Document:

Exhibit 10.2

    
      
        

      

      EXHIBIT
        B

      to
        Subscription Agreement

       

      REGISTRATION
        RIGHTS AGREEMENT

       

      AGREEMENT
        dated as
        of December 29,
        2006,
        between MERCATOR MOMENTUM FUND, L.P., MERCATOR MOMENTUM FUND III, L.P,
        MONARCH POINTE FUND, LTD. (collectively, the "Funds")
        and
        M.A.G. CAPITAL, LLC ("MAG")
        (the
        Funds and MAG are referred to individually as a "Holder"
        and
        collectively as the "Holders"),
        and
        M-WAVE, INC., a Delaware corporation (the "Company").

       

      WHEREAS,
        pursuant to that certain Subscription Agreement, dated as of December 29,
        2006,
        among the Company and the Holders (the "Subscription
        Agreement"),
        the
        Funds are purchasing, in exchange for certain securities and the cancellation
        of
        certain indebtedness, an aggregate of 5,000 shares of Series B Convertible
        Preferred Stock (together, the "Series B
        Stock")
        from
        the Company, and have the right to cause their Series B Stock to be
        converted into shares of Common Stock (the "Common
        Stock"),
        of
        the Company, pursuant to the conversion formula set forth in the Certificate
        of
        Designations of Preferences and Rights of Series B Convertible Preferred
        Stock
        of M-Wave, Inc. (the "Certificate
        of Designations"); 

       

      WHEREAS,
        the
        Company desires to grant to the Holders the registration rights set forth
        herein
        with respect to the shares of Common Stock issuable upon the conversion of
        the
        Series B Stock.

       

      NOW,
        THEREFORE,
        the
        parties hereto mutually agree as follows:

       

      1.   Registrable
        Securities.
        As used
        herein the terms "Registrable
        Security"
        means
        each of the shares of Common Stock issued upon the conversion of the Series
        B
        Stock (the "B
        Conversion Shares"),
        provided, however, that with respect to any particular Registrable Security,
        such security shall cease to be a Registrable Security when, as of the date
        of
        determination that (a) it has been effectively registered under the
        Securities Act of 1933, as amended (the "Securities
        Act"),
        and
        disposed of pursuant thereto, or (b) registration under the Securities Act
        is no longer required for the immediate public distribution of such security.
        The term "Registrable
        Securities"
        means
        any and/or all of the securities falling within the foregoing definition
        of a
        "Registrable Security." In the event of any merger, reorganization,
        consolidation, recapitalization or other change in corporate structure affecting
        the Common Stock, such adjustment shall be made in the definition of
        "Registrable Security" as is appropriate in order to prevent any dilution
        or
        enlargement of the rights granted pursuant to this Section 1.

       

      2.   Registration.

       

      (a)   The
        Company shall file a registration statement (the "Registration
        Statement")
        with
        the Securities and Exchange Commission (the "Commission")
        on or
        prior to the Filing Deadline (as defined below), in order to register the
        resale
        of the Registrable Securities under the Securities Act. Once effective, the
        Company shall maintain the effectiveness of the Registration Statement until
        the
        earlier of (i) the date that all of the Registrable Securities have been
        sold, or (ii) the date that the Company receives an opinion of counsel to
        the Company that all of the Registrable Securities may be freely traded without
        registration under the Securities Act, under Rule 144 promulgated under the
        Securities Act or otherwise. The term "Filing Deadline" means (i) in the
        event
        that within 45 days after the Closing Date (as that term is defined in the
        Subscription Agreement) the Company enters into any agreement (a "Merger
        Agreement") to effect a merger, reorganization, consolidation, recapitalization,
        sale of substantial assets or similar transaction, the date that is 45 days
        after the Company enters into such Merger Agreement, or (ii) in the event
        that
        the Company does not enter into a Merger Agreement within 45 days after the
        Closing Date, the date that is 60 days after the Closing Date.

       

      
        
           

        

        
          -1-

          
            

          

        

        
           

        

      

      (b)   The
        Company
        will initially include in the Registration Statement as Registrable Securities
        the
        number of shares
        of
        Common Stock into which the Series B Stock is convertible at the date of
        the
        initial filing of the Registration Statement.

