Common use of Mandatory Registration Clause in Contracts

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holder.

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable Effective Date and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 S-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 S-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 S-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holder.

Mandatory Registration. Solely in (i) On or prior to the event there is not then a current registration statement concerning the resale of the Registrable SecuritiesFiling Deadline, the Company shall will prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, Commission a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register covering the resale of the Registrable Securities for an offering to be made on a continuous basis pursuant to Rule 415. The Registration Statement will be on Form S-1 or another appropriate form reasonably acceptable to S-3 (except if the Holder and undertake Company is not then eligible to register the for resale of the Registrable Securities on Form F-3 S-3, in which case such registration will be on Form S-1, and if for any reason the Company is not then eligible to register for resale the Registrable Securities on Form S-1, then another appropriate form for such purpose) and will contain (except if otherwise required pursuant to written comments received from the Commission upon a review of such Registration Statement) a “Plan of Distribution” section, substantially in the form attached hereto as Annex A, as the same may be amended in accordance with the provisions of this Agreement. The Company will use its reasonable best efforts to cause the Registration Statement to be declared effective under the Securities Act as soon as possible but, in any event, no later than the Effectiveness Deadline, and will use its reasonable best efforts to keep the Registration Statement (or a Subsequent Form S-3) continuously effective under the Securities Act until such date when the Registrable Securities covered by the Registration Statement cease to be Registrable Securities as determined by the counsel to the Company (the “Effectiveness Period”). (ii) Notwithstanding the registration obligations set forth in this Section 2(a), if the Commission informs the Company that all of the Registrable Securities cannot, as a result of the application of Rule 415, be registered for resale as a secondary offering on a single registration statement, the Company agrees to promptly inform each of the Holders thereof and use its reasonable best efforts to file amendments to the Initial Registration Statement as required by the Commission, covering the maximum number of Registrable Securities permitted to be registered by the Commission, on Form S-3 (or Form S-1, if Form S-3 is not available) or such other form is availableavailable to register for resale the Registrable Securities as a secondary offering; provided, provided however, that prior to filing such amendment, the Company shall maintain be obligated to use its reasonable best efforts to advocate with the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering Commission for the resale registration of all of the Registrable Securities has been declared effective in accordance with the Commission Guidance, including without limitation, Compliance and Disclosure Interpretation 612.09. (iii) Notwithstanding any other provision of this Agreement, if the Commission or any Commission Guidance sets forth a limitation on the number of Registrable Securities permitted to be registered on a particular Registration Statement as a secondary offering (and notwithstanding that the Company used its reasonable best efforts to advocate with the Commission for the registration of all or a greater portion of Registrable Securities), unless otherwise directed in writing by a Holder as to its Registrable Securities, the SEC and number of Registrable Securities to be registered on such Registration Statement will be reduced by reducing or eliminating any securities to be included other than Registrable Securities. In the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holderevent of a cutback under this Section 2(a)(iii), the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other each Holder unless such other Holder shall accept such offer by notice in writing to the Company within at least five (5) days thereafterTrading Days prior written notice along with the calculations as to such Holder’s allotment. The In the event the Company shall amends the Registration Statement in accordance with the foregoing, the Company will use its reasonable best efforts to have file with the Commission, as promptly as allowed by Commission or Commission Guidance provided to the Company or to registrants of securities in general, one or more registration statements on Form S-3 (or Form S-1, if Form S-3 is not available) or such Required other form available to register for resale those Registrable Securities that were not registered for resale on the Initial Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holderamended.

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the The Company shall prepare and prepare, and, as soon as practicable but in no event later than the Targeted Filing Date, file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by (the SEC and “Initial Registration Statement”). In the prospectus contained therein event that Form F-3 is available unavailable for use. Within ten (10) days after receiving written notice from the Holdersuch a registration, the Company shall give notice use such other form as is available for such a registration, subject to the other Holders provisions of Section 2.4. The Initial Registration Statement prepared pursuant hereto shall register for resale all of the Purchase Warrants advising that Registrable Securities issuable as of the Company date the Registration Statement is proceeding initially filed with such registration statement and offering to include therein Purchase Warrants of such other Holdersthe SEC. The Company Registration Statement shall not be obligated to any such other Holder unless such other Holder shall accept such offer contain (except if otherwise directed by notice the Required Holders) the “Selling Stockholders” and “Plan of Distribution” sections in writing to substantially the Company within five (5) days thereafter. form attached hereto as Exhibit A. The Company shall use its reasonable best efforts to have such Required Registration Statement, and each other the Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable, but in no event later than the Targeted Effectiveness Date. By 9:30 a.m. on the Business Day immediately following the Effective Date, the Company shall file with the SEC in accordance with Rule 424 under the Securities Act the final prospectus to be used in connection with sales pursuant to such Registration Statement. The Company shall pay keep such Initial Registration Statement continuously effective pursuant to Rule 415 at all times until the costs second anniversary of this Agreement (the “Initial Registration Period”). If after the expiry of the Initial Registration Period, there are one or more Investors that individually (together with such Investor’s affiliates and expenses thereofany other person with whom they may be deemed to be a “group” within the meaning of Rule 13d-5 under the US Securities Exchange Act) are the beneficial owner, for one time onlyas calculated in accordance with Rule 13d-1 of the Exchange Act, of more than 9.9% of the then issued and outstanding shares of the Company and the Company has withdrawn any Registration Statement filed within the Initial Registration Period, then such Investors will have a demand registration right to cause the Company to file a further Registration Statement covering the registration of such Registrable Securities then owned by such Investors (the “Additional Registration Statement”). The Company will file such Additional Registration Statement within twenty (20) days of written receipt of a request from an Investor further to this demand registration right and will maintain the effectiveness of such Additional Registration Statement until the earlier of (i) the date as on which costs and expenses shall include “Blue Sky” fees for counsel the Investors may sell all of the Registrable Securities covered by such Registration Statement without limitation or restriction pursuant to Rule 144 (or any successor thereto) promulgated under the Securities Act without the requirement for the Underwriter Company to be in compliance with the current public information requirements under Rule 144, (ii) the date on which no Investor (together with such Investor’s affiliates and any other person with whom they may be deemed to be a “Blue Skygroup” filing fees within the meaning of Rule 13d-5 under the US Securities Exchange Act) is the beneficial owner, as calculated in accordance with Rule 13d-1 of the Exchange Act, of more than 9.9% of the issued and outstanding shares of the Company, and (iii) the one year anniversary of the date of effectiveness of the Additional Registration Statement (the “Additional Registration Period”). If after expiry of the Additional Registration Period, there remain one or more Investors that individually (together with such Investor’s affiliates and any other person with whom they may be deemed to qualify be a “group” within the Purchase Warrants meaning of Rule 13d-5 under the US Securities Exchange Act) are the beneficial owner, as calculated in those jurisdictions requested by accordance with Rule 13d-1 of the HolderExchange Act, of more than 9.9% of the issued and outstanding shares of the Company and the Company has withdrawn any Additional Registration Statement filed within the Additional Registration Period, such Investor or Investors will have one additional demand registration right to cause the Company to file a further Additional Registration Statement for a further Additional Registration Period on the equivalent terms for the initial demand registration right described above in this paragraph.

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the i. The Company shall prepare and file with the SEC and use its reasonable best efforts to cause to become effective a Registration Statement on one occasion at its sole expenseForm S-3 (or, upon the written notice if Form S-3 is not then available, on such form of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, Registration Statement as is then available to effect a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register ) covering the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable as soon as practicable and in no event later than the date that is six months after the date hereof (the “Initial Registration Statement”). The Initial Registration Statement filed hereunder, to the Holder and undertake extent allowable under the Securities Act, shall state that such Initial Registration Statement also covers such indeterminate number of additional shares of Class A Common Stock as may become issuable to register prevent dilution resulting from stock splits, stock dividends or similar transactions. ii. Notwithstanding the resale registration obligations set forth in this Section 2, in the event the SEC informs the Company that all of the Registrable Securities cannot, as a result of the application of Rule 415, be registered for resale as a secondary offering on Form F-3 as soon as such form is availablea single registration statement, provided that the Company shall maintain promptly inform the effectiveness Purchaser and use its commercially reasonable efforts to (a) file amendments to the Initial Registration Statement as required by the SEC and/or (b) withdraw the Initial Registration Statement and file a new registration statement (a “New Registration Statement”), in either case covering the maximum number of all Registration Statements then in effect until Registrable Securities permitted to be registered by the SEC, on Form S-3 or such time other form available to register for resale the Registrable Securities as a secondary offering; provided, however, that prior to filing such amendment or New Registration Statement on Form F-3 covering Statement, the resale Company shall be obligated to use its commercially reasonable efforts to advocate with the SEC for the registration of all of the Registrable Securities has been declared effective in accordance with the SEC Guidance, including without limitation, Compliance and Disclosure Interpretation 612.09 of the rules adopted under the Securities Act. iii. Notwithstanding any other provision of this Agreement, if any SEC Guidance sets forth a limitation on the number of Registrable Securities permitted to be registered on a particular Registration Statement as a secondary offering (and notwithstanding that the Company used commercially reasonable efforts to advocate with the SEC for the registration of all or a greater number of Registrable Securities), unless otherwise directed in writing by a holder as to its Registrable Securities, the number of Registrable Securities to be registered on such Registration Statement will first be reduced by (a) Registrable Securities not acquired pursuant to the Purchase Agreement (whether pursuant to registration rights or otherwise) and, if Note Registrable Securities (as defined in the Note Registration Rights Agreement) are included in such offering, Registrable Securities (as defined in the Note Registration Rights Agreement) not acquired pursuant to the Note Purchase Agreement and (b) second by Registrable Securities that are Shares and, if Registrable Securities (as defined in the Note Registration Rights Agreement) are included in such offering, Note Registrable Securities (as defined in the Note Registration Rights Agreement) that are shares issued pursuant to the Note Purchase Agreement (applied, in the case that some shares may be registered, to all such holders on a pro rata basis based on the total number of unregistered shares held by all such holders, subject to a determination by the SEC and that the prospectus contained therein is available for useshares of certain holders must be reduced first based on the number of shares held by such holders). iv. Within ten In the event the Company amends the Initial Registration Statement or files a New Registration Statement, as the case may be, under clause (10ii) days after receiving written notice from the Holderabove, the Company shall give notice will use its commercially reasonable efforts to file with the other Holders of SEC, as promptly as allowed by the Purchase Warrants advising that SEC or the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing SEC Guidance provided to the Company within five (5) days thereafter. The Company shall use its best efforts or to have registrants of securities in general, one or more registration statements on Form S-3 or such Required other form available to register for resale those Registrable Securities that were not registered for resale on the Initial Registration Statement, and each other as amended, or the New Registration Statement required to be filed pursuant to (the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the HolderRemainder Registration Statements”).

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder Holders at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 F-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the HolderHolders, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder Holders unless such other Holder Holders shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best commercially reasonable efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holder.

Mandatory Registration. Solely in 2.1 The Company shall be required to file the event there is not then a current registration statement concerning the resale Initial Registration Statement and any other Registration Statement required by Section 2.3 on or prior to each Filing Date until all of the Registrable SecuritiesSecurities are registered for resale by the Holders as selling stockholders thereunder. On or prior to each Filing Date, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering for the purpose of registering under the Securities Act the resale of all of the Registrable Securities has been declared effective by by, and for the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holderaccount of, the Company shall give notice to the other Holders of the Purchase Warrants advising as selling stockholders thereunder, that the Company is proceeding with such registration statement and are not then registered on an effective Registration Statement for an offering to include therein Purchase Warrants of such be made on a continuous basis pursuant to Rule 415. No other Holders. The Company securities shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice included in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Initial Registration Statement required to be that is filed pursuant except for the Registrable Securities. Subject to the terms of this Purchase WarrantAgreement, the Company shall cause a Registration Statement to be declared effective by under the SEC Securities Act as promptly as possible after the filing thereof, but in any event on or prior to the applicable Effectiveness Date. 2.2 The Company shall be required to keep a Registration Statement effective until such date that is the earlier of (the “Effectiveness Period”) (i) the date as of which all of the Holders may sell all of the Registrable Securities registered for resale thereon without volume or manner of sale restrictions pursuant to Rule 144 or (ii) the date when all of the Registrable Securities registered thereunder shall have been sold (such date is referred to herein as the “Mandatory Registration Termination Date”). Thereafter, the Company shall be entitled to withdraw such Registration Statement and the Holders shall have no further right to offer or sell any of the Registrable Securities registered for resale thereon pursuant to the respective Registration Statement (or any prospectus relating thereto). 2.3 If during the Effectiveness Period, subject to Sections 2.1and 2.3, the Company becomes aware that the number of Registrable Securities at any time exceeds the number of Registrable Securities then registered for resale in a Registration Statement, then the Company shall file as soon as practicable. The Company shall pay reasonably practicable an additional Registration Statement covering the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested resale by the HolderHolders of not less than the number of such Registrable Securities that are not then registered.

Mandatory Registration. Solely in (a) Within thirty (30) days after the event there Closing (or, if the date that is thirty (30) days after the Closing is not then a current registration statement concerning business day, the resale of the Registrable Securitiesnext business day immediately following such date), the Company shall will prepare and file with the SEC a registration statement on one occasion at its sole expenseForm S-3 or any successor form (except that if the Company is not then eligible to register for resale the Registrable Securities on Form S-3, upon then such registration shall be on Form S-1 or any successor form) for the written notice purpose of registering under the Securities Act all of the Holder at any time commencing six (6) months after Registrable Securities for resale by, and for the date that this Warrant becomes exercisable and on or before account of, the fifth anniversary date of the Effective Date, a required registration statement Holders as selling stockholders thereunder (the “Required "Registration Statement”) concerning "). The Registration Statement shall permit the resale of Holders to offer and sell, on a delayed or continuous basis pursuant to Rule 415 under the Securities Act, any or all of the Registrable Securities. The Required Company agrees to use commercially reasonable efforts to cause the Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 become effective as soon as such form is available, provided that practicable (which shall include using commercially reasonable efforts to respond to any comments of the Company shall maintain SEC in respect of the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten within fifteen (1015) business days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafterfollowing receipt thereof). The Company shall use its best efforts to keep the Registration Statement effective until such date that is the earlier of (i) the date when all of the Registrable Securities registered thereunder shall have been sold or (ii) two (2) years after the Closing, subject to extension as set forth below (such Required date is referred to herein as the "Mandatory Registration Termination Date"). Thereafter, the Company shall be entitled to withdraw the Registration Statement and the Holders shall have no further right to offer or sell any of the Registrable Securities pursuant to the Registration Statement (or any prospectus relating thereto). In the event the right of the selling Holders to use the Registration Statement (and the prospectus relating thereto) is delayed or suspended pursuant to Sections 4(c) or 10 hereof, if the events described in subsection (a)(i) or (ii) have not yet occurred, the Company shall be required to extend the Mandatory Registration Termination Date by the same number of days as such delay or Suspension Period (as defined in Section 10 hereof), provided that such delay is not the result of the Holders' failure or delay to furnish information required under Section 5 hereof. (b) In the event that the Registration Statement is not filed with the SEC within thirty (30) days after the Closing (or, if the date that is thirty (30) days after the Closing is not a business day, the next business day immediately following such date), or the Company fails to use its commercially reasonable efforts to respond to any comments of the SEC in respect of the Registration Statement within fifteen (15) business days following receipt thereof, the Company will issue to all Investors, for no additional consideration, an additional 1.0% of the Shares sold to each such Investor. For every additional thirty (30) days that the Company continues to be delayed from filing the Registration Statement with the SEC or continues to fail to use its commercially reasonable efforts to respond to any comments of the SEC in respect of the Registration Statement, and the Company will issue to all Investors, for no additional consideration, an additional 1.0% of the Shares sold to each other such Investor; provided, however, that in no event shall the amount of additional shares issued by the Company to the Investors pursuant to this Section 3(b) exceed a maximum of an additional 3.0% of the Shares sold to each such Investor. (c) Within three (3) business days after a Registration Statement required that covers applicable Registrable Securities is declared effective by the SEC, the Company shall deliver, or shall cause legal counsel to be filed pursuant deliver, to the terms of this Purchase Warrant, transfer agent for such Registrable Securities (with copies to the Holders whose Registrable Securities are included in such Registration Statement) confirmation that such Registration Statement has been declared effective by the SEC in substantially the form attached hereto as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holder.Exhibit B.

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable Effective Date and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 F-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holder.

