the Trust Assets have been paid or transferred to the
Creditors and/or distributed to the Beneficiaries in accordance with this
Agreement or (ii) three (3) years after the date the Trustee receives any Trust
Assets.

     

    “Trustee’s Fee” means the fee
payable to the Trustee for its appointment as the trustee and performance of its
services under this Agreement as provided in Article 6.2.

     

    
      	
              1.2

            	
              The
      words “hereof”,
      “herein” and
      “hereunder” and
      words of similar import when used in this Agreement shall refer to this
      Agreement as a whole and not to any particular provision of this
      Agreement.  Article references contained in this Agreement are
      references to Articles of this Agreement, unless otherwise
      specified.  The words “includes” and “including” when used in
      this Agreement shall be deemed, in each instance in which they appear, to
      be followed by the words “without
      limitation”.

            

    

     

    
      	
              1.3

            	
              A
      reference to a statute or statutory provision includes, to the extent
      applicable at any relevant time:

            

    

     

    
      	
               
      

            	
              (a)that
      statute or statutory provision as from time to time consolidated,
      modified, re-enacted or replaced by any other statute or statutory
      provision;

            

    

     

    
      	
               
      

            	
              (b)any
      repealed statute or statutory provision which it re-enacts (with or
      without modification); and

            

    

     

    
      	
               
      

            	
              (c)any
      subordinate legislation or regulation made under the relevant statute or
      statutory provision.

            

    

     

    
      	
              1.4

            	
              The
      provisions of this Agreement shall bind the Trustee, the Settlors and
      Beneficiaries under the trusts created by this
  Agreement.

            

    

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    ARTICLE
2

     

    PURPOSE,
TRUST ASSETS AND BENEFICIARY

     

    
      
        2.1            Purpose and Trust
Assets

      

    

     

    2.1.1         The
Settlors hereby appoint the Trustee as trustee of the trust to be constituted
under this Agreement and each of the Settlors shall, on the date the Parties
sign this Agreement, irrevocably and unconditionally entrusts to the Trustee its
rights and entitlements to the Escrow Shares and the Equipment respectively
under and in accordance with the terms of this Agreement.

     

    2.1.2         The
trust constituted by this Agreement is established for the purposes of securing
the performance by Celsia USA of its Contractual Obligations to the Creditors
under the Celsia Debentures.

     

    2.1.3         (a)
Each of the Settlors/Beneficiaries agrees and acknowledges that the Trust Assets
are subject to this Agreement and accordingly its rights and interests will be
exercised and enjoyed by the Trustee in accordance with this Agreement; and (b)
Celsia USA agrees and acknowledges the Distributions will be entrusted to the
Trustee as well and become part of the Trust Assets.

     

    2.1.4         The
Trustee shall administer the Trust Assets in accordance with this Agreement and
applicable laws.

     

    2.1.5         The
Settlors/Beneficiaries agree that, in connection with this Agreement, the
Trustee shall establish, in the Trustee’s name, one deposit trust account with
Chinatrust Commercial Bank, Ltd. and one securities trust account with
Chinatrust Securities Company Ltd. respectively, and shall hold all the Trust
Assets in cash form in such deposit trust account and/or all the Trust Assets in
the form of entry-book stocks in the securities trust account or physical stocks
in the safe deposit.

     

    2.1.6         Unless
otherwise provided in this Agreement, any property, rights or interests (except
for the Cash Distributions) obtained by or under the control of the Trustee as a
result of the Trustee’s appointment hereunder or administration or disposal of
any Trust Assets or part thereof, or due to the damage or loss or otherwise of
the Trust Assets shall be deemed included in and constitute part of the Trust
Assets and shall be held in the trust under this Agreement.

     

    
      2.2           
Beneficiary

    

     

    2.2.1         The
Settlors shall be the Beneficiaries with respect to their respective assets
entrusted and to the extent so entitled under this Agreement.

     

    2.2.2         The
Settlors/Beneficiaries shall not (a) nominate, appoint or designate any other
Person to substitute for it or be its beneficiary under this Agreement, except
by operation of law; or (b) sell, transfer, assign, encumber with a Lien or
otherwise dispose of any of its rights or interests to the Trust Assets or
otherwise as a Beneficiary under this Agreement, except by operation of
law.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    2.2.3          The
Settlors do not reserve the rights to change the Beneficiaries of this
Agreement.

