Document:

Technical Agreement between Viragen International, Inc. and Orphan Australia

 Exhibit 10.3 
 Technical Agreement 
 Viragen 
 & 
 Orphan Australia 
  

					
	1	  	PURPOSE	  	2
			
	2	  	CONFIDENTIALITY	  	2
			
	3	  	MANUFACTURING AND PACKAGING	  	2
			
	4	  	REPROCESSING	  	2
			
	5	  	BATCH RELEASE DOCUMENTATION	  	2
			
	6	  	RETAINED SAMPLES AND RECORDS	  	3
			
	7	  	PRODUCT TESTING AND RELEASE	  	3
			
	8	  	RECEIPT AND DISTRIBUTION BY OA	  	3
			
	9	  	QUALITY AUDITS	  	4
			
	10	  	COMPLAINTS	  	4
			
	11	  	RECALL	  	4
			
	12	  	VALIDATION	  	4
			
	13	  	CHANGE CONTROL	  	5
			
	14	  	SUBCONTRACTING	  	5
			
	15	  	DURATION OF AGREEMENT	  	5
			
	16	  	ENTIRE AGREEMENT	  	5
			
	17	  	APPROVAL SIGNATURES	  	6

  

	1	PURPOSE 

 This Technical Agreement is between:

 Viragen International, Inc. 
 865 SW 78th Avenue, Suite 100, Plantation, Florida 33324 
 Phone: 954-233-8746 Fax: 954-233-1414 
 Hereinafter called: VGN 
 AND

 Orphan Australia 
 48 Kangan Drive Berwick VIC 3806 Australia 
 Phone: +61 3 9769 5744 Fax: +61 3 9769 5944 
 Hereinafter called: OA 
 This Agreement outlines the Quality
Assurance responsibilities of VGN and OA (together constituting the Parties) for the manufacture and distribution of the Product in Australia and is referred to in the License Agreement between the Parties. 
  

	2	CONFIDENTIALITY 

 Both Parties will treat as
confidential all data supplied by the other party in connection with the manufacture of the Products, and identified as confidential, and not themselves use (except for the purposes of manufacture stated herein), or disclose, data to a third party
except for registration purposes. 
  

	3	MANUFACTURING AND PACKAGING 

  

	3.1	VGN will be responsible for the manufacture, packaging and release for sale of the Product in accordance with the approved license application and its prevailing Standard Operating
Procedures (SOPs). 

  

	3.2	VGN will supply to OA Product meeting the Australian approved specifications. 

  

	4.	REPROCESSING 

 Viragen will not reprocess any
Product at any stage of manufacturing. 
  

	5.	BATCH RELEASE DOCUMENTATION 

 VGN agrees to provide, for each batch
of Product supplied to OA, a Certificate of Analysis certifying: 
  

					
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	Technical Agreement	  		  	

	 	•	 	The batch has been manufactured and tested according to the relevant Market Authorisation and confirmed to meet all specifications 

  

	 	•	 	Released by a Qualified Person 

  

	 	•	 	The form and details of such document shall be mutually agreed by the Parties. 

  

	6.	RETAINED SAMPLES AND RECORDS 

  

	6.1	VGN agrees to ensure that reference and retained samples for each lot of Product supplied to OA are kept for a period of two years after expiry of the finished Product lot. The
amount of reference samples must be sufficient for at least two (2) analyses, excluding sterility testing. 

  

	6.2	Batch records will be retained by VGN for at least seven (7) years. 

  

	7.	PRODUCT TESTING AND RELEASE 

  

	7.1	Before shipping Products to OA, VGN will test Products according to approved testing procedures. 

  

	7.2	VGN will be responsible for testing and releasing finished Products for shipment to OA. 

  

	7.3	Release of Product for shipment to OA will include documented release and certification by a Qualified Person and said documented Release of Product is sufficient to allow OA to
commence selling the Product in the Territory. 

  

	7.4	The Qualified Person releasing the batch of Product for sale will ensure that each batch has been manufactured and checked for compliance with the requirements of the approved
Market Authorization 

  

	7.5	Any deviation from the process during manufacture must be explained and documented in the batch records and approved by VGN Quality Assurance. 

  

	7.6	VGN is responsible for investigating any test result, which fails to meet specification. Each investigation report must include corrective action, where identifiable, and be
approved by VGN Quality Assurance. In addition, see Article 9.2 through and including Article 9.12 of the License Agreement. 

  

	7.7	VGN will notify OA if any problems are discovered that may impact on batches already shipped to OA. 

  

	8.	RECEIPT AND DISTRIBUTION BY OA 

  

	8.1	OA will positively identify all batches of the Product received through a physical inspection of the external packaging (shipping cases) of the Product to confirm there is no damage
from the shipping process and the external labeling to confirm that it is current. 

  

					
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	Technical Agreement	  		  	

	8.2	Any notification to the Registration Authorities with respect to post-distribution extraordinary events or significant deviations will be the responsibility of OA.

  

	9.	QUALITY AUDITS 

  

	9.1	OA reserves the right to inspect areas of VGN’s premises, or those of its contractors, connected with the manufacture and testing of the Product during normal business hours
and after giving reasonable written notice and causing minimum disruption to the operations. 

  

	9.2	VGN reserves the right to inspect areas of OA’s premises connected with the storage and distribution of Product during normal business hours and after giving reasonable written
notice and causing minimum disruption to the operations. 

  

	9.3	Refer to the License Agreement for more details on site inspections, reports and communications. 

  

	10.	COMPLAINTS 

  

	10.1	OA will have the responsibility of handling complaints with the assistance, as required, of VGN. 

  

	10.2	All Technical complaints received by OA will be forwarded for evaluation to VGN who will respond in a reasonable period, approximately ten working (10) days. All such
complaints will be entered into VGN’s complaint system. 

  

	10.3	Final disposition of complaints will be the responsibility of OA in consultation with VGN. 

  

	10.4	Refer to the License Agreement and Safety Agreement for more details on handling of Product Complaints. 

  

	11.	RECALL 

  

	11.1	OA is responsible for the recall of Product distributed in the Territory. In the event of a recall, VGN will provide support in areas of analysis and documentation review at no cost
to OA. 

  

	11.2	VGN will provide OA with such information required as the result of a regulatory agency inspection which may involve the Product, Product Recall, complaint or product investigation,
and agrees to courier said information within forty-eight (48) hours or as mutually agreed upon in writing. 