Mandatory Registration. Solely in (a) On or prior to the event there is not then a current registration statement concerning the resale of the Registrable SecuritiesFiling Date, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon Commission the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for usean offering to be made on a continuous basis pursuant to Rule 415. Within ten The Registration Statement required hereunder shall be on Form SB-2 (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that except if the Company is proceeding with such registration statement and offering not then eligible to include therein Purchase Warrants of such other register for resale the Registrable Securities on Form SB-2, in which case the Registration shall be on another appropriate form in accordance herewith). The Registration Statement required hereunder shall contain (except if otherwise directed by the Holders. ) the "PLAN OF DISTRIBUTION" attached hereto as ANNEX A. The Company shall not be obligated cause --------------------- ------- the Registration Statement to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafterbecome effective and remain effective as provided herein. The Company shall use its best commercially reasonable efforts to cause the Registration Statement to be declared effective under the Securities Act as promptly as possible after the filing thereof and shall use its commercially reasonable efforts to keep the Registration Statement continuously effective under the Securities Act until the date when all Registrable Securities covered by the Registration Statement (a) have been sold pursuant to the Registration Statement or an exemption from the registration requirements of the Securities Act or (b) may be sold without volume restrictions pursuant to Rule 144(k) as determined by the counsel to the Company pursuant to a written opinion letter to such Required effect, addressed and acceptable to the Company's transfer agent and the affected Holders (the "EFFECTIVENESS PERIOD"). --------------------- (b) If a Registration StatementStatement is not filed on or prior to sixty (60) days from the Escrow Date, then in addition to any other rights the Holders may have hereunder or under applicable law, the Company shall pay to each Holder an amount in cash until the date a Registration Statement is filed, as liquidated damages and not as a penalty, equal to (i) one (1%) percent of the aggregate purchase price paid by such Holder pursuant to the Purchase Agreement for the first thirty (30) days or any part thereof, and each other thirty (30) day period subsequent thereto, such payment(s) to be made within seven (7) days after the initial date of each such failure to file. (c) If (1) a Registration Statement required is not declared effective on or prior to one hundred twenty (120) days from the Escrow Date, or (2) a Registration Statement has been declared effective and subsequent thereto is not effective (or does not permit the resale of the Registrable Securities thereby) for a period of more than thirty (30) days consecutively until the Shares may be filed sold pursuant to Rule 144(k) (an "EFFECTIVENESS DEFAULT"), then in addition to any --------------------- other rights the Holders may have hereunder or under applicable law, the Company shall pay to each Holder an amount in cash until the date a Registration Statement is declared effective and/or the Registrable Securities may be sold pursuant to Rule 144(k) pursuant to subprovision (1) above, or if previously declared effective then in the situation covered by subprovision (2) above until the date the Registration Statement becomes effective again or otherwise permits the resale of the Registrable Securities covered thereby, as liquidated damages and not as a penalty, equal to one (1%) percent of the aggregate purchase price paid by such Holder pursuant to the terms of this Purchase Warrant, declared effective by Agreement for the SEC as soon as practicable. The Company shall pay the costs and expenses first thirty (30) days or any part thereof, and for one time onlyeach thirty (30) day period subsequent thereto, which costs and expenses shall include “Blue Sky” fees for counsel for such payment(s) to be made within seven (7) days after the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holderdate of each such Effectiveness Default.

Mandatory Registration. Solely in No later than 90 days after the event there is not then a current registration statement concerning the resale of the Registrable SecuritiesClosing Date, the Company shall will prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement on Form S-3 (or, if Form S-3 is not then available to the “Required Registration Statement”Company, on such form of registration statement that is then available to effect a registration of all Registrable Shares) concerning for the resale purpose of registering under the Securities Act all of the Registrable SecuritiesShares for resale by, and for the account of, the Holders as selling stockholders thereunder (the "Registration Statement"). The Required Registration Statement shall permit the Holders 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. Such Registration Statement also shall cover, to the extent allowable under the Securities Act and the rules promulgated thereunder (including Rule 416), such indeterminate number of additional shares of Common Stock resulting from stock splits, stock dividends or similar transactions with respect to the Registrable Shares. The Company agrees to use commercially reasonable efforts to cause the Registration Statement to become effective as soon as practicable after filing, but in no event later than 180 days after filing. The Company shall be on Form F-3 if available for required to keep the Registration Statement, as amended, effective until such a date that is the earlier of (i) two years after the Closing Date, (ii) the date when all of the Registrable Shares registered thereunder shall have been sold, or (iii) such time as all the Registrable Shares held by the Holders can be sold pursuant to Rule 144(k) and without compliance with the registration and if unavailablerequirements of the Securities Act (such date is referred to herein as the "Mandatory Registration Termination Date"). Thereafter, the Company shall register be entitled to withdraw the resale Registration Statement and the Holders shall have no further right to offer or sell any of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable Shares pursuant to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the (or any prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holdersrelating thereto). The Company shall not be obligated to grant any such other Holder unless such other Holder shall accept such offer by notice in writing registration rights that are pari passu with or senior to the Company within five (5) days thereafterregistration rights of the Holders under this Agreement if such registration rights would adversely affect the Holders' ability to sell Registrable Shares pursuant to the Registration Statement. The Company shall use its best efforts represents that no stockholders other than the Holders have the right to have such Required Registration Statement, and each sell any Common Stock or other Registration Statement required to be filed securities of the Company pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the HolderRegistration Statement.

Mandatory Registration. Solely in (a) As soon as possible following the event there is Closing Date (but not then a current registration statement concerning later than the resale of the Registrable SecuritiesFiling Date), the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, Commission a required registration statement (the “Required Shelf” Registration Statement”) concerning Statement covering the resale of fifty percent (50%) of all of the Registrable SecuritiesSecurities for an offering to be made on a continuous basis pursuant to Rule 415. The Required Such Registration Statement shall be on Form F-3 SB-2 (except if available for such a registration and if unavailable, the Company shall is not then eligible to register the for resale of the Registrable Securities on Form S-1 or SB-2, in which case such registration shall be on another appropriate form reasonably acceptable in accordance herewith to which the Holder Holders consent, which consent may not be unreasonably withheld), and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective contain (except if otherwise directed by the SEC and Holders) the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders “Plan of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. Distribution” attached hereto as Annex A. The Company shall use its best efforts to have cause such Required Registration StatementStatement to be declared effective under the Securities Act as promptly as possible after the filing thereof, and each other in any event prior to the Required Effectiveness Date (including filing with the Commission a request for acceleration of effectiveness in accordance with Rule 461 within three (3) days of the date that the Company is notified (orally or in writing, whichever is earlier) by the Commission that a Registration Statement will not be “reviewed,” or will not be subject to further review) and shall use its best efforts to keep such Registration Statement continuously effective during the Effectiveness Period. The Company shall notify each Holder in writing promptly (and in any event within one business day) after receiving notification from the Commission that a Registration Statement has been declared effective. For purposes of the obligations of the Company under this Agreement, no Registration Statement shall be considered “effective” with respect to any Registrable Securities unless such Registration Statement lists the Holders of such Registrable Securities as “Selling Stockholders” and includes such other information as is required to be filed disclosed with respect to such Holders to permit them to sell their Registrable Securities pursuant to such Registration Statement. Such Registration Statement also shall cover, to the extent allowable under the Securities Act and the rules promulgated thereunder (including Rule 416), such indeterminate number of additional shares of Common Stock resulting from stock splits, stock dividends or similar transactions with respect to the Registrable Securities. (b) Upon the occurrence of any Event (as defined below) and on every monthly anniversary thereof until the earlier of the date the applicable Event is cured or the first anniversary of the occurrence of the Event, as partial relief for the damages suffered therefrom by the Holders (which remedy shall not be exclusive of any other remedies available at law or in equity), the Company shall pay to each Holder an amount in cash, as liquidated damages and not as a penalty, equal to 2.0% of the Nominal Value of the Registrable Securities held by such Holder. The liquidated damages payable pursuant to the terms hereof (i) shall not apply to the extent, but only to the extent, that the shares of this Purchase WarrantCommon Stock required to be included in the applicable Registration Statement are not otherwise available to be sold as a result of the restrictions contained in Section 8 hereof, and (ii) shall apply on a pro-rata basis for any portion of a month prior to the cure of an Event. For such purposes, each of the following shall constitute an “Event”: (w) a Registration Statement is not filed on or prior to the applicable Filing Date or is not declared effective on or prior to the applicable Required Effectiveness Date; (x) after the Effective Date for a Registration Statement, if the Company is not eligible to use Form S-3 under the Securities Act (or similar or successor form) at such time, a Holder is not permitted to sell Registrable Securities under such Registration Statement (or a subsequent Registration Statement filed in replacement thereof) for any reason for five (5) or more consecutive Trading Days or an aggregate of twenty (20) or more Trading Days in any 12- month period; (y) after the Effective Date for a Registration Statement, if the Company is eligible to use Form S-3 under the Securities Act (or similar or successor form) at such time, a Holder is not permitted to sell Registrable Securities under such Registration Statement (or a subsequent Registration Statement filed in replacement thereof) for any reason for five or more Trading Days (whether or not consecutive); or (z) at any time after the Common Stock is first listed or quoted on an Eligible Market, the Common Stock is not listed or quoted, or is suspended from trading, on an Eligible Market for a period of five Trading Days (which need not be consecutive Trading Days). (c) At the election of any Holder, any amount required to be paid by the SEC as soon as practicableCompany to such Holder pursuant to Section 2(b) may instead be added to the Stated Value of the outstanding Preferred Stock then owned by such Holder. The A Holder may make such election by delivering written notice to the Company shall pay the costs and expenses thereof, for one at any time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested before such cash payment is received by the such Holder.

Mandatory Registration. Solely in (a) The Company shall file an Initial Registration Statement on or prior to the event there is not then a current registration statement concerning the resale of Filing Date registering the Registrable SecuritiesSecurities for resale by the Holders as selling stockholders thereunder. On or prior to the Filing Date, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon an Initial Registration Statement for the written notice purpose of registering under the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning Securities Act the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for all, or such a registration portion as permitted by SEC Guidance (and if unavailable, the Company shall register use its best efforts to advocate with the resale SEC for the registration of all or the maximum number of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale as permitted by SEC Guidance) of the Registrable Securities by, and for the account of, the Holders as selling stockholders thereunder, that are not then registered on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a an effective Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and an offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated made on a continuous basis pursuant to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafterRule 415. The Company shall use its best efforts to have such Required Registration Statement, and each other cause the Initial Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC under the Securities Act as soon promptly as practicablepracticable after the filing thereof, but in any event on or prior to the applicable Effectiveness Deadline. (b) The Company shall be required to keep the Initial Registration Statement current and effective until such date that is the earlier of (the “Effectiveness Period”) (i) the date as of which all of the Holders as selling stockholders thereunder may sell all of the Registrable Securities registered for resale thereon without restriction pursuant to Rule 144, or (ii) the date when all of the Registrable Securities registered thereunder shall have been sold (such date is referred to herein as the “Mandatory Registration Termination Date”), or (iii) three (3) years from the effective date of the Initial Registration Statement. Thereafter, the Company shall be entitled to withdraw such Registration Statement and the Holders shall have no further right to offer or sell any of the Registrable Securities registered for resale thereon pursuant to the respective Registration Statement (or any prospectus relating thereto). (c) Notwithstanding any other provision of this Agreement, if any SEC Guidance sets forth a limitation on the number of Registrable Securities to be registered in the Initial Registration Statement (and the Company has used its best efforts to advocate with the SEC for the registration of all or the maximum number of Registrable Securities), the number of Registrable Securities to be registered on such Registration Statement will be reduced on a pro rata basis among the Purchasers based on the total number of unregistered Shares held by such Purchasers on a fully diluted basis. The Company shall pay file a new registration statement as soon as reasonably practicable covering the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested resale by the HolderHolders of not less than the number of such Registrable Securities that are not registered in the Initial Registration Statement. The Company shall not be liable for liquidated damages under Section 3(a) as to any Registrable Securities which are not permitted by the SEC to be included in a Registration Statement due solely to SEC Guidance from time to time. In such case, any liquidated damages payable under Section 3(a) shall be calculated to apply only to the percentage of Registrable Securities which are permitted in accordance with SEC Guidance to be included in such Registration Statement. (d) If during the Effectiveness Period, the Company becomes aware that the number of Registrable Securities at any time exceeds the number of Registrable Securities then registered for resale in a Registration Statement, then the Company shall file as soon as reasonably practicable an additional Registration Statement covering the resale by the Holders of not less than the number of such Registrable Securities that are not then registered.

Mandatory Registration. Solely in (a) On or prior to the event there is not then a current registration statement concerning the resale of the Registrable SecuritiesFiling Deadline, the Company shall shall, following the written request of either (x) Castle Creek or (y) the Registration Rights Purchasers then holding at least a majority of the Shares then held by Registration Rights Purchasers, prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as Commission a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been not already covered by an existing and effective Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415 or, if Rule 415 is not available for offers and sales of the Registrable Securities, by such other means of distribution of Registrable Securities as the Company may reasonably determine (the “Initial Registration Statement”). Notwithstanding the registration obligations set forth in this Section 2, in the event that the Company’s counsel determines that all such Registrable Securities cannot, as a result of the application of Rule 415, be registered for resale as a secondary offering on a single registration statement prior to filing the Initial Registration Statement, or the Commission informs the Company that all such Registrable Securities cannot, as a result of the application of Rule 415, be registered for resale as a secondary offering on a single registration statement, the Company agrees to promptly inform each of the Holders thereof and, as applicable, file the Initial Registration Statement, or use reasonable and customary efforts to file amendments to the Initial Registration Statement as required by the Commission and/or withdraw the Initial Registration Statement and file a new registration statement (a “New Registration Statement”), in each case covering the maximum number of such Registrable Securities permitted to be registered thereon, on such form available to the Company to register for resale the Registrable Securities as a secondary offering. Notwithstanding any other provision of this Agreement, if the opinion of the Company’s counsel or any SEC Guidance sets forth a limitation of the number of Registrable Securities permitted to be registered on a particular Registration Statement as a secondary offering, the number of Registrable Securities to be registered on such Registration Statement will be reduced pro rata on the basis of the aggregate number of Registrable Securities owned by each applicable Holder, and under such circumstances, the Company will not be subject to the payment of Liquidated Damages in Section 2(c). In the event the Company amends the Initial Registration Statement or files a New Registration Statement, as the case may be, under clauses (A) or (B) above, the Company will use reasonable and customary efforts to file with the Commission, as promptly as allowed by Commission or SEC Guidance provided to the Company or to registrants of securities in general, one or more registration statements on such form available to the Company to register for resale those Registrable Securities that were not registered for resale on the Initial Registration Statement, as amended, or the New Registration Statement (the “Remainder Registration Statements”). No Holder shall be named as an “underwriter” in any Registration Statement without such ▇▇▇▇▇▇’s prior written consent. (b) The Company shall use reasonable and customary efforts to cause each Required Registration Statement to be declared effective by the SEC Commission as soon as practicable, and, with respect to the Initial Registration Statement or the New Registration Statement, as applicable, no later than the Effectiveness Deadline, and shall use reasonable and customary efforts to keep each Required Registration Statement continuously effective under the prospectus contained Securities Act until the earlier of such time as all of the Registrable Securities covered by such Required Registration Statement have been sold by the Holders; the date that all Registrable Securities covered by such Required Registration Statement may be sold by the Holders without volume or manner of sale restrictions under Rule 144, as determined by counsel to the Company pursuant to a written opinion letter to such effect, addressed and reasonably acceptable to the Company’s transfer agent; (iii) the date such Registrable Securities have ceased to be outstanding; or (iv) the date such Registrable Securities are sold in a transaction in which the applicable rights under this Agreement are not assigned pursuant to Section 8(k) (such time period, the “Effectiveness Period”). The Company shall request effectiveness of a Required Registration Statement as of 4:00 p.m., Philadelphia time, on a Trading Day. The Company shall promptly notify the Holders via facsimile or electronic mail of a “.pdf” format data file of the effectiveness of a Registration Statement within one (1) Business Day of the Effective Date, unless already available on the Commission’s ▇▇▇▇▇ site or successor system. The Company shall file a final Prospectus for a Required Registration Statement with the Commission, as required by Rule 424(b) as promptly as reasonably practicable following the Effective Date. (c) If: (i) the Initial Registration Statement is not filed with the Commission on or prior to the Filing Deadline, (ii) the Initial Registration Statement or the New Registration Statement, as applicable, is not declared effective by the Commission (or otherwise does not become effective) for any reason on or prior to the Effectiveness Deadline, or (iii) after its Effective Date, (A) such Registration Statement ceases to be effective for any reason (including without limitation by reason of a stop order, or the Company’s failure to update the Registration Statement), to remain continuously effective as to all Registrable Securities for which it is required to be effective, or (B) the Holders are not permitted to utilize the Prospectus therein to resell such Registrable Securities (other than during an Allowable Grace Period), (iv) a Grace Period applicable to a Required Registration Statement exceeds the length of an Allowable Grace Period, or (v) after the Filing Deadline, and only in the event a Registration Statement is not effective or available to sell all Registrable Securities, the Holders are unable to sell Registrable Securities without restriction under Rule 144, (any such failure or breach in clauses (i) through (v) above being referred to as an “Event,” and, for usepurposes of clauses (i), (ii), (iii) or (v), the date on which such Event occurs, or for purposes of clause (iv) the date on which such Allowable Grace Period is exceeded, being referred to as an “Event Date”), then in addition to any other rights the Holders may have hereunder or under applicable law, on the first such Event Date, the Company shall pay to each Holder an amount in cash, as liquidated damages and not as a penalty (“Liquidated Damages”), equal to 5.0% of the aggregate purchase price paid by such Holder pursuant to the Purchase Agreement for any Registrable Securities held by such Holder on the Event Date. Within The parties agree that notwithstanding anything to the contrary herein or in the Purchase Agreement, no Liquidated Damages shall be payable (i) if as of the relevant Event Date, the Registrable Securities may be sold by the Holders without volume or manner of sale restrictions under Rule 144, as determined by counsel to the Company pursuant to a written opinion letter to such effect, addressed and reasonably acceptable to the Company’s transfer agent, (ii) to a Holder causing an Event that relates to or is caused by any action or inaction taken by such Holder, (iii) to a Holder in the event it is unable to lawfully sell any of its Registrable Securities (including, without limitation, in the event a Grace Period exceeds the length of an Allowable Grace Period) because of possession of material non-public information or (iv) with respect to any period after the expiration of the Effectiveness Period (it being understood that this clause shall not relieve the Company of any Liquidated Damages accruing prior to the expiration of the Effectiveness Period). If the Company fails to pay any Liquidated Damages pursuant to this Section 2(c) in full within ten (10) days Business Days after receiving written notice from the date payable, the Company will pay interest on the amount of Liquidated Damages then owing to the Holder at a rate of 0.5% per month on an annualized basis (or such lesser maximum amount that is permitted to be paid by applicable law) to the Holder, accruing daily from the date such Liquidated Damages are due until such amounts, plus all such interest thereon, are paid in full. With respect to a Holder, the Effectiveness Deadline for a Required Registration Statement shall be extended without default or Liquidated Damages hereunder in the event that the Company’s failure to obtain the effectiveness of the Registration Statement on a timely basis results from the failure of such Holder to timely provide the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions information requested by the HolderCompany and necessary to complete the Registration Statement in accordance with the requirements of the Securities Act (in which case the Effectiveness Deadline would be extended with respect to Registrable Securities held by such Registration Rights Purchaser).

