Document:

Exhibit
10.64

CASTLE BRANDS (USA) CORP.

No.
053109-002

9% Senior Secured Note, Series 2004, due May
31,
2009
Non-Negotiable

	$5,340,000	November
10, 2006

THE SECURITY EVIDENCED HEREBY AND BENEFICIAL INTERESTS
HEREIN WERE ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER
SECTION 5 OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE
SECURITIES ACT ), AND THE SECURITY EVIDENCED HEREBY AND BENEFICIAL
INTERESTS HEREIN MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN
THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM.
THE OWNER OF THIS NOTE AND ANY BENEFICIAL INTERESTS HEREIN ARE HEREBY
NOTIFIED THAT THE ISSUER HAS NOT REGISTERED THIS SECURITY UNDER THE
SECURITIES ACT OR ANY APPLICABLE STATE SECURITIES LAWS. THE OWNER OF
THIS NOTE AND ANY BENEFICIAL INTEREST HEREIN AGREES FOR THE BENEFIT OF
THE ISSUER THAT SUCH SECURITY MAY BE RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED, ONLY (1) IN ACCORDANCE WITH AN EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, OR (2) PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE, IN ACCORDANCE WITH
ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY
OTHER APPLICABLE JURISDICTION.

Castle Brands (USA) Corp., a
Delaware corporation (the Issuer), for value received, hereby
promises to pay to The Bank of New York Trust Company, National
Association (successor trustee to JPMorgan Chase Bank, National
Association), its successors and assigns (the Trustee), for the
benefit of registered owners of beneficial interests in this Note under
Amended and Restated Trust Indenture dated as of August 15, 2005 (the
Indenture), the principal sum of Five Million Three Hundred
Forty Thousand Dollars ($5,340,000.00) on May 31, 2009 (the
Maturity Date), and to pay interest accrued (computed on the
basis of a 360-day year of twelve 30-day months) on the unpaid
principal balance from the date of this Note at the rate of 9.00
% per annum, semi-annually, on the 31st day of each
May and the 30th day of November of each year, and on the
Maturity Date, with the first payment of interest being due on November
30, 2006. The Issuer further promises to pay on demand interest on any
overdue principal, including any overdue prepayment of principal, and
or overdue installment of interest, at a rate of interest per annum
equal to the Default Rate as defined in the Indenture; provided that
interest on this Note shall in no event exceed the maximum rate
permitted by applicable law, and this Note is expressly made subject to
the interest rate limitation provisions of Section  13.5 of the
Indenture.

This Note is secured as set forth in the Indenture
and in the Security Documents and is entitled to the benefits of the
Parent Guaranty (as defined in the Indenture).

This Note is
transferable only by surrender thereof to a successor Trustee and
Depository under the Indenture, duly endorsed or accompanied by a
written instrument of transfer duly executed by the registered holder
of this Note or its attorney duly authorized in writing.

Following any partial prepayment of this Note, this Note shall be
made available to the Trustee for notation hereon of the amount of
principal so prepaid. In case the entire principal amount on this Note
is prepaid or paid, this Note shall be marked paid in full by the
Trustee, cancelled and returned to the Issuer. This Note may be prepaid
in whole or in part at any time without penalty.

In any case
where the date of maturity of any interest or principal owed with
respect to this Note or the date fixed for any prepayment (in whole or
in part) of this Note will not be a Business Day, then payment of such
interest, or principal need not be made on such date but may be made on
the next succeeding Business Day with the same force and effect as if
made on the date of maturity or the date fixed for such prepayment.

Under certain circumstances, as specified
in the Indenture, the entire principal amount of this Note may be
declared due and payable in the manner and with the effect provided in
the Indenture.

This Note and the Indenture shall be governed by,
and construed in accordance with, the laws of the state of New York
other than conflict of law rules thereof that would require the
application of the laws of a jurisdiction other than such state.

Dated as of November 10,
2006

							
	ATTEST:			CASTLE
BRANDS (USA)
CORP.
	 			 			 
	                /s/
Seth
Weinberg                        			By:
             /s/ Mark
Andrews                                        
	Secretary:
Seth Weinberg			Name:			Mark
Andrews
	 			Title:			Chief Executive
Officer and Chairman
	

This is one of the Notes
referred to in the Indenture referred to herein and has been duly
authenticated by the Trustee as witnessed below.

