Document:

Unassociated Document

Exhibit 4.10

     

    REGISTRATION
RIGHTS AGREEMENT

    

    This Registration Rights Agreement
(this “Agreement”) is made
and entered into as of November 4, 2008, between Hague Corp., a Nevada
corporation (the “Company”) and each of
the several purchasers signatory hereto (each such purchaser, a “Purchaser” and,
collectively, the “Purchasers”).

    

                   This
Agreement is made pursuant to the Securities Purchase Agreement, dated as of the
date hereof, between the Company and each Purchaser (the “Purchase
Agreement”).

    

                   The
Company and each Purchaser hereby agrees as follows:

    

            1.                      Definitions

    

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

    

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

    

    “Effectiveness Date”
means, with respect to the Initial Registration Statement required to be filed
hereunder, the earlier of (a) 90th
calendar day following the Filing Date and (b) the 180th
calendar day following the date hereof and with respect to any additional
Registration Statements which may be required pursuant to Section 3(c), the
90th
calendar day following the date on which an additional Registration Statement is
required to be filed hereunder; provided, however, that in the
event the Company is notified by the Commission that one or more of the above
Registration Statements will not be reviewed or is no longer subject to further
review and comments, the Effectiveness Date as to such Registration Statement
shall be the fifth Trading Day following the date on which the Company is so
notified if such date precedes the dates otherwise required above.

    

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

    

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

    

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

     

    
      
         

      

      
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    “Filing Date” means,
with respect to the Initial Registration Statement required hereunder, the
100th
calendar day following the date hereof and with respect to any additional
Registration Statements which may be required pursuant to Section 3(c), the
earliest practical date on which the Company is permitted by SEC Guidance to
file such additional Registration Statement related to the Registrable
Securities.

    

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

    

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

    

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

    

    “Initial Registration
Statement” means the initial Registration Statement filed pursuant to
this Agreement.

    

    “Initial Shares” means
a number of Registrable Securities equal to the lesser of (i) the total number
of Registrable Securities and (ii) one-third of the number of issued and
outstanding shares of Common Stock that are held by non-affiliates of the
Company on the day immediately prior to the filing date of the Initial
Registration Statement.

    

    “Interest Shares”
means the shares of common stock issued or issuable by the Company for the
payment of interest accrued under the Debentures.

    

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

    

    “Plan of Distribution”
shall have the meaning set forth in Section 2(a).

    

    “Prospectus” means the
prospectus included in a Registration Statement (including, without limitation,
a prospectus that includes any information previously omitted from a prospectus
filed as part of an effective registration statement in reliance upon Rule 430A
promulgated by the Commission pursuant to the Securities Act), as amended or
supplemented by any prospectus supplement, with respect to the terms of the
offering of any portion of the Registrable Securities covered by a Registration
Statement, and all other amendments and supplements to the Prospectus, including
post-effective amendments, and all material incorporated by reference or deemed
to be incorporated by reference in such Prospectus.

    

    “Registrable
Securities” means (a) all of the shares of Common Stock issuable upon
conversion in full of the Debentures (assuming on the date of determination the
Debentures are converted in full without regard to any conversion limitations
therein), (b) all of the Interest Shares, (c) all shares of Common Stock
issuable as principal on the Debentures assuming all permissible and principal
payments are made in shares of Common Stock and the Debentures are held until
maturity, (d) the Restricted Shares; (e) any additional shares of Common Stock
issuable in connection with any anti-dilution provisions in the Debentures
(without giving effect to any limitations on conversion set forth in the
Debentures) and (f) any securities issued or issuable upon any stock split,
dividend or other distribution, recapitalization or similar event with respect
to the foregoing; provided, however, that the
Company shall not be required to maintain the effectiveness, or file another
Registration Statement hereunder with respect to any Registrable Securities that
are not subject to the current public information requirement under Rule 144 and
that are eligible for resale without volume or manner-of-sale restrictions
without current public information pursuant to Rule 144 promulgated by the
Commission pursuant to a written opinion letter to such effect, addressed,
delivered and acceptable to the Transfer Agent and the affected
Holders.

    

    “Registration
Statement” means any registration statement required to be filed
hereunder pursuant to Section 2(a) and any additional registration statements
contemplated by Section 3(c), including (in each case) the Prospectus,
amendments and supplements to any such registration statement or Prospectus,
including pre- and post-effective amendments, all exhibits thereto, and all
material incorporated by reference or deemed to be incorporated by reference in
any such registration statement.

    
      
         

      

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

    

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

    

    “Selling Stockholder
Questionnaire” shall have the meaning set forth in Section
3(a).

    

    “SEC Guidance” means
(i) any publicly-available written or oral guidance, comments, requirements or
requests of the Commission staff and (ii) the Securities Act.

    

            2.                      Shelf
Registration

    

    (a) On or
prior to each Filing Date, the Company shall prepare and file with the
Commission a Registration Statement covering the resale of all or such maximum
portion of the Registrable Securities as permitted by SEC Guidance (provided
that, the Company shall use diligent efforts to advocate with the Commission for
the registration of all of the Registrable Securities in accordance with the SEC
Guidance, including without limitation, the Manual of Publicly Available
Telephone Interpretations D.29) that are not then registered on an effective
Registration Statement for an offering to be made on a continuous basis pursuant
to Rule 415.  Each Registration Statement filed hereunder shall be on
Form S-3 (except if the Company is not then eligible to register for resale the
Registrable Securities on Form S-3, in which case such registration shall be on
another appropriate form in accordance herewith) and shall contain (unless
otherwise directed by at least an 85% majority in interest of the Holders)
substantially the “Plan of Distribution”
attached hereto as Annex
A.  Subject to the terms of this Agreement, the Company shall
use its best efforts to cause a Registration Statement to be declared effective
under the Securities Act as promptly as possible after the filing thereof, but
in any event prior to the applicable Effectiveness Date, and shall use its best
efforts to keep such Registration Statement continuously effective under the
Securities Act until all Registrable Securities covered by such Registration
Statement have been sold, or may be sold without volume or manner-of-sale
restrictions pursuant to Rule 144, without the requirement for the Company to be
in compliance with the current public information requirement under Rule 144, as
determined by the counsel to the Company pursuant to a written opinion letter to
such effect, addressed and acceptable to the Transfer Agent and the affected
Holders (the “Effectiveness
Period”).  The Company shall telephonically request
effectiveness of a Registration Statement as of 5:00 p.m. New York City time on
a Trading Day.   The Company shall immediately notify the Holders
via facsimile or by e-mail of the effectiveness of a Registration Statement on
the same Trading Day that the Company telephonically confirms effectiveness with
the Commission, which shall be the date requested for effectiveness of such
Registration Statement.  The Company shall, by 9:30 a.m. New York City
time on the Trading Day after the effective date of such Registration Statement,
file a final Prospectus with the Commission as required by Rule
424.  Failure to so notify the Holder within one Trading Day of such
notification of effectiveness or failure to file a final Prospectus as foresaid
shall be deemed an Event under Section 2(b).  Notwithstanding any other provision of this Agreement
and subject to the payment of liquidated
damages pursuant to Section 2(b), if any
SEC Guidance sets forth a limitation
on the number of Registrable Securities
permitted to be registered on a particular Registration Statement
(and notwithstanding that the Company used diligent efforts to
advocate with the Commission for the registration of all or a greater portion of Registrable Securities), unless otherwise directed
in writing by a Holder as to its Registrable Securities, the number of
Registrable Securities to be registered on such Registration Statement will be
reduced by Registrable Securities represented by Conversion Shares (applied, in the case that some Conversion Shares
may be registered, to the Holders on a pro rata basis based on the total number
of unregistered Conversion Shares held by such Holders). In the event of a
cutback hereunder, the Company shall give the Holder at least five Trading Days
prior written notice along with the calculations as to such Holder’s
allotment.

     

    
      
         

      

      
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    (b) If: (i)
the Initial Registration Statement is not filed on or prior to its Filing Date
(if the Company files the Initial Registration Statement without affording the
Holders the opportunity to review and comment on the same as required by Section
3(a) herein, the Company shall be deemed to have not satisfied this clause (i)),
or (ii) the Company fails to file with the Commission a request for acceleration
of a Registration Statement in accordance with Rule 461 promulgated by the
Commission pursuant to the Securities Act, within five Trading Days of the date
that the Company is notified (orally or in writing, whichever is earlier) by the
Commission that such Registration Statement will not be “reviewed” or will not
be subject to further review, or (iii) prior to the effective date of a
Registration Statement, the Company fails to file a pre-effective amendment and
otherwise respond in writing to comments made by the Commission in respect of
such Registration Statement within 10 calendar days after the receipt of
comments by or notice from the Commission that such amendment is required in
order for such Registration Statement to be declared effective, or (iv) as to,
in the aggregate among all Holders on a pro-rata basis based on their purchase
of the Securities pursuant to the Purchase Agreement, a Registration Statement
registering for resale all of the Initial Shares is not declared effective by
the Commission by the Effectiveness Date of the Initial Registration Statement,
or (v) all of the Registrable Securities are not registered for resale pursuant
to one or more effective Registration Statements on or before November 4, 2009,
or (vi) after the effective date of a Registration Statement, such Registration
Statement ceases for any reason to remain continuously effective as to all
Registrable Securities included in such Registration Statement, or the Holders
are otherwise not permitted to utilize the Prospectus therein to resell such
Registrable Securities (a)  because the Company is negotiating a
merger, consolidation, acquisition or sale of all or substantially all of its
assets or a similar transaction which, in the good faith judgment of the Board
of Directors, requires the Registration Statement to be amended to include
information in connection with such pending transaction (including the parties
thereto) and such information is not yet available or publicly disclosable, for
more than an aggregate of 30 calendar days (which need not be consecutive days)
during any 12-month period or (b) for any other reason, more than an aggregate
of 60 calendar days (which need not be consecutive days) during any 12-month
period, or (vii) the Company shall fail for any reason to satisfy the current
public information requirement under Rule 144 as to the applicable Registrable
Securities (any such failure or breach being referred to as an “Event”, and for
purposes of clauses (i), (iv), (v) and (vii), the date on which such Event
occurs, and for purpose of clause (ii) the date on which such five Trading Day
period is exceeded, and for purpose of clause (iii) the date which such 10
calendar day period is exceeded, and for purpose of clause (vi) the date on
which such 30 or 60 calendar day period, as applicable, is exceeded being
referred to as “Event
Date”), then, in addition to any other rights the Holders may have
hereunder or under applicable law, on each such Event Date and on each monthly
anniversary of each such Event Date (if the applicable Event shall not have been
cured by such date) until the applicable Event is cured, the Company shall pay
to each Holder an amount in cash or shares of the Company’s Common Stock (“Liquidated Damages
Shares”), at the option of the Company, as partial liquidated damages and
not as a penalty, equal to 2% of the aggregate purchase price paid by such
Holder pursuant to the Purchase Agreement for any unregistered Registrable
Securities then held by such Holder; provided, however, with respect
to subsection (v), an Event shall not occur and no liquidated damages shall
accrue if the Registrable Securities may be resold pursuant to Rule 144 without
volume or manner restrictions.  The number of Liquidated Damages
Shares to be issued will be determined by dividing the liquidated damages
payment by 80% of the VWAP for the 10 consecutive Trading Days prior to the
Event Date.  Liquidated Damages Shares shall be delivered to the
Holders within five business days of the Event Date.  If the Company
fails to pay any partial liquidated damages pursuant to this Section in full
within seven days after the date payable, the Company will pay interest thereon
at a rate of 18% per annum (or such lesser maximum amount that is permitted to
be paid by applicable law) to the Holder, accruing daily from the date such
partial liquidated damages are due until such amounts, plus all such interest
thereon, are paid in full. The partial liquidated damages pursuant to the terms
hereof shall apply on a daily pro rata basis for any portion of a month prior to
the cure of an Event.

