Document:

EXHIBIT 10.5

                          REGISTRATION RIGHTS AGREEMENT

            This Registration Rights Agreement (this "Agreement") is made and
entered into as of July 21, 2004, by and among Hudson Health Sciences, Inc., a
Delaware corporation (the "Company"), and the purchasers signatory hereto (each
such purchaser, a "Purchaser" and collectively, the "Purchasers").

            This Agreement is made pursuant to and in connection with (i) the
Subscription Agreements between the Company and each Purchaser dated as of the
date hereof (collectively, the "Purchase Agreements"), (ii) the Private
Placement Memorandum dated June 17, 2004 relating to the offering of securities
of the Company pursuant to which the Purchasers purchased the Registrable
Securities (the "Memorandum") and (iii) the proposed merger (the "Merger") of
EMLR Acquisition Corp., a Delaware corporation and a wholly-owned subsidiary of
Email Real Estate.com, Inc. ("EMLR Mergerco"), with and into the Company.

            The Company and the Purchasers hereby agree as follows:

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

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

            "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.

            "Commission" shall mean the Securities and Exchange Commission.

            "Effectiveness Date" means, with respect to the Registration
      Statement required to be filed hereunder, the earlier of (a) the 150th
      calendar day following the date of the Purchase Agreement, or 180 days
      following the date of the Purchase Agreement if the Registration Statement
      is subject to review and comment from the Commission, provided that if
      such day is not a Business Day, then the next Business Day thereafter, and
      (b) the fifth Trading Day following the date on which the Company is
      notified by the Commission that the Registration Statement will not be
      reviewed or is no longer subject to further review and comments.

            "Effectiveness Period" shall have the meaning set forth in Section
      2(a).

            "Event" shall have the meaning set forth in Section 2(b).

            "Event Date" shall have the meaning set forth in Section 2(b).

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

            "Filing Date" means, with respect to the Registration Statement
      required to be filed hereunder, the 30th calendar day following the date
      of the Purchase Agreement, provided that if such day is not a Business
      Day, then the Filing Date shall be the next Business Day thereafter.

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

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

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

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

            "Proceeding" means an action, claim, suit, investigation or
      proceeding (including, without limitation, an investigation or partial
      proceeding, such as a deposition), whether commenced or threatened.

            "Prospectus" means the prospectus included in the 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 Securities covered by the Registration Statement, and all
      other amendments and supplements to the Prospectus, including
      post-effective amendments, and all material incorporated by reference or
      deemed to be incorporated by reference in such Prospectus.

            "Registrable Securities" means (i) all of the Conversion Shares,
      including the EMLR Series A Conversion Shares after giving effect to the
      Merger (ii) any shares of Common Stock issued or issuable upon any stock
      split, dividend or other distribution, recapitalization or similar event
      with respect to the foregoing and (iii) any additional shares issuable in
      connection with any anti-dilution provisions associated with the Preferred
      Stock.

            "Registration Statement" means the registration statements required
      to be filed hereunder, including (in each case) the Prospectus, amendments
      and supplements to the registration statement or Prospectus, including
      pre- and post-effective amendments, all exhibits thereto, and all material
      incorporated by reference or deemed to be incorporated by reference in the
      registration statement.

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

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

            "Securities Act" means the Securities Act of 1933, as amended.

            "Trading Day" means (i) a day on which the Common Stock is traded on
      a Trading Market, or (ii) if the Common Stock is not listed on a Trading
      Market, a day on which the Common Stock is traded on the over-the-counter
      market, as reported by the OTC Bulletin Board, or (iii) if the Common
      Stock is not quoted on the OTC Bulletin Board, a day on which the Common
      Stock is quoted in the over-the-counter market as reported by the National
      Quotation Bureau Incorporated (or any similar organization or agency
      succeeding to its functions of reporting prices); provided, that in the
      event that the Common Stock is not listed or quoted as set forth in (i),
      (ii) and (iii) hereof, then Trading Day shall mean a Business Day.

            "Trading Market" means the following markets or exchanges on which
      the Common Stock is listed or quoted for trading on the date in question:
      the American Stock Exchange, the New York Stock Exchange, the Nasdaq
      National Market, the Nasdaq SmallCap Market or the OTC Bulletin Board.

            "Transaction Documents" means this Agreement, the Purchase
      Agreement, the Certificate of Designation, the Escrow Agreement and any
      other documents or agreements executed in connection with the transactions
      contemplated hereunder and thereunder.

      2. Registration.

            (a) On or prior to the Filing Date, the Company shall prepare and
      file with the Commission the Registration Statement covering the resale of
      all of the Registrable Securities for an offering to be made on a
      continuous basis pursuant to Rule 415. The Registration Statement required
      hereunder shall be on Form SB-2 (or another appropriate form in accordance
      herewith). The Registration Statement required hereunder shall contain
      (except if otherwise directed by the Holders) substantially the "Plan of
      Distribution" attached hereto as Annex A. Subject to the terms of this
      Agreement, the Company shall use its best efforts to cause the
      Registration Statement to be declared effective under the Securities Act
      as promptly as possible after the filing thereof, but in any event not
      later than the Effectiveness Date, and shall use its best efforts to keep
      the Registration Statement continuously effective under the Securities Act
      until the date when all Registrable Securities covered by the Registration
      Statement have been sold or may be sold without volume restrictions
      pursuant to Rule 144(k) as determined by the counsel to the Company
      pursuant to a written opinion letter to such effect, addressed and
      acceptable to the Company's transfer agent and the affected Holders (the
      "Effectiveness Period").

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            (b) If: (i) a Registration Statement is not filed on or prior to the
      Filing Date (if the Company files a Registration Statement without
      affording the Holder the opportunity to review and comment on the same as
      required by Section 3(a), the Company shall not be deemed to have
      satisfied this clause (i)), or (ii) the Company fails to file with the
      Commission a request for acceleration in accordance with Rule 461
      promulgated under the Securities Act, within five Trading Days of the date
      that the Company is notified (orally or in writing, whichever is earlier)
      by the Commission that a Registration Statement will not be "reviewed," or
      is not subject to further review, or (iii) prior to the date when such
      Registration Statement is first declared effective by the Commission, the
      Company fails to file a pre-effective amendment and otherwise respond in
      writing to comments made by the Commission in respect of such Registration
      Statement within 21 calendar days after the receipt of comments by or
      notice from the Commission that such amendment is required in order for a
      Registration Statement to be declared effective, or (iv) a Registration
      Statement filed or required to be filed hereunder is not declared
      effective by the Commission on or before the Effectiveness Date, or (v)
      after a Registration Statement is first declared effective by the
      Commission, it ceases for any reason to remain continuously effective as
      to all Registrable Securities for which it is required to be effective, or
      the Holders are not permitted to utilize the Prospectus therein to resell
      such Registrable Securities, for in any such case 10 calendar consecutive
      days but no more than an aggregate of 15 Trading Days during any 12 month
      period (which need not be consecutive Trading Days)(any such failure or
      breach being referred to as an "Event," and for purposes of clause (i) or
      (iv) the date on which such Event occurs, or for purposes of clause (ii)
      the date on which such five Trading Day period is exceeded, or for
      purposes of clause (iii) the date which such 21 calendar days is exceeded,
      or for purposes of clause (v) the date on which such 10 calendar day or 15
      Trading Day period, as applicable, is exceeded being referred to as "Event
      Date"), then in addition to any other rights the Holders may have
      hereunder or under applicable law: (x) on each such Event Date the Company
      shall pay to each Holder an amount in cash, as partial liquidated damages
      and not as a penalty, equal to 1.5% of the aggregate purchase price paid
      by such Holder pursuant to the Purchase Agreement for any Registrable
      Securities then held by such Holder; and (y) on each monthly anniversary
      of each such Event Date (if the applicable Event shall not have been cured
      by such date) until the applicable Event is cured, the Company shall pay
      to each Holder an amount in cash, as partial liquidated damages and not as
      a penalty, 1.5% of the aggregate purchase price paid by such Holder
      pursuant to the Purchase Agreement for any Registrable Securities then
      held by such Holder. If the Company fails to pay any partial liquidated
      damages pursuant to this Section in full within seven days after the date
      payable, the Company will pay interest thereon at a rate of 18% per annum
      (or such lesser maximum amount that is permitted to be paid by applicable
      law) to the Holder, accruing daily from the date such partial liquidated
      damages are due until such amounts, plus all such interest thereon, are
      paid in full. The partial liquidated damages pursuant to the terms hereof
      shall apply on a daily pro-rata basis for any portion of a month prior to
      the cure of an Event.