       

      (c)   Depending
        on whether the Registration Statement has previously become effective with
        the
        Commission, the Company shall register additional shares if and as required
        pursuant to the Subscription Agreement or the Certificate of Designations
        either
        by amending the Registration Statement to increase the number of shares that
        it
        covers or by filing a new registration statement. Any such new registration
        statement shall thereafter be deemed part of the Registration Statement for
        the
        purposes of this Agreement.

       

      3.   Covenants
        of the Company with Respect to Registration.

       

      The
        Company covenants and agrees as follows:

       

      (a)   The
        Company shall use its best efforts to cause the Registration Statement to
        become
        effective with the Commission
        as
        promptly as possible and (i) in the event that the Company enters into a
        Merger
        Agreement within 45 days after the Closing Date, not later than 150 days
        after
        the date the Company enters into such Merger Agreement and (ii) in the event
        that the Company does not enter into a Merger Agreement within 45 days after
        the
        Closing Date, within 60 days of the date the Registration Statement is filed
        with the Commission. If any stop order shall be issued by the Commission
        in
        connection therewith, the Company shall use its best efforts to obtain promptly
        the removal of such order. Following the effective date of the Registration
        Statement, the Company shall, upon the request of any Holder, forthwith supply
        such reasonable number of copies of the Registration Statement, preliminary
        prospectus and prospectus meeting the requirements of the Securities Act,
        and
        any other documents necessary or incidental to the public offering of the
        Registrable Securities, as shall be reasonably requested by the Holder to
        permit
        the Holder to make a public distribution of the Holder's Registrable Securities.
        The obligations of the Company hereunder with respect to the Holder's
        Registrable Securities are subject to the Holder's furnishing to the Company
        such appropriate information concerning the Holder, the Holder's Registrable
        Securities and the terms of the Holder's offering of such Registrable Securities
        as the Company may reasonably request in writing.

       

      (b)   The
        Company shall pay all costs, fees and expenses in connection with the
        Registration Statement filed pursuant to Section 2 hereof including,
        without limitation, the Company's legal and accounting fees, printing expenses,
        and blue sky fees and expenses; provided, however, that each Holder shall
        be
        solely responsible for the fees of any counsel retained by the Holder in
        connection with such registration and any transfer taxes or underwriting
        discounts, commissions or fees applicable to the Registrable Securities sold
        by
        the Holder pursuant thereto.

       

      
        
           

        

        
          -2-

          
            

          

        

        
           

        

      

      (c)   The
        Company will take all necessary actions which may be required to qualify
        or
        register the Registrable Securities included in the Registration Statement
        for
        the offer and sale under the securities or blue sky laws of such states as
        are
        reasonably requested by each Holder of such securities, provided that the
        Company shall not be obligated to execute or file any general consent to
        service
        of process or to qualify as a foreign corporation to do business under the
        laws
        of any such jurisdiction.

       

      4.   Additional
        Terms.

       

      (a)   The
        Company shall indemnify and hold harmless the Holders and each underwriter,
        within the meaning of the Securities Act, who may purchase from or sell for
        any
        Holder, any Registrable Securities, from and against any and all losses,
        claims,
        damages and liabilities caused by any untrue statement of a material fact
        contained in the Registration Statement, any other registration statement
        filed
        by the Company under the Securities Act with respect to the registration
        of the
        Registrable Securities, any post-effective amendment to such registration
        statements, or any prospectus included therein or caused by any omission
        to
        state therein a material fact required to be stated therein or necessary
        to make
        the statements therein not misleading, except insofar as such losses, claims,
        damages or liabilities are caused by any such untrue statement or omission
        based
        upon information furnished or required to be furnished in writing to the
        Company
        by the Holders or underwriter expressly for use therein, which indemnification
        shall include each person, if any, who controls any Holder or underwriter
        within
        the meaning of the Securities Act and each officer, director, employee and
        agent
        of each Holder and underwriter; provided, however, that the indemnification
        in
        this Section 4(a) with respect to any prospectus shall not inure to the
        benefit of any Holder or underwriter (or to the benefit of any person
        controlling any Holder or underwriter) on account of any such loss, claim,
        damage or liability arising from the sale of Registrable Securities by the
        Holder or underwriter, if a copy of a subsequent prospectus correcting the
        untrue statement or omission in such earlier prospectus was provided to such
        Holder or underwriter by the Company prior to the subject sale and the
        subsequent prospectus was not delivered or sent by the Holder or underwriter
        to
        the purchaser prior to such sale and provided further, that the Company shall
        not be obligated to so indemnify any Holder or any such underwriter or other
        person referred to above unless the Holder or underwriter or other person,
        as
        the case may be, shall at the same time indemnify the Company, its directors,
        each officer signing the Registration Statement and each person, if any,
        who
        controls the Company within the meaning of the Securities Act, from and against
        any and all losses, claims, damages and liabilities caused by any untrue
        statement of a material fact contained in the Registration Statement, any
        registration statement or any prospectus required to be filed or furnished
        by
        reason of this Agreement or caused by any omission to state therein a material
        fact required to be stated therein or necessary to make the statements therein
        not misleading, insofar as such losses, claims, damages or liabilities are
        caused by any untrue statement or omission based upon information furnished
        in
        writing to the Company by the Holder or underwriter expressly for use
        therein.

