Document:

REGISTRATION RIGHTS AGREEMENT

      This Registration Rights Agreement is made and entered into as of June 30,
2004 (the "Effective Date"), by and between AssuranceAmerica Corporation, a
Nevada corporation (the "Company"), and certain holders of the Series A
Convertible Preferred Stock (the "Series A Preferred Stock") of the Company as
set forth on Schedule I hereto.

      WHEREAS, certain shareholders of the Company have acquired shares of
Series A Preferred Stock; and

      WHEREAS, the Company has agreed to grant to such shareholders the rights
and benefits provided herein.

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

      1. Certain Definitions. As used in this Agreement, the following terms
shall have the following respective meanings:

            (a) "Commission" shall mean the Securities and Exchange Commission
      or any other federal agency at the time administering the Securities Act.

            (b) "Common Stock" shall mean the Company's $0.01 par value common
      stock or such other voting equity securities of the Company or any
      successor thereto as the holders of Common Stock shall receive or be
      entitled to receive as a result of any recapitalization, merger or
      combination, or other like transaction affecting the Company or its
      securities.

            (c) "Exchange Act" shall mean the Securities Exchange Act of 1934,
      as amended, or any similar federal statute, and the rules and regulations
      of the Commission issued under such Act, as they each may, from time to
      time, be in effect.

            (d) "Holder" shall mean each shareholder listed on Schedule I hereto
      so long as such shareholder holds at least 25% of the Shares originally
      purchased by such shareholder and any transferee of such shareholder so
      long as such transferee holds at least 1% of the outstanding capital stock
      of the Company and provided such transferee agrees in writing with the
      Company to hold such stock subject to all the restrictions of this
      Agreement. Additional Holders (other than any such transferee) may be
      added as parties hereto only with the written consent of the Company by
      execution of a counterpart signature page hereto.

            (e) "Registrable Securities" shall mean (i) the shares of Common
      Stock issued or issuable upon conversion of the Shares as provided in the
      Company's Articles of Incorporation, as hereafter amended, and, and (ii)
      any securities issued as a dividend or other distribution with respect to,
      or in exchange or in replacement of, the securities referred to in
      subsection (k).

            (f) "Registration Expenses" shall mean all expenses (except for
      "Selling Expenses" as defined below) incurred by the Company in complying
      with Sections 2 or 3 of this Agreement, including, without limitation, all
      registration and filing fees, printing

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      expenses, road show expenses, fees and disbursements of counsel for the
      Company and, the fees and disbursements of one counsel for the selling
      Holders.

            (g) The terms "register", "registered" and "registration" shall
      refer to a registration effected by preparing and filing a Registration
      Statement under the Securities Act, and the declaration or ordering of the
      effectiveness of such Registration Statement.

            (h) "Registration Statement" shall mean a registration statement on
      Form S-1 or Form S-3 (or successor form) filed by the Company with the
      Commission for a public offering and sale of securities of the Company.

            (i) "Securities Act" shall mean the Securities Act of 1933, as
      amended, or any similar federal statute, and the rules and regulations of
      the Commission issued under such Act, as they each may, from time to time,
      be in effect.

            (j) "Selling Expenses" shall mean all underwriting discounts and
      selling commissions applicable to the sale of Registrable Securities
      pursuant to Sections 2 or 3.

            (k) "Shares" shall mean the shares of Series A Convertible Stock of
      the Company outstanding on the date hereof.

      2. Required Registrations.

            (a) If at any time prior to three years following the Effective
      Date, the Company shall be requested in writing by the Holder(s) of at
      least 50% of the outstanding shares of Registrable Securities to effect
      the registration under the Securities Act of outstanding shares of
      Registrable Securities having an anticipated selling price (i.e.,
      aggregate gross proceeds) of no less than $5,000,000, the Company shall
      promptly give written notice of such proposed registration to all record
      Holders of Registrable Securities. Such Holders shall have the right, by
      giving written notice to the Company within 30 days from receipt of the
      Company's notice, to elect to include in such registration such of their
      Registrable Securities as such Holders may request in such notice of
      election. Thereupon, the Company shall, as expeditiously as practicable,
      use its best efforts to effect the registration, on a form of general use
      under the Securities Act, of all shares of Registrable Securities which
      the Company has been requested to register. The Company shall not be
      obligated to cause to become effective more than one registration
      statement pursuant to which Registrable Securities are sold under this
      Section 2(a).

            Notwithstanding the foregoing, if the Company shall furnish to the
      Holders of Registrable Securities requesting registration pursuant to this
      Section 2(a) a certificate signed by the President of the Company stating
      that the Board has made the good faith judgment that it would be
      materially detrimental to the Company and its stockholders for such
      registration statement to become effective or to remain effective as long
      as such registration statement would otherwise be required to remain
      effective because such action (x) would materially interfere with a
      significant acquisition, corporate reorganization or other similar
      transaction involving the Company, (y) would require premature disclosure
      of material information that the Company has a bona fide business purpose
      for preserving as confidential or (z) would render the Company unable to
      comply with requirements under the Securities Act or Exchange Act, the
      Company shall have the right to defer taking action with respect to such
      filing for a period of not more than ninety

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      (90) days after receipt of the request of the Holders; provided, however,
      that the Company may not utilize this right more than once in any
      twelve-month period and provided further that the Company shall not
      register any securities for the account of itself or any other stockholder
      during such ninety (90) day period other than a registration relating
      solely to employee benefit plans, or a registration relating solely to a
      Commission Rule 145 transaction or any Rule adopted by the Commission in
      substitution therefor or in amendment thereto, or a registration on any
      registration form which does not include substantially the same
      information as would be required to be included in a Registration
      Statement covering the sale of Registrable Securities.

            (b) The Company may include in a registration requested under this
      Section 2: (i) any authorized but unissued shares of Common Stock for sale
      by the Company, and (ii) any shares of its Common Stock held by employees,
      consultants, directors or other advisers of the Company and with respect
      to which registration rights have been granted by the Company ("Management
      Stock"); provided, however, that such shares shall not be included to the
      extent that the underwriter of the shares so proposed to be registered (if
      the offering is underwritten) or, if the offering is not underwritten, the
      Holders of a majority of the shares of Registrable Securities included
      therein determine in good faith that the inclusion of such shares will
      interfere with the successful marketing of the shares of Registrable
      Securities to be included therein. If the offering to which a Registration
      Statement under this Section 2 relates is an underwritten offering, and
      if, after all shares of Common Stock proposed to be offered by the Company
      and all such shares of Management Stock have been excluded from such
      registration, a greater number of shares of Registrable Securities is
      offered for participation in such underwriting than in the opinion of the
      managing underwriter can be accommodated without adversely affecting the
      underwriting, the amount of Registrable Securities proposed to be offered
      in the underwriting shall be reduced, pro-rata (based upon the amount of
      Registrable Securities owned) among all Holders participating in such
      registration, to a number deemed satisfactory by the managing underwriter.