     

    ARTICLE
3

     

    ADMINISTRATION
OF TRUST ASSETS

     

    
      3.1           
Required Registration,
Endorsement and Notice

    

     

    The
Settlors shall, from time to time as required and as promptly as practicable,
assist the Trustee with the completion of all relevant registrations,
endorsements and notices as required or permitted by applicable laws for
acquiring the Trust Assets and holding the Trust Assets in accordance with the
provisions of this Agreement and applicable laws.

     

    
      3.2            
Separate
Administration

    

     

    3.2.1          The
Trust Assets shall be identified and administered by the Trustee separately and
distinctly from the Trustee’s own assets and other assets entrusted to the
Trustee.

     

    3.2.2          The
Parties agree that Equipment shall be maintained, kept and preserved by Celsia
Taiwan.

     

    
      3.3           
Instructions and
Formality

    

     

    3.3.1          Any
instruction, decision, consent or notice (“Instruction“) given from the
Settlors with respect to this Agreement shall bear at least one of the specimen
signatures set forth in Appendix
C.

     

    3.3.2          Whenever
the Trustee deems necessary, the Settlors shall, within three (3) Business Days
of the Trustee’s written request, clarify or confirm any Instruction issued to
the Trustee.  In the event that the Trustee, in its reasonable
discretion, determines that any Instruction or part thereof is illegal, the
Trustee shall, to the extent permitted by the laws, immediately notify the
Settlors of the same in writing and may suspend any action required by the
Instruction until such time as confirmation from a legal counsel can be obtained
as to whether or not the Instruction is illegal.  The Trustee shall
not be liable for any damage or loss suffered by the Trust Assets resulting from
the Trustee’s refusal to act in accordance with any illegal Instruction or from
Trustee’s suspension of act in accordance with this Agreement.

     

    
      3.4           
Administration of the Trust
Assets

    

     

    3.4.1          During
the term of this Agreement, the Equipment shall be administered and manipulated
at Celsia Taiwan's command.  The Trustee shall not have any duties or
responsibilities to Celsia Taiwan and the Creditors for any damage, robbery and
loss of the Equipment.  Each month, Celsia Taiwan shall provide a list
of the Equipment to the Trustee.  Celsia Taiwan agrees that the
responsibility of the Trustee to administrate the Equipment is only to keep the
list of the Equipment provided by Celsia Taiwan.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    3.4.2         
During the term of this Agreement, the Trustee shall act in good faith, with due
care and in accordance with Article 22 of the Trust Act of the ROC with respect
to the administration of the Trust Assets and related matters as provided for in
this Agreement.  In the event that maintenance of the Trust Assets or
performance of the Trustee’s obligations pursuant to this Agreement become
illegal, invalid or unenforceable, the Trustee shall promptly notify the
Settlors and the Collateral Agent in writing.  The Trustee may obtain
an advice from a legal counsel in order to confirm the legality of the
Instructions.  After obtaining a positive confirmation, the Trustee
shall promptly implement the Instruction. If the legal advice is reasonably
required and the Trustee so requests, the Settlors shall be responsible for the
payment of the legal counsel’s reasonable fees and disbursements.  If
the Settlors fail to do so within a reasonable time, the legal counsel’s fees
and disbursements shall be payable from the Trust Assets as provided in Articles
5.1.2 and 6.1

     

    3.4.3          The
Trustee shall not make any Lien on the Trust Assets during the term of this
Agreement.

     

    3.4.4          The
Trustee shall not, unless required by applicable laws, pursuant to this
Agreement or pursuant to any lawful and permitted Instruction, take any action
that may adversely affect the value of the Trust Assets.  In the event
that the Trustee is required by applicable laws or otherwise to take any action
that may adversely affect the value of the Trust Assets, the Trustee shall
promptly provide the Settlors and the Collateral Agent with a written notice
prior to taking any such action and shall seek the Instruction from the
Settlors.

     

    3.4.5          The
Trustee shall not be responsible for any loss or damage incurred due to (i) acts
taken by the Trustee in accordance with any Instruction or (ii) the omission or
delay of any Instruction from the Settlors unless attributable to the gross
negligence or willful misconduct of the Trustee.

     

    3.4.6          The
Trustee shall provide the Settlors and the Collateral Agent a trust report that
sets forth details of the administration and/or the performance of the Trust
Assets each half year.  During the term of this Agreement, the
Settlors and the Collateral Agent, each at it’s own expense, may, from time to
time by giving a ten (10) Business Days prior written notice, review, copy or
make extracts from the books and accounts of the Trust Assets during normal
business hours of the Trustee.