    

    3.           Registration
Procedures.

    

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

    

    (a) Not less
than five (5) Trading Days prior to the filing of each Registration Statement
and not less than one (1) Trading Day prior to the filing of any related
Prospectus or any amendment or supplement thereto (including any document that
would be incorporated or deemed to be incorporated therein by reference), the
Company shall (i) furnish to each Holder copies of all such documents proposed
to be filed, which documents (other than those incorporated or deemed to be
incorporated by reference) will be subject to the review of such Holders, and
(ii) cause its officers and directors, counsel and independent registered public
accountants to respond to such inquiries as shall be necessary, in the
reasonable opinion of respective counsel to each Holder, to conduct a reasonable
investigation within the meaning of the Securities Act. The Company shall not
file a Registration Statement or any such Prospectus or any amendments or
supplements thereto to which the Holders of a majority of the Registrable
Securities shall reasonably object in good faith, provided that, the Company is
notified of such objection in writing no later than five (5) Trading Days after
the Holders have been so furnished copies of a Registration Statement or one (1)
Trading Day after the Holders have been so furnished copies of any related
Prospectus or amendments or supplements thereto. Each Holder agrees to furnish
to the Company a completed questionnaire in the form attached to this Agreement
as Annex B (a
“Selling Stockholder
Questionnaire”) on a date that is not less than two (2) Trading Days
prior to the Filing Date or by the end of the fourth (4th)
Trading Day following the date on which such Holder receives draft materials in
accordance with this Section.

     

    
      
         

      

      
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    (b) (i)
Prepare and file with the Commission such amendments, including post-effective
amendments, to a Registration Statement and the Prospectus used in connection
therewith as may be necessary to keep a Registration Statement continuously
effective as to the applicable Registrable Securities for the Effectiveness
Period and prepare and file with the Commission such additional Registration
Statements in order to register for resale under the Securities Act all of the
Registrable Securities, (ii) cause the related Prospectus to be amended or
supplemented by any required Prospectus supplement (subject to the terms of this
Agreement), and, as so supplemented or amended, to be filed pursuant to Rule
424, (iii) respond as promptly as reasonably possible to any comments received
from the Commission with respect to a Registration Statement or any amendment
thereto and provide as promptly as reasonably possible to the Holders true and
complete copies of all correspondence from and to the Commission relating to a
Registration Statement (provided that, the Company may excise any information
contained therein which would constitute material non-public information as to
any Holder which has not executed a confidentiality agreement with the Company),
and (iv) comply in all material respects with the provisions of the Securities
Act and the Exchange Act with respect to the disposition of all Registrable
Securities covered by a Registration Statement during the applicable period in
accordance (subject to the terms of this Agreement) with the intended methods of
disposition by the Holders thereof set forth in such Registration Statement as
so amended or in such Prospectus as so supplemented.

    

    (c) If during
the Effectiveness Period, the number of Registrable Securities at any time
exceeds 100% of the number of shares of Common Stock then registered in a
Registration Statement, then the Company shall file as soon as reasonably
practicable, but in any case prior to the applicable Filing Date, an additional
Registration Statement covering the resale by the Holders of not less than the
number of such Registrable Securities.

    

    (d) Notify
the Holders of Registrable Securities to be sold (which notice shall, pursuant
to clauses (iii) through (vi) hereof, be accompanied by an instruction to
suspend the use of the Prospectus until the requisite changes have been made) as
promptly as reasonably possible (and, in the case of (i)(A) below, not less than
one Trading Day prior to such filing) and (if requested by any such Person)
confirm such notice in writing no later than one Trading Day following the day
(i)(A) when a Prospectus or any Prospectus supplement or post-effective
amendment to a Registration Statement is proposed to be filed, (B) when the
Commission notifies the Company whether there will be a “review” of such
Registration Statement and whenever the Commission comments in writing on such
Registration Statement, and (C) with respect to a Registration Statement or any
post-effective amendment, when the same has become effective, (ii) of any
request by the Commission or any other federal or state governmental authority
for amendments or supplements to a Registration Statement or Prospectus or for
additional information, (iii) of the issuance by the Commission or any other
federal or state governmental authority of any stop order suspending the
effectiveness of a Registration Statement covering any or all of the Registrable
Securities or the initiation of any Proceedings for that purpose; (iv) of the
receipt by the Company of any notification with respect to the suspension of the
qualification or exemption from qualification of any of the Registrable
Securities for sale in any jurisdiction, or the initiation or threatening of any
Proceeding for such purpose, (v) of the occurrence of any event or passage of
time that makes the financial statements included in a Registration Statement
ineligible for inclusion therein or any statement made in a Registration
Statement or Prospectus or any document incorporated or deemed to be
incorporated therein by reference untrue in any material respect or that
requires any revisions to a Registration Statement, Prospectus or other
documents so that, in the case of a Registration Statement or the Prospectus, as
the case may be, it will not contain any untrue statement of a material fact or
omit to state any material fact required to be stated therein or necessary to
make the statements therein, in light of the circumstances under which they were
made, not misleading and (vi) of the occurrence or existence of any pending
corporate development with respect to the Company that the Company believes may
be material and that, in the determination of the Company, makes it not in the
best interest of the Company to allow continued availability of a Registration
Statement or Prospectus, provided that, any and all of such information shall
remain confidential to each Holder until such information otherwise becomes
public, unless disclosure by a Holder is required by law; provided, further, that
notwithstanding each Holder’s agreement to keep such information confidential,
each such Holder makes no acknowledgement that any such information is material,
non-public information.

    

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

    

    (f) Furnish
to each Holder, without charge, at least one conformed copy of each such
Registration Statement and each amendment thereto, including financial
statements and schedules, all documents incorporated or deemed to be
incorporated therein by reference to the extent requested by such Person, and
all exhibits to the extent requested by such Person (including those previously
furnished or incorporated by reference) promptly after the filing of such
documents with the Commission; provided, that any such item which is available
on the EDGAR system need not be furnished in physical form.

     

    
      
         

      

      
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    (g) Subject
to the terms of this Agreement, the Company hereby consents to the use of such
Prospectus and each amendment or supplement thereto by each of the selling
Holders in connection with the offering and sale of the Registrable Securities
covered by such Prospectus and any amendment or supplement thereto, except after
the giving of any notice pursuant to Section 3(d).

    

    (h)  The
Company shall cooperate with any broker-dealer through which a Holder proposes
to resell its Registrable Securities in effecting a filing with the FINRA
Corporate Financing Department pursuant to NASD Rule 2710, as requested by any
such Holder, and the Company shall pay the filing fee required by such filing
within two (2) Business Days of request therefor.

    

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

    

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

    

    (k) Upon the
occurrence of any event contemplated by Section 3(d), as promptly as reasonably
possible under the circumstances taking into account the Company’s good faith
assessment of any adverse consequences to the Company and its stockholders of
the premature disclosure of such event, prepare a supplement or amendment,
including a post-effective amendment, to a Registration Statement or a
supplement to the related Prospectus or any document incorporated or deemed to
be incorporated therein by reference, and file any other required document so
that, as thereafter delivered, neither a Registration Statement nor such
Prospectus will contain an untrue statement of a material fact or omit to state
a material fact required to be stated therein or necessary to make the
statements therein, in light of the circumstances under which they were made,
not misleading. If the Company notifies the
Holders in accordance with clauses (iii) through (vi) of Section 3(d) above to
suspend the use of any Prospectus until the requisite changes to such Prospectus
have been made, then the Holders shall suspend use of such
Prospectus.  The Company will use its best efforts to ensure that the
use of the Prospectus may be resumed as promptly as is
practicable.  The Company shall be entitled to exercise its right
under this Section 3(k) to suspend the availability of a Registration Statement
and Prospectus, subject to the payment of partial liquidated damages otherwise
required pursuant to Section 2(b), for a period not to exceed 60 calendar days
(which need not be consecutive days) in any 12 month period.

    

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

    

    (m) The
Company may require each selling Holder to furnish to the Company a certified
statement as to the number of shares of Common Stock beneficially owned by such
Holder and, if required by the Commission, the natural persons thereof that have
voting and dispositive control over the shares. During any periods that the
Company is unable to meet its obligations hereunder with respect to the
registration of the Registrable Securities solely because any Holder fails to
furnish such information within three Trading Days of the Company’s request, any
liquidated damages that are accruing at such time as to such Holder only shall
be tolled and any Event that may otherwise occur solely because of such delay
shall be suspended as to such Holder only, until such information is delivered
to the Company.

    

            4.                      Registration
Expenses. All fees and expenses incident to the performance of or
compliance with this Agreement by the Company shall be borne by the Company
whether or not any Registrable Securities are sold pursuant to a Registration
Statement. The fees and expenses referred to in the foregoing sentence shall
include, without limitation, (i) all registration and filing fees (including,
without limitation, fees and expenses of the Company’s counsel and independent
registered public accountants) (A) with respect to filings made with the
Commission, (B) with respect to filings required to be made with any Trading
Market on which the Common Stock is then listed for trading, (C) in compliance
with applicable state securities or Blue Sky laws reasonably agreed to by the
Company in writing (including, without limitation, fees and disbursements of
counsel for the Company in connection with Blue Sky qualifications or exemptions
of the Registrable Securities) and (D) if not previously paid by the Company in
connection with an Issuer Filing, with respect to any filing that may be
required to be made by any broker through which a Holder intends to make sales
of Registrable Securities with the FINRA pursuant to NASD Rule 2710, so long as
the broker is receiving no more than a customary brokerage commission in
connection with such sale, (ii) printing expenses (including, without
limitation, expenses of printing certificates for Registrable Securities), (iii)
messenger, telephone and delivery expenses, (iv) fees and disbursements of
counsel for the Company, (v) Securities Act liability insurance, if the Company
so desires such insurance, and (vi) fees and expenses of all other Persons
retained by the Company in connection with the consummation of the transactions
contemplated by this Agreement.  In addition, the Company shall be
responsible for all of its internal expenses incurred in connection with the
consummation of the transactions contemplated by this Agreement (including,
without limitation, all salaries and expenses of its officers and employees
performing legal or accounting duties), the expense of any annual audit and the
fees and expenses incurred in connection with the listing of the Registrable
Securities on any securities exchange as required hereunder.  In no
event shall the Company be responsible for any broker or similar commissions of
any Holder or, except to the extent provided for in the Transaction Documents,
any legal fees or other costs of the Holders.

     

    
      
         

      

      
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            5.                      Indemnification.

    

    (a) Indemnification by the
Company. The Company shall, notwithstanding any termination of this
Agreement, indemnify and hold harmless each Holder, the officers, directors,
members, partners, agents, brokers (including brokers who offer and sell
Registrable Securities as principal as a result of a pledge or any failure to
perform under a margin call of Common Stock), investment advisors and employees
(and any other Persons with a functionally equivalent role of a Person holding
such titles, notwithstanding a lack of such title or any other title) of each of
them, each Person who controls any such Holder (within the meaning of Section 15
of the Securities Act or Section 20 of the Exchange Act) and the officers,
directors, members, stockholders, partners, agents and employees (and any other
Persons with a functionally equivalent role of a Person holding such titles,
notwithstanding a lack of such title or any other title) of each such
controlling Person, to the fullest extent permitted by applicable law, from and
against any and all losses, claims, damages, liabilities, costs (including,
without limitation, reasonable attorneys’ fees) and expenses (collectively,
“Losses”), as
incurred, arising out of or relating to (1) any untrue or alleged untrue
statement of a material fact contained in a Registration Statement, any
Prospectus or any form of prospectus or in any amendment or supplement thereto
or in any preliminary prospectus, or arising out of or relating to any omission
or alleged omission of a material fact required to be stated therein or
necessary to make the statements therein (in the case of any Prospectus or
supplement thereto, in light of the circumstances under which they were made)
not misleading or (2) any violation or alleged violation by the Company of the
Securities Act, the Exchange Act or any state securities law, or any rule or
regulation thereunder, in connection with the performance of its obligations
under this Agreement, except to the extent, but only to the extent, that (i)
such untrue statements or omissions are based solely upon information regarding
such Holder furnished in writing to the Company by such Holder expressly for use
therein, or to the extent that such information relates to such Holder or such
Holder’s proposed method of distribution of Registrable Securities and was
reviewed and expressly approved in writing by such Holder expressly for use in a
Registration Statement, such Prospectus or in any amendment or supplement
thereto (it being understood that the Holder has approved Annex A hereto for
this purpose) or (ii) in the case of an occurrence of an event of the type
specified in Section 3(d)(iii)-(vi), the use by such Holder of an outdated or
defective Prospectus after the Company has notified such Holder in writing that
the Prospectus is outdated or defective and prior to the receipt by such Holder
of the Advice contemplated in Section 6(d).  The Company shall notify
the Holders promptly of the institution, threat or assertion of any Proceeding
arising from or in connection with the transactions contemplated by this
Agreement of which the Company is aware.