  

	11.3	Refer to the License Agreement and the Safety Agreement for details of handling Product Recall activities. 

  

	12.	VALIDATION 

  

	12.1	VGN is responsible for assuring that equipment and facilities used in the manufacture of the Product have been appropriately validated. 

  

					
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	Technical Agreement	  		  	

	12.2	VGN is responsible for process validation for the manufacture of the Product. 

  

	12.3	OA is responsible for the use of appropriately validated shipping configuration(s) for the Product. 

  

	13.	CHANGE CONTROL 

  

	13.1	VGN will communicate any major or significant change affecting the quality of the Product or approved regulatory information to OA prior to implementation of the change. These
changes include production and testing sites, formulation, raw material or its source, method of manufacture, equipment, packaging, specifications of active ingredient and finished Product, analytical control methods (excluding pharmacopoeia
updates), labeling, shelf life, etc. 

  

	13.2	OA will be responsible for communicating this information to the competent authority for pre-approval before the changes are made, or in accordance with the regulations in each
Country in the Territory. 

  

	13.3	VGN will communicate all changes to the Product required by other Registration Authorities and will keep OA apprised of its plan to make such changes, including any Registration
activities that may be required. 

  

	14	SUBCONTRACTING 

  

	14.1	In the event that VGN arranges third party manufacture or packaging of the Product, VGN is responsible for ensuring that such third parties will perform all actions and provide
information such that VGN can fulfill the requirements of the Technical Agreement. 

  

	15.	DURATION OF AGREEMENT 

 This Technical Agreement
will commence from the Effective Date and will remain valid until the expiration or termination of the License Agreement between VGN and OA. This Agreement may be modified as required with the consent of both Parties. 
  

	16.	ENTIRE AGREEMENT 

 This Agreement and the Safety
Agreement and the License Agreement between the Parties contain the entire understanding of the Parties with respect to the subject matter hereof. All express or implied agreements and understandings, either oral or written, heretofore made are
expressly merged in and made a part of this Agreement. This Agreement may be amended, or any term hereof modified, only by a written instrument duly executed by both Parties hereto. In the event of conflict between this Agreement and the License
Agreement, the terms of the License Agreement shall prevail. 
  

					
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	17.	APPROVAL SIGNATURES 

 On behalf of OA and VGN, we
agree to the conditions and respective responsibilities as set out in this document. 
  

					
	SIGNED for and on behalf of	  	)	  	
	Viragen International, Inc. by:	  	)	  	Signature
			
		  		  	Print Name Charles A. Rice
	Date: December 21, 2006	  		  	
		  		  	Title President & CEO
			
	SIGNED for and on behalf of	  	)	  	
	Orphan Australia Pty Ltd by:	  	)	  	Signature
			
		  		  	Print Name
	Date: December 22, 2006	  		  	
		  		  	Title: Scientific Affairs Manager

  

					
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 Appendix 1: RESPONSIBILITY CHART 
 Viragen and OA 
 Schedule of Technical Responsibilities 
 OA     Approved
by:                                       
     Date: December 22, 2006 
 VGN   Approved
by:                                       
     Date: December 21, 2006 
  

					
	 	  	OA	  	VGN
	Formulation	  	 ̈	  	n
			
	Manufacturing instructions	  	 ̈	  	n
			
	Specifications for raw materials	  	 ̈	  	n
			
	raw materials supply and testing	  	 ̈	  	n
			
		  	 ̈	  	n
			
		  	 ̈	  	n
			
	In process controls	  	 ̈	  	n
			
	Specifications for bulk material	  	 ̈	  	n
			
	Bulk testing and release	  	 ̈	  	n
			
	Specifications for packaging material	  	 ̈	  	n
			
	Artwork for printed material	  	n	  	n
			
	Packaging material supply & testing	  	 ̈	  	n
			
	Retained samples raw materials	  	 ̈	  	n
			
	Retained samples bulk	  	 ̈	  	n
			
	Retained samples finished product	  	 ̈	  	n
			
	Specifications for finished product	  	 ̈	  	n
			
	Testing and release for shipment	  	 ̈	  	n
			
	Release for sale	  	 ̈	  	n
			
	Storage and shipping of finished product	  	n	  	 ̈
			
	Complaints	  	n	  	n
			
	Recall	  	n	  	n
			
	Stability testing	  	 ̈	  	n
			
	Process validation	  	 ̈	  	n
			
	Disposal of samples or rejected printed material or finished product	  	n	  	n

  

					
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	Technical AgreementDutchess Registration Rights Agreement dated October 18, 2005

    
      

    

     

    REGISTRATION
      RIGHTS AGREEMENT

     

    Registration
      Rights Agreement (the “Agreement”),
      dated as
      of December 4, 2006, by and between Tank Sports, Inc., a corporation organized
      under the laws of State of California, with its principal executive office
      at
      10925 Schmidt Road, El Monte CA 91733 (the “Company”),
      and
      Dutchess Private Equities Fund, L.P., a Delaware limited partnership with its
      principal office at 50 Commonwealth Avenue, Suite 2, Boston, MA 02116 (the
      “Holder”).

     

    Whereas, in
      connection with the Investment Agreement by and between the Company and the
      Investor of this date (the “Investment
      Agreement”),
      the
      Company has agreed to issue and sell to the Investor an indeterminate number
      of
      shares of the Company’s Common Stock, $.001 par value per share (the
“Common
      Stock”),
      to be
      purchased pursuant to the terms and subject to the conditions set forth in
      the
      Investment Agreement; and

     

    Whereas,
      to
      induce
      the Investor to execute and deliver the Investment Agreement, the Company has
      agreed to provide certain registration rights under the Securities Act of 1933,
      as amended, and the rules and regulations thereunder, or any similar successor
      statute (collectively, the “1933
      Act”),
      and
      applicable state securities laws, with respect to the shares of Common Stock
      issuable pursuant to the Investment Agreement.

     

    Now
      therefore, in consideration of the foregoing promises and the mutual covenants
      contained hereinafter and other good and valuable consideration, the receipt
      and
      sufficiency of which are hereby acknowledged, the Company and the Investor
      hereby agree as follows:

     

    Section
      1. DEFINITIONS.

     

    As
      used
      in this Agreement, the following terms shall have the following
      meanings: “Execution
      Date”
      means
      the date of this Agreement set forth above.

     

    “Investor”
      means
      Dutchess Private Equities Fund, L.P., a Delaware limited
      partnership.