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the The Company shall prepare and and, as soon as practicable, but in no event later than the Filing Deadline, file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required an Initial Registration Statement shall be on Form F-3 S-3 (except if available for such a registration and if unavailable, the Company shall is then ineligible to register the for resale of the Registrable Securities on Form S-1 or another appropriate S-3, in which case such registration shall be on such other form reasonably acceptable to the Holder and undertake available to register the for resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 secondary offering) covering the resale of all of the Registrable Securities has been declared effective by (the SEC and the prospectus contained therein is available for use“Initial Registration Statement”). Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Such Initial Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase WarrantAgreement, shall contain (except if otherwise required pursuant to written comments received from the SEC upon a review of such Registration Statement) the “Plan of Distribution” section in substantially the form attached hereto as Exhibit C (which may be modified to respond to comments, if any, provided by the SEC or to reflect any non-material changes). The Company shall use its best efforts to have such Initial Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Agreement, declared effective by the SEC as soon as practicable, but in no event later than the applicable Effectiveness Deadline for such Registration Statement. The Notwithstanding the registration obligations set forth in this Section 2(a), if the staff of the SEC (the “Staff”) or the SEC informs the Company shall pay that all of the costs unregistered Registrable Securities cannot, as a result of the application of Rule 415, be registered for resale as a secondary offering on a single Registration Statement, the Company agrees to promptly (i) inform each of the holders thereof and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for use its commercially reasonable efforts to file amendments to the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested Initial Registration Statement as required by the HolderSEC and/or (ii) withdraw the Initial Registration Statement and file a new registration statement (the “New Registration Statement”), in either case covering the maximum number of Registrable Securities permitted to be registered by the SEC, on Form S-3 or such other form available to register for resale the Registrable Securities as a secondary offering. Notwithstanding any other provision of this Agreement if applicable, if the Staff or SEC sets forth a limitation of the number of Registrable Securities permitted to be registered on a particular Registration Statement as a secondary offering, unless otherwise directed in writing by an Investor as to its Registrable Securities, the number of Registrable Securities to be registered on such Registration Statement will first be reduced by Registrable Securities represented by holders of Warrant Shares (applied, in the case that some Warrant Shares may be registered, to the Investors on a pro rata basis based on the total number of unregistered Warrant Shares held by such Investors) and second by Registrable Securities represented by Convertible Shares (applied, in the case that some Convertible Shares may be registered, to the Investors on a pro rata basis based on the total number of unregistered Convertible Shares held by such Investors, subject to a determination by the Staff or SEC that certain Investors must be reduced first based on the number of Convertible Shares held by such Investors). If the Company amends the Initial Registration Statement or files a New Registration Statement, as the case may be, under clauses (i) or (ii) above, the Company will use its commercially reasonable efforts to file with the SEC, as promptly as allowed by the Staff or SEC, one or more registration statements on Form S-3 or such other form available to register for resale those Registrable Securities that were not registered for resale on the Initial Registration Statement, as amended, or the New Registration Statement (each, an “Additional Registration Statement”).

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the The Company shall prepare and file with the SEC on one occasion at as soon as reasonably possible, but in no event later than five Business Days after filing its sole expenseForm 10-K for the year ended December 31, upon 2002 (the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective "Filing Date"), a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 S-3 (except if available for such a registration and if unavailable, the Company shall is not then eligible to register the for resale of the Registrable Securities on Form S-1 or S-3, in which case such registration shall be on another appropriate form reasonably acceptable in accordance with the Securities Act and the rules promulgated thereunder necessary to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness effect a registration of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering Registrable Securities) for the resale purpose of registering under the Securities Act all of the Registrable Securities has been declared effective for resale by the Holders as selling stockholders thereunder, and shall use its best efforts to cause the SEC and to declare such Registration Statement effective under the prospectus contained therein is available for use. Within ten (10) Securities Act as promptly as practicable, but not later than 120 days after receiving written notice from the Holder, the Company shall give notice to the other Holders of Closing (as defined in the Purchase Warrants advising that Agreement) (the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders"Effectiveness Deadline"). The Company shall not be obligated have the right to permit any such other Holder unless such other Holder shall accept such offer by notice securities, in writing addition to the Registrable Securities, to be included in the Registration Statement. The Company shall use its reasonable best efforts to cause the Registration Statement to be declared effective under the Securities Act (including filing with the SEC a request for acceleration of effectiveness in accordance with Rule 12dl-2 promulgated under the Exchange Act within five (5) days thereafterBusiness Days of the date that the Company is notified (orally or in writing, whichever is earlier) by the SEC that a Registration Statement will not be "reviewed," or not be subject to further review) as soon as possible after the filing thereof. The Company shall keep such Registration Statement continuously effective under the Securities Act at all times until the earlier of the date (A) on which all the Registrable Securities have been sold, or (B) on which all the Registrable Securities can be sold by all the Holders (and any affiliate of the Holder with whom such Holder must aggregate its sales under Rule 144) in any three-month period without volume limitation and without registration in compliance with Rule 144 (the "Effectiveness Period"). If the initial Registration Statement or any subsequent Registration Statement ceases to be effective for any reason as a result of the issuance of a stop order by the SEC at any time during the Effectiveness Period, the Company shall use its best efforts to have such Required Registration Statementobtain the prompt withdrawal of any order suspending the effectiveness thereof, and each other in any event shall within 30 Business Days of such cessation of effectiveness amend such Registration Statement required in a manner reasonably expected to obtain the withdrawal of the order suspending the effectiveness thereof, or file an additional Registration Statement covering all of the Registrable Securities. If such an additional Registration Statement is filed, the Company shall use its best efforts to cause such additional Registration Statement to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay practicable after such filing and to keep such additional Registration Statement continuously effective until the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for end of the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the HolderEffectiveness Period.

Mandatory Registration. Solely in 3.1. Within thirty (30) calendar days after the event there is not then a current registration statement concerning the resale of the Registrable SecuritiesClosing Date, the Company shall will prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (on Form S-3, or any other available form if the “Required Registration Statement”) concerning Company is not eligible to use Form S-3, for the resale purpose of registering under the Securities Act all of the Registrable SecuritiesShares for resale by, and for the account of, the Holders as selling stockholders thereunder (the “Registration Statement”). The Required Registration Statement shall permit the Holders 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 commercially reasonable efforts to cause the Registration Statement to become effective as soon as practicable after the filing thereof, and in no event later than ninety (90) calendar days following the Closing Date. The Registration Statement filed pursuant to this Section 3.1 (and each amendment or supplement thereto, and each request for acceleration of effectiveness thereof) shall be on Form F-3 if available for provided to each Holder and its counsel prior to its filing or other submission. 3.2. The Company shall be required to keep the Registration Statement effective until such a registration and if unavailabledate that is the earlier of (i) the date as of which all of the Holders may sell all of the Registrable Shares to the public without restriction pursuant to Rule 144(b)(1) (or the successor rule thereto) promulgated under the Securities Act, (ii) the date when all of the Registrable Shares registered thereunder shall have been sold pursuant to the Registration Statement or Rule 144, or (iii) the one-year anniversary of the Closing Date (such date is referred to herein as the “Mandatory Registration Termination Date”). Thereafter, the Company shall register be entitled to withdraw the resale Registration Statement and the Holders shall have no further right to offer or sell any of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable Shares pursuant to the Holder Registration Statement (or any prospectus relating thereto). The offer and undertake to register the resale sale of the Registrable Securities on Form F-3 as soon as such form is available, provided that Shares pursuant to the Registration Statement shall not be underwritten. 3.3. The Company shall maintain not, and shall not agree to, allow the effectiveness holders of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering any securities of the resale of all Company, other than holders of the Registrable Securities has been declared effective by Shares, to include any of their securities in the SEC and Registration Statement under Section 3.1 hereof or any amendment or supplement thereto without the prospectus contained therein is available for useconsent of the Holders. Within ten (10) days after receiving written notice from the HolderIn addition, the Company shall give notice to not offer any securities for its own account or the other Holders account of others in the Registration Statement under Section 3.1 hereof or any amendment or supplement thereto without the consent of the Purchase Warrants advising Holders; provided, however, that the Company is proceeding with such at all times reserves the right to provide registration statement and offering rights, pursuant to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing a separate registration statement, to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to holders of any securities of the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the HolderCompany.

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6a) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have prepare, and, as soon as practicable, but in no event later than the applicable Filing Deadline, file with the SEC a Registration Statement on Form S-3 covering the resale of all of the New Registrable Securities and the issuance of the Initial Warrant Shares to be acquired upon exercise of the Initial Warrants. In the event that Form S-3 is unavailable for such Required a registration, the Company shall use such other form as is available for such a registration that is reasonably acceptable to Durus. The Registration Statement prepared pursuant hereto shall register for resale 10,000,000 shares of Common Stock and all of the Initial Warrants, and shall register the issuance of 5,000,000 shares of Common Stock upon exercise of the Initial Warrants. The Registration Statement, to the extent allowable under the 1933 Act and each other the rules and regulations promulgated thereunder (including Rule 416), shall state that such Registration Statement required to be filed also covers such indeterminate number of additional shares of Common Stock as may become issuable upon conversion of or otherwise pursuant to the terms Initial Preferred Shares and exercise of this Purchase Warrantthe Initial Warrants to prevent dilution resulting from stock splits, stock dividends or similar transactions. The Company shall use its reasonable best efforts to have the Registration Statement declared effective by the SEC as soon as practicable, but in no event later than the respective Effectiveness Deadline. (b) In the event of any Subsequent Closings, the Company shall use its best efforts to prepare, and, as soon as practicable thereafter, but in no event later than the applicable Filing Deadline, file with the SEC a Registration Statement on Form S-3 covering the resale of all the Additional Registrable Securities relating to each such Subsequent Closing and the issuance of the Additional Warrant Shares to be acquired upon exercise of the Additional Warrants issued at each such Subsequent Closing. In the event that Form S-3 is unavailable for such a registration, the Company shall use such other form as is available for such a registration that is reasonably acceptable to Durus. The Registration Statement, to the extent allowable under the 1933 Act and the rules and regulations promulgated thereunder (including Rule 416), shall state that such Registration Statement also covers such indeterminate number of additional shares of Common Stock as may become issuable upon conversion of or otherwise pursuant to the Additional Preferred Shares and exercise of the Additional Warrants to prevent dilution resulting from stock splits, stock dividends or similar transactions. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees use its reasonable best efforts to qualify the Purchase Warrants in those jurisdictions requested have each such Registration Statement declared effective by the HolderSEC as soon as practicable after each such Subsequent Closing, but in no event later than the applicable Effectiveness Deadline. (c) In the event of the issuance of Note Shares, the Company shall use its best efforts to prepare, and, as soon as practicable thereafter, but in no event later than the applicable Filing Deadline, file with the SEC a Registration Statement on Form S-3 covering the resale of all of the Note Shares. In the event that Form S-3 is unavailable for such a registration, the Company shall use such other form as is available for such a registration that is reasonably acceptable to holders of a majority in interest of the Note Shares. The Registration Statement prepared pursuant hereto shall register for resale all of the Note Shares. The Company shall use its reasonable best efforts to have such Registration Statement declared effective by the SEC as soon as practicable after the issuance of the Note Shares, but in no event later than the applicable Effectiveness Deadline. (d) In the event that Durus distributes or otherwise transfers any of its Registrable Securities to its investors or members, the Company shall use its best efforts to prepare, and, as soon as practicable, file with the SEC a Registration Statement on Form S-3 covering the resale of all of such Registrable Securities by such investors or members upon the written request of Durus. In the event that Form S-3 is unavailable for such a registration, the Company shall use such other form as is available for such a registration that is reasonably acceptable to a majority of such investors or members. The Company shall not be required to effect a registration pursuant to this Section 2.1(d) if (i) the Company has previously effected two (2) registrations pursuant to this Section 2.1(d), and such registrations have been declared or ordered effective, or (ii) the Company receives such written request from Durus more than five (5) years after the date hereof.

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after on the date that this Warrant becomes exercisable and on or before the fifth anniversary date of until five (5) years from the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 S-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 S-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 S-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of this series of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holder.

