Document:

EXHIBIT 10.2

EXHIBIT 10.2

WILSON HOLDINGS, INC.

REGISTRATION RIGHTS AGREEMENT

     This REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made as of December 19, 2005 by and among Wilson Holdings, Inc., a Nevada
corporation, (the “Company”), and each investor listed on Schedule 1 hereto (each such investor, individually, an “Investor” and, collectively, the “Investors”). 

     WHEREAS, the Company has agreed to issue and sell to the Investors, and the Investors have agreed to purchase from the Company, $10,000,000 aggregate principal amount of 5% Convertible Notes due
December 1, 2012 (the “Notes”) that are convertible into shares (the “Shares”) of the Company's common stock,
$0.001 par value per share (including any securities into which or for which such shares may be exchanged for, or converted into, pursuant to any stock dividend, stock split, stock combination, recapitalization, reclassification, reorganization
or other similar event, the “Common Stock”), at a conversion price and upon the terms and conditions set forth in the Securities Purchase Agreement (the “Securities Purchase Agreement”) dated as of the date hereof by and between the Company and the Investors, and the Notes issued as of the date hereof by the Company to the Investors; and 

     WHEREAS, the terms of the Securities Purchase Agreement provide that it shall be a condition precedent to the closing of the transactions thereunder, for the Company and the Investors to execute and
deliver this Agreement. 

     NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, the parties hereto hereby agree as follows: 

     1.     DEFINITIONS. The following terms shall have the meanings provided therefor below or elsewhere in this Agreement as described below: 

     “Affiliates” means any Person that, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is
under common control with, a Person, as such terms are used and construed under Rule 144. 

     “Board” means the Board of Directors of the Company.

     “Business Day” means any day except Saturday, Sunday and any day which shall be a federal legal holiday or a day on which banking
institutions in the State of New York are authorized or required by law or other governmental action to close. 

     “Closing Date” has the meaning set forth in the Securities Purchase Agreement.

     “Exchange Act” means the Securities Exchange Act of 1934, as amended, and all of the rules and regulations promulgated thereunder.

     “Person” (whether or not capitalized) means an individual, partnership, limited liability company, corporation, association, trust,
joint venture, unincorporated organization, and any government, governmental department or agency or political subdivision thereof. 

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

     “Registrable Shares” means, at the relevant time of reference thereto, the Shares and the Warrant Shares (including any shares of
capital stock that may be issued in respect thereof pursuant to a stock split, stock dividend, recombination, reclassification or the like), provided, however, that the term
“Registrable Shares” shall not include any of the Shares or Warrant Shares that are actually sold pursuant to a registration statement that has been declared effective under the Securities Act by the SEC. 

     “Registration Statement” means the Mandatory Registration Statement, any Demand Registration on Form S-3, and any additional
registration statements contemplated by this Agreement, including (in each case) the Prospectus, amendments and supplements to such registration statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto, and all
material incorporated by reference in such registration statement or Prospectus. 

     “Rule 144” means Rule 144 promulgated under the Securities Act and any successor or substitute rule, law or provision. 

     “SEC” means the Securities and Exchange Commission.

     “Securities Act” means the Securities Act of 1933, as amended, and all of the rules and regulations promulgated thereunder.

     “Warrants” means the warrants to purchase Common Stock issued by the Company to the Investors pursuant to the Securities Purchase
Agreement.

     “Warrant Shares” means the shares of Common Stock issued or issuable upon the exercise of the Warrants.

     2.     MANDATORY REGISTRATION. 

             (a)     As promptly as possible after the date hereof, and in any event prior to the date that is forty-five (45) days following the Closing Date (the “Mandatory Filing
Date”), the Company shall prepare and file with the SEC a Registration Statement on Form S-1, SB-2 or other appropriate form, for the purpose of 

registering under the Securities Act all of the  Registrable Shares for resale by, and for the account of, each Investor as an initial selling stockholder thereunder (the “Mandatory Registration Statement”).
The Mandatory Registration Statement shall permit the Investors to offer and sell, on a delayed or continuous basis pursuant to Rule 415 under the Securities Act, any or all of the Registrable Shares. The Company agrees to use its best efforts to
cause the Mandatory Registration Statement to be declared effective as soon as possible but in no event later than the date that is one hundred twenty (120) days following the Closing Date (the “Mandatory Effective
Date”) (including filing with the SEC, within three (3) Business Days of the date that the Company is notified (orally or in writing, whichever is earlier) by the SEC that the Mandatory Registration Statement will
not be “reviewed” or will not be subject to further review, a request for acceleration of effectiveness in accordance with Rule 461 promulgated under the Securities Act (an “Acceleration
Request”), which request shall request an effective date that is within three (3) Business Days of the date of such request). The Company shall notify each Investor in writing promptly (and in any event within one
(1) Business Day) after the Company's submission of an Acceleration Request to the SEC. The Company shall be required to keep the Mandatory Registration Statement continuously effective (including through the filing of any required post-effective
amendments) until the earlier to occur of (i) the date after which all of the Registrable Shares registered thereunder shall have been sold and (ii) the second (2nd) anniversary of the
later to occur of (a) the Closing Date and (b) the date on which each Warrant has been exercised in full and after which by the terms of such Warrant there are no additional Warrant Shares as to which the Warrant may become exercisable; provided,
that in either case such date shall be extended by the amount of time of any Suspension Period (as defined below). Thereafter, the Company shall be entitled to withdraw the Mandatory Registration Statement and, upon such withdrawal and notice to the
Investors, the Investors shall have no further right to offer or sell any of the Registrable Shares pursuant to the Mandatory Registration Statement (or any prospectus relating thereto).

         (b)     Notwithstanding anything in this Section 2 to the contrary, if the Company shall furnish to the Investors a certificate signed by the President or Chief Executive Officer of the Company stating
that the Board has made the good faith determination (i) that the continued use by the Investors of the Mandatory Registration Statement for purposes of effecting offers or sales of Registrable Shares pursuant hereto would require, under the
Securities Act and the rules and regulations promulgated thereunder, premature disclosure in the Mandatory Registration Statement (or the Prospectus relating thereto) of material, nonpublic information concerning the Company, its business or
prospects or any proposed material transaction involving the Company, (ii) that such premature disclosure would be materially adverse to the Company, its business or prospects or any such proposed material transaction or would not be in the best
interests of the Company and (iii) that it is therefore essential to suspend the use by the Investors, of the Mandatory Registration Statement (and the Prospectus relating thereto), then the right of the Investors to use the Mandatory Registration
Statement (and the Prospectus relating thereto) for purposes of effecting offers or sales of Registrable Shares pursuant thereto shall be suspended for a period (the “Suspension Period”) not greater than twenty (20) consecutive Business Days during any consecutive twelve (12) month period. During the Suspension Period, the Investors shall not offer or sell any Registrable Shares pursuant to or in reliance upon
the Mandatory Registration Statement (or the Prospectus relating thereto). The Company agrees that, as promptly as possible, but in no event later than one (1) Business Day, after the consummation, abandonment or public disclosure of
the event 

or transaction that caused the Company to suspend the use of the Mandatory Registration Statement (and the Prospectus relating thereto) pursuant to this Section 2(c), the Company will as promptly as possible lift any suspension, provide the Investors with revised
Prospectuses, if required, and will notify the Investors of their ability to effect offers or sales of Registrable Shares pursuant to or in reliance upon the Mandatory Registration Statement. 

         (c)     It shall be a condition precedent to the obligations of the Company to register Registrable Shares for the account of an Investor pursuant to this Section 2, Section 2A or Section 3 that such
Investor furnish to the Company such information regarding itself, the Registrable Securities held by it, and the method of disposition of such securities as shall be required to effect the registration of such Investor's Registrable Securities.

         (d)     Notwithstanding anything in this Agreement to the contrary, the Investors’ sole remedy at law (but not including any equitable remedies) for the failure of the Company to file the Mandatory
Registration Statement as promptly as possible after the date hereof, and in any event on or prior to the Mandatory Filing Date, or for the failure of the Company to make effective the Mandatory Registration Statement on or prior to the Mandatory
Effective Date, shall be the vesting of the Warrants as provided for therein.