     

    3.4.7          Within
seven (7) Business Days of receiving any notice, documentation or information
regarding the Trust Assets, the Trustee shall forward the same or copies of the
same to the Settlors and the Collateral Agent.

     

    3.4.8          The
Trustee and the Settlors/ Beneficiaries shall not:

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              (a)

            	
              make
      loans to or borrow from the Trust Assets or incur or permit the incurrence
      of any Lien or other encumbrance over any of the Trust
    Assets;

            

    

     

    
      	
               
      

            	
              (b)

            	
              make
      loans to third parties, whether or not for the benefit of any Beneficiary,
      using the Trust Assets;

            

    

     

    
      	
               
      

            	
              (c)

            	
              take
      or fail to take any action that may violate this Agreement or applicable
      laws or be contrary to the interests of the Beneficiaries;
    or

            

    

     

    
      	
               
      

            	
              (d)

            	
              sell,
      transfer, assign or otherwise dispose of any of the Trust Assets unless
      otherwise permitted under this Agreement and applicable
    laws.

            

    

     

    3.4.9          The
Trustee shall, without additional fees or charges to the Settlors, remit the
Cash Distributions to the bank account of Celsia USA set forth in Appendix
D within five (5) business days of receipt of the same.

     

    3.4.10        The
Trustee shall appoint a representative agreed by Celsia USA to attend all
shareholders’ meetings of Celsia Taiwan to vote on all matters at such meetings
in accordance with the Company Act of the ROC and any applicable
laws.  Celsia USA shall provide the Instructions to the Trustee
regarding its decision to the agenda of the shareholders
meeting.  During said meetings, the representative shall act in
accordance with instructions of Celsia USA only; provided that such instructions
do not violate any provision of this Agreement or applicable laws.

     

    ARTICLE
4

     

    LIABILITIES
AND IMMUNITIES OF THE TRUSTEE

     

    
      4.1           
Liabilities of the
Trustee

    

     

    4.1.1          Unless
otherwise provided for in this Agreement, the Trustee and its directors and
officers in charge shall be jointly and severally liable to the Beneficiaries
for any damage or loss of the Trust Assets or any part thereof resulting from
their breach of the provisions of this Agreement or for any breach of Article 35
of the Trust Enterprise Law of the ROC.  Further, if any profits or
benefits are acquired by the Trustee as a result of the Trustee’s breach hereof,
such profits or benefits shall be deemed part of the Trust Assets.

     

    4.1.2          The
Trustee shall be liable for damages or losses suffered by the Beneficiaries or
to the Trust Assets as a result of the Trustee’s failure to exercise due care
and good faith in properly selecting, and supervising any agents
attorneys-in-fact, or experts selected and employed by it unless such agents,
attorneys, or experts are jointly selected and instructed by the Trustee and the
Settlors.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    
      4.2            
Immunities

    

     

    4.2.1          The
Trustee shall not have any duties or responsibilities to the Beneficiaries
except those expressly set forth in this Agreement or those duties and fiduciary
obligations to the Beneficiaries as provided by applicable laws.

     

    4.2.2          No
damage or loss suffered by the Beneficiaries or the Trust Assets resulting from
any event of force majeure, change of law or regulation, government act or other
event not imputed to the Trustee shall be borne by the Trustee.

     

    4.2.3          Except
for the Trustee’s acts of gross negligence or willful misconduct or as otherwise
provided in this Agreement, the Trustee shall not be responsible for any act or
omission required by any Instruction.

     

    4.2.4          Unless
and until all expenses or fees incurred by the Trustee in connection with this
Agreement have been reimbursed or reasonable arrangements for payment or
reimbursement are made, the Trustee shall refrain from taking any action which
may incur any expenses or fees and shall not be liable for the result
thereof.

     

    
      4.3           
Reliance by the
Trustee

    

     

    The
Trustee shall be entitled to rely upon any Instruction, certificate, notice or
other document (including any telegram or telecopy) duly signed by the Settlors
which is reasonably believed by the Trustee to be genuine.