							
	 			The
BANK of NEW YORK TRUST COMPANY, National Association

 as
Trustee
	    			 			 
	 			By:			        /s/
Maurie
Cowen                                  
	Date
of authentication: November 13,
2006			Name:			        Maurie
Cowen                                        
	 			Title:			        Vice
President and Trust
OfficerExhibit
10.65

FORM OF WARRANT – NOT A VALID CERTIFICATE

NEITHER THIS WARRANT AGREEMENT NOR THE SECURITIES REPRESENTED
BY THIS WARRANT AGREEMENT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE. THIS WARRANT
AGREEMENT AND, UPON ACQUISITION, THE SECURITIES REPRESENTED HEREBY HAVE
BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE SOLD, OFFERED FOR SALE OR
TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES
LAWS OR AN OPINION OF COUNSEL IN FORM AND FROM COUNSEL REASONABLY
ACCEPTABLE TO CASTLE BRANDS THAT THE TRANSACTION SHALL NOT RESULT IN A
VIOLATION OF STATE OR FEDERAL SECURITIES LAWS.

WARRANT
AGREEMENT

							
	DATE:			November
10,
2006			 
	 			 			 
	PARTIES:			[Name]

[Address]			(‘‘Investor’’)
	 			 			 
	 			Castle
Brands Inc.
570 Lexington Avenue, 29th Floor
New
York, New York 10022			(‘‘Castle
Brands’’)
	

RECITALS:

1.    Castle Brands owns all the capital stock of its U.S.
subsidiary, Castle Brands (USA) Corp., a Delaware corporation (the
‘‘U.S. Subsidiary’’).

2.    The U.S.
Subsidiary is offering for sale at par up to a maximum $5,340,000
principal amount 9%  Senior Secured Notes, Series
2006 due May 31, 2009 (the ‘‘Notes’’) in a
private placement transaction exempt under federal and state securities
laws.

3.    The board of directors of Castle Brands believes
that it is in the best interests of Castle Brands and its U.S.
Subsidiary to enable the sale of the Notes by offering to each Note
purchaser (‘‘Investor’’) the rights to purchase
(such right is hereinafter referred to as the ‘‘Warrant
Rights’’) under this Warrant Agreement forty (40) shares of
Castle Brands common stock, $.01 par value per share
(‘‘Common Stock’’), for each $1,000 principal
amount of Notes subscribed to by Investor and purchased from the
U.S.  Subsidiary.

4.    The Notes and Warrant Rights are
offered in tandem (together, the
‘‘Securities’’) to a limited number of
accredited investors in compliance with applicable exemptions from
state and federal securities laws.

5.    Following the
purchase by Investor, the Warrant Rights and Notes will be separate
securities, such that, among other things, (i)  each of the
Securities will be issued by a separate entity pursuant to separate
documentation and will constitute the primary obligation of the issuing
entity, (ii)  each of the Securities will be transferable without
requiring transfer of the other Security, and (iii)  the Warrant
Agreement and Warrant Rights will survive the payment of the Notes.

NOW, THEREFORE, in consideration of Investor's purchase of the
Notes and the benefit therefrom that will inure to Castle Brands, and
the mutual agreements contained herein, the parties agree as
follows:

Section 1    GRANT AND ACCEPTANCE OF WARRANT
AGREEMENT

Castle Brands grants and delivers this Warrant
Agreement to Investor entitling it and its permitted transferees under
Section 4.3 below, subject to the terms and conditions set forth in
this Warrant 

Agreement, to purchase from the date of this
Warrant Agreement to March 31, 2012 (the ‘‘Expiration
Date’’),
                                            (            )
shares of Castle Brands Common Stock at the purchase price of U.S.
$8.00 per share (subject to adjustment as hereafter provided), upon
presentation of this Warrant Agreement and payment of the purchase
price in cash, certified check or bank draft payable to Castle Brands
or other form of payment acceptable to Castle Brands at the office of
Castle Brands at the address indicated above. Investor accepts and
agrees to the terms and conditions of this Warrant Agreement.

Section 2    DURATION AND EXERCISE OF WARRANT AGREEMENT

2.1    Term.    This Warrant Agreement shall become
void unless it is exercised and payment of the purchase price is made
prior to the Expiration Date.