    

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

    

    (c) Conduct of Indemnification
Proceedings. If any Proceeding shall be brought or asserted against any
Person entitled to indemnity hereunder (an “Indemnified Party”),
such Indemnified Party shall promptly notify the Person from whom indemnity is
sought (the “Indemnifying Party”)
in writing, and the Indemnifying Party shall have the right to assume the
defense thereof, including the employment of counsel reasonably satisfactory to
the Indemnified Party and the payment of all fees and expenses incurred in
connection with defense thereof; provided, that, the failure of any Indemnified
Party to give such notice shall not relieve the Indemnifying Party of its
obligations or liabilities pursuant to this Agreement, except (and only) to the
extent that it shall be finally determined by a court of competent jurisdiction
(which determination is not subject to appeal or further review) that such
failure shall have prejudiced the Indemnifying Party.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    

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

    

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

    

    (d) Contribution. If the
indemnification under Section 5(a) or 5(b) is unavailable to an Indemnified
Party or insufficient to hold an Indemnified Party harmless for any Losses, then
each Indemnifying Party shall contribute to the amount paid or payable by such
Indemnified Party, in such proportion as is appropriate to reflect the relative
fault of the Indemnifying Party and Indemnified Party in connection with the
actions, statements or omissions that resulted in such Losses as well as any
other relevant equitable considerations. The relative fault of such Indemnifying
Party and Indemnified Party shall be determined by reference to, among other
things, whether any action in question, including any untrue or alleged untrue
statement of a material fact or omission or alleged omission of a material fact,
has been taken or made by, or relates to information supplied by, such
Indemnifying Party or Indemnified Party, and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such
action, statement or omission.  The amount paid or payable by a party
as a result of any Losses shall be deemed to include, subject to the limitations
set forth in this Agreement, any reasonable attorneys’ or other fees or expenses
incurred by such party in connection with any Proceeding to the extent such
party would have been indemnified for such fees or expenses if the
indemnification provided for in this Section was available to such party in
accordance with its terms.

    

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

    

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

    

            6.                      Miscellaneous.

    

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

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    

    (b) No Piggyback on
Registrations; Prohibition on Filing Other Registration Statements.
Neither the Company nor any of its security holders (other than the Holders in
such capacity pursuant hereto) may include securities of the Company in any
Registration Statements other than the Registrable Securities; provided, however, the Company
may prepare and file registration statements on Form S-8 relating to equity
securities issuable in connection with the Company’s stock option or other
employee benefit plans for up to 5% of the then total shares of common stock
issued and outstanding, in any 12 month period, of the issued and outstanding
shares of Common Stock as set forth on the Company’s most recent Form 10-K or
Form 10-Q.  The Company shall not file any other registration
statements until all Registrable Securities are registered pursuant to a
Registration Statement that is declared effective by the Commission, provided
that this Section 6(b) shall not prohibit the Company from filing amendments to
registration statements filed prior to the date of this Agreement.

    

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

    

    (d) Discontinued
Disposition.  By its acquisition of Registrable Securities,
each Holder agrees that, upon receipt of a notice from the Company of the
occurrence of any event of the kind described in Section 3(d)(iii) through (vi),
such Holder will forthwith discontinue disposition of such Registrable
Securities under a Registration Statement until it is advised in writing (the
“Advice”) by
the Company that the use of the applicable Prospectus (as it may have been
supplemented or amended) may be resumed.  The Company will use its
best efforts to ensure that the use of the Prospectus may be resumed as promptly
as is practicable.  The Company agrees and acknowledges that any
periods during which the Holder is required to discontinue the disposition of
the Registrable Securities hereunder shall be subject to the provisions of
Section 2(b).

    

    (e) Piggy-Back
Registrations. If, at any time during the Effectiveness Period, there is
not an effective Registration Statement covering all of the Registrable
Securities and the Company shall determine to prepare and file with the
Commission a registration statement relating to an offering for its own account
or the account of others under the Securities Act of any of its equity
securities, other than on Form S-4 or Form S-8 (each as promulgated under the
Securities Act) or their then equivalents relating to equity securities to be
issued solely in connection with any acquisition of any entity or business or
equity securities issuable in connection with the Company’s stock option or
other employee benefit plans, then the Company shall deliver to each Holder a
written notice of such determination and, if within fifteen days after the date
of the delivery of such notice, any such Holder shall so request in writing, the
Company shall include in such registration statement all or any part of such
Registrable Securities such Holder requests to be registered; provided, however, that the
Company shall not be required to register any Registrable Securities pursuant to
this Section 6(e) that are not subject to the current public information
requirement under Rule 144 and that are eligible for resale without volume or
manner-of-sale restrictions without current public information pursuant to Rule
144 promulgated by the Commission pursuant to a written opinion letter to such
effect, addressed, delivered and acceptable to the Transfer Agent and the
affected Holders

    

    (f) Amendments and
Waivers. The provisions of this Agreement, including the provisions of
this sentence, may not be amended, modified or supplemented, and waivers or
consents to departures from the provisions hereof may not be given, unless the
same shall be in writing and signed by the Company and the Holders of 67% or
more of the then outstanding Registrable Securities (including, for this purpose
any Registrable Securities issuable upon exercise or conversion of any
Security).  If a Registration Statement does not register all of the
Registrable Securities pursuant to a waiver or amendment done in compliance with
the previous sentence, then the number of Registrable Securities to be
registered for each Holder shall be reduced pro rata among all Holders and each
Holder shall have the right to designate which of its Registrable Securities
shall be omitted from such Registration Statement. Notwithstanding the
foregoing, a waiver or consent to depart from the provisions hereof with respect
to a matter that relates exclusively to the rights of a Holder or some Holders
and that does not directly or indirectly affect the rights of other Holders may
be given by such Holder or Holders of all of the Registrable Securities to which
such waiver or consent relates; provided, however, that the
provisions of this sentence may not be amended, modified, or supplemented except
in accordance with the provisions of the first  sentence of this
Section 6(f).

    

    (g) Notices. Any and all
notices or other communications or deliveries required or permitted to be
provided hereunder shall be delivered as set forth in the Purchase
Agreement.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    

    (h) Successors and
Assigns. This Agreement shall inure to the benefit of and be binding upon
the successors and permitted assigns of each of the parties and shall inure to
the benefit of each Holder. The Company may not assign (except by merger) its
rights or obligations hereunder without the prior written consent of all of the
Holders of the then outstanding Registrable Securities. Each Holder may assign
their respective rights hereunder in the manner and to the Persons as permitted
under the Purchase Agreement.

    

    (i) No Inconsistent
Agreements. Neither the Company nor any of its Subsidiaries has entered,
as of the date hereof, nor shall the Company or any of its Subsidiaries, on or
after the date of this Agreement, enter into any agreement with respect to its
securities, that would have the effect of impairing the rights granted to the
Holders in this Agreement or otherwise conflicts with the provisions
hereof.  Neither the Company nor any of its Subsidiaries has
previously entered into any agreement granting any registration rights with
respect to any of its securities to any Person that have not been satisfied in
full.

    

    (j) Execution and
Counterparts. This Agreement may be executed in two or more counterparts,
all of which when taken together shall be considered one and the same agreement
and shall become effective when counterparts have been signed by each party and
delivered to the other party, it being understood that both parties need not
sign the same counterpart.  In the event that any signature is
delivered by facsimile transmission or by e-mail delivery of a “.pdf” format
data file, such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed) with the same
force and effect as if such facsimile or “.pdf” signature page were an original
thereof.

    

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

    

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

    

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

    

    (n) Headings. The
headings in this Agreement are for convenience only, do not constitute a part of
the Agreement and shall not be deemed to limit or affect any of the provisions
hereof.

    

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

    

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

    

     

    (Signature
Pages Follow)

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    

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

    

    
      	
              HAGUE
      CORP.

               

               

            
	
              By:__________________________________________

                   Name:
      Stephen Squires

                   Title:
      Chief Executive Officer

               

            

    

    

    

    

    

    

    

    

    

    

    [SIGNATURE
PAGE OF HOLDERS FOLLOWS]

    

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    [SIGNATURE
PAGE OF HOLDERS TO HAGUE RRA]

    

    

    Name of
Purchaser:                                                      MKM
Opportunity Master Fund, Ltd.

    

    Signature of
Purchaser:                                             ______________________________________________________

    

    Name of
Authorized
Signatory:                                 David
Skriloff

    

    Title of
Authorized
Signatory:                                   Portfolio
Manager

    

    

    [SIGNATURE
PAGES CONTINUE]

    

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    

    [SIGNATURE
PAGE OF HOLDERS TO HAGUE RRA]

    

    

    Name of
Purchaser:                                                      Steven
Posner Irrevocable Trust u/t/a Dated 06/17/65

    

    Signature of
Purchaser:                                              ______________________________________________________

    

    Name of
Authorized
Signatory:                                  Steven
Posner

    

    Title of
Authorized
Signatory:                                  
  Trustee

    

    Signature of
Purchaser:                                             
  ______________________________________________________

    

    Name of
Authorized
Signatory:                                    Stuart
Posner

    

    Title of
Authorized
Signatory:                                      Trustee

    

    

    [SIGNATURE
PAGES CONTINUE]

    

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    

    [SIGNATURE
PAGE OF HOLDERS TO HAGUE RRA]

    

    

    Name of
Purchaser:                                                      MKM
SP1, LLC

    

    Signature of
Purchaser:                                              ______________________________________________________

    

    Name of
Authorized
Signatory:                                  David
Skriloff

    

    Title of
Authorized
Signatory:                                    Portfolio
Manager

    

    

    

    

    

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    Annex A

    

    Plan of
Distribution

    

    Each
Selling Stockholder (the “Selling
Stockholders”) of the common stock and any of their pledgees, assignees
and successors-in-interest may, from time to time, sell any or all of their
shares of common stock on the OTC Bulletin Board or any other stock exchange,
market or trading facility on which the shares are traded or in private
transactions.  These sales may be at fixed or negotiated
prices.  A Selling Stockholder may use any one or more of the
following methods when selling shares:

     

    
      	
              ·  

            	
              ordinary
      brokerage transactions and transactions in which the broker-dealer
      solicits purchasers;

            

    

     

    
      	
              ·  

            	
              block
      trades in which the broker-dealer will attempt to sell the shares as agent
      but may position and resell a portion of the block as principal to
      facilitate the transaction;

            

    

     

    
      	
              ·  

            	
              purchases
      by a broker-dealer as principal and resale by the broker-dealer for its
      account;

            

    

     

    
      	
              ·  

            	
              an
      exchange distribution in accordance with the rules of the applicable
      exchange;

            

    

     

    
      	
              ·  

            	
              privately
      negotiated transactions;

            

    

     

    
      	
              ·  

            	
              settlement
      of short sales entered into after the effective date of the registration
      statement of which this prospectus is a
part;

            

    

     

    
      	
              ·  

            	
              broker-dealers
      may agree with the Selling Stockholders to sell a specified number of such
      shares at a stipulated price per
share;

            

    

     

    
      	
              ·  

            	
              through
      the writing or settlement of options or other hedging transactions,
      whether through an options exchange or
  otherwise;

            

    

     

    
      	
              ·  

            	
              a
      combination of any such methods of sale;
or

            

    

     

    
      	
              ·  

            	
              any
      other method permitted pursuant to applicable
  law.