       

      (b)   If
        for
        any reason the indemnification provided for in the preceding section is held
        by
        a court of competent jurisdiction to be unavailable to an indemnified party
        with
        respect to any loss, claim, damage, liability or expense referred to therein,
        then the indemnifying party, in lieu of indemnifying such indemnified party
        thereunder, shall contribute to the amount paid or payable by the indemnified
        party as a result of such loss, claim, damage or liability in such proportion
        as
        is appropriate to reflect the relative fault of the indemnified party and
        the
        indemnifying party, as well as any other relevant equitable
        considerations.

       

      
        
           

        

        
          -3-

          
            

          

        

        
           

        

      

      (c)   Neither
        the filing of a Registration Statement by the Company pursuant to this Agreement
        nor the making of any request for prospectuses by the Holder shall impose
        upon
        any Holder any obligation to sell the Holder's Registrable
        Securities.

       

      (d)   Each
        Holder, upon receipt of notice from the Company that an event has occurred
        which
        requires a Post-Effective Amendment to the Registration Statement or a
        supplement to the prospectus included therein, shall promptly discontinue
        the
        sale of Registrable Securities until the Holder receives a copy of a
        supplemented or amended prospectus from the Company, which the Company shall
        provide as soon as practicable after such notice.

       

      (e)   If
        the
        Company fails to keep the Registration Statement referred to above continuously
        effective during the requisite period, then the Company shall, promptly upon
        the
        request of any Holder, use its best efforts to update the Registration Statement
        or file a new registration statement covering the Registrable Securities
        remaining unsold, subject to the terms and provisions hereof.

       

      (f)   Each
        Holder agrees to provide the Company with any information or undertakings
        reasonably requested by the Company in order for the Company to include any
        appropriate information concerning the Holder in the Registration Statement
        or
        in order to promote compliance by the Company or the Holder with the Securities
        Act.

       

      (g)   The
        Company agrees that it shall cause each of its directors, officers and
        shareholders owning ten percent (10%) or more of the Company's outstanding
        Common Stock to refrain from selling any shares of the Company's Common Stock
        until the Registration Statement has been declared effective.

       

      (h)   Each
        Holder, on behalf of itself and its affiliates and the permitted assignee
        of any
        Conversion Shares, hereby covenants and agrees not to, directly or indirectly,
        offer to "short sell", contract to "short sell" or otherwise "short sell"
        any
        securities of the Company, including, without limitation, shares of Common
        Stock
        that will be received as a result of the conversion of the Series B
        Stock.

       

      5.   Governing
        Law.
        The
        Registrable Securities will be, if and when issued, delivered in California.
        This
        Agreement shall be deemed to have been made and delivered in the State of
        California
        and
        shall be governed as to validity, interpretation, construction, effect and
        in
        all other respects by the internal substantive laws of the State of California,
        without
        giving effect to the choice of law rules thereof.

       

      6.   Amendment.
        This
        Agreement may only be amended by a written instrument executed by the Company
        and the Holders.