      3. Incidental Registrations.

            (a) If at any time or from time to time (but prior to the expiration
      of three years from the Effective Date) the Company shall determine to
      register any of its Common Stock, for its own account or for the account
      of any of its shareholders (other than the Holders), other than a
      registration relating solely to employee benefit plans, or a registration
      relating solely to a Commission Rule 145 transaction or any Rule adopted
      by the Commission in substitution therefor or in amendment thereto, or a
      registration on any registration form which does not include substantially
      the same information as would be required to be included in a Registration
      Statement covering the sale of Registrable Securities, the Company will:

                  (i)   promptly give to each Holder written notice thereof
                        (which shall include a list of the jurisdictions in
                        which the Company intends to attempt to qualify such
                        securities under the applicable Blue Sky or other state
                        securities laws); and

                  (ii)  include in such registration (and any related
                        qualification under Blue Sky laws or other compliance),
                        and in any underwriting involved therein, all of the
                        Registrable Securities and Management Stock specified in
                        a written request or requests

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<PAGE>

                        received by the Company within twenty (20) days after
                        the giving of such written notice by the Company, by any
                        Holder or Holders, subject to the limitations set forth
                        in Section 3(b).

            (b) If the registration of which the Company gives notice is for a
      registered public offering involving an underwritten public offering, the
      Company shall so advise the Holders as a part of the written notice given
      pursuant to Section 3(a)(i). All Holders proposing to include their
      securities in such underwritten public offering shall (together with the
      Company and the other Holders distributing their securities through such
      underwritten public offering) enter into an underwriting agreement in form
      reasonably acceptable to such Holders with the underwriter or underwriters
      selected for such underwritten public offering by the Company.
      Notwithstanding any other provision of this Section 3, if the underwriter
      determines in good faith that marketing factors require a limitation of
      the number of shares to be underwritten, all shares to be sold by the
      Company shall be included in such offering before any Registrable
      Securities are so included, and further, the underwriter otherwise may
      limit the number of Registrable Securities to be included in the
      registration and underwritten public offering. The Company shall so advise
      all Holders of such limitation (except those Holders who have not elected
      to distribute any of their Registrable Securities through such
      underwritten public offering), and the number of shares of Registrable
      Securities and shares of Management Stock that may be included in the
      registration and underwritten public offering shall be allocated first
      among such Holders in proportion, as nearly as practicable, to the
      respective amounts of Registrable Securities owned by such Holders at the
      time of filing the Registration Statement, and second to the holders of
      Management Stock. No Registrable Securities or shares of Management Stock
      excluded from the underwritten public offering by reason of the
      underwriter's marketing limitation shall be included in such registration.
      If the terms of any such underwritten public offering differ materially
      from the terms (including range of offering price) previously communicated
      to any Holder, such Holder may elect to withdraw therefrom by written
      notice to the Company and the underwriter, which notice, to be effective,
      must be received by the Company at least two (2) business days before the
      anticipated effective date of the Registration Statement. The Registrable
      Securities and/or other securities so withdrawn from such underwritten
      public offering shall also be withdrawn from such registration; provided,
      however, that if by the withdrawal of such Registrable Securities a
      greater number of Registrable Securities held by other selling Holders may
      be included in such registration (up to the maximum of any limitation
      imposed by the underwriters) then the Company shall include in such
      registration in place of such withdrawn Registrable Securities such
      additional Registrable Securities held by other selling Holders whose
      Registrable Securities were excluded pursuant to limitation by the
      underwriter pursuant to this Section 3(b) in the same proportion as such
      Registrable Securities were excluded pursuant to such underwriter
      limitation (with no more Registrable Securities being so included than
      were withdrawn). In the event that the contemplated sale does not involve
      an underwritten public offering and a determination that the inclusion of
      the Registrable Securities adversely affects the marketing of the shares
      shall be made by the Board of Directors of the Company in its good faith
      discretion, then no Registrable Securities are required hereby to be
      included in the contemplated sale.

            (c) The Company may at any time withdraw or abandon any Registration
      Statement which triggers the provisions of this Section 3 without any
      liability to the Holders.

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            4. Expenses of Registration. All Registration Expenses incurred in
connection with any registration, qualification and compliance hereunder shall
be paid by the Company. All Selling Expenses incurred in connection with any
such registration shall be paid by the selling Holders on a pro rata basis. If,
notwithstanding this Agreement, applicable authorities in any state wherein
Registrable Securities are to be sold require an allocation of Registration
Expenses, each Holder agrees to pay its apportioned share thereof.

            5. Registration Procedures. In the case of each registration,
qualification or compliance effected by the Company pursuant to this Agreement,
the Company will keep each Holder advised in writing as to the initiation of
each registration, qualification and compliance and as to the completion
thereof. At its expense the Company will:

            (a) prepare and file with the Commission a Registration Statement
      with respect to such Registrable Securities, and use its best efforts in
      good faith to cause such Registration Statement to become and remain
      effective as provided herein;

            (b) prepare and file with the Commission such amendments and
      supplements to such Registration Statement and the prospectus included in
      such Registration Statement as may be necessary or advisable to comply
      with the provisions of the Securities Act with respect to the disposition
      of all securities covered by such Registration Statement or as may be
      necessary to keep such Registration Statement effective and current, but
      for no longer than six (6) months subsequent to the effective date of such
      registration;

            (c) furnish to each selling Holder such number of copies of such
      Registration Statement, each amendment and supplement thereto (in each
      case including all exhibits thereto), the prospectus included in such
      Registration Statement (including each preliminary prospectus), and such
      other documents as any such selling Holder may reasonably request in order
      to facilitate the disposition of the Registrable Securities held by such
      selling Holder;

            (d) enter into such customary agreements and take all such other
      action in connection therewith as any selling Holder may reasonably
      request in order to expedite or facilitate the disposition of such
      Registrable Securities;

            (e) use its best efforts in good faith to register and qualify the
      Registrable Securities covered by such Registration Statement under such
      securities or Blue Sky laws of such jurisdictions as any selling Holder on
      behalf of itself or any other selling Holder shall reasonably request and
      do any and all such other acts and things as may be reasonably necessary
      or advisable to enable such selling Holder to consummate the disposition
      in such jurisdictions of the Registrable Securities held by such selling
      Holder; provided, however, that the Company shall not be required in
      connection therewith to qualify to do business or file a general consent
      to service of process in any such jurisdiction unless the Company is
      already subject to service in such jurisdiction and except as may be
      required by the Securities Act nor shall the Company be required to take
      any position or change in accounting methods in order to effect such
      registration if the Board of Directors determines in good faith that the
      same would be materially detrimental to the Company;