            

    

     

    The
Selling Stockholders may also sell shares under Rule 144 under the Securities
Act of 1933, as amended (the “Securities Act”), if
available, rather than under this prospectus.

     

    Broker-dealers
engaged by the Selling Stockholders may arrange for other brokers-dealers to
participate in sales.  Broker-dealers may receive commissions or
discounts from the Selling Stockholders (or, if any broker-dealer acts as agent
for the purchaser of shares, from the purchaser) in amounts to be negotiated,
but, except as set forth in a supplement to this Prospectus, in the case of an
agency transaction not in excess of a customary brokerage commission in
compliance with FINRA Rule 2440; and in the case of a principal transaction a
markup or markdown in compliance with FINRA IM-2440.

     

    
      
         

      

      
        A-1

        
          

        

      

      
         

      

    

     

    In
connection with the sale of the common stock or interests therein, the Selling
Stockholders may enter into hedging transactions with broker-dealers or other
financial institutions, which may in turn engage in short sales of the common
stock in the course of hedging the positions they assume.  The Selling
Stockholders may also sell shares of the common stock short and deliver these
securities to close out their short positions, or loan or pledge the common
stock to broker-dealers that in turn may sell these securities.  The
Selling Stockholders may also enter into option or other transactions with
broker-dealers or other financial institutions or the creation of one or more
derivative securities which require the delivery to such broker-dealer or other
financial institution of shares offered by this prospectus, which shares such
broker-dealer or other financial institution may resell pursuant to this
prospectus (as supplemented or amended to reflect such
transaction).

     

    The
Selling Stockholders and any broker-dealers or agents that are involved in
selling the shares may be deemed to be “underwriters” within the meaning of the
Securities Act in connection with such sales.  In such event, any
commissions received by such broker-dealers or agents and any profit on the
resale of the shares purchased by them may be deemed to be underwriting
commissions or discounts under the Securities Act.  Each Selling
Stockholder has informed the Company that it does not have any written or oral
agreement or understanding, directly or indirectly, with any person to
distribute the Common Stock. In no event shall any broker-dealer receive fees,
commissions and markups which, in the aggregate, would exceed eight percent
(8%).

     

    The
Company is required to pay certain fees and expenses incurred by the Company
incident to the registration of the shares.  The Company has agreed to
indemnify the Selling Stockholders against certain losses, claims, damages and
liabilities, including liabilities under the Securities Act.

     

    Because
Selling Stockholders may be deemed to be “underwriters” within the meaning of
the Securities Act, they will be subject to the prospectus delivery requirements
of the Securities Act including Rule 172 thereunder.  In addition, any
securities covered by this prospectus which qualify for sale pursuant to Rule
144 under the Securities Act may be sold under Rule 144 rather than under this
prospectus.  There is no underwriter or coordinating broker acting in
connection with the proposed sale of the resale shares by the Selling
Stockholders.

     

    We agreed
to keep this prospectus effective until the earlier of (i) the date on which the
shares may be resold by the Selling Stockholders without registration and
without regard to any volume or manner-of-sale limitations by reason of Rule
144, without the requirement for the Company to be in compliance with the
current public information under Rule 144 under the Securities Act or any other
rule of similar effect or (ii) all of the shares have been sold pursuant to this
prospectus or Rule 144 under the Securities Act or any other rule of similar
effect.  The resale shares will be sold only through registered or
licensed brokers or dealers if required under applicable state securities laws.
In addition, in certain states, the resale shares may not be sold unless they
have been registered or qualified for sale in the applicable state or an
exemption from the registration or qualification requirement is available and is
complied with.

     

    Under
applicable rules and regulations under the Exchange Act, any person engaged in
the distribution of the resale shares may not simultaneously engage in market
making activities with respect to the common stock for the applicable restricted
period, as defined in Regulation M, prior to the commencement of the
distribution.  In addition, the Selling Stockholders will be subject
to applicable provisions of the Exchange Act and the rules and regulations
thereunder, including Regulation M, which may limit the timing of purchases and
sales of shares of the common stock by the Selling Stockholders or any other
person.  We will make copies of this prospectus available to the
Selling Stockholders and have informed them of the need to deliver a copy of
this prospectus to each purchaser at or prior to the time of the sale (including
by compliance with Rule 172 under the Securities Act).

     

    
      
         

      

      
        A-2

        
          

        

      

      
         

      

    

    Annex
B

     

    HAGUE
CORP.

     

    Selling
Stockholder Notice and Questionnaire

     

    The
undersigned beneficial owner of common stock (the “Registrable
Securities”) of Hague Corp., a Nevada corporation (the “Company”),
understands that the Company has filed or intends to file with the Securities
and Exchange Commission (the “Commission”) a
registration statement (the “Registration
Statement”) for the registration and resale under Rule 415 of the
Securities Act of 1933, as amended (the “Securities Act”), of
the Registrable Securities, in accordance with the terms of the Registration
Rights Agreement (the “Registration Rights
Agreement”) to which this document is annexed.  A copy of the
Registration Rights Agreement is available from the Company upon request at the
address set forth below.  All capitalized terms not otherwise defined
herein shall have the meanings ascribed thereto in the Registration Rights
Agreement.

     

    Certain
legal consequences arise from being named as a selling stockholder in the
Registration Statement and the related prospectus.  Accordingly,
holders and beneficial owners of Registrable Securities are advised to consult
their own securities law counsel regarding the consequences of being named or
not being named as a selling stockholder in the Registration Statement and the
related prospectus.

     

    NOTICE

     

    The
undersigned beneficial owner (the “Selling Stockholder”)
of Registrable Securities hereby elects to include the Registrable Securities
owned by it in the Registration Statement.

     

    
      
         

      

      
        B-1

        
          

        

      

      
         

      

    

    The
undersigned hereby provides the following information to the Company and
represents and warrants that such information is accurate:

     

    QUESTIONNAIRE

     

    
      	
               
      

            	
              1.

            	
              Name.

            

    

     

    
      	
               
      

            	
              (a)

            	
              Full
      Legal Name of Selling Stockholder

            

    

     

    
      	 
      
	 
      

    

    
 

    
      	
               
      

            	
              (b)

            	
              Full
      Legal Name of Registered Holder (if not the same as (a) above) through
      which Registrable Securities are
held:

            

    

     

    
      	 
      
	 
      

    

    
 

    
      	
               
      

            	
              (c)

            	
              Full
      Legal Name of Natural Control Person (which means a natural person who
      directly or indirectly alone or with others has power to vote or dispose
      of the securities covered by this
  Questionnaire):

            

    

     

    
      	 
      
	 
      

    

     

    
      	
               
      

            	
              2.  Address
      for Notices to Selling Stockholder:

            

    

     

    
      	 
      
	 
      
	 
      
	
              Telephone:

            
	
              Fax:

            
	
              Contact
      Person:

            

    

    
 

    
      	
               
      

            	
              3.  Broker-Dealer
      Status:

            

    

     

    
      	
               
      

            	
              (a)

            	
              Are
      you a broker-dealer?

            

    

     

    Yes                         No   

     

    
      
         

      

      
        B-2

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              (b)

            	
              If
      “yes” to Section 3(a), did you receive your Registrable Securities as
      compensation for investment banking services to the
    Company?

            

    

     

    Yes                         No   

     

    
      	
              Note:

            	
              If
      “no” to Section 3(b), the Commission’s staff has indicated that you should
      be identified as an underwriter in the Registration
    Statement.

            

    

     

    
      	
               
      

            	
              (c)

            	
              Are
      you an affiliate of a
broker-dealer?

            

    

     

    Yes                         No   

     

    
      	
               
      

            	
              (d)

            	
              If
      you are an affiliate of a broker-dealer, do you certify that you purchased
      the Registrable Securities in the ordinary course of business, and at the
      time of the purchase of the Registrable Securities to be resold, you had
      no agreements or understandings, directly or indirectly, with any person
      to distribute the Registrable
Securities?

            

    

     

    Yes                         No   

     

    
      	
              Note:

            	
              If
      “no” to Section 3(d), the Commission’s staff has indicated that you should
      be identified as an underwriter in the Registration
    Statement.

            

    

     

    
      	
               
      

            	
              4.  Beneficial
      Ownership of Securities of the Company Owned by the Selling
      Stockholder.

            

    

     

    Except
as set forth below in this Item 4, the undersigned is not the beneficial or
registered owner of any securities of the Company other than the securities
issuable pursuant to the Purchase Agreement.

     

    
      	
               
      

            	
              (a)

            	
              Type
      and Amount of other securities beneficially owned by the Selling
      Stockholder:

            

    

     

    
      	 
      
	 
      
	 
      

    

    

      
        
           

        

        
          B-3

          
            

          

        

        
           

        

      

    

     

    
      	
               
      

            	
              5.  Relationships
      with the Company:

            

    

     

    Except
as set forth below, neither the undersigned nor any of its affiliates, officers,
directors or principal equity holders (owners of 5% of more of the equity
securities of the undersigned) has held any position or office or has had any
other material relationship with the Company (or its predecessors or affiliates)
during the past three years.

     

    
      	
               
      

            	
              State
      any exceptions here:

            

    

     

    
      	 
      
	 
      
	 
      

    

    
 

     

    The
undersigned agrees to promptly notify the Company of any inaccuracies or changes
in the information provided herein that may occur subsequent to the date hereof
at any time while the Registration Statement remains effective.

     

    By
signing below, the undersigned consents to the disclosure of the information
contained herein in its answers to Items 1 through 5 and the inclusion of such
information in the Registration Statement and the related prospectus and any amendments or supplements
thereto.  The undersigned understands that such information
will be relied upon by the Company in connection with the preparation or
amendment of the Registration Statement and the related prospectus.

     

    IN
WITNESS WHEREOF the undersigned, by authority duly given, has caused this Notice
and Questionnaire to be executed and delivered either in person or by its duly
authorized agent.

     

    
      
        	 	Beneficial
      Owner:  	 
	 	 	 	 
	
                Date:

              	
                By:
      

              	/s/ 	 
	 	 	Name 	 
	 	 	Title 	 
	 	 	 	 

      

    

     

     

     

    PLEASE
FAX A COPY OF THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE, AND RETURN
THE ORIGINAL BY OVERNIGHT MAIL, TO:

    
 

    
 

     

    
 

    
B-4Unassociated Document

    Exhibit
10.1

    
 

    Agreement
# _____________________

    License
Agreement

    between

    Solterra
Renewable Technologies, Inc.

    and

    William Marsh Rice University

    Rice
Agreement # ___________________

    Effective
Date: _____________________

     

    Solterra
Renewable Technologies, Inc.

    1

    THIS
LICENSE AGREEMENT (“Agreement”), with an Effective Date of August 20, 2008, is
entered
into by William Marsh Rice University, a Texas non-profit
corporation with a principal address at 6100 Main
Street, Houston, TX 77005 (“Rice”), and Solterra Renewable Technologies,
Inc., a Delaware corporation,
with a principal address of 1220 North Market Street, Suite 806, Wilmington,
DE 19801 (“Licensee”).

     

    R
E C I T A L S:

     

    WHEREAS,
Rice is the owner of certain inventions, know-how and rights pertaining to
the
synthesis of uniform nanoparticle shapes with high selectivity, including
without limitation all rights pursuant
to the patent applications and issued patents listed in Exhibit A; and,

     

    WHEREAS,
Licensee desires to secure the exclusive right and license to use, develop,
manufacture, market, and
exploit the inventions disclosed and claimed in the patent applications and
issued patents in Exhibit A; and,

     

    WHEREAS,
Rice believes that such use, development and exploitation of the inventions
disclosed and claimed
in the patent applications and issued patents in Exhibit A is in the public's
best interest and is consistent
with Rice's educational and research missions and goals. 