2A.   MANDATORY S-3 REGISTRATION RIGHTS.

         (a)     If, at any time any Registrable Shares are not able to be resold pursuant to an effective Registration Statement, (i) Form S-3 (or other equivalent form) is then available for the registration of
such Registrable Shares and (ii) the Company shall receive from any Investor or Investors (including for this purpose its Affiliates) who holds (or who together hold) at least twenty-five percent (25%) of the then outstanding Registrable Shares a
written request or requests (a “Demand Notice”) that the Company effect a registration on Form S-3 (a “Demand Registration”), or any successor or substitute form, with
respect to all or a part of the Registrable Shares owned by such Investor(s), then the Company will promptly give written notice of the proposed registration and the Investor's or Investors' request therefor to all other Investors, and use best
efforts to effect such registration, as soon as practicable and in any event within thirty (30) days, of all or such portion of such Investors’ Registrable Shares as are specified in such request, together with all or such portion of the
Registrable Shares of any other Investor or Investors joining in such request as are specified in a written request given by such other Investor or Investors within ten (10) Business Days after receipt of such written notice from the Company;
provided, however, that the Company may temporarily suspended the use of such registration statement for the same reasons and on the same terms as described in Section 2(b) above. The Company shall not be required to effect more than three (3)
registrations pursuant to this Section 2A(a) during any consecutive twelve (12) month period. 

         (b)     It shall be a condition precedent to the obligations of the Company to register Registrable Shares for the account of an Investor pursuant to this Section 2 or Section 3 that such Investor furnish
to the Company such information regarding itself, the Registrable Securities held by it, and the method of disposition of such securities as shall be required to effect the registration of such Investor's Registrable Securities.

3.     “PIGGYBACK REGISTRATION”. 

       (a)     If at any time any Registrable Shares are not able to be resold pursuant to an effective Registration Statement, and the Company proposes to register any of its Common Stock under the Securities
Act, whether as a result of an offering for its own account or the account of others (but excluding any registrations to be effected on Forms S-4 or S-8 or other applicable successor Forms), the Company shall, each such time, give to the Investors
twenty (20) days' prior written notice of its intent to do so, and such notice shall describe the proposed registration and shall offer such Investors the opportunity to register such number of Registrable Shares as each such Investor may request.
Upon the written request of any Investor given to the Company within fifteen (15) days after the receipt of any such notice by the Company, the Company shall include in such Registration Statement all or part of the Registrable Shares of such
Investor, to the extent requested to be registered. 

         (b)     If a registration pursuant to Section 3 hereof involves an underwritten offering and the managing underwriter shall advise the Company in writing that, in its opinion, the number of shares of
Common Stock requested by the Investors to be included in such registration is likely to affect materially and adversely the success of the offering or the price that would be received for any shares of Common Stock offered in such offering, then,
notwithstanding anything in this Section 3 to the contrary, the Company shall only be required to include in such registration, to the extent of the number of shares of Common Stock which the Company is so advised can be sold in such offering, (i)
first, the number of shares of Common Stock requested to be included in such registration for the account of any stockholders of the Company (including the Investors), pro rata among such stockholders on the basis of the number of shares of Common
Stock that each of them has requested to be included in such registration, and (ii) second, any shares of Common Stock proposed to be included in such registration for the account of the Company. 

         (c)     In connection with any offering involving an underwriting of shares, the Company shall not be required under this Section 3 or otherwise to include the Registrable Shares of any Investor therein
unless such Investor accepts and agrees to the terms of the underwriting, which shall be reasonable and customary, as agreed upon between the Company and the underwriters selected by the Company. 

4.     OBLIGATIONS OF THE COMPANY. In connection with the Company's registration obligations hereunder, the Company shall, as expeditiously as
practicable: 

         (a)     (i) furnish to each Investor copies of all documents filed with the SEC prior to their being filed with the SEC, (ii) use commercially reasonable best efforts to cause its officers and directors,
counsel and certified public accountants to respond to such inquiries as shall be necessary, in the reasonable opinion of such Investor, to conduct a reasonable investigation within the meaning of the Securities Act, and (iii) notify the Investors
of any stop order issued or threatened by the SEC and use best efforts to prevent the entry of such stop order or to remove it if entered. 

         (b)     (i) prepare and file with the SEC such amendments and supplements, including post-effective amendments, to each Registration Statement and the Prospectus used in connection therewith as may be necessary to comply with the Securities Act and to keep the Registration Statement continuously
effective as required herein, and prepare and file with the SEC such additional Registration Statements as necessary to register for resale under the Securities Act all of the Registrable Shares (including naming any permitted transferees of
Registrable Shares as selling stockholders in such Registration Statement); (ii) cause any related Prospectus to be amended or supplemented by any required Prospectus supplement, and as so supplemented or amended to be filed pursuant to Rule 424;
(iii) respond as promptly as possible to any comments received from the SEC with respect to each Registration Statement or any amendment thereto and as promptly as possible provide the Investors true and complete copies of all correspondence from
and to the SEC relating to the Registration Statement (other than correspondence containing material nonpublic information); and (iv) comply with the provisions of the Securities Act and the Exchange Act with respect to the disposition of all
Registrable Shares covered by such Registration Statement as so amended or in such Prospectus as so supplemented. 

         (c)     Notify the Investors and Investors' Counsel as promptly as possible:

                  (i) when the SEC notifies the Company whether there will be a “review” of a Registration Statement and whenever the SEC comments in writing on such Registration Statement; and (ii) when a
Registration Statement, or any post-effective amendment or supplement thereto, has become effective, and after the effectiveness thereof: (A) of any request by the SEC or any other federal or state governmental authority for amendments or
supplements to the Registration Statement or Prospectus or for additional information; (B) of the issuance by the SEC or any state securities commission of any stop order suspending the effectiveness of the Registration Statement covering any or all
of the Registrable Shares or the initiation of any proceedings for that purpose; and (C) 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
Shares for sale in any jurisdiction, or the initiation or threatening of any proceeding for such purpose. Without limitation of any remedies to which the Investors may be entitled under this Agreement, if any of the events described in Section
4(c)(ii)(A), 4(c)(ii)(B), and 4(c)(ii)(C) occur, the Company shall use best efforts to respond to and correct the event. 

         (d)     Notify the Investors and their counsel as promptly as possible of the happening of any event as a result of which the Prospectus included in or relating to a Registration Statement contains an
untrue statement of a material fact or omits any fact necessary to make the statements therein not misleading; and, thereafter, the Company will as promptly as possible prepare (and, when completed, give notice to each Investor) a supplement or
amendment to such Prospectus so that, as thereafter delivered to the purchasers of such Registrable Shares, such Prospectus will not contain an untrue statement of a material fact or omit to state any fact necessary to make the statements therein
not misleading; provided that upon such notification by the Company, the Investors will not offer or sell Registrable Shares pursuant to such Prospectus until the Company has notified the Investors that it has prepared a supplement or amendment to
such Prospectus and delivered copies of such supplement or amendment to the Investors (it being understood and agreed by the Company that the foregoing proviso shall in no way diminish or otherwise impair the Company's obligation to as promptly
as

possible prepare a Prospectus amendment or supplement as above provided in this Section 4(d) and deliver copies of same as above provided in Section 4(h) hereof), and it being further understood that, in the case of the Mandatory
Registration Statement, any such period during which the Investors are restricted from offering or selling Registrable Shares shall constitute a Suspension Period. 

         (e)     Upon the occurrence of any event described in Section 4(d) hereof, as promptly as possible, prepare a supplement or amendment, including a post-effective amendment, to the Registration Statement
or a supplement to the related Prospectus or any document incorporated or deemed to be incorporated therein by reference, and file any other required document so that, as thereafter delivered, neither the Registration Statement nor such Prospectus
will contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they are made, not misleading. 

         (f)     Use best efforts to avoid the issuance of or, if issued, obtain the withdrawal of, (i) any order suspending the effectiveness of any Registration Statement or (ii) any suspension of the qualification (or exemption from qualification) of any of the Registrable Shares for sale in any jurisdiction,
as promptly as possible (it being understood that, in the case of the Mandatory Registration Statement, any period during which the effectiveness of the Mandatory Registration Statement or the qualification of any Registrable Shares is suspended
shall constitute a Suspension Period). 