     

    “Person”
      means a
      corporation, a limited liability company, an association, a partnership, an
      organization, a business, an individual, a governmental or political subdivision
      thereof or a governmental agency.

     

    “Potential
      Material Event”
      means
      any of the following: (i)
      the
      possession by the Company of material information not ripe for disclosure in
      the
      Registration Statement, which shall be evidenced by determinations in good
      faith
      by the Board of Directors of the Company that disclosure of such information
      in
      the Registration Statement would be detrimental to the business and affairs
      of
      the Company, or (ii)
      any
      material engagement or activity by the Company which would, in the good faith
      determination of the Board of Directors of the Company, be adversely affected
      by
      disclosure in the Registration Statement at such time, which determination
      shall
      be accompanied by a good faith determination by the Board of Directors of the
      Company that the Registration Statement would be materially misleading absent
      the inclusion of such information.

     

    “Principal
      Market”
      shall
      mean The American Stock Exchange, National Association of Securities Dealer’s,
      Inc., Over-the-Counter electronic bulletin board, the Nasdaq National Market
      or
      The Nasdaq SmallCap Market whichever is the principal market on which the Common
      Stock of the Company is listed.

     

    “Register,” “Registered,”
      and
“Registration”
      refer to
      the Registration effected by preparing and filing one (1) or more Registration
      Statements in compliance with the 1933 Act and pursuant to Rule 415 under the
      1933 Act or any successor rule providing for offering securities on a continuous
      basis (“Rule 415”), and the declaration or ordering of effectiveness of such
      Registration Statement(s) by the United States Securities and Exchange
      Commission (the “SEC”).

    

    
      
        
          
             

          

        

        
        

      

      
        1

        
          

        

      

      
        
        

        
        

      

    

    “Registrable
      Securities”
      means
(i)
      the
      shares of Common Stock issued or issuable pursuant to the Investment Agreement,
      and (ii)
      any
      shares of capital stock issued or issuable with respect to such shares of Common
      Stock, if any, as a result of any stock split, stock dividend, recapitalization,
      exchange or similar event or otherwise, which have not been (x)
      included
      in the Registration Statement that has been declared effective by the SEC,
      or
(y)
      sold
      under circumstances meeting all of the applicable conditions of Rule 144 (or
      any
      similar provision then in force) under the 1933 Act.

     

    “Registration
      Statement”
      means
      the registration statement of the Company filed under the 1933 Act covering
      the
      Registrable Securities.

     

    All
      capitalized terms used in this Agreement and not otherwise defined herein shall
      have the same meaning ascribed to them as in the Investment
      Agreement.

     

    Section
      2. REGISTRATION.

     

    (a) The
      Company shall, within thirty (30) days of the date of this Agreement, file
      with
      the SEC the Registration Statement or Registration Statements (as is necessary)
      on Form SB-2 (or, if such form is unavailable for such a registration, on such
      other form as is available for such registration), covering the resale of all
      of
      the Registrable Securities, which Registration Statement(s) shall state that,
      in
      accordance with Rule 416 promulgated under the 1933 Act, such Registration
      Statement also covers such indeterminate number of additional shares of Common
      Stock as may become issuable upon stock splits, stock dividends or similar
      transactions. The Company shall initially register for resale up to 30% of
      the
      total shares outstanding or the maximum amount allowed under Rule 415 (a)(1
      )(i),of Common Stock which would be issuable on the date preceding the filing
      of
      the Registration Statement based on the closing bid price of the Company’s
      Common Stock on such date and the amount reasonably calculated that represents
      Common Stock issuable to other parties as set forth in the Investment Agreement
      except to the extent that the SEC requires the share amount to be reduced as
      a
      condition of effectiveness.

     

    (b) The
      Company shall use all commercially reasonable efforts to have the Registration
      Statement(s) declared effective by the SEC within ninety (90) calendar days
      after the Execution Date.

     

    (c) The
      Company agrees not to include any other securities in the Registration Statement
      covering the Registrable Securities without Investor’s prior written consent
      which Investor may withhold in its sole discretion. Furthermore, the Company
      agrees that it will not file any other Registration Statement for other
      securities, until thirty calendar days after the Registration Statement for
      the
      Registrable Securities is declared effective by the SEC.

     

    Section
      3. RELATED
      OBLIGATIONS.

     

    At
      such
      time as the Company is obligated to prepare and file the Registration Statement
      with the SEC pursuant to Section 2(a), the Company will affect the registration
      of the Registrable Securities in accordance with the intended method of
      disposition thereof and, with respect thereto, the Company shall have the
      following obligations:

     

    (a)The
      Company shall use all commercially reasonable efforts to cause such Registration
      Statement relating to the Registrable Securities to become effective within
      ninety (90) days after the Execution Date and shall keep such Registration
      Statement effective until the earlier to occur of the date on which (A)
      the
      Investor shall have sold all the Registrable Securities; or (B)
      the
      Investor has no right to acquire any additional shares of Common Stock under
      the
      Investment Agreement (the “Registration Period”).
      The
      Registration Statement (including any amendments or supplements thereto and
      prospectuses contained therein) shall not contain 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, in light of the circumstances in
      which
      they were made, not misleading. The Company shall use all commercially
      reasonable efforts to respond to all SEC comments within seven (7) business
      days
      from receipt of such comments by the Company. The Company shall use all
      commercially reasonable efforts to cause the Registration Statement relating
      to
      the Registrable Securities to become effective no later than five (5) business
      days after notice from the SEC that the Registration Statement may be declared
      effective. The Investor agrees to provide all information which it is required
      by law to provide to the Company, including the intended method of disposition
      of the Registrable Securities, and the Company’s obligations set forth above
      shall be conditioned on the receipt of such information.