     

    NOW,
THEREFORE, in consideration of the foregoing, the provisions set forth herein
and the mutual benefits
to be derived herefrom, and for other good and valuable consideration, the
receipt and sufficiency of which are
hereby acknowledged, Rice and Licensee, hereby agree as follows:

     

    SECTION
1 Definitions

     

    1.1
“Adjusted Gross Sales” means the cash consideration or Fair Market Value of any
non-cash consideration
attributable to the Sale of any Rice Licensed Product(s), less qualifying costs
directly attributable
to such Sale and actually identified on the invoice and borne by the seller.
Such qualifying
costs shall be limited to the following:

     

    a)
Discounts, in amounts customary in the trade for quantity
purchases;

     

    b)
Credits or refunds, not exceeding the original invoice amount, for claims or
returns;

     

    c)
Transportation insurance premiums;

     

    d)
Outbound transportation expenses; and/or

     

    e) Sales,
or use taxes, or duties imposed by a governmental agency paid by or on behalf of
seller,
other than any non-U.S. taxes or duties paid by or on behalf of Licensee as
described in
Section 11 below.

     

    1.2
“Confidential Information” means all information that is of a confidential and
proprietary nature to Rice,
including without limitation Rice Patents and related technology. Solterra Renewable Technologies, Inc.
2

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    1.3
“Effective Date” means the date first written above on which this Agreement is
deemed to take effect and both
Parties become subject to the rights and obligations set forth
herein.

     

    1.4
“Entity” means a corporation, an association, a joint venture, a partnership, a
trust, a business, an institution,
an individual, a government or political subdivision thereof, including an
agency, or any other
organization that can exercise independent legal standing.

     

    1.5 “Fair
Market Value” means the cash consideration which one would realize from an
unaffiliated, unrelated
buyer in an arm's length sale of an identical item sold in the same quantity,
under the same terms,
and at the same time and place.

     

    1.6
“Field of Use” means the manufacture and sale of photovoltaic cells and the
manufacture and sales of quantum
dots for electronic and medical applications.

     

    1.7
“Insolvent” means as to Licensee the circumstance in which either 

    (a) the
sum of the Licensee's debts,
liabilities and other obligations is greater than all of the Licensee's assets
at a fair valuation,

     

    (b)
Licensee
is generally not paying its debts, liabilities and other obligations as they
become due, or 

     

    (c) Licensee
is not able to make reasonable assurances to Rice that Licensee will be able to
pay its debts, liabilities
and other obligations as they become due.

     

    1.8
“Liquidity Event” means (i) any merger or consolidation of Licensee with another
entity (other than one in
which stockholders of the Licensee own a majority by voting power of the
outstanding shares of the
surviving or acquiring corporation); (ii) a sale, lease, transfer or other
disposition of all or substantially
all of the assets of the Licensee; and (iii) the closing of a firm commitment
underwritten initial
public offering of common stock of Licensee.

     

    1.9
“Party” shall mean Rice or Licensee individually, and “Parties” shall mean Rice
and Licensee collectively.

     

    1.10
“Rice Intellectual Property” means the Rice Patents.

     

    1.11
“Rice Licensed Product(s)” means product(s) whose manufacture, use or sale is
covered in whole or in part
by any claim of the Rice Patents; product(s) which are made in whole or in part
using a process
or machine covered in whole or in part by a claim of the Rice Patents; or
product(s) made, at least in
part, using Rice Intellectual Property. Rice Licensed Product(s) shall also
include any service rendered
in whole or in part through the use of a product, process or machine covered in
whole or in part by
any claim of any of the Rice Patents or enabled by Rice Intellectual
Property.

     

    1.12
“Rice Patent(s)” are those United States patent applications and issued patents
listed in Exhibit A hereto
and any corresponding foreign patent applications and issued patents, and any
divisionals, continuations,
reissues and reexaminations to the extent that the claims are directed to
subject matter within
the Field of Use.

     

    1.13
“Sale” means any bona fide transaction for which cash or non-cash consideration
is received or expected
for the sale, use, lease, import, transfer or other disposition of Rice Licensed
Product(s). A Sale of
Rice Licensed Product(s) shall be deemed completed at the time Licensee
invoices, ships, or receives
payment for such Rice Licensed Product(s), whichever occurs first. Solterra Renewable Technologies, Inc.
3

     

    1.14
“Term” means the term of this Agreement which shall commence on the Effective
Date and continue until the
date of expiration of the last to expire of Rice’s rights in Rice Intellectual
Property, unless sooner
terminated pursuant to the terms of this Agreement.

     

    1.15
“Territory” means world-wide.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    SECTION
2 License Grant

     

    2.1 Grant
of Exclusive Rights. Rice grants to Licensee an exclusive license under the Rice
Intellectual Property
listed in Exhibit A, to make, have made, use, import, offer for sale, sell,
lease, or otherwise transfer
Rice Licensed Products in the Field of Use in the Territory , without the right
to sub-license, during
the Term of this Agreement subject to Rice’s rights set forth in Sections 2.4,
and 7 and to any federal
government interest reserved or granted to the Government of the United States
as a matter of law or
statute, or to a foreign state pursuant to an existing or future treaty with the
United States. No other
rights or licenses are granted hereunder.

     

    2.2
Additional Licenses. A license in any other territory or field of use in
addition to the Territory and/or Field of
Use shall be the subject of a separate agreement and shall require Licensee’s
submission of evidence,
satisfactory to Rice, demonstrating Licensee’s willingness and ability to
develop and commercialize
in such other territory and/or field of use the kinds of products or processes
likely to be
encompassed in such other territory and/or field.

     

    2.3 U.S.
Manufacturing. Licensee agrees that any Rice Licensed Products made, used, or
sold in the United
States will be manufactured substantially in the United States.

     

    2.4
Rice’s Continuing Educational and Research Rights.

     

    a)
Notwithstanding the grant of rights to Licensee in Section 2.1, Licensee
acknowledges that Rice
shall retain a continuing irrevocable worldwide right to use Rice Intellectual
Property on a
non-exclusive royalty-free basis for any purpose, including, but not limited to,
the right to make,
have made, use or transfer or to authorize the make, use, or transfer of Rice
Licensed
Product(s), in each case, for educational and research purposes only, including,
but

    not
limited to, third party sponsored research and collaborations with investigators
from other
institutions or government agencies and grant to others non-exclusive licenses
to make and use
for academic research purposes the subject matter described and claimed in Rice
Patent
Rights. Licensee further acknowledges that the scope of Rice’s continuing rights
includes
the right to publish and disclose any research results related to any of the
foregoing.

     

    b) Rice
shall have the right to use, free of charge, any product or process, developed
by Licensee
which contains or is based on any Rice Licensed Product, for Rice research,
educational,
academic or administrative purposes.

     

    c) No
provision of this Agreement shall restrict Rice’s ability to conduct further
research and development
in the area of the Rice Licensed Products or other areas.

     

    SECTION
3 Fees, Royalties and Commercial Obligations

     

    3.1
License Initiation Fee and Royalties. Solterra Renewable Technologies, Inc.
4

     

    a) In
partial consideration of the exclusive license granted herein, Licensee shall
pay to Rice, a non-refundable,
non-creditable, license initiation fee of US $40,000.00 (FORTY THOUSAND
US DOLLARS) payable within five business days after Solterra receives
initial
funding, and no later than September 2, 2008. 

     

    b) In
further consideration of the exclusive license granted herein, Licensee shall
pay to Rice a royalty
calculated as a percentage of Adjusted Gross Sales attributed to Licensee
(“Royalty”)
according to the following schedule:

     

    For
photovoltaic cells:

     

    Royalty

    From the
Effective Data to July 31, 2011 2%

    From
August 1, 2011 to July 31, 2012 3%

    From
August 1, 2012 and thereafter 4%

    For
quantum dots sold into electronic and medical applications:

     

    Royalty

    From the
Effective Date 7.5%

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    c) In the
event that a Rice Licensed Product(s) is sold in combination with another
product which is
itself not a Rice Licensed Product(s), Adjusted Gross Sales shall be calculated
by multiplying
the sales price of such combination Sale by the fraction A/(A+B) where A is the
Fair
Market Value of the Rice Licensed Product(s) and B is the Fair Market Value of
the other
product in the combination Sale. In no case shall royalties due to Rice be less
than 50% of
the corresponding Royalty as listed above.

     

    d)
Royalties and other amounts payable by Licensee to Rice under this Section 3.1
shall accompany
reports as set forth in Section 3.4 below.

     

    3.2
Success Fee. Upon the occurrence of a Liquidity Event, Licensee shall pay Rice a
Success Fee of US
$700,000.00 (SEVEN HUNDRED THOUSAND US DOLLARS) dollars due within 5
business
days of the Liquidity Event.

     

    3.3
Diligence Milestones and Annual Minimum Royalties.

     

    a)
Licensee shall pay Rice a minimum royalty each year (“Annual Minimum Royalty”),
payable on August
1 of each year. The Annual Minimum Royalty shall be credited against the
Royalties
due in the forthcoming 12 months. Licensee shall pay Rice Annual Minimum
Royalties
according to the following schedule:

    

       

      
        	 Due Date
      	 	Annual Minimum
      Royalty
	 August 1,
      2010	 	 $129,450.00
	 August 1,
      2011	 	  $473,250.00
	 August 1,
      2012	 	 $1,746,000.00
	 August 1, 2013
      and each August 1 of every year thereafter 	 	 $3,738,600.00
	 	 	 

      

       

    

    These
Annual Minimums are creditable towards Royalties due in the forthcoming 12
months only.
Solterra Renewable Technologies, Inc.
5

     

    b) The
Annual Minimum Royalties will be adjusted by the cumulative percentage change in
the CPI-W
Consumer Price Index between August and the July preceding the date on which the
payment
in question is payable.

     

    c)
Licensee shall use its best efforts to develop for commercial use and to market
Rice Licensed Product(s)
as soon as practicable, consistent with sound and reasonable business practices.
Licensee
shall also meet the milestones set forth in Exhibit B. 

     

    d)
Licensee shall provide Rice on each June 1 and December 1 during the Term of
this Agreement
with written reports, setting forth in such detail as Rice may reasonably
request, the
progress of the research and development, evaluation, testing, regulatory
approvals, manufacturing,
marketing and sales and commercialization of any Rice Licensed Product(s)
(“Progress
Reports”) for the most recent time period and plans for the forthcoming year. If
multiple
technologies are covered by the license granted hereunder, the Progress Report
shall provide
the information set forth above for each technology. If progress differs from
that anticipated
in the plan required under Exhibit B, Licensee shall explain the reasons for the
difference
and propose a modified research and development plan for Rice’s review and
approval.
Licensee shall also provide any reasonable additional data Rice requires to
evaluate
Licensee’s performance. Licensee shall also notify Rice within thirty (30) days
of the first
commercial Sale each type of Rice Licensed Product(s) in each country.

     

    e) At any
time after three (3) years from the Effective Date of this Agreement, Rice may
terminate
or render this license non-exclusive in whole or in part as appropriate, if in
Rice’s reasonable
judgment, the Progress Reports furnished by Licensee do not demonstrate that
Licensee:

     

    1. Has
put the licensed subject matter into commercial use in the country or countries
hereby licensed
directly or through a sublicense, and is keeping the licensed subject matter
reasonably
available to the public; or

     

    2. Is
engaged in research, development, manufacturing, marketing or sublicensing
activity appropriate
to achieving the milestones set forth in Exhibit B. 

