Document:

Unassociated Document

    
      EXHIBIT
        10.25

    

     

    GRAN
      TIERRA ENERGY INC. 

    REGISTRATION
      RIGHTS AGREEMENT 

    

    This
      REGISTRATION RIGHTS AGREEMENT (this “Agreement”)
      is
      made as of June 20, 2006 by and between GRAN TIERRA ENERGY INC., a Nevada
      corporation, (the “Company”),
      and
      CD INVESTMENT PARTNERS, LTD. (the “Initial
      Investor”).

    

    WHEREAS,
      the Company has agreed to issue and sell to the Initial Investor, and the
      Initial Investor has agreed to purchase from the Company, 666,667 shares (the
      “Shares”)
      of the
      Company’s common stock, $0.001 par value per share (including any securities
      issued or issuable thereto or into which or for which such shares may be
      exchanged for, or converted into, pursuant to any stock dividend, stock split,
      stock combination, recapitalization, reclassification, reorganization or other
      similar event, the “Common
      Stock”)
      and a
      warrant to purchase 333,334 shares of Common Stock, at a per share price and
      upon the terms and conditions set forth in the Securities Purchase Agreement,
      dated as of the date hereof, between the Company and the Investor (the
“Securities
      Purchase Agreement”);
      and

    

    WHEREAS,
      the terms of the Securities Purchase Agreement provide that it shall be a
      condition precedent to the closing of the transactions thereunder, for the
      Company and the Investor to execute and deliver this Agreement. 

    

    NOW,
      THEREFORE, in consideration of the premises and mutual covenants contained
      herein, the parties hereto hereby agree as follows: 

    

    1.
      DEFINITIONS. Capitalized terms used but not defined herein shall have the
      meanings ascribed to them in the Securities Purchase Agreement. The following
      terms shall have the meanings provided therefor below or elsewhere in this
      Agreement as described below: 

    

    “Affiliates”
means
      any Person that, directly or indirectly, through one or more intermediaries,
      controls, is controlled by, or is under common control with, a Person, as such
      terms are used and construed under Rule 144. 

    

    “Board”
means
      the board of directors of the Company. 

    

    “Business
      Day”
means
      any day except Saturday, Sunday and any day which shall be a federal legal
      holiday or a day on which banking institutions in the State of New York are
      authorized or required by law or other governmental action to close.

    

    “Closing
      Date”
has
      the
      meaning set forth in the Securities Purchase Agreement. 

    

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

    

    “Investor”
means
      the Initial Investor and any person holding Registrable Shares or any Person
      to
      whom the rights under this Agreement have been transferred.

    

    
      
        
        

      

      
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    “Person”
      (whether or not capitalized) means an individual, partnership, limited liability
      company, corporation, association, trust, joint venture, unincorporated
      organization, and any government, governmental department or agency or political
      subdivision thereof. 

    

    “Prospectus”
means
      the prospectus included in any 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 under 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 Shares covered by such Registration Statement, and
      all other amendments and supplements to the Prospectus, including post-effective
      amendments, and all material incorporated by reference in such Prospectus.
      

    

    “Registrable
      Shares”
means,
      at the relevant time of reference thereto, the Shares, the Warrants and the
      Warrant Shares (including any shares of capital stock that may be issued in
      respect thereof, or into which or for which such Shares, Warrants or Warrant
      Shares may be exchanged for or converted into, pursuant to a stock split, stock
      dividend, recombination, recapitalization, reorganization, reclassification
      or
      the like), provided,
      however,
      that
      the term “Registrable Shares” shall not include any of the Shares or Warrants
      that are actually sold pursuant to a registration statement that has been
      declared effective under the Securities Act by the SEC. 

    

    “Registration
      Statement”
means
      the Mandatory Registration Statement, any Demand Registration on Form SB-2
      (or
      other equivalent or applicable form), and any additional registration statements
      contemplated by this Agreement, including (in each case) the Prospectus,
      amendments and supplements to such registration statement or Prospectus,
      including pre- and post-effective amendments, all exhibits thereto, and all
      material incorporated by reference in such registration statement or Prospectus.
      

    

    “Rule
      144”
means
      Rule 144 promulgated under the Securities Act and any successor or substitute
      rule, law or provision. 

    

    “SEC”
means
      the Securities and Exchange Commission. 

    

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

    

    “Warrant”
means
      the warrant issued to the Initial Investor pursuant to the Securities Purchase
      Agreement to purchase 333,334 shares of Common Stock.

    

    “Warrant
      Shares”
means
      the shares of Common Stock issuable upon exercise of, or otherwise pursuant
      to,
      the Warrant issued to the Initial Investor pursuant to the Securities Purchase
      Agreement.

    

    2. MANDATORY
      REGISTRATION.
      

    

    
      
        
        

      