    

    
      
        
          
             

          

        

        
        

      

      
        2

        
          

        

      

      
        
        

        
        

      

    

    (b) The
      Company shall prepare and file with the SEC such amendments (including
      post-effective amendments) and supplements to the Registration Statement and
      the
      prospectus used in connection with such Registration Statement, which prospectus
      is to be filed pursuant to Rule 424 promulgated under the 1933 Act, as may
      be
      necessary to keep such Registration Statement effective during the Registration
      Period, and, during such period, comply with the provisions of the 1933 Act
      with
      respect to the disposition of
      all
      Registrable Securities of the Company covered by such Registration Statement
      until such time as all
      of such
      Registrable Securities shall have been disposed of in accordance with the
      intended methods of disposition by the Investor thereof as set forth in such
      Registration Statement. In the event the number of shares of Common Stock
      covered by the Registration Statement filed pursuant to this Agreement is at
      any
      time insufficient to cover all of the Registrable Securities, the Company shall
      amend such Registration Statement, or file a new Registration Statement (on
      the
      short form available therefor, if applicable), or both, so as to cover all
      of
      the Registrable Securities, in each case, as soon as practicable, but in any
      event within thirty (30) calendar days after the necessity therefor arises
      (based on the then Purchase Price of the Common Stock and other relevant factors
      on which the Company reasonably elects to rely), assuming the Company has
      sufficient authorized shares at that time, and if it does not, within thirty
      (30) calendar days after such shares are authorized. The Company shall use
      commercially reasonable efforts to cause such amendment and/or new Registration
      Statement to become effective as soon as practicable following the filing
      thereof.

     

    (c) The
      Company shall make available to the Investor whose Registrable Securities are
      included in any Registration Statement and its legal counsel without charge
      (i)
      promptly
      after the same is prepared and filed with the SEC at least one (1) copy of
      such
      Registration Statement and any amendment(s) thereto, including financial
      statements and schedules, all documents incorporated therein by reference and
      all exhibits, the prospectus included in such Registration Statement (including
      each preliminary prospectus) and, with regards to such Registration
      Statement(s), any correspondence by or on behalf of the Company to the SEC
      or
      the staff of the SEC and any correspondence from the SEC or the staff of the
      SEC
      to the Company or its representatives; (ii)
      upon
      the
      effectiveness of any Registration Statement, the Company shall make available
      copies of the prospectus, via EDGAR, included in such Registration Statement
      and
      all amendments and supplements thereto; and (iii)
      such
      other documents, including copies of any preliminary or final prospectus, as
      the
      Investor may reasonably request from time to time in order to facilitate the
      disposition of the Registrable Securities.

     

    (d) The
      Company shall use commercially reasonable efforts to (i)
      register
      and qualify the Registrable Securities covered by the Registration Statement
      under such other securities or “blue sky” laws of such states in the United
      States as the Investor reasonably requests; (ii)
      prepare
      and file in those jurisdictions, such amendments (including post-effective
      amendments) and supplements to such registrations and qualifications as may
      be
      necessary to maintain the effectiveness thereof during the Registration Period;
      (iii)
      take
      such
      other actions as may be necessary to maintain such registrations and
qualifications
      in effect at all times during the Registration Period, and (iv)
      take
      all
      other actions reasonably
      necessary or advisable to qualify the Registrable Securities for sale in such
      jurisdictions; provided,
      however, that
      the
      Company shall not be required in connection therewith or as a condition thereto
      to (x)
      qualify
      to do business in any jurisdiction where it would not otherwise be required
      to
      qualify but for this Section 3(d), or (y)
      subject
      itself to general taxation in any such jurisdiction. The Company shall promptly
      notify the Investor who holds Registrable Securities of the receipt by the
      Company of any notification with respect to the suspension of the registration
      or qualification of any of the Registrable Securities for sale under the
      securities or “blue sky” laws of any jurisdiction in the United States or its
      receipt of actual notice of the initiation or threatening of any proceeding
      for
      such purpose.

    

    
      
        
          
             

          

        

        
        

      

      
        3

        
          

        

      

      
        
        

        
        

      

    

    (e) As
      promptly as practicable after becoming aware of such event, the Company shall
      notify Investor in writing of the happening of any event as a result of which
      the prospectus included in the Registration Statement, as then in effect,
      includes an untrue statement of a material fact or omission 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
(“Registration
      Default”)
      and use
      all diligent efforts to promptly prepare a supplement or amendment to such
      Registration Statement and take any other necessary steps to cure the
      Registration Default (which, if such Registration Statement is on Form S-3,
      may
      consist of a document to be filed by the Company with the SEC pursuant to
      Section 13(a), 13(c), 14 or 15(d) of the 1934 Act (as defined below) and to
      be
      incorporated by reference in the prospectus) to correct such untrue statement
      or
      omission, and make available copies of such supplement or amendment to the
      Investor. The Company shall also promptly notify the Investor (i)
      when
      a
      prospectus or any prospectus supplement or post-effective amendment has been
      filed, and when the Registration Statement or any post-effective amendment
      has
      become effective (the Company will prepare notification of such effectiveness
      which shall be delivered to the Investor on the same day of such effectiveness
      and by overnight mail), additionally, the Company will promptly provide to
      the
      Investor, a copy of the effectiveness order prepared by the SEC once it is
      received by the Company; (ii)
      of
      any
      request by the SEC for amendments or supplements to the Registration Statement
      or related prospectus or related information, (iii)
      of
      the
      Company’s reasonable determination that a post-effective amendment to the
      Registration Statement would be appropriate, (iv)
      in
      the
      event the Registration Statement is no longer effective, or (v)
      if
      the
      Registration Statement is stale as a result of the Company’s failure to timely
      file its financials or otherwise. The Company acknowledges that its failure
      to
      cure the Registration Default within ten (10) business days will cause the
      Investor to suffer damages in an amount that will be difficult to ascertain.
      Accordingly, the parties agree that it is appropriate to include a provision
      for
      liquidated damages. The parties acknowledge and agree that the liquidated
      damages provision set forth in this section represents the parties’ good faith
      effort to quantify such damages and, as such, agree that the form and amount
      of
      such liquidated damages are reasonable and will not constitute a penalty. It
      is
      the intention
      of the parties that interest payable under any of the terms of this Agreement
      shall not exceed the
      maximum
      amount permitted under any applicable law. If a law, which applies to this
      Agreement, which sets the maximum interest amount, is finally interpreted so
      that the interest in connection with this Agreement exceeds the permitted
      limits, then: (1)
      any
      such
      interest shall be reduced by the amount necessary to reduce the interest to
      the
      permitted limit; and (2)
      any
      sums
      already collected (if any) from the Company which exceed the permitted limits
      will be refunded to the Company. The Investor may choose to make this refund
      by
      reducing the amount that the Company owes under this Agreement or by making
      a
      direct payment to the Company. If a refund reduces the amount that the Company
      owes the Investor, the reduction will be treated as a partial
      payment.