         (g)     Furnish to the Investors and their counsel, without charge, at least one conformed copy of each Registration Statement and each amendment thereto, and all exhibits to the extent requested by such
Investor or their counsel (including those previously furnished or incorporated by reference) as promptly as possible after the filing of such documents with the SEC. 

         (h)     As promptly as possible furnish to each selling Investor, without charge, such number of copies of a Prospectus, including a preliminary Prospectus, in conformity with the requirements of the
Securities Act, and such other documents (including, without limitation, Prospectus amendments and supplements) as each such selling Investor may reasonably request in order to facilitate the disposition of the Registrable Shares covered by such
Prospectus and any amendment or supplement thereto. The Company hereby consents to the use of such Prospectus and each amendment or supplement thereto by each of the selling Investors in connection with the offering and sale of the Registrable
Shares covered by such Prospectus and any amendment or supplement thereto to the extent permitted by federal and state securities laws and regulations. 

         (i)     Use best efforts to register and qualify (or obtain an exemption from such registration and qualification) the Registrable Shares under such other securities or blue sky laws of the states of
residence of each Investor and such other jurisdictions as each Investor shall reasonably request, to keep such registration or qualification (or exemption therefrom)
effective during the periods each Registration Statement is effective, and do
any and all other acts or things which may be reasonably necessary or advisable
to enable each Investor to  

consummate the public sale or other disposition of Registrable Shares in such jurisdiction, provided that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business or to file a general
consent to service of process in any such states or jurisdictions where it is not then qualified or subject to process. 

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

         (k)     Cooperate with any reasonable due diligence investigation undertaken by the Investors, any managing underwriter participating in any disposition pursuant to a Registration Statement, Investors'
Counsel and any attorney, accountant or other agent retained by Investors or any managing underwriter, in connection with the sale of the Registrable Shares, including, without limitation, making available any documents and information; provided,
however, that the Company will not deliver or make available to any Investor material, nonpublic information unless such Investor specifically requests and consents in advance in writing to receive such material, nonpublic information and, if
requested by the Company, such Investor agrees in writing to treat such information as confidential.

         (l)     At the request of an Affiliate, the Company shall amend any Registration Statement to include such Affiliate as a selling stockholder in such Registration Statement.

         (m)     Comply with all applicable rules and regulations of the SEC in all material respects. 

5.     EXPENSES OF REGISTRATION. The Company shall pay for all expenses incurred in connection with a registration pursuant to this Agreement and
compliance with Section 4 of this Agreement, including without limitation (i) all registration, filing and qualification fees and expenses (including without limitation those related to filings with the SEC, The NASDAQ Stock Market, or any national
securities exchange upon which the Company’s securities are listed and in connection with applicable state securities or blue sky laws), (ii) all printing expenses, (iii) all messenger, telephone and delivery expenses incurred by the Company,
(iv) all fees and disbursements of counsel for the Company and Investors' Counsel, and (v) all fees and expenses of all other Persons retained by the Company in connection with the consummation of the transactions contemplated by this Agreement.

6.     DELAY OF REGISTRATION. Subject to Section 11(d) hereof, the Investors and the Company (other than with respect to Section 4(d) hereof)
shall not take any action to restrain, enjoin or otherwise materially delay any registration as the result of any controversy which might arise with respect to the interpretation or implementation of this Agreement. 

7.     INDEMNIFICATION. In the event that any Registrable Shares of the Investors are included in a Registration Statement pursuant to this
Agreement: 

         (a)     To the fullest extent permitted by law, the Company will indemnify and hold harmless each Investor and each officer, director, fiduciary, agent, investment advisor, employee, member (or other
equity holder), general partner and limited partner (and affiliates thereof) of such Investor, each broker, underwriter or other person acting on behalf of such Investor and each person, if any, who controls such Investor within the meaning of the
Securities Act, against any losses, claims, damages or liabilities, joint or several, (the “Losses”) to which they may become subject under the Securities Act or otherwise, insofar
as such Losses (or actions in respect thereof) arise out of or relate to any untrue or alleged untrue statement of any material fact contained in the Registration Statement, or arise out of or relate to the omission or alleged omission to state
therein a material fact required to be stated therein, or necessary to make the statements therein not misleading, or any violation by the Company of the Securities Act or state securities or blue sky laws applicable to the Company and leading to
action or inaction required of the Company in connection with such registration or qualification under such Securities Act or state securities or blue sky laws; and, subject to the provisions of Section 7(c) hereof, the Company will reimburse on
demand such Investor, such broker or other person acting on behalf of such Investor or such officer, director, fiduciary, employee, member (or other equity holder), general partner, limited partner, affiliate or controlling person for any legal or
other expenses reasonably incurred by any of them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the indemnity agreement contained in this Section 7(a) shall not apply to
amounts paid in settlement of any such Losses if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld), nor shall the Company be liable in any such case for any such loss, damage, liability
or action to the extent that it solely arises out of or is based upon an untrue statement of any material fact contained in the Registration Statement or omission to state therein a material fact required to be stated therein or necessary to make
the statements therein not misleading, in each case to the extent that such untrue statement or alleged untrue statement or omission or alleged omission was made in the Registration Statement, in reliance upon and in conformity with written
information furnished by such Investor expressly for use in connection with such Registration Statement. 

         (b)     To the fullest extent permitted by law, each Investor, severally (as to itself) and not jointly, will indemnify and hold harmless the Company, each of its directors, each of its officers who have
signed the Registration Statement, each person, if any, who controls the Company within the meaning of the Securities Act, and all other Investors against any Losses to which the Company or any such director, officer or controlling person or other
Investor may become subject to, under the Securities Act or otherwise, insofar as such Losses (or actions in respect thereto) solely arise out of or are based upon any untrue statement of any material fact contained in the Registration Statement, or
solely arise out of or relate to the omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent that such untrue statement or alleged untrue
statement or omission or alleged omission was made in the Registration Statement in reliance upon and in conformity with written information furnished by such Investor expressly for use in connection with such Registration Statement; and, subject to
the provisions of Section 7(d) hereof, such Investor will reimburse on demand any legal or other expenses reasonably incurred by the Company or any such director, officer, controlling person, or other Investor in 

connection with investigating or defending any such Losses, provided, however, that the maximum aggregate amount of liability of such Investor under this Section 7 shall be limited to the proceeds (net of underwriting discounts and commissions,
if any) actually received by such Investor from the sale of Registrable Shares covered by such Registration Statement; and provided, further, however, that the indemnity agreement contained in this Section 7(b) or 7(e)shall not apply to amounts paid
in settlement of any such Losses if such settlement is effected without the consent of such Investor against which the request for indemnity is being made (which consent shall not be unreasonably withheld). 

         (c)     As promptly as possible after receipt by an indemnified party under this Section 7 of notice of the threat, assertion or commencement of any action, such indemnified party will, if a claim in
respect thereof is to be made against any indemnifying party under this Section 7, notify the indemnifying party in writing of the commencement thereof and the indemnifying party shall have the right to participate in and, to the extent the
indemnifying party desires, jointly with any other indemnifying party similarly noticed, to assume at its expense the defense thereof with counsel mutually satisfactory to the parties; provided, however, that, the failure to notify an indemnifying
party promptly of the threat, assertion or commencement of any such action shall not relieve such indemnifying party of any liability to the indemnified party under this Section 7 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 proximately and materially adversely prejudiced the indemnifying party. 

         (d)     If any indemnified party shall have reasonably concluded that there may be one or more legal defenses available to such indemnified party which are different from or additional to those available
to the indemnifying party, or that such claim or litigation involves or could have an effect upon matters beyond the scope of the indemnity agreement provided in this Section 7, the indemnifying party shall not have the right to assume the defense
of such action on behalf of such indemnified party, and such indemnifying party shall reimburse such indemnified party and any person controlling such indemnified party for the fees and expenses of counsel retained by the indemnified party which are
reasonably related to the matters covered by the indemnity agreement provided in this Section 7. Subject to the foregoing, an indemnified party shall have the right to employ separate counsel in any such action and to participate in the defense
thereof but the fees and expenses of such counsel shall not be at the expense of the Company for that section or participations. 