      3. Registration Procedures

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

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            (a) Not less than five Trading Days prior to the filing of the
      Registration Statement or any related Prospectus or any amendment or
      supplement thereto (i) furnish to the Holders copies of all such documents
      proposed to be filed (including documents incorporated or deemed
      incorporated by reference to the extent requested by such Person) which
      documents will be subject to the review of such Holders and (ii) cause its
      officers, directors, counsel and independent certified public accountants
      to respond to such inquiries as shall be necessary, in the reasonable
      opinion of respective counsel, to conduct a reasonable investigation
      within the meaning of the Securities Act. The Company shall not file the
      Registration Statement or any such Prospectus or any amendments or
      supplements thereto to which the Holders of a majority of the Registrable
      Securities shall reasonably object in good faith, provided that the
      Company is notified of such objection in writing no later than 3 Trading
      Days after the Holders have been so furnished copies of such documents.

            (b) (i) Prepare and file with the Commission such amendments,
      including post-effective amendments, to the Registration Statement and the
      Prospectus used in connection therewith as may be necessary to keep the
      Registration Statement continuously effective as to the applicable
      Registrable Securities for the Effectiveness Period and prepare and file
      with the Commission such additional Registration Statements in order to
      register for resale under the Securities Act all of the Registrable
      Securities; (ii) cause the related Prospectus to be amended or
      supplemented by any required Prospectus supplement and, as so supplemented
      or amended, to be filed pursuant to Rule 424; (iii) respond as promptly as
      reasonably possible to any comments received from the Commission with
      respect to the Registration Statement or any amendment thereto and, as
      promptly as reasonably possible, upon request, provide the Holders true
      and complete copies of all correspondence from and to the Commission
      relating to the Registration Statement; and (iv) comply in all material
      respects with the provisions of the Securities Act and the Exchange Act
      with respect to the disposition of all Registrable Securities covered by
      the Registration Statement during the applicable period in accordance with
      the intended methods of disposition by the Holders thereof set forth in
      the Registration Statement as so amended or in such Prospectus as so
      supplemented.

            (c) Notify the Holders of Registrable Securities as promptly as
      reasonably possible and confirm such notice in writing promptly following
      the day (i)(A) when a Prospectus or any Prospectus supplement or
      post-effective amendment to the Registration Statement is proposed to be
      filed; (B) when the Commission notifies the Company whether there will be
      a "review" of the Registration Statement and whenever the Commission
      comments in writing on the Registration Statement (the Company shall, upon
      request, provide true and complete copies thereof and all written
      responses thereto to each of the Holders); and (C) with respect to the
      Registration Statement or any post-effective amendment, when the same has
      become effective; (ii) of any request by the Commission or any other
      Federal or state governmental authority during the period of effectiveness
      of the Registration Statement for amendments or supplements to the
      Registration Statement or Prospectus or for additional information; (iii)
      of the issuance by the Commission or any other federal or state
      governmental authority of any stop order suspending the effectiveness of
      the Registration Statement covering any or all of the Registrable
      Securities or the initiation of any Proceedings for that purpose; (iv) of
      the

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      receipt by the Company of any notification with respect to the suspension
      of the qualification or exemption from qualification of any of the
      Registrable Securities for sale in any jurisdiction, or the initiation or
      threatening of any Proceeding for such purpose; and (v) of the occurrence
      of any event or passage of time that makes the financial statements
      included in the Registration Statement ineligible for inclusion therein or
      any statement made in the Registration Statement or Prospectus or any
      document incorporated or deemed to be incorporated therein by reference
      untrue in any material respect or that requires any revisions to the
      Registration Statement, Prospectus or other documents so that, in the case
      of the Registration Statement or the Prospectus, as the case may be, it
      will not contain any untrue statement of a material fact or omit to state
      any material fact required to be stated therein or necessary to make the
      statements therein, in light of the circumstances under which they were
      made, not misleading; (vi) the occurrence or existence of any pending
      corporate development with respect to the Company that the Company
      believes may be material and that, in the determination of the Company,
      makes it not in the best interest of the Company to allow continued
      availability or the Registration Statement or Prospectus; provided that
      any and all of such information shall remain confidential to each Holder
      until such information otherwise becomes public, unless disclosure by a
      Holder is required by law; provided, further, notwithstanding each
      Holder's agreement to keep such information confidential, the Holders make
      no acknowledgement that any such information is material, non-public
      information.

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

            (e) Furnish to each Holder, without charge, at least one conformed
      copy of the Registration Statement and each amendment thereto, including
      financial statements and schedules, all documents incorporated or deemed
      to be incorporated therein by reference to the extent requested by such
      Person, and all exhibits to the extent requested by such Person (including
      those previously furnished or incorporated by reference) promptly after
      the filing of such documents with the Commission.

            (f) Promptly deliver to each Holder, without charge, as many copies
      of the Prospectus or Prospectuses (including each form of prospectus) and
      each amendment or supplement thereto as such Persons may reasonably
      request in connection with resales by the Holder of Registrable
      Securities. Subject to the terms of this Agreement, the Company hereby
      consents to the use of such Prospectus and each amendment or supplement
      thereto by each of the selling Holders in connection with the offering and
      sale of the Registrable Securities covered by such Prospectus and any
      amendment or supplement thereto, except after the giving on any notice
      pursuant to Section 3(c).