Mandatory Registration. Solely in (i) The Company shall use its reasonable best efforts to file by the event there is not then 45th day following the Closing (such date, the “Filing Deadline”), with the SEC, a current registration statement concerning on Form S-1 or such other SEC form which the Company is eligible to use with respect to the resale from time to time, whether underwritten or otherwise, of the Registrable Securities by the Holders. The Company shall use Form S-3, if it is then eligible to use Form S3. The Company shall use its reasonable best efforts to promptly respond to all SEC comments, if any, related to such registration statement but in any event within two (2) weeks of the receipt thereof, and shall use its reasonable best efforts to obtain all such qualifications and compliances as may be so requested and as would permit or facilitate the sale and distribution of all of the Holders’ Registrable Securities, including causing such registration statement to be declared effective by the SEC as soon as practicable after filing and no later than the Effectiveness Deadline. The Company shall use its reasonable best efforts to maintain the effectiveness of the registration effected pursuant to this Section 2.1(b) at all times. The registration contemplated by this Section 2.1(b) is referred to herein as the “Mandatory Registration.” The Mandatory Registration shall be filed with the SEC in accordance with and pursuant to Rule 415 promulgated under the Securities Act (or any successor rule then in effect) (a “Shelf Registration”). So long as any such Shelf Registration is effective as required herein and in compliance with the Securities Act and is usable for resale of Registrable Securities, the Holders shall be entitled to demand any number of takedowns (including underwritten takedowns) provided that (i) the Registrable Securities requested to be included in such underwritten takedown constitute at least 25% of the Registrable Securities then outstanding or (ii) the anticipated aggregate offering price based on the then-current market prices, net of underwriting discounts and commissions, would exceed $2,500,000 from the Shelf Registration. In connection with any such takedown, the Company shall prepare take all customary and file reasonable actions that the Company would take in connection with an underwritten registration pursuant to Section 2.1(a) or Section 2.3 (including, without limitation, all actions referred to in Section 2.5 necessary to effectuate such sale in the SEC on one occasion manner determined by the Holders of at its sole expense, upon the written notice least a majority of the Holder at any time commencing six Registrable Securities to be included in such underwritten takedown). The Company shall use its reasonable best efforts to cause the registration statement or statements filed hereunder to remain effective until such date (6the “Shelf Termination Date”) months after that is the earlier of (i) the date on which all Registrable Securities included in the registration statement shall have been sold or shall have otherwise ceased to be Registrable Securities and (ii) the date that this Warrant becomes exercisable all Registrable Securities covered by such registration statement may be sold without volume or manner of sale restrictions under Rule 144 (after taking into account any Holder’s status as an Affiliate of the Company) for purposes of Rule 144 and without the requirement for compliance by the Company with the current public information requirements under Rule 144(c)(1) or, if applicable, Rule 144(i)(2), as determined by counsel to the Company (the “Effectiveness Period”). In the event the Mandatory Registration must be effected on Form S-1 or before any similar long-form registration as the fifth anniversary date Company may elect or is required to use, such registration shall nonetheless be filed as a Shelf Registration and the Company shall use all reasonable best efforts to keep such registration current and effective, including by filing periodic post-effective amendments to update the information therein, including the financial statements contained in such registration statement in accordance with Regulation S-X promulgated under the Securities Act until the Shelf Termination Date. The Company shall not include in the Mandatory Registration any securities which are not Registrable Securities without the prior written consent of the Holders of at least a majority of the Registrable Securities included in such registration. The Company shall request effectiveness of a Registration Statement as of 5:00 P.M. New York City time on a Business Day. The Company shall promptly notify the Holders via facsimile or electronic mail in a “.pdf” format data file of the effectiveness of a Registration Statement within one (1) Business Day of the Effective Date. The Company shall, by 9:30 A.M. New York City time on the first Business Day after the Effective Date, file a final Prospectus with the Commission, as required by Rule 424(b). (ii) Notwithstanding the registration obligations set forth in this Section 2.1(b), in the event the SEC informs the Company that all of the Registrable Securities then outstanding cannot, as a result of the application of Rule 415 of the Securities Act, be registered for resale as a secondary offering on a single registration statement, the Company agrees to promptly (A) inform each of the Holders thereof and use its commercially reasonable efforts to file amendments to the initial registration statement as required by the SEC and/or (B) withdraw the “Required Registration Statement”) concerning initial registration statement and file a new registration statement, in either case covering the maximum number of Registrable Securities permitted to be registered by the SEC, on Form ▇-▇, ▇▇▇▇ ▇-▇ or such other form available to the Company to register for resale the Registrable Securities as a secondary offering; provided, that prior to filing such amendment or new registration statement, the Company shall be obligated to use its commercially reasonable efforts to advocate with the Commission for the registration of all of the Registrable Securities in accordance with the SEC Guidance, including without limitation, Compliance and Disclosure Interpretation 612.09. Notwithstanding any other provision of this Agreement, if any SEC Guidance sets forth a limitation of the number of Registrable Securities or other shares of Common Stock permitted to be registered on a particular Registration Statement as a secondary offering (and notwithstanding that the Company used diligent efforts to advocate with the SEC for the registration of all or a greater number of Registrable Securities), the number of Registrable Securities or other shares of Common Stock to be registered on such registration statement will be reduced on a pro rata basis. In the event the Company amends the initial registration statement or files a new registration statement, as the case may be, under clauses (A) or (B) above, the Company will use its commercially reasonable efforts to file with the SEC, as promptly as allowed by SEC or SEC Guidance provided to the Company or to registrants of securities in general, one or more registration statements on Form ▇-▇, ▇▇▇▇ ▇-▇ or such other form available to the Company to register for resale those Registrable Securities that were not registered for resale on the initial registration statement, as amended, or the new registration statement. (iii) If: (A) the initial registration statement required to be filed pursuant to Section 2.1(b) is not filed with the SEC on or prior to the Filing Deadline, or (B) the initial registration statement required to be filed pursuant to Section 2.1(b) is not declared effective by the SEC (or otherwise does not become effective) for any reason on or prior to the Effectiveness Deadline (any such failure an “Event,” and the date on which such Event occurs, an “Event Date” for purposes of this Section 2.1(b)(iii)), then in addition to any other rights the Holders may have hereunder or under applicable law, on each Event Date the Company shall pay to each Holder an amount in cash, as liquidated damages and not as a penalty (“Liquidated Damages”) equal to 1% of the purchase price paid in cash for any Registrable Securities held by such Holder on the Event Date, and on the thirtieth (30th) calendar day following such Event Date equal to 2% of the purchase price paid in cash for any Registrable Securities held by such Holder on the Event Date, if such registration statement has not been filed or declared effective, as applicable, on or before such date. The Required parties agree that notwithstanding anything to the contrary herein or in the Investment Agreement, no Liquidated Damages shall be payable if as of the relevant Event Date, the Registrable Securities may be sold by non-affiliates without volume or manner of sale restrictions under Rule 144 and the Company is in compliance with the current public information requirements under Rule 144(c)(1) (or Rule 144(i)(2), if applicable), as determined by counsel to the Company. The Effectiveness Deadline for a Registration Statement shall be extended without default or Liquidated Damages hereunder in the event that the Company’s failure to obtain the effectiveness of the registration statement on a timely basis results from the failure of an Investor to timely provide the Company with information requested by the Company and necessary to complete the registration statement in accordance with the requirements of the Securities Act (in which case the Effectiveness Deadline would be extended). (iv) In the event that Form F-3 if S-3 is not available for such a the registration and if unavailableof the resale of Registrable Securities hereunder, the Company shall (i) register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and (ii) undertake to register the resale of the Registrable Securities on Form F-3 as soon as S-3 promptly after such form is available, provided that the Company shall maintain the effectiveness of all the Registration Statements Statement then in effect until such time as a Registration Statement on Form F-3 S-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the HolderCommission.

Mandatory Registration. Solely in The Company agrees that, within forty-five (45) calendar days following the event there is not then Closing Date (the “Filing Deadline”), the Company will file with the SEC (at the Company’s sole cost and expense) a current registration statement concerning on appropriate form registering the resale of the full amount of Shares and Warrant Shares (and any other equity security issued or issuable with respect to the Shares and Warrant Shares by way of share split, dividend, distribution, recapitalization, merger, exchange, or replacement, the “Registrable Securities”) and naming the Purchaser as a selling shareholder thereunder (the “Registration Statement”), and the Company shall use its commercially reasonable efforts to have the Registration Statement declared effective as soon as practicable after the filing thereof, but in any event no later than ninety (90) calendar days after the Closing Date (the “Effectiveness Deadline”); provided, that the Effectiveness Deadline shall be extended to one hundred twenty (120) calendar days after the Closing Date if the Registration Statement is reviewed by, and comments thereto are provided from, the SEC; provided, further that the Company shall have the Registration Statement declared effective within three (3) Business Days after the date the Company is notified (orally or in writing, whichever is earlier) by the staff of the SEC (the “Staff”) that the Registration Statement will not be “reviewed” or will not be subject to further review. Upon Purchaser’s timely request, the Company shall prepare and file provide a draft of the Registration Statement to Purchaser at least three (3) Business Days in advance of the date of filing the Registration Statement with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Filing Date”), and Purchaser shall provide any comments on the Registration Statement to the Company no later than two (2) Business Days immediately preceding the Filing Date. Upon notification by the SEC that any Registration Statement has been declared effective by the SEC, within two (2) Business Day thereafter, the Company shall file the final prospectus under Rule 424 of the Securities Act. In no event shall the Purchaser be identified as a statutory underwriter in the Registration Statement unless requested by the SEC; provided, that if the SEC requests that Purchaser be identified as a statutory underwriter in the Registration Statement”, Purchaser will have the option, in its sole and absolute discretion, to either (i) concerning have the resale opportunity to withdraw from the Registration Statement, in which case the Company’s obligation to register the Registrable Securities will be deemed satisfied or (ii) be included as such in the Registration Statement. Subject to any comments from the SEC, such Registration Statement shall include the plan of all distribution attached hereto as Exhibit A. Such Registration Statement shall not include any shares of Common Stock or other securities for the account of any other holder without the prior written consent of the Purchasers beneficially owning (as determined pursuant to Rule 13d-3 under the Exchange Act) a majority of the Registrable Securities. The Required Company shall notify the Purchasers by facsimile or e-mail as promptly as practicable, and in any event, within twenty-four (24) hours, after the Registration Statement is declared effective or is supplemented and shall provide the Purchasers with copies of any related prospectus to be on Form F-3 if available for such a registration and if unavailable, used in connection with the Company shall register the resale sale or other disposition of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holdersecurities covered thereby.

Mandatory Registration. Solely in (a) No later than 10 business days after the event there is not then a current registration statement concerning the resale of the Registrable SecuritiesClosing, the Company shall will prepare and file with the SEC a registration statement on one occasion at its sole expense, upon Form S-3 for the written notice purpose of registering under the Securities Act all of the Holder at Registrable Shares for resale by, and for the account of, the Investors as selling stockholders thereunder (the "Registration Statement"). Unless otherwise directed in writing by the Majority Holders, the Registration Statement shall contain the Plan of Distribution attached hereto as Exhibit C. The 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 time commencing six (6) months or all of the Registrable Shares. In the event that the Registration Statement is reviewed by the staff of the SEC, then prior to the effectiveness of the Registration Statement, the Company shall respond in writing to any comment letter issued by the SEC relating to the Registration Statement within 5 business days after receipt of such SEC comment letter. The Company agrees to use reasonable efforts to cause the Registration Statement to become effective as soon as practicable, but in no event later than 90 days after the Registration Statement is filed by the Company. (b) The Company shall be required to keep the Registration Statement effective until the earliest of (i) the date on which all of the Investors may sell all of the Registrable Shares without restriction pursuant to Rule 144(k) (or the successor rule thereto) promulgated under the Securities Act, (ii) the date when all of the Registrable Shares registered thereunder shall have been sold and (iii) the fifth anniversary of the Closing, subject to extension as set forth below (such date is referred to herein as the "Mandatory Registration Termination Date"). Thereafter, the Company shall be entitled to withdraw the Registration Statement and the Investors shall have no further right to offer or sell any of the Registrable Shares pursuant to the Registration Statement (or any prospectus relating thereto). In the event the right of the selling Investors to use the Registration Statement (and the prospectus relating thereto) is delayed or suspended pursuant to Sections 4(c) or 9 hereof, the Company shall be required to extend the Mandatory Registration Termination Date beyond the fifth anniversary of the Closing by the same number of days as such delay or Suspension (as defined in Section 9 hereof) is in effect. (c) In the event that this Warrant becomes exercisable the Company does not (i) file the Registration Statement within 10 business days after the Closing, (ii) deliver its response letter to the SEC within 5 business days after receipt thereof, (ii) obtain the effectiveness of the Registration Statement within 90 days after the Registration Statement is filed by the Company or (iii) restrict the occurrence and duration of Suspension Periods to not more than two, for not more than an aggregate of 90 days, in any twelve-month period on or before the fifth second anniversary date of the Effective DateClosing, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, then the Company shall register pay to each Investor 1.0% of such Investor's aggregate purchase price per month (on a pro-rated basis) for the resale of period commencing on the Registrable Securities required filing date, response date, effective date or date on Form S-1 or another appropriate form reasonably acceptable which there occurs a violation with respect to a Suspension Period, as applicable, and ending on the date the Registration Statement is filed, the response letter is delivered to the Holder and undertake to register SEC, the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been is declared effective by or the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the HolderSuspension Period terminates, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holderapplicable.

Mandatory Registration. Solely in (i) The Company shall use its reasonable best efforts to file by the event there is not then 30th day following the Closing (such date, the “Filing Deadline”), with the SEC, a current registration statement concerning on Form S-1 or such other SEC form which the Company is eligible to use with respect to the resale of the Registrable Securitiesfrom time to time, the Company shall prepare and file with the SEC on one occasion at its sole expensewhether underwritten or otherwise, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated use Form S-3, if it is then eligible to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafteruse Form S-3. The Company shall use its reasonable best efforts to have promptly respond to all SEC comments, if any, related to such Required Registration Statementregistration statement but in any event within two weeks of the receipt thereof, and each other Registration Statement required shall use its reasonable best efforts to obtain all such qualifications and compliances as may be so requested and as would permit or facilitate the sale and distribution of all of the Holders’ Registrable Securities, including causing such registration statement to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicablepracticable after filing and no later than the Effectiveness Deadline. The Company shall pay use its reasonable best efforts to maintain the costs effectiveness of the registration effected pursuant to this Section 2.1(a) at all times. The registration contemplated by this Section 2.1(a) is referred to herein as the “Mandatory Registration.” The Mandatory Registration shall be filed with the SEC in accordance with and expenses thereofpursuant to Rule 415 promulgated under the Securities Act (or any successor rule then in effect) (a “Shelf Registration”). So long as any such Shelf Registration is effective as required herein and in compliance with the Securities Act and is usable for resale of Registrable Securities, for one time onlythe Holders shall be entitled to demand any number of takedowns (including underwritten takedowns, which costs provided that (i) the Registrable Securities requested to be included in such underwritten takedown constitute at least 25% of the Registrable Securities then outstanding or (ii) the anticipated aggregate offering price based on the then-current market prices, net of underwriting discounts and expenses commissions, would exceed $10,000,000 from the Shelf Registration. In connection with any such takedown, the Company shall include “Blue Sky” fees for counsel for take all customary and reasonable actions that the Underwriter and “Blue Sky” filing fees Company would take in connection with an underwritten registration pursuant to qualify Section 2.3 (including, without limitation, all actions referred to in Section 2.5 necessary to effectuate such sale in the Purchase Warrants in those jurisdictions requested manner determined by the Holders of at least a majority of the Registrable Securities to be included in such underwritten takedown). The Company shall use its reasonable best efforts to cause the registration statement or statements filed hereunder to remain effective until such date (the “Shelf Termination Date”) that is the earlier of (i) the date on which all Registrable Securities included in the registration statement shall have been sold to the public by a Holder either pursuant to a registration statement or Rule 144, or shall otherwise have ceased to be Registrable Securities and (ii) the date that all Registrable Securities covered by such registration statement may be sold without volume or manner of sale restrictions under Rule 144 (after taking into account any Holder’s status as an Affiliate of the Company) for purposes of Rule 144 and without the requirement for compliance by the Company with the current public information requirements under Rule 144(c)(1) or, if applicable, Rule 144(i)(2), as determined by counsel to the Company (the “Effectiveness Period”). In the event the Mandatory Registration must be effected on Form S-1 or any similar long-form registration as the Company may elect or is required to use, such registration shall nonetheless be filed as a Shelf Registration and the Company shall use its reasonable best efforts to keep such registration current and effective, including by filing periodic post-effective amendments to update the information therein, as determined by counsel to the Company, including the financial statements contained in such registration statement in accordance with Regulation S-X promulgated under the Securities Act until the Shelf Termination Date. The Company shall not include in the Mandatory Registration any securities which are not Registrable Securities without the prior written consent of the Holders of at least a majority of the Registrable Securities included in such registration. The Company shall request effectiveness of a Registration Statement as of 5:00 P.M. New York City time on a Business Day. The Company shall promptly notify the Holders via facsimile or electronic mail in a “.pdf” format data file of the effectiveness of a Registration Statement within one (1) Business Day of the Effective Date. The Company shall, by 9:30 A.M. New York City time on the first Business Day after the Effective Date, file a final Prospectus with the Commission, as required by Rule 424(b).