2.2    Exercise of Warrant
Agreement.    This Warrant Agreement may be exercised during its
exercise period by Investor, and at its option, as to the whole at any
time or in part from time to time. If this Warrant Agreement is
exercised for less than the maximum number of shares of Common Stock
purchasable upon the exercise hereof, Castle Brands shall issue to
Investor a new warrant agreement of like tenor and date representing
the right to purchase a number of shares of Common Stock equal to the
difference between the number of shares purchasable upon full exercise
of this Warrant Agreement and the number of shares that were purchased
upon the exercise of this Warrant Agreement. To be exercised, this
Warrant Agreement must be surrendered by Investor for cancellation at
the office of Castle Brands accompanied with written instructions as to
the number of shares to be purchased and the payment of the purchase
price.

2.3    Investment Interest.    Unless the
shares to be acquired hereunder have been registered under applicable
securities laws and a representation for investment intent is not
needed to comply with the securities laws, if required by Castle Brands
at the time of any exercise of this Warrant Agreement, as a condition
to such exercise, Investor shall enter into an agreement with Castle
Brands in form reasonably satisfactory to counsel for Castle Brands by
which Investor (1)  shall represent that it is an
‘‘accredited investor’’ as defined by
Rule  501 of Regulation  D promulgated under the Securities
Act of 1933, as amended (the ‘‘Securities
Act’’), and the shares are being acquired for
Investor's own account for investment and not with a view to, or
for sale in connection with, any resale or distribution of such shares,
and (2)  shall agree that, if Investor should decide to sell,
transfer, or otherwise dispose of any of such shares, Investor may do
so only in accordance with this Warrant Agreement and applicable
securities laws.

2.4    Conversion Notice.    The
Warrant Agreement may be exercised by Investor, at any time or from
time to time, prior to the Expiration Date, on any business day by
delivering a written notice of the exercise of this Warrant Agreement
(the ‘‘Conversion Notice’’) to Castle Brands at
its principal office specifying (i) the total number of shares Investor
will purchase pursuant to such conversion and (ii) a place and date not
less than five nor more than 30 days from the date of the Conversion
Notice for the closing of such purchase.

Section
3    COVENANTS OF CASTLE BRANDS

3.1    Reservation of
Stock.    Castle Brands covenants that, while this Warrant
Agreement is exercisable, it shall reserve a sufficient number of
shares to provide for the delivery of shares pursuant to the exercise
of this Warrant Agreement.

3.2    Validly Issued
Stock.    Castle Brands covenants and agrees that all shares of
Common Stock that may be issued upon the exercise of this Warrant
Agreement shall, upon issuance, be duly and validly issued, fully paid
and nonassessable, and free from all taxes, liens and charges with
respect to the purchase and the issuance of the shares.

3.3    Due Authorization.    Castle Brands covenants
that all acts and things necessary have been done and performed to make
this Warrant Agreement, when executed on behalf of Castle Brands, the
valid, binding and legal obligation of Castle Brands and to authorize
the execution and delivery of this Warrant Agreement, and Castle Brands
covenants that all acts and things necessary will have been done and
performed prior to the issuance of the shares of Common Stock
purchasable under this Warrant Agreement to make such issuance a duly
authorized, valid and legal act of Castle Brands.

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Section 4    RESTRICTIONS ON
TRANSFERABILITY

4.1    Transfer
Restrictions.    Unless and until registered or an exemption is
available from such registration, this Warrant Agreement, the Warrant
Rights, the shares of Common Stock purchased upon exercise of this
Warrant Agreement (‘‘Purchased Shares’’) and
purchasable upon exercise of this Warrant Agreement
(‘‘Underlying Shares’’) shall not be sold,
assigned, transferred or pledged except upon the conditions specified
in Section  4 of this Warrant Agreement, which conditions are
intended to ensure compliance with the provisions of the applicable
federal and state securities laws.

4.2    Securities
Compliance.    Investor represents that it is an
‘‘accredited investor’’ as defined by
Rule  501 of Regulation  D promulgated under the Securities
Act and acquiring the Warrant Rights and the Underlying Shares for its
own account for investment, and not with the view to, or for resale in
connection with, any distribution thereof. Investor understands that
the Warrant Rights and the Underlying Shares have not been registered
under the Securities Act or any applicable state securities laws by
reason of specific exemptions from the registration provisions of those
securities laws, the availability of which depends upon, among other
things, the bona fide nature of the investment intent and the accuracy
of Investor's representation herein. Investor acknowledges that
this Warrant Agreement, the Purchased Shares and the Underlying Shares
must be held indefinitely, unless subsequently registered under the
Securities Act or unless an exemption from registration is
available.