            (g) Prior to any resale of Registrable Securities by a Holder, use
      its commercially reasonable efforts to register or qualify or cooperate
      with the selling Holders in connection with the registration or
      qualification (or exemption from the

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

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

            (i) Upon the occurrence of any event contemplated by Section
      3(c)(v), as promptly as reasonably 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 were made, not misleading. If the
      Company notifies the Holders in accordance with clauses (ii) through (v)
      of Section 3(c) above to suspend the use of any Prospectus until the
      requisite changes to such Prospectus have been made, then the Holders
      shall suspend use of such Prospectus. The Company will use its best
      efforts to ensure that the use of the Prospectus may be resumed as
      promptly as is practicable. The Company shall be entitled to exercise its
      right under this Section 3(i) to suspend the availability of a
      Registration Statement and Prospectus, subject to the payment of
      liquidated damages pursuant to Section 2(b), for a period not to exceed 60
      days (which need not be consecutive days) in any 12 month period.

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

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

            (l) The Company may require each Holder to furnish to the Company a
      certified statement as to the number of shares of Common Stock
      beneficially owned by such Holder and, if required by the Commission, the
      person thereof that has voting and dispositive control over such shares.
      During any periods that the Company is unable to

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      meet its obligations hereunder with respect to the registration of the
      Registrable Securities solely because any Holder fails to furnish such
      information within three Trading Days of the Company's request, any
      liquidated damages that are accruing at such time as to such Holder only
      shall be tolled and any Event that may otherwise occur solely because of
      such delay shall be suspended as to such Holder only, until such
      information is delivered to the Company.

      4. Registration Expenses. All fees and expenses incident to the
performance of or compliance with this Agreement by the Company shall be borne
by the Company whether or not any Registrable Securities are sold pursuant to
the Registration Statement. The fees and expenses referred to in the foregoing
sentence shall include, without limitation, (i) all registration and filing fees
(including, without limitation, fees and expenses (A) with respect to filings
required to be made with the Trading Market on which the Common Stock is then
listed for trading and (B) in compliance with applicable state securities or
Blue Sky laws), (ii) printing expenses (including, without limitation, expenses
of printing certificates for Registrable Securities and of printing prospectuses
if the printing of prospectuses is reasonably requested by the holders of a
majority of the Registrable Securities included in the Registration Statement),
(iii) messenger, telephone and delivery expenses, (iv) fees and disbursements of
counsel for the Company, (v) Securities Act liability insurance, if the Company
so desires such insurance, and (vi) fees and expenses of all other Persons
retained by the Company in connection with the consummation of the transactions
contemplated by this Agreement. In addition, the Company shall be responsible
for all of its internal expenses incurred in connection with the consummation of
the transactions contemplated by this Agreement (including, without limitation,
all salaries and expenses of its officers and employees performing legal or
accounting duties), the expense of any annual audit and the fees and expenses
incurred in connection with the listing of the Registrable Securities on any
securities exchange as required hereunder. In no event shall the Company be
responsible for any broker or similar commissions or, except to the extent
provided for in the Transaction Documents, any legal fees or other costs of the
Holders.

      5. Indemnification

            (a) Indemnification by the Company. The Company shall,
      notwithstanding any termination of this Agreement, indemnify and hold
      harmless each Holder, the officers, directors, agents and employees of
      each of them, each Person who controls any such Holder (within the meaning
      of Section 15 of the Securities Act or Section 20 of the Exchange Act) and
      the officers, directors, agents and employees of each such controlling
      Person, to the fullest extent permitted by applicable law, from and
      against any and all losses, claims, damages, liabilities, costs
      (including, without limitation, reasonable attorneys' fees) and expenses
      (collectively, "Losses"), as incurred, arising out of or relating to any
      untrue or alleged untrue statement of a material fact contained in the
      Registration Statement, any Prospectus or any form of prospectus or in any
      amendment or supplement thereto or in any preliminary prospectus, or
      arising out of or relating to any omission or alleged omission of a
      material fact required to be stated therein or necessary to make the
      statements therein (in the case of any Prospectus or form of prospectus or
      supplement thereto, in light of the circumstances under which they were
      made) not misleading, except to the extent, but only to the extent, that
      (i) such untrue statements or omissions are based solely upon information
      regarding such Holder furnished in writing

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      to the Company by such Holder expressly for use therein, or to the extent
      that such information relates to such Holder or such Holder's proposed
      method of distribution of Registrable Securities and was reviewed and
      expressly approved in writing by such Holder expressly for use in the
      Registration Statement, such Prospectus or such form of Prospectus or in
      any amendment or supplement thereto (it being understood that the Holder
      has approved Annex A hereto for this purpose) or (ii) in the case of an
      occurrence of an event of the type specified in Section 3(c)(ii)-(v), the
      use by such Holder of an outdated or defective Prospectus after the
      Company has notified such Holder in writing that the Prospectus is
      outdated or defective and prior to the receipt by such Holder of the
      Advice contemplated in Section 6(d). The Company shall notify the Holders
      promptly of the institution, threat or assertion of any Proceeding of
      which the Company is aware in connection with the transactions
      contemplated by this Agreement.

            (b) Indemnification by Holders. Each Holder shall, severally and not
      jointly, indemnify and hold harmless the Company, its directors, officers,
      agents and employees, each Person who controls the Company (within the
      meaning of Section 15 of the Securities Act and Section 20 of the Exchange
      Act), and the directors, officers, agents or employees of such controlling
      Persons, to the fullest extent permitted by applicable law, from and
      against all Losses, as incurred, to the extent arising out of or based
      solely upon: (x) such Holder's failure to comply with the prospectus
      delivery requirements of the Securities Act or (y) any untrue or alleged
      untrue statement of a material fact contained in any Registration
      Statement, any Prospectus, or any form of prospectus, or in any amendment
      or supplement thereto or in any preliminary prospectus, or arising out of
      or relating to any omission or alleged omission of a material fact
      required to be stated therein or necessary to make the statements therein
      not misleading (i) to the extent, but only to the extent, that such untrue
      statement or omission is contained in any information so furnished in
      writing by such Holder to the Company specifically for inclusion in the
      Registration Statement or such Prospectus or (ii) to the extent that (1)
      such untrue statements or omissions are based solely upon information
      regarding such Holder furnished in writing to the Company by such Holder
      expressly for use therein, or to the extent that such information relates
      to such Holder or such Holder's proposed method of distribution of
      Registrable Securities and was reviewed and expressly approved in writing
      by such Holder expressly for use in the Registration Statement (it being
      understood that the Holder has approved Annex A hereto for this purpose),
      such Prospectus or such form of Prospectus or in any amendment or
      supplement thereto or (2) in the case of an occurrence of an event of the
      type specified in Section 3(c)(ii)-(v), the use by such Holder of an
      outdated or defective Prospectus after the Company has notified such
      Holder in writing that the Prospectus is outdated or defective and prior
      to the receipt by such Holder of the Advice contemplated in Section 6(d).
      In no event shall the liability of any selling Holder hereunder be greater
      in amount than the dollar amount of the net proceeds received by such
      Holder upon the sale of the Registrable Securities giving rise to such
      indemnification obligation.