       

      
        
           

        

        
          -4-

          
            

          

        

        
           

        

      

      7.   Entire
        Agreement.
        This
        Agreement constitutes the entire agreement of the parties hereto with respect
        to
        the subject matter hereof, and supersedes all prior agreements and
        understandings of the parties, oral and written, with respect to the subject
        matter hereof.

       

      8.   Execution
        in Counterparts.
        This
        Agreement may be executed in one or more counterparts, each of which shall
        be
        deemed an original, but all of which together shall constitute one and the
        same
        document.

       

      9.   Notices.
        All
        notices, requests, demands and other communications hereunder shall be in
        writing and shall be deemed duly given when delivered by hand or mailed by
        registered or certified mail, postage prepaid, return receipt requested,
        as
        follows:

       

      If
        to the
        Holders,                 
M.A.G.
        Capital, LLC

      Mercator
        Momentum Fund, L.P.

      Mercator
        Momentum Fund III, L.P.

      Monarch
        Pointe Fund, Ltd. 

      555
        South
        Flower Street, Suite 4200

      Los
        Angeles, CA 90071

      Attention:
        David Firestone

      

      With
        a
        copy
        to                    
Latham
        & Watkins LLP

      633
        West
        Fifth Street

      40th
        Floor

      Los
        Angeles, CA 90071

      Telephone
        No.: (213) 891-7874

      Facsimile
        No.: (213) 891-8763

      Attention:
        Justin O’Neill

       

      If
        to the
        Company,  M-Wave,
        Inc. 

      11533
        Franklin Avenue, 2nd
        Floor

      Franklin
        Park, Illinois 60131

      Telephone
        No.: 630-562-4751

      Facsimile
        No.: 630-562-1775

      Attention:
        Jeff
        Figlewicz

       

      With
        a
        copy
        to                     Ellenoff
        Grossman & Schole LLP

      370
        Lexington Avenue, Floor 19

      New
        York,
        New York 10017

      Telephone
        No.: 212-370-1300

      Facsimile
        No.: 212-370-7889

      Attention:
        Barry I. Grossman

       

      10.   Binding
        Effect; Benefits.
        Any
        Holder may assign its rights hereunder. This Agreement shall inure to the
        benefit of, and be binding upon, the parties hereto and their respective
        heirs,
        legal representatives, successors and assigns. Nothing herein contained,
        express
        or implied, is intended to confer upon any person other than the parties
        hereto
        and their respective heirs, legal representatives and successors, any rights
        or
        remedies under or by reason of this Agreement.

      
        
          
             

          

          
            -5-

            
              

            

          

          
             

          

        

      

      

      11.   Headings.
        The
        headings contained herein are for the sole purpose of convenience of reference,
        and shall not in any way limit or affect the meaning or interpretation of
        any of
        the terms or provisions of this Agreement.

       

      12.   Severability.
        Any
        provision of this Agreement which is held by a court of competent jurisdiction
        to be prohibited or unenforceable in any jurisdiction(s) shall be, as to
        such
        jurisdiction(s), ineffective to the extent of such prohibition or
        unenforceability without invalidating the remaining provisions of this Agreement
        or affecting the validity or enforceability of such provision in any other
        jurisdiction.

       

      13.   Jurisdiction.
        Each of
        the parties irrevocably agrees that any and all suits or proceedings based
        on or
        arising under this Agreement may be brought only in and shall be resolved
        in the
        federal or state courts located in the City of Los Angeles, California
        and
        consents to the jurisdiction of such courts for such purpose. Each of the
        parties irrevocably waives the defense of an inconvenient forum to the
        maintenance of such suit or proceeding in any such court. Each of the parties
        further agrees that service of process upon such party mailed by first class
        mail to the address set forth in Section 8 shall be deemed in every respect
        effective service of process upon such party in any such suit or proceeding.
        Nothing herein shall affect the right of other
        party
        to serve
        process in any other manner permitted by law. Each of the parties agrees
        that a
        final non-appealable judgment in any such suit or proceeding shall be conclusive
        and may be enforced in other jurisdictions by suit on such judgment or in
        any
        other lawful manner.

       

      14.   Attorneys'
        Fees and Disbursements.
        If any
        action at law or in equity is necessary to enforce or interpret the terms
        of
        this Agreement, the prevailing party or parties shall be entitled to receive
        from the other party or parties reasonable attorneys' fees and disbursements
        in
        addition to any other relief to which the prevailing party or parties may
        be
        entitled.