      
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    (a) As
      promptly as possible after the date hereof, and in any event prior to the date
      that is seventy-five (75) days following the Closing Date (the “Mandatory
      Filing Date”),
      the
      Company shall prepare and file with the SEC a Registration Statement on Form
      SB-2 (or on such other appropriate form for the required purpose) for the
      purpose of registering under the Securities Act all of the Registrable Shares
      for resale by, and for the account of, the Investor as an initial selling
      stockholder thereunder (the “Mandatory
      Registration Statement”).
      The
      Mandatory Registration Statement shall permit the Investor to offer and sell,
      on
      a delayed or continuous basis pursuant to Rule 415 under the Securities Act,
      any
      or all of the Registrable Shares and shall contain (except if otherwise required
      pursuant to written comments received from the SEC upon a review of the
      Mandatory Registration Statement) the “Plan of Distribution” attached hereto as
Annex
      A.
      The
      Company agrees to use its best efforts to cause the Mandatory Registration
      Statement to be declared effective as soon as possible but in no event later
      than the date that is 120 days following the Closing Date (or 150 days following
      the Closing Date in the event the Registration Statement is the subject of
      a
      review by the SEC) (the “Mandatory
      Effective Date”)
      (including filing with the SEC, within five (5) Business Days of the date that
      the Company is notified (orally or in writing, whichever is earlier) by the
      SEC
      that the Mandatory Registration Statement will not be “reviewed” or will not be
      subject to further review, a request for acceleration of effectiveness in
      accordance with Rule 461 promulgated under the Securities Act (an “Acceleration
      Request”),
      which
      request shall request an effective date that is within three (3) Business Days
      of the date of such request) and will otherwise effect all such registration,
      obtain all such qualifications and comply with all such laws, rules and
      regulations as may be necessary to permit the sale, transfer and other
      disposition of the Registrable Shares by the Investor pursuant to the Mandatory
      Registration Statement. The Company shall notify the Investor in writing
      promptly (and in any event within three (3) Business Days) after the Company’s
      submission of an Acceleration Request to the SEC. The Company shall be required
      to keep the Mandatory Registration Statement and any qualification, exemption
      or
      compliance under state securities laws which the Company determines to obtain
      or
      which the Company obtains at the request of the Investor continuously effective
      (including through the filing of any required post-effective amendments) with
      respect to the Investor, and to keep such Registration Statement and related
      prospectus free of any material misstatements or omissions, until the earlier
      to
      occur of (i) the date after which all of the Registrable Shares registered
      thereunder shall have been sold or (ii) the date after which all of the
      Registrable Shares (excluding such Registrable Shares as are registered pursuant
      to any other effective Registration Statement) are freely tradable (without
      any
      volume limitations) by the Investor pursuant to Rule 144(k) promulgated under
      the Securities Act or any successor or substitute rule, law or provision.
      Thereafter, the Company shall be entitled to withdraw the Mandatory Registration
      Statement and, upon such withdrawal, the Investor shall have no further right
      to
      offer or sell any of the Registrable Shares pursuant to the Mandatory
      Registration Statement (or any prospectus relating thereto). Notwithstanding
      anything to the contrary contained herein, the Mandatory Registration Statement
      shall cover only the Registrable Shares, but the parties acknowledge that the
      Company may choose to include, at its option and solely for its convenience,
      the
      Registrable Shares on a registration statement with other similar securities,
      but only if to do so would not adversely affect the Initial
      Investor.

    

    (b) Notwithstanding
      anything in this Section 2 to the contrary, if the Company shall furnish to
      the
      Investor a certificate signed by the Chief Executive Officer of the Company
      stating that the Board has made the good faith determination (i) that the
      continued use by the Investor of the Mandatory Registration Statement for
      purposes of effecting offers or sales of Registrable Shares pursuant hereto
      would require, under the Securities Act and the rules and regulations
      promulgated thereunder, premature disclosure in the Mandatory Registration
      Statement (or the Prospectus relating thereto) of material, nonpublic
      information concerning the Company, its business or prospects or any proposed
      material transaction involving the Company, (ii) that such premature disclosure
      would be materially adverse to the Company, its business or prospects or any
      such proposed material transaction or would not be in the best interests of
      the
      Company and (iii) that it is therefore essential to suspend the use by the
      Investor, of the Mandatory Registration Statement (and the Prospectus relating
      thereto), then the right of the Investor to use the Mandatory Registration
      Statement (and the Prospectus relating thereto) for purposes of effecting offers
      or sales of Registrable Shares pursuant thereto shall be suspended for a period
      (the “Suspension
      Period”)
      not
      greater than fifteen (15) consecutive Business Days during any consecutive
      twelve (12) month period. During the Suspension Period, the Investor shall
      not
      offer or sell any Registrable Shares pursuant to or in reliance upon the
      Mandatory Registration Statement (or the Prospectus relating thereto). The
      Company agrees that, as promptly as possible, but in no event later than one
      (1)
      Business Day, after the consummation, abandonment or public disclosure of the
      event or transaction that caused the Company to suspend the use of the Mandatory
      Registration Statement (and the Prospectus relating thereto) pursuant to this
      Section 2(b), the Company will as promptly as possible lift any suspension,
      provide the Investor with revised Prospectuses, if required, and will notify
      the
      Investor of its ability to effect offers or sales of Registrable Shares pursuant
      to or in reliance upon the Mandatory Registration Statement.

    

    
      
        
        

      

      
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    (c) It
      shall
      be a condition precedent to the obligations of the Company to register
      Registrable Shares for the account of the Investor pursuant to this Section
      2 or
      Section 3 that the Investor furnish to the Company such information regarding
      itself, the Registrable Shares held by it, and the method of disposition of
      such
      securities as shall be required by the SEC to effect the registration of the
      Investor’s Registrable Shares. 

    