     

    ARTICLE
5

     

    DISPOSAL,
RETURN AND DISTRIBUTION OF TRUST ASSETS

     

    
      5.1           
Disposal and Return of Trust
Assets in Early Termination

    

     

    5.1.1          Within
three (3) Business Days after the termination of this Agreement pursuant to
Article 7.2 (c) of this Agreement, the Collateral Agent may issue and deliver to
the Trustee an instruction bearing the specimen signature set forth in Appendix
E (the “Distribution
Notice“), with a copy to each of the Settlors, which shall
specify:

     

    
      	
               
      

            	
              (a)

            	
              the
      buyer designated by the Collateral
Agent;

            

    

     

    
      	
               
      

            	
              (b)

            	
              the
      number and selling price of the existing Equipment required to be sold to
      (i) fund payments due to the Creditors under the Contractual Obligations
      and (ii) pay the Fees and Expenses (as defined below in Article 6.1) to
      the Trustee;

            

    

     

    
      	
               
      

            	
              (c)

            	
              the
      number and selling price of the Escrow Shares and the Distributions
      required to be sold to (i) fund payments due to the Creditors under the
      Contractual Obligations and (ii) pay the Fees and Expenses to the Trustee;
      and

            

    

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              (d)

            	
              the
      number and selling price of the Trust Assets other than the Escrow Shares,
      the Distributions, and the existing Equipments required to be sold to (i)
      fund payments due to the Creditors under the Contractual Obligations and
      (ii) pay the Fees and Expenses to the
Trustee.

            

    

     

    
      	
               
      

            	
              (e)

            	
              Payments
      should be made directly to the Creditors pro-rata (based on their
      debentures), pursuant to the instructions provided by the Collateral
      Agent.

            

    

     

    On the
termination of this Agreement, Celsia Taiwan shall provide a list of the
existing Equipment and a description of the Equipment’s conditions to the
Trustee.  The Trustee shall sell the Trust Assets in accordance with
the Distribution Notice.  Celia Taiwan covenants that it will
cooperate with the Trustee for the sale or transfer of the
Equipment.

     

    5.1.2        Within
five (5) Business Days of the completion of the sale (if any) of the Escrow
Shares, the Distribution, the Equipment and other Trust Assets to fund the cash
payments referred to in and in accordance with this Article 5.1.1, the Trustee
shall use the proceeds from the sale to (a) firstly pay the Fees and Expenses
incurred in accordance with this Agreement, (b) secondly, pay the specific
amounts specified in the Distribution Notice to the Creditors, and (c) thirdly,
distribute the remaining amounts and the Trust Assets to the Beneficiaries. Both
Settlors agree that Trustee’s distribution to the Collateral Agent would be
deemed to return that part of the Trust Assets to the Settlors.

     

    
      5.2           
Designated
Accounts

    

     

    For the
purpose of administrating the Distribution in accordance with this Agreement,
each of the Beneficiaries shall otherwise designate its bank and/or securities
accounts by giving written notices of the details of such accounts to the
Trustee upon signing of this Agreement.

     

    ARTICLE
6

     

    EXPENSES
AND REMUNERATION

     

    
      	
              6.1

            	
              The
      Settlors agree that the Trustee’s Fee and all disbursements, costs and
      expenses reasonably incurred by the Trustee in accordance with this
      Agreement, including those set forth in Article 6.2 (collectively, “Fees and Expenses”),
      shall be borne by the Settlors, and shall be deducted directly from the
      Trust Assets if the Settlors have not otherwise made the
      payment.  Before the termination or expiration of this
      Agreement, if the Trustee deducts any Fees and Expenses from Trust Assets,
      the Settlors shall immediately make up any such deducted Trust
      Assets.

            

    

     

    
      	
              6.2

            	
              The
      Trustee’s Fee shall be calculated as follows: NTD 300,000 for the first
      contractual year from the date hereof, to be paid upon the execution of
      this Agreement, and 0.5% of the book value of the Trust Assets or NTD
      300,000 (whichever is higher) for each
      contractual year beginning from the expiration of the first contractual
      year.

            

    

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    
      	
              6.3

            	
              The
      Settlors shall indemnify any of the Creditors for the full amount of any
      taxes paid or payable by such Creditor incurring in relation to the
      receipt of any of the Trust Assets or any cost, loss or liability
      (including penalties, interest and expenses) arising therefrom or with
      respect thereto.  Such indemnification shall be made within five
      (5) days from the date the Creditor makes written demand (which demand
      shall be in reasonable detail and include a certificate from the Creditor
      as applicable evidencing the amount due
  therefor).

