Document:

Exhibit 10.5

    

    
      REGISTRATION
        RIGHTS AGREEMENT

       

      This
        Registration Rights Agreement (the “Agreement”)
        is
        made and entered into as of this 12th day of May, 2008 by and among Global
        Services Partners Acquisition Corp., a Delaware corporation (the “Company”),
        and
        the “Investors” named in that certain Purchase Agreement by and among the
        Company and the Investors (the “Purchase
        Agreement”),
        it
        being understood that execution by an Investor of the Purchase Agreement
        shall
        be deemed execution of this Agreement by the Investor. Capitalized terms
        used
        herein have the respective meanings ascribed thereto in the Purchase Agreement
        unless otherwise defined herein. 

       

      The
        parties hereby agree as follows: 

       

      1. Certain
        Definitions.
        

       

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

       

      “Class
        Y Warrants”
shall
        mean a new class of warrants issued to the Investors in form similar to the
        Company’s Class W and Class Z warrants issued in exchange and substitution for
        Class W or Class Z warrants except, however, the exercise price shall be
        $1.50
        per share, the term shall expire on May 31, 2013 and the price per share
        upon
        which the Company can exercise its redemption right shall be $2.50 per
        share.

       

      “Common
        Stock”
shall
        mean the Company’s common stock, par value $0.0001 per share, and any securities
        into which such shares may hereinafter be reclassified. 

       

      “Investors”
shall
        mean the Investors identified in the Purchase Agreement and any Affiliate
        or
        permitted transferee of any Investor who is a subsequent holder of any
        Registrable Securities. 

       

      “Prospectus”
shall
        mean (i) the prospectus included in any Registration Statement, 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 such
        Registration Statement and by all other amendments and supplements to the
        prospectus, including post-effective amendments and all material incorporated
        by
        reference in such prospectus, and (ii) any “free writing prospectus” as defined
        in Rule 405 under the 1933 Act. 

       

      “Register,”
        “registered”
and
        “registration”
refer
        to a registration made by preparing and filing a Registration Statement or
        similar document in compliance with the 1933 Act (as defined below), and
        the
        declaration or ordering of effectiveness of such Registration Statement or
        document. 

       

      “Registrable
        Securities”
shall
        mean (i) the Shares and (ii) any other securities issued or issuable with
        respect to or in exchange for Registrable Securities; provided, that, a security
        shall cease to be a Registrable Security upon (A) sale pursuant to a
        Registration Statement or Rule 144 under the 1933 Act, or (B) such security
        becoming eligible for sale by the Investors pursuant to Rule 144(k).

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      “Registration
        Statement”
shall
        mean any registration statement of the Company filed under the 1933 Act that
        covers the resale of any of the Registrable Securities pursuant to the
        provisions of this Agreement, amendments and supplements to such Registration
        Statement, including post-effective amendments, all exhibits and all material
        incorporated by reference in such Registration Statement. 

       

      “Required
        Investors”
means
        the Investors holding a majority of the Registrable Securities. 

       

      “SEC”
means
        the U.S. Securities and Exchange Commission. 

       

      “Shares”
means
        the shares of Common Stock issued and issuable upon conversion of the Company’s
        shares of its Series A Preferred Stock sold pursuant to the Purchase Agreement
        and Class Y Warrants. 

       

      “1933
        Act”
means
        the Securities Act of 1933, as amended, and the rules and regulations
        promulgated thereunder. 

       

      “1934
        Act”
means
        the Securities Exchange Act of 1934, as amended, and the rules and regulations
        promulgated thereunder. 

       

      2. Registration.
        

       

      (a) Registration
        Statements.
        

       

      (i) Within
        thirty (30) days following the Company’s filing of its Form 10-K for its fiscal
        year ended June 30, 2008 but no later than October 15, 2008 (the “Filing
        Deadline”),
        the
        Company shall prepare and file with the SEC one Registration Statement on
        Form
        S-1 (or, if Form S-1 is not then available to the Company, on such form of
        registration statement as is then available to effect a registration for
        resale
        of the Registrable Securities), covering the resale of the Registrable
        Securities. Subject to any SEC comments, such Registration Statement shall
        include the plan of distribution attached hereto as Exhibit
        A;
        provided, however, that no Investor shall be named as an “underwriter” in the
        Registration Statement without the Investor’s prior written consent. Such
        Registration Statement also shall cover, to the extent allowable under the
        1933
        Act and the rules promulgated thereunder (including Rule 416), such
        indeterminate number of additional shares of Common Stock resulting from
        stock
        splits, stock dividends or similar transactions with respect to the Registrable
        Securities. Except for shares of Common Stock underlying all of the Company’s
        outstanding Class W and Class Z warrants, Class Y Warrants, unregistered
        Class W
        and Class Z warrants, warrants issued to HCFP/Brenner Securities, LLC as
        placement agent for the sale of shares of Series A Preferred Stock sold pursuant
        to the Purchase Agreement and shares of Common Stock underlying these warrants,
        such Registration Statement shall not include any shares of Common Stock
        or
        other securities for the account of any other holder without the prior written
        consent of the Required Investors. The Registration Statement (and each
        amendment or supplement thereto, and each request for acceleration of
        effectiveness thereof) shall be provided in accordance with Section 3(c)
        to the
        Investors and their counsel prior to its filing or other submission. If a
        Registration Statement covering the Registrable Securities is not filed with
        the
        SEC on or prior to the Filing Deadline, the Company will make pro rata payments
        to each Investor, as liquidated damages and not as a penalty, in an amount
        equal
        to .5% of the aggregate amount invested by such Investor for each 30-day
        period
        or pro rata for any portion thereof following the Filing Deadline for which
        no
        Registration Statement is filed with respect to the Registrable Securities.
        Such
        payments shall constitute the Investors’ exclusive monetary remedy for such
        events, but shall not affect the right of the Investors to seek injunctive
        relief. Such payments shall be made to each Investor in cash. 