            (f) furnish, at the request of any Holder of Registrable Securities,
      on the date that such shares of Registrable Securities are delivered to
      the underwriters for sale pur-

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<PAGE>

      suant to such registration or, if such Registrable Securities are not
      being sold through underwriters, on the date that the registration
      statement with respect to such shares of Registrable Securities becomes
      effective, (1) an opinion, dated such date, of the counsel representing
      the Company for the purposes of such registration, addressed to the
      underwriters, if any, and if such Registrable Securities are not being
      sold through underwriters, then to the Holders making such request, in
      customary form and covering matters of the type customarily covered in
      such legal opinions; and (2) a comfort letter dated such date, from the
      independent certified public accountants of the Company, addressed to the
      underwriters, if any, and if such Registrable Securities are not being
      sold through underwriters, then to the Holder making such request and, if
      such accountants refuse to deliver such letter to such Holder, then to the
      Company, in a customary form and covering matters of the type customarily
      covered by such comfort letters and as the underwriters or such Holder
      shall reasonably request;

            (g) otherwise use its best efforts to comply with all applicable
      rules and regulations of the Commission, and make available to its
      security holders, as soon as reasonably practicable, but not later than
      eighteen (18) months after the effective date of the Registration
      Statement, an earnings statement covering the period of at least twelve
      (12) months beginning with the first full month after the effective date
      of such registration statement, which earnings statement shall satisfy the
      provisions of Section 11(a) of the Securities Act;

            (h) cooperate reasonably with any managing underwriter to effect the
      sale of Registrable Securities, including but not limited to attendance of
      the Company's executive officers at any planned "road show" presentations
      to the extent that such attendance does not unduly impact the performance
      of such officer's duties;

            (i) notify the Holders and the underwriter(s), if any, at any time
      when the offering documents 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 at the request of the Holders or any
      underwriter, prepare and furnish to such person(s) such reasonable number
      of copies of any amendment or supplement to the offering documents as may
      be necessary so that, as thereafter delivered to the purchasers of such
      Shares, such offering documents shall not include any 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 to deliver to purchasers of
      any other securities of the Company included in the offering copies of
      such offering documents as so amended or supplemented;

            (j) keep the Holders informed of the Company's best estimate of the
      earliest date on which the offering documents will become effective, and
      promptly notify the Holders of (A) the effectiveness of such offering
      documents, (B) a request by the Commission for an amendment or supplement
      to such offering documents, (C) the issuance by the Commission of an order
      suspending the effectiveness of the offering documents, or of the threat
      of any proceeding for that purpose, and (D) the suspension of the
      qualification of any securities to be included in the offering documents
      for sale in any jurisdiction or the initiation or threat of any proceeding
      for that purpose;

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            (k) cause all Registrable Securities registered hereunder to be
      listed on each securities exchange on which similar securities issued by
      the Company are then listed, if any; and

            (l) provide a transfer agent and registrar for all Registrable
      Securities registered pursuant hereunder and a CUSIP number for all such
      Registrable Securities, in each case not later than the effective date of
      such registration.

            Before filing any offering documents (including any documents
      incorporated by reference therein), the Company shall furnish to one
      counsel designated by the Holders and to the underwriter(s), if any,
      copies of all such offering documents, which offering documents shall be
      subject to the review of such counsel and the underwriter(s), if any, and,
      where feasible, the Company shall make such changes in the offering
      documents as are reasonably requested by such counsel or underwriter(s).

            It shall be a condition precedent to the obligation of the Company
      to take any action pursuant to this Section 5 in respect of the securities
      which are to be registered at the request of any Holder that such Holder
      shall furnish to the Company such information regarding the securities
      held by such Holder and the intended method of disposition thereof as the
      Company shall reasonably request and as shall be required in connection
      with the action taken by the Company.

            Notwithstanding the foregoing provisions of this Section 5, (1)
      selling Holders will not (until further notice) effect sales thereof after
      receipt of electronic, facsimile or written notice from the Company to
      suspend sales to permit the Company to correct or update such Registration
      Statement or prospectus; provided, the obligations of the Company with
      respect to maintaining any Registration Statement current and effective
      shall be extended by a period of days equal to the period such suspension
      is in effect; and (2) at the end of any period during which the Company is
      obligated to keep any Registration Statement current and effective as
      provided by this Section 5, the selling Holders shall discontinue sales of
      shares pursuant to such Registration Statement upon notice from the
      Company of its intention to remove from registration the Registrable
      Securities covered by such Registration Statement which remain unsold, and
      such selling Holders shall notify the Company of the number of shares
      registered which remain unsold promptly after receipt of such notice from
      the Company.

      6. Indemnification.

            (a) The Company will indemnify and hold harmless each Holder, each
      of the officers, directors, members and partners of such Holder and each
      person controlling such Holder, if Registrable Securities held by such
      Holder are included in the securities with respect to which registration,
      qualification or compliance has been effected pursuant to this Agreement,
      and each underwriter of such Registrable Securities, if any, and each
      person who controls such underwriter, against all claims, losses, damages
      and liabilities (or actions in respect thereof) arising out of or based on
      (i) any untrue statement (or alleged untrue statement) of a material fact
      contained in any prospectus, offering circular or other similar document
      (including any related Registration Statement, notification or the like)
      incident to any such registration, qualification or compliance, or based
      on any omission (or alleged omission) to state therein a material fact
      required to be stated therein or necessary to make the statements therein
      not misleading in the light of the circumstances under which they were
      made, or (ii) any violation by the Company of any

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      federal, state or common law rule or regulation applicable to the Company
      and relating to action or inaction required of the Company in connection
      with any such registration, qualification or compliance, and will
      reimburse such Holder, each of the officers, directors and partners of
      such Holder, and each person controlling such Holder, such underwriter and
      each person who controls such underwriter, for any legal and any other
      expenses reasonably incurred in connection with investigating or defending
      any such claim, loss, damage, liability or action, provided that the
      Company will not be liable to a Holder or underwriter in any such case to
      the extent that such claim, loss, damage, liability or expense arises out
      of or is based on (i) any untrue statement or omission made in reliance
      upon and in conformance with written information furnished to the Company
      by or on behalf of such Holder or underwriter and which was furnished
      specifically for the purpose of being used therein or (ii) a failure by
      any Holder to deliver a final prospectus to its transferee if any material
      change has been made to the preliminary prospectus.