            (c) Conduct of Indemnification Proceedings. If any Proceeding shall
      be brought or asserted against any Person entitled to indemnity hereunder
      (an "Indemnified Party"), such Indemnified Party shall promptly notify the
      Person from whom indemnity is sought (the "Indemnifying Party") in
      writing, and the Indemnifying Party shall have

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      the right to assume the defense thereof, including the employment of
      counsel reasonably satisfactory to the Indemnified Party and the payment
      of all fees and expenses incurred in connection with defense thereof;
      provided, that the failure of any Indemnified Party to give such notice
      shall not relieve the Indemnifying Party of its obligations or liabilities
      pursuant to this Agreement, except (and only) to the extent that it shall
      be finally determined by a court of competent jurisdiction (which
      determination is not subject to appeal or further review) that such
      failure shall have prejudiced the Indemnifying Party.

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

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

            (d) Contribution. If a claim for indemnification under Section 5(a)
      or 5(b) is unavailable to an Indemnified Party (by reason of public policy
      or otherwise), then each 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, in such proportion as is
      appropriate to reflect the relative fault of the Indemnifying Party and
      Indemnified Party in connection with the actions, statements or omissions
      that resulted in such Losses as well as any other relevant equitable
      considerations. The relative fault of

                                       10
<PAGE>

      such Indemnifying Party and Indemnified Party shall be determined by
      reference to, among other things, whether any action in question,
      including any untrue or alleged untrue statement of a material fact or
      omission or alleged omission of a material fact, has been taken or made
      by, or relates to information supplied by, such Indemnifying Party or
      Indemnified Party, and the parties' relative intent, knowledge, access to
      information and opportunity to correct or prevent such action, statement
      or omission. The amount paid or payable by a party as a result of any
      Losses shall be deemed to include, subject to the limitations set forth in
      this Agreement, any reasonable attorneys' or other reasonable fees or
      expenses incurred by such party in connection with any Proceeding to the
      extent such party would have been indemnified for such fees or expenses if
      the indemnification provided for in this section was available to such
      party in accordance with its terms.

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

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

      6. Miscellaneous

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

            (b) No Piggyback on Registrations. Except as set forth on Schedule
      6(b) attached hereto, neither the Company nor any of its security holders
      (other than the Holders in such capacity pursuant hereto) may include
      securities of the Company in a Registration Statement other than the
      Registrable Securities. No Person has any right to cause the Company to
      effect the registration under the Securities Act of any securities of the
      Company. The Company shall not file any other registration statement until
      after the Effective Date.

                                       11
<PAGE>

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

            (d) Discontinued Disposition. Each Holder agrees by its acquisition
      of such Registrable Securities that, upon receipt of a notice from the
      Company of the occurrence of any event of the kind described in Section
      3(c), such Holder will forthwith discontinue disposition of such
      Registrable Securities under the Registration Statement until such
      Holder's receipt of the copies of the supplemented Prospectus and/or
      amended Registration Statement or until it is advised in writing (the
      "Advice") by the Company that the use of the applicable Prospectus may be
      resumed, and, in either case, has received copies of any additional or
      supplemental filings that are incorporated or deemed to be incorporated by
      reference in such Prospectus or Registration Statement. The Company will
      use its best efforts to ensure that the use of the Prospectus may be
      resumed as promptly as it practicable. The Company agrees and acknowledges
      that any periods during which the Holder is required to discontinue the
      disposition of the Registrable Securities hereunder shall be subject to
      the provisions of Section 2(b).

            (e) Piggy-Back Registrations. If at any time during the
      Effectiveness Period there is not an effective Registration Statement
      covering all of the Registrable Securities and the Company shall determine
      to prepare and file with the Commission a registration statement relating
      to an offering for its own account or the account of others under the
      Securities Act of any of its equity securities, other than on Form S-4 or
      Form S-8 (each as promulgated under the Securities Act) or their then
      equivalents relating to equity securities to be issued solely in
      connection with any acquisition of any entity or business or equity
      securities issuable in connection with the stock option or other employee
      benefit plans, then the Company shall send to each Holder a written notice
      of such determination and, if within fifteen days after the date of such
      notice, any such Holder shall so request in writing, the Company shall
      include in such registration statement all or any part of such Registrable
      Securities such Holder requests to be registered, subject to customary
      underwriter cutbacks applicable to all holders of registration rights.

            (f) Amendments and Waivers. The provisions of this Agreement,
      including the provisions of this sentence, may not be amended, modified or
      supplemented, and waivers or consents to departures from the provisions
      hereof may not be given, unless the same shall be in writing and signed by
      the Company and Holders of not less than two-thirds (2/3) of the then
      outstanding Registrable Securities.

            (g) Notices. Any and all notices or other communications or
      deliveries required or permitted to be provided hereunder shall be made in
      accordance with the provisions of the Purchase Agreement.

            (h) Successors and Assigns. This Agreement shall inure to the
      benefit of and be binding upon the successors and permitted assigns of
      each of the parties and shall inure to the benefit of each Holder.
      Notwithstanding anything contained herein or in any document relating to
      the Merger or the offering of securities pursuant to the PPM to the
      contrary, the Company hereby agrees not to consummate the Merger unless
      EMLR

                                       12
<PAGE>

      agrees in writing to be bound by, and comply in all respects with, all the
      terms and conditions set forth herein. Each Holder may assign their
      respective rights hereunder in the manner and to the Persons as permitted
      under the Purchase Agreement.

            (i) Execution and Counterparts. This Agreement may be executed in
      any number of counterparts, each of which when so executed shall be deemed
      to be an original and, all of which taken together shall constitute one
      and the same Agreement. In the event that any signature is delivered by
      facsimile transmission, such signature shall create a valid binding
      obligation of the party executing (or on whose behalf such signature is
      executed) the same with the same force and effect as if such facsimile
      signature were the original thereof.

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

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

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

            (m) Headings. The headings in this Agreement are for convenience of
      reference only and shall not limit or otherwise affect the meaning hereof.

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

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

                                       13
<PAGE>

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

                                HUDSON HEALTH SCIENCES, INC.

                                By: /s/ Mark J. Ahn
                                    --------------------------------------------
                                    Name: Mark J. Ahn, Ph.D.
                                    Title: President and Chief Executive Officer

                      [SIGNATURE PAGES OF HOLDERS OMITTED]EXHIBIT 4.1
                     SOLUTION TECHNOLOGY INTERNATIONAL, INC.
                            2002 STOCK INCENTIVE PLAN

1. Establishment, Purpose and Types of Awards

      Solution Technology International, Inc., a Delaware corporation (the
"Company"), hereby establishes the Solution Technology International, Inc. 2002
STOCK INCENTIVE PLAN (the "Plan"). The purpose of the Plan is to promote the
long-term growth and profitability of the Company by (i) providing key people
with incentives to improve stockholder value and to contribute to the growth and
financial success of the Company through their future services, and (ii)
enabling the Company to attract, retain and reward the best-available persons.

      The Plan permits the granting of stock options (including incentive stock
options qualifying under Code section 422 and nonqualified stock options), stock
appreciation rights, restricted or unrestricted stock awards, phantom stock,
performance awards, other stock-based awards, or any combination of the
foregoing.

2. Definitions

      Under this Plan, except where the context otherwise indicates, the
following definitions apply:

            (a) "Administrator" means the Board or the committee(s) or
officer(s) appointed by the Board that have authority to administer the Plan as
provided in Section 3 hereof.