            

    

     

    ARTICLE
7

     

    
      TERM
AND TERMINATION

    

    
      
      

    

     

    7.1           Term

     

    Unless
earlier terminated in accordance with this Agreement or any applicable laws or
regulations of the ROC, this Agreement is a continuing agreement, and shall
remain in full force and effect in all respects until the expiry of the Trust
Period.

     

    7.2           Early
Termination

     

    This
Agreement shall be terminated upon the occurrence of any one of the following
events:

     

    
      	
               
      

            	
              (a)

            	
              pursuant
      to an order of a Governmental Authority or a final judgment of a court
      with competent jurisdiction;

            

    

     

    
      	
               
      

            	
              (b)

            	
              the
      Trustee’s written notification to the Settlors of their failure to cure
      their breach of this Agreement (if curable) within five (5) Business Days
      from their receipt of a written notice of curing the breach from the
      Trustee; or

            

    

     

    
      	
               
      

            	
              (c)

            	
              the
      Trustee’s receipt of an written notice from the Collateral Agent bearing
      the specimen signature set forth in Appendix
      E, with a copy given by the Collateral Agent to each of the
      Settlors, indicating that an Event of Default
  happened.

            

    

     

    7.3           Consequence of Expiry or
Termination

     

    Unless
otherwise agreed in writing by the Parties or provided in this Agreement (e.g.
Article 5.1), in the event of expiry or termination of this Agreement, the
Trustee shall,

     

    
      	
               
      

            	
              (a)

            	
              firstly,
      should there be any payable Fees and Expenses that remain unpaid by the
      Settlors, sell the Trust Assets to the extent of an amount in cash no less
      than the Fees and Expenses to the Trustee and then deduct and/or pay all
      amounts of Fees and Expenses; and

            

    

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              (b)

            	
              secondly,
      return and distribute the remaining Trust Assets (if any) to the
      Beneficiaries respectively.

            

    

     

    ARTICLE
8

    MISCELLANEOUS

     

    
      	
              8.1 

            	
              Confidentiality

            

    

     

    The
Trustee shall maintain in confidence, and shall cause its directors, officers,
employees, representatives, agents, and advisors to maintain in confidence, any
written, oral, or other information obtained as the result of or in connection
with this Agreement , unless (i) such information is already known to
others,(ii) the use of such information is necessary or appropriate in making
any filing or obtaining any consent or approval required for its performance of
duties or obligations under this Agreement; provided, that the Trustee will, to
the extent practicable and permitted by law, notify the Settlors prior to any
such disclosure, (iii) the furnishing or use of information is required by law,
regulation, court order, or order of a national stock exchange on which the
Escrow Shares or the shares of the Trustee are listed, or (iv) the disclosure of
such information is made for the purpose of protecting the Party’s rights or
interests.

     

    
      	
              8.2 

            	
              Amendments

            

    

     

    This
Agreement shall not be amended, supplemented or otherwise modified except by
prior written consents of all Parties and the Collateral Agent.

     

    
      	
              8.3 

            	
              Successors and
      Assign

            

    

     

    This
Agreement shall be binding upon and inure to the benefit of each of the
Settlors, the Trustee, and their respective successors and permitted
assign.  The Trustee may not assign any of its rights or obligations
hereunder except pursuant to an order or judgment of a court with competent
jurisdiction.  The Settlors may not assign any of their rights or
obligations hereunder except with the written consent of the Trustee and the
Collateral Agent.

     

    
      	
              8.4 

            	
              Clarification

            

    

     

    The
Trustee may provide the Settlors/Beneficiaries legal and tax advices as possible
as the Trustee deems necessary.  However, the Governmental Authority
may have different opinions from the advices provided by the Trustee, including
but not limited to the tax base, tax rate, etc.  The Settlors shall
ask their legal and tax consultants for the relevant legal, tax and related
risks.  The Trustee makes no representation or guarantee to any legal
or tax advices given under this Agreement.  The Settlors confirm that
they have entered into this Agreement at their own discretions.

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     

    
      	
              8.5 

            	
              No
      Waiver

            

    

     

    No
failure on the part of any Party or any its agents, nominees or representatives
to exercise, and no course of dealing with respect to, and no delay in
exercising, any right, power or remedy hereunder, shall operate as a waiver
thereof; nor shall any single or partial exercise by any Party or any of its
agents, nominees or representatives of any right, power or remedy hereunder
preclude any other or future exercise thereof or the exercise of any other
right, power or remedy.  The remedies herein are cumulative and are
not exclusive of any remedies provided by law.