            (b) Each Holder will severally and not jointly, if Registrable
      Securities held by such Holder are included in the securities as to which
      such registration, qualification or compliance is being effected,
      indemnify and hold harmless the Company, each of its directors and
      officers, each underwriter, if any, of the Company's securities covered by
      such registration, qualification or compliance, each person who controls
      the Company or such underwriter within the meaning of the Securities Act,
      and each other Holder, each of the officers, directors and partners of
      each such other Holder and each person controlling such other Holder,
      against all claims, losses, damages and liabilities (or actions in respect
      thereof) arising out of or based on any untrue statement (or alleged
      untrue statement) of a material fact contained in any such Registration
      Statement, prospectus, offering circular or other similar document, or any
      omission (or alleged omission) to state therein a material fact required
      to be stated therein or necessary to make the statements therein not
      misleading in the light of the circumstances under which they were made,
      and will reimburse the Company, such other Holders, such directors,
      officers, partners, persons, underwriters or control persons for any legal
      or any other expenses reasonably incurred in connection with investigating
      or defending any such claim, loss, damage, liability or action, in each
      case to the extent, but only to the extent, that such untrue statement (or
      alleged untrue statement) or omission (or alleged omission) is made in
      such Registration Statement, prospectus, offering circular or other
      document in reliance upon and in conformity with written information
      furnished to the Company by or on behalf of such Holder and which was
      furnished specifically for the purpose of being used therein; provided,
      however, that the liability of such Holder under this Section 6 shall be
      limited to an amount equal to the net proceeds to such Holder of
      Registrable Securities sold as contemplated herein.

            (c) Each party entitled to indemnification under this Section 6 (the
      "Indemnified Party") shall give notice to the party required to provide
      indemnification (the "Indemnifying Party") promptly after such Indemnified
      Party has actual knowledge of any claim as to which indemnity may be
      sought, and shall permit the Indemnifying Party, at such party's expense,
      to assume the defense of any such claim or any litigation resulting
      therefrom, provided that counsel for the Indemnifying Party, who shall
      conduct the defense of such claim or litigation, shall be approved by the
      Indemnified Party (whose approval shall not unreasonably be withheld), and
      the Indemnified Party may participate in such defense at such party's
      expense (except for the payment of fees, costs and expenses provided for
      below), and provided further that the failure of any Indemnified Party to
      give notice as provided herein shall not relieve the Indemnifying

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      Party of its obligations under this Agreement, unless such failure to give
      notice shall materially and adversely affect the Indemnifying Party's
      defense of any such claim or any such litigation. No Indemnifying Party,
      in the defense of any such claim or litigation shall, except with the
      consent of each Indemnified Party, consent to entry of any judgment or
      enter into any settlement which 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 to such claim or litigation.
      Notwithstanding the election of the Indemnifying Party to assume the
      defense of any such claim or litigation, the Indemnified Party shall have
      the right to employ separate counsel and to participate in the defense of
      such claim or litigation, and the Indemnifying Party shall bear the
      reasonable fees, costs and expenses of such separate counsel if (i) the
      use of the counsel chosen by the Indemnifying Party to represent the
      Indemnified Party would present such counsel with a conflict of interest;
      (ii) the defendants in, or targets of, any such claim or litigation
      include both the Indemnified Party and the Indemnifying Party and the
      Indemnified Party shall have reasonably concluded that there may be legal
      defenses available to it or to other Indemnified Parties which are
      different from or additional to those available to the Indemnifying Party
      (in which case the Indemnifying Party shall not have the right to direct
      the defense of such action on behalf of the Indemnified Party); (iii) in
      the exercise of the Indemnified Party's reasonable judgment, the
      Indemnifying Party shall not have employed satisfactory counsel to
      represent the Indemnified Party within a reasonable time after notice of
      the institution of such claim or litigation; or (iv) the Indemnifying
      Party shall authorize the Indemnified Party to employ separate counsel at
      the expense of the Indemnifying Party. The Indemnified Party shall not
      settle any such claim or litigation without the consent of the
      Indemnifying Party.

            (d) If the indemnification provided for in this Section 6 from the
      indemnifying party is unavailable to an indemnified party hereunder in
      respect of any losses, claims, damages, liabilities or expenses referred
      to therein, then the indemnifying party, in lieu of indemnifying such
      indemnified party, shall contribute to the amount paid or payable by such
      indemnified party as a result of such losses, claims, damages, liabilities
      or expenses in such proportion as is appropriate to reflect the relative
      fault of the indemnifying party and indemnified parties 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 fault of such indemnifying party and indemnified parties 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 parties, 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 any legal or other fees or expenses reasonably incurred by such
      party in connection with any investigation or proceeding. The parties
      hereto agree that it would not be just and equitable if contribution
      pursuant to this Section 6(d) 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. No person guilty of fraudulent misrepresentation (within the
      meaning of Section 11(f) of the Securities Act) shall be entitled to
      contribution from any person who was not guilty of such fraudulent
      misrepresentation.

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      7. Information by Holder. Each selling Holder shall furnish to the Company
in writing such information regarding such selling Holder and the distribution
proposed by such selling Holder as the Company may reasonably request in writing
and as shall be required in connection with any registration, qualification or
compliance referred to in this Agreement.

      8. Rule 144 Reporting. With a view to making available the benefits of
certain rules and regulations of the Commission which may at any time permit the
sale of the Company's capital stock to the public without registration, at all
times after 90 days after the effective date of the first registration under the
Securities Act filed by the Company for an offering of its securities to the
general public, the Company agrees to use its best efforts to file with the
Commission in a timely manner all reports and other documents required of the
Company under the Securities Act and the Exchange Act.

      9. Market "Stand-off" Agreement. The Holders shall agree not to sell or
otherwise transfer or dispose of any Common Stock (or other securities) of the
Company (other than securities of the Company acquired in the open market on or
after a public offering) held by the Holders for such period of time as
reasonably requested by the Company and the underwriter of the public offering,
which shall not exceed 180 days from the effective date thereof; provided that
such restrictions shall only apply to a Registration Statement filed with
respect to an underwritten public offering by the Company; and provided,
further, that all officers, directors and 3% Holders of the Company enter into
similar agreements. Such agreement shall be in writing in form satisfactory to
the Company and such underwriter. The Company may impose stop-transfer
instructions with respect to the shares (or securities) subject to the foregoing
restriction.

      10. Rule 144 Sales. Notwithstanding anything contained in Sections 2 or 3
to the contrary, a Holder of Registrable Securities shall not have any
registration rights pursuant to Sections 2 or 3 herein if the Company obtains an
opinion of independent counsel, reasonably satisfactory to counsel for such
Holder, that a Holder's Registrable Securities (together with any Affiliate of
such Holder with whom such Holder must aggregate its sales under Commission Rule
144) may be sold without restriction under Commission Rule 144(k) within a
ninety (90) day period.