    (d) In
      the
      event that the Mandatory Registration Statement or other required registration
      statement is not declared effective by the SEC by the Mandatory Effective Date,
      or after its effective date, such Mandatory Registration Statement or such
      other
      required registration statement (as the case may be) ceases for any reason
      (including, without limitation, by reason of a stop order, or the Company’s
      failure to update such Mandatory Registration Statement or such other required
      registration statement (as the case may be)) to be effective and available
      to
      all holders as to all Registrable Shares to which it is required to cover at
      any
      time prior to the expiration of the effectiveness period set forth in Section
      2(a) above for greater than the Suspension Period as set forth above in Section
      2(b), then the Company shall pay the Investor as partial damages for such
      failure and not as a penalty the following amounts: one percent (1%) of the
      purchase price (as set forth in the Securities Purchase Agreement) for the
      first
      month after the Mandatory Effective Date; one and one-half percent (1.5%)
      commencing on the first day of the second month through the last day of the
      third month after the Mandatory Effective Date; two percent (2%) commencing
      on
      the first day of the fourth month through the last day of the fifth month after
      the Mandatory Effective Date; and thereafter a one-half percent (0.5%) increase
      each quarter (the “Partial
      Damages Amount”),
      each
      month for such time period beyond the Mandatory Effective Date that such
      registration statement is not effective or beyond any applicable Suspension
      Period (a “Penalty
      Period”)
      (for
      purposes of clarity, it is hereby understood and agreed that, solely for the
      purpose of this Section 2(d), the deemed purchase price for each Share is $1.20
      and the purchase price of each Warrant Share underlying each Unit shall be
      deemed to be equal to $0.30, provided that the dollar amounts set forth in
      this
      parenthetical clause shall be appropriately adjusted in the event of any
      adjustment, pursuant to the terms of the Warrants, in the exercise price of
      the
      Warrants or the number of shares issuable upon exercise of the Warrants);
      provided, however, that the amount payable to the Investor hereunder for any
      partial Penalty Period will not be pro-rated for the number of actual days
      during such Penalty Period during which a registration default remains uncured.
      Such payment of liquidated damages shall be made to the Investor within five
      (5)
      calendar days after the Penalty Period either, at the Investor’s option, (1) in
      cash or (2) in additional shares of Common Stock of the Company, such shares
      being valued at the average of the VWAPs of the Common Stock as reported by
      Bloomberg Financial L.P. (based on a trading day from 9:30 a.m. to 4:02 p.m.
      Eastern Time) using the VAP function over the 20 trading days immediately prior
      to the Mandatory Effective Date; provided, however, that the payment of such
      partial damages shall not relieve the Company from its obligations to register
      the Registrable Shares pursuant to this Agreement. If the Company fails to
      pay
      said cash payment to the Investor by the applicable date specified in the
      immediately preceding sentence, the Company will pay interest thereon at a
      rate
      of 12% per annum (or such lesser maximum amount that is permitted to be paid
      by
      applicable law) to the Investor, accruing daily from the date such partial
      damages are due until such amounts, plus all such interest thereon, are paid
      in
      full. The total amount of partial damages payable to the Investor pursuant
      to
      this Section 2(d), including any interest thereon, shall in no event exceed
      twenty five percent (25%) of the purchase price for the Units (as set forth
      in
      the Securities Purchase Agreement).

    

    
      
        
        

      

      
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    (e)
       During
      any Penalty Period, the Company shall not (i) file any other registration
      statement, (ii) file any amendment to any other registration statement, or
      (iii) request acceleration of the effective date of any other registration
      statement registering with the SEC any securities of the Company until the
      Company has cured the condition leading to such Penalty Period, unless such
      filing or request has been approved by the holders of a majority of the
      Registrable Shares; provided, however, that the foregoing shall not limit the
      Company’s right to file or request acceleration of the effective date of any
      other registration statements using Forms S-4 or S-8 or other applicable
      successor forms. 

    

    2A. DEMAND
      REGISTRATION RIGHTS.

    

    (a) If
      for
      any reason the SEC does not permit all of the Registrable Shares to be included
      in a Mandatory Registration Statement filed pursuant to Section 2, or for any
      other reason at any time any Registrable Shares are not able to be covered
      or
      resold pursuant to an effective Mandatory Registration Statement, and (i) Form
      SB-2 (or other equivalent or applicable form) is then available for the
      registration of such Registrable Shares and (ii) the Company shall receive
      from
      the Investor a written request or requests (a “Demand
      Notice”)
      that
      the Company effect a registration on Form SB-2 (or other equivalent or
      applicable form)(a “Demand
      Registration”),
      or
      any successor or substitute form, with respect to all or a part of the
      Registrable Shares owned by the Investor, then the Company will use its best
      efforts to effect such registration, as soon as practicable and in any event
      within thirty (30) days, of all or such portion of the Investor’s Registrable
      Shares as are specified in such request; provided,
      however,
      that
      the Company may temporarily suspended the use of such registration statement
      for
      the same reasons and on the same terms as described in Section 2(b) above.
      The
      Company shall not be required to effect more than three (3) registrations
      pursuant to this Section 2A(a) during any consecutive twelve (12) month period.
      

    

    
      
        
        

      

      
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    (b) It
      shall
      be a condition precedent to the obligations of the Company to register
      Registrable Shares for the account of the Investor pursuant to this Section
      2 or
      Section 3 that the Investor furnish to the Company such information regarding
      itself and the Registrable Shares held by it, and, if different from
Annex
      A,
      the
      method of disposition of such securities as shall be required to effect the
      registration of the Investor’s Registrable Shares. 

    

    3. “PIGGYBACK
      REGISTRATION”.
      

    

    (a) If
      at any
      time any Registrable Shares are not able to be resold pursuant to an effective
      Registration Statement, and the Company proposes to register any of its Common
      Stock under the Securities Act, whether as a result of an offering for its
      own
      account or the account of others (but excluding any registrations to be effected
      on Forms S-4 or S-8 or other applicable successor Forms), the Company shall,
      each such time, give to the Investor twenty (20) days’ prior written notice of
      its intent to do so, and such notice shall describe the proposed registration
      and shall offer the Investor the opportunity to register such number of
      Registrable Shares as the Investor may request. Upon the written request of
      the
      Investor given to the Company within twenty (20) days after the receipt of
      any
      such notice by the Company, the Company shall include in such Registration
      Statement all or part of the Registrable Shares of the Investor, to the extent
      requested to be registered. 

    

    (b) If
      a
      registration pursuant to Section 3 hereof involves an underwritten offering
      and
      the managing underwriter shall advise the Company in writing that, in its
      opinion, the number of shares of Common Stock requested by the Investor to
      be
      included in such registration is likely to affect materially and adversely
      the
      success of the offering or the price that would be received for any shares
      of
      Common Stock offered in such offering, then, notwithstanding anything in this
      Section 3 to the contrary, the Company shall only be required to include in
      such
      registration, to the extent of the number of shares of Common Stock which the
      Company is so advised can be sold in such offering, (i)
      first, the number of shares of Common Stock requested to be included in such
      registration for the account of any stockholders of the Company (including
      the
      Investor), pro rata among such stockholders on the basis of the number of shares
      of Common Stock that each of them has requested to be included in such
      registration, and (ii) second, any shares of Common Stock proposed to be
      included in such registration for the account of the Company.
      

    

    (c) In
      connection with any offering involving an underwriting of shares, the Company
      shall not be required under this Section 3 or otherwise to include the
      Registrable Shares of the Investor therein unless the Investor accepts and
      agrees to the terms of the underwriting, which shall be reasonable and
      customary, as agreed upon between the Company and the underwriters selected
      by
      the Company. 