     

    (f) The
      Company shall use all commercially reasonable efforts to prevent the issuance
      of
      any stop order or other suspension of effectiveness of the Registration
      Statement, or the suspension of the qualification of any of the Registrable
      Securities for sale in any jurisdiction and, if such an order or suspension
      is
      issued, to obtain the withdrawal of such order or suspension at the earliest
      possible moment and to notify the Investor holding Registrable Securities being
      sold of the issuance of such order and the resolution thereof or its receipt
      of
      actual notice of the initiation or threat of any proceeding concerning the
      effectiveness of the registration statement.

     

    (g) The
      Company shall permit the Investor and one (1) legal counsel, designated by
      the
      Investor, to
      review
      and comment upon the Registration Statement and all amendments and supplements
      thereto at
      least
      one (1) calendar day prior to their filing with the SEC.

     

    However,
      any postponement of a filing of a Registration Statement or any postponement
      of
      a request for acceleration or any postponement of the effective date or
      effectiveness of a Registration Statement by written request of the Investor
      (collectively, the "Investor's Delay") shall not act to trigger any penalty
      of
      any kind, or any cash amount due or any in-kind amount due the Investor from
      the
      Company under any and all agreements of any nature or kind between the Company
      and the Investor. The event(s) of an Investor's Delay shall act to suspend
      all
      obligations of any kind or nature of the Company under any and all agreements
      of
      any nature or kind between the Company and the Investor.

    

    
      
        
          
             

          

        

        
        

      

      
        4

        
          

        

      

      
        
        

        
        

      

    

    (h) At
      the
      written request of the Investor, the Company's counsel shall furnish to the
      Investor an opinion letter confirming the effectiveness of the registration
      statement. Such opinion letter shall be issued as of the date of the
      effectiveness of the registration statement and be in form suitable to the
      Investor and the Company’s counsel.

     

    (i) The
      Company shall hold in confidence and not make any disclosure of information
      concerning the Investor unless (i)
      disclosure
      of such information is necessary to comply with federal or state securities
      laws, (ii)
      the
      disclosure of such information is necessary to avoid or correct a misstatement
      or omission in any Registration Statement, (iii)
      the
      release of such information is ordered pursuant to a subpoena or other final,
      non-appealable order from a court or governmental body of competent
      jurisdiction, or (iv)
      such
      information has been made generally available to the public other than by
      disclosure in violation of this Agreement or any other agreement. The Company
      agrees that it shall, upon learning that disclosure of such information
      concerning the Investor is sought in or by a court or governmental body of
      competent jurisdiction or through other means, give prompt written notice to
      the
      Investor and allow the Investor, at the Investor’s expense, to undertake
      appropriate action to prevent disclosure of, or to obtain a protective order
      covering such information.

     

    (j) The
      Company shall use all commercially reasonable efforts to maintain designation
      and quotation of all the Registrable Securities covered by any Registration
      Statement on the Principal Market. If, despite the Company’s commercially
      reasonable efforts, the Company is unsuccessful in satisfying the preceding
      sentence, it shall use commercially reasonable efforts to cause all the
      Registrable Securities covered by any Registration Statement to be listed on
      each other national securities exchange and automated quotation system, if
      any,
      on which securities of the same class or series issued by the Company are then
      listed, if any, if the listing of such Registrable Securities is then permitted
      under the rules of such exchange or system. The Company shall pay all fees
      and
      expenses in connection with satisfying its obligation under this Section
      3(j).

     

    (k) The
      Company shall cooperate with the Investor to facilitate the prompt preparation
      and delivery of certificates representing the Registrable Securities to be
      offered pursuant to the Registration Statement and enable such certificates
      to
      be in such denominations or amounts, as the case may be, as the Investor may
      reasonably request (and after any sales of such Registrable Securities by the
      Investor, such certificates not bearing any restrictive legend).

     

    (l) The
      Company shall provide a transfer agent for all the Registrable Securities not
      later than the effective date of the first Registration Statement filed pursuant
      hereto.

     

    (m) If
      requested by the Investor, the Company shall (i)
      as
      soon
      as reasonably practical incorporate in a prospectus supplement or post-effective
      amendment such information as the Investor reasonably determines should be
      included therein relating to the sale and distribution of Registrable
      Securities, including, without limitation, information with respect to the
      offering of the Registrable Securities to be sold in such offering; (ii)
      make
      all
      required filings of such prospectus supplement or post-effective
      amendment as soon as reasonably possible after being notified of the matters
      to
      be incorporated
      in such
      prospectus supplement or post-effective amendment; and (iii)
      supplement
      or make amendments to any Registration Statement if reasonably requested by
      the
      Investor.

     

    (n) The
      Company shall use all commercially reasonable efforts to cause the Registrable
      Securities covered by the applicable Registration Statement to be registered
      with or approved by such other governmental agencies or authorities as may
      be
      necessary to facilitate the disposition of such Registrable
      Securities.

     

    (o) The
      Company shall otherwise use all commercially reasonable efforts to comply with
      all applicable rules and regulations of the SEC in connection with any
      registration hereunder.

     

    (p) Within
      one (1) business day after the Registration Statement which includes Registrable
      Securities is declared effective by the SEC, the Company shall deliver to the
      transfer agent for such Registrable Securities, with copies to the Investor,
      confirmation that such Registration Statement has been declared effective by
      the
      SEC.

    

    
      
        
          
             

          

        

        
        

      

      
        5

        
          

        

      

      
        
        

        
        

      

    

     

    (q)
      The
      Company shall take all other reasonable actions necessary to expedite and
      facilitate disposition by the Investor of Registrable Securities pursuant to
      the
      Registration Statement.

     

    Section
      4. OBLIGATIONS
      OF THE INVESTOR.

     

    (a) At
      least
      five (5) calendar days prior to the first anticipated filing date of the
      Registration Statement the Company shall notify the Investor in writing of
      the
      information the Company requires from the Investor for the Registration
      Statement. It shall be a condition precedent to the obligations of the Company
      to complete the registration pursuant to this Agreement with respect to the
      Registrable Securities and the Investor agrees to furnish to the Company that
      information regarding itself, the Registrable Securities and the intended method
      of disposition of the Registrable Securities as shall reasonably be required
      to
      effect the registration of such Registrable Securities and the Investor shall
      execute such documents in connection with such registration as the Company
      may
      reasonably request. The Investor covenants and agrees that, in connection with
      any sale of Registrable Securities by it pursuant to the Registration Statement,
      it shall comply with the “Plan of Distribution” section of the then current
      prospectus relating to such Registration Statement.