       

      [The
        balance of this page is intentionally left blank.]

      

        
          
             

          

          
            -6-

            
              

            

          

          
             

          

        

      

       

      IN
        WITNESS WHEREOF,
        this
        Agreement has been executed and delivered by the parties hereto as of the
        date
        first above written.

       

      
        	 	
                M-WAVE,
                  INC.

              
	 	 	 
	 	 	 
	 	
                By:
                  

              	
                /s/
                  Joesph A. Turek

              
	 	
                Name:

              	
                Joseph
                  A.Turek

              
	 	
                Its:

              	
                President

              
	 	 	 
	 	
                HOLDERS:

              
	 	 	 
	 	
                MERCATOR
                  MOMENTUM FUND, L.P.

              
	 	
                BY:
                  M.A.G. CAPITAL, LLC

              
	 	
                ITS
                  GENERAL PARTNER

              
	 	 	 
	 	 	 
	 	
                By:
                  

              	 
	 	
                Name:

              	 
	 	
                Its:

              	 
	 	 	 
	 	
                MERCATOR
                  MOMENTUM FUND III, L.P.

              
	 	
                BY:
                  M.A.G. CAPITAL, LLC

              
	 	
                ITS
                  GENERAL PARTNER

              
	 	 	 
	 	 	 
	 	
                By:
                  

              	 
	 	
                Name:

              	 
	 	
                Its:

              	 
	 	 	 
	 	
                M.A.G.
                  CAPITAL, LLC

              
	 	 	 
	 	 	 
	 	
                By:
                  

              	 
	 	
                Name:

              	 
	 	
                Its:

              	 
	 	 	 
	 	
                MONARCH
                  POINTE FUND, LTD.

              
	 	 	 
	 	 	 
	 	
                By:
                  

              	 
	 	
                Name:

              	 
	 	
                Its:

              	 

      

       

       

      -7-STOCK
      REDEMPTION AGREEMENT

    

    This
      Stock Redemption Agreement (the “Agreement”) is made and entered into this
      December 28, 2006, by and between OraLabs Holding Corp., a Colorado corporation
      (the “Company”) and Gary H. Schlatter (“Schlatter”).

     

    WHEREAS,
      Schlatter is the legal and beneficial owner of 3,629,350 shares of the Company’s
      Common Stock, par value $0.001 per share (the “Common Stock”); and

    

    WHEREAS,
      the Company has agreed to purchase the Common Stock from Schlatter and Schlatter
      has agreed to sell shares of the Common Stock to the Company in accordance
      with
      and upon the terms and conditions set forth in this Agreement; and

    

    WHEREAS,
      the Company is the legal and beneficial owner of 100 shares of the common stock
      of OraLabs, Inc., a Colorado corporation (the “Subsidiary”), par value $0.001
      per share (the “Subsidiary Common Stock”); and

    

    WHEREAS,
      Schlatter has agreed to purchase the Subsidiary Common Stock from the Company
      and the Company has agreed to sell shares of the Subsidiary Common Stock to
      Schlatter in accordance with and upon the terms and conditions set forth in
      this
      Agreement; and

    

    WHEREAS,
      immediately prior to the Closing (as defined below), the Company shall have
      closed on the Stock Exchange Agreement, dated as of March 31, 2006, as amended,
      by and among the Company, Partner Success Holdings Limited, a British Virgin
      Islands International business company (“PSHL”) and such of the shareholders of
      PSHL (the “Stock Exchange Agreement”).

    

    NOW,
      THEREFORE, in consideration of, and in reliance upon, the representations,
      warranties, covenants and conditions set forth in this Agreement, and other
      good
      and valuable consideration, the receipt and sufficiency of which are hereby
      acknowledged, the parties hereto hereby agree as follows:

     

    1. Purchase
      and Sale of Common Stock.
      At the
      Closing, subject to the terms and conditions set forth herein, Schlatter shall
      sell, transfer, assign, convey and deliver to the Company, and the Company
      shall
      purchase from Schlatter, 3,629,350 shares of the Company’s Common Stock, free
      and clear of all liens, encumbrances, options, claims, charges or other
      restrictions of any kind, except for such restrictions as may exist under
      applicable federal and state laws.