4.3    Transferees Bound By This Warrant
Agreement.    Notwithstanding anything else to the contrary
stated in this Warrant Agreement, no transfer of the Warrant Agreement
or the Warrant Rights shall be made unless the transferee executes a
counterpart copy of this Warrant Agreement, as amended, pursuant to
which the transferee agrees to be bound by the provisions of this
Warrant Agreement, as amended; provided, however, that this
Section  4.3 shall not apply to the extent that either the
Underlying Shares or the Purchased Shares are registered under
applicable securities laws.

4.4    Notice of Proposed
Transfers.    Prior to any proposed sale, assignment, transfer
or pledge of this Warrant Agreement, Underlying Shares or Purchased
Shares, unless there is in effect a registration statement under the
Securities Act, covering the proposed transfer, Investor shall give
written notice to Castle Brands of its intention to effect such
transfer, sale, assignment or pledge. Each such notice shall describe
the manner and circumstances of the proposed transfer, sale, assignment
or pledge in sufficient detail and, if Castle Brands reasonably so
requests, shall be accompanied at Investor's expense by either
(i)  a written opinion of legal counsel in form and from counsel
reasonably acceptable to Castle Brands which states that the proposed
transfer of this Warrant Agreement, Underlying Shares or Purchased
Shares may be effected without registration under the Securities Act or
(ii)  a ‘‘no action’’ letter from the
Securities and Exchange Commission (the
‘‘Commission’’) to the effect that the transfer
of such securities without registration will not result in a
recommendation by the staff of the Commission that action be taken with
respect thereto, whereupon the holder of such Warrant Agreement,
Underlying Shares or Purchased Shares shall be entitled to transfer
such Warrant Agreement, Underlying Shares or Purchased Shares in
accordance with the terms of the notice delivered by Investor to Castle
Brands. Each certificate evidencing the Purchased Shares transferred as
above provided shall bear the appropriate restrictive legends set forth
in this Warrant Agreement, except that such certificate shall not bear
such restrictive legends if, in the opinion of counsel for Castle
Brands, such legends are not required in order to establish compliance
with any provisions of the Securities Act.

4.5    Restrictive Legends.    Each certificate
representing the Purchased Shares and any other securities issued in
respect of the Purchased Shares upon any stock split, stock dividend,
recapitalization, merger, consolidation or similar event unless the
same are registered prior to exercise of this Warrant Agreement, shall
be stamped or otherwise imprinted with a legend in substantially the
following form:

THE SECURITIES REPRESENTED BY
THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE. THE SECURITIES
HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE SOLD, OFFERED FOR SALE
OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, AND 

3

ANY APPLICABLE STATE SECURITIES LAWS OR AN
OPINION OF COUNSEL IN FORM AND FROM COUNSEL REASONABLY ACCEPTABLE TO
CASTLE BRANDS THAT THE TRANSACTION SHALL NOT RESULT IN A VIOLATION OF
STATE OR FEDERAL SECURITIES LAWS.

Investor consents to Castle
Brands making a notation on its records and giving instructions to any
transfer agent of the Purchased Shares in order to implement the
restrictions on transfer established in this Warrant Agreement.

4.6    Modification of this Section.    If a
registration statement under the Securities Act is hereafter filed with
respect to this Warrant Agreement, Purchased Shares or the Underlying
Shares, the provisions in this Warrant Agreement that would otherwise
be required by this Section 4 shall be appropriately modified or
eliminated.

4.7    Otherwise
Transferable.    Subject to the transfer conditions set forth in
this Section 4, this Warrant Agreement and the Warrant Rights, the
Underlying Shares or Purchased Shares are transferable, in whole or in
part, without charge to Investor, upon surrender of this Warrant at the
principal office of Castle Brands.

Section 5    ANTI-DILUTION
ADJUSTMENTS

5.1    Adjustment of Exercise Price and
Number of Shares.    In order to prevent dilution of the Warrant
Rights granted under this Warrant Agreement, the purchase price of each
Underlying Share (the ‘‘Exercise Price’’) shall
be subject to adjustment from time to time as provided in this
Section  5, and the number of shares obtainable upon exercise of
this Warrant Agreement shall be subject to adjustment from time to time
as provided in this Section  5.

5.2    Subdivision
or Combination of Shares.    If Castle Brands at any time
subdivides (by any stock split or recapitalization) one or more classes
of its outstanding shares of its Common Stock into a greater number of
shares, the Exercise Price in effect immediately prior to such
subdivision shall be proportionately reduced and the number of
Underlying Shares obtainable upon exercise of this Warrant shall be
proportionately increased. If Castle Brands at any time combines (by
reverse stock split or otherwise) its outstanding shares of its Common
Stock into a smaller number of shares, the Exercise Price in effect
immediately prior to such combination shall be proportionately
increased and the number of Underlying Shares obtainable upon exercise
of this Warrant shall be proportionately decreased.