     

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

     

    (c) The
      Investor agrees that, upon receipt of written notice from the Company of the
      happening of
      any
      event of the kind described in Section 3(f) or the first sentence of 3(e),
      the
      Investor will immediately
      discontinue disposition of Registrable Securities pursuant to any Registration
      Statement(s) covering such Registrable Securities until the Investor’s receipt
      of the copies of the supplemented or amended prospectus contemplated by Section
      3(f) or the first sentence of 3(e)

     

    Section
      5. EXPENSES
      OF REGISTRATION.

     

    All
      expenses, other than underwriting discounts and commissions and other than
      as
      set forth in the Investment Agreement, incurred in connection with registrations
      including comments, filings or qualifications pursuant to Sections 2 and 3,
      including, without limitation, all registration, listing and qualifications
      fees, printing and accounting fees, and fees and disbursements of counsel for
      the Company
      or for
      the Investor shall be paid by the Company.

     

    Section
      6. INDEMNIFICATION.

     

    In
      the
      event any Registrable Securities are included in the Registration Statement
      under this Agreement:

     

    

    
      
        
          
             

          

        

        
        

      

      
        6

        
          

        

      

      
        
        

        
        

      

    

    (a)To
      the
      fullest extent permitted by law, the Company, under this Agreement, will, and
      hereby does, indemnify, hold harmless and defend the Investor who holds
      Registrable Securities, the directors, officers, partners, employees, counsel,
      agents, representatives of, and each Person, if any, who controls, any
      Investor within the meaning of the 1933 Act or the Securities Exchange Act
      of
      1934, as amended (the “1934
      Act”)
      (each,
      an “Indemnified
      Person”),
      against
      any losses, claims, damages, liabilities, judgments, fines, penalties, charges,
      costs, attorneys’ fees, amounts paid in settlement or expenses, joint or several
      (collectively, “Claims”),
      incurred
      in investigating, preparing or defending any action, claim, suit, inquiry,
      proceeding,
      investigation or appeal taken from the foregoing by or before any court or
      governmental, administrative or other regulatory agency, body or the SEC,
      whether pending or threatened, whether or not an indemnified party is or may
      be
      a party thereto (“Indemnified
      Damages”),
      to which
      any of them may become subject insofar as such Claims (or actions or
      proceedings, whether commenced or threatened, in respect thereof) arise out
      of
      or are based upon: (i)
      any
      untrue statement or alleged untrue statement of a material fact in the
      Registration Statement or any post-effective amendment thereto or in any filing
      made in connection with the qualification of the offering under the securities
      or other “blue sky” laws of any jurisdiction in which the Investor has requested
      in writing that the Company register or qualify the Shares (“Blue
      Sky Filing”),
      or the
      omission or alleged omission to state a material fact required to be stated
      therein or necessary to make the statements therein, in light of the
      circumstances under which the statements therein were made, not misleading,
      (ii)
      any
      untrue statement or alleged untrue statement of a material fact contained in
      the
      final prospectus (as amended or supplemented, if the Company files any amendment
      thereof or supplement thereto with the SEC) or the omission or alleged omission
      to state therein any material fact necessary to make the statements made
      therein, in light of the circumstances under which the statements therein were
      made, not misleading, or (iii)
      any
      violation or alleged violation by the Company of the 1933 Act, the 1934 Act,
      any
      other law, including, without limitation, any state securities law, or any
      rule
      or regulation thereunder relating to the offer or sale of the Registrable
      Securities pursuant to the Registration Statement (the matters in the foregoing
      clauses (i) through (iii) being, collectively, “Violations”).
      Subject
      to the restrictions set forth in Section 6(c) the Company shall reimburse the
      Investor and each such controlling person, promptly as such expenses are
      incurred and are due and payable, for any reasonable legal fees or other
      reasonable expenses incurred by them in connection with investigating or
      defending any such Claim. Notwithstanding anything to the contrary contained
      herein, the indemnification agreement contained in this Section 6(a):
(i)
      shall
      not
      apply to a Claim arising out of or based upon a Violation which is due to the
      inclusion in the Registration Statement of the information furnished to the
      Company by any Indemnified Person expressly for use in connection with the
      preparation of the Registration Statement or any such amendment thereof or
      supplement thereto; (ii)
      shall
      not
      be available to the extent such Claim is based on (a)
      a
      failure
      of the Investor to deliver or to cause to be delivered the prospectus made
      available by the Company or (b)
      the
      Indemnified Person’s use of an incorrect prospectus despite being promptly
      advised in advance by the Company in writing not to use such incorrect
      prospectus; (iii)
      any
      claims based on the manner of sale of the Registrable Securities by the Investor
      or of the Investor’s failure to register as a dealer under applicable securities
      laws; (iv)
      any
      omission of the Investor to notify the Company of any material fact that should
      be stated in the Registration Statement or prospectus relating to the Investor
      or the manner of sale; and (v)
      any
      amounts paid in settlement of any Claim if such settlement is effected without
      the prior written consent of the Company, which consent shall not be
      unreasonably withheld. Such indemnity shall remain in full force and effect
      regardless of any investigation made by or on behalf of the Indemnified Person
      and shall survive the resale of the Registrable Securities by the Investor
      pursuant to the Registration Statement.

     

    (b)In
      connection with any Registration Statement in which Investor is participating,
      the Investor agrees to severally and jointly indemnify, hold harmless and
      defend, to the same extent and in the same manner as is set forth in Section
      6(a), the Company, each of its directors, each of its officers who signs the
      Registration Statement, each Person, if any, who controls the Company within
      the
      meaning of the 1933 Act or the 1934 Act and the Company’s agents (collectively
      and together with an Indemnified Person, an “Indemnified
      Party”),
      against
      any Claim or Indemnified Damages to which any of them may become subject, under
      the 1933 Act, the 1934 Act or otherwise, insofar as such Claim or Indemnified
      Damages arise out of or are based upon any Violation, in each case to the
      extent, and only to the extent, that such Violation is due to the inclusion
      in
      the Registration Statement of the written information furnished to the Company
      by the Investor expressly for use in connection with such Registration
      Statement; and, subject to Section 6(c), the Investor will reimburse any legal
      or other expenses reasonably incurred by them in connection with investigating
      or defending any such Claim; provided,
      however, that
      the
      indemnity agreement contained in this Section 6(b) and the agreement with
      respect to contribution contained in Section 7 shall not apply to amounts paid
      in settlement of any Claim if such settlement is effected without the prior
      written consent of the Investor, which consent shall not be unreasonably
      withheld; provided, further, however, that the Investor shall only be liable
      under this Section 6(b) for that amount of a Claim or Indemnified Damages as
      does not exceed the net proceeds to such Investor as a result of the sale of
      Registrable Securities pursuant to such Registration Statement. Such
indemnity shall remain in full force and effect regardless
      of any investigation made by or on behalf of such Indemnified
      Party and shall survive the resale of the Registrable Securities by the Investor
      pursuant to the
      Registration Statement. Notwithstanding anything to the contrary contained
      herein, the indemnification agreement contained in this Section 6(b) with
      respect to any preliminary prospectus shall not inure to the benefit of any
      Indemnified Party if the untrue statement or omission of material fact contained
      in the preliminary prospectus were corrected on a timely basis in the
      prospectus, as then amended or supplemented. This indemnification provision
      shall apply separately to each Investor and liability hereunder shall not be
      joint and several.