      
        
           

        

        
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      (ii) S-3
        Qualification.
        Promptly following the date (the “Qualification
        Date”)
        upon
        which the Company becomes eligible to use a registration statement on Form
        S-3
        to register the Registrable Securities for resale, but in no event more than
        thirty (30) days after the Qualification Date (the “Qualification
        Deadline”),
        the
        Company shall file a registration statement on Form S-3 covering the Registrable
        Securities (or a post-effective amendment on Form S-3 to the registration
        statement on Form S-1) (a “Shelf
        Registration Statement”)
        and
        shall use commercially reasonable efforts to cause such Shelf Registration
        Statement to be declared effective as promptly as practicable thereafter.
        If a
        Shelf Registration Statement covering the Registrable Securities is not filed
        with the SEC on or prior to the Qualification Deadline, the Company will
        make
        pro rata payments to each Investor, as liquidated damages and not as a penalty,
        in an amount equal to .5% of the aggregate purchase price paid by such Investor
        pursuant to the Purchase Agreement attributable to those Registrable Securities
        that remain unsold at that time for each 30-day period or pro rata for any
        portion thereof following the date by which such Shelf Registration Statement
        should have been filed for which no such Shelf Registration Statement is
        filed
        with respect to the Registrable Securities. Such payments shall constitute
        the
        Investors’ exclusive monetary remedy for such events, but shall not affect the
        right of the Investors to seek injunctive relief. Such payments shall be
        made to
        each Investor in cash. 

       

      (b) Expenses.
        The
        Company will pay all expenses associated with each registration, including
        filing and printing fees, the Company’s counsel and accounting fees and
        expenses, costs associated with clearing the Registrable Securities for sale
        under applicable state securities laws and listing fees, fees and expenses
        of
        one counsel to the Investors (up to a maximum of $10,000 and the Investors’
reasonable expenses in connection with the registration, but excluding
        discounts, commissions, fees of underwriters, selling brokers, dealer managers
        or similar securities industry professionals with respect to the Registrable
        Securities being sold. 

      
        
           

        

        
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      (c) Effectiveness.
        

       

      (i) The
        Company shall use commercially reasonable efforts to have the Registration
        Statement declared effective as soon as practicable. The Company shall notify
        the Investors by facsimile or e-mail as promptly as practicable, and in any
        event, within twenty-four (24) hours, after any Registration Statement is
        declared effective and shall simultaneously provide the Investors with copies
        of
        any related Prospectus to be used in connection with the sale or other
        disposition of the securities covered thereby. If (A)(x) a Registration
        Statement covering the Registrable Securities is not declared effective by
        the
        SEC prior to the earlier of (i) five (5) Business Days after the SEC shall
        have
        informed the Company that no review of the Registration Statement will be
        made
        or that the SEC has no further comments on the Registration Statement or
        (ii)
        January 15, 2009, or (y) a Shelf Registration Statement is not declared
        effective by the SEC within ninety (90) days after the Qualification Deadline
        (the “Shelf
        Effectiveness Deadline”),
        or
        (B) after a Registration Statement has been declared effective by the SEC,
        sales
        cannot be made pursuant to such Registration Statement for any reason (including
        without limitation by reason of a stop order, or the Company’s failure to update
        the Registration Statement), but excluding any Allowed Delay (as defined
        below)
        or the inability of any Investor to sell the Registrable Securities covered
        thereby due to market conditions, then the Company will make pro rata payments
        to each Investor, as liquidated damages and not as a penalty, in an amount
        equal
        to .5% of the aggregate amount invested by such Investor for each 30- day
        period
        or pro rata for any portion thereof following the date by which such
        Registration Statement should have been effective (the “Blackout
        Period”).
        Such
        payments shall constitute the Investors’ exclusive monetary remedy for such
        events, but shall not affect the right of the Investors to seek injunctive
        relief. The amounts payable as liquidated damages pursuant to this paragraph
        shall be paid monthly within three (3) Business Days of the last day of each
        month following the commencement of the Blackout Period until the termination
        of
        the Blackout Period. Such payments shall be made to each Investor in cash.
        

       

      (ii) For
        not
        more than twenty (20) consecutive days or for a total of not more than
        forty-five (45) days in any twelve (12) month period, the Company may suspend
        the use of any Prospectus included in any Registration Statement contemplated
        by
        this Section in the event that the Company determines in good faith that
        such
        suspension is necessary to (A) delay the disclosure of material non-public
        information concerning the Company, the disclosure of which at the time is
        not,
        in the good faith opinion of the Company, in the best interests of the Company
        or (B) amend or supplement the affected Registration Statement or the related
        Prospectus so that such Registration Statement or Prospectus shall not include
        an untrue statement of a material fact or omit to state a material fact required
        to be stated therein or necessary to make the statements therein, in the
        case of
        the Prospectus in light of the circumstances under which they were made,
        not
        misleading (an “Allowed
        Delay”);
        provided, that the Company shall promptly (a) notify each Investor in writing
        of
        the commencement of and the reasons for an Allowed Delay, but shall not (without
        the prior written consent of an Investor) disclose to such Investor any material
        non-public information giving rise to an Allowed Delay, (b) advise the Investors
        in writing to cease all sales under the Registration Statement until the
        end of
        the Allowed Delay and (c) use commercially reasonable efforts to terminate
        an
        Allowed Delay as promptly as practicable. Prior to the earlier of (i) the
        Shelf
        Effectiveness Deadline or (ii) the date on which the Shelf Registration
        Statement is declared effective, the Company may extend the period of any
        Allowed Delay to not more than a total of thirty (30) consecutive days or
        to not
        more than a total of 60 days in any twelve (12) month period if such extension
        is reasonably necessary in order for the SEC to declare effective a
        post-effective amendment to the Registration Statement. 