5.3    Reorganization, Reclassification, Consolidation, Merger
or Sale.    Any recapitalization, reorganization,
reclassification, consolidation, merger, sale of all or substantially
all of Castle Brands's assets or other transaction, which in each
case is effected in such a way that the holders of Common Stock are
entitled to receive (either directly or upon subsequent liquidation)
stock, securities or assets with respect to or in exchange for shares
of Common Stock is referred to herein as an ‘‘Organic
Change.’’ Prior to the consummation of any Organic
Change, Castle Brands shall make appropriate provision (in form and
substance satisfactory to Investor) to insure that Investor shall
thereafter have the right, in lieu of or in addition to (as the case
may be) the Underlying Shares immediately theretofore acquirable upon
the exercise of this Warrant Agreement, to receive such shares of
stock, securities or assets as may be issued or payable with respect to
or in exchange for the number of shares of Common Stock immediately
theretofore acquirable upon exercise of this Warrant Agreement had such
Organic Change not taken place. In any such case, Castle Brands shall
make appropriate provision (in form and substance satisfactory to
Investor) with respect to Investor's rights and interests to
insure that the provisions of this Section 5 shall thereafter be
applicable to this Warrant Agreement (including, in the case of any
such consolidation, merger or sale in which the successor entity or
purchasing entity is other than Castle Brands, an immediate adjustment
of the Exercise Price to the value for the shares reflected by the
terms of such consolidation, merger or sale, and a corresponding
immediate adjustment in the number of Underlying Shares acquirable and
receivable upon exercise of this Warrant Agreement, if the value so
reflected is less than the Exercise Price in effect immediately prior
to such consolidation, merger or sale).

5.4    Notices.

(i)    Immediately upon any
adjustment of the Exercise Price, Castle Brands shall give written
notice thereof to Investor, setting forth in reasonable detail and
certifying the calculation of such adjustment.

4

(ii)    Castle Brands shall give written
notice to Investor at least 20  days prior to the date on which
Castle Brands closes its books or takes a record (A)  with
respect to any dividend or distribution upon the shares of Common
Stock, (B)  with respect to any pro rata subscription offer to
holders of shares of Common Stock or (C)  for determining rights
to vote with respect to any Organic Change, dissolution or
liquidation.

(iii)    Castle Brands shall also give written
notice to Investor at least 20  days prior to the date on which
any Organic Change, dissolution or liquidation shall take place.

Section 6    LIMITED REGISTRATION RIGHTS

6.1    Limited Registration Rights.

6.1.1    None of this Warrant Agreement, the Purchased
Shares or the Underlying Shares has been registered under the
securities laws of any jurisdiction.

6.1.2    Except
as specifically provided for in Section  6.1 of this Warrant
Agreement, Castle Brands is not obligated to register the Warrant
Agreement, the Purchased Shares or the Underlying Shares.

6.1.3    If Castle Brands shall determine to register
any of its shares of Stock, either for its own account or the account
of a holder (as hereinafter defined) other than (x)  a
registration relating solely to employee benefit plans or (y)  a
registration relating solely to a Commission Rule  145
transaction, Castle Brands will:

(i)    promptly give to
Investor written notice thereof; and

(ii)    include in such
registration (and any related qualification under blue sky laws or
other compliance), and in any underwriting involved therein, all
Purchased Shares and Underlying Shares (not previously disposed of)
specified in a written request or requests made within 30 days after
receipt of such written notice from Castle Brands by any Investor
(‘‘Registrable Securities’’).