Mandatory Registration. Solely in (a) On or before the event there is not then a current registration statement concerning the resale of the Registrable SecuritiesFiling Deadline, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as Commission a Registration Statement on Form F-3 S-3 as a "shelf" registration statement under Rule 415 covering the resale of at least 200% of the number of shares of Registrable Securities then issuable on conversion of the Preferred Shares and exercise of the Warrants then outstanding (such number to be determined using the Conversion Price or exercise price in effect on the date of such filing and without regard to any restriction on the ability of a Holder to convert Preferred Shares or exercise the Warrants as of such date). The Registration Statement shall state, to the extent permitted by Rule 416 under the Securities Act, that it also covers such indeterminate number of shares of Common Stock as may be required to effect (i) conversion of the Preferred Shares to prevent dilution resulting from stock splits, stock dividends or similar events, or by reason of changes in the Conversion Price in accordance with the terms of the Certificate of Designation and (ii) exercise of the Warrants in full to prevent dilution resulting from stock splits, stock dividends or similar events. The number of shares initially registered under the Registration Statement shall be allocated pro rata among the Purchasers based on the number of Preferred Shares issued to each Purchaser at the Tranche A Closing. Each increase in the number of shares registered under the Registration Statement shall be allocated pro rata among the Holders based on the number of Preferred Shares held by such Holder at the time of such increase. In the event that a Holder shall sell or otherwise transfer any of such Holder's Preferred Shares, each transferee shall be allocated a pro rata portion of such transferor's allocation of registered shares. Any portion of such allocated amount which remains allocated to any person or entity which does not hold any Preferred Shares shall be allocated to the remaining Holders pro rata based on the number of Preferred Shares then held by such Holders. (b) Statement to a time and date not later than forty-eight (48) hours after the submission of such request, and maintain the effectiveness of the Registration Statement until the earlier to occur of (i) the date on which all of the Registrable Securities have been sold pursuant to the Registration Statement and (ii) the date on which all of the remaining Registrable Securities (in the reasonable opinion of counsel to the Purchaser) may be immediately sold to the public under Rule 144(k) or any successor provision (the "Registration Period"). (c) If (A) the Registration Statement is not filed on or before the Filing Deadline or declared effective by the Commission on or before the Registration Deadline or (B) after the Registration Statement has been declared effective by the SEC and Commission, sales of Registrable Securities cannot be made by a Holder under the prospectus contained therein is available Registration Statement for use. Within ten any reason not within the exclusive control of such Holder (10other than such Registrable Securities as are then freely saleable pursuant to Rule 144(k) days after receiving written notice from under the HolderSecurities Act), (each, a "Registration Event"), the Company shall give notice pay to each Holder an amount equal to the other Holders lesser of (x) one and one half percent (1.5%) per month and (y) the highest rate permitted by applicable law, times the aggregate Stated Value (as defined in the Certificate of Designation) of the Purchase Warrants advising that Preferred Shares held by such Holder, accruing daily and compounded monthly, from the date on which a Registration Event first occurs until the date on which the Registration Event is no longer continuing. The amounts paid or payable by the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company hereunder shall not be obligated in addition to any such other remedies available to a Holder unless such other Holder shall accept such offer by notice at law or in writing equity or pursuant to the Company terms of any other Transaction Document. Payments of cash pursuant hereto shall be made within five (5) days thereafter. The Company after the end of each period that gives rise to such obligation, provided that, if any such period extends for more than thirty (30) days, payments shall use its best efforts to have such Required Registration Statement, and be made at the end of each other thirty-day period. (d) In the event that (A) the Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, is not declared effective by the SEC as soon as practicable. The Company shall pay twentieth (20th) Business Day following the costs and expenses thereofRegistration Deadline, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for (B) after the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested Registration Statement has been declared effective by the HolderCommission, sales of Registrable Securities cannot be made by a Holder under the Registration Statement for any reason not within the exclusive control of such Holder (other than such Registrable Securities as are then freely saleable pursuant to Rule 144(k) under the Securities Act), or (C) the Common Stock is not included for quotation on the Nasdaq Stock Market or listed on the New York Stock Exchange or the American Stock Exchange, (each event described in clause (A), (B) or (C) being hereinafter referred to as a "Repricing Event"), in addition to the amounts which may be payable pursuant to paragraph 2(c) above, the Fixed Conversion Price (as defined in the Certificate of Designation) for any conversion of Preferred Shares occurring during the twenty two (22) Trading Days following the Cure Date (as defined below) with respect to such event shall be deemed to be equal to the lesser of (i) the lowest Conversion Price (as defined in the Certificate of Designation) in effect during the period between the date on which a Repricing Event occurs and the date on which such Repricing Event is no longer continuing (the "Cure Date") and (ii) the Fixed Conversion Price that would otherwise be in effect on the relevant Conversion Date (as defined in the Certificate of Designation).

Mandatory Registration. Solely in (a) The Company shall be required to file an Initial Registration Statement on or prior to the event there is not then a current registration statement concerning the resale of Filing Date registering the Registrable SecuritiesSecurities for resale by the Holders as selling stockholders thereunder. On or prior to the Filing Date, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon an Initial Registration Statement for the written notice purpose of registering under the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning Securities Act the resale of all, or such portion as permitted by SEC Guidance (and the Company shall make a commercially reasonable effort to advocate with the SEC for the registration of all or the maximum number of the Registrable Securities as permitted by SEC Guidance) of the Registrable Securities by, and for the account of, the Holders as selling stockholders thereunder, that are not then registered on an effective Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415. No other securities shall be included in the Initial Registration Statement that is filed except for the Registrable Securities and the Debenture Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as cause a Registration Statement to be declared effective by the SEC under the Securities Act as promptly as practicable after the filing thereof, but in any event on Form F-3 covering or prior to the resale applicable Effectiveness Date. (b) The Company shall be required to keep a Registration Statement effective until such date that is the earlier of (the “Effectiveness Period”) (i) the date as of which all of the Holders as selling stockholders thereunder may sell all of the Registrable Securities has registered for resale thereon without restriction pursuant to Rule 144 or (ii) the date when all of the Registrable Securities registered thereunder shall have been declared effective by sold (such date is referred to herein as the SEC and the prospectus contained therein is available for use“Mandatory Registration Termination Date”). Within ten (10) days after receiving written notice from the HolderThereafter, the Company shall give notice be entitled to withdraw such Registration Statement and the Holders shall have no further right to offer or sell any of the Registrable Securities registered for resale thereon pursuant to the respective Registration Statement (or any prospectus relating thereto). (c) Notwithstanding any other provision of this Agreement, if any SEC Guidance sets forth a limitation on the number of Registrable Securities and Debenture Unit Registrable Securities to be registered in the Initial Registration Statement (and the Company has made a commercially reasonable effort to advocate with the SEC for the registration of all or a greater number of such registrable securities), the number of Registrable Securities and Debenture Unit Registrable Securities to be registered on such Registration Statement will be reduced on a pro rata basis among the Investors and the Debenture Unit Holders based on the total number of unregistered Registrable Securities and Debenture Unit Registrable Securities held by the Holders and the Debenture Unit Holders, respectively, on a fully diluted basis. With respect to such pro rata reduction on Registrable Securities, the number of Registrable Securities to be registered on such Registration Statement will first be reduced by the Registrable Securities represented by the Registrable Warrant Shares (applied, in the case that some Registrable Warrant Shares may be registered, to the Holders on a pro rata basis based on the total number of unregistered Registrable Warrant Shares held by such Holders), and second by Registrable Securities represented by Registrable Unit Shares (applied, in the case that some Registrable Unit Shares may be registered, to the Holders on a pro rata basis based on the total number of unregistered Unit Shares held by such Holders). The Company shall file a new registration statement as soon as reasonably practicable covering the resale by the Holders and the Debenture Unit Holders of not less than the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants number of such other HoldersRegistrable Securities and the Debenture Unit Registrable Securities, respectively, that are not registered in the Initial Registration Statement. The Company shall not be obligated liable for liquidated damages under Section 5(a) as to any Registrable Securities which are not permitted by the SEC to be included in a Registration Statement due solely to SEC Guidance from time to time. In such other Holder unless case, any liquidated damages payable under Section 5(a) shall be calculated to apply only the percentage of Registrable Securities which are permitted in accordance with SEC Guidance to be included in such other Holder shall accept such offer by notice in writing Registration Statement. (d) If during the Effectiveness Period, subject to Section 3(a) and Section 3(c), the Company within five becomes aware that the number of Registrable Securities at any time exceeds the number of Registrable Securities then registered for resale in a Registration Statement, then the Company shall file as soon as reasonably practicable an additional Registration Statement covering the resale by the Holders of not less than the number of such Registrable Securities that are not then registered. (5e) days thereafterNotwithstanding any other provision of this Agreement, if during the Effectiveness Period any of the Registrable Securities become eligible for resale without restriction pursuant to Rule 144 (the “Rule 144 Eligible Securities”) then the number of Registrable Securities outstanding at any one time shall be reduced by the number of Rule 144 Eligible Securities and the Company may at its option file an amendment to any Registration Statement to reduce the number of Registrable Securities accordingly. The Company shall use acknowledges that the Company’s obligation to file its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to periodic disclosure documents for the terms twelve (12) month period preceding the date of sale is a “restriction” as that term is used in the first sentence of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the HolderSection 3(e).

Mandatory Registration. Solely (a) As promptly as possible after the date hereof, and in any event no later than 45 days after the event there is not then a current registration statement concerning date of this Agreement (the resale date which occurs 45 days after the date of the Registrable Securitiesthis Agreement, the “Filing Date”) the Company shall will prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement on Form S-3 (or such other appropriate form) for the “Required Registration Statement”) concerning purpose of registering under the resale of Securities Act all of the Registrable SecuritiesShares for resale by, and for the account of, each Purchaser as an initial selling stockholder thereunder (the “Mandatory Registration Statement”). The Required Mandatory Registration Statement shall be permit the Purchasers to offer and sell, on Form F-3 if available for such a registration and if unavailabledelayed or continuous basis pursuant to Rule 415 under the Securities Act, the Company shall register the resale of the Registrable Securities on Form S-1 any or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Shares. Such Registration Statement also shall cover, to the extent allowable under the Securities has been declared effective by the SEC Act and the prospectus contained therein is available for use. Within ten rules promulgated thereunder (10) days after receiving written notice including Rule 416), such indeterminate number of additional shares of Common Stock resulting from the Holderstock splits, the Company shall give notice stock dividends or similar transactions with respect to the Registrable Shares. Such Registration Statement shall not include any shares of Common Stock or other Holders securities for the account of any other holder without the prior written consent of the Purchase Warrants advising that holders of a majority of the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other HoldersRegistrable Shares. The Company shall not be obligated agrees to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required cause the Mandatory Registration Statement to be declared effective as soon as possible but in no event later than (the “Mandatory Effective Date”) sixty (60) calendar days after the Filing Date (if no SEC review of the Mandatory Registration Statement) or one hundred twenty (120) calendar days after the Filing Date (if there is an SEC review of the Mandatory Registration Statement), and each other Registration Statement required to be filed pursuant to file with the terms SEC, within three (3) Business Days of this Purchase Warrantthe date that the Company is notified (orally or in writing, declared effective whichever is earlier) by the SEC as soon as practicablethat 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 pay notify each Purchaser in writing promptly (and in any event within one (1) Business Day) after the costs 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 expenses thereof(ii) the second (2nd) anniversary of the Mandatory Effective Date; provided, that in either case such date shall be extended by the amount of time of any Suspension Period. Thereafter, the Company shall be entitled to withdraw the Mandatory Registration Statement and, upon such withdrawal, the Purchasers 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 Purchasers 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 Purchasers 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 Purchasers, of the Mandatory Registration Statement (and the Prospectus relating thereto), then the right of the Purchasers 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 at any one time onlyand not greater than an aggregate of sixty (60) Business Days during any consecutive twelve (12) month period; provided, which costs however, that in no event, without the prior written consent of a Purchaser and expenses upon entry between the Company and Purchaser of a confidentiality agreement with respect to such material non-public information, shall include “Blue Sky” fees for counsel the Company disclose to such Purchaser any of the facts or circumstances regarding material non-public information giving rise to such suspension. During the Suspension Period, the Purchasers 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 use its commercially reasonable efforts to as promptly as possible lift any suspension, provide the Purchasers with revised Prospectuses, if required, and will notify the Purchaser 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 Underwriter account of a Purchaser pursuant to this Section 2 or Section 3 that such Purchaser furnish to the Company such information regarding itself, the Registrable Securities held by it, and “Blue Sky” filing fees the method of disposition of such securities as shall be required to qualify effect the Purchase Warrants in those jurisdictions requested by the Holderregistration of such Purchaser’s Registrable Securities.

Mandatory Registration. Solely in (a) Within ten (10) business days after the event there is not then a current registration statement concerning the resale of the Registrable SecuritiesClosing, the Company shall will prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (on Form S-3, or, if Form S-3 is not available, on Form S-1, for the “Required Registration Statement”) concerning purpose of registering under the resale of Securities Act all of the Registrable SecuritiesShares for resale by, and for the account of, the Investors as selling stockholders thereunder (the "Registration Statement"). The Required Registration Statement shall be permit the Investors to offer and sell, on Form F-3 if available for such a registration and if unavailabledelayed or continuous basis pursuant to Rule 415 under the Securities Act, the Company shall register the resale of the Registrable Securities on Form S-1 any or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other HoldersShares. The Company shall not be obligated agrees to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other cause the Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared become effective by the SEC as soon as practicable. The Company shall pay be required to keep the costs Registration Statement effective until such date that is the earlier of (i) the date when all of the Registrable Shares registered thereunder shall have been sold or (ii) the second anniversary of the Closing, subject to extension as set forth below (such date is referred to herein as the "Mandatory Registration Termination Date"). Thereafter, the Company shall be entitled to withdraw the Registration Statement and expenses thereofthe Investors shall have no further right to offer or sell any of the Registrable Shares pursuant to the Registration Statement (or any prospectus relating thereto). In the event the right of the selling Investors to use the Registration Statement (and the prospectus relating thereto) is delayed or suspended pursuant to Sections 5(c) or 11 hereof, for one time only, which costs and expenses the Company shall include “Blue Sky” fees for counsel for be required to extend the Underwriter and “Blue Sky” filing fees to qualify Mandatory Registration Termination Date beyond the Purchase Warrants in those jurisdictions requested second anniversary of the Closing by the Holdersame number of days as such delay or Suspension Period (as defined in Section 11 hereof). (b) The offer and sale of the Registrable Shares pursuant to the Registration Statement shall not be underwritten.

Mandatory Registration. Solely in (a) The Company shall prepare promptly and, on or prior to the event there date that is not then a current registration statement concerning ninety (90) days after the Closing Date, file with the Commission the Registration Statement (i) for the resale by the Buyer of a number of Registrable Securities equal to the number of shares of Firm Shares issued and sold by the Company to the Buyer pursuant to this Agreement and (ii) for resale by the Buyer or the Additional Shares Buyer, as the case may be, a number of Registrable Securities equal to the number of Additional Shares issued and sold by the Company pursuant to this Agreement; provided, that if the purchase and sale of the Additional Shares has not been consummated by the date which is twenty (20) days after the Closing Date, then on or prior to the date that is ninety (90) days after the Additional Closing Date, the Company shall file with the Commission either a Registration Statement for the resale by the Additional Shares Buyer of a number of Registrable Securities equal to the number of Additional Shares issued and sold by the Company pursuant to this Agreement or an amendment to the Registration Statement theretofore filed that would register the Additional Shares in addition to the Firm Shares. If for any reason the Commission does not permit all of the Registrable Securities to be included in such Registration Statement, then the Company shall prepare and file with the Commission a separate Registration Statement with respect to any such Registrable Securities not included with the initial Registration Statement, as expeditiously as possible, but in no event later than the date which is thirty (30) days after the date on which the Commission shall indicate as being the first date such filing may be made. (b) If a Registration Event occurs, then the Company will make payments to the Investors as partial liquidated damages for the minimum amount of damages to the Investors by reason thereof, and not as a penalty, at the rate of 2% per month of the aggregate purchase price paid by the Investors for the Shares pursuant to this Agreement, for each calendar month of the Registration Default Period (pro rated for any period less than thirty (30) days). Each such payment shall be due and payable within five (5) days after the end of each calendar month of the Registration Default Period until the termination of the Registration Default Period and within five (5) days after such termination. Such payments shall be in partial compensation to the Investors, and shall not constitute the Investors' exclusive remedy for such events. The Registration Default Period shall terminate upon: (1) the filing of the Registration Statement in the case of clause (i) of the definition of "Registration Event"; (2) the SEC Effective Date in the case of clause (ii) of the definition of "Registration Event"; (3) the ability of the Investors to effect sales pursuant to the Registration Statement in the case of clause (iii) of the definition of "Registration Event"; (4) the listing or inclusion and/or trading of the Shares on an Approved Market, as the case may be, in the case of clause (iv) of the definition of "Registration Event," and (5) in the case of the events described in clauses (ii) and (iii) of the definition of "Registration Event", the earlier termination of the Registration Period and in each such case any Registration Default Period that commenced by reason of the occurrence of such event shall terminate if at the time no other Registration Event is continuing. The amounts payable as liquidated damages pursuant to this paragraph shall be payable in lawful money of the United States and shall be paid pro rata to the Buyer and the Additional Shares Buyer in proportion to the number of shares purchased by each of them. Amounts payable as liquidated damages hereunder shall cease when the Investors no longer hold Registrable Securities; provided, that in no event shall the amount payable as liquidated damages pursuant to this Section 10.1(b) be in excess of 8% of the purchase price paid by each Investor for the Shares purchased by it. (c) At any time and from time to time, promptly following the written demand from either of the Investors following the issuance of any Additional Registrable Securities, and in any event within thirty (30) days following such written demand, the Company shall prepare and file with the SEC Commission either a new Registration Statement or a post-effective amendment to a previously filed Registration Statement, to the extent permitted under the Securities Act, on one occasion at its sole expenseForm S-3 (or, upon if Form S-3 is not then available to the written notice Company, on such form of registration statements as is then available to effect a registration for resale of the Holder at any time commencing six (6Additional Registrable Securities) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning covering the resale of all the Additional Registrable Securities in an amount equal to the number of Additional Registrable Securities. Such Registration Statement also shall cover, to the extent allowable under the Securities Act and the rules promulgated thereunder (including Rule 416), as determined by the Company and its legal counsel, such indeterminate number of additional shares of Common Stock resulting from stock splits, stock dividends or similar transactions with respect to the Additional Registrable Securities. The Required Registration Statement (and each amendment or supplement thereto) shall be on provided in accordance with Section 10.2 to the Investor and its counsel prior to its filing or other submission. (d) In the event the Form F-3 if S-3 is not available for such a the registration and if unavailableof the resale of Registrable Securities hereunder, the Company shall (i) register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake (ii) attempt to register the resale of the Registrable Securities on Form F-3 S-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all the Registration Statements then in effect until such time as a Registration Statement on Form F-3 S-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the HolderSEC.