      
        
           

        

        
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      (d) Rule
        415; Cutbacks.
        If at
        any time the SEC takes the position that the offering of some or all of the
        Registrable Securities in a Registration Statement is not eligible to be
        made on
        a delayed or continuous basis under the provisions of Rule 415 under the
        1933
        Act or requires any Investor to be named as an “underwriter”, the Company shall
        use its commercially reasonable best efforts to persuade the SEC that the
        offering contemplated by the Registration Statement is a valid secondary
        offering and not an offering “by or on behalf of the issuer” as defined in Rule
        415 and that none of the Investors is an “underwriter”. The Investors shall have
        the right to participate or have their counsel participate in any meetings
        or
        discussions with the SEC regarding the SEC’s position and to comment or have
        their counsel comment on any written submission made to the SEC with respect
        thereto. No such written submission shall be made to the SEC to which the
        Investors’ counsel reasonably objects. In the event that, despite the Company’s
        commercially reasonable efforts and compliance with the terms of this Section
        2(d), the SEC refuses to alter its position, the Company shall (i) remove
        from
        the Registration Statement such portion of the Registrable Securities (the
        “Cut
        Back Shares”)
        and/or
        (ii) agree to such restrictions and limitations on the registration and resale
        of the Registrable Securities as the SEC may require to assure the Company’s
        compliance with the requirements of Rule 415; provided, however, that the
        Company shall not agree to name any Investor as an “underwriter” in such
        Registration Statement without the prior written consent of such Investor
        (collectively, the “SEC
        Restrictions”).
        Any
        cut-back imposed on the Investors pursuant to this Section 2(d) shall be
        allocated among the Investors on a pro rata basis, unless the SEC Restrictions
        otherwise require or provide. 

       

      3. Company
        Obligations.
        The
        Company will use commercially reasonable efforts to effect the registration
        of
        the Registrable Securities in accordance with the terms hereof, and pursuant
        thereto the Company will, as expeditiously as possible: 

       

      (a) use
        commercially reasonable efforts to cause such Registration Statement to become
        effective and to remain continuously effective for a period that will terminate
        upon the earlier of (i) the date on which all Registrable Securities covered
        by
        such Registration Statement as amended from time to time, have been sold,
        and
        (ii) the date on which all Registrable Securities covered by such Registration
        Statement may be sold pursuant to Rule 144(k) (the “Effectiveness
        Period”)
        and
        advise the Investors in writing when the Effectiveness Period has expired;
        

       

      (b) prepare
        and file with the SEC such amendments and post-effective amendments to the
        Registration Statement and the Prospectus as may be necessary to keep the
        Registration Statement effective for the Effectiveness Period and to comply
        with
        the provisions of the 1933 Act and the 1934 Act with respect to the distribution
        of all of the Registrable Securities covered thereby; 

       

      (c) provide
        copies to and permit counsel designated by the Investors to review each
        Registration Statement and all amendments and supplements thereto no fewer
        than
        seven (7) days prior to their filing with the SEC and not file any document
        to
        which such counsel reasonably objects; 

      
        
           

        

        
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      (d) furnish
        to the Investors and their legal counsel (i) promptly after the same is prepared
        and publicly distributed, filed with the SEC, or received by the Company
        (but
        not later than two (2) Business Days after the filing date, receipt date
        or
        sending date, as the case may be) one (1) copy of any Registration Statement
        and
        any amendment thereto, each preliminary prospectus and Prospectus and each
        amendment or supplement thereto, and each letter written by or on behalf
        of the
        Company to the SEC or the staff of the SEC, and each item of correspondence
        from
        the SEC or the staff of the SEC, in each case relating to such Registration
        Statement (other than any portion of any thereof which contains information
        for
        which the Company has sought confidential treatment), and (ii) such number
        of
        copies of a Prospectus, including a preliminary prospectus, and all amendments
        and supplements thereto and such other documents as each Investor may reasonably
        request in order to facilitate the disposition of the Registrable Securities
        owned by such Investor that are covered by the related Registration Statement;
        

       

      (e) (i)
        promptly notify the Investors of the issuance of any stop order or other
        suspension of the effectiveness of any Registration Statement and (ii) use
        commercially reasonable efforts to (A) prevent the issuance of any stop order
        or
        other suspension of effectiveness and, (B) if such order is issued, obtain
        the
        withdrawal of any such order at the earliest possible moment; 

       

      (f) prior
        to
        any public offering of Registrable Securities, use commercially reasonable
        efforts to register or qualify or cooperate with the Investors and their
        counsel
        in connection with the registration or qualification of such Registrable
        Securities for offer and sale under the securities or blue sky laws of such
        jurisdictions requested by the Investors and do any and all other commercially
        reasonable acts or things necessary or advisable to enable the distribution
        in
        such jurisdictions of the Registrable Securities covered by the Registration
        Statement; provided, however, that the Company shall not be required in
        connection therewith or as a condition thereto to (i) qualify to do business
        in
        any jurisdiction where it would not otherwise be required to qualify but
        for
        this Section 3(f), (ii) subject itself to general taxation in any jurisdiction
        where it would not otherwise be so subject but for this Section 3(f), or
        (iii)
        file a general consent to service of process in any such jurisdiction;

       

      (g) use
        commercially reasonable efforts to cause all Registrable Securities covered
        by a
        Registration Statement to be listed on each securities exchange, interdealer
        quotation system or other market on which similar securities issued by the
        Company are then listed; 

       

      (h) immediately
        notify the Investors, at any time prior to the end of the Effectiveness Period,
        upon discovery that the Prospectus includes an untrue statement of a material
        fact or omits to state any material fact required to be stated therein or
        necessary to make the statements therein not misleading in light of the
        circumstances then existing, and promptly prepare, file with the SEC and
        furnish
        to such holder a supplement to or an amendment of such Prospectus as may
        be
        necessary so that such Prospectus shall not include an untrue statement of
        a
        material fact or omit to state a material fact required to be stated therein
        or
        necessary to make the statements therein not misleading in light of the
        circumstances then existing; and 

      
        
           

        