     

    3.4
Royalty Reports and Royalty Payments. Licensee shall deliver to Rice within
forty-five (45) days after the
end of each calendar quarter, any part of which is within the Term of this
Agreement, a written
report, certified by the chief financial officer of Licensee and setting forth
in reasonable detail the
calculation of the royalties due to Rice for such calendar quarter, including,
without limitation:

     

    a) Number
of Rice Licensed Product(s) sold, listed by country in which the Sale
occurred;

     

    b) Type
of Rice Licensed Product sold and corresponding Rice Patent(s) involved with
each Rice
Licensed Product

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    c)
Adjusted Gross Sales listed by country in which the Sale occurred;
and

     

    d)
Payments owed to Rice, listed by category, including without limitation,
royalties on Sales, including
the relative Fair Market Values attributable to Rice Licensed Product(s).
Solterra Renewable Technologies, Inc.
6 Licensee
shall accompany each report of this Section 3.4 with the payment of amounts due
to Rice; provided
however, if Licensee has not received the consideration due for a Sale, then
amounts due to Rice with
respect to such unreceived consideration will be payable by Licensee to Rice
upon receipt thereof
by Licensee. If no amounts are due to Rice for any reporting period, the report
shall so state.

     

    3.5
Records. Licensee will maintain complete and accurate books and records that
enable the royalties payable
hereunder to be verified. The records for each calendar quarter shall be
maintained for five (5) years
after the submission of each report under Section 3.4 hereof.

     

    3.6
Audits.

     

    a) Upon
reasonable prior notice to Licensee, Rice or its appointed accountants shall
have access to such
books and records relating to Adjusted Gross Sales as necessary to conduct a
review or audit
of Adjusted Gross Sales. Such access shall be available to Rice not more than
once each
calendar year of the Term of this Agreement, during normal business hours, and
once a year for
three years after the expiration or termination of this Agreement. If an audit
of

    Licensee’s
records indicate that Licensee has underpaid royalties by five percent (5%) or
more,
Licensee will pay the costs and expenses incurred by Rice and its accountants,
if any, in
connection with the review or audit.

     

    b)
Whenever Licensee has its books and records audited by an independent certified
public accountant,
Licensee shall, within thirty (30) days of the conclusion of such audit, provide
Rice with
a written statement, certified by said auditor, setting forth the calculation of
royalties
due to Rice over the time period audited as determined from the books and
records of the
Licensee.

     

    c)
Licensee shall have its financial statements audited by nationally or regionally
recognized qualified
auditors on an annual basis during the Term of this Agreement and will deliver a
copy of
such audited financial statements and any accompanying auditor’s report to
Rice within
ninety (90) days after the end of each of Licensee’s fiscal years, any part of
which are within
the Term of this Agreement.

     

    3.7
Country, Place of Payment, Interest.

     

    a) All
dollar amounts referred to in this Agreement are expressed in United States
dollars and all
payments to Rice shall be made in United States dollars by check payable to
“William Marsh
Rice University.”

     

    b)
Amounts that are not paid when due hereunder shall accrue interest from the due
date until paid, at
a rate equal to one and one-half percent (1.5%) per month (or the maximum
allowed by law,
if less).

     

    SECTION
4 Patent Expenses and Reimbursement

     

    4.1 Rice
shall work closely with Licensee to develop a suitable strategy for the
prosecution and maintenance
of Rice Patents; provided that Rice shall maintain final authority in all
decisions regarding
the prosecution and maintenance of Rice Patents. Licensee shall promptly
reimburse Rice for all
documented attorneys' fees, expenses, official fees and other charges incident
to the preparation,
prosecution and maintenance of Rice Patents pursuant to the strategy developed
by Rice Solterra Renewable Technologies, Inc.
7 in
consultation with Licensee, including all patent expenses incurred by Rice
related to the prosecution
and maintenance of Rice Patents prior to the Effective Date of this Agreement..
Licensee
shall not be liable for fees and expenses associated with the preparation,
prosecution and maintenance
of Rice Patents that Licensee has specifically advised Rice in writing that it
does not desire to
pursue. Licensee may elect to surrender Rice Patent Rights in any country upon
at least sixty
(60) days’ prior written notice to Rice. Such notice shall not relieve Licensee
from responsibility
to reimburse Rice for patent-related expenses incurred prior to the expiration
of the sixty
(60) day notice period (or such longer period specified in Licensee’s notice).
Rice shall provide Licensee
with itemized statements reflecting the expenses owed to Rice for the
preparation,

    prosecution
and maintenance of Rice Patents, and Licensee shall reimburse Rice for such
expenses within
thirty (30) days after receipt of such statement. 

     

    4.2 Rice
shall confer with Licensee regarding choice of patent counsel. Although Rice
shall maintain final
authority in all decisions regarding patent counsel selection, it is intended
that both Rice and Licensee
will interact directly with the selected patent counsel in all phases of patent
prosecution: preparation,
office action responses, filing strategies for continuation or divisional
applications, etc. Rice will
request that copies of all documents prepared by the counsel be provided to
Licensee for review
and comment prior to filing to the extent practicable under the circumstances.

     

    4.3 Rice
shall confer with Licensee as to the countries in which Licensee desires Rice to
seek patent protection.
Licensee shall, upon request by Rice, provide Rice or its authorized
representative with any
information needed to file or prosecute such patent application and will execute
and deliver to Rice all
documents required to file and prosecute such patent application. Should Rice
elect not to apply for
patent protection in a country desired by Licensee, Rice shall use reasonable
efforts to give Licensee
written notice of its decision at least thirty (30) days prior to the applicable
deadline for such
foreign filing.

     

    4.4
Licensee shall comply with all United States and foreign laws with respect to
patent and copyright marking
of Rice Licensed Product(s).

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    4.5 Each
party shall provide to the other prompt notice with respect to all matters that
come to its attention
that may affect the preparation, prosecution or maintenance of any Rice Patents
or Rice Copyrights.
In particular, licensee must immediately notify Rice if Licensee does not
qualify as a “small
entity” as provided by the United States Patent and Trademark
Office.

     

    SECTION
5 Term and Termination

     

    5.1 This
Agreement, unless sooner terminated as provided herein, shall terminate at the
end of the Term of this
Agreement as defined in Section 1.16.

     

    5.2
Licensee, at its option, may terminate this Agreement at any time by doing all
of the following:

     

    a) By
ceasing to make, have made, use and sell any Rice Licensed
Product(s);

     

    b) By
giving sixty (60) days prior written notice to Rice of such cessation and of
Licensee's intent to
terminate; and

     

    c) By
tendering payment of all accrued royalties and other payments due to Rice.
Solterra Renewable Technologies, Inc.
8

     

    5.3 Rice,
at its option, may terminate this Agreement, upon written notice to Licensee of
Rice's intent to terminate,
if any of the following occur:

     

    a)
Licensee has not met a milestone set forth in Exhibit B; or

     

    b)
Licensee ceases development, marketing, sales or other commercialization efforts
with regard to Rice
Licensed Product(s) in the Field of Use; or

     

    c)
Licensee becomes more than fifteen (15) days in arrears in any payments, fees or
other expenses due
pursuant to this Agreement; or

     

    d)
Licensee breaches this Agreement, other than being in arrears in payments, fees
or other expenses,
and does not cure such breach within forty-five (45) days after receiving
written notice thereof
from Rice.

     

    e) If, at
any time after three years from the date of this Agreement, Rice determines that
the Agreement
should be terminated pursuant to Section 3.3(d). 

     

    f) An
examination by Rice’s accountant pursuant to Section 3.6 shows an underreporting
or underpayment
by LICENSEE in excess of twenty (20%) for any twelve (12) month period.

     

    g)
Licensee, or any of its officers, is convicted of a felony relating to the
manufacture, use, or sale of Rice
Licensed Products.

     

    h)
Licensee provides any false report, which has not been corrected within thirty
(30) days after written
notice thereof by Rice or within thirty (30) days after Licensee becomes aware
that false information
has been provided, whichever occurs earlier. 

     

    5.4 If
Licensee becomes Insolvent, all duties of Rice and all rights (but not duties)
of Licensee under this Agreement
shall immediately terminate without the necessity of any action being taken by
Rice or by Licensee.
In addition, if Licensee becomes Insolvent, Rice, at its option, may terminate
this Agreement
immediately upon written notice to Licensee.

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    5.5 Upon
termination of this Agreement, except under Section 5.1, Licensee shall have
ninety (90) days to
complete the manufacture of work in progress and one hundred eighty (180) days
to complete the sale of
any Rice Licensed Product(s) in stock or in the course of manufacture at the
time of termination;
provided, however, that all such Sales are subject to the royalty and accounting
obligations
set forth in this Agreement, even if such royalty obligations arise from
transactions subsequent
to the effective date of termination.

     

    5.7 Upon
termination of this Agreement, except under Section 5.1,
Licensee shall, at Rice's request, return to
Rice all Confidential Information and Rice Technical Information fixed in any
tangible medium of
expression, as well as any data generated by Licensee during the term of this
Agreement which
will facilitate the development of any technology licensed hereunder.

     

    5.8
Licensee's obligation to pay royalties accrued during the Term of this Agreement
under Section 3 hereof
shall survive termination of this Agreement. For the avoidance of doubt, the
parties acknowledge
and agree that in no event shall the termination of this Agreement release
Licensee from the
obligation to pay any amounts that become due on or before the effective date of
termination Solterra Renewable Technologies, Inc.
9 under
Sections 3, 4, 7, and 8. In addition, the provisions of Sections 3.6, 3.7, 5, 6,
7, 8, 9, 11, 12 and 13 shall survive any termination or
expiration of this Agreement, and each Party shall remain obligated
under any
other provisions that expressly or by their nature survive any expiration or
termination of this Agreement.

     

    5.9
Licensee may terminate this Agreement by giving ninety (90) days advance written
notice of termination
to Rice and paying a termination fee of US $100,000.00 dollars (ONE HUNDRED
THOUSAND
US DOLLARS). Upon termination, Licensee shall submit a final Royalty Report to
Rice and
any royalty payments and unreimbursed patent expenses invoiced by Rice shall
become immediately
payable.

     

    SECTION
6 Confidentiality

     

    6.1
Licensee agrees to maintain in confidence and not to disclose to any third party
any Confidential Information
received pursuant to this Agreement, including any Confidential Information
disclosed to Licensee
prior to the Effective Date; provided however, that Confidential Information may
be disclosed
to legal counsel or, upon execution of an appropriate confidentiality agreement,
to corporate
partners or potential corporate partners, investment bankers or consultants.
Licensee agrees to ensure
that its employees have access to Confidential Information only on a
need-to-know basis and that
they are obligated in writing to abide by Licensee's obligations hereunder. The
foregoing obligation
shall not apply to: 

     

    a)
Information that is known to Licensee prior to the time of disclosure, in each
case, to the extent evidenced
by written records promptly disclosed to Rice upon receipt of the Confidential
Information;

     

    b)
Information disclosed to Licensee by a third party that has a right to make such
disclosure without
any obligation of confidentiality; 

     

    c)
Information that is independently developed by Licensee by employees not having
access to or knowledge
of Confidential Information, in each case, to the extent evidenced by written
records disclosed
to Rice;

     

    d)
Information that becomes patented, published or otherwise part of the public
domain as a result of acts
by Rice, or a third person obtaining such information as a matter of right
without any obligation
of confidentiality;

     

    e)
Information that is required to be disclosed by order of United States
governmental authority or a court of
competent jurisdiction; provided that Licensee shall use its best efforts to
obtain confidential
treatment of such information by the authority or court. 

     

    6.2 Rice
shall not be obligated to accept or protect any confidential information from
Licensee unless provided
for in a separate agreement between the Parties. 

     

    6.3 The
placement of a copyright notice on any Confidential Information shall not be
construed to mean that such
information has been published and will not release Licensee from its obligation
of confidentiality
hereunder.

     

    SECTION
7 Infringement and Litigation

     

    Solterra Renewable Technologies, Inc.
10

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    7.1 Rice
and Licensee are responsible for notifying each other promptly of any
infringement of Rice Intellectual
Property or any misappropriation of Rice Confidential Information or Rice
Technical Information
that may come to their  attention. Rice and Licensee shall consult one
another in a timely manner
concerning any appropriate response thereto.