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the Company shall prepare (a) PetroQuest covenants and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date agrees that this Warrant becomes exercisable and on or before 30 days after the fifth anniversary date Closing Date, PetroQuest will cause to be filed pursuant to Rule 415 of the Effective Date, Securities Act a required registration statement Shelf Registration Statement on Form S-3 (the “Required Shelf Registration Statement”) concerning as to the resale of all of the Registrable SecuritiesShares, naming MBL as a selling stockholder. The Required PetroQuest shall use its commercially reasonable best efforts to have such Shelf Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 declared effective as soon as reasonably practicable after such form is availablefiling, provided and to keep such Shelf Registration Statement continuously effective until two years following the Closing Date; provided, however, that the Company shall maintain PetroQuest may voluntarily suspend the effectiveness of all Registration Statements then in effect until such time as a Shelf Registration Statement on Form F-3 covering for a limited time, which in no event shall be longer than 90 days, if PetroQuest has been advised by counsel or underwriters to PetroQuest that the resale of all offering of the Registrable Securities has been Shares pursuant to the Shelf Registration Statement would adversely affect, or would be improper in view of (or improper without disclosure in a prospectus), a proposed financing, a reorganization, recapitalization, merger, consolidation, or similar transaction involving PetroQuest, in which case PetroQuest shall be required to keep such Shelf Registration Statement effective for an additional period of time beyond two years following the Closing Date equal to the number of days the effectiveness thereof is suspended pursuant to this proviso. If any event occurs that would cause the Shelf Registration Statement to contain a material misstatement or omission or not to be effective and usable during the period that such Shelf Registration Statement is required to be effective and usable, PetroQuest shall promptly file an amendment to the Shelf Registration Statement and use its best efforts to cause such amendment to be declared effective by the SEC as soon as practicable thereafter. MBL shall furnish PetroQuest such information regarding its holdings and the prospectus proposed manner of distribution thereof as PetroQuest may reasonably request and as shall be required in connection with the Shelf Registration Statement. Notwithstanding any provision contained therein is available for use. Within ten (10) days after receiving written notice from herein to the Holdercontrary, PetroQuest’s obligation to include, or continue to include, the Company Shares in the Shelf Registration Statement pursuant to this Agreement shall give notice terminate to the extent the Shares are eligible for resale under Rule 144(k) promulgated under the Securities Act. (b) All costs and expenses of any registration and qualification pursuant to this Agreement shall be borne by PetroQuest. Such costs and expense shall include, without limitation, the fees and expenses of counsel for PetroQuest and of its accountants, all other Holders costs, fees and expenses of PetroQuest incident to the preparation, printing and filing under the Securities Act of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering all amendments on supplements thereto, the cost of furnishing copies of each preliminary prospectus, each final prospectus and each amendment or supplement thereto to include therein Purchase Warrants underwriters, dealers and other purchasers of such other Holdersthe Shares and the costs and expenses (including fees and disbursements of counsel) incurred in connection with the qualification of the Shares under the securities laws of various jurisdictions. The Company Notwithstanding the foregoing, PetroQuest shall not be obligated to bear any fees, or expenses for counsel or other advisors to MBL or any underwriting fees, discounts or commissions or brokerage fees allocable to the registration or qualification of the Shares. (c) In the case of any registration or qualification pursuant to this Agreement, PetroQuest will keep MBL advised in writing as to the initiation of proceedings for such registration and qualification and as to the completion thereof, and will advise MBL, upon request, of the progress of such proceeding. (d) At PetroQuest’s expense, PetroQuest will keep each registration and qualification under this Agreement effective (and in compliance with the Securities Act) by such action as may be necessary or appropriate for a period of two years after the Closing Date, including, without limitation, the filing of post-effective amendments and supplements to any registration statement or prospectus necessary to keep the registration statement current and the further qualification under any applicable state securities laws to permit such sale or distribution, all as reasonably requested by MBL. PetroQuest will immediately notify MBL, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing. (e) In connection with any registration of the Shares, PetroQuest will provide a transfer agent and registrar for the Shares not later than the effective date of such registration statement. (f) In connection with any registration of the Shares, PetroQuest will, if requested by the underwriters for any Shares included in such registration, enter into an underwriting agreement with such underwriters for such offering, such agreement to contain such representations and warranties by PetroQuest and such other terms and provisions as are customarily contained in underwriting agreements with respect to secondary distributions, including, without limitation, provisions relating to indemnification and contribution. MBL shall be party to any such underwriting agreement, and the representations and warranties by, and the other Holder unless agreements on the part of, PetroQuest to and for the benefit of such underwriters shall also be made to and for the benefit of MBL. (g) In connection with the preparation and filing of the registration statement registering the Shares, PetroQuest will give MBL and its underwriter, if any, and their respective counsel and accountants (at their sole expense), the opportunity to participate in the preparation of such registration statement, each prospectus included therein or filed with the Commission, and each amendment thereof or supplement thereto, and will give each of them such access to its books and records and such opportunities to discuss the business of PetroQuest with its officers, its counsel and the independent public accountants who have certified its financial statements, as shall be necessary, in the opinion of MBL or such underwriters or their respective counsel, in order to conduct a reasonable and diligent investigation within the meaning of the Securities Act. Without limiting the foregoing, each registration statement, prospectus, amendment, supplement or any other Holder document filed with respect to a registration under this Agreement shall accept be subject to a reasonable review and comment period by MBL registering Shares in such offer registration and by notice its counsel. (h) PetroQuest will, at the expense of PetroQuest, furnish to MBL such number of registration statements, prospectuses, offering circulars and other documents incident to any registration or qualification referred to in this Agreement as MBL from time to time may reasonably request. (i) (A) PetroQuest agrees to indemnify, to the extent permitted by law, MBL and its officers, directors, stockholders, employees, agents and representatives, and any other person deemed to control MBL within the meaning of the Securities Act against all losses, claims, damages, liabilities and expenses caused by (i) any violation or alleged violation by PetroQuest of the Securities Act, the Exchange Act or any other federal or state securities law, rule or regulation applicable to PetroQuest or (ii) any untrue statement of material fact contained in any registration statement, prospectus or preliminary prospectus or any amendment thereof or supplement thereto or any omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as the same are caused by or contained in any information furnished in writing to PetroQuest by MBL expressly for use therein or by MBL’s failure to deliver a copy of the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holderregistration statement or prospectus or any amendments or supplements thereto.

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the The Company shall prepare and use its best efforts to prepare, as soon as practicable, but in no event later than 75 Business Days following January 31, 2006 (the "FILING DEADLINE"), file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 SB-2 covering the resale of all of the Registrable Securities has been declared effective together with other securities of the Company as may be determined by the SEC and Company ("ADDITIONAL SECURITIES"). In the prospectus contained therein event that Form SB-2 is available unavailable for use. Within ten (10) days after receiving written notice from the Holdersuch a registration, the Company shall give notice use such other form as is available for such a registration. The Registration Statement prepared pursuant hereto shall register for resale 9,000,000 shares of Common Stock (subject to adjustment and assuming all of the Purchased Shares and Warrants under the Securities Purchase Agreement have been subscribed for, and to the other Holders extent a lesser amount of Purchased Shares and Warrants under the Securities Purchase Agreement have been subscribed for, such lesser amount) and the Additional Securities. The Registration Statement shall contain (except if otherwise directed by the holders of at least a majority of the Purchase Warrants advising that Registrable Securities) the Company is proceeding with such registration statement "SELLING STOCKHOLDERS" section in substantially the form attached hereto as EXHIBIT B and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. "PLAN OF DISTRIBUTION" attached hereto as EXHIBIT B. The Company shall use its best efforts to have such Required Registration Statement, and each other the Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay use its best efforts to respond, file, amend the costs Registration Statement, and expenses thereofsatisfy ("RESPONSE"), for one time onlyas soon as practicable, which costs and expenses shall include “Blue Sky” fees for counsel for any questions, comments, demands, or any other requests of the Underwriter and “Blue Sky” filing fees to qualify SEC, but in no event later than 14 days after the Purchase Warrants receipt of the same (or such other period agreed in those jurisdictions requested writing by the HolderCompany and the holders of the majority of the Registrable Securities (the "EFFORTS DEADLINE")."

Mandatory Registration. Solely in the event there is not then (a) The Company shall be required to file a current registration statement concerning the resale Registration Statement on or prior to each Filing Date until all of the Registrable SecuritiesSecurities are registered for resale by the Investors and the Placement Agent as selling stockholders thereunder. On or prior to each Filing Date, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon a Registration Statement for the written notice purpose of registering under the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning Securities Act the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for all, or such a registration and if unavailableportion as permitted by SEC Guidance (provided that, the Company shall register use commercially reasonable efforts to advocate with the resale SEC for the registration of all or the maximum number of the Registrable Securities as permitted by SEC Guidance), of the Registrable Securities by, and for the account of, the Investors and the Placement Agent as selling stockholders thereunder, that are not then registered on Form S-1 or another appropriate form an effective Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415. No other securities shall be included in the Initial Registration Statement that is filed except for the Registrable Securities and the securities listed in Exhibit C hereto (“Exhibit C Securities”). Each Registration Statement shall contain a “Plan of Distribution” section reasonably acceptable to the Holder and undertake Placement Agent. Subject to register the resale terms of the Registrable Securities on Form F-3 as soon as such form is availablethis Agreement, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as cause a Registration Statement on Form F-3 covering to be declared effective under the resale Securities Act as promptly as possible after the filing thereof and will use commercially reasonable efforts in this regard. (b) The Company shall be required to keep a Registration Statement effective until such date that is the earlier of (i) the date as of which all of the Investors as selling stockholders thereunder may sell all of the Registrable Securities has registered for resale thereon without restriction pursuant to Rule 144 (or any successor rule thereto) promulgated under the Securities Act or (ii) the date when all of the Registrable Securities registered thereunder shall have been declared effective by sold (such date is referred to herein as the SEC and the prospectus contained therein is available for use“Mandatory Registration Termination Date”). Within ten (10) days after receiving written notice from the HolderThereafter, the Company shall give notice be entitled to withdraw such Registration Statement and the Investors shall have no further right to offer or sell any of the Registrable Securities registered for resale thereon pursuant to the respective Registration Statement (or any prospectus relating thereto). The Company acknowledges that the Company’s former status as a “shell company” and its ongoing requirement, under current Rule 144, to be current in its SEC periodic filings for 12 months prior to any Rule 144 sale is a continual “restriction” pursuant to Rule 144 for purposes of this Agreement. (c) Notwithstanding any other Holders provision of this Agreement, if any SEC Guidance sets forth a limitation of the Purchase Warrants advising number of Registrable Securities and Exhibit C Securities to be registered in the Initial Registration Statement (and notwithstanding that the Company is proceeding used commercially reasonable efforts to advocate with the SEC for the registration of all or a greater number of Registrable Securities and Exhibit C Securities), unless otherwise directed in writing by the Majority Holders, the number of Registrable Securities and Exhibit C Securities to be registered on such registration statement Registration Statement will first be reduced by the Placement Agent Warrant Shares, second by the Exhibit C Securities (applied, in the case that some Exhibit C Securities may be registered, to such holders on a pro rata basis based on the total number of unregistered Exhibit C Securities held by such persons on a fully diluted basis), third to the Registrable Securities represented by Underlying Shares (applied, in the case that some Underlying Shares may be registered, to the Investors on a pro rata basis based on the total number of unregistered Underlying Shares held by such Investors on a fully diluted basis), and offering fourth by Registrable Securities represented by Purchased Shares (applied, in the case that some Purchased Shares may be registered, to include therein Purchase Warrants the Investors on a pro rata basis based on the total number of unregistered Purchased Shares held by such Investors). (d) If during the Effectiveness Period, subject to Section 3(a), the number of Registrable Securities at any time exceeds the number of Registrable Securities then registered for resale in a Registration Statement, then the Company shall file as soon as reasonably practicable and in accordance with SEC Guidance, an additional Registration Statement covering the resale by the Investors of not less than the number of such other HoldersRegistrable Securities that are not then registered. The Company shall not have right to include the securities listed in Exhibit D hereto (“Exhibit D Securities”) in any additional Registration Statement that is filed. If any SEC Guidance sets forth a limitation of the number of Registrable Securities, Exhibit C Securities and/or Exhibit D Securities to be obligated registered on a particular Registration Statement (and notwithstanding that the Company used commercially reasonable efforts to any advocate with the SEC for the registration of all or a greater number of such other Holder securities), unless such other Holder shall accept such offer by notice otherwise directed in writing by the Majority Holders, the number of Registrable Securities, Exhibit C Securities and Exhibit D Securities to be registered on such Registration Statement will first be reduced on a share for share basis among the Exhibit D Securities, Exhibit C Securities, Registrable Securities represented by the Placement Agent Warrant Shares and Registrable Securities represented by Underlying Shares and second by Registrable Securities represented by Purchased Shares (applied, in the case that some Purchased Shares may be registered, to the Company within five (5) days thereafter. The Company shall use its best efforts to have Investors on a pro rata basis based on the total number of unregistered Purchased Shares held by such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the HolderInvestors).

Mandatory Registration. Solely in (a) Within five (5) days after the event there is not then a current registration statement concerning Company receives notice from the resale SEC that it has cleared the Proxy Statement filed by the Company pursuant to Section 7 of the Registrable SecuritiesSecurities Purchase Agreement, or of its decision not to review the Proxy Statement, as the case may be, the Company shall will prepare and file with the SEC a registration statement on one occasion at its sole expenseForm S-3 or any successor form (except if the Company is not then eligible to register for resale the Registrable Securities on Form S-3, upon in which case such registration shall be on Form S-1 or any successor form) for the written notice purpose of registering under the Securities Act all of the Holder at Registrable Securities for resale by, and for the account of, the Investors as selling stockholders thereunder (the "Registration Statement"); provided, however, that if Nasdaq, the SEC or any time commencing six (6) months other regulatory authority requires the filing of such Registration Statement to be delayed until after the date that this Warrant becomes exercisable Company has obtained the approval of its stockholders to the transactions contemplated by the Securities Purchase Agreement, the Registration Statement shall be filed within five (5) days of obtaining such stockholder approval. In any event, the Registration Statement shall not be declared effective by the SEC until after the Company has obtained such stockholder approval. The Registration Statement shall permit the Investors to offer and sell, on a delayed or before continuous basis pursuant to Rule 415 under the fifth anniversary date of the Effective DateSecurities Act, a required registration statement (the “Required Registration Statement”) concerning the resale of any or all of the Registrable Securities. The Required Company agrees to use commercially reasonable efforts to cause the Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared become effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay be required to keep the costs Registration Statement effective until such date that is the earlier of (i) the date when all of the Registrable Securities registered thereunder shall have been sold or (ii) four (4) years after the Closing, subject to extension as set forth below (such date is referred to herein as the "Mandatory Registration Termination Date"). Thereafter, the Company shall be entitled to withdraw the Registration Statement and expenses thereofthe Investors shall have no further right to offer or sell any of the Registrable Securities pursuant to the Registration Statement (or any prospectus relating thereto). In the event the right of the selling Investors to use the Registration Statement (and the prospectus relating thereto) is delayed or suspended pursuant to Sections 4(c) or 10 hereof, for one time onlyif the events described in subsection (a)(i) or (ii) have not yet occurred, which costs and expenses the Company shall include “Blue Sky” fees for counsel for be required to extend the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested Mandatory Registration Termination Date by the Holdersame number of days as such delay or Suspension Period (as defined in Section 10 hereof). (b) In the event that the Registration Statement is not filed with the SEC within the time periods set forth in Section 3(a) hereof, the Company will issue to all Investors for no additional consideration, an additional 2.0% of the Units sold to each such Investor for each 30-day period thereafter until such time that the Registration Statement is filed with the SEC and payable at the end of each such 30-day period; provided, however, that should the Company redeem the Shares pursuant to the terms of Section 5 of the Company's Certificate of Designation of Preferences and Rights of Series A Preferred Stock dated January 22, 2002, the obligation to issue additional Units pursuant to this Section 3(b) shall cease. (c) In the event that the Registration Statement is not declared effective by the SEC within one hundred twenty (120) days after the Closing, as defined in the Securities Purchase Agreement, the Company will issue to all Investors for no additional consideration, an additional 2.0% of the Units sold to each such Investor for each 30-day period thereafter until such time that the Registration Statement is declared effective by the SEC and payable at the end of each such 30-day period; provided, however, that the obligation to issue additional Units pursuant to this Section 3(c) shall be stayed and extended during any period that the SEC is reviewing the Proxy Statement or the Registration Statement for a period of thirty (30) days, and provided, further, that should the Company redeem the Shares pursuant to the terms of Section 5 of the Company's Certificate of Designation of Preferences and Rights of Series A Preferred Stock dated January 22, 2002, the obligation to issue additional Units pursuant to this Section 3(c) shall cease.