     

    2. Purchase
      Price.
      As the
      purchase price for the Common Stock, subject to the terms and conditions set
      forth herein, the Company shall transfer, assign, convey and deliver to
      Schlatter one hundred (100) shares of the Subsidiary Common Stock held by the
      Company, free and clear of all liens, encumbrances, options, claims, charges
      or
      other restrictions of any kind, except for such restrictions as may exist under
      applicable federal and state laws.

     

    3. Closing.
      The
      closing of the transactions contemplated herein (the “Closing”) shall occur in
      the offices of Koff, Corn & Berger, P.C., 303 E. 17th
      Street,
      Suite 940, Denver, Colorado 80263 on December 28, 2006 immediately following
      the
      closing of the Stock Exchange Agreement. 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    4. Representations
      and Warranties.

     

    a. Seller’s
      Representations and Warranties.

     

    (i) Organization;
      Corporate Authority.
      Schlatter has all requisite power and authority to execute and deliver this
      Agreement to the Company and when executed, this Agreement shall be a valid
      and
      binding obligation of Schlatter, enforceable against him in accordance with
      its
      terms, except (i) as limited by applicable bankruptcy, insolvency,
      reorganization, moratorium and other laws of general application affecting
      enforcement of creditors’ rights generally and (ii) as limited by laws relating
      to the availability of specific performance, injunctive relief or other
      equitable remedies. 

     

    (ii) Valid
      Issuance of the Common Stock.
      The
      shares of the Common Stock, when sold and delivered in accordance with the
      terms
      of this Agreement for the consideration expressed herein shall be duly and
      validly issued, fully-paid and nonassessable and shall be free of restrictions
      on transfer, except for such restrictions as may exist under applicable federal
      and state laws.

    

    (iii) Purchase
      Entirely for Own Account.
      The
      Subsidiary Common Stock is being acquired by Schlatter for investment purposes
      only, for his own account, not as a nominee or agent, and not with a view to
      the
      resale or distribution of any part thereof, and he has no present intention
      of
      selling, granting any participation in, entering into any derivative transaction
      with, or otherwise distributing, the same and does not have any contract,
      undertaking, agreement or arrangement with any person to do the
      same.

     

    (iv) Disclosure
      of Information.
      Schlatter believes he has received all the information he considers necessary
      or
      appropriate in deciding whether to purchase the Subsidiary Common Stock.
      Schlatter further represents that he has had an opportunity to ask questions
      and
      receive all answers he deems necessary from the Company regarding the terms
      and
      conditions of the offering of the Subsidiary Common Stock and the business,
      properties, prospects and financial condition of the Subsidiary. 

     

    (v) Investment
      Experience.
      Schlatter has experience in investing in the securities and acknowledges that
      he
      can bear the economic risk of his investment, and has such knowledge and
      experience in financial or business matters that he is capable of evaluating
      the
      merits and risks of the investment in the Subsidiary Common Stock.
      Schlatter acknowledges that an investment in the Subsidiary Common Stock
      involves a high degree of risk.

     

    (vi) Accredited
      Investor.
      Schlatter is an “accredited investor” within the meaning of Rule 501 of
      Regulation D, as presently in effect. Schlatter also represents that he has
      not
      been organized for the purpose of acquiring the Subsidiary Common Stock, or
      if
      he was organized for such purpose, each of his equity owners is an “accredited
      investor” within the meaning of Rule 501 of Regulation D, as presently in
      effect.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    (vii) Restricted
      Securities.
      Schlatter understands that (i) the Subsidiary Common Stock are “restricted
      securities” under federal and state securities laws inasmuch as they are being
      acquired from the Company in a transaction or transactions not involving a
      public offering and that the Subsidiary has no present intention of registering
      any shares of its capital stock under the Securities Act of 1933, as amended
      (the “Act”),
      (ii)
      under such laws and applicable regulations such Subsidiary Common Stock may
      not
      be transferred, hypothecated, resold, made the subject of a derivatives
      transaction or otherwise distributed without an effective registration under
      the
      Act except in certain limited circumstances in strict compliance with the Act
      and state securities laws and (iii) in the absence of an effective registration
      statement covering the Subsidiary Common Stock or an available exemption from
      registration under the Act, the Subsidiary Common Stock must be held
      indefinitely. 