            (b) "Affiliate" means any entity, whether now or hereafter existing,
which controls, is controlled by, or is under common control with, the Company
(including, but not limited to, joint ventures, limited liability companies, and
partnerships). For this purpose, "control" shall mean ownership of 50% or more
of the total combined voting power or value of all classes of stock or interests
of the entity.

            (c) "Award" means any stock option, stock appreciation right, stock
award, phantom stock award, performance award, or other stock-based award.

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

            (e) "Change in Control" means: (i) the acquisition (other than from
the Company) in one or more transactions by any Person, as defined in this
Section 2(e), of the beneficial ownership (within the meaning of Rule 13d-3
promulgated under the Securities Exchange Act of 1934, as amended) of 50% or
more of (A) the then outstanding shares of the securities of the Company, or (B)
the combined voting power of the then outstanding securities of the Company
entitled to vote generally in the election of directors (the "Company Voting
Stock"); (ii) the closing of a sale or other conveyance of all or substantially
all of the assets of the Company; or (iii) the effective time of any merger,
share exchange, consolidation, or other business combination involving the
Company if immediately after such transaction persons who hold a majority of the
outstanding voting securities entitled to vote generally in the election of
directors of the surviving entity (or the entity owning 100% of such surviving
entity) are not persons who, immediately prior to such transaction, held the
Company Voting Stock; provided, however, that a Change in Control shall not
include (Y) a public offering of capital stock of the Company or (Z) any
transaction pursuant to which shares of capital stock of the Company are
transferred or issued to any trust, charitable organization, foundation, family
partnership or other entity controlled directly or indirectly by, or established
for the benefit of, Dan L. Jonson and/or Birgitta M. Jonson or their immediate
family members (including spouses, children, grandchildren, parents, and
siblings, in each case to include adoptive relations), or transferred to any
such immediate family members. For purposes of this Section 2(e), a "Person"
means any individual, entity or group within the meaning of Section 13(d)(3) or
14(d)(2) of the Securities Exchange Act of 1934, as amended, other than:
employee benefit plans sponsored or maintained by the Company and corporations
controlled by the Company.

            (f) "Code" means the Internal Revenue Code of 1986, as amended, and
any regulations promulgated thereunder.

<PAGE>

            (g) "Common Stock" means shares of common stock of the Company, par
value of $0.001 per share.

            (h) "Fair Market Value" means, with respect to a share of the
Company's Common Stock for any purpose on a particular date, the value
determined by the Administrator in good faith. However, if the Common Stock is
registered under Section 12(b) or 12(g) of the Securities Exchange Act of 1934,
as amended, and listed for trading on a national exchange or market, "Fair
Market Value" means, as applicable, (i) either the closing price or the average
of the high and low sale price on the relevant date, as determined in the
Administrator's discretion, quoted on the New York Stock Exchange, the American
Stock Exchange, or the Nasdaq National Market; (ii) the last sale price on the
relevant date quoted on the Nasdaq SmallCap Market; (iii) the average of the
high bid and low asked prices on the relevant date quoted on the Nasdaq OTC
Bulletin Board Service or by the National Quotation Bureau, Inc. or a comparable
service as determined in the Administrator's discretion; or (iv) if the Common
Stock is not quoted by any of the above, the average of the closing bid and
asked prices on the relevant date furnished by a professional market maker for
the Common Stock, or by such other source, selected by the Administrator. If no
public trading of the Common Stock occurs on the relevant date but the shares
are so listed, then Fair Market Value shall be determined as of the next
preceding date on which trading of the Common Stock does occur. For all purposes
under this Plan, the term "relevant date" as used in this Section 2(h) means
either the date as of which Fair Market Value is to be determined or the next
preceding date on which public trading of the Common Stock occurs, as determined
in the Administrator's discretion.

            (i) "Grant Agreement" means a written document memorializing the
terms and conditions of an Award granted pursuant to the Plan and shall
incorporate the terms of the Plan.

3. Administration

            (a) Administration of the Plan. The Plan shall be administered by
the Board or by such committee or committees as may be appointed by the Board
from time to time. To the extent allowed by applicable state law, the Board by
resolution may authorize an officer or officers to grant Awards (other than
Stock Awards) to other officers and employees of the Company and its Affiliates,
and, to the extent of such authorization, such officer or officers shall be the
Administrator.

            (b) Powers of the Administrator. The Administrator shall have all
the powers vested in it by the terms of the Plan, such powers to include
authority, in its sole and absolute discretion, to grant Awards under the Plan,
prescribe Grant Agreements evidencing such Awards and establish programs for
granting Awards.

      The Administrator shall have full power and authority to take all other
actions necessary to carry out the purpose and intent of the Plan, including,
but not limited to, the authority to: (i) determine the eligible persons to
whom, and the time or times at which Awards shall be granted; (ii) determine the
types of Awards to be granted; (iii) determine the number of shares to be
covered by or used for reference purposes for each Award; (iv) impose such
terms, limitations, restrictions and conditions upon any such Award as the
Administrator shall deem appropriate; (v) modify, amend, extend or renew
outstanding Awards, or accept the surrender of outstanding Awards and substitute
new Awards (provided however, that, except as provided in Section 6 or 7(d) of
the Plan, any modification that would materially adversely affect any
outstanding Award shall not be made without the consent of the holder); (vi)
accelerate or otherwise change the time in which an Award may be exercised or
becomes payable and to waive or accelerate the lapse, in whole or in part, of
any restriction or condition with respect to such Award, including, but not
limited to, any restriction or condition with respect to the vesting or
exercisability of an Award following termination of any grantee's employment or
other relationship with the Company; (vii) establish objectives and conditions,
if any, for earning Awards and determining whether Awards will be paid after the
end of a performance period; and (viii) for any purpose, including but not
limited to, qualifying for preferred tax treatment under foreign tax laws or
otherwise complying with the regulatory requirements of local or foreign
jurisdictions, to establish, amend, modify, administer or terminate sub-plans,
and prescribe, amend and rescind rules and regulations relating to such
sub-plans.

                                      - 2-
<PAGE>

      The Administrator shall have full power and authority, in its sole and
absolute discretion, to administer and interpret the Plan, Grant Agreements and
all other documents relevant to the Plan and Awards issued thereunder, and to
adopt and interpret such rules, regulations, agreements, guidelines and
instruments for the administration of the Plan and for the conduct of its
business as the Administrator deems necessary or advisable.

            (c) Non-Uniform Determinations. The Administrator's determinations
under the Plan (including without limitation, determinations of the persons to
receive Awards, the form, amount and timing of such Awards, the terms and
provisions of such Awards and the Grant Agreements evidencing such Awards) need
not be uniform and may be made by the Administrator selectively among persons
who receive, or are eligible to receive, Awards under the Plan, whether or not
such persons are similarly situated.

            (d) Limited Liability. To the maximum extent permitted by law, no
member of the Administrator shall be liable for any action taken or decision
made in good faith relating to the Plan or any Award thereunder.

            (e) Indemnification. To the maximum extent permitted by law and by
the Company's charter and by-laws, the members of the Administrator shall be
indemnified by the Company in respect of all their activities under the Plan.