    

    
      
        
        

      

      
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    4. OBLIGATIONS
      OF THE COMPANY.
      In
      connection with the Company’s registration obligations hereunder, the Company
      shall, as expeditiously as practicable: 

    

    (a)
       Use
      its
      best efforts diligently to prepare and file with the SEC a registration
      statement on the appropriate form under the Securities Act with respect to
      such
      securities, which form shall comply as to form in all material respects with
      the
      requirements of the applicable form and include all financial statements
      required by the SEC to be filed therewith, and use its best efforts to cause
      such registration statement to become and remain effective until completion
      of
      the proposed offering;

    

    (b) (i)
      Furnish to the Investor and the Investor’s counsel copies of all documents filed
      with the SEC relating to the registration of the Registrable Shares prior to
      being filed with the SEC (and in any event fifteen (15) Business Days prior
      to
      the filing), which documents shall be subject to the review of the Investor
      and
      the Investor’s counsel, (ii) use commercially reasonable efforts to cause its
      officers and directors, counsel and certified public accountants to respond
      to
      such inquiries as shall be necessary, in the reasonable opinion of the Investor,
      to conduct a reasonable investigation within the meaning of the Securities
      Act,
      and (iii) notify the Investor of any stop order issued or threatened by the
      SEC
      and use best efforts to prevent the entry of such stop order or to remove it
      if
      entered.

    

    (c) (i)
      Prepare and file with the SEC such amendments and supplements, including
      post-effective amendments, to each Registration Statement and the Prospectus
      used in connection therewith as may be necessary to comply with the Securities
      Act and to keep the Registration Statement continuously effective as required
      herein, and prepare and file with the SEC such additional Registration
      Statements as necessary to register for resale under the Securities Act all
      of
      the Registrable Shares (including naming any permitted transferees of
      Registrable Shares as selling stockholders in such Registration Statement);
      (ii)
      cause any related Prospectus to be amended or supplemented by any required
      Prospectus supplement, and as so supplemented or amended to be filed pursuant
      to
      Rule 424; (iii) respond as promptly as possible to any comments received from
      the SEC with respect to each Registration Statement or any amendment thereto
      and
      as promptly as possible provide the Investor true and complete copies of all
      correspondence from and to the SEC relating to the Registration Statement (other
      than correspondence containing material nonpublic information); and (iv) comply
      with the provisions of the Securities Act and the Exchange Act with respect
      to
      the disposition of all Registrable Shares covered by such Registration Statement
      as so amended or in such Prospectus as so supplemented. 

    

    (d) Notify
      the Investor and any underwriter as promptly as possible:

    

    (i)
      when
      the SEC notifies the Company whether there will be a “review” of a Registration
      Statement and whenever the SEC comments in writing on such Registration
      Statement; and (ii) when a Registration Statement, or any post-effective
      amendment or supplement thereto, has become effective, and after the
      effectiveness thereof: (A) of any request by the SEC or any other federal or
      state governmental authority for amendments or supplements to the Registration
      Statement or Prospectus or for additional information; (B) of the issuance
      by
      the SEC or any state securities commission of any stop order suspending the
      effectiveness of the Registration Statement covering any or all of the
      Registrable Shares or the initiation of any proceedings for that purpose; and
      (C) 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 Shares for sale in any jurisdiction, or the initiation or
      threatening of any proceeding for such purpose. Without limitation of any
      remedies to which the Investor may be entitled under this Agreement, if any
      of
      the events described in Section 4(d)(ii)(A), 4(d)(ii)(B), and 4(d)(ii)(C) occur,
      the Company shall use best efforts to respond to and correct the event.

    

    
      
        
        

      

      
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    (e) Notify
      the Investor and any underwriter as promptly as possible of the happening of
      any
      event as a result of which the Prospectus included in or relating to a
      Registration Statement contains an untrue statement of a material fact or omits
      any fact necessary to make the statements therein not misleading; and,
      thereafter, the Company will as promptly as possible prepare (and, when
      completed, give notice to the Investor) a supplement or amendment to such
      Prospectus so that, as thereafter delivered to the purchasers of such
      Registrable Shares, such Prospectus will not contain an untrue statement of
      a
      material fact or omit to state any fact necessary to make the statements therein
      not misleading; provided that upon such notification by the Company, the
      Investor will not offer or sell Registrable Shares pursuant to such Prospectus
      until the Company has notified the Investor that it has prepared a supplement
      or
      amendment to such Prospectus and delivered copies of such supplement or
      amendment to the Investor (it being understood and agreed by the Company that
      the foregoing proviso shall in no way diminish or otherwise impair the Company’s
      obligation to as promptly as possible prepare a Prospectus amendment or
      supplement as above provided in this Section 4(d) and deliver copies of same
      as
      provided in Section 4(i) hereof), and it being further understood that, in
      the
      case of the Mandatory Registration Statement, any such period during which
      the
      Investor is restricted from offering or selling Registrable Shares shall
      constitute a Suspension Period. 

    

    (f) Upon
      the
      occurrence of any event described in Section 4(e) hereof, as promptly as
      possible, prepare a supplement or amendment, including a post-effective
      amendment, to the 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 the 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 are made, not misleading. 

    

    (g) Use
      best
      efforts to avoid the issuance of or, if issued, obtain the withdrawal of, (i)
      any order suspending the effectiveness of any Registration Statement or (ii)
      any
      suspension of the qualification (or exemption from qualification) of any of
      the
      Registrable Shares for sale in any jurisdiction, as promptly as possible (it
      being understood that, in the case of the Mandatory Registration Statement,
      any
      period during which the effectiveness of the Mandatory Registration Statement
      or
      the qualification of any Registrable Shares is suspended shall constitute a
      Suspension Period). 

    

    (h) Furnish
      to the Investor, without charge, at least one conformed copy of each
      Registration Statement and each amendment thereto, and all exhibits to the
      extent requested by the Investor or its counsel (including those previously
      furnished or incorporated by reference) as promptly as possible after the filing
      of such documents with the SEC. 