         (e)    
If the indemnification provided for in this Section 7 from the indemnifying
party is applicable by its terms but unavailable to an indemnified party
hereunder in respect of any Losses, then the indemnifying party, in lieu of
indemnifying such indemnified party, shall, subject to the maximum aggregate
liability of any Investor as set forth in Section 7(b), contribute to the amount
paid or payable by such indemnified party as a result of such losses, claims,
damages, liabilities or expenses in such proportion as is appropriate to reflect
the relative fault of the indemnifying party and indemnified party in connection
with the actions which resulted in such losses, claims, damages, liabilities or
expenses, as well as any other relevant equitable considerations. The relative
faults 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 to state a material fact, has been 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. The amount paid or payable by a party as a result of the losses, claims, damages, liabilities and expenses referred to above shall be deemed to include, subject to the limitations set forth in Sections 7(a), 7(b) 7(c) and 7(d), any legal or
other fees, charges or expenses reasonably incurred by such party in connection with any investigation or proceeding. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any person. The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 7(e) were determined by pro rata allocation or by any other method of allocation which does not take account of
the equitable considerations referred to in the immediately preceding paragraph. 

         (f)     The indemnity and contribution agreements contained in this Section are in addition to any liability that any indemnifying party may have to any indemnified party. 

8.     REPORTS UNDER THE EXCHANGE ACT. With a view to making available to the Investors the benefits of Rule 144 and any other rule or regulation
of the SEC that may at any time permit the Investors to sell the Registrable Shares to the public without registration, the Company agrees to use best efforts to: (i) make and keep public information available, as those terms are understood and
defined in Rule 144, (ii) file with the SEC in a timely manner all reports and other documents required to be filed by an issuer of securities registered under the Securities Act or the Exchange Act; (iii) as long as any Investor owns any Shares or
Warrant Shares, to furnish in writing upon such Investor's request a written statement by the Company that it has complied with the reporting requirements of Rule 144 and of the Securities Act and the Exchange Act, and to furnish to such Investor a
copy of the most recent annual and quarterly reports of the Company, and such other reports and documents so filed by the Company as may be reasonably requested in availing such Investor of any rule or regulation of the SEC permitting the selling of
any such Shares without registration, and (iv) undertake any additional actions reasonably necessary to maintain the availability of a Registration Statement, including any successor or substitute forms, or the use of Rule 144. 

9.     TRANSFER OF REGISTRATION RIGHTS. Each Investor may assign or transfer any or all of its rights under this Agreement to any Person,
provided such assignee or transferee agrees in writing to be bound by the provisions hereof that apply to such assigning or transferring Investor. Upon any such, and each successive, assignment or transfer to any permitted assignee or transferee in
accordance with the terms of this Section 9, such permitted assignee or transferee shall be deemed to be an “Investor” for all purposes of this Agreement. 

10.     ENTIRE AGREEMENT. This Agreement constitutes and contains the entire agreement and understanding of the parties with respect to the
subject matter hereof, and it also supersedes any and all prior negotiations, correspondence, agreements or understandings with respect to the subject matter hereof. 

11.     MISCELLANEOUS. 

         (a)     This Agreement, and any right, term or provision contained herein, may not be amended, modified or terminated, and no right, term or provision may be waived, except with the written consent of (i) the holders of at least 50% of the then outstanding Registrable Shares and (ii) the Company; provided
that any amendment or modification that is materially and disproportionately adverse to any particular Investor (as compared to all Investors as a group) shall require the consent of such Investor. 

         (b)     This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York. This Agreement shall be binding upon the parties hereto and their respective
heirs, personal representatives, successors and permitted assigns and transferees, provided that the terms and conditions of Section 9 hereof are satisfied. Notwithstanding anything in this Agreement to the contrary, if at any time any Investor
(including any successors or assigned) shall cease to own any Registrable Shares, all of such Investor's rights under this Agreement shall immediately terminate. 

         (c)     Any notices to be given pursuant to this Agreement shall be in writing and shall be given by certified or registered mail, return receipt request. Notices shall be deemed given when personally
delivered or when mailed to the addresses of the respective parties as set forth on Exhibit A or Schedule 1 hereto, as applicable, or to such changed address of which any party may notify the others pursuant hereto, except that a notice of change of
address shall be deemed given when received. An electronic communication (“Electronic Notice”) shall be deemed written notice for purposes of this Section 11(c) if sent with return
receipt requested to the electronic mail address specified by the receiving party on Exhibit A or Schedule 1 hereto, as applicable. Electronic Notice shall be deemed received at the time the party sending Electronic Notice receives verification of
receipt by the receiving party.

         (d)     The parties acknowledge and agree that in the event of any breach of this Agreement, remedies at law will be inadequate, and each of the parties hereto shall be entitled to specific performance of
the obligations of the other parties hereto and to such appropriate injunctive relief as may be granted by a court of competent jurisdiction. All remedies, either under this Agreement or by law or otherwise afforded to any of the parties, shall be
cumulative and not alternative. 

         (e)     This Agreement may be executed in a number of counterparts. All such counterparts together shall constitute one Agreement, and shall be binding on all the parties hereto notwithstanding that all
such parties have not signed the same counterpart. The parties hereto confirm that any facsimile copy of another party's executed counterpart of this Agreement (or its signature page thereof) will be deemed to be an executed original thereof.

         (f)     Except as contemplated in Section 9 hereof, this Agreement is intended solely for the benefit of the parties hereto and is not intended to confer any benefits upon, or create any rights in favor
of, any Person (including, without limitation, any stockholder or debt holder of the Company) other than the parties hereto or their permitted transferees or assignees.

         (g)     If any provision of this Agreement is invalid, illegal or unenforceable, such provision shall be ineffective to the extent, but only to the extent of, such invalidity, illegality or
unenforceability, without invalidating the remainder of such provision or the remaining provisions of this Agreement, unless such a construction would be unreasonable.

                          (h)     This Agreement shall be binding upon, and inure to the benefit of, the parties hereto and their permitted successors and assigns. 

[Signature Pages Follow]

 

 

 

 

 

 

 

 

 

 

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

	
WILSON HOLDINGS, INC. 
 
	
 
 
	
By: 
 	

/s/ Clark Wilson                                
 

 
	
 
 	
Clark Wilson 
 
	
 
 	
President and Chief Operating Officer 
 

 

 

 

 

 

 

 

 

 

 

 

[SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

	

PURCHASERS: 
 
	
 
 
	
LC Capital Master Fund, Ltd. 
 
	
 
 
	
By:	
/s/ Richard F. Conway	
 
	
Name:	
Richard F. Conway	
 
	
Title:	
Director	
 
	
 
	
 
 
	
Grandview, LLC 
 
	
 
 
	
By:     Millennium Partners, L.P. 
 
	
By:     Millennium Management, L.L.C. 
 
	
 
 
	
By:	
/s/ Terry Feeney	
 
	
Name:	
Terry Feeney	
 
	
Title:	
Chief Operating Officer	
 
	
 
 
	
Tejas Securities Group, Inc. 401K Plan and Trust FBO

John J. Gorman, John J. Gorman Trustee 
 
	
 
 
	
By:	
/s/ John J. Gorman	
 
	
Name:	
John J. Gorman	
 
	
Title:	
Trustee	
 
	
 
 
	
U.S.A Fund, LLLP 
 
	
 
 
	
By:	
/s/ Marc P. Blum	
 
	
Name:	
Marc P. Blum	
 
	
Title:	
CEO	
 
	
 
 
	
Dove Interests LLC 
 
	
 
 
	
By:	
/s/ Jared E. Abbruzzese	
 
	
Name:	
Jared E. Abbruzzese	
 
	
Title:	
An Authorized Signatory	
 
	
 
 
	
MILFAM I, L.P. 
 
	
 
 
	
By:	
/s/ Lloyd I. Miller 
 	
 
	
Name:	
Lloyd I. Miller
 	
 
	
Title:	
General Partner	
 
	
 
 
	
/s/ John D. Ramming                        
 
 
 	
 
	
John D. Ramming                               
 	
 
	
 	
 
	
/s/ Gerald Lindenmuth                       
 	
 
	
Gerald Lindenmuth                            

 
 
 	
 
	
 	
 
	
/s/ Justin Lynch                                  
 	
 
	
Justin Lynch                            
 	
 

 

[SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

Exhibit A

All correspondence to the Company shall be addressed as follows:

Wilson Holdings, Inc.