        
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      (i) otherwise
        use commercially reasonable efforts to comply with all applicable rules and
        regulations of the SEC under the 1933 Act and the 1934 Act, including, without
        limitation, Rule 172 under the 1933 Act, file any final Prospectus, including
        any supplement or amendment thereof, with the SEC pursuant to Rule 424 under
        the
        1933 Act, promptly inform the Investors in writing if, at any time during
        the
        Effectiveness Period, the Company does not satisfy the conditions specified
        in
        Rule 172 and, as a result thereof, the Investors are required to deliver
        a
        Prospectus in connection with any disposition of Registrable Securities and
        take
        such other actions as may be reasonably necessary to facilitate the registration
        of the Registrable Securities hereunder; and make available to its security
        holders, as soon as reasonably practicable, but not later than the Availability
        Date (as defined below), an earnings statement covering a period of at least
        twelve (12) months, beginning after the effective date of each Registration
        Statement, which earnings statement shall satisfy the provisions of Section
        11(a) of the 1933 Act, including Rule 158 promulgated thereunder (for the
        purpose of this subsection 3(i), “Availability
        Date”
means
        the 45th day following the end of the fourth fiscal quarter that includes
        the
        effective date of such Registration Statement, except that, if such fourth
        fiscal quarter is the last quarter of the Company’s fiscal year, “Availability
        Date”
means
        the 90th day after the end of such fourth fiscal quarter). 

       

      (j) With
        a
        view to making available to the Investors the benefits of Rule 144 (or its
        successor rule) and any other rule or regulation of the SEC that may at any
        time
        permit the Investors to sell shares of Common Stock to the public without
        registration, the Company covenants and agrees to: (i) make and keep public
        information available, as those terms are understood and defined in Rule
        144,
        until the earlier of (A) six months after such date as all of the Registrable
        Securities may be resold pursuant to Rule 144(k) or any other rule of similar
        effect or (B) such date as all of the Registrable Securities shall have been
        resold; (ii) file with the SEC in a timely manner all reports and other
        documents required of the Company under the 1934 Act; and (iii) furnish to
        each
        Investor upon request, as long as such Investor owns any Registrable Securities,
        (A) a written statement by the Company that it has complied with the reporting
        requirements of the 1934 Act, (B) a copy of the Company’s most recent Annual
        Report on Form 10-K or Quarterly Report on Form 10-Q, and (C) such other
        information as may be reasonably requested in order to avail such Investor
        of
        any rule or regulation of the SEC that permits the selling of any such
        Registrable Securities without registration. 

       

      4  Due
        Diligence Review; Information.
        The
        Company shall make available, during normal business hours, for inspection
        and
        review by the Investors, advisors to and representatives of the Investors
        (who
        may or may not be affiliated with the Investors and who are reasonably
        acceptable to the Company), all financial and other records, all SEC Filings
        (as
        defined in the Purchase Agreement) and other filings with the SEC, and all
        other
        corporate documents and properties of the Company as may be reasonably necessary
        for the purpose of such review, and cause the Company’s officers, directors and
        employees, within a reasonable time period, to supply all such information
        reasonably requested by the Investors or any such representative, advisor
        or
        underwriter in connection with such Registration Statement (including, without
        limitation, in response to all questions and other inquiries reasonably made
        or
        submitted by any of them), prior to and from time to time after the filing
        and
        effectiveness of the Registration Statement for the sole purpose of enabling
        the
        Investors and such representatives, advisors and underwriters and their
        respective accountants and attorneys to conduct initial and ongoing due
        diligence with respect to the Company and the accuracy of such Registration
        Statement. 

       

      
        
           

        

        
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      The
        Company shall not disclose material nonpublic information to the Investors,
        or
        to advisors to or representatives of the Investors, unless prior to disclosure
        of such information the Company identifies such information as being material
        nonpublic information and provides the Investors, such advisors and
        representatives with the opportunity to accept or refuse to accept such material
        nonpublic information for review and any Investor wishing to obtain such
        information enters into an appropriate confidentiality agreement with the
        Company with respect thereto. 

       

      5. Obligations
        of the Investors.
        

       

      (a) Each
        Investor shall furnish in writing to the Company such information regarding
        itself, the Registrable Securities held by it and the intended method of
        disposition of the Registrable Securities held by it, as shall be reasonably
        required to effect the registration of such Registrable Securities and shall
        execute such documents in connection with such registration as the Company
        may
        reasonably request. At least five (5) Business Days prior to the first
        anticipated filing date of any Registration Statement, the Company shall
        notify
        each Investor of the information the Company requires from such Investor
        if such
        Investor elects to have any of the Registrable Securities included in the
        Registration Statement. An Investor shall provide such information to the
        Company at least two (2) Business Days prior to the first anticipated filing
        date of such Registration Statement if such Investor elects to have any of
        the
        Registrable Securities included in the Registration Statement. 

       

      (b) Each
        Investor, by its acceptance of the Registrable Securities agrees to cooperate
        with the Company as reasonably requested by the Company in connection with
        the
        preparation and filing of a Registration Statement hereunder, unless such
        Investor has notified the Company in writing of its election to exclude all
        of
        its Registrable Securities from such Registration Statement. 

       

      (c) Each
        Investor agrees that, upon receipt of any notice from the Company of either
        (i)
        the commencement of an Allowed Delay pursuant to Section 2(c)(ii) or (ii)
        the
        happening of an event pursuant to Section 3(h) hereof, such Investor will
        immediately discontinue disposition of Registrable Securities pursuant to
        the
        Registration Statement covering such Registrable Securities, until the Investor
        is advised by the Company that such dispositions may again be made.

      
        
           

        

        
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      6. Indemnification.
        