      11. Miscellaneous. This Agreement shall be governed by and construed in
accordance with the laws of the State of Georgia and may not be amended or
modified without the prior written consent of the Company and the Holders of at
least fifty percent (50%) of the Registrable Securities. This Agreement reflects
the entire understanding of the parties hereto with respect to the subject
matter hereof. This Agreement may be executed in one or more counterparts, all
of which taken together shall constitute one and same instrument. The Company
may add additional parties hereto from time to time by execution of a
counterpart signature page.

      12. Equitable Relief. It is hereby acknowledged that irreparable harm
would occur in the event that any of the provisions of this Agreement were not
performed fully by the parties hereto in accordance with the terms specified
herein, and that monetary damages are an inadequate remedy for breach of this
Agreement because of the difficulty of ascertaining and quantifying the amount
of damage that will be suffered by the parties relying hereon in the event that
the undertakings and provisions contained in this Agreement were breached or
violated. Accordingly, each party hereto hereby agrees that each other party
hereto shall be entitled to an injunction or injunctions to restrain, enjoin and
prevent breaches of the undertakings and provisions hereof and to enforce
specifically the undertakings and provisions hereof in any court of the United
States or any state having jurisdiction over the matter; it being understood
that such

                                       10
<PAGE>

remedies shall be in addition to, and not in lieu of, any other rights and
remedies available at law or in equity.

                            [SIGNATURES ON NEXT PAGE]

                                       11
<PAGE>

      IN WITNESS WHEREOF, the parties have hereunto affixed their hands and
seals as of the date first above written.

HOLDER:                                COMPANY:

Heritage Assurance Partners, L.P.      AssuranceAmerica Corporation

By: Heritage Fund Advisors, LLC,
    General Partner

                                       By: /s/ Lawrence Stumbaugh
                                           -------------------------------------
Name:  /s/ J. Wesley Grace                 Lawrence Stumbaugh, President and
       -----------------------             Chief Executive Officer
Title: Treasurer
       -----------------------

                                       12Exhibit 10.1

                                 GLOWPOINT, INC.

                        NOTICE OF RESTRICTED STOCK AWARD

         Grantee's Name and Address:    James Spanfeller
                                        Forbes.com
                                        28 West 23rd Street
                                        New York, NY 10010

      You have been granted shares of Common Stock of the Company for your
service as an Independent Director on the Board, subject to the terms and
conditions of this Notice of Restricted Stock Award (the "Notice") and the
Restricted Stock Award Agreement (the "Agreement") attached hereto, as follows
(the "Award"). Defined terms used in this Notice but not defined herein shall
have the same meanings given in the Agreement.

         Award Number                                RS-6

         Date of Award                               June 23, 2004

         Vesting Commencement Date                   June 23, 2004

         Total Number of Shares
         of Common Stock Awarded                     80,000

         Aggregate Current Fair
         Market Value of Shares                      $129,600

Vesting Schedule:

      Subject to the Grantee's maintenance of his status as an Independent
Director and other limitations set forth in this Notice and the Agreement, the
Shares will "vest" in accordance with the following schedule:

           20,000 of the Total Number of Shares of Common Stock Awarded
           shall vest on the Vesting Commencement Date, and 20,000 of the
           Total Number of Shares of Common Stock Awarded shall vest on
           each of the first, second and third anniversaries of the
           Vesting Commencement Date thereafter.

Vesting shall cease upon the date of termination of the Grantee's status as an
Independent Director for any reason, including death or disability. For purposes
of this Notice and the

19
<PAGE>

      Agreement, the term "vest" shall mean, with respect to any Shares, that
such Shares shall remain subject to other restrictions on transfer set forth in
the Agreement. Shares that have not vested are deemed "Restricted Shares." If
the Grantee would become vested in a fraction of a Restricted Share, such
Restricted Share shall not vest until the Grantee becomes vested in the entire
Share. Notwithstanding the foregoing, the Shares subject to this Notice will be
subject to the provisions of the Agreement relating to the release of forfeiture
provisions in the event of a Corporate Transaction or Change of Control.

      IN WITNESS WHEREOF, the Company and the Grantee have executed this Notice
and agree that the Award is to be governed by the terms and conditions of this
Notice and the Agreement.

                                          GLOWPOINT, INC.

                                          By: /s/ David C. Trachtenberg
                                             --------------------------
                                          Title: President and CEO

THE GRANTEE ACKNOWLEDGES AND AGREES THAT THE SHARES SHALL VEST, IF AT ALL, ONLY
DURING THE PERIOD OF THE GRANTEE'S STATUS AS AN INDEPENDENT DIRECTOR (NOT
THROUGH THE ACT OF BEING ELECTED TO THE COMPANY'S BOARD OF DIRECTORS, BEING
GRANTED THIS AWARD OR ACQUIRING SHARES HEREUNDER). THE GRANTEE FURTHER
ACKNOWLEDGES AND AGREES THAT NOTHING IN THIS NOTICE OR THE AGREEMENT SHALL
CONFER UPON THE GRANTEE ANY RIGHT WITH RESPECT TO CONTINUATION OF THE GRANTEE'S
STATUS AS AN INDEPENDENT DIRECTOR, NOR SHALL IT INTERFERE IN ANY WAY WITH THE
GRANTEE'S RIGHT OR THE COMPANY'S RIGHT TO TERMINATE THE GRANTEE AT ANY TIME,
WITH OR WITHOUT CAUSE, AND WITH OR WITHOUT NOTICE.

      The Grantee acknowledges receipt of a copy of the Agreement and represents
that he is familiar with the terms and provisions thereof, and hereby accepts
the Award subject to all of the terms and provisions hereof and thereof. The
Grantee has reviewed this Notice and the Agreement in their entirety, has had an
opportunity to obtain the advice of counsel prior to executing this Notice and
fully understands all provisions of this Notice and the Agreement. The Grantee
hereby agrees that all disputes arising out of or relating to this Notice and
the Agreement shall be resolved in accordance with Section 15 of the Agreement.
The Grantee further agrees to notify the Company upon any change in the
residence address indicated in this Notice.

Dated: June 23, 2004                      Signed: /s/ James Spanfeller
                                                 ---------------------

20
<PAGE>

                                 GLOWPOINT, INC.

                        RESTRICTED STOCK AWARD AGREEMENT

      1. Issuance of Shares. Glowpoint, Inc., a Delaware corporation (the
"Company"), hereby issues to the Grantee (the "Grantee") named in the Notice of
Restricted Stock Award (the "Notice"), the Total Number of Shares of Common
Stock Awarded set forth in the Notice (the "Shares"), subject to the Notice and
this Restricted Stock Award Agreement (this "Agreement"). All Shares issued
hereunder will be deemed issued to the Grantee as fully paid and nonassessable
shares, and the Grantee will have the right to vote the Shares at meetings of
the Company's stockholders. The Company shall pay any applicable stock transfer
taxes imposed upon the issuance of the Shares to the Grantee hereunder. Defined
terms used in this Agreement but not defined herein shall have the same meanings
given in the Notice.