2700 Via Fortuna, Suite 400

Austin, Texas 78746

Attention: Chief Financial Officer

Facsimile: (512)

dallen@wilsonfamilycommunities.com.

with a copy (which shall not constitute notice) to:

Andrews Kurth LLP 

111 Congress Avenue, Suite 1700

Austin, Texas 78701

Attention: Carmelo Gordian

Facsimile: (512) 320-9292

All correspondence to the Investors shall be addressed as set forth in Schedule 1 belowEXHIBIT 10.3

EXHIBIT 10.3

Form of Warrant

NEITHER THIS WARRANT NOR THE SHARES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS AND NEITHER THIS WARRANT NOR THE SHARES ISSUABLE
UPON EXERCISE OF THIS WARRANT MAY BE SOLD OR TRANSFERRED UNLESS THE REGISTRATION PROVISIONS OF THE SAID ACT AND APPLICABLE STATE SECURITIES LAWS HAVE BEEN COMPLIED WITH OR UNLESS COMPLIANCE WITH SUCH PROVISIONS IS NOT REQUIRED.

December 19, 2005

WILSON HOLDINGS, INC

COMMON STOCK PURCHASE WARRANT

Void after December 19, 2015
     This Warrant (the “Warrant”) entitles [                        ] (including any successors or assigns, the “Holder”), for value received, to purchase from Wilson Holdings, Inc., a Nevada corporation, at any time and from time to time, subject to the terms and conditions set forth herein, during the period
starting from 5:00 a.m. on the Initial Exercise Date (as defined in Section 1 below) to 5:00 p.m., Eastern time, on the Expiration Date (as defined in Section 1 below) at which time this Warrant shall expire and become void, all or any portion of
the vested Warrant Shares at the Exercise Price (as defined in Section 1 below). This Warrant also is subject to the following terms and conditions:

     1. Definitions. As used in this Warrant, the following terms shall have the respective
meanings set forth below or elsewhere in this Warrant as referred to below:

     “Affiliate” means any Person that, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is
under common control with, a Person, as such terms are used and construed under Rule 144, and any Person (or group of Persons) who share(s) voting or investment power or is (are) deemed a beneficial owner(s), as such terms are used and construed
under Rule 13d-3 of the rules and regulations promulgated under the Securities Exchange Act of 1934, as amended, including, without limitation, any Person that serves as a general partner and/or investment adviser or in a similar capacity of a
Person.

     “Common Stock” means the common stock, $0.001 par value per share, of the Company (including any securities into which or for
which such shares may be exchanged for, or converted into, pursuant to any stock dividend, stock split, stock combination, recapitalization, reclassification, reorganization or other similar event).

      “Company” means Wilson Holdings, Inc., a Nevada corporation.

      “Exercise Price” means $2.00 per share of Common Stock, as applicable and as adjusted from time to time pursuant to the terms
of this Warrant.

     “Expiration Date” means December 19, 2015.

     “Fair Market Value” shall mean (i) if the Common Stock is traded on Nasdaq, then the last reported sale price per share of Common
Stock on The NASDAQ Stock Market or any national securities exchange in which such Common Stock is quoted or listed, as the case may be, on the date immediately preceding each date the Warrant is exercised or, if no such sale price is reported on
such date, such price on the next preceding business day in which such price was reported, (ii) if the Common Stock is traded over-the-counter with an average weekly trading volume as reported on the Pink Sheets of not less than 250,000 shares for
each of the four full trading weeks ending on the trading day immediately preceding the date the Warrant is ex with an average weekly trading volume as reported on the Pink Sheets of not less than 250,000 shares for each of the four full trading
weeks ending on the trading day immediately preceding the date the Warrant is exercised, then the average of the closing bid and asked prices over the five (5) trading days ended on the trading day immediately preceding each date the Warrant is
exercised or (iii) if such Common Stock is not traded, quoted or listed on The NASDAQ Stock Market or any national securities exchange or the over-the-counter market, then the fair market value of a share of Common Stock, as determined in good faith
by the Board of Directors of the Company.

     “Holder” has the meaning set forth in the preamble of this Warrant.

     “Initial Exercise Date” means the date on which this Warrant first vests in accordance with Section 2.2 hereof.

     “Notes” means the 5% Convertible Notes due December 1, 2012 issued pursuant to the Securities Purchase Agreement.

     “Person” (whether or not capitalized) means an individual, entity, partnership, limited liability company, corporation,
association, trust, joint venture, unincorporated organization, and any government, governmental department or agency or political subdivision thereof.

     “SEC” means the Securities and Exchange Commission

     “Shares” means the shares of Common Stock issuable upon conversion of the Notes issued pursuant to the Securities Purchase
Agreement.

     “Securities Purchase Agreement” means that certain Securities Purchase Agreement dated December 19, 2005, by and between the
Company and the initial Holders.

     “Vesting Date” has the meaning set forth in Section 2.2 hereof.

2

     “Warrant Shares” means an aggregate of [ ] shares of Common Stock, which
amount shall be adjusted to give effect to all adjustments thereto provided for herein, including, without limitation, those set forth in Section 4 hereof.

2.     Exercise of Warrant.

        2.1     Method of Exercise; Payment.

                 (a)     Cash Exercise.  Subject to all of the terms and conditions hereof (including the vesting provisions set forth below), this
Warrant may be exercised, in whole or in part, with respect to any then vested Warrant Shares, at any time and from time to time during the period commencing on the Initial Exercise Date and ending at 5:00 p.m., Eastern Time, on the Expiration Date,
by surrender of this Warrant to the Company at its principal office, accompanied by a subscription substantially in the form attached hereto, executed by the  Holder and accompanied by (a) wire transfer of immediately available funds or (b)
certified or official bank check payable to the order of the Company, in each case in the amount obtained by multiplying (i) the number of Warrant Shares for which the Warrant is being exercised, as designated in such subscription, by (ii) the
Exercise Price. Thereupon, the Holder shall be entitled to receive the number of duly authorized, validly issued, fully paid and nonassessable Warrant Shares determined as provided for herein.

                 (b)     Cashless Exercise/Conversion. Subject to all of the terms and conditions hereof (including the vesting provisions set forth
below), the Holder shall have the right to convert this Warrant, in whole or in part, with respect to any then vested Warrant Shares, at any time and from time to time during the period commencing on the Initial Exercise Date and ending at 5:00
p.m., Eastern Time, on the Expiration Date, by surrender of this Warrant to the Company at its principal office, accompanied by a conversion notice substantially in the form attached hereto, executed by the Holder. Thereupon, the Holder shall be
entitled to receive a number of duly authorized, validly issued, fully paid and nonassessable Warrant Shares equal to:

                             (i)     (A)     (x) the number of Warrant Shares (subject to adjustment as provided in Section 3 hereof) which such Holder would be entitled to receive upon exercise of such Warrant for the number of Warrant
Shares designated in such conversion notice (without giving effect to any adjustment thereof pursuant to this subsection), multiplied by (y) the Fair Market Value of each such Warrant Share
so receivable upon such exercise

 
  minus

                                     (B)     (x) the number of Warrant Shares (subject to adjustment as provided in Section 3 hereof) which such Holder would be entitled to receive upon exercise of such Warrant for the number of Warrant
Shares designated in such conversion notice (without giving effect to any adjustment thereof pursuant to this subsection), multiplied by (y) the Exercise Price

3

 
  divided by

 

                         (ii)     the Fair Market Value per Warrant Share.