       

      (a) Indemnification
        by the Company.
        The
        Company will indemnify and hold harmless each Investor and its officers,
        directors, members, employees and agents, successors and assigns, and each
        other
        person, if any, who controls such Investor within the meaning of the 1933
        Act,
        against any losses, claims, damages or liabilities, joint or several, to
        which
        they may become subject under the 1933 Act or otherwise, insofar as such
        losses,
        claims, damages or liabilities (or actions in respect thereof) arise out
        of or
        are based upon: (i) any untrue statement or alleged untrue statement of any
        material fact contained in any Registration Statement, any preliminary
        Prospectus or final Prospectus, or any amendment or supplement thereof; (ii)
        any
        blue sky application or other document executed by the Company specifically
        for
        that purpose or based upon written information furnished by the Company filed
        in
        any state or other jurisdiction in order to qualify any or all of the
        Registrable Securities under the securities laws thereof (any such application,
        document or information herein called a “Blue
        Sky Application”);
        (iii)
        the omission or alleged omission to state in a Blue Sky Application a material
        fact required to be stated therein or necessary to make the statements therein
        not misleading; (iv) any violation by the Company or its agents of any rule
        or
        regulation promulgated under the 1933 Act applicable to the Company or its
        agents and relating to action or inaction required of the Company in connection
        with such registration; or (v) any failure to register or qualify the
        Registrable Securities included in any such Registration Statement in any
        state
        where the Company or its agents has affirmatively undertaken or agreed in
        writing that the Company will undertake such registration or qualification
        on an
        Investor’s behalf and will reimburse such Investor, and each such officer,
        director or member and each such controlling person for any legal or other
        expenses reasonably incurred by them in connection with investigating or
        defending any such loss, claim, damage, liability or action; provided,
        however,
        that
        the Company will not be liable in any such case if and to the extent that
        any
        such loss, claim, damage or liability arises out of or is based upon (1)
        an
        untrue statement or alleged untrue statement or omission or alleged omission
        so
        made in conformity with information furnished by such Investor or any such
        controlling person in writing specifically for use in such Registration
        Statement or Prospectus or (2) the delivery by such Investor of an outdated
        or
        defective Prospectus after the Company has notified such Investor in writing
        that the Company does not meet the conditions for use of Rule 172 and that
        (A)
        as a result the Investor must deliver a Prospectus in connection with any
        sales
        under the Registration Statement and (B) the Prospectus is outdated or defective
        and prior to the receipt by such Investor of an amended or supplemented
        Prospectus, but only if and to the extent that following the receipt of the
        amended or supplemented Prospectus the misstatement or omission giving rise
        to
        such loss, claim, damage or liability would have been corrected. 

       

      (b) Indemnification
        by the Investors.
        Each
        Investor agrees, severally but not jointly, to indemnify and hold harmless,
        to
        the fullest extent permitted by law, the Company, its directors, officers,
        employees, stockholders and each person who controls the Company (within
        the
        meaning of the 1933 Act) against any losses, claims, damages, liabilities
        and
        expense (including reasonable attorney fees) resulting from (x) such Investor’s
        failure to deliver a Prospectus in connection with any sales under the
        Registration after the Company has advised the Investor in writing that (A)
        the
        Company does not meet the conditions for use of Rule 172 and (B) as a result
        the
        Investor must deliver a Prospectus in connection with any sales under the
        Registration Statement or (y) any untrue statement of a material fact or
        any
        omission of a material fact required to be stated in the Registration Statement
        or Prospectus or preliminary Prospectus or amendment or supplement thereto
        or
        necessary to make the statements therein not misleading, to the extent, but
        only
        to the extent that such untrue statement or omission is contained in (1)
        any
        information furnished in writing by such Investor to the Company specifically
        for inclusion in such Registration Statement or Prospectus or amendment or
        supplement thereto or (2) in an outdated or defective Prospectus delivered
        by
        the Investor in connection with any sales under the Registration Statement
        after
        the Company has notified such Investor in writing that the Company does not
        meet
        the conditions for use of Rule 172 and that (A) as a result the Investor
        must
        deliver a Prospectus in connection with any sales under the Registration
        Statement and (B) the Prospectus is outdated or defective and prior to the
        receipt by such Investor of an amended or supplemented Prospectus, but only
        if
        and to the extent that following the receipt of the amended or supplemented
        Prospectus the misstatement or omission giving rise to such loss, claim,
        damage
        or liability would have been corrected. In no event shall the liability of
        an
        Investor be greater in amount than the dollar amount of the proceeds (net
        of all
        expense paid by such Investor in connection with any claim relating to this
        Section 6 and the amount of any damages such Investor has otherwise been
        required to pay by reason of such untrue statement or omission) received
        by such
        Investor upon the sale of the Registrable Securities included in the
        Registration Statement giving rise to such indemnification obligation.

       

      
        
           

        

        
          9

          
            

          

        

        
           

        

      

      (c) Conduct
        of Indemnification Proceedings.
        Any
        person entitled to indemnification hereunder shall (i) give prompt notice
        to the
        indemnifying party of any claim with respect to which it seeks indemnification
        and (ii) permit such indemnifying party to assume the defense of such claim
        with
        counsel reasonably satisfactory to the indemnified party; provided
        that any
        person entitled to indemnification hereunder shall have the right to employ
        separate counsel and to participate in the defense of such claim, but the
        fees
        and expenses of such counsel shall be at the expense of such person unless
        (a)
        the indemnifying party has agreed to pay such fees or expenses, or (b) the
        indemnifying party shall have failed to assume the defense of such claim
        and
        employ counsel reasonably satisfactory to such person or (c) in the reasonable
        judgment of any such person, based upon written advice of its counsel, a
        conflict of interest exists between such person and the indemnifying party
        with
        respect to such claims (in which case, if the person notifies the indemnifying
        party in writing that such person elects to employ separate counsel at the
        expense of the indemnifying party, the indemnifying party shall not have
        the
        right to assume the defense of such claim on behalf of such person); and
        provided,
        further,
        that
        the failure of any indemnified party to give notice as provided herein shall
        not
        relieve the indemnifying party of its obligations hereunder, except to the
        extent that such failure to give notice shall materially adversely affect
        the
        indemnifying party in the defense of any such claim or litigation. It is
        understood that the indemnifying party shall not, in connection with any
        proceeding in the same jurisdiction, be liable for fees or expenses of more
        than
        one separate firm of attorneys at any time for all such indemnified parties.
        No
        indemnifying party will, except with the consent of the indemnified party,
        consent to entry of any judgment or enter into any settlement that does not
        include as an unconditional term thereof the giving by the claimant or plaintiff
        to such indemnified party of a release from all liability in respect of such
        claim or litigation. 