     

    (viii) Legend.
      Schlatter acknowledges that each certificate representing the shares of
      Subsidiary Common Stock shall (unless otherwise permitted by the provisions
      of
      this Agreement) be stamped or otherwise imprinted with a legend substantially
      similar to the following (in addition to any legend required under applicable
      state securities laws or as provided elsewhere in this Agreement):

     

    THE
      SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
      SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES LAW, AND
      MAY NOT BE SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED OR OFFERED
      FOR
      SALE UNLESS REGISTERED UNDER THAT ACT AND SUCH STATE SECURITIES LAWS OR A
      WRITTEN OPINION THAT THE PROPOSED SALE OR TRANSFER IS EXEMPT FROM REGISTRATION
      UNDER THAT ACT AND THOSE STATE SECURITIES LAWS HAS BEEN RENDERED BY COUNSEL
      FOR
      THE COMPANY.

     

    b. Company’s
      Representations and Warranties. 

     

    (i) Organization;
      Corporate Authority.
      The
      Company is a corporation, duly organized, validly existing and in good standing
      under the laws of the State of Colorado. The Company has all requisite corporate
      power and authority to execute, deliver and perform this Agreement and this
      Agreement is a valid and binding obligation of the Company, enforceable against
      it in accordance with its terms, except (i) as limited by applicable bankruptcy,
      insolvency, reorganization, moratorium and other laws of general application
      affecting enforcement of creditors’ rights generally and (ii) as limited by laws
      relating to the availability of specific performance, injunctive relief or
      other
      equitable remedies. 

     

    (ii) Valid
      Issuance of the Subsidiary Common Stock.
      The
      shares of the Subsidiary Common Stock, when sold and delivered in accordance
      with the terms of this Agreement for the consideration expressed herein shall
      be
      duly and validly issued, fully-paid and nonassessable and shall be free of
      restrictions on transfer, except for such restrictions as may exist under
      applicable federal and state laws.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    5. Closing
      Conditions.

     

    a. Conditions
      to Obligations of Schlatter.
      The
      obligations of Schlatter to effect the Closing are further subject to the
      following conditions:

     

    (i) Representations
      and Warranties.
      The
      representations and warranties of the Company set forth in this Agreement shall
      be true and correct in all respects.

     

    (ii) Share
      Certificates.
      The
      Company shall have delivered to Schlatter, in accordance with the terms hereof,
      (A) the certificate or certificates representing the Subsidiary Common Stock,
      registered in the name of the Company, duly endorsed by the Company for transfer
      or accompanied by duly executed stock powers such that the Subsidiary Common
      Stock is suitable for transfer to Schlatter; and (B) any and all other
      instruments and documents executed by the Company reasonably necessary to
      consummate the transactions contemplated herein.

     

    b. Conditions
      to Obligations of the Company.
      The
      obligations of the Company to effect the Closing:

     

    (i) Representations
      and Warranties.
      The
      representations and warranties of Schlatter set forth in this Agreement shall
      be
      true and correct in all respects.

     

    (ii) Share
      Certificates.
      Schlatter shall have delivered to the Company, in accordance with the terms
      hereof, (A) a certificate or certificates representing the Common Stock,
      registered in the name of Schlatter, duly endorsed by Schlatter for transfer
      or
      accompanied by duly executed stock powers such that the Common Stock evidenced
      by such certificates is suitable for transfer to the Company; and (B) any and
      all other instruments and documents executed by Schlatter normally necessary
      to
      consummate the transactions contemplated herein.

     

    6. Termination.
      This
      Agreement may be terminated and abandoned at any time prior to the Closing
      Date
      by mutual written consent of Schlatter and the Company.

     

    7. Miscellaneous.

     

    a. Notices.
      All
      notices, requests, claims, demands and other communications hereunder shall
      be
      in writing and shall be given by (i) delivery in person, by overnight courier
      with receipt requested, by facsimile transmission (with receipt confirmed by
      telephone) and such delivery shall be deemed to have been duly given upon
      receipt, or (ii) registered or certified mail (postage prepaid, return receipt
      requested) and such delivery shall be deemed to have been duly given two
      business days after being sent, to the other party as follows:

     

    If
      to the
      Company: 

     

    OraLabs
      Holding Corp.