6.1.4    Underwriting.    If the registration
of which Castle Brands gives notice is for a registered public offering
involving an underwriting, Castle Brands shall so advise Investor as a
part of the written notice given pursuant to this Section 6.1. In such
event, the right of Investor to registration pursuant to this Section
6.1 shall be conditioned upon Investor's participation in such
underwriting and the inclusion of Registrable Securities in the
underwriting to the extent provided herein. All holders proposing to
distribute their securities through such underwriting shall (together
with Castle Brands and the Investors distributing their shares of
Registrable Securities through such underwriting) enter into an
underwriting agreement in customary form with the managing underwriter
selected for such underwriting by Castle Brands and may, at their
option, require that any or all of the representations and warranties
by, and the other agreements on the part of, Castle Brands to and for
the benefit of such underwriters also be made to and for their benefit
and that any or all of the conditions precedent to the obligations of
such underwriters under such underwriting agreement also be conditions
precedent to their obligations. No Investor other than an Investor who,
together with its affiliates (within the meaning of Rule  12b-2
under the Securities and Exchange Act of 1934, as amended (the
‘‘Exchange Act’’), owns at least a majority of
the outstanding capital stock of Castle Brands (on an as-converted
basis, if applicable) shall be required to make any representations or
warranties to or agreements with Castle Brands or the underwriters
other than representations, warranties or agreements regarding such
Investor and its ownership of the shares of capital stock being
registered on its behalf and such Investor's intended method of
distribution and any other representation required by law.
Notwithstanding any other provision of this Section 6.1.4, if the
managing underwriter determines that marketing factors require a
limitation of the number of shares of Registrable Securities to be
underwritten, the managing underwriter may limit the number of
Registrable Securities to be included in the registration and
underwriting (up to the exclusion of all Registrable Securities), on a
pro rata basis based on the total number of shares of capital
stock of Castle Brands (including Registrable Securities) (on an
as-converted basis) requested to be included in such registration. To
facilitate the allocation of capital stock in accordance with the above
provisions, Castle Brands or the underwriters may round the number of
shares of Registrable Securities allocated to the Investor to the

5

nearest 10 shares of Registrable Securities.
If the Investor disapproves of the terms of any such underwriting, it
may elect to withdraw therefrom by written notice to Castle Brands and
the managing underwriter.

6.1.5    Right to
Terminate Registration.    Castle Brands shall have the right to
terminate or withdraw any registration initiated by it under this
Section 6.1 prior to the effectiveness of such registration, whether or
not the Investor has elected to include his Registrable Securities in
such registration.

6.1.6    Registrable
Securities.    If at any time Registrable Securities are to be
included in a registration pursuant to this Section 6.1, the securities
to be registered shall be the Purchased Shares or Underlying
Shares.

6.2    Expenses of Registration.

All
registration and other related expenses incurred in connection with any
registration pursuant to this Section 6, and the reasonable cost of one
special legal counsel to represent all Investors, shall be borne by
Castle Brands, except for Investor's share of underwriter's
fees, if any.

6.3    Indemnification.

6.3.1    Indemnification by Castle
Brands.    To the extent permitted by law, Castle Brands will
indemnify Investor within the meaning of the Securities Act with
respect to which registration, qualification or compliance has been
effected pursuant to this Section 6 against losses, claims, damages,
liabilities, investigations, actions, proceedings and expenses caused
by any untrue statement or alleged untrue statement of a material fact
contained in any registration statement, prospectus or preliminary or
summary prospectus, or any amendment thereof or supplement thereto, or
any omission or alleged omission of a material fact required to be
stated therein or necessary to make the statements therein, in the
light of the circumstances under which they were made, not misleading,
and Castle Brands will reimburse Investor for any legal and other
expenses reasonably incurred by Investor in connection with
investigating or defending any such loss, claim, liability,
investigation, action or proceeding except insofar as the same was made
in reliance upon and in conformity with written information furnished
to Castle Brands by an instrument duly executed by Investor expressly
stated for use therein (‘‘Investor's
Information’’) or such liability arises out of or is based
on willful misconduct of Investor.

6.3.2    Indemnification by Investor.    To
the extent permitted by law, in connection with each registration
relating to the disposition of the Purchased Shares or Underlying
Shares by Investor pursuant to Section 6, Investor will indemnify
Castle Brands, each of its directors, officers, agents, and any person
who controls Castle Brands (within the meaning of the Securities Act)
against all losses, claims, damages, liabilities, investigations,
actions, proceedings and expenses described in Section 6.1 above, but
only with respect to untrue statements or omissions made in the
registration statement, any preliminary or summary prospectus or the
prospectus or any amendment or supplement thereto in reliance upon and
in conformity with Investor's Information; provided, however,
that the liability of Investor for indemnification under this Section
6.3.2 shall not exceed the gross proceeds from the offering received by
Investor, unless such liability arises out of or is based on the bad
faith or willful misconduct of Investor.