            (f) Effect of Administrator's Decision. All actions taken and
decisions and determinations made by the Administrator on all matters relating
to the Plan pursuant to the powers vested in it hereunder shall be in the
Administrator's sole and absolute discretion and shall be conclusive and binding
on all parties concerned, including the Company, its stockholders, any
participants in the Plan and any other employee, consultant, or director of the
Company, and their respective successors in interest.

4. Shares Available for the Plan

      Subject to adjustments as provided in Section 7(d) of the Plan, the shares
of Common Stock that may be issued with respect to Awards granted under the Plan
shall not exceed an aggregate of 600,000 shares of Common Stock. The Company
shall reserve such number of shares for Awards under the Plan, subject to
adjustments as provided in Section 7(d) of the Plan. If any Award, or portion of
an Award, under the Plan expires or terminates unexercised, becomes
unexercisable or is forfeited or otherwise terminated, surrendered or canceled
as to any shares, or if any shares of Common Stock are surrendered to the
Company in connection with any Award (whether or not such surrendered shares
were acquired pursuant to any Award), or if any shares are withheld by the
Company, the shares subject to such Award and the surrendered and withheld
shares shall thereafter be available for further Awards under the Plan;
provided, however, that any such shares that are surrendered to or withheld by
the Company in connection with any Award or that are otherwise forfeited after
issuance shall not be available for purchase pursuant to incentive stock options
intended to qualify under Code section 422.

5. Participation

      Participation in the Plan shall be open to all employees, officers, and
directors of, and other individuals providing bona fide services to or for, the
Company, or of any Affiliate of the Company, as may be selected by the
Administrator from time to time. The Administrator may also grant Awards to
individuals in connection with hiring, retention or otherwise, prior to the date
the individual first performs services for the Company or an Affiliate, provided
that such Awards shall not become vested or exercisable prior to the date the
individual first commences performance of such services.

6. Awards

      The Administrator, in its sole discretion, establishes the terms of all
Awards granted under the Plan. Awards may be granted individually or in tandem
with other types of Awards. All Awards are subject to the terms and conditions
provided in the Grant Agreement. The Administrator may permit or require a
recipient of an Award to defer such individual's receipt of the payment of cash
or the delivery of Common Stock that would otherwise be due to such individual
by virtue of the exercise of, payment of, or lapse or waiver of restrictions
respecting, any Award. If any such payment deferral is required or permitted,
the Administrator shall, in its sole discretion, establish rules and procedures
for such payment deferrals.

                                      - 3-
<PAGE>

            (a) Stock Options. The Administrator may from time to time grant to
eligible participants Awards of incentive stock options as that term is defined
in Code section 422 or nonstatutory stock options; provided, however, that
Awards of incentive stock options shall be limited to employees of the Company
or of any current or hereafter existing "parent corporation" or "subsidiary
corporation," as defined in Code sections 424(e) and (f), respectively, of the
Company. Options intended to qualify as incentive stock options under Code
section 422 must have an exercise price at least equal to Fair Market Value as
of the date of grant, but nonstatutory stock options may be granted with an
exercise price less than Fair Market Value. No stock option shall be an
incentive stock option unless so designated by the Administrator at the time of
grant or in the Grant Agreement evidencing such stock option.

            (b) Stock Appreciation Rights. The Administrator may from time to
time grant to eligible participants Awards of Stock Appreciation Rights ("SAR").
An SAR entitles the grantee to receive, subject to the provisions of the Plan
and the Grant Agreement, a payment having an aggregate value equal to the
product of (i) the excess of (A) the Fair Market Value on the exercise date of
one share of Common Stock over (B) the base price per share specified in the
Grant Agreement, times (ii) the number of shares specified by the SAR, or
portion thereof, which is exercised. Payment by the Company of the amount
receivable upon any exercise of an SAR may be made by the delivery of Common
Stock or cash, or any combination of Common Stock and cash, as determined in the
sole discretion of the Administrator. If upon settlement of the exercise of an
SAR a grantee is to receive a portion of such payment in shares of Common Stock,
the number of shares shall be determined by dividing such portion by the Fair
Market Value of a share of Common Stock on the exercise date. No fractional
shares shall be used for such payment and the Administrator shall determine
whether cash shall be given in lieu of such fractional shares or whether such
fractional shares shall be eliminated.

            (c) Stock Awards. The Administrator may from time to time grant
restricted or unrestricted stock Awards to eligible participants in such
amounts, on such terms and conditions, and for such consideration, including no
consideration or such minimum consideration as may be required by law, as it
shall determine. A stock Award may be paid in Common Stock, in cash, or in a
combination of Common Stock and cash, as determined in the sole discretion of
the Administrator.

            (d) Phantom Stock. The Administrator may from time to time grant
Awards to eligible participants denominated in stock-equivalent units ("phantom
stock") in such amounts and on such terms and conditions as it shall determine.
Phantom stock units granted to a participant shall be credited to a bookkeeping
reserve account solely for accounting purposes and shall not require a
segregation of any of the Company's assets. An Award of phantom stock may be
settled in Common Stock, in cash, or in a combination of Common Stock and cash,
as determined in the sole discretion of the Administrator. Except as otherwise
provided in the applicable Grant Agreement, the grantee shall not have the
rights of a stockholder with respect to any shares of Common Stock represented
by a phantom stock unit solely as a result of the grant of a phantom stock unit
to the grantee.

            (e) Performance Awards. The Administrator may, in its discretion,
grant performance awards which become payable on account of attainment of one or
more performance goals established by the Administrator. Performance awards may
be paid by the delivery of Common Stock or cash, or any combination of Common
Stock and cash, as determined in the sole discretion of the Administrator.
Performance goals established by the Administrator may be based on the Company's
or an Affiliate's operating income or one or more other business criteria
selected by the Administrator that apply to an individual or group of
individuals, a business unit, or the Company or an Affiliate as a whole, over
such performance period as the Administrator may designate.

            (f) Other Stock-Based Awards. The Administrator may from time to
time grant other stock-based awards to eligible participants in such amounts, on
such terms and conditions, and for such consideration, including no
consideration or such minimum consideration as may be required by law, as it
shall determine. Other stock-based awards may be denominated in cash, in Common
Stock or other securities, in stock-equivalent units, in stock appreciation
units, in securities or debentures convertible into Common Stock, or in any
combination of the foregoing and may be paid in Common Stock or other
securities, in cash, or in a combination of Common Stock or other securities and
cash, all as determined in the sole discretion of the Administrator.

                                      - 4-
<PAGE>

7. Miscellaneous

            (a) Withholding of Taxes. Grantees and holders of Awards shall pay
to the Company or its Affiliate, or make provision satisfactory to the
Administrator for payment of, any taxes required to be withheld in respect of
Awards under the Plan no later than the date of the event creating the tax
liability. The Company or its Affiliate may, to the extent permitted by law,
deduct any such tax obligations from any payment of any kind otherwise due to
the grantee or holder of an Award. In the event that payment to the Company or
its Affiliate of such tax obligations is made in shares of Common Stock, such
shares shall be valued at Fair Market Value on the applicable date for such
purposes and shall not exceed in amount the minimum statutory tax withholding
obligation.

            (b) Loans. The Company or its Affiliate may make or guarantee loans
to grantees to assist grantees in exercising Awards and satisfying any
withholding tax obligations.