      2. Consideration. The Shares have been issued to the Grantee in
consideration for his service to the Company as an Independent Director on the
Board, which consideration has a value of $1.62 per share, the closing price of
the Company's Common Stock on the Nasdaq National Market on the Date of Award.
The Grantee agrees to pay upon receipt of the Notice the par value of $.0001 for
each Share issued in the total amount of $8.00.

      3. Transfer Restrictions. The Shares issued to the Grantee hereunder may
not be sold, transferred by gift, pledged, hypothecated, or otherwise
transferred or disposed of by the Grantee prior to the date when the Shares
become vested pursuant to the Vesting Schedule set forth in the Notice. Any
attempt to transfer Restricted Shares in violation of this Section 3 will be
null and void and will be disregarded.

      4. Escrow of Stock. For purposes of facilitating the enforcement of the
provisions of this Agreement, the Grantee agrees, immediately upon receipt of
the certificate(s) for the Restricted Shares, to deliver such certificate(s),
together with an Assignment Separate from Certificate in the form attached
hereto as Exhibit A, executed in blank by the Grantee and the Grantee's spouse
(if required for transfer) with respect to each such stock certificate, to the
Secretary or Assistant Secretary of the Company, or their designee, to hold in
escrow for so long as such Restricted Shares have not vested pursuant to the
Vesting Schedule set forth in the Notice, with the authority to take all such
actions and to effectuate all such transfers and/or releases as may be necessary
or appropriate to accomplish the objectives of this Agreement in accordance with
the terms hereof. The Grantee hereby acknowledges that the appointment of the
Secretary or Assistant Secretary of the Company (or their designee) as the
escrow holder hereunder with the stated authorities is a material inducement to
the Company to make this Agreement and that such appointment is coupled with an
interest and is accordingly irrevocable. The Grantee agrees that such escrow
holder shall not be liable to any party hereto (or to any other party) for any
actions or omissions unless such escrow holder is grossly negligent or engages
in willful misconduct relative thereto. The escrow holder may rely upon any
letter, notice or other document executed by any signature purported to be
genuine and may resign at any time.

21
<PAGE>

      5. Distributions. The Company shall disburse to the Grantee all regular
cash dividends with respect to the Shares and Additional Securities (whether
vested or not).

      6. Additional Securities. Any securities or cash received (other than a
regular cash dividend) as the result of ownership of the Restricted Shares (the
"Additional Securities"), including, but not by way of limitation, warrants,
options and securities received as a stock dividend or stock split, or as a
result of a recapitalization or reorganization or other similar change in the
Company's capital structure, shall be retained in escrow in the same manner and
subject to the same conditions and restrictions as the Restricted Shares with
respect to which they were issued, including, without limitation, the Vesting
Schedule set forth in the Notice. The Grantee shall be entitled to direct the
Company to exercise any warrant or option received as Additional Securities upon
supplying the funds necessary to do so, in which event the securities so
purchased shall constitute Additional Securities, but the Grantee may not direct
the Company to sell any such warrant or option. If Additional Securities consist
of a convertible security, the Grantee may exercise any conversion right, and
any securities so acquired shall constitute Additional Securities. In the event
of any change in certificates evidencing the Shares or the Additional Securities
by reason of any recapitalization, reorganization or other transaction that
results in the creation of Additional Securities, the escrow holder is
authorized to deliver to the issuer the certificates evidencing the Shares or
the Additional Securities in exchange for the certificates of the replacement
securities.

      7. Stop-Transfer Notices. In order to ensure compliance with the
restrictions on transfer set forth in this Agreement or the Notice, the Company
may issue appropriate "stop transfer" instructions to its transfer agent, if
any, and, if the Company transfers its own securities, it may make appropriate
notations to the same effect in its own records.

      8. Refusal to Transfer. The Company shall not be required (i) to transfer
on its books any Shares that have been sold or otherwise transferred in
violation of any of the provisions of this Agreement or (ii) to treat as owner
of such Shares or to accord the right to vote or pay dividends to any purchaser
or other transferee to whom such Shares shall have been so transferred.

      9. Restrictive Legends. The Grantee understands and agrees that the
Company shall cause the legends set forth below or legends substantially
equivalent thereto, to be placed upon any certificate(s) evidencing ownership of
the Shares together with any other legends that may be required by the Company
or by state or federal securities laws:

"THE SECURITIES REPRESENTED BY THIS CERTIFICATE (THE "SECURITIES") HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT")
OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE
DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT AND UNDER APPLICABLE
STATE SECURITIES LAWS OR GLOWPOINT, INC. SHALL HAVE

22
<PAGE>

RECEIVED AN OPINION OF COUNSEL THAT REGISTRATION OF SUCH SECURITIES UNDER THE
SECURITIES ACT AND UNDER THE PROVISIONS OF APPLICABLE STATE SECURITIES LAWS IS
NOT REQUIRED."

      10. Lock-Up Agreement.

            (a) Agreement. The Grantee, if requested by the Company and the lead
underwriter of any public offering of the Common Stock or other securities of
the Company (the "Lead Underwriter"), hereby irrevocably agrees not to sell,
contract to sell, grant any option to purchase, transfer the economic risk of
ownership in, make any short sale of, pledge or otherwise transfer or dispose of
any interest in any Common Stock or any securities convertible into or
exchangeable or exercisable for or any other rights to purchase or acquire
Common Stock (except Common Stock included in such public offering or acquired
on the public market after such offering) during the 180-day period following
the effective date of a registration statement of the Company filed under the
Securities Act of 1933, as amended, or such shorter period of time as the Lead
Underwriter shall specify. The Grantee further agrees to sign such documents as
may be requested by the Lead Underwriter to effect the foregoing and agrees that
the Company may impose stop-transfer instructions with respect to such Common
Stock subject until the end of such period. The Company and the Grantee
acknowledge that each Lead Underwriter of a public offering of the Company's
stock, during the period of such offering and for the 180-day period thereafter,
is an intended beneficiary of this Section 10.

            (b) No Amendment Without Consent of Underwriter. During the period
from identification as a Lead Underwriter in connection with any public offering
of the Company's Common Stock until the earlier of (i) the expiration of the
lock-up period specified in Section 10(a) in connection with such offering or
(ii) the abandonment of such offering by the Company and the Lead Underwriter,
the provisions of this Section 10 may not be amended or waived except with the
consent of the Lead Underwriter.