     

    7.2 With
respect to any Rice Patents that are exclusively licensed to Licensee pursuant
to this Agreement, Licensee
shall have the right, but not the obligation to prosecute in its own name such
infringement or
misappropriation at its own expense, so long as such license is exclusive at the
time of the commencement
of such action. Before Licensee commences an action with respect to any
infringement
of such patents, Licensee shall give careful consideration to the views of Rice
and to potential
effects on the public interest in making its decision whether or not to sue.
Licensee shall not settle or
compromise any such suit in a manner that imposes any obligations or
restrictions on Rice or

    grants
any rights to Rice Intellectual Property, without Rice's advance written
consent. Financial recoveries
from any such litigation will first be applied to reimburse Licensee and Rice
for its outside counsel
fees and court costs with additional recoveries being shared equally by Licensee
and Rice. 

     

    7.3
Licensee’s prosecution rights under Section 7.2 shall be subject to the
continuing right of Rice to intervene
at Rice's own expense and join Licensee in any claim or suit for infringement or
misappropriation
of Rice Intellectual Property. If Rice elects to join as a party, Rice shall
jointly control
the action with Licensee. Licensee shall reimburse Rice for any costs Rice
incurs, including reasonable
attorneys’ fees, as part of an action brought by Licensee, irrespective of
whether Rice becomes a
co-plaintiff. Any financial recoveries shall first be applied to reimburse
Licensee and Rice for their
outside counsel fees and court costs with any remainder being shared equally
between Rice

    and
Licensee. 

     

    7.4 If
Licensee fails to prosecute such infringement or misappropriation, Rice shall
have the right, but not the
obligation, to prosecute such infringement or misappropriation at its own
expense. In such event, financial
recoveries will be entirely retained by Rice. 

     

    7.5 In
any action to enforce any of the Rice Intellectual Property, either Party, at
the request and expense of the
other Party, shall cooperate to the fullest extent reasonably possible. This
provision shall not be
construed to require either Party to undertake any activities, including legal
discovery, at the request
of any third party except as may be required by lawful process of a court of
competent jurisdiction.

     

    7.6 If a
declaratory judgment action is brought naming Licensee or Rice as a defendant
and alleging invalidity
or unenforceability of any of the Rice Patents, whether brought as an
independently filed declaratory
judgment action or as a counterclaim in any infringement-related litigation,
Rice may elect to
take over the sole defense of the declaratory judgment action or the declaratory
judgment counterclaim
portion of the other litigation, at its own expense. Each party shall promptly
notify the other
party hereto of its receipt of any such allegations. Licensee shall cooperate
fully with Rice in connection
with any such defense. Rice retains the right, exercisable in the sole
discretion of Rice

    and upon
advance notice to Licensee, to grant non-exclusive licenses under the Rice
Patents in the Field of
Use to third parties as a means to resolve such declaratory judgment actions or
counterclaims.
Rice shall also have the right to grant non-exclusive licenses under the Rice
Patents in the
Field of Use to third parties as a means to resolve or settle claims, suits or
proceedings arising out of
allegations that Rice or any of its employees have, through their work related
to nanotechnology,
infringed the intellectual property rights of others. If Rice grants any
non-exclusive Solterra Renewable Technologies, Inc.
11  license
under the terms of this Section, the economic terms of this Agreement will be
adjusted to account
for the reduction in the scope of rights granted to Licensee. Nothing in this
Section 7.6 shall be
construed as obligating Rice to resolve any dispute or to settle or defend any
claim, suit or proceeding
arising out of Licensee’s manufacture, use or sale of Rice Licensed
Products.

     

    7.7 In
the event that Licensee does challenge the validity or enforceability of one or
more of the Rice Patents
(or any claims therein), Rice may, at its option, upon written notice to
Licensee: (1) terminate
this Agreement or (2) require an augmented royalty of up to three times the
Royalties payable
under Section 3.1. Such challenge of validity or enforceability includes, but is
not limited to, actions
before the United States Patent and Trademark Office, such as through
reexamination. Any challenge
by Licensee of the Patents shall be brought in the United States District Court
in Harris County,
Texas, or, when appropriate, the United States Patent and Trademark Office, with
at least

    thirty
(30) days written notice to Rice. Licensee shall pay all of Rice’s reasonable
attorneys' fees, costs,
and expenses associated with an unsuccessful challenge. A challenge shall be
deemed unsuccessful
if any claim of a challenged Rice Patent remains valid and enforceable after the
challenge
(even when the claim is narrowed in scope). Under no circumstance shall Rice pay
any of Licensee's
attorneys' fees, costs, and expenses related to any challenge of one or more of
the Rice Patents.

     

    7.8
Non-assert. Licensee and Rice agree that Licensee shall not assert Rice
Intellectual Property infringement
claims against not-for-profit research institutions for activities related to
research, teaching,
education, or academic purposes.

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    SECTION
8 

    Disclaimer
of Warranty; Limitation of Liability; Indemnification

     

    8.1
THE RICE INTELLECTUAL PROPERTY, AND ANY OTHER INFORMATION OR TECHNOLOGY
PROVIDED BY RICE AND USED IN THE MANUFACTURE, USE, IMPORT,
SALE, OFFER FOR SALE, LEASE, OR OTHER TRANSFER OF RICE LICENSED
PRODUCT(S) ARE PROVIDED ON AN “AS IS” BASIS AND RICE MAKES NO REPRESENTATIONS
OR WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT THERETO.
BY WAY OF EXAMPLE BUT NOT OF LIMITATION, RICE MAKES NO REPRESENTATIONS
OR WARRANTIES (I) OF COMMERCIAL UTILITY, (II) OF MERCHANTABILITY
OR FITNESS FOR A PARTICULAR PURPOSE, OR (III) THAT THE USE
OF THE RICE INTELLECTUAL PROPERTY, OR RICE LICENSED PRODUCT(S) WILL
NOT INFRINGE ANY PATENT, COPYRIGHT, TRADEMARK, OR OTHER PROPRIETARY
OR PROPERTY RIGHTS OF OTHERS. 

     

    8.2
IN NO EVENT SHALL RICE BE LIABLE TO LICENSEE, LICENSEE'S SUCCESSORS OR
ASSIGNS
OR ANY THIRD PARTY WITH RESPECT TO ANY CLAIM (I) ARISING FROM THE
USE OF THE RICE INTELLECTUAL PROPERTY, (II) ARISING FROM THE MANUFACTURE,
USE, IMPORT, OR SALE OR OFFER FOR SALE, LEASE OR OTHER TRANSFER
OF RICE LICENSED PRODUCT(S), (III) FOR LOSS OF PROFITS, LOSS OR

    INTERRUPTION
OF BUSINESS, OR (IV) FOR INDIRECT, INCIDENTAL, CONSEQUENTIAL,
SPECIAL, EXEMPLARY OR PUNITIVE DAMAGES OF ANY KIND. 

     

    8.3
LICENSEE SHALL INDEMNIFY, DEFEND, AND HOLD HARMLESS RICE, ITS TRUSTEES,
OFFICERS, AGENTS, SUBCONTRACTORS, STUDENTS AND EMPLOYEES (INDIVIDUALLY,
AN “INDEMNIFIED PARTY”, AND COLLECTIVELY, THE “INDEMNIFIED
PARTIES”) FOR, FROM AND AGAINST ANY AND ALL LIABILITY,

     

    Solterra Renewable Technologies, Inc.
12

     

    LOSS,
DAMAGE, ACTION, CLAIM OR EXPENSE SUFFERED OR INCURRED BY THE INDEMNIFIED
PARTIES (INCLUDING, BUT NOT LIMITED TO, ATTORNEYS’ FEES AND
OTHER COSTS AND EXPENSES OF LITIGATION) (INDIVIDUALLY, A “LIABILITY”,
AND COLLECTIVELY, THE “LIABILITIES”) BASED UPON, ARISING OUT
OF, OR OTHERWISE RELATING TO THIS AGREEMENT, INCLUDING WITHOUT

    LIMITATION
ANY CAUSE OF ACTION RELATING TO PRODUCT LIABILITY CONCERNING
ANY BREACH OF THIS AGREEMENT BY LICENSEE, USE OF THE RICE
PATENT RIGHTS GRANTED UNDER THIS AGREEMENT BY LICENSEE, OR RICE
LICENSED PRODUCT MANUFACTURED,, USED, IMPORTED, SOLD OR OFFERED
FOR SALE, LEASED, TRANSFERRED OR OTHERWISE DISPOSED OF PURSUANT
TO ANY RIGHT OR LICENSE GRANTED UNDER THIS AGREEMENT.

     

    8.4
The Indemnified Party shall promptly notify Licensee of any claim or action
giving rise to Liabilities.
Licensee shall have the right to defend any such claim or action, at its cost
and expense
with attorneys satisfactory to Rice.  Licensee shall not settle or
compromise any such claim
or action in a manner that imposes any restrictions or obligations on Rice or
grants any rights
to the Rice Intellectual Property or Rice Licensed Product(s) without Rice's
prior written consent.
If Licensee fails or declines to assume the defense of any such claim or action
within thirty
(30) days after notice thereof, or if representation of such Indemnified Party
by the counsel
retained by Licensee would be inappropriate because of actual or potential
differences in
the interests of such Indemnified Party any other party represented by such
counsel, Rice may
assume the defense of such claim or action for the account and at the risk of
Licensee, and any
liabilities related thereto shall be conclusively deemed a liability of
Licensee. Licensee shall pay
promptly to the Indemnified Party any Liabilities to which the foregoing
indemnity relates,

    as
incurred. The indemnification rights of Rice or any other Indemnified Party
contained herein
are in addition to all other rights which Rice or such other Indemnified Party
may have at
law or in equity or otherwise.

     

    SECTION
9 Insurance

     

    9.1
Licensee shall procure and maintain in full force and effect, throughout the
Term of this Agreement, commercial
general liability insurance for a minimum amount of $5,000,000 per occurrence
and $5,000,000
in the aggregate. Such commercial general liability insurance shall provide: (i)
product liability
coverage; and (ii) broad form contractual liability coverage for Licensee’s
indemnification obligations
under this Agreement. Licensee shall maintain such commercial general liability
insurance
after the expiration or termination of this Agreement during any period in which
Licensee continues
to make, use, perform or sell a product that was a Rice Licensed Product under
this

    Agreement,
and thereafter for a period of five (5) years. 

     

    9.2 Rice
reserves the right to request additional policies of insurance where appropriate
and reasonable in light of
Licensee’s business operations and availability of coverage.

     

    9.3 The
policy or policies of insurance specified herein shall be issued by an insurance
carrier with an A.M. Best
rating of “A” or better and shall name Rice as an additional insured with
respect to Licensee's
performance of this Agreement. All rights of subrogation shall be waived against
Rice and its
insurers. Licensee shall, upon request by Rice, provide Rice with certificates
evidencing the insurance
coverage required herein and all subsequent renewals thereof. Such certificates
shall Solterra Renewable Technologies, Inc.
13 provide
that Licensee's insurance carrier(s) notify Rice in writing at least 30 days
prior to a cancellation
or material change in coverage. 

     

    9.4 The
specified minimum insurance amounts shall not constitute a limitation on
Licensee's obligation to
indemnify Rice under this Agreement.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    SECTION
10 Use of Names; Independent Contractor

     

    10.1
Licensee and its employees and agents shall not use Rice's name, any adaptation
thereof, any Rice logotype,
trademark, service mark or slogan or the name mark or logotype of any Rice
faculty, staff, student
representative or  organization in any way without the prior, written
consent of Rice. 

     

    10.2 Rice
shall permit Licensee to acknowledge that Licensee has entered into an exclusive
license for  rights to
certain technology developed at Rice.

     

    10.3
Licensee and Rice intend that their relationship under this Agreement shall be
as independent contractors,
and neither Licensee nor Rice shall conduct themselves in a manner inconsistent
with such
independent contractor status. Nothing in this Agreement nor any performance
hereunder is intended,
or shall be construed, to create a partnership, joint venture or other form of
business enterprise,
or relationship of agency or employment, between Licensee and Rice (including,
its faculty,
students and employees). Moreover, neither Party shall have the authority to
enter into contracts
on behalf of the other Party.