    
      
        
          
             

          

        

        
        

      

      
        7

        
          

        

      

      
        
        

        
        

      

    

     

    (c) Promptly
      after receipt by an Indemnified Person or Indemnified Party under this Section
      6
      of notice of the commencement of any action or proceeding (including any
      governmental action or proceeding) involving a Claim, such Indemnified Person
      or
      Indemnified Party shall, if a Claim in respect thereof is to be made against
      any
      indemnifying party under this Section 6, deliver to the indemnifying party
      a
      written notice of the commencement thereof, and the indemnifying party shall
      have the right to participate in, and, to the extent the indemnifying party
      so
      desires, jointly with any other indemnifying party similarly noticed, to assume
      control of the defense thereof with counsel mutually satisfactory to the
      indemnifying party and the Indemnified Person or the Indemnified Party, as
      the
      case may be; provided, however, that an Indemnified Person or Indemnified Party
      shall have the right to retain its own counsel with the fees and expenses to
      be
      paid by the indemnifying party, if, in the reasonable opinion of counsel
retained
      by the Indemnified Person or Indemnified Party, the representation by counsel
      of
      the Indemnified
      Person
      or Indemnified Party and the indemnifying party would be inappropriate due
      to
      actual or potential differing
      interests between such Indemnified Person or Indemnified Party and any other
      party represented
      by such
      counsel in such proceeding. The indemnifying party shall pay for only one (1)
      separate legal counsel for the Indemnified Persons or the Indemnified Parties,
      as applicable, and such counsel shall be selected by the Investor, if the
      Investor are entitled to indemnification hereunder, or the Company, if the
      Company is entitled to indemnification hereunder, as applicable. The Indemnified
      Party or Indemnified Person shall cooperate fully with the indemnifying party
      in
      connection with any negotiation or defense of any such action or Claim by the
      indemnifying party and shall furnish to the indemnifying party all information
      reasonably available to the Indemnified Party or Indemnified Person which
      relates to such action or Claim. The indemnifying party shall keep the
      Indemnified Party or Indemnified Person fully apprised at all times as to the
      status of the defense or any settlement negotiations with respect thereto.
      No
      indemnifying party shall be liable for any settlement of any action, claim
      or
      proceeding effected without
      its
      written consent, provided, however, that the indemnifying party shall not
      unreasonably withhold, delay or condition its consent. No indemnifying party
      shall, without the consent of the Indemnified Party or Indemnified Person,
      consent to entry of any judgment or enter into any settlement or other
      compromise which does not include as an unconditional term thereof the giving
      by
      the claimant or plaintiff to such Indemnified Party or Indemnified Person of
      a
      release from all liability in respect to such Claim. Following indemnification
      as provided for hereunder, the indemnifying party shall be subrogated to all
      rights of the Indemnified Party or Indemnified Person with respect to all third
      parties, firms or corporations relating to the matter for which indemnification
      has been made. The failure to deliver written notice to the indemnifying party
      within a reasonable time of the commencement of any such action shall not
      relieve such indemnifying party of any liability to the Indemnified Person
      or
      Indemnified Party under this Section 6, except to the extent that the
      indemnifying party is prejudiced in its ability to defend such
      action.

     

    (d) The
      indemnity agreements contained herein shall be in addition to (i)
      any
      cause
      of action or similar right of the Indemnified Party or Indemnified Person
      against the indemnifying party or others, and (ii)
      any
      liabilities the indemnifying party may be subject to pursuant to the
      law.

     

    Section
      7. CONTRIBUTION.

     

    To
      the
      extent any indemnification by an indemnifying party is prohibited or limited
      by
      law, the indemnifying party agrees to make the maximum contribution with respect
      to any amounts for which it would otherwise be liable under Section 6 to the
      fullest extent permitted by law; provided,
      however, that:
      (i)
      no
      contribution shall be made under circumstances where the maker would not have
      been liable for indemnification under the fault standards set forth in Section
      6; (ii)
      no
      seller
      of Registrable Securities guilty of fraudulent misrepresentation (within the
      meaning of Section 11(f) of the 1933 Act) shall be entitled to contribution
      from
      any seller of Registrable Securities who was not guilty of fraudulent
      misrepresentation; and (iii)
      contribution
      by any seller of Registrable Securities shall be limited in amount to the net
      amount of proceeds received by such seller from the sale of such Registrable
      Securities.

    

    
      
        
          
             

          

        

        
        

      

      
        8

        
          

        

      

      
        
        

        
        

      

    

     

    Section
      8 .REPORTS
      UNDER THE 1934 ACT.

     

    With
      a
      view to making available to the Investor the benefits of Rule 144 promulgated
      under the 1933 Act or any other similar rule or regulation of the SEC that
      may
      at any time permit the Investor to sell securities of the Company to the public
      without registration (“Rule
      144”),
      provided
      that the Investor holds any Registrable Securities are eligible for resale
      under
      Rule 144 (k), the Company agrees to:

     

    (a)  make
      and
      keep public information available, as those terms are understood and defined
      in
      Rule 144;

     

    (b)  file
      with
      the SEC in a timely manner all reports and other documents required of the
      Company under the 1933 Act and the 1934 Act so long as the Company remains
      subject to such requirements (it being understood that nothing herein shall
      limit the Company’s obligations under Section 5(c) of the Investment Agreement)
      and the filing of such reports and other documents is required for the
      applicable provisions of Rule 144; and

     

    (c)  furnish
      to the Investor, promptly upon request, (i)
      a
      written
      statement by the Company that it has complied with the reporting requirements
      of
      Rule 144, the 1933 Act and the 1934 Act, (ii)
      a
      copy
      of
      the most recent annual or quarterly report of the Company and such other reports
      and documents
      so filed
      by the Company, and (iii)
      such
      other information as may be reasonably requested to permit the Investor to
      sell
      such securities pursuant to Rule 144 without registration.