    

    
      
        
        

      

      
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    (i) As
      promptly as possible furnish to the Investor and the underwriter, if any,
      without charge, such number of copies of a Prospectus, including a preliminary
      Prospectus, in conformity with the requirements of the Securities Act, and
      such
      other documents (including, without limitation, Prospectus amendments and
      supplements) as the Investor may reasonably request in order to facilitate
      the
      disposition of the Registrable Shares covered by such Prospectus and any
      amendment or supplement thereto. The Company hereby consents to the use of
      such
      Prospectus and each amendment or supplement thereto by the Investor in
      connection with the offering and sale of the Registrable Shares covered by
      such
      Prospectus and any amendment or supplement thereto to the extent permitted
      by
      federal and state securities laws and regulations. 

    

    (j) Use
      best
      efforts to register and qualify (or obtain an exemption from such registration
      and qualification) the Registrable Shares under such other securities or blue
      sky laws of the states of residence of the Investor and such other jurisdictions
      as the Investor shall reasonably request, to keep such registration or
      qualification (or exemption therefrom) effective during the periods each
      Registration Statement is effective, and do any and all other acts or things
      which may be reasonably necessary or advisable to enable the Investor to
      consummate the public sale or other disposition of Registrable Shares in such
      jurisdiction, provided that the Company shall not be required in connection
      therewith or as a condition thereto to qualify to do business or to file a
      general consent to service of process in any such states or jurisdictions where
      it is not then qualified or subject to process. 

    

    (k) Cooperate
      with the Investor to facilitate the timely preparation and delivery of
      certificates representing the Registrable Shares to be delivered to a transferee
      pursuant to a Registration Statement, which certificates shall be free, to
      the
      extent permitted by the Securities Purchase Agreement and applicable law, of
      all
      restrictive legends, and to enable such Registrable Shares to be in such
      denominations and registered in such names as the Investor may request.

    

    (l) Cooperate
      with any reasonable due diligence investigation undertaken by the Investor,
      any
      managing underwriter participating in any disposition pursuant to a Registration
      Statement, Investor’s counsel and any attorney, accountant or other agent
      retained by the Investor or any managing underwriter, in connection with the
      sale of the Registrable Shares, including, without limitation, making available
      any documents and information; provided, however, that the Company will not
      deliver or make available to the Investor material, nonpublic information unless
      the Investor specifically requests and consents in advance in writing to receive
      such material, nonpublic information and, if requested by the Company, the
      Investor agrees in writing to treat such information as
      confidential.

    

    (m) Furnish
      to each prospective selling holder a signed counterpart, addressed to the
      prospective selling holder, of (A) an opinion of counsel for the Company, dated
      the effective date of the registration statement, and (B) a “comfort” letter
      signed by the independent public accountants who have certified the Company’s
      financial statements included in the registration statement, covering
      substantially the same matters with respect to the registration statement (and
      the prospectus included therein) and (in the case of the accountants’ letter)
      with respect to events subsequent to the date of the financial statements,
      as
      are customarily covered (at the time of such registration) in opinions of the
      Company’s counsel and in accountants’ letters delivered to the underwriters in
      underwritten public offerings of securities.

    

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    (n) Cause
      the
      securities covered by such registration statement to be listed on the securities
      exchange or quoted on the quotation system on which the Common Stock of the
      Company is then listed or quoted (or if the Common Stock is not yet listed
      or
      quoted, then on such exchange or quotation system as the selling holders of
      Registrable Shares and the Company shall determine).

    

    (o) Otherwise
      use its best efforts to comply with all applicable rules and regulations of
      the
      SEC and make generally available to its security holders, in each case as soon
      as practicable, but not later than 30 days after the close of the period covered
      thereby, an earnings statement of the Company which will satisfy the provisions
      of Section 11(a) of the Securities Act and Rule 158 thereunder (or any
      comparable successor provisions).

    

    (p) Otherwise
      cooperate with the underwriter(s), the SEC and other regulatory agencies and
      take all actions and execute and deliver or cause to be executed and delivered
      all documents necessary to effect the registration of any securities under
      this
      Agreement.

    

    (q) During
      the period when the prospectus is required to be delivered under the Securities
      Act, promptly file all documents required to be filed with the SEC pursuant
      to
      Sections 13(a), 13(c), 14, or 15(d) of the Exchange Act.

    

    (r) At
      the
      request of an Affiliate of the Investor, the Company shall amend any
      Registration Statement to include such Affiliate as a selling stockholder in
      such Registration Statement. 

    

    (s) Comply
      with all applicable rules and regulations of the SEC in all material respects.
      

    

    5. EXPENSES
      OF REGISTRATION.
      The
      Company shall pay for all expenses incurred in connection with a registration
      pursuant to this Agreement and compliance with Section 4 of this Agreement,
      including without limitation (i) all registration, filing and qualification
      fees
      and expenses (including without limitation those related to filings with the
      SEC, The Nasdaq Stock Market or any national securities exchange (including
      The
      American Stock Exchange) upon which the Company’s securities are at such time
      listed and in connection with applicable state securities or blue sky laws),
      (ii) all printing expenses, (iii) all messenger, telephone and delivery expenses
      incurred by the Company, (iv) all fees and disbursements of counsel for the
      Company, and (v) all 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, the expense of any annual audit
      and
      audits of any significant acquisitions required to be included in the applicable
      registration statement.

    

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    6. DELAY
      OF REGISTRATION.
      Subject
      to Section 12(f) hereof, the Investor and the Company (other than with respect
      to Section 4(e) hereof) shall not take any action to restrain, enjoin or
      otherwise delay any registration as the result of any controversy which might
      arise with respect to the interpretation or implementation of this Agreement.
      