Mandatory Registration. Solely in (a) On or prior to the event there is not then a current registration statement concerning the resale of the Registrable SecuritiesFiling Date, the Company Corporation shall prepare and file with the SEC on one occasion at its sole expense, upon Commission the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Shares for an offering to be made on a continuous basis pursuant to Rule 415, or if Rule 415 is not available for offers or sales of the Registrable Shares, for such other means of distribution of Registrable Shares as the Investors may specify. The Registration Statement required hereunder shall be on Form S–3 (except if the Corporation is not then eligible to register for resale the Registrable Shares on Form S–3, in which case the Registration Statement shall be on another appropriate form in accordance herewith). The Registration Statement required hereunder shall contain (except if otherwise directed by the Investors) the “Plan of Distribution” attached hereto as Annex A. Each Investor agrees to furnish to the Corporation a completed Questionnaire in the form attached to this Agreement as Annex B (a “Selling Shareholder Questionnaire”) not less than five (5) Trading Days prior to the Filing Date. The Corporation shall use its reasonable best efforts to cause the Registration Statement to be declared effective under the Securities has been Act (unless it becomes effective automatically upon filing) as promptly as possible after the filing thereof, and shall use its reasonable best efforts to keep such Registration Statement continuously effective under the Securities Act (including the filing of any necessary amendments, post-effective amendments and supplements) until such date when there are no longer any Registrable Shares outstanding (the “Effectiveness Period”). The Corporation shall telephonically request effectiveness of the Registration Statement (unless it becomes effective automatically upon filing) as of 5:00 pm Eastern Time on a Trading Day. The Corporation shall promptly notify the Investors via facsimile or email of the effectiveness of a Registration Statement on the same Trading Day that the Corporation telephonically confirms effectiveness with the Commission (if possible, otherwise as soon as practicable on the following Trading Day), which shall be the date requested for effectiveness of a Registration Statement (the “Effective Date”), unless the Registration Statement becomes automatically effective upon filing, in which case the “Effective Date” shall be the date on which the Registration Statement was filed. The Corporation shall, by 9:30 am Eastern Time on the Trading Day after the Effective Date, file a Rule 424(b) prospectus with the Commission. (b) If: (i) the Registration Statement is not filed on or prior to the Filing Date (if the Corporation files the Registration Statement without affording the Investors the opportunity to review and comment on the same as required by Section 5(b), the Corporation shall not be deemed to have satisfied this clause (i)); or (ii) the Registration Statement does not become automatically effective or is not declared effective by the SEC and Commission on or before the prospectus contained Effectiveness Date or (iii) after the Effectiveness Date, a Registration Statement ceases for any reason to remain continuously effective as to all Registrable Shares for which it is required to be effective, or the Investors are not permitted to utilize the Prospectus therein is available to resell such Registrable Shares in either event for use. Within ten 45 consecutive calendar days or for more than an aggregate of 90 calendar days during any 12-month period (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall which need not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within consecutive Trading Days); provided, no suspension period may begin until at least five (5) days thereafter. The Company shall use its best efforts have passed since any previous 45 consecutive calendar day suspension period (any such failure or breach being referred to have as an “Event,” and for purposes of clause (i) or (ii) the date on which such Required Registration Statementbreach occurs, and for purposes of clause (iii) the date on which such 45 or 90 calendar day period, as applicable, is exceeded, being referred to as an “Event Date”), then in addition to any other rights or remedies the Investors may have hereunder or under applicable law, Investors shall have the rights set forth in Section 9(e) of the Restated Certificate, Section 4(c) of the Warrants and each holder of Registrable Shares that are shares of Common Stock shall have the right to be issued by the Corporation, on each ninety (90) day anniversary of the Event Date (if the applicable Event shall not have been cured by such date) until the applicable Event is cured with respect to each such share of Common Stock, a fractional share of Common Stock calculated by dividing (x) the decrease in the Conversion Price (as defined in the Restated Certificate) of a Series A Preferred Share (as defined in the Restated Certificate) as a result of the same Event pursuant to Section 9(e) of Article IV of the Restated Certificate for the same period by (y) $7.46 (subject to equitable adjustment as a result of any stock dividend, stock split, combination, reverse split, reclassification or similar event after the date hereof). In no event will the holder of Series A Preferred Shares or Warrants be entitled to receive a cash settlement or other consideration in lieu of the adjustments, rights and remedies provided in this Section 2(b) in respect of any Event with respect to the Series A Preferred Shares or Warrants so held (and not with respect to other equity securities that may be held by such holder). (c) In the event that, in the reasonable judgment of the Corporation, it is advisable to suspend use of a Registration Statement required or Prospectus therein due to pending material developments or other events that have not yet been publicly disclosed and as to which the Corporation believes public disclosure would be filed detrimental to the Corporation, the Corporation shall notify all holders of Registrable Shares to such effect, and, upon receipt of such notice, each of the holders of Registrable Shares shall immediately discontinue any sales of Registrable Shares pursuant to such Registration Statement and/or Prospectus until each of such holders has received copies of a supplemented or amended prospectus or until the terms of this Purchase Warrant, declared effective holders are advised in writing by the SEC as soon as practicableCorporation that the then current prospectus may be used and has received copies of any additional or supplemental filings that are incorporated or deemed incorporated by reference in such prospectus. The Company Notwithstanding anything to the contrary herein, the Corporation shall pay not exercise its rights under the costs and expenses thereofpreceding sentence to suspend sales of Registrable Shares for a period in excess of 45 consecutive calendar days or for more than an aggregate of 90 calendar days during any 12-month period (which need not be consecutive Trading Days); provided, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holderno suspension period may begin until at least five (5) days have passed since any previous 45 consecutive calendar day suspension period.

Mandatory Registration. Solely in (a) If at anytime on or after December 15, 2005, any Additional Registrable Securities shall not have been registered by the event there is not Company pursuant to Section 2 hereof, then the Holders of at least a current registration statement concerning the resale majority of the Additional Registrable Securities, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice Securities (assuming conversion of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable Amended Notes and on or before the fifth anniversary date exercise of the Effective Date, a required registration statement (Amended Warrants) shall have the “Required Registration Statement”) concerning the resale right by delivery of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable notice to the Holder and undertake Company, to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided request that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement registration on Form F-3 S-3 covering the resale of all of the Additional Registrable Securities, in an amount sufficient to cover the resale of all the Additional Registrable Securities, issuable upon conversion of the Amended Notes and exercise of the Amended Warrants. The date on which the Company receives such notice is referred to herein as the “Demand Date.” In the event that Form S-3 is unavailable and/or inappropriate for such a registration of all the Additional Registrable Securities, the Company shall use such other form or forms as are available and appropriate for such a registration. The Company shall use its commercially reasonable efforts to cause such Additional Registration Statement to be filed under the Securities has been Act as promptly as practicable after receipt of notice of such demand, but in any event prior to 30 days following the Demand Date and to cause such Additional Registration Statement to be declared effective under the Securities Act as promptly as practicable, but in any event prior to 90 days following the Demand Date (the “Demand Effective Date”); provided that, if (1) the Additional Registration Statement is not declared effective by the SEC and Demand Effective Date, (2) the prospectus contained therein is Additional Registration Statement required to be filed by the Company pursuant to this Section 3 shall cease to be available for useuse by any Holder of the Amended Note which is named therein as a selling stockholder for any reason (including, without limitation, by reason of a stop order, a material misstatement or omission in such Additional Registration Statement or the information contained in such Additional Registration Statement having become outdated), or (3) the Company fails, refuses or is otherwise unable timely to issue, the Note Shares and/or Warrant Shares upon conversion of the Amended Notes or upon exercise of the Amended Warrants in accordance with the terms of thereof, respectively, or stock certificates therefor, then the Company shall pay to each Purchaser an amount equal to one percent (1%) per 30-day period of the purchase price paid for the Amended Notes purchased by such Amending Purchaser. Within ten Thereafter, for every 30 days that pass during which any of the events described in clauses (101), (2) days after receiving written notice from and (3) above occurs and is continuing (the Holder“Blackout Period”), the Company shall give notice pay to the other Holders each Amending Purchaser an additional amount equal to one percent (1%) of the Purchase Warrants advising that purchase price paid for the Company is proceeding with Amended Notes purchased by such registration statement Amending Purchaser. Each such payment shall be due within five days of the end of each calendar month of the Blackout Period until the termination of the Blackout Period and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafterafter such termination. Such payments shall be in partial compensation to the Amending Purchaser, and shall not constitute the Purchaser’s exclusive remedy for such events. The Blackout Period shall terminate upon (x) the effectiveness of the Additional Registration Statement in the case of clauses (1) and (2) above, and (z) delivery of such shares or certificates in the case of clause (3) above. (b) The Company shall use its best efforts to have such Required Registration Statement, and keep each other Additional Registration Statement required effective (pursuant to Rule 415, if available) at all times until such date as is the earlier of (i) the date on which all of the Additional Registrable Securities have been sold and (ii) the date on which the Additional Registrable Securities (in the opinion of counsel to each Purchaser and reasonably acceptable to legal counsel for the Company) may be immediately sold without restriction (including without limitation as to volume restrictions by each holder thereof) without registration under the Securities Act (the “New Registration Period”). (c) If the Additional Registrable Securities are registered for sale under the Securities Act, the Amending Purchasers shall cease any distribution of such shares under the Additional Registration Statement not more than once in any 12-month period, for up to 30 days, upon the request of the Company if: (x) such distribution would require the public disclosure of material non-public information concerning any transaction or negotiations involving the Company or any of its affiliates that, in the good faith judgment of the Company’s Board of Directors, would materially interfere with such transaction or negotiations, (y) such distribution would otherwise require premature disclosure of information that, in the good faith judgment of the Company’s Board of Directors, would adversely affect or otherwise be detrimental to the Company or (z) the Company proposes to file a registration statement under the Securities Act for the offering and sale of securities for its own account in an underwritten offering and the managing underwriter therefor shall advise the Company in writing that in its opinion the continued distribution of the Additional Registrable Securities would adversely affect the offering of the securities proposed to be filed pursuant to registered for the terms account of this Purchase Warrant, declared effective by the SEC as soon as practicableCompany. The Company shall pay promptly notify each Amending Purchaser at such time as (i) such transactions or negotiations have been otherwise publicly disclosed or terminated, or (ii) such non-public information has been publicly disclosed or counsel to the costs and expenses thereof, for one time Company has determined that such disclosure is not required due to subsequent events. (d) The Company shall permit a single firm of counsel designated by the Amending Purchasers to review such Additional Registration Statement with respect to the Additional Registrable Securities only, and all amendments and supplements thereto (collectively, the “Registration Documents”) a reasonable period of time prior to their filing with the SEC, and not file (or send) any Registration Documents in a form to which costs such counsel reasonably and expenses promptly objects. The sections of such Additional Registration Statement covering information with respect to the Amending Purchasers, the Amending Purchaser’s beneficial ownership of securities of the Company or the Amending Purchasers intended method of disposition of Additional Registrable Securities shall include “Blue Sky” fees for counsel for conform to the Underwriter and “Blue Sky” filing fees information provided to qualify the Purchase Warrants in those jurisdictions requested Company by each of the HolderAmending Purchasers.

Mandatory Registration. Solely in (a) On or before the event there is not then a current registration statement concerning the resale of the Registrable SecuritiesFiling Deadline, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as Commission a Registration Statement on Form F-3 S-3 as a "shelf" registration statement under Rule 415 covering the resale of at least 4,500,000 shares of Registrable Securities (such number subject to equitable adjustment for the events specified in Section 6 of the Certificate of Designation) then issuable on conversion of the Preferred Shares and exercise of the Warrants. The Registration Statement shall state, to the extent permitted by Rule 416 under the Securities Act, that it also covers such indeterminate number of shares of Common Stock as may be required to effect conversion of the Preferred Shares or exercise of the Warrants, as the case may be, to prevent dilution resulting from stock splits, stock dividends or similar events. The amount of Registrable Securities registered pursuant 3 to this paragraph (a) shall be allocated among the Holder in same proportion as the number of Preferred Shares purchased by each Holder under the Stock Purchase Agreement bears to the aggregate number of Preferred Shares purchased by all of the Holders thereunder; and any increase to the number of Registrable Securities has been declared effective registered pursuant to this Agreement shall be allocated among the Holders in same proportion as the number of Registrable Securities issuable to each Holder upon conversion of the Preferred Shares and exercise of the Warrants held by such Holder at the SEC time of such increase (assuming for such purpose that such conversion or exercise were to occur as of the time of such increase and the prospectus contained therein is available for use. Within ten (10without regard to any restriction or limitation on such conversion or exercise) days after receiving written notice from the Holder, the Company shall give notice bears to the other Holders aggregate number of Registrable Securities issuable to all of the Purchase Holders upon conversion of the Preferred Shares and exercise of the Warrants advising that held by such Holders at the Company is proceeding with such registration statement and offering to include therein Purchase Warrants time of such other Holdersincrease (assuming for such purpose that such conversion or exercise were to occur as of the time of such increase and without regard to any restriction or limitation on such conversion or exercise). The Company shall not be obligated amount of registered Registrable Securities that is allocated to any a Holder as provided herein is referred to herein as such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five Holder's "Allocated Registered Amount". (5b) days thereafter. The Company shall use its best efforts to have such Required cause the Registration Statement to become effective as soon as practicable following the filing thereof, but in no event later than the Registration Deadline. The Company shall respond promptly to any and all comments made by the staff of the Commission on the Registration Statement (but in no event later than ten (10) Business Days following the Company's receipt thereof), and shall submit to the Commission, within one (1) Business Day after the Company learns that no review of the Registration Statement will be made by the staff of the Commission or that the staff of the Commission has no further comments on the Registration Statement, and each other as the case may be, a request for acceleration of the effectiveness of the Registration Statement required to a time and date not later than forty eight (48) hours after the submission of such request, and maintain the effectiveness of the Registration Statement until the earlier to occur of (i) the date on which all of the Registrable Securities have been sold pursuant to the Registration Statement and (ii) the date on which all of the remaining Registrable Securities (in the reasonable opinion of counsel to the Holders of a majority of the Registrable Securities then outstanding) may be immediately sold to the public without registration and without regard to the amount of Registrable Securities which may be sold by a Holder thereof at a given time (the "Registration Period"). (c) If (A) the Registration Statement is not filed on or before the Filing Deadline or declared effective by the Commission on or before the Registration Deadline, (B) after the Registration Statement has been declared effective by the Commission, sales of Registrable Securities cannot be made by a Holder under the Registration Statement for any reason not within the exclusive control of such Holder (other than such Registrable Securities as are then freely saleable pursuant to Rule 144(k) under the Securities Act and other than during a Blackout Period), or (C) the Common Stock is not listed and freely tradeable on the Nasdaq SmallCap Market, the Nasdaq National Market System or the New York Stock Exchange (each of (A), (B) or (C) being referred to herein as a "Default Event"), and the such Default Event occurs as a result of any willful action or willful failure to act on the part of the Company, the Company shall pay to each Holder an amount equal to the lesser of (x) one percent (1%) per thirty calendar day period (prorated for any period of less than thirty calendar days) and (y) the highest rate permitted by applicable law, times the aggregate Liquidation Preference (as defined in the 4 Certificate of Designation) of the Preferred Shares held by such Holder, accruing daily and compounded monthly, from the date on which a Default Event occurs until the date on which such Default Event and any and all other Default Events have been cured and are no longer continuing. The amounts paid or payable by the Company hereunder shall be in addition to any other remedies available to each Holder at law or in equity or pursuant to the terms hereof, any other Transaction Document or the Certificate of this Purchase WarrantDesignation. Payments of cash pursuant hereto shall be made within five (5) days after the end of each period that gives rise to such obligation, provided that, if any such period extends for more than thirty (30) calendar days, payments shall be made at the end of each thirty-day period. (d) In the event that (A) the Registration Statement is not declared effective by the SEC as soon as practicable. The Company shall pay sixtieth (60th) Business Day following the costs and expenses thereofRegistration Deadline, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for (B) after the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested Registration Statement has been declared effective by the HolderCommission, sales of Registrable Securities cannot be made by a Holder under the Registration Statement for any reason not within the exclusive control of such Holder (other than such Registrable Securities as are then freely saleable pursuant to Rule 144(k) under the Securities Act and other than during a Blackout Period), or (C) the Common Stock is not listed and freely tradeable on the Nasdaq SmallCap Market, the Nasdaq National Market System or the New York Stock Exchange (each event described in clause (A), (B) or (C) being hereinafter referred to as a "Repricing Event"), in addition to the amounts which may be payable pursuant to paragraph 2(c) above (and any other remedies available to the Holders), the Fixed Conversion Price (as defined in the Certificate of Designation) for any conversion of Preferred Shares occurring on a Conversion Date (as defined in the Certificate of Designation) following the occurrence of such Repricing Event shall be deemed to be equal to the lesser of (i) the lowest Conversion Price (as defined in the Certificate of Designation) that would have applied had such conversion occurred during the period between the date on which a Repricing Event occurs and the date on which such Repricing Event and any and all other Repricing Events have been cured and are no longer continuing and (ii) the Fixed Conversion Price that would otherwise be in effect on such Conversion Date.