       

      (d) Contribution.
        If for
        any reason the indemnification provided for in the preceding paragraphs (a)
        and
        (b) is unavailable to an indemnified party or insufficient to hold it harmless,
        other than as expressly specified therein, then the indemnifying party shall
        contribute to the amount paid or payable by the indemnified party as a result
        of
        such loss, claim, damage or liability in such proportion as is appropriate
        to
        reflect the relative fault of the indemnified party and the indemnifying
        party,
        as well as any other relevant equitable considerations. No person guilty
        of
        fraudulent misrepresentation within the meaning of Section 11(f) of the 1933
        Act
        shall be entitled to contribution from any person not guilty of such fraudulent
        misrepresentation. In no event shall the contribution obligation of a holder
        of
        Registrable Securities be greater in amount than the dollar amount of the
        proceeds (net of all expenses paid by such holder in connection with any
        claim
        relating to this Section 6 and the amount of any damages such holder has
        otherwise been required to pay by reason of such untrue or alleged untrue
        statement or omission or alleged omission) received by it upon the sale of
        the
        Registrable Securities giving rise to such contribution obligation.

       

      
        
           

        

        
          10

          
            

          

        

        
           

        

      

      7. Miscellaneous.
        

       

      (a) Amendments
        and Waivers.
        This
        Agreement may be amended only by a writing signed by the Company and the
        Required Investors. The Company may take any action herein prohibited, or
        omit
        to perform any act herein required to be performed by it, only if the Company
        shall have obtained the written consent to such amendment, action or omission
        to
        act, of the Required Investors. 

       

      (b) Notices.
        All
        notices and other communications provided for or permitted hereunder shall
        be
        made as set forth in Section 10.4 of the Purchase Agreement. 

       

      (c) Assignments
        and Transfers by Investors.
        The
        provisions of this Agreement shall be binding upon and inure to the benefit
        of
        the Investors and their respective successors and assigns. An Investor may
        transfer or assign, in whole or from time to time in part, to one or more
        persons its rights hereunder in connection with the transfer of Registrable
        Securities by such Investor to such person, provided that such Investor complies
        with all laws applicable thereto and provides written notice of assignment
        to
        the Company promptly after such assignment is effected. 

       

      (d) Assignments
        and Transfers by the Company.
        This
        Agreement may not be assigned by the Company (whether by operation of law
        or
        otherwise) without the prior written consent of the Required Investors,
        provided, however, that the Company may assign its rights and delegate its
        duties hereunder to any surviving or successor corporation in connection
        with a
        merger or consolidation of the Company with another corporation, or a sale,
        transfer or other disposition of all or substantially all of the Company’s
        assets to another corporation, without the prior written consent of the Required
        Investors, after notice duly given by the Company to each Investor.

       

      (e) Benefits
        of the Agreement.
        The
        terms and conditions of this Agreement shall inure to the benefit of and
        be
        binding upon the respective permitted successors and assigns of the parties.
        Nothing in this Agreement, express or implied, is intended to confer upon
        any
        party other than the parties hereto or their respective successors and assigns
        any rights, remedies, obligations, or liabilities under or by reason of this
        Agreement, except as expressly provided in this Agreement. 

       

      (f) Counterparts;
        Faxes.
        This
        Agreement may be executed in two or more counterparts, each of which shall
        be
        deemed an original, but all of which together shall constitute one and the
        same
        instrument. This Agreement may also be executed via facsimile, which shall
        be
        deemed an original. 

      (g) Titles
        and Subtitles.
        The
        titles and subtitles used in this Agreement are used for convenience only
        and
        are not to be considered in construing or interpreting this Agreement.

       

      
        
           

        

        
          11

          
            

          

        

        
           

        

      

       

      (h) Severability.
        Any
        provision of this Agreement that is prohibited or unenforceable in any
        jurisdiction shall, as to such jurisdiction, be ineffective to the extent
        of
        such prohibition or unenforceability without invalidating the remaining
        provisions hereof but shall be interpreted as if it were written so as to
        be
        enforceable to the maximum extent permitted by applicable law, and any such
        prohibition or unenforceability in any jurisdiction shall not invalidate
        or
        render unenforceable such provision in any other jurisdiction. To the extent
        permitted by applicable law, the parties hereby waive any provision of law
        which
        renders any provisions hereof prohibited or unenforceable in any respect.
        

       

      (i) Further
        Assurances.
        The
        parties shall execute and deliver all such further instruments and documents
        and
        take all such other actions as may reasonably be required to carry out the
        transactions contemplated hereby and to evidence the fulfillment of the
        agreements herein contained. 

       

      (j) Entire
        Agreement.
        This
        Agreement is intended by the parties as a final expression of their agreement
        and intended to be a complete and exclusive statement of the agreement and
        understanding of the parties hereto in respect of the subject matter contained
        herein. This Agreement supersedes all prior agreements and understandings
        between the parties with respect to such subject matter. 