    

    7. INDEMNIFICATION.
      In the
      event that any Registrable Shares are included in a Registration Statement
      pursuant to this Agreement: 

    

    (a) To
      the
      fullest extent permitted by law, the Company will indemnify and hold harmless
      the Investor and each officer, director, fiduciary, agent, investment advisor,
      employee, member (or other equity holder), general partner and limited partner
      (and affiliates thereof) of the Investor, each broker, underwriter or other
      person acting on behalf of the Investor and each person, if any, who controls
      the Investor within the meaning of the Securities Act, against any losses,
      claims, damages or liabilities, joint or several, (the “Losses”)
      to
      which they may become subject under the Securities Act or otherwise, insofar
      as
      such Losses (or actions in respect thereof) arise out of or relate to any untrue
      or alleged untrue statement of any material fact contained in the Registration
      Statement, or arise out of or relate to the omission or alleged omission to
      state therein a material fact required to be stated therein, or necessary to
      make the statements therein not misleading, or any violation by the Company
      of
      the Securities Act or state securities or blue sky laws applicable to the
      Company and leading to action or inaction required of the Company in connection
      with such registration or qualification under such Securities Act or state
      securities or blue sky laws; and, subject to the provisions of Section 7(c)
      hereof, the Company will reimburse on demand the Investor, such broker or other
      person acting on behalf of the Investor or such officer, director, fiduciary,
      employee, member (or other equity holder), manager, general partner, limited
      partner, affiliate or controlling person for any legal or other expenses
      reasonably incurred by any of them in connection with investigating or defending
      any such loss, claim, damage, liability or action; provided, however, that
      the
      indemnity agreement contained in this Section 7(a) shall not apply to amounts
      paid in settlement of any such Losses if such settlement is effected without
      the
      consent of the Company (which consent shall not be unreasonably withheld),
      nor
      shall the Company be liable in any such case for any such loss, damage,
      liability or action to the extent that it solely arises out of or is solely
      based upon an untrue statement of any material fact contained in the
      Registration Statement or omission to state therein a material fact required
      to
      be stated therein or necessary to make the statements therein not misleading,
      in
      each case to the extent that such untrue statement or alleged untrue statement
      or omission or alleged omission was made in the Registration Statement, in
      reliance upon and in conformity with written information furnished by the
      Investor with respect to the Investor expressly for use in connection with
      such
      Registration Statement. 

    

    (b) To
      the
      fullest extent permitted by law, the Investor will indemnify and hold harmless
      the Company, each of its directors, each of its officers who have signed the
      Registration Statement and each person, if any, who controls the Company within
      the meaning of the Securities Act against any Losses to which the Company or
      any
      such director, officer or controlling person may become subject to, under the
      Securities Act or otherwise, insofar as such Losses (or actions in respect
      thereto) solely arise out of or are solely based upon any untrue statement
      of
      any material fact contained in the Registration Statement, or solely arise
      out
      of or solely relate to the omission to state therein a material fact required
      to
      be stated therein or necessary to make the statements therein not misleading,
      in
      each case to the extent (but only to the extent) that such untrue statement
      or
      alleged untrue statement or omission or alleged omission was made in the
      Registration Statement in reliance upon and in conformity with written
      information furnished by the Investor with respect to the Investor expressly
      for
      use in connection with such Registration Statement; and, subject to the
      provisions of Section 7(d) hereof, the Investor will reimburse on demand any
      legal or other expenses reasonably incurred by the Company or any such director,
      officer, or controlling person in connection with investigating or defending
      any
      such Losses, provided, however, that the maximum aggregate amount of liability
      of the Investor under this Section 7 shall be limited to the proceeds (net
      of
      underwriting discounts and commissions, if any) actually received by the
      Investor from the sale of Registrable Shares covered by such Registration
      Statement; and provided, further, however, that the indemnity agreement
      contained in this Section 7(b) or 7(e) shall not apply to amounts paid in
      settlement of any such Losses if such settlement is effected without the consent
      of the Investor (which consent shall not be unreasonably withheld), and that
      the
      Investor shall not be required to indemnify any Person against any liability
      arising from any untrue or misleading statement or omission contained in any
      preliminary prospectus if such deficiency is corrected in the final prospectus
      or for any liability which arises out of the failure of any Person to deliver
      a
      prospectus if required by the Securities Act. 

    

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    (c) As
      promptly as possible after receipt by an indemnified party under this Section
      7
      of notice of the threat, assertion or commencement of any action, such
      indemnified party will, if a claim in respect thereof is to be made against
      any
      indemnifying party under this Section 7, notify the indemnifying party in
      writing of the commencement thereof and the indemnifying party shall have the
      right to participate in and, to the extent the indemnifying party desires,
      jointly with any other indemnifying party similarly noticed, to assume at its
      expense the defense thereof with counsel mutually satisfactory to the parties;
      provided, however, that, the failure to notify an indemnifying party promptly
      of
      the threat, assertion or commencement of any such action shall not relieve
      such
      indemnifying party of any liability to the indemnified party under this Section
      7 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 proximately and materially
      adversely prejudiced the indemnifying party. 

    

    (d) If
      any
      indemnified party shall have reasonably concluded that there may be one or
      more
      legal defenses available to such indemnified party which are different from
      or
      additional to those available to the indemnifying party, that such claim or
      litigation involves or could have an effect upon matters beyond the scope of
      the
      indemnity agreement provided in this Section 7 or that legal counsel selected
      by
      the indemnifying party is not reasonably satisfactory to the indemnified party,
      the indemnifying party shall not have the right to assume the defense of such
      action on behalf of such indemnified party, and such indemnifying party shall
      reimburse such indemnified party and any person controlling such indemnified
      party for the fees and expenses of counsel retained by the indemnified party
      which are reasonably related to the matters covered by the indemnity agreement
      provided in this Section 7. Subject to the foregoing, an indemnified party
      shall
      have the right to employ separate counsel in any such action and to participate
      in the defense thereof but the fees and expenses of such counsel shall not
      be at
      the expense of the indemnifying party. 