11. Registration of the Shares. If at any time the Company proposes to file a
registration statement under the Securities Act with respect to an underwritten
offering of Common Stock (except on Form S-4 or Form S-8 or any successor forms
thereto), for its own account, then the Company shall give written notice of
such proposed filing to the Grantee at least 15 days in advance of the
anticipated filing date (the "Piggyback Notice"). The Piggyback Notice shall
offer the Grantee the opportunity to register such amount of Shares as each such
holder may request (a "Piggyback Registration"), subject in all events to the
agreement of the underwriter or underwriters of the offering contemplated by
such registration statement that such Shares can be included in such
registration statement without adversely affecting such offering. Any reduction
in the number of securities to be so offered shall be (i) first, pro-rata among
all security holders who are exercising "piggyback" registration rights, based
on the number of registrable securities originally proposed to be sold by each
of them, and (ii) second, pro-rata among all security holders who are exercising
"demand" registration rights pursuant to a registration rights

23
<PAGE>

agreement with the Company, based on the number of registrable securities
originally proposed to be sold by each of them.

      12. Grantee's Representations. In the event the Shares issuable pursuant
to this Agreement have not been registered under the Securities Act of 1933, as
amended, at the time of initial issuance to the Grantee, the Grantee shall, if
required by the Company, concurrently with the receipt of the Shares, deliver to
the Company his Investment Representation Statement in the form attached hereto
as Exhibit B.

      13. Entire Agreement: Governing Law. The Notice and this Agreement
constitute the entire agreement of the parties with respect to the subject
matter hereof and supersede in their entirety all prior undertakings and
agreements of the Company and the Grantee with respect to the subject matter
hereof, and may not be modified adversely to the Grantee's interest except by
means of a writing signed by the Company and the Grantee. These agreements are
to be construed in accordance with and governed by the internal laws of the
State of New York without giving effect to any choice of law rule that would
cause the application of the laws of any jurisdiction other than the internal
laws of the State of New York to the rights and duties of the parties. Should
any provision of the Notice or this Agreement be determined by a court of law to
be illegal or unenforceable, the other provisions shall nevertheless remain
effective and shall remain enforceable.

      14. Headings. The captions used in this Agreement are inserted for
convenience and shall not be deemed a part of this Agreement for construction or
interpretation.

      15. Dispute Resolution. The provisions of this Section 15 shall be the
exclusive means of resolving disputes arising out of or relating to the Notice
and this Agreement. The Company, the Grantee, and the Grantee's assignees (the
"parties") shall attempt in good faith to resolve any disputes arising out of or
relating to the Notice and this Agreement by negotiation between individuals who
have authority to settle the controversy. Negotiations shall be commenced by
either party by notice of a written statement of the party's position and the
name and title of the individual who will represent the party. Within thirty
(30) days of the written notification, the parties shall meet at a mutually
acceptable time and place, and thereafter as often as they reasonably deem
necessary, to resolve the dispute. If the dispute has not been resolved by
negotiation, the parties agree that any suit, action, or proceeding arising out
of or relating to the Notice or this Agreement shall be brought in the United
States District Court for the Southern District of New York (or should such
court lack jurisdiction to hear such action, suit or proceeding, in a New York
state court in the County of New York) and that the parties shall submit to the
jurisdiction of such court. The parties irrevocably waive, to the fullest extent
permitted by law, any objection the party may have to the laying of venue for
any such suit, action or proceeding brought in such court. THE PARTIES ALSO
EXPRESSLY WAIVE ANY RIGHT THEY HAVE OR MAY HAVE TO A JURY TRIAL OF ANY SUCH
SUIT, ACTION OR PROCEEDING. If any one or more provisions of this Section 15
shall for any reason be held invalid or unenforceable, it is the specific intent
of the parties that such provisions shall be modified to the minimum extent
necessary to make it or its application valid and enforceable.

24
<PAGE>

      16. Notices. Any notice required or permitted hereunder shall be given in
writing and shall be deemed effectively given upon personal delivery or upon
deposit in the United States mail by certified mail (if the parties are within
the United States) or upon deposit for delivery by an internationally recognized
express mail courier service (for international delivery of notice), with
postage and fees prepaid, addressed to the other party at its address as shown
beneath its signature in the Notice, or to such other address as such party may
designate in writing from time to time to the other party.

      17. Corporate Transactions/Changes in Control

            (a) Acceleration of Award Upon Corporate Transaction. In the event
of any Corporate Transaction, the Award shall automatically become fully vested
and exercisable and be released from any restrictions on transfer and forfeiture
rights, immediately prior to the specified effective date of such Corporate
Transaction, for all of the Shares at the time represented by the Award.

            (b) Acceleration of Award Upon Change in Control. Following a
Change in Control, the Award shall automatically become fully vested and
exercisable and be released from any restrictions on transfer and repurchase or
forfeiture rights, immediately upon the consummation of such Change in Control.

      18. Definitions. As used herein, the following definitions shall apply:

            (a) "Affiliate" and "Associate" shall have the respective meanings
ascribed to such terms in Rule 12b-2 promulgated under the Exchange Act.

            (b) "Board" means the Board of Directors of the Company.

            (c) "Change in Control" means a change in ownership or control of
the Company effected through either of the following transactions:

                  (i) the direct or indirect acquisition by any person or
related group of persons (other than an acquisition from or by the Company or by
a Company-sponsored employee benefit plan or by a person that directly or
indirectly controls, is controlled by, or is under common control with, the
Company) of beneficial ownership (within the meaning of Rule 13d-3 of the
Exchange Act) of securities possessing more than fifty percent (50%) of the
total combined voting power of the Company's outstanding securities pursuant to
a tender or exchange offer made directly to the Company's stockholders which a
majority of the Continuing Directors who are not Affiliates or Associates of the
offeror do not recommend such stockholders accept, or

                  (ii) a change in the composition of the Board over a period of
thirty-six (36) months or less such that a majority of the Board members
(rounded up to the next whole number) ceases, by reason of one or more contested
elections for Board membership, to be

25
<PAGE>

comprised of individuals who are Continuing Directors.

            (d) "Code" means the Internal Revenue Code of 1986, as amended.

            (e) "Common Stock" means the common stock of the Company.

            (f) "Company" means Glowpoint, Inc., a Delaware corporation.

            (g) "Continuing Directors" means members of the Board who either (i)
have been Board members continuously for a period of at least thirty-six (36)
months or (ii) have been Board members for less than thirty-six (36) months and
were elected or nominated for election as Board members by at least a majority
of the Board members described in clause (i) who were still in office at the
time such election or nomination was approved by the Board.