    18685
      E.
      Plaza Drive

    Parker,
      Colorado 80134

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    with
      a
      copy to: 

     

    Kirkpatrick
      & Lockhart Nicholson Graham LLP 

    599
      Lexington Avenue

    New
      York,
      New York 10022

    Attn:
      Barbara Jones, Esq.

     

    If
      to
      Seller: 

     

    Mr.
      Gary
      H. Schlatter

    18685
      E.
      Plaza Dr.

    Parker,
      Colorado 80134

     

    With
      a
      copy to: 

     

    Koff, Corn
      & Berger, PC

    303
      E. 17th Street, Suite 940

    Denver,
      Colorado 80203-1262

    Attn:
      Douglas B. Koff

     

    or
      to
      such other address as the party to whom notice is given may have previously
      furnished ! the other parties in writing in the manner set forth
      above

     

    b. Entire
      Agreement.
      This
      Agreement contains the entire understanding and agreement of the parties hereto
      with respect to the subject matter hereof and may not be altered or amended
      except by the written agreement of the parties hereto. No provision of this
      Agreement or right of Schlatter hereunder can be waived nor can the Company
      be
      released from its obligations hereunder except by a writing duly executed by
      Schlatter.

     

    c. Severability.
      Should
      anyone or more provisions of this Agreement be determined to be illegal or
      unenforceable, all other provisions of this Agreement nevertheless shall be
      effective.

     

    d. Terminology.
      Where
      the context or construction requires, all words applied in the plural shall
      be
      deemed to have been used in the singular and vice versa, and the neuter shall
      include the masculine and feminine.

     

    e. Counterparts.
      This
      Agreement may be executed in two or more counterparts, each of which shall
      be
      deemed an original, but all of which together shall constitute one and the
      same
      instrument.

     

    f. Headings.
      The
      headings of the several paragraphs hereof are included only for the convenience
      of reference and are not intended to govern, construe or modify any provisions
      of the several paragraphs hereof.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    g. Applicable
      Law.
      This
      Agreement is to be governed by and construed in accordance with the laws of
      the
      State of Colorado, without giving effect to its choice of law rules. Any
      dispute, controversy or claim arising under or in any way related to this
      Agreement or the breach thereof shall only be submitted to and settled by
      binding arbitration before a single arbitrator by the American Arbitration
      Association in accordance with the Association’s commercial rules then in
      effect. The arbitration (or legal proceedings described at the end of this
      paragraph) will only be conducted in Denver, Colorado, which the parties agree
      is the exclusive venue for the proceedings. Judgment upon the award rendered
      by
      the arbitrators may be entered in any court having jurisdiction thereof. The
      arbitrator may award reasonable attorneys fees to the prevailing party, or
      if
      the arbitrator believes that more than one party has prevailed in separate
      aspects of the arbitration, the arbitrator may award attorneys fees as it deems
      appropriate.

     

    h. Amendment
      or Waiver.
      Every
      right and remedy provided herein shall be cumulative with every other right
      and
      remedy, whether conferred herein, at law, or in equity, and may be enforced
      concurrently herewith, and no waiver by any party of the performance of any
      obligation by the other shall be construed as a waiver of the same or any other
      default then, theretofore, or thereafter occurring or existing. At any time
      prior to the Closing Date, this Agreement may be amended by mutual written
      consent of all the Parties, with respect to any of the terms contained herein,
      and any term or condition of this Agreement may be waived or the time for
      performance hereof may be extended by a writing signed by the party or parties
      for whose benefit the provision is intended.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

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

    
 

    
      	 	 	 
	 	OraLabs
              Holding
              Corp.
	 
 	 
 	 
 
	 	By:  	/s/
              Wo Hing Li
	 	
              
Name: Wo
              Hing Li
	 	Title: President

    

    
 

    
      	 	
              /s/
                Gary H. Schlatter

              
                
Gary
                H. Schlatter

            

    

     

     

     

    
      
        
        

      

      
        7

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