             2.2     Vesting. This Warrant shall become exercisable with respect to Warrant Shares
(“vest”) as follows: (i) with respect to 25% of the Warrant Shares, on February 2, 2006, if a registration statement covering the resale of the Shares shall not have been filed with the SEC by such date, (ii) with respect to an additional
25% of the Warrant Shares, on April 18, 2006, if a registration statement covering the resale of the Shares shall not have been declared effective by the SEC by such date and remained continuously effective through such date, (iii) with respect to
an additional 25% of the Warrant Shares on May 18, 2006, if a registration statement covering the resale of the Shares shall not have been declared effective by the SEC by such date and
remained continuously effective through such date, and (iv) with respect to the remaining 25% of the Warrant Shares, on June 17, 2006, if a registration statement covering the resale of the Shares shall not have been declared effective by the SEC by
such date and remained continuously effective through such date; provided, however, that notwithstanding the foregoing, the Warrant
Shares shall vest in accordance with clauses (i)-(iv) above only to the extent that, after giving effect to such vesting, such vesting will not result in the Holder (together with its Affiliates) owning, holding or beneficially owning more than
9.99% of the Common Stock (the “Ownership Limit”), and at any time, and from time to time, if the Holder (together with its Affiliates) owns, holds or beneficially owns a
percentage less than the Ownership Limit, then this Warrant shall thereafter vest or continue to vest, first with respect to any Warrant Shares that would have vested in accordance with clauses (i)-(iv) above but for the Ownership Limit and second,
otherwise in accordance with clauses (i)-(iv) above, but in each case, again, only to the extent that, after giving effect to such vesting, such vesting will not result in the Holder (together with its Affiliates) owning, holding or beneficially
owning more than the Ownership Limit; provided further that if this Warrant does not vest and become exercisable for any Warrant Shares in accordance with this paragraph, then this Warrant
shall become null and void.

             2.3     Delivery of Stock Certificates on Exercise. As soon as practicable after the exercise of
this Warrant, and in any event within three (3) business days thereafter, the Company, at its expense, and in accordance with applicable securities laws, will cause to be issued in the name of and delivered to the Holder, or as the Holder may direct
(subject in all cases, to the provisions of Section 8 hereof), a certificate or certificates for the number of Warrant Shares purchased by the Holder on such exercise, plus, in lieu of any
fractional share to which the Holder would otherwise be entitled, cash equal to such fraction multiplied by the Fair Market Value.

             2.4     Shares To Be Fully Paid and Nonassessable.  All Warrant Shares issued upon the exercise of
this Warrant shall be validly issued, fully paid and nonassessable, free of all liens, taxes, charges and other encumbrances or restrictions on sale (other than those set forth herein).

4

             2.5     Fractional Shares.  No fractional shares of Common Stock or scrip representing fractional
shares of Common Stock shall be issued upon the exercise of this Warrant. With respect to any fraction of a share of Common Stock called for upon any exercise hereof, the Company shall make a cash payment to the Holder as set forth in Section 2.3
hereof.

             2.6     Issuance of New Warrants; Company Acknowledgment. Upon any partial exercise of this
Warrant, the Company, at its expense, will forthwith and, in any event within three (3) business days, issue and deliver to the Holder a new warrant or warrants of like tenor, registered in the name of the Holder, exercisable, in the aggregate, for
the balance of the Warrant Shares.  Moreover, the Company shall, at the time of any exercise of this Warrant, upon the request of the Holder, acknowledge in writing its continuing obligation to afford to the Holder any rights to which the Holder
shall continue to be entitled after such exercise in accordance with the provisions of this Warrant; provided, however, that if the
Holder shall fail to make any such request, such failure shall not affect the continuing obligation of the Company to afford to the Holder any such rights.

             2.7     Payment of Taxes and Expenses.  The Company shall pay any recording, filing, stamp or
similar tax which may be payable in respect of any transfer involved in the issuance of, and the preparation and delivery of certificates (if applicable) representing, (i) any Warrant Shares purchased upon exercise of this Warrant and/or (ii) new or
replacement warrants in the Holder’s name or the name of any transferee of all or any portion of this Warrant.

     3.     Payment of Exercise Price. The Exercise Price for the Warrant Shares being purchased may be
paid (i) in cash, by certified check or by wire transfer to an account designated in writing by the Company, (ii) by the Holder surrendering a number of Warrant Shares having a Fair Market Value on the date of exercise equal to, greater than (but
only if by a fractional share) or less than the required aggregate Exercise Price, in which case the Holder shall receive the number of Warrant Shares to which it would otherwise be entitled upon such exercise, less the surrendered shares, or (iii)
any combination of the methods described in the foregoing clauses (i) and (ii).

     4.     Adjustment of Exercise Price.  The Exercise Price shall be subject to adjustment from time
to time upon the happening of certain events as follows:

             4.1.     
Subdivision or Combination of Stock. 
If at any time or from time to time after the date hereof, the Company shall
subdivide (by way of stock dividend, stock split or otherwise) its outstanding
shares of Common Stock, the Exercise Price in effect immediately prior to such
subdivision shall be reduced proportionately and the number of Warrant Shares
(calculated to the nearest whole share) shall be increased proportionately such
that the number of Warrant Shares after such subdivision shall constitute the
same percentage of Common Stock (calculated on a fully diluted basis) as the
Warrant shares had represented immediately preceding the subdivision, and
conversely, in the event the outstanding shares of Common Stock shall be
combined (whether by stock combination, reverse stock split or otherwise) into a
smaller number of  

5

shares, the Exercise Price in effect immediately prior to such combination shall be increased proportionately and the number of Warrant Shares (calculated to the nearest whole share) shall be reduced proportionately such that the number of Warrant
Shares after such combination shall constitute the same percentage of Common Stock (calculated on a fully diluted basis) as the Warrant shares had represented immediately preceding the combination. The Exercise Price and the number of Warrant
Shares, as so adjusted, shall be readjusted in the same manner upon the happening of any successive event or events described in this Section 4.1.

             4.2     Adjustment for Stock Dividends. If at any time after the date hereof, the Company shall
declare a dividend or make any other distribution upon any class or series of stock of the Company payable in shares of Common Stock or securities convertible into shares of Common Stock, the Exercise Price and the number of Warrant Shares to be
obtained upon exercise of this Warrant shall be adjusted proportionately to reflect the issuance of any shares of Common Stock or convertible securities, as the case may be, issuable in payment of such dividend or distribution. The Exercise Price
and the number of Warrant Shares, as so adjusted, shall be readjusted in the same manner upon the happening of any successive event or events described in this Section 4.2.

             4.3     Adjustments for Reclassifications.  If the Common Stock issuable upon the conversion of
this Warrant shall be changed into the same or a different number of shares of any class(es) or series of stock, whether by reclassification or otherwise (other than an adjustment under Sections 4.1 and 4.2 or a merger, consolidation, or sale of
assets provided for under Section 4.4), then and in each such event, the Holder hereof shall have the right thereafter to convert each Warrant Share into the kind and amount of shares of stock and other securities and property receivable upon such
reclassification, or other change by holders of the number of shares of Common Stock into which such Warrant Shares would have been convertible immediately prior to such reclassification or change, all subject to successive adjustments thereafter
from time to time pursuant to and in accordance with, the provisions of this Section 4.

             4.4     Adjustments for Merger or Consolidation. 
In the event that, at any time or from time to time after the date hereof, the
Company shall (a) effect a reorganization, (b) consolidate with or merge into
any other Person, (c) sell or transfer all or substantially all of its
properties or assets, or (d) sell or transfer more than 50% of the voting
capital stock of the Company (whether issued and outstanding, newly issued, from
treasury, or any combination thereof) to any other person under any plan or
arrangement contemplating the consolidation or merger, sale or transfer, or
dissolution of the Company, then, in each such case, the Holder, upon the
exercise of this Warrant as provided in Section 2.1 hereof at any time or from
time to time after the consummation of such reorganization, consolidation,
merger or sale or the effective date of such dissolution, as the case may be,
shall receive, in lieu of the Warrant Shares issuable on such exercise
immediately prior to such consummation or such effective date, as the case may
be, the stock and property (including cash) to which the Holder would have been
entitled upon the consummation of such consolidation or merger, or sale or
transfer, or in connection with such dissolution, as the case may be, if the
Holder had so exercised this Warrant immediately prior thereto (assuming the
payment by the Holder of the Exercise Price therefor as required  

6

hereby in a form permitted hereby, which payment shall be included in the assets of the Company for the purposes of determining the amount available for distribution), all subject to successive adjustments
thereafter from time to time pursuant to, and in accordance with, the provisions of this Section 4.