    

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    (e) If
      the
      indemnification provided for in this Section 7 from the indemnifying party
      is
      applicable by its terms but unavailable to an indemnified party hereunder in
      respect of any Losses, then the indemnifying party, in lieu of indemnifying
      such
      indemnified party, shall, subject to the maximum aggregate liability of the
      Investor as set forth in Section 7(b) if the Investor is the indemnifying party,
      contribute to the amount paid or payable by such indemnified party as a result
      of such losses, claims, damages, liabilities or expenses in such proportion
      as
      is appropriate to reflect the relative fault of the indemnifying party and
      indemnified party in connection with the actions which resulted in such losses,
      claims, damages, liabilities or expenses, as well as any other relevant
      equitable considerations. The relative faults 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 to state a material fact,
      has
      been 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. The amount paid
      or payable by a party as a result of the losses, claims, damages, liabilities
      and expenses referred to above shall be deemed to include, subject to the
      limitations set forth in Sections 7(a), 7(b), 7(c) and 7(d), any legal or other
      fees, charges or expenses reasonably incurred by such party in connection with
      any investigation or proceeding. No person guilty of fraudulent
      misrepresentation (within the meaning of Section 11(f) of the Securities Act)
      shall be entitled to contribution from any person. The parties hereto agree
      that
      it would not be just and equitable if contribution pursuant to this Section
      7(e)
      were determined by pro rata allocation or by any other method of allocation
      which does not take account of the equitable considerations referred to in
      the
      immediately preceding paragraph. 

    

    (f) The
      indemnity and contribution agreements contained in this Section are in addition
      to any liability that any indemnifying party may have to any indemnified party.
      

    

    8. REPORTS
      UNDER THE EXCHANGE ACT.
      With a
      view to making available to the Investor the benefits of Rule 144 and any other
      rule or regulation of the SEC that may at any time permit the Investor to sell
      the Registrable Shares to the public without registration, the Company agrees
      to
      use best efforts to: (i) make and keep public information available, as those
      terms are understood and defined in Rule 144, (ii) file with the SEC in a timely
      manner all reports and other documents required to be filed by an issuer of
      securities registered under the Securities Act or the Exchange Act; (iii) as
      long as the Investor owns any Shares, Warrants or Warrant Shares to furnish
      in
      writing upon the Investor’s request a written statement by the Company that it
      has complied with the reporting requirements of Rule 144 and of the Securities
      Act and the Exchange Act, and to furnish to the Investor a copy of the most
      recent annual and quarterly reports of the Company, and such other reports
      and
      documents so filed by the Company as may be reasonably requested in availing
      the
      Investor of any rule or regulation of the SEC permitting the selling of any
      such
      Shares, Warrants or Warrant Shares without registration, and (iv) undertake
      any
      additional actions reasonably necessary to maintain the availability of a
      Registration Statement, including any successor or substitute forms, or the
      use
      of Rule 144. 

    

    9. TRANSFER
      OF REGISTRATION RIGHTS.
      The
      Investor may assign or transfer any or all of its rights under this Agreement
      to
      any Person, provided such assignee or transferee agrees in writing to be bound
      by the provisions hereof that apply to the Investor. Upon any such, and each
      successive, assignment or transfer to any permitted assignee or transferee
      in
      accordance with the terms of this Section 9, such permitted assignee or
      transferee shall be deemed to be the “Investor” for all purposes of this
      Agreement. 

    

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    10. ADDITIONAL
      ISSUANCE.
      The
      Company’s issuance of additional capital stock and other securities of the
      Company shall be limited pursuant to the additional issuance restrictions set
      forth in Section 6.6 of the Securities Purchase Agreement. 

    

    11. ENTIRE
      AGREEMENT.
      This
      Agreement constitutes and contains the entire agreement and understanding of
      the
      parties with respect to the subject matter hereof, and it also supersedes any
      and all prior negotiations, correspondence, agreements or understandings with
      respect to the subject matter hereof. 

    

    12. MISCELLANEOUS.
      

    

    (a) This
      Agreement, and any right, term or provision contained herein, may not be
      amended, modified or terminated, and no right, term or provision may be waived,
      except with the written consent of the Investor and the Company.

    

    (b) This
      Agreement shall be governed by and construed and enforced in accordance with
      the
      laws of the State of New York without regard to the principles of conflicts
      of
      law. This Agreement shall be binding upon the parties hereto and their
      respective heirs, personal representatives, successors and permitted assigns
      and
      transferees, provided that the terms and conditions of Section 9 hereof are
      satisfied. Notwithstanding anything in this Agreement to the contrary, if at
      any
      time the Investor (including any successors or assigned) shall cease to own
      any
      Registrable Shares, all of the Investor’s rights under this Agreement shall
      immediately terminate. 

    

    (c) Each
      party hereby irrevocably and unconditionally (i) agrees that any suit, action
      or
      other legal proceeding arising out of this Agreement shall be brought in a
      state
      court located in New York, New York; (ii) consents to the jurisdiction of any
      such court in any suit, action or proceeding; and (iii) waives any objection
      which such party may have to the laying of venue of any such suit, action or
      proceeding in any such court.

    

    (d) Each
      of
      the Company and the Investor hereby waives any right to a trial by jury in
      any
      lawsuit, action, claim or proceeding to enforce or defend any right under this
      Agreement or any amendment, instrument, document or agreement delivered or
      to be
      delivered in connection with this Agreement and agrees that any lawsuit, action,
      claim or proceeding will be tried before a court and not before a
      jury.

    

    (e) Any
      notices to be given pursuant to this Agreement shall be in writing and shall
      be
      given by certified or registered mail, return receipt request. Notices shall
      be
      deemed given when personally delivered or when mailed to the addresses of the
      respective parties as set forth on Exhibit
      A
      or
Schedule
      1
      hereto,
      as applicable, or to such changed address of which any party may notify the
      others pursuant hereto, except that a notice of change of address shall be
      deemed given when received. An electronic communication (“Electronic
      Notice”)
      shall
      be deemed written notice for purposes of this Section 12(e) if sent with return
      receipt requested to the electronic mail address specified by the receiving
      party on Exhibit
      A
      or
Schedule
      1
      hereto,
      as applicable. Electronic Notice shall be deemed received at the time the party
      sending Electronic Notice receives verification of receipt by the receiving
      party.

    

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

    (f)
       Upon
      the
      request of the Investor delivered to the Company in compliance with Section
      12(e), the Company shall provide to counsel for the Investor (i) any
      notices required to be provided to the Investor pursuant to this Agreement
      and
      (ii) copies of any documents required to be delivered to the Investor
      pursuant to this Agreement, including, without limitation, any notice required
      to be given to the Investor under Sections 4(d) and 4(e) and any documents
      required to be delivered to the Investor under Sections 4(h) and 4(i).