     

    
      	
              8.6 

            	
              Notices

            

    

     

    Any
Distribution Notice, Instruction or other notice under this Agreement shall be
made in writing and delivered with a hard copy by a registered
mail.  Any Distribution Notice or Instruction or other notice sent by
the above-mentioned way shall be deemed given or made on the date of the actual
receipt.  Any Distribution Notice, Instruction or other notice must be
addressed as set forth below (or pursuant to such other address as may be
designated in writing by the Party to receive such notice in accordance with
this Article 8.6).

     

    To the
Settlors:

     

    Celsia
Technologies, Inc.

    Address:
1395 Brickell Avenue, Suite 800, Miami, Florida 33131

    Facsimile:
1-305-359-9698

    Telephone:
1-305-529-6290

    Attention:
Jorge Fernandez

    

    Celsia
Technologies Taiwan, Inc.

    Address:
No. 2, Heding Road, Jhongli City, Taoyuan County 320, Taiwan, ROC

    Facsimile:  +866-3-462-3452

    Telephone:
+866-3-462-4957

    Attention:  Chien-Hung
Sun

    

    To the
Trustee:

     

    Chinatrust
Commercial Bank, Ltd.

    4F, NO.3,
SUNG SHOU ROAD

    TAIPEI
110, TAIWAN, R.O.C.

    Facsimile:

    Telephone:

    Attention:

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

     

    With a
copy to

    Chinatrust
Commercial Bank, Ltd.

    9F, NO.3,
SUNG SHOU ROAD

    TAIPEI
110, TAIWAN, R.O.C.

    Facsimile:

    Telephone:

    Attention:

    

     

    To the Collateral
Agent:

     

    Midsummer
Ventures, L.P.

    c/o
Midsummer Capital

    Address:
295 Madison Avenue, 38th Floor

     New York,
NY 10017, USA

    Attention:
Alan
Benaim and Alisa Butchkowski

    

    with a
copy to

    (which
shall not constitute notice to the Collateral Agent)

    Feldman
Weinstein & Smith LLP

    420
Lexington Avenue, New Your, NY 10170, USA

    Attention:
Robert Charron, Esq.

     

    
      	
              8.7 

            	
              Headings

            

    

     

    Captions
and article headings appearing herein are included solely for convenience of
reference and are not intended to affect the interpretation of any provision of
this Agreement.

     

    
      	
              8.8 

            	
              Counterparts

            

    

     

    This
Agreement may be executed in any number of separate counterparts (including by
facsimile transmission), and all of said counterparts taken together shall be
deemed to constitute one and the same instrument.

     

    
      	
              8.9 

            	
              Governing Law and
      Dispute Resolution

            

    

     

    8.9.1         This
Agreement and the rights and obligations of the Parties under this Agreement
shall be governed by, and construed in accordance with, the laws of the ROC,
without regard to the conflict of laws rules thereof.

     

    8.9.2         The
Parties hereby irrevocably submit to the non-exclusive jurisdiction of the
Taipei District Court, ROC.

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by
their respective officers or representatives hereunto duly authorized, as of the
day and year first above written.

     

    
      
        
          
            
              
                
                  
                    
                      
                        	
                                SETTLORS/BENEFICIARIES

                              
	 
      
	
                                CELSIA
      TECHNOLOGIES, INC.

                              
	 
      
	/s/
      George A. Meyer IV
	
                                Name:  George
      A. Meyer IV

                              
	Title:   
      Chief Technology Officer
	
                                Address:
      1395 Brickell Avenue, Suite 800, Miami, Florida 33131

                              
	 
      
	
                                CELSIA
      TECHNOLOGIES TAIWAN, INC.

                              
	 
      
	/s/
      George A. Meyer IV
	
                                Name:
      George A. Meyer IV

                              
	Title:   Chairman
	
                                Address:
      No. 2, Heding Road, Jhongli City, Taoyuan County 320, Taiwan,
      ROC

                              
	 
      
	
                                TRUSTEE

                              
	 
      
	
                                CHINATRUST
      COMMERCIAL BANK, LTD.

                              
	 
      
	
                                By:

                              	/s/
      Chen Chiu-Wen
	
                                Name:
      Chen Chiu-Wen

                              
	
                                Title:
      President

                              

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
         

      

      
        14

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