             4.5     Continuation of Terms.  Upon any reorganization, consolidation, merger or transfer (and
any dissolution following any such transfer) referred to in this Section 4, this Warrant shall continue in full force and effect and the terms hereof shall be applicable to the shares of Common Stock and other securities and property receivable upon
the exercise of this Warrant after the consummation of such reorganization, consolidation or merger or the effective date of dissolution following any such transfer, as the case may be, and shall be binding upon the issuer of any such Common Stock
or other securities, including, in the case of any such transfer, the Person acquiring all or substantially all of the properties or assets or more than 50% of the voting capital stock of the Company (whether issued and outstanding, newly issued or
from treasury or any combination thereof), whether or not such Person shall have expressly assumed the terms of this Warrant.

             4.6     Certificate as to Adjustments.  Upon the occurrence of each adjustment or readjustment of
the Exercise Price and number of Warrant Shares pursuant to this Section 4, this Warrant shall, without any action on the part of the Holder, be adjusted in accordance with this Section 4, and the Company, at its expense, promptly shall compute such
adjustment or readjustment in accordance with the terms hereof and prepare and furnish to the Holder a certificate setting forth such adjustment or readjustment, showing in detail the facts upon which such adjustment or readjustment is based.  The
Company will forthwith send a copy of each such certificate to the Holder in accordance with Section 10.4 below.

     5.     Registration Rights.  The Warrant Shares shall be entitled to registration rights and all
other rights as applicable to such shares in accordance with that certain Registration Rights Agreement, dated as of the date hereof, as amended, by and among the Company and the Investors named therein.

     6.     Notices of Record Date. Upon (a) any establishment by the Company of a record date of the
holders of any class of securities for the purpose of determining the holders thereof who are entitled to receive any dividend or other distribution, or right or option to acquire securities of the Company, or any other right, or (b) any capital
reorganization, reclassification, recapitalization, merger or consolidation of the Company with or into any other corporation, any transfer of all or substantially all the assets of the Company, or any voluntary or involuntary dissolution,
liquidation or winding up of the Company, or the sale, in a single transaction, of a majority of the Company’s voting stock (whether newly issued, or from treasury, or previously issued and then outstanding, or any combination thereof), the
Company shall mail to the Holder at least ten (10) business days, or such longer period as may be required by law, prior to the record date specified therein, a notice specifying (i)
the date established as the record date for the purpose of such dividend,
distribution, option or right and a description of such dividend, distribution,
option or right, (ii) the date on which any such reorganization,  

7

reclassification, transfer, consolidation, merger, dissolution, liquidation or winding up, or sale is expected to become effective and (iii) the date, if any, fixed as to when the holders of record of Common Stock shall be entitled
to exchange their shares of Common Stock for securities or other property deliverable upon such reorganization, reclassification, transfer, consolidation, merger, dissolution, liquidation or winding up.

     7.     Exchange of Warrant. Subject to the provisions of Section 8 hereof (if and to the extent
applicable), this Warrant shall be exchangeable, upon the surrender hereof by the Holder at the principal office of the Company, for new warrants of like tenor, each registered in the name of the Holder or in the name of such other persons as the
Holder may direct (upon payment by the Holder of any applicable transfer taxes). Each of such new warrants shall be exercisable for such number of Warrant Shares as the Holder shall direct, provided that all of such new warrants shall represent, in the aggregate, the right to purchase the same number of Warrant Shares and cash, securities or other property, if any, which may be purchased by the Holder upon exercise of this Warrant
at the time of its surrender.

     8.     Transfer Provisions, etc.

             8.1     Legends.  Each certificate representing any Warrant Shares issued upon exercise of this
Warrant, and of any shares of Common Stock into which such Warrant Shares may be converted, shall bear the following legend:

 “THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID ACT OR
PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, REGISTRATION UNDER SAID ACT.”

             8.2     Mechanics of Transfer.

                     (a)     Any transfer of all or any portion of this Warrant (and the Warrant Shares), or of any interest herein or therein, that is otherwise in compliance with applicable law shall be effected by
surrendering this Warrant to the Company at its principal office, together with a duly executed form of assignment, in the form attached hereto. In the event of any such transfer of this Warrant, the Company shall issue a new warrant or warrants of
like tenor to the transferee(s), representing, in the aggregate, the right to purchase the same number of Warrant Shares and cash, securities or other property, if any, which may be purchased by the Holder upon exercise of this Warrant at the time
of its surrender. 

                     (b)     In the event of any transfer of all or any portion of this Warrant in accordance with Section 8.2(a) above, the Company shall issue (i)
a new warrant of like tenor to the transferee, representing the right to
purchase the number of Warrant Shares, and cash, securities or other property,
if any, which were purchasable by the Holder of the transferred portion of this
Warrant, and (ii) a new warrant of like tenor to the  

8

Holder, representing the right to purchase the number of Warrant Shares, and cash, securities or other property, if any, purchasable by the Holder of the un-transferred portion of this Warrant.  Until this Warrant or
any portion thereof is transferred on the books of the Company, the Company may treat the Holder as the absolute holder of this Warrant and all right, title and interest therein for all purposes, notwithstanding any notice to the
contrary.

             8.3     No Restrictions on Transfer. Subject to compliance with applicable securities laws, this
Warrant and any portion hereof, the Warrant Shares and the rights hereunder may be transferred by the Holder in its sole discretion at any time and to any Person or Persons, including without limitation Affiliates and affiliated groups of such
Holder, without the consent of the Company.

             8.4     Warrant Register. The Company shall keep at its principal office a register for the
registration, and registration of transfers, of the Warrants. The name and address of each Holder of one or more of the Warrants, each transfer thereof and the name and address of each transferee of one or more of the Warrants shall be registered in
such register.  The Company shall give to any Holder of a Warrant promptly upon request therefor, a complete and correct copy of the names and addresses of all registered Holders of the Warrants.

     9.     Lost, Stolen or Destroyed Warrant.  Upon receipt by the Company of evidence satisfactory to
it of loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of a customary affidavit of the Holder and indemnity agreement, or, in the case of mutilation, upon surrender of this Warrant,
the Company at its expense will execute and deliver, or will instruct its transfer agent to execute and deliver, a new Warrant of like tenor and date, and any such lost, stolen or destroyed Warrant thereupon shall become void.

     10.     General.

             10.1     Authorized Shares, Reservation of Shares for Issuance.  At all times while this Warrant
is outstanding, the Company shall maintain its corporate authority to issue, and shall have authorized and reserved for issuance upon exercise of this Warrant, such number of shares of Common Stock, any other capital stock or other securities as
shall be sufficient to perform its obligations under this Warrant (after giving effect to any and all adjustments to the number and kind of Warrant Shares purchasable upon exercise of this Warrant).

             10.2     No Impairment.
The Company will not, by amendment of its Certificate of Incorporation or
through any reorganization, transfer of assets, consolidation, merger,
dissolution, issuance or sale of securities, sale or other transfer of any of
its assets or properties, or any other voluntary action, avoid or seek to avoid
the observance or performance of any of the terms of this Warrant, but will at
all times in good faith carry out all such terms and take such action as may be
necessary or appropriate in order to protect the rights of the Holder hereunder
against impairment. Without limiting the generality of the foregoing, the   

9

Company (a) will not  increase the par value of any shares of Common Stock  receivable upon the exercise of this Warrant above the amount payable therefor on such exercise, and (b) will take all action that may be necessary or appropriate in order that the Company may validly and
legally issue fully paid and nonassessable shares of Common Stock upon the exercise of this Warrant.

             10.3     No Rights as Stockholder.  The Holder shall not be entitled to vote or to receive
dividends or to be deemed the holder of Common Stock that may at any time be issuable upon exercise of this Warrant for any purpose whatsoever, nor shall anything contained herein be construed to confer upon the Holder any of the rights of a
stockholder of the Company or any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to give or withhold consent to any corporate action (whether upon any recapitalization, issuance or
reclassification of stock, change of par value or change of stock to no par value, consolidation, merger or conveyance or otherwise), or to receive notice of meetings (except to the extent otherwise provided in this Warrant), or to receive dividends
or subscription rights, until the Holder shall have exercised this Warrant and been issued Warrant Shares in accordance with the provisions hereof.