6.3.3    Claims for Indemnification.    Each
party entitled to indemnification under this Section 6 (the
‘‘Indemnified Party’’) shall give written
notice to the party required to provide indemnification (the
‘‘Indemnifying Party’’) promptly after such
Indemnified Party has actual knowledge of any claim as to which
indemnity may be sought and shall unless in the Indemnified
Party's reasonable judgment a conflict of interest may exist
between the Indemnified Party and the Indemnifying Party in respect of
such claim, permit the Indemnifying Party to assume the defense of any
such claim or any litigation resulting therefrom, provided that counsel
for the Indemnifying Party, who shall conduct the defense of such claim
or litigation, shall be approved by the Indemnified Party (which
approval shall not unreasonably be withheld), and the Indemnified Party
may participate in such defense at such party's expense, and
provided further that the failure of any Indemnified Party to give
notice as provided herein shall not relieve the Indemnifying Party of
its obligations under this Section 6 except to the extent that the
failure to give such notice is materially prejudicial to an
Indemnifying Party's ability to defend such action. No
Indemnifying Party, in the defense of any such claim or litigation,
shall, except with the consent of each 

6

Indemnified Party, consent to entry of any
judgment or enter into any settlement that does not include as an
unconditional term thereof the giving by the claimant or plaintiff to
such Indemnified Party of a release from all liability in respect to
such claim or litigation.

6.3.4    Survival of
Indemnification.    The indemnification provided for under this
Section 6 will remain in full force and effect regardless of any
investigation made by or on behalf of the Indemnified Party. The
obligations of Castle Brands and Investor under this Section 6 shall
survive the completion of any offering of registrable securities in a
registration statement pursuant to this Warrant Agreement. The parties
agree to make such provisions for contribution as are reasonably
requested by the other party hereto, in the event indemnification is
unavailable for any reason.

6.4    Information by
Investor; Copies of Prospectus.    Investor shall furnish to
Castle Brands such information regarding itself, the Registrable
Securities held by it and the distribution proposed by it as Castle
Brands may reasonably request in writing and as shall be required in
connection with any registration, qualification or compliance referred
to in this Section 6. In connection with any such registration, Castle
Brands shall furnish to Investor the registration statement and each
amendment and supplement thereto and such other documents as Investor
may reasonably request, and such numbers of copies as it may reasonably
request, in order to facilitate the disposition of registrable
securities owned by it, of any prospectus or preliminary or summary
prospectus prepared in conformity with the Securities Act.

6.5    Obligations of Castle Brands.    Whenever
required under this Section 6 to effect the registration of any
Purchased Shares or Underlying Shares pursuant to Section 6.1, Castle
Brands shall, as soon as practicable:

6.5.1    Prepare and file with the Commission a
registration statement with respect to such securities and use its
reasonable efforts to cause such registration statement to become
effective and remain effective for at least 120 days.

6.5.2    Prepare and file with the Commission such
amendments and supplements to such registration statement and the
prospectus used in connection with such registration statement as may
be necessary to keep such registration statement effective for at least
120 days, and to comply with the provisions of the Securities Act with
respect to the disposition of all securities covered by such
registration statement.

6.5.3    Use its reasonable
efforts to register and qualify the securities covered by such
registration statement under such other securities or blue sky laws of
such jurisdictions where an exemption is not available as shall be
reasonably requested by Investor, to keep such registration or
qualification in effect for so long as such registration statement
remains in effect, provided that Castle Brands shall not be required in
connection therewith or as a condition thereto to file a general
consent to service of process in any such states or jurisdictions.

6.5.4    Notify Investor at any time when a prospectus
relating thereto is required to be delivered under the Securities Act
upon discovery that or upon the happening of any event as a result of
which the prospectus included in such registration statement, as then
in effect, includes an untrue statement of a material fact or omits to
state a material fact required to be stated therein or necessary to
make the statements therein not misleading in the light of the
circumstances then existing, and at the reasonable request of Investor
furnish to Investor a reasonable number of copies of a supplement to or
an amendment of such prospectus as may be necessary so that, as
thereafter delivered to the purchasers of such securities, such
prospectus shall not include an untrue statement of a material fact or
omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading in the light of
the circumstances in which they were made.

6.5.5    Furnish, at the request of Investor, on the
date that such securities are delivered to the underwriters for sale in
connection with a registration pursuant to this Warrant Agreement, if
such securities are being sold through underwriters, or, if such
securities are not being sold through underwriters, on the date that
the registration statement with respect to such securities becomes
effective, (i) an opinion dated such date of the counsel representing
Castle Brands for the purposes of such registration, in form and
substance as is customarily given to underwriters in an underwritten
public 

7

offering, addressed to the underwriters, if
any, and to Investor and (ii) a letter dated such date from the
independent certified public accountants of Castle Brands in form and
substance as is customarily given to underwriters in an underwritten
public offering, addressed to the underwriters, if any, and to
Investor. Any opinion or letter given shall be subject to all of the
qualifications, exceptions and conditions appropriate to the then
existing circumstances.