       

      (k) Governing
        Law; Consent to Jurisdiction; Waiver of Jury Trial.
        This
        Agreement shall be governed by, and construed in accordance with, the internal
        laws of the State of New York without regard to the choice of law principles
        thereof. Each of the parties hereto irrevocably submits to the exclusive
        jurisdiction of the courts of the State of New York located in New York County
        and the United States District Court for the Southern District of New York
        for
        the purpose of any suit, action, proceeding or judgment relating to or arising
        out of this Agreement and the transactions contemplated hereby. Service of
        process in connection with any such suit, action or proceeding may be served
        on
        each party hereto anywhere in the world by the same methods as are specified
        for
        the giving of notices under this Agreement. Each of the parties hereto
        irrevocably consents to the jurisdiction of any such court in any such suit,
        action or proceeding and to the laying of venue in such court. Each party
        hereto
        irrevocably waives any objection to the laying of venue of any such suit,
        action
        or proceeding brought in such courts and irrevocably waives any claim that
        any
        such suit, action or proceeding brought in any such court has been brought
        in an
        inconvenient forum. EACH
        OF THE PARTIES HERETO WAIVES ANY RIGHT TO REQUEST A TRIAL BY JURY IN ANY
        LITIGATION WITH RESPECT TO THIS AGREEMENT AND REPRESENTS THAT COUNSEL HAS
        BEEN
        CONSULTED SPECIFICALLY AS TO THIS WAIVER. 

       

      *
        * * *
        *

      
        
           

        

        
          12

          
            

          

        

        
           

        

      

      IN
        WITNESS WHEREOF, the parties have executed this Agreement or caused their
        duly
        authorized officers to execute this Agreement as of the date first above
        written.

       

      
        	
                The
                  Company: 

              	
                 

              	
                GLOBAL
                  SERVICES PARTNERS ACQUISITION CORP.

              
	 	 	 
	 	 	
                By:
                  _____________________________

              
	 	 	
                Name:
                  Melanie Mroz

                Title:
                  President and Chief Executive
                  Officer

              

      

      

      
        	
                The
                  Investors:

              	 	
                Entity
                  Name:
                  _____________________________________________

              

      

      

      
        	 	 	
                By:
                  _______________________________________

              
	 	 	 
	 	 	
                Name:
                  _____________________________________

              
	 	 	 
	 	 	
                Title:
                  ______________________________________

              
	 	 	 
	 	
                [Signature
                  Page to Registration Rights
                  Agreement]

              

      

      
        
           

        

        
          13

          
            

          

        

        
           

        

      

      Exhibit
        A

       

      Plan
        of Distribution

       

      The
        selling stockholders, which as used herein includes donees, pledgees,
        transferees or other successors-in-interest selling shares of common stock
        or
        interests in shares of common stock received after the date of this prospectus
        from a selling stockholder as a gift, pledge, partnership distribution or
        other
        transfer, may, from time to time, sell, transfer or otherwise dispose of
        any or
        all of their shares of common stock or interests in shares of common stock
        on
        any stock exchange, market or trading facility on which the shares are traded
        or
        in private transactions. These dispositions may be at fixed prices, at
        prevailing market prices at the time of sale, at prices related to the
        prevailing market price, at varying prices determined at the time of sale,
        or at
        negotiated prices. 

       

      The
        selling stockholders may use any one or more of the following methods when
        disposing of shares or interests therein: 

       

      
        
          ·
            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; 

       

      ·
short
        sales effected after the date the registration
        statement of which this Prospectus is a part is declared effective by the
        SEC;

       

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

       

      ·
broker-dealers
        may agree with the selling stockholders to
        sell a specified number of such shares at a stipulated price per share; and
        

       

      ·
a
        combination of any such methods of sale. 

       

      The
        selling stockholders may, from time to time, pledge or grant a security interest
        in some or all of the shares of common stock owned by them and, if they default
        in the performance of their secured obligations, the pledgees or secured
        parties
        may offer and sell the shares of common stock, from time to time, under this
        prospectus, or under an amendment to this prospectus under Rule 424(b)(3)
        or
        other applicable provision of the Securities Act amending the list of selling
        stockholders to include the pledgee, transferee or other successors in interest
        as selling stockholders under this prospectus. The selling stockholders also
        may
        transfer the shares of common stock in other circumstances, in which case
        the
        transferees, pledgees or other successors in interest will be the selling
        beneficial owners for purposes of this prospectus. 

      
        
           

        

        
          14

          
            

          

        

        
           

        

      

      In
        connection with the sale of our 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 our 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
        aggregate proceeds to the selling stockholders from the sale of the common
        stock
        offered by them will be the purchase price of the common stock less discounts
        or
        commissions, if any. Each of the selling stockholders reserves the right
        to
        accept and, together with their agents from time to time, to reject, in whole
        or
        in part, any proposed purchase of common stock to be made directly or through
        agents. We will not receive any of the proceeds from this offering.

       

      The
        selling stockholders also may resell all or a portion of the shares in open
        market transactions in reliance upon Rule 144 under the Securities Act of
        1933,
        provided that they meet the criteria and conform to the requirements of that
        rule. 

       

      The
        selling stockholders and any underwriters, broker-dealers or agents that
        participate in the sale of the common stock or interests therein may be
“underwriters” within the meaning of Section 2(11) of the Securities Act. Any
        discounts, commissions, concessions or profit they earn on any resale of
        the
        shares may be underwriting discounts and commissions under the Securities
        Act.
        Selling stockholders who are “underwriters” within the meaning of Section 2(11)
        of the Securities Act will be subject to the prospectus delivery requirements
        of
        the Securities Act. 

       

      To
        the
        extent required, the shares of our common stock to be sold, the names of
        the
        selling stockholders, the respective purchase prices and public offering
        prices,
        the names of any agents, dealer or underwriter, any applicable commissions
        or
        discounts with respect to a particular offer will be set forth in an
        accompanying prospectus supplement or, if appropriate, a post-effective
        amendment to the registration statement that includes this prospectus.

       

      In
        order
        to comply with the securities laws of some states, if applicable, the common
        stock may be sold in these jurisdictions only through registered or licensed
        brokers or dealers. In addition, in some states the common stock may not
        be sold
        unless it has been registered or qualified for sale or an exemption from
        registration or qualification requirements is available and is complied with.
        