            (c) Transferability. Except as otherwise determined by the
Administrator, and in any event in the case of an incentive stock option or a
stock appreciation right granted with respect to an incentive stock option, no
Award granted under the Plan shall be transferable by a grantee otherwise than
by will or the laws of descent and distribution. Unless otherwise determined by
the Administrator in accord with the provisions of the immediately preceding
sentence, an Award may be exercised during the lifetime of the grantee, only by
the grantee or, during the period the grantee is under a legal disability, by
the grantee's guardian or legal representative.

            (d) Adjustments for Corporate Transactions and Other Events.

            (i) Stock Dividend, Stock Split and Reverse Stock Split. In the
            event of a stock dividend of, or stock split or reverse stock split
            affecting, the Common Stock, (A) the maximum number of shares of
            such Common Stock as to which Awards may be granted under this Plan,
            as provided in Section 4 of the Plan, and (B) the number of shares
            covered by and the exercise price and other terms of outstanding
            Awards, shall, without further action of the Board, be adjusted to
            reflect such event unless the Board determines, at the time it
            approves such stock dividend, stock split or reverse stock split,
            that no such adjustment shall be made. The Administrator may make
            adjustments, in its discretion, to address the treatment of
            fractional shares and fractional cents that arise with respect to
            outstanding Awards as a result of the stock dividend, stock split or
            reverse stock split.

            (ii) Non-Change in Control Transactions. Except with respect to the
            transactions set forth in Section 7(d)(i), in the event of any
            change affecting the Common Stock, the Company or its
            capitalization, by reason of a spin-off, split-up, dividend,
            recapitalization, merger, consolidation or share exchange, other
            than any such change that is part of a transaction resulting in a
            Change in Control of the Company, the Administrator, in its
            discretion and without the consent of the holders of the Awards, may
            make (A) appropriate adjustments to the maximum number and kind of
            shares reserved for issuance or with respect to which Awards may be
            granted under the Plan, as provided in Section 4 of the Plan, and
            (B) any adjustments in outstanding Awards, including but not limited
            to modifying the number, kind and price of securities subject to
            Awards.

            (iii) Change in Control Transactions. In the event of any
            transaction resulting in a Change in Control of the Company,
            outstanding stock options and other Awards that are payable in or
            convertible into Common Stock under this Plan will terminate upon
            the effective time of such Change in Control unless provision is
            made in connection with the transaction for the continuation or
            assumption of such Awards by, or for the substitution of the
            equivalent awards of, the surviving or successor entity or a parent
            thereof. In the event of such termination, the holders of stock
            options and other Awards under the Plan will be permitted,
            immediately before the Change in Control, to exercise or convert all
            portions of such stock options or other Awards under the Plan that
            are then exercisable or convertible or which become exercisable or
            convertible upon or prior to the effective time of the Change in
            Control. If, immediately before the Change in Control, no stock of
            the Company is readily tradeable on an established securities market
            or otherwise, and the vesting of an Award or Awards pursuant to this
            Section 7(d)(iii) would be treated as a "parachute payment" (as
            defined in section 280G of the Code), then such Award or Awards
            shall not vest unless the requirements of the shareholder approval
            exemption of section 280G(b)(5) of the Code have been satisfied with
            respect to such Award or Awards.

                                      - 5-
<PAGE>

            (iv) Unusual or Nonrecurring Events. The Administrator is authorized
            to make, in its discretion and without the consent of holders of
            Awards, adjustments in the terms and conditions of, and the criteria
            included in, Awards in recognition of unusual or nonrecurring events
            affecting the Company, or the financial statements of the Company or
            any Affiliate, or of changes in applicable laws, regulations, or
            accounting principles, whenever the Administrator determines that
            such adjustments are appropriate in order to prevent dilution or
            enlargement of the benefits or potential benefits intended to be
            made available under the Plan.

            (e) Substitution of Awards in Mergers and Acquisitions. Awards may
be granted under the Plan from time to time in substitution for awards held by
employees, officers, consultants or directors of entities who become or are
about to become employees, officers, consultants or directors of the Company or
an Affiliate as the result of a merger or consolidation of the employing entity
with the Company or an Affiliate, or the acquisition by the Company or an
Affiliate of the assets or stock of the employing entity. The terms and
conditions of any substitute Awards so granted may vary from the terms and
conditions set forth herein to the extent that the Administrator deems
appropriate at the time of grant to conform the substitute Awards to the
provisions of the awards for which they are substituted.

            (f) Other Agreements. As a condition precedent to the grant of any
Award under the Plan, the exercise pursuant to such an Award, or to the delivery
of certificates for shares issued pursuant to any Award, the Administrator may
require the grantee or the grantee's successor or permitted transferee, as the
case may be, to become a party to a stock restriction agreement, shareholders'
agreement, voting trust agreement or other agreements regarding the Common Stock
of the Company in such form(s) as the Administrator may determine from time to
time.

            (g) Termination, Amendment and Modification of the Plan. The Board
may terminate, amend or modify the Plan or any portion thereof at any time.

            (h) Non-Guarantee of Employment or Service. Nothing in the Plan or
in any Grant Agreement thereunder shall confer any right on an individual to
continue in the service of the Company or shall interfere in any way with the
right of the Company to terminate such service at any time with or without cause
or notice and whether or not such termination results in (i) the failure of any
Award to vest; (ii) the forfeiture of any unvested or vested portion of any
Award; and/or (iii) any other adverse effect on the individual's interests under
the Plan.

            (i) Compliance with Securities Laws; Listing and Registration. If at
any time the Administrator determines that the delivery of Common Stock under
the Plan is or may be unlawful under the laws of any applicable jurisdiction, or
Federal or state securities laws, the right to exercise an Award or receive
shares of Common Stock pursuant to an Award shall be suspended until the
Administrator determines that such delivery is lawful. The Company shall have no
obligation to effect any registration or qualification of the Common Stock under
Federal, state or foreign laws. The Company may require that a grantee, as a
condition to exercise of an Award, and as a condition to the delivery of any
share certificate, make such written representations (including representations
to the effect that such person will not dispose of the Common Stock so acquired
in violation of Federal, state or foreign securities laws) and furnish such
information as may, in the opinion of counsel for the Company, be appropriate to
permit the Company to issue the Common Stock in compliance with applicable
Federal, state or foreign securities laws. The stock certificates for any shares
of Common Stock issued pursuant to this Plan may bear a legend restricting
transferability of the shares of Common Stock unless such shares are registered
or an exemption from registration is available under the Securities Act of 1933,
as amended, and applicable state or foreign securities laws.

                                      - 6-
<PAGE>

            (h) No Trust or Fund Created. Neither the Plan nor any Award shall
create or be construed to create a trust or separate fund of any kind or a
fiduciary relationship between the Company and a grantee or any other person. To
the extent that any grantee or other person acquires a right to receive payments
from the Company pursuant to an Award, such right shall be no greater than the
right of any unsecured general creditor of the Company.