     

    Section
      9. NO
      ASSIGNMENT OF REGISTRATION RIGHTS.

     

    The
      rights and obligations under this Agreement shall not be
      assignable.

     

    Section
      10. AMENDMENT
      OF REGISTRATION RIGHTS.

     

    The
      provisions of this Agreement may be amended only with the written consent of
      the
      Company and Investor.

     

    Section
      11. MISCELLANEOUS.

     

    (a)Any
      notices or other communications required or permitted to be given under the
      terms of this Agreement that must be in writing will be deemed to have been
      delivered (i)
      upon
      receipt, when delivered personally; (ii)
      upon
      receipt, when sent by facsimile (provided a confirmation of transmission is
      mechanically or electronically generated and kept on file by the sending party);
      or (iii)
      one
      (1)
      day after deposit with a nationally recognized overnight delivery service,
      in
      each case properly addressed to the party to receive the same. The addresses
      and
      facsimile numbers for such communications shall be:

    

    
      
        
          
             

          

        

        
        

      

      
        9

        
          

        

      

      
        
        

        
        

      

    

     

    If
      to the
      Company:

     

    Tank
      Sports, Inc.

    10925
      Schmidt Road El Monte, CA 91733 Telephone: (626) 350-4039

    Facsimile:

     

    With
      a
      Copy to:

     

    The
      O’Neal law Firm. P.C. 17100 E. Shea Boulevard Suite 400-D

    Fountain
      Hills, AZ 85268 Telephone
      (480) 812-5058 Facsimile:
      (480) 816-9241

     

    If
      to the
      Investor:

     

    Dutchess
      Private Equities Fund, LP
      50
      Commonwealth Ave, Suite 2 Boston, MA 02116

    Telephone:
      617-301-4700

    Facsimile:
      617-249-0947

     

    Each
      party shall provide five (5) business days prior notice to the other party
      of
      any change in address, phone number or facsimile number.

     

    (b) Failure
      of any party to exercise any right or remedy under this Agreement or otherwise,
      or delay by a party in exercising such right or remedy, shall not operate as
      a
      waiver thereof.

     

    (c) This
      Agreement and the Transaction Documents constitute the entire agreement among
      the parties hereto with respect to the subject matter hereof and thereof. There
      are no restrictions, promises, warranties or undertakings, other than those
      set
      forth or referred to herein and therein.

     

    (d) This
      Agreement and the Transaction Documents supersede all prior agreements and
      understandings among the parties hereto with respect to the subject matter
      hereof and thereof.

     

    (e) The
      headings in this Agreement are for convenience of reference only and shall
      not
      limit or otherwise affect the meaning hereof. Whenever required by the context
      of this Agreement, the singular shall include the plural and masculine shall
      include the feminine. This Agreement shall not be construed as if it had been
      prepared by one of the parties, but rather as if all the parties had prepared
      the same.

     

    (f) This
      Agreement may be executed in two or more identical counterparts, each of which
      shall be deemed an original but all of which shall constitute one and the same
      agreement. This Agreement, once executed by a party, may be delivered to the
      other party hereto by facsimile transmission of a copy of this Agreement bearing
      the signature of the party so delivering this Agreement.

     

    (g) Each
      party shall do and perform, or cause to be done and performed, all such further
      acts and things, and shall execute and deliver all such other agreements,
      certificates, instruments and documents, as the other party may reasonably
      request in order to carry out the intent and accomplish the purposes of this
      Agreement and the consummation of the transactions contemplated
      hereby.

    

    
      
        
          
             

          

        

        
        

      

      
        10

        
          

        

      

      
        
        

        
        

      

    

     

    (h)
      In
      case any provision of this Agreement is held by a court of competent
      jurisdiction to be excessive in scope or otherwise invalid or unenforceable,
      such provision shall be adjusted rather than voided, if possible, so that it
      is
      enforceable to the maximum extent possible, and the validity and enforceability
      of the remaining provisions of this Agreement will not in any way be affected
      or
      impaired thereby.

     

    Section
      12. DISPUTES
      SUBJECT TO ARBITRATION GOVERNED BY MASSACHUSETTS LAW

     

    All
      disputes arising under this agreement shall be governed by and interpreted
      in
      accordance with the laws of the Commonwealth of Massachusetts, without regard
      to
      principles of conflict of laws. The parties to this agreement will submit all
      disputes arising under this agreement to arbitration in Boston, Massachusetts
      before a single arbitrator of the American Arbitration Association (“AAA”). The
      arbitrator shall
      be
      selected by application of the rules of the AAA, or by mutual agreement of
      the
      parties, except that
      such
      arbitrator shall be an attorney admitted to practice law in the Commonwealth
      of
      Massachusetts. No party to this agreement will challenge the jurisdiction or
      venue provisions as provided in this section. Nothing contained herein shall
      prevent the party from obtaining an injunction.

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    

    
      
        
          
             

          

        

        
        

      

      
        11

        
          

        

      

      
        
        

        
        

      

    

     

    SIGNATURE
      PAGE OF REGISTRATION RIGHTS AGREEMENT

     

    Your
      signature on this Signature Page evidences your agreement to be bound by the
      terms and conditions
      of the Investment Agreement and the Registration Rights Agreement as of the
      date
      first written
      above.

     

    The
      undersigned signatory hereby certifies that he has read and understands the
      Registration Rights Agreement, and the representations made by the undersigned
      in this Registration Rights Agreement are true and accurate, and agrees to
      be
      bound by its terms.

     

     

    
      	 	 	 
	 	
              DUTCHESS
                PRIVATE EQUITIES FUND, L.P., BY
                ITS GENERAL PARTNER,

              DUTCHESS CAPITAL MANAGEMENT, LLC

            
	 
 	 
 	 
 
	 	By:  	/s/ Douglas
              H. Leighton
	 	Douglas
              H.
              Leighton, Managing Member
	 	 
	 TANK SPORTS,
              INC.	 
	 	 
	 By: /s/ 
              Jing JIng Long	 
	 Jing JIng Long, President	 

    

     

     

     

     

     

     

     

     

     

     

    12

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