      
        
           

        

        
          15

          
            

          

        

        
           

        

      

      We
        have
        advised the selling stockholders that the anti-manipulation rules of Regulation
        M under the Exchange Act may apply to sales of shares in the market and to
        the
        activities of the selling stockholders and their affiliates. In addition,
        to the
        extent applicable we will make copies of this prospectus (as it may be
        supplemented or amended from time to time) available to the selling stockholders
        for the purpose of satisfying the prospectus delivery requirements of the
        Securities Act. The selling stockholders may indemnify any broker-dealer
        that
        participates in transactions involving the sale of the shares against certain
        liabilities, including liabilities arising under the Securities Act.

       

      We
        have
        agreed to indemnify the selling stockholders against liabilities, including
        liabilities under the Securities Act and state securities laws, relating
        to the
        registration of the shares offered by this prospectus. 

       

      We
        have
        agreed with the selling stockholders to keep the registration statement of
        which
        this prospectus constitutes a part effective until the earlier of (1) such
        time
        as all of the shares covered by this prospectus have been disposed of pursuant
        to and in accordance with the registration statement or (2) the date on which
        the shares may be sold pursuant to Rule 144(k) of the Securities Act.

      
        
           

        

        
          16Exhibit 10.6

    

    LOCK-UP
      AGREEMENT

     

    May
      12,
      2008

     

    SouthPeak
      Interactive Corporation

    3130
      Fairview Park Drive

    Suite
      500

    Falls
      Church, Virginia 22042

    

      
        	
                Re:

              	
                Securities
                  Issued in Exchange for the Membership Interests of SouthPeak Interactive,
                  LLC

              

      

    

     

    Ladies
      and Gentlemen:

     

    In
      connection with the Purchase Agreement (“Agreement”),
      dated
      May 12, 2008 by and among SouthPeak Interactive Corporation, a Delaware
      corporation and formerly known as Global Services Partners Acquisition Corp.
      (the “Company”),
      SouthPeak Interactive, LLC, a Virginia limited liability company (the
“SouthPeak”),
      and
      the investors set forth on the signature pages affixed thereto (the
“Investors”),
      and
      to induce the Investors to enter into the Agreement and consummate the
      transactions contemplated thereby, the undersigned agrees to, neither directly
      nor indirectly, during the “Restricted Period” (as hereinafter
      defined):

     

    (1) sell
      or
      offer or contract to sell or offer, grant any option or warrant for the sale
      of,
      assign, transfer, pledge, hypothecate, or otherwise encumber or dispose of
      (all
      being referred to as a “Transfer”)
      any
      legal or beneficial interest in the “Restricted Securities” (as hereinafter
      defined); or

     

    (2) enter
      into any swap or any other agreement or any transaction that transfers, in
      whole
      or in part, directly or indirectly, the economic consequence of ownership of
      any
      of the Restricted Securities, whether such swap transaction is to be settled
      by
      delivery of any Restricted Securities or other securities of any person, in
      cash
      or otherwise.

     

    As
      used
      herein, “Restricted
      Period”
means
      the period commencing on the date hereof and ending on the 365th day
      hereafter.

     

    As
      used
      herein, “Restricted
      Securities”
means
      any shares of the Company’s common stock, par value $.0001 per share
      (“Company
      Stock”),
      issued to the undersigned pursuant to that certain Membership Interest Purchase
      Agreement, dated an even date herewith, by and among the Company, SouthPeak
      and
      the members of SouthPeak; provided, however, that 180 days following the date
      hereof, 10% of the Restricted Securities shall be released from the restrictions
      and obligations of this Lock-up Agreement.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Notwithstanding
      the foregoing limitations, this Lock-Up Agreement will not prevent any Transfer
      of any or all of the Restricted Securities, either during the undersigned’s
      lifetime or on the undersigned’s death, by gift, will or intestate succession,
      or by judicial decree, to (a) FI
      Investment Group, LLC or to the Company in satisfaction of the undersigned’s
      obligations to FI Investment Group, LLC, or (b) the undersigned’s “family
      members” (as defined below) or to trusts, family limited partnerships and
      similar entities primarily for the benefit of the undersigned or the
      undersigned’s “family members”; provided, however, that in each and any such
      event it shall be a condition to the Transfer that the transferee execute an
      agreement stating that the transferee is receiving and holding the Restricted
      Securities subject to the provisions of this Lock-Up Agreement, and other than
      to return the Restricted Securities to the former ownership, there shall be
      no
      further Transfer of the Restricted Securities except in accordance with this
      Lock-Up Agreement. For purposes of this Lock-Up Agreement, “family member” shall
      mean spouse, lineal descendants, stepchildren, father, mother, brother or sister
      of the transferor or of the transferor’s spouse. Also notwithstanding the
      foregoing limitations, in the event the undersigned is an entity rather than
      an
      individual, this Lock-Up Agreement will not prevent any Transfer of any or
      all
      of the Restricted Securities to the shareholders of such entity, if it is a
      corporation, to the members of such entity, if it is a limited liability
      company, or to the partners in such entity, if it is a partnership; provided,
      however, that in each and any such event it shall be a condition to the Transfer
      that the transferee execute an agreement stating that the transferee is
      receiving and holding the Restricted Securities subject to the provisions of
      this Lock-Up Agreement, and other than to return the Restricted Securities
      to
      the former ownership, there shall be no further Transfer of the Restricted
      Securities in accordance with this Lock-Up Agreement.

     

    The
      undersigned hereby authorizes the Company’s transfer agent to apply to any
      certificates representing Restricted Securities issued to the undersigned the
      appropriate legend to reflect the existence and general terms of this Lock-up
      Agreement.

     

    This
      Lock-up Agreement will be legally binding on the undersigned and on the
      undersigned’s heirs, successors, executors, administrators, conservators and
      permitted assigns, and is executed as an instrument governed by the laws of
      the
      State of Delaware.

     

    
      	 	
              Very
                truly yours,

            
	 	 
	 	 	 
	 	 	
              (Signature)

            
	 	 	 
	 	 	
              Name:

            	 
	 	 	 	 
	 	 	
              Address:

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