             10.4     Notices.  All notices, requests, consents and other communications hereunder shall be in
writing and shall be deemed to have been given if personally delivered or delivered by overnight courier or mailed by first-class registered or certified mail, postage prepaid, return receipt requested, or sent by fax machine, addressed as
follows:

                          (a)     if to the Company at:

Wilson Holdings, Inc.

2700 Via Fortuna, Suite 400
Austin, Texas 78746

Attention: Chief Financial Officer

Fax: (512) 

                         with copies to:

Andrews Kurth LLP

111 Congress Avenue, Suite 1700
Austin, Texas 78701

Attention: Carmelo Gordian
Fax: (512) 320-9292

                                         (b)      if to the Holder, at the Holder’s address appearing in the books maintained by the Company.

     11     Amendment and Waiver.
No failure or delay of the Holder in exercising any power or right hereunder
shall operate as a waiver thereof, nor shall any single or partial exercise of
any such right or power, or any abandonment or discontinuance of steps to
enforce such a right or power, preclude any other or further exercise thereof or
the exercise of any other right or power. The rights and remedies of the Holder
are  

10

  cumulative and not  exclusive of any rights or remedies which it would otherwise have. The terms of this Warrant may be amended, modified or waived only with the written consent of the Company and the Holder.

     12.     Governing Law.  This Warrant shall be governed by and construed in accordance with the
laws of the State of New York, as such laws are applied to contracts entered into and wholly to be performed within the State of New York and without giving effect to any principles of conflicts or choice of law that would result in the application
of the laws of any other jurisdiction.

     13.     Covenants To Bind Successor and Assigns.  All covenants, stipulations, promises and
agreements in this Warrant contained by or on behalf of the Company shall bind its successors and assigns, whether so expressed or not.

     14.     Severability.  In case any one or more of the provisions contained in this Warrant shall
be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby.  The parties shall endeavor in good faith negotiations
to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.

     15.     Construction. The definitions of this Warrant shall apply equally to both the singular and
the plural forms of the terms defined. Wherever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The section and paragraph headings used herein are for convenience of reference only, are not
part of this Warrant and are not to affect the construction of or be taken into consideration in interpreting this Warrant.

     16.     Remedies. The Holder, in addition to being entitled to exercise all rights granted by law,
including recovery of damages, will be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions
of this Warrant and hereby agrees to waive the defense in any action for specific performance that a remedy at law would be adequate. In any action or proceeding brought to enforce any provision of this Warrant or where any provision hereof is
validly asserted as a defense, the successful party to such action or proceeding shall be entitled to recover reasonable attorneys’ fees in addition to any other available remedy.

[SIGNATURE PAGE FOLLOWS]

11

     IN WITNESS WHEREOF, the Company has executed this Common Stock Purchase Warrant as of the date first set forth above.

	
COMPANY: 
 
	
 
 
	
WILSON HOLDINGS, INC. 
 
	
 
 
	
 
 
	
By:	

 

	
  	
 Clark Wilson, 
 
	
  	
 President and Chief Executive Officer 
 

 

 

 

 

 

 

 

 

 

 

 

 

[SIGNATURE PAGE TO COMMON STOCK PURCHASE WARRANT]

NOTICE AND

SUBSCRIPTION 
 

	
 
 
	
To: 
 
 	
   	
WILSON HOLDINGS, INC. 
 
 	
   	
Date: 
 _____________________
	
 
 
 	
   	
2700 Via Fortuna, Suite 400 
 
 	
   	
 
 
 
	
 
 
 	
   	
Austin, TX 78746 
 
 	
   	
 
 
 

 
     The undersigned hereby irrevocably elects to exercise the right of purchase represented by the attached Warrant for, and to exercise thereunder, __________shares of Common Stock, of WILSON
HOLDINGS, INC., a Nevada corporation, and tenders herewith payment of $__________, representing the aggregate purchase price for such shares based on the price per share provided for in such Warrant. Such payment is being made in
accordance with Section 2.1(a) of the attached Warrant.

Please issue a certificate or certificates for such shares of Common Stock in the following name or names and denominations and deliver such certificate or certificates to the person or persons listed below at their respective
addresses set forth below:

_______________________________

_______________________________

_______________________________

_______________________________

If said number of shares of Common Stock shall not be all the shares of Common Stock issuable upon exercise of the attached Warrant, a new Warrant is to be issued in the name of the undersigned for the balance remaining of such
shares of Common Stock less any fraction of a share of Common Stock paid in cash.

	
Dated: 
 
 	
   	
___________, 
 ______	
__________________________ 
 
 
	
 	
Signature 

The undersigned Wilson Holdings, Inc. hereby acknowledges receipt of this Notice and Subscription and authorizes issuance of the shares of Common Stock described above.

	
Wilson Holdings, Inc. 
 
 
	
 
 
 
	
By:	
 
	
Title:	
 
	
Date:	
 

FORM OF ASSIGNMENT

(To be executed upon assignment of Warrant)

For value received, __________________________________hereby sells, assigns and transfers unto __________________the attached Warrant [__% of the attached Warrant], together with all
right, title and interest therein, and does hereby irrevocably constitute and appoint ____________________attorney to transfer said Warrant [said percentage of said Warrant] on the books of WILSON HOLDINGS, INC., a Nevada corporation, with
full power of substitution in the premises.

     If not all of the attached Warrant is to be so transferred, a new Warrant is to be issued in the name of the undersigned for the balance of said Warrant.

     The undersigned hereby agrees that it will not sell, assign, or transfer the right, title and interest in and to the Warrant unless applicable federal and state securities laws have been complied
with.

 

	
Dated: 
 
 	
   	
___________, 
 ______	
__________________________ 
 
 
	
 	
Signature 

FORM OF CONVERSION
NOTICE 
 

	
 
 
 
	
To: 
 
 	
   	
WILSON HOLDINGS, INC. 
 
 	
   	
Date: 
 _____________________
	
 
 
 	
   	
2700 Via Fortuna, Suite 400 
 
 	
   	
 
 
 
	
 
 
 	
   	
Austin, TX 78746 
 
 	
   	
 
 
 

 
The undersigned registered holder of the attached Warrant hereby irrevocably converts such Warrants with respect to ________1 Warrant
Shares which such holder would be entitled to receive upon the exercise hereof, and requests that the certificates for such shares be issued in the name of, and delivered to _________________, whose address is as follows:

_______________________________

_______________________________

_______________________________

_______________________________

Such conversion is being made in accordance with Section 2.1(b) of the attached Warrant. The undersigned hereby represents and warrants as follows: 

     (a)     the undersigned is acquiring such shares of Common Stock for its own account for investment and not for resale or with a view to distribution thereof in
violation of the Securities Act; and

     (b)     the undersigned is an “accredited investor” as defined in Rule 501 of Regulation D promulgated under the Securities Act and was not organized for
the purpose of acquiring the Warrant or such shares of Common Stock. The undersigned’s financial condition is such that it is able to bear the risk of holding such securities for an indefinite period of time and the risk of loss of its entire
investment.  The undersigned has sufficient knowledge and experience in investing in companies similar to the Company so as to be able to evaluate the risks and merits of its investment in the Company.

	
Dated: 
 	
  	
_______________________________________
	
 
 	
  	
(Signature must conform in all respects to name of 
 
	
 
 	
  	
holder as specified on the face of Warrant) 
 
	
 	
 	

_______________________________________
	
  	
  	
(Street Address) 
 
	
  	
  	

_______________________________________
	
  	
  	
(City)                  (State)                                  (Zip Code)

 _______________________

1 Insert here the number of Warrant Shares into which the Warrant is convertible (or, in the case of a partial conversion, the number of Warrant Shares as to which the
Warrants evidenced by this Warrant Certificate are then being converted). In the case of a partial conversion, a new Warrant Certificate will be issued and delivered, representing the unconverted portion of the Warrants, to the holder surrendering
this Warrant Certificate.

 

The undersigned Wilson Holdings, Inc. hereby acknowledges receipt of this Conversion Notice and authorizes issuance of the shares of Common
Stock described above.

	
Wilson Holdings, Inc. 
 
 
	
 
 
 
	
By:	
 
	
Title:	
 
	
Date:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00095-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00095-of-00352.parquet"}]]