            (h) "Corporate Transaction" means any of the following transactions:

                  (i) a merger or consolidation in which the Company is not the
surviving entity, except for a transaction the principal purpose of which is to
change the state in which the Company is incorporated;

                  (ii) the sale, transfer or other disposition of all or
substantially all of the assets of the Company (including the capital stock of
the Company's subsidiary corporations);

                  (iii) approval by the Company's shareholders of any plan or
proposal for the complete liquidation or dissolution of the Company;

                  (iv) any reverse merger in which the Company is the surviving
entity but in which securities possessing more than fifty percent (50%) of the
total combined voting power of the Company's outstanding securities are
transferred to a person or persons different from those who held such securities
immediately prior to such merger; or

                  (v) acquisition by any person or related group of persons
(other than the Company or by a Company-sponsored employee benefit plan) of
beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) of
securities possessing more than fifty percent (50%) of the total combined voting
power of the Company's outstanding securities (whether or not in a transaction
also constituting a Change in Control).

            (i) "Director" means a member of the Board.

            (j) "Exchange Act" means the Securities Exchange Act of 1934, as
amended.

            (k) "Independent Director" means , with respect to each such
scheduled vesting date, the Grantee (i) attended at least 75% of the meetings of
the Board held in the twelve months prior to such date and (ii) remains
"independent" under the Nasdaq rules prevailing on such scheduled vesting date.

26
<PAGE>

            (l) "Parent" means a "parent corporation," whether now or hereafter
existing, as defined in Section 424(e) of the Code.

            (m) "Share" means a share of the Common Stock.

            (n) "Subsidiary" means a "subsidiary corporation," whether now or
hereafter existing, as defined in Section 424(f) of the Code.

27
<PAGE>

                                    EXHIBIT A

                   STOCK ASSIGNMENT SEPARATE FROM CERTIFICATE

[Please sign this document but do not date it. The date and information of the
transferee will be completed if and when the shares are assigned.]

            FOR VALUE RECEIVED, ____________________________ hereby sells,

assigns and transfers unto _______________________, __________________ (____)

shares of the Common Stock of Glowpoint, Inc., a Delaware corporation (the

"Company"), standing in his or her name on the books of, the Company represented

by Certificate No. __ herewith, and does hereby irrevocably constitute and

appoint the Secretary of the Company attorney to transfer the said stock in the

books of the Company with full power of substitution.

DATED: ________________

                                               ________________________________

28
<PAGE>

                                 GLOWPOINT, INC.

                       INVESTMENT REPRESENTATION STATEMENT

GRANTEE            :          JAMES SPANFELLER

COMPANY            :          GLOWPOINT, INC.

SECURITY           :          COMMON STOCK

AMOUNT             :          80,000 SHARES

DATE               :          June 23, 2004

In connection with the receipt of the above-listed Securities, the undersigned
Grantee represents to the Company the following:

            The Grantee is aware of the Company's business affairs and financial
condition and has acquired sufficient information about the Company to reach an
informed and knowledgeable decision to acquire the Securities. The Grantee is
acquiring these Securities for investment for the Grantee's own account only and
not with a view to, or for resale in connection with, any "distribution" thereof
within the meaning of the Securities Act of 1933, as amended (the "Securities
Act").

            The Grantee is an "accredited investor" within the meaning of Rule
501 of Regulation D of the Securities and Exchange Commission, as presently in
effect.

                  The Grantee acknowledges and understands that the Securities
                  constitute "restricted securities" under the Securities Act
                  and have not been registered under the Securities Act in
                  reliance upon a specific exemption therefrom, which exemption
                  depends upon among other things, the bona fide nature of the
                  Grantee's investment intent as expressed herein. In this
                  connection, the Grantee understands that, in the view of the
                  Securities and Exchange Commission, the statutory basis for
                  such exemption may be unavailable if the Grantee's
                  representation was predicated solely upon a present intention
                  to hold these Securities for the minimum capital gains period
                  specified under tax statutes, for a deferred sale, for or
                  until an increase or decrease in the market price of the
                  Securities, or for a period of one year or any other fixed
                  period in the future. The Grantee further understands that the
                  Securities must be held indefinitely unless they are
                  subsequently registered under the Securities Act or an
                  exemption from such registration is available. The Grantee
                  further acknowledges and understands that the Company is under
                  no obligation to register the Securities. Grantee understands
                  that the certificate evidencing the

29
<PAGE>

                  Securities will be imprinted with a legend which prohibits the
                  transfer of the Securities unless they are registered or such
                  registration is not required in the opinion of counsel
                  satisfactory to the Company.

            The Grantee is familiar with the provisions of Rule 701 and Rule
144, each promulgated under the Securities Act, which, in substance, permit
limited public resale of "restricted securities" acquired, directly or
indirectly from the issuer thereof, in a non-public offering subject to the
satisfaction of certain conditions. Rule 701 provides that if the issuer
qualifies under Rule 701 at the time of the sale of the Shares to the Grantee,
the sale will be exempt from registration under the Securities Act. In the event
the Company becomes subject to the reporting requirements of Section 13 or 15(d)
of the Securities Exchange Act of 1934, ninety (90) days thereafter (or such
longer period as any market stand-off agreement may require) the Securities
exempt under Rule 701 may be resold, subject to the satisfaction of certain of
the conditions specified by Rule 144, including: (1) the resale being made
through a broker in an unsolicited "broker's transaction" or in transactions
directly with a market maker (as said term is defined under the Securities
Exchange Act of 1934); and, in the case of an affiliate, (2) the availability of
certain public information about the Company, (3) the amount of Securities being
sold during any three month period not exceeding the limitations specified in
Rule 144(e), and (4) the timely filing of a Form 144, if applicable.

            In the event that the Company does not qualify under Rule 701 at the
time of sale of the Securities, then the Securities may be resold in certain
limited circumstances subject to the provisions of Rule 144, which requires the
resale to occur not less than one year after the later of the date the
Securities were sold by the Company or the date the Securities were sold by an
affiliate of the Company, within the meaning of Rule 144; and, in the case of
acquisition of the Securities by an affiliate, or by a non-affiliate who
subsequently holds the Securities less than two years, the satisfaction of the
conditions set forth in sections (1), (2), (3) and (4) of the paragraph
immediately above.

            The Grantee further understands that in the event all of the
applicable requirements of Rule 701 or 144 are not satisfied, registration under
the Securities Act, compliance with Regulation A, or some other registration
exemption will be required; and that, notwithstanding the fact that Rules 144
and 701 are not exclusive, the Staff of the Securities and Exchange Commission
has expressed its opinion that persons proposing to sell private placement
securities other than in a registered offering and otherwise than pursuant to
Rules 144 or 701 will have a substantial burden of proof in establishing that an
exemption from registration is available for such offers or sales, and that such
persons and their respective brokers who participate in such transactions do so
at their own risk. The Grantee understands that no assurances can be given that
any such other registration exemption will be available in such event.

            The Grantee represents that he is a resident of the State of New
York.

                                      Signature of Grantee:
                                      __________________________________________
                                      Date:_____________________________________

30

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