6.5.6    Use its reasonable
efforts to cause all registered shares to be listed on each securities
exchange on which Castle Brands common stock is then listed.

6.6    Removal of Legend.    After registration of the
Purchased Shares and upon the reasonable request of Investor and at
Castle Brands' expense, Castle Brands shall take such reasonable
actions as are necessary to remove the legends and restrictions on
transfer established in this Warrant Agreement.

6.7    Certain Limitations.    The Investor shall not
have the right to participate in a registration under this Section 6 if
the Investor receives a written opinion of counsel for Castle Brands,
in substance and authorship acceptable to Investor, together with a
confirming opinion of counsel selected by Investor, that Investor may
make such transfer of all Registrable Securities (if applicable) in a
public sale which will be in compliance with all applicable securities
laws concerning transfer of non-registered securities. If the right to
transfer Registrable Securities publicly is not available to the
Investor as described in the preceding sentence, Investor will have the
right to participate in a registration pursuant to the terms and
conditions of this Section 6.

6.8    Termination of
Rights.    The rights of the Investor to cause Castle Brands to
register securities under Section 6 shall terminate on April 6,
2008.

Section 7    TAX WITHHOLDING

If, in connection
with the exercise of this Warrant Agreement or any sale, transfer or
other disposition of any of the Purchased Shares acquired upon exercise
of this Warrant Agreement, Castle Brands is required by applicable
federal, state or local law to withhold any amount on account of
employment, income or similar taxes, Investor agrees to pay to Castle
Brands upon request the amount required to be withheld.

Section
8    MISCELLANEOUS

8.1    Transfer; Successors and
Assigns. Except as the transferability of rights is expressly
limited herein, the terms and conditions of this Warrant Agreement
shall inure to the benefit of and be binding upon the respective
successors and assigns of the parties. Nothing in this Warrant
Agreement, express or implied, is intended to confer upon any party
other than the parties hereto or their respective successors and
assigns any rights, remedies, obligations or liabilities under or by
reason of this Warrant Agreement, except as expressly provided in this
Warrant Agreement.

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

8.3    Notices.
All notices, requests, demands or other communications required or
permitted to be given under this Warrant Agreement shall be in writing,
delivered to or sent by fax, or postage prepaid certified mail,
addressed (a) if to Investor, at such address as such Investor shall
have furnished to Castle Brands in writing, or (b) if to Castle Brands,
at such address as Castle Brands shall have furnished in writing to
Investor to the attention of the President. Any notice or other
communication shall be deemed to be given at the expiration of the
fifth (5th) day after the date of deposit in the United
States mail. The addresses to which notices or other communications
shall be mailed may be changed from time to time by giving written
notice to the other party as provided in this Section 8.3.

8.4    Severability. If any provision of this Warrant
Agreement shall be invalid or unenforceable in any respect for any
reason, the validity and enforceability of any such provision in any
other respect and of the remaining provisions of this Warrant Agreement
shall not be in any way impaired.

8.5    Attorneys
Fees. If any suit or action is filed by any party to enforce this
Warrant Agreement or otherwise with respect to the subject matter of
this Warrant Agreement, the prevailing party shall be 

8

entitled to recover reasonable attorneys fees
incurred in preparation or in prosecution or defense of such suit or
action as fixed by the court or courts in which the suit or action,
including any appeal therein, is tried, heard or decided. Attorneys
fees shall include fees of paralegals and deposition expenses, and
shall further include attorneys fees incurred by any party in
connection with any bankruptcy or similar proceeding.

8.6    Governing Law and Venue. This Warrant Agreement
shall be governed by and construed in accordance with the laws of the
State of New York. If any suit or action is filed by any party to
enforce this Warrant Agreement or otherwise with respect to the subject
matter of this Warrant Agreement, venue shall be in the federal or
state courts in New York, New York, unless venue there would prevent
the joining of appropriate third parties.

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

		CASTLE BRANDS INC.,
a
Delaware corporation

		By:
                                                                

       
Mark Andrews
        Chairman and Chief Executive
Officer

		INVESTOR

		                                                                        

9

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