     

    SECTION
11 Foreign Taxes

     

    11.1
Licensee shall pay all taxes which may be assessed or levied on, or on account
of, the Rice Licensed Product
made, used, sold, leased, transferred, or disposed of hereunder and all taxes
(other than taxes  imposed
by the United States of America or the State of Texas or jurisdictions within
such State)  levied on
or on account of the amounts (including royalty payments) payable to, or for the
account of, Rice
University under this Agreement. These taxes are not deductible from any
payments due Rice.

     

    SECTION
12 Notices

     

    12.1 Any
notice or other communication of the Parties required or permitted to be given
or made under this
Agreement shall be in writing and be deemed effective upon receipt if delivered
personally, by reputable
courier, by facsimile with confirmation or electronic transmission with
confirmation, or by certified
or registered mail, postage prepaid, return receipt requested, addressed to the
other Party as follows
(or as changed by written notice pursuant to this Section 11):

     

    If for
Rice:

     

    Office of
Technology Transfer - MS 705

    Solterra Renewable Technologies, Inc.
14

    Rice
University

    6100 Main
Street

    P. 0. Box
1892

    Houston,
TX 77005-1892

    Attn:
Director, Office of Technology Transfer

    Phone:
(713) 348-6231

    Fax:
(713) 348-6289

    Email:
OTT-Director@rice.edu or techtran@rice.edu

     

    If for
Licensee:

    Attn:

    Phone:

    Fax:

     

    SECTION
13 Additional Provisions

     

    13.1
Legal Compliance. Licensee shall comply with all prevailing laws, rules and
regulations pertaining to the
development, testing, manufacture, marketing, sale, use, import or export of
Rice Intellectual Property
and Rice Licensed Product(s). Licensee shall comply with all United States laws
and regulations
controlling the export of certain commodities and technical data, including
without limitation
all Export Administration Regulations under the United States Department of
Commerce and
International Traffic in Arms Regulations under the Department of State. Among
other things, these
laws and regulations prohibit or require a license for the export of certain
types of commodities

    and
technical data to specified countries. Licensee hereby gives written assurance
that it will comply with, all
United States export control laws and regulations, that it bears sole
responsibility for any violation
of such laws and regulations by itself and that it will indemnify, defend, and
hold Rice harmless
(in accordance with Section 8.3) for the consequences of any such
violation.

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

    13.2
Power and Authority; Due Authorization; No Conflict; Enforceability; Binding
Effect. Each Party represents
and warrants to the other Party that (i) such Party has the power and authority
to execute, deliver
and perform its obligations under this Agreement, (ii) the execution, delivery
and performance of this
Agreement have been duly authorized by such Party and does not and shall not
conflict with any
agreement or instrument to which it is bound, (iii) this Agreement constitutes
the legal, valid and binding
obligation of such Party, enforceable against it in accordance with its terms,
and (iv) this Agreement,
and the interests, rights, duties and obligations hereunder, shall be binding
upon, and inure to
the benefit of, the Parties and their respective successors and permitted
assigns. 

     

    13.3
Entire Agreement; Further Assurances. This Agreement, including Exhibits A and B
attached hereto, constitutes
the entire agreement between the Parties, and supersedes any prior or
contemporaneous negotiations,
understandings and agreements, with respect to the subject matter hereof. Each
Party shall
execute and deliver such further documents and take such further actions as may
be required or reasonably
requested by the other Party to effectuate the purposes of this Agreement.

     

    13.4 No
Assignment; No Amendment; No Waiver. This Agreement (i) may not be assigned or
transferred, in whole
or in part, by operation of law or otherwise, by either Party without the prior
written consent Solterra Renewable Technologies, Inc.
15 of the
other Party, and (ii) may not be amended or modified, by course of conduct or
otherwise, except in
a writing duly executed by each of the Parties. Any waiver of any provision of
this Agreement
shall be in writing duly executed by the waiving Party. The failure or delay by
either Party to
seek redress for any breach or default under this Agreement, or to insist upon
the strict performance
of any provision of this Agreement, shall not constitute a waiver thereof or of
any other provision
of this Agreement, and such Party shall have all remedies provided herein and at
law and in equity
with respect to such act and any subsequent act constituting the
same.

     

    13.5
Force Majeure; Remedies Cumulative. In the event either Party's performance
under this Agreement is in any
way prevented or delayed as a result of causes or conditions (other than
financial incapacity to pay)
beyond such Party's reasonable control, such Party shall be excused temporarily
without liability
with respect to such performance or nonperformance; provided, however, that such
Party must
diligently pursue reasonable and appropriate actions to remedy such cause or
condition. The rights
and remedies provided in this Agreement are cumulative in nature and shall be in
addition to any such
other rights and remedies available at law and in equity.

     

    13.6
Resolution of Disputes.

     

    a) In the
event of any dispute or disagreement between the Parties either in interpreting
any provision
of this Agreement or about the performance of either Party and upon the written
request of either
Party, each of the Parties will appoint a designated representative to attempt
to resolve such dispute
or disagreement. The designated representatives will discuss the problem and
negotiate in good
faith in an effort to resolve the dispute without any formal proceedings. The
specific format of such
discussion shall be left to the discretion of the designated representatives. No
litigation for the resolution
of such dispute may be commenced until the designated representatives have met
and  either
Party has concluded in good faith that amicable resolution through continued
negotiation does not appear
likely (unless either Party fails or refuses to appoint a designated
representative and schedule
a meeting of such representatives within thirty (30) days after a request to do
so by the other Party).

     

    b) Each
party shall continue to perform its undisputed obligations under this Agreement
pending
final resolution of any dispute arising out of or relating to this Agreement;
provided, however,
that a party may suspend performance of its undisputed obligations during any
period in which the
other party fails or refuses to perform its undisputed obligations. Nothing in
this Section 13.6(b)
is intended to relieve Licensee from its obligation to make undisputed payments
pursuant to Sections
3 and 4 of this Agreement.

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     

    c) The
parties agree that all applicable statutes of limitation and time-based defenses
(such as estoppel
and laches) shall be tolled while the procedures set forth in Sections 13.6(a)
are pending. The
parties shall cooperate in taking any actions necessary to achieve this
result.

     

    13.7
Governing Law; Jurisdiction and Venue; Attorneys' Fees. This Agreement shall be
governed by, and construed
and enforced in accordance with, the laws of the United States and the laws of
the State of Texas
(without regard to the conflicts or choice of law principles thereof). Licensee
and Rice irrevocably
consent to the jurisdiction of the State of Texas, and agree that any court of
competent jurisdiction
sitting in Harris County, Texas, shall be an appropriate and convenient place of
venue to resolve
any dispute with respect to this Agreement. In the event either Party commences
any proceeding
against the other Party with respect to this Agreement, the prevailing Party
(as  determined by the
authority before whom such proceeding is commenced) shall be entitled to recover
reasonable Solterra Renewable Technologies, Inc.
16 attorneys'
fees and costs as may be incurred in connection therewith in addition to any
such other relief as
may be granted.

     

    13.8
Severability. In the event any provision of this Agreement is determined to be
invalid or unenforceable,
it is the desire and intention of the Parties that such invalidity or
unenforceability not invalidate
or render unenforceable the remainder of the Agreement and that such provision
be reformed
and construed in such a manner that it will, to the maximum extent practicable,
be deemed valid and
enforceable, and the rights and obligations of the Parties shall be construed
and enforced accordingly.

     

    13.9
Construction of Agreement. The Parties acknowledge and agree that both Parties
substantially  participated
in negotiating the provisions of this Agreement; therefore, both Parties agree
that this Agreement
shall not be construed more favorably toward one Party than the other
Party, regardless of which
Party primarily drafted the Agreement. The Section and other headings in this
Agreement are for
convenience of reference only and shall not affect, expressly or by implication,
the meaning or interpretation
of any of the provisions hereof. 

     

    13.10
Third Party Beneficiaries. Nothing in this Agreement, express or implied, is
intended to confer any benefits,
rights or remedies on any Entity, other than the Parties and their successors
and permitted assigns.

     

    13.11
Counterparts. This Agreement may be executed in multiple counterparts, each of
which shall be deemed an
original, but all of which taken together shall constitute one and the same
instrument. IN
WITNESS WHEREOF the Parties, intending to be legally bound, have caused this
Agreement to be executed
and delivered by their duly authorized representatives and effective as of the
Effective Date. 

     

    William
Marsh Rice University

    Date:

    Signature:

    Scott W.
Wise

    Vice
President for

    Investments
and Treasurer

    Solterra
Renewable Technologies, Inc.

    Date:
__________________________

    Signature:

    Stephen
B. Squires

    President
and CEO

    Reviewed
and recommended for signature:

    Signature:

    Nila D.
Bhakuni

    Director,

    Office of
Technology Transfer

    Solterra Renewable Technologies, Inc.
17

    Solterra
Renewable Technologies, Inc.

    1

     

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

     

    Exhibit
A

     

    Rice
Patents

    Rice

    Tech
ID

    Invention

    Disclosure

    Received

    Invention
Disclosure Title Patent Title Filing Date Serial Number Patent Type Country
Inventors Pa

    27014
8/31/06 Synthesis of Uniform Nanoparticle Shapes

    with High
Selectivity

    Synthesis
of Uniform Nanoparticle Shapes

    with High
Selectivity

    4/13/07
60/911,721 Provisional U.S. Michael Wong,

    Subashini
Asokan

    Synthesis
of Uniform Nanoparticle Shapes with high
Selectivity 4/11/08
PCT/US2008/060129 PCT PCT Michael Wong, Subashini
Asokan On
an “as is” basis as of the Effective Date

     

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

     

    Exhibit
B

     

    Company
Diligence Milestones

     

    Licensee
shall use best efforts to develop Rice Licensed Products and to introduce
Rice Licensed Products
into the commercial market; thereafter, Licensee shall make Rice Licensed
Products reasonably available
to the public. Specifically, Licensee shall fulfill the following
obligations:

     

    (a)
Licensee shall submit a business plan and/or a technology development to Rice
prior to
the Effective Date of this Agreement.

     

    (b)
Licensee shall acquire $5,000,000 (five million dollars) in initial funding by
August
31, 2008.

     

    (c)
Licensee shall file 3 patent applications related to thin-film quantum dot (QD)
solar
cell technology by December 31, 2008, and 3 additional patent applications
related to thin-film QD solar
cells or printed electronics in general by December 31, 2009.

     

    (d)
Licensee shall fund $80,000 (eighty thousand dollars) (in direct costs) of
sponsored
research with Professor Michael Wong by October 31, 2008.

     

    (e)
Following the successful completion of the sponsored research goals with
Michael
Wong, Licensee shall demonstrate the scalability of the quantum dot production
technology by May 31,
2009.

     

    (f)
Licensee shall establish a QD production pilot plant capable of producing 1000
g/week by
December 31, 2009.

     

    (g)
Licensee shall start up a full scale QD production plant by December 31,
2010.

     

    (h)
Licensee shall demonstrate a working model of a thin film quantum dot solar cell
product
using Rice Intellectual Property by July 31, 2009. This working model shall
achieve 6% efficiency
at a manufactured cell cost of <$1.50/Watt, and have a consumer warranty
regarding product lifetime
performance comparable to existing photovoltaics.

     

    (i)
Licensee shall have received an additional investment commitment of at least $15
(fifteen)
million dollars by January 31, 2010.

     

    (j)
Licensee shall bring a 10MW capacity solar cell pilot production line on-stream
by May
31, 2010.

     

    (k)
Licensee shall offer for sale solar cells incorporating a Rice Licensed Product
on or before
June 30, 2010.

     

    (l)
Licensee shall bring a 100 Megawatt volume production facility for solar cells
on stream by
December 31, 2011. 

     

    (m)
Licensee shall offer for sale quantum dots manufactured with Rice Patents for
electronic
or medical applications on or before December 31, 2009.

    

     

     

    14

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