    

    (g) The
      parties acknowledge and agree that in the event of any breach of this Agreement,
      in addition to other rights granted under this Agreement or at law, each of
      the
      parties hereto shall be entitled to specific performance of the obligations
      of
      the other parties hereto and to such appropriate injunctive relief as may be
      granted by a court of competent jurisdiction. All remedies, either under this
      Agreement or by law or otherwise afforded to any of the parties, shall be
      cumulative and not alternative. 

    

    (h) This
      Agreement may be executed in a number of counterparts. All such counterparts
      together shall constitute one Agreement, and shall be binding on all the parties
      hereto notwithstanding that all such parties have not signed the same
      counterpart. The parties hereto confirm that any facsimile copy of another
      party’s executed counterpart of this Agreement (or its signature page thereof)
      will be deemed to be an executed original thereof. 

    

    (i) Except
      as
      contemplated in Section 9 hereof, this Agreement is intended solely for the
      benefit of the parties hereto and is not intended to confer any benefits upon,
      or create any rights in favor of, any Person (including, without limitation,
      any
      stockholder or debt holder of the Company) other than the parties hereto.

    

    (j) If
      any
      provision of this Agreement is invalid, illegal or unenforceable, such provision
      shall be ineffective to the extent, but only to the extent of, such invalidity,
      illegality or unenforceability, without invalidating the remainder of such
      provision or the remaining provisions of this Agreement, unless such a
      construction would be unreasonable. 

    

    (k) This
      Agreement shall be binding upon, and inure to the benefit of, the parties hereto
      and their permitted successors and assigns. 

    

    [Signature
      Pages Follow]

    

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

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

    

    

      
        	 	
                GRAN
                  TIERRA ENERGY INC.

              
	 	 	 
	 	
                By:

              	
                /s/
                  Dana Coffield 

              
	 	 	
                President
                  and Chief Executive Officer

              
	 	 	 
	 	 	 
	 	 	 
	 	
                CD
                  INVESTMENT PARTNERS, LTD.

              
	 	 	 
	 	
                By:

              	
                CD
                  Capital Management, LLC

              
	 	
                Its:

              	
                Investment
                  Manager

              
	 	 	 
	 	
                By:

              	
                /s/
                  John Ziegelman 

              
	 	
                Its:

              	
                President

              

      

    

    

    

    
      
        
        

      

      
        16Unassociated Document

    EXHIBIT
      10.26

     

    Lock-Up
      Letter

    

    Gran
      Tierra Energy Inc.

    Private
      Placement of Common Stock

     

    June
      20,
      2006

     

    

     

    Sanders
      Morris Harris Inc.

    600
      Travis, Suite 3100

    Houston,
      Texas 77002

    

    

    Ladies
      and Gentlemen:

     

    This
      letter is being delivered to you in connection with the Placement Agent
      Agreement (the “Agreement”), between Gran Tierra Energy Inc., a Nevada
      corporation (the “Company”), and you as a Placement Agent in connection with a
      private placement of Units (“Units”), each Unit including one share of Common
      Stock, $0.001 par value (the “Common Stock”), of the Company and a warrant to
      acquire one-half of a share of Common Stock at an exercise price equal to
      $0.875.

     

    In
      order
      to induce you as Placement Agent to enter into the Agreement, and certain
      investors in the private placement contemplated thereby or to be closed
      concurrently therewith to purchase the Units (the “Private Placements”), the
      undersigned will not, without the prior written consent of Sanders Morris Harris
      Inc., offer, sell, contract to sell, pledge or otherwise dispose of, (or enter
      into any transaction which is designed to, or might reasonably be expected
      to,
      result in the disposition (whether by actual disposition or effective economic
      disposition due to cash settlement or otherwise) by the undersigned or any
      affiliate of the undersigned or any person in privity with the undersigned
      or
      any affiliate of the undersigned), directly or indirectly, or establish or
      increase a put equivalent position or liquidate or decrease a call equivalent
      position within the meaning of Section 16 of the Securities Exchange Act of
      1934, as amended, and the rules and regulations of the Securities and Exchange
      Commission promulgated thereunder with respect to, any shares of capital stock
      of the Company or any securities convertible into or exercisable or exchangeable
      for such capital stock, or publicly announce an intention to effect any such
      transaction, for a period ending on the later of (i) 180 days after the date
      of
      the closing of the private placement as contemplated by the Agreement and (ii)
      the
      effective date of a registration statement covering the resale of the Units
      in
      accordance with
      the
      Registration Rights Agreements executed by the Company and the purchasers in
      the
      Private Placements, other than shares of Common Stock disposed of as a bona
      fide
      gift or gifts, provided that the donee or donees thereof agrees in writing
      to be
      bound by the terms of this letter.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    If
      for
      any reason the Agreement shall be terminated prior to the Closing Date (as
      defined in the Agreement) and all funds held in escrow are released from escrow
      accounts to the investors in the Private Placements, the agreement set forth
      above shall likewise be terminated.

     

    
      	 	 	Yours very truly, 
	 	 	 
	 	 	/s/ Dana
              Coffield                        
               
	 	 	Dana Coffield 
	 	 	 
	 	 	/s/ James
              Hart                             
               
	 	 	James Hart 
	 	 	 
	 	 	/s/ Max
              Wei                               
               
	 	 	Max Wei 
	 	 	 
	 	 	/s/ Rafael
              Orunesu                    
               
	 	 	Rafael Orunesu 
	 	 	 
	 	 	/s/ Jeffrey
              Scott                         
               
	 	 	Jeffrey Scott 
	 	 	 
	 	 	/s/ Walter
              Dawson                   
               
	 	 	Walter Dawson  
	 	 	 
	 	 	/s/ Verne
              Johnson                    
               
	 	 	Verne Johnson 
	 	 	 
	 	 	/s/ Nadine C.
              Smith                  
               
	 	 	Nadine C.
              Smith

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