            (i) Governing Law. The validity, construction and effect of the
Plan, of Grant Agreements entered into pursuant to the Plan, and of any rules,
regulations, determinations or decisions made by the Administrator relating to
the Plan or such Grant Agreements, and the rights of any and all persons having
or claiming to have any interest therein or thereunder, shall be determined
exclusively in accordance with applicable federal laws and the laws of the State
of Maryland, without regard to its conflict of laws principles.

            (j) Effective Date; Termination Date. The Plan is effective as of
the date on which the Plan is adopted by the Board, subject to approval of the
stockholders within twelve months before or after such date. No Award shall be
granted under the Plan after the close of business on the day immediately
preceding the tenth anniversary of the effective date of the Plan, or if
earlier, the tenth anniversary of the date this Plan is approved by the
stockholders. Subject to other applicable provisions of the Plan, all Awards
made under the Plan prior to such termination of the Plan shall remain in effect
until such Awards have been satisfied or terminated in accordance with the Plan
and the terms of such Awards.

                                  PLAN APPROVAL

Date Approved by the Board:
                            ----------------------------------------------------

Date Approved by the Stockholders:
                                   ---------------------------------------------

                                      - 7-
<PAGE>

                                   APPENDIX A
                       PROVISIONS FOR CALIFORNIA RESIDENTS

      With respect to Awards granted to California residents prior to a public
offering of capital stock of the Company that is effected pursuant to a
registration statement filed with, and declared effective by, the Securities and
Exchange Commission under the Securities Act of 1933, as amended, and only to
the extent required by applicable law, the following provisions shall apply
notwithstanding anything in the Plan or a Grant Agreement to the contrary:

1. Stock appreciation rights Awards under to Section 6(b) of the Plan or phantom
stock Awards under Section 6(d) of the Plan, which may be settled in shares of
Company stock, shall not be issued to California residents.

2. With respect to any Award granted in the form of a stock option pursuant to
Section 6(a) of the Plan:

      (a) The Award shall provide an exercise price which is not less than 85%
      of the Fair Market Value of the underlying security at the time the option
      is granted, except that the price shall be not less than 110% of the Fair
      Market Value in the case of any person who owns securities possessing more
      than 10% of the total combined voting power (as defined in Section 194.5
      of the California Corporations Code) of all classes of securities of the
      issuer or its parent or subsidiaries possessing voting power.

      (b) The exercise period shall be no more than 120 months from the date the
      option is granted.

      (c) The options shall be non-transferable other than by will, by the laws
      of descent and distribution, or, if and to the extent permitted under the
      Grant Agreement, as permitted by Rule 701 of the Securities Act of 1933,
      as amended (17 C.F.R. 230.701).

      (d) The Award recipient shall have the right to exercise at the rate of at
      least 20% per year over 5 years from the date the option is granted,
      subject to reasonable conditions such as continued employment. However, in
      the case of an option granted to officers, directors, managers or
      consultants of the Company or the issuer of the underlying security or any
      of its affiliates, the option may become fully exercisable, subject to
      reasonable conditions such as continued employment, at any time or during
      any period established by the issuer of the option or the issuer of the
      underlying security or any of its affiliates.

      (e) Unless employment is terminated for "cause" as defined by applicable
      law, the terms of the Plan or Grant Agreement, or a contract of
      employment, the right to exercise the option in the event of termination
      of employment, to the extent that the Award recipient is entitled to
      exercise on the date employment terminates, will be as follows:

                  (1) At least 6 months from the date of termination if
                  termination was caused by death or disability.

                  (2) At least 30 days from the date of termination if
                  termination was caused by other than death or disability.

3. With respect to an Award, granted pursuant to Section 6(c) of the Plan, that
provides the Award recipient the right to purchase stock:

      (a) The Award shall provide a purchase price which is not less than 85% of
      the Fair Market Value of the security at the time the Award recipient is
      granted the right to purchase securities under the Grant Agreement, or at
      the time the purchase is consummated; or, not less than 100% of the Fair
      Market Value of the security either at the time the Award recipient is
      granted the right to purchase securities under the Grant Agreement, or at
      the time the purchase is consummated, in the case of any person who owns
      securities possessing more than 10% of the total combined voting power (as
      defined in Section 194.5 of the California Corporations Code) of all
      classes of securities of the issuer or its parent or subsidiaries
      possessing voting power.

                                      A-1
<PAGE>

      (b) The Award shall be non-transferable other than by will, by the laws of
      descent and distribution, or, if and to the extent permitted under the
      Grant Agreement, as permitted by Rule 701 of the Securities Act of 1933,
      as amended (17 C.F.R. 230.701).

4. The Plan shall have a termination date of not more than 10 years from the
date the Plan is adopted by the Board or the date the Plan is approved by the
security holders, whichever is earlier.

5. Security holders representing a majority of the Company's outstanding
securities entitled to vote must approve the Plan within 12 months before or
after the date the Plan is adopted. Any option exercised or any securities
purchased before security holder approval is obtained must be rescinded if
security holder approval is not obtained within 12 months before or after the
Plan is adopted. Such securities shall not be counted in determining whether
such approval is obtained.

6. At the discretion of the Administrator, the Company may reserve to itself
and/or its assignee(s) in the Grant Agreement or any applicable stock
restriction agreement a right to repurchase securities held by an Award
recipient upon such Award recipient's termination of employment at any time
within 90 days after such Award recipient's termination date (or in the case of
securities issued upon exercise of an option after the termination date, within
90 days after the date of such exercise) for cash or cancellation of purchase
money indebtedness, at:

      (A) no less than the Fair Market Value of such securities as of the date
      of the Award recipient's termination of employment, provided, that such
      right to repurchase securities terminates when the Company's securities
      have become publicly traded; or

      (B) the Award recipient's original purchase price, provided, that such
      right to repurchase securities at the original purchase price lapses at
      the rate of at least 20% of the securities per year over 5 years from the
      date the option is granted (without respect to the date the option was
      exercised or became exercisable).

      The securities held by an officer, director, manager or consultant of the
Company or an affiliate may be subject to additional or greater restrictions.

7. The Company will provide financial statements to each Award recipient
annually during the period such individual has Awards outstanding, or as
otherwise required under Section 260.140.46 of Title 10 of the California Code
of Regulations. Notwithstanding the foregoing, the Company will not be required
to provide such financial statements to Award recipients when issuance is
limited to key employees whose services in connection with the Company assure
them access to equivalent information.

8. The Company will comply with Section 260.140.1 of Title 10 of the California
Code of Regulations with respect to the voting rights of Common Stock and
similar equity securities.

9. The Plan is intended to comply with Section 25102(o) of the California
Corporations Code. Any provision of this Plan which is inconsistent with Section
25102(o), including without limitation any provision of this Plan that is more
restrictive than would be permitted by Section 25102(o) as amended from time to
time, shall, without further act or amendment by the Board, be reformed to
comply with the provisions of Section 25102(o). If at any time the Administrator
determines that the delivery of Common Stock under the Plan is or may be
unlawful under the laws of any applicable jurisdiction, or federal or state
securities laws, the right to exercise an Award or receive shares of Common
Stock pursuant to an Award shall be suspended until the Administrator determines
that such delivery is lawful. The Company shall have no obligation to effect any
registration or qualification of the Common Stock under federal or state laws.

                                      A-2

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