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the (a) The Company shall prepare and file as soon as practicable but in any event on or prior to twenty (20) business days after the date of execution of this Agreement by all parties hereto and of agreements on similar terms with all other holder(s) of Series 1 Warrants hereof (the "Filing Date") with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 S-3 covering the resale of all of the Registrable Securities not covered by existing registration statement 333-95333 (including, without limitation, those issuable upon exercise of the Exchange Warrant) in a secondary offering by Purchasers (as defined in the Registration Rights Agreement), provided that each Purchaser shall have provided timely to the Company all information needed for the Registration Statement regarding it and its plan of distribution. The Registration Statement (and each amendment or supplement thereto, and each request for acceleration of effectiveness thereof) shall be provided to (and subject to the approval of (which approval shall not be unreasonably withheld or denied)) each Initial Purchaser and its counsel at least three (3) days prior to its filing or other submission. If the initial Purchasers and their counsel do not provide such approval comments reflecting such changes as they require for such approval by the end of the second business day after being provided such documents, the Registration Deadline (as set forth in Section 6(b) below shall be extended for the number of days by which the time period between the providing of such documents and the receipt of approval or such comments exceeds the period ending at the end of the second business day after the documents are so provided. A filing which is timely hereunder shall be deemed to be a timely filing with respect to the Filing Date under Section 2.1 of the Registration Rights Agreement resulting from the transactions contemplated by this Agreement. (b) The Company shall cause the Registration Statement filed pursuant to the preceding Section 6(a) (the "Registration Statement") to become effective as soon as practicable, but in no event later than the ninetieth (90th) day after the Filing Date. If the Registration Statement is not declared effective by the SEC on or before the ninetieth (90th) day after the Filing Date (such date, the "Registration Deadline" and such failure a "Registration Failure") or if after such Registration Statement has been declared effective by the SEC SEC, sales of all the Registrable Securities, including without limitation all New Warrant Shares, cannot be made pursuant to the Registration Statement within two years after its effective date (by reason of a stop order or the Company's failure to update the Registration Statement or any other reason outside the sole control of the Purchasers) (a "Registration Suspension"), then the Company will make payments to CC in such amounts and at such times as shall be determined pursuant to this Section 6(b) as partial relief for the prospectus contained therein damages to CC by reason of any such delay in or reduction of its ability to sell the Registrable Securities (which remedy shall not be exclusive of any other remedies available at law or in equity except that it is available for useexclusive of those otherwise provided under Section 2.3 of the Registration Rights Agreement). Within ten (10) days after receiving written notice from In the Holderevent of a Registration Failure, the Company shall give notice pay to CC an amount equal to (A) $5,000 TIMES (B) the number of days of the first month following the Registration Deadline (prorated per day for a partial month), plus (C) $10,000 TIMES (D) the number of days of the any month following the first month after the Registration Deadline (prorated per day for partial months) prior to the other Holders date the Registration Statement filed pursuant to Section 6(a) is declared effective by the SEC. In addition, in the event of the Purchase Warrants advising that a Registration Suspension, the Company is proceeding with such registration statement and offering shall pay to include therein Purchase Warrants the Purchasers an amount equal to (E) $7,500 TIMES (F) the number of such other Holders. The Company shall months (prorated per day for partial months) from (x) the date on which sales of all the Registrable Securities first cannot be obligated made to any such other Holder unless such other Holder (y) the date on which sales of all the Registrable Securities can again be made. Amounts to be paid pursuant to this Section 6(b) shall accept such offer by notice be paid in writing to the Company cash within five (5) days thereafter. The Company after the end of each period that gives rise to such obligation, provided that, if any such period extends for more than thirty (30) days, payments shall use its best efforts to have be made for each such Required Registration Statement, and each other Registration Statement required to be filed pursuant to thirty (30) day period within five (5) days after the terms end of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holdersuch thirty (30) day period.

Mandatory Registration. Solely in Subject to the event there is not then a current registration statement concerning the resale terms and conditions of the Registrable Securitiesthis Agreement, the Company shall (i) on or prior to the Filing Deadline, prepare and file (A) with the Ontario Securities Commission a Canadian Prospectus Supplement allowing for, amongst other things, secondary market sales of Common Shares in the United States, and (B) prepare and file with the SEC on one occasion at its sole expensethe Canadian Prospectus Supplement pursuant to General Instruction II.L of Form F-10, upon or, if Form F-10 is not available to the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable Company, prepare and on or before the fifth anniversary date of the Effective Date, file a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if or such other form as may be available to the Company, in either case relating to and providing for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 a continuous basis pursuant to Rule 415, if applicable, and cause the SEC to declare such Registration Statement effective, and (ii) on or another appropriate form reasonably acceptable prior to the Holder 10th Business Day following receipt of each written notice by the Investor (a “Demand Notice”) delivered pursuant to the terms hereof, prepare and undertake to register file an additional Registration Statement covering the resale by the Investor of Registrable Securities not covered by the initial Registration Statement. Each Registration Statement prepared pursuant hereto shall register for resale at least the number of Common Shares such that the pro forma Common Shares then registered in a Registration Statement and unissued will be equal to the Required Registration Amount as of date the Registration Statement is initially filed with the SEC. In addition, if at any time, clause (ii) of the Registrable Securities on Form F-3 Required Registration Amount exceeds 250% of the number of Common Shares then registered in a Registration Statement and unissued, then the Company shall file as soon as reasonably practicable, but in any case prior to the applicable Filing Deadline, an additional Registration Statement covering the resale by the Holders of a number of Common Shares such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements pro forma Common Shares then registered in effect until such time as a Registration Statement on Form F-3 covering and unissued will be equal to not less than the resale Required Registration Amount. Each Canadian Prospectus Supplement and Registration Statement shall contain “Selling Stockholders” and “Plan of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the HolderDistribution” sections; provided, the Company shall give notice to the other Holders of the Purchase Warrants advising however, that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice Company’s obligations hereunder are contingent upon the Investor furnishing in writing to the Company within five (5) days thereafterfor the purpose of including publicly in the Registration Statement, as applicable, such information regarding the Investor, the securities of the Company held and beneficially owned by the Investor, the intended method of disposition of the Registrable Securities and any other information required to be included in the Registration Statement, as applicable, as shall be reasonably requested by the Company to effect the registration of the applicable securities. The Company shall use its best commercially reasonable efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable, but in no event later than the Effectiveness Deadline. By 9:30 am, New York time on the Business Day following the date of effectiveness, the Company shall file with the SEC in accordance with Rule 424 under the Securities Act, the final Prospectus to be used in connection with sales pursuant to such Registration Statement. Prior to the filing of the Canadian Prospectus Supplement with the Ontario Securities Commission and the Registration Statement with the SEC, the Company shall furnish a draft of the Canadian Prospectus Supplement and the Registration Statement to the Investor for their review and comment. The Investor shall furnish comments on the Canadian Prospectus Supplement and the Registration Statement to the Company within 24 hours of the receipt thereof from the Company. For the purposes hereof, the Investor shall pay be entitled to deliver a Demand Notice to the costs and expenses Company at any time during the Registration Period if at such time (i) no Registration Statement is then in effect which the Investor may use to resell Registrable Securities, or (ii) a Registration Statement is effective, but the holder has resold substantially all of the Common Shares registered on such Registration Statement. In addition, the Investor may deliver a Demand Notice to the Company at any time during the Registration Period during which (i) the Company does not have a class of securities listed, or approved for listing, on a national securities exchange registered pursuant to Section 6 of the Exchange Act, or (ii) Rule 144, as amended, would not allow the “tacking” of the holding period of the Convertible Debenture onto the holding period of the Conversion Shares issuable upon conversion thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holder.

Mandatory Registration. Solely in Not later than ten (10) calendar days following the event there is not then a current registration statement concerning the resale date of the Registrable SecuritiesCompany obtaining Shareholder Approval, the Company Corporation shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be or Registration Statements (as necessary) on Form F-3 SB-2 (or, if such form is unavailable for such a registration, on such other form as is available for such a registration and if unavailableregistration), the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all Registrable Securities that will be issuable by the Company to the Investor upon the prospective conversion of the Registrable Securities has been Secured Convertible Debentures and in connection with the prospective payment of interest on the convertible debentures, which Registration Statement(s) shall state that, in accordance with Rule 416 promulgated under the 1933 Act, such Registration Statement also covers such indeterminate number of additional shares of Common Stock as may become issuable upon stock splits, stock dividends or similar transactions. Not later than thirty (30) days following the date hereof the Company shall file with the SEC a registration statement to register for resale all the Warrants and the Warrant Shares (the “Warrant Registration Statement”). The Corporation shall have the Warrant Registration Statement be declared effective by the SEC and the prospectus contained therein is available for use. Within ten on or prior to nintey (1090) days after receiving written notice from the Holderfiling of the Warrant Registration Statement. Following notification that the SEC has no further comments on the Warrant Registration Statement, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within have five (5) days thereafterto get the Warrant Registration Statement effective. The In the event that the SEC prohibits the registration of the Warrants the Company may withdraw such Warrants from such registration statement. All of the Sections and provisions discussed below shall use its best efforts apply directly to have such Required the Warrant Registration Statement. Specifically, and each other with respect to failure to timely file the Registration Statement required and/or failure to be filed get the Registration Statement effective and/or keep the Registration Statement effective in the time periods provided shall similarly apply to the failure to file the Warrant Registration Statement and failure to get the Warrant Registration Statement deemed effective and failure to keep the Warrant Registration Statement effective pursuant to the terms of this Purchase Warrantapplicable time period, declared effective by except that the SEC as soon as practicable. The Company Corporation shall pay the costs sum of two percent 2% of the Class A Warrant Market Value and expenses thereof2% of the Class B Warrant Market Value of the Warrants, and not as a penalty, for one time onlyeach thirty (30) calendar day period, which costs and expenses shall include “Blue Sky” fees for counsel for pro rata, subject to the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holder10% cap as discussed below.

Mandatory Registration. Solely in Subject to the event there is not then a current registration statement concerning the resale terms and conditions of the Registrable Securitiesthis Agreement, the Company shall use its reasonable best efforts (i) on or prior to the Filing Deadline, prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a an initial Registration Statement on Form F-3 S-3 (or, if the Company is not then eligible, on Form S-1) or any successor form thereto covering the resale by the Investor of all Registrable Securities, and (ii) on or prior to the 30th calendar day following receipt of each written notice by the Investor (a “Demand Notice”) delivered pursuant to the terms hereof, prepare and file an additional Registration Statement covering the resale by the Investor of Registrable Securities has been declared effective not covered by the SEC and initial Registration Statement. Each Registration Statement prepared pursuant hereto shall register for resale at least the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice number of Common Shares equal to the other Holders Required Registration Amount as of date the Purchase Warrants advising that Registration Statement is initially filed with the Company is proceeding with such registration statement SEC. Each Registration Statement shall contain “Selling Stockholders” and offering to include therein Purchase Warrants “Plan of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafterDistribution” sections. The Company shall use its reasonable best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable, but in no event later than the Effectiveness Deadline. By 9:30 am, New York time on the Business Day following the date of effectiveness, the Company shall file with the SEC in accordance with Rule 424 under the Securities Act the final Prospectus to be used in connection with sales pursuant to such Registration Statement. Prior to the filing of the Registration Statement with the SEC, the Company shall furnish a draft of the DOCPROPERTY "CUS_DocIDChunk0" 105143320.6 Registration Statement to the Investor for their review and reasonable comment. The Investor shall furnish comments on the Registration Statement to the Company within 24 hours of the receipt thereof from the Company. For the purposes hereof, the Investor shall pay be entitled to deliver a Demand Notice to the costs and expenses Company at any time during the Registration Period if at such time (i) no Registration Statement is then in effect which the Investor may use to resell Registrable Securities, or (ii) a Registration Statement is effective, but the holder has resold substantially all of the Common Shares registered on such Registration Statement. In addition, the Investor may deliver a Demand Notice to the Company at any time during the Registration Period during which (i) the Company does not have a class of securities listed, or approved for listing, on a national securities exchange registered pursuant to Section 6 of the Exchange Act, or (ii) Rule 144, as amended, would not allow the “tacking” of the holding period of the Convertible Debenture onto the holding period of the Conversion Shares issuable upon conversion thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holder.

Mandatory Registration. Solely in (a) The Company shall be required to file an Initial Registration Statement on or prior to the event there is not then a current registration statement concerning the resale of Filing Date registering the Registrable SecuritiesSecurities for resale by the Holders as selling stockholders thereunder. On or prior to the Filing Date, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon an Initial Registration Statement for the written notice purpose of registering under the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning Securities Act the resale of all, or such portion as permitted by SEC Guidance (and the Company shall make a commercially reasonable effort to advocate with the SEC for the registration of all or the maximum number of the Registrable Securities as permitted by SEC Guidance) of the Registrable Securities by, and for the account of, the Holders as selling stockholders thereunder, that are not then registered on an effective Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415. No other securities shall be included in the Initial Registration Statement that is filed except for the Registrable Securities. The Required Each Registration Statement (including the Initial Registration Statement) shall be on Form F-3 contain the “Plan of Distribution” included in the Investor Questionnaire, in substantially the form of which was provided to Investors with the Securities Purchase Agreement (except if available for otherwise required pursuant to written comments received from the SEC upon a review of such a registration and if unavailable, the Registration Statement). The Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as cause a Registration Statement to be declared effective by the SEC under the Securities Act as promptly as practicable after the filing thereof, but in any event on Form F-3 covering or prior to the resale applicable Effectiveness Date. (b) The Company shall be required to keep a Registration Statement effective until such date that is the earlier of (the “Effectiveness Period”) (i) the date as of which all of the Holders as selling stockholders thereunder may sell all of the Registrable Securities has registered for resale thereon without restriction pursuant to Rule 144 or (ii) the date when all of the Registrable Securities registered thereunder shall have been declared effective by sold (such date is referred to herein as the SEC and the prospectus contained therein is available for use“Mandatory Registration Termination Date”). Within ten (10) days after receiving written notice from the HolderThereafter, the Company shall give notice be entitled to withdraw such Registration Statement and the Holders shall have no further right to offer or sell any of the Registrable Securities registered for resale thereon pursuant to the respective Registration Statement (or any prospectus relating thereto). (c) Notwithstanding any other provision of this Agreement, if any SEC Guidance sets forth a limitation on the number of Registrable Securities to be registered in the Initial Registration Statement (and the Company has made a commercially reasonable effort to advocate with the SEC for the registration of all or a greater number of Registrable Securities), the number of Registrable Securities to be registered on such Registration Statement will be reduced on a pro rata basis among the Investors based on the total number of unregistered Warrant Shares held by such Investors on a fully diluted basis. The Company shall file a new registration statement as soon as reasonably practicable covering the resale by the Holders of not less than the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants number of such other HoldersRegistrable Securities that are not registered in the Initial Registration Statement. The Company shall not be obligated liable for liquidated damages under Section 5(a) as to any Registrable Securities which are not permitted by the SEC to be included in a Registration Statement due solely to SEC Guidance from time to time. In such other Holder unless case, any liquidated damages payable under Section 5(a) shall be calculated to apply only the percentage of Registrable Securities which are permitted in accordance with SEC Guidance to be included in such other Holder shall accept such offer by notice in writing Registration Statement. (d) If during the Effectiveness Period, subject to Section 3(a) and Section 3(c), the Company within five becomes aware that the number of Registrable Securities at any time exceeds the number of Registrable Securities then registered for resale in a Registration Statement, then the Company shall file as soon as reasonably practicable an additional Registration Statement covering the resale by the Holders of not less than the number of such Registrable Securities that are not then registered. (5e) days thereafterNotwithstanding any other provision of this Agreement, if during the Effectiveness Period any of the Registrable Securities become eligible for resale without restriction pursuant to Rule 144 (the “Rule 144 Eligible Securities”) then the number of Registrable Securities outstanding at any one time shall be reduced by the number of Rule 144 Eligible Securities and the Company may at its option file an amendment to any Registration Statement to reduce the number of Registrable Securities accordingly. The Company shall use acknowledges that the Company’s obligation to file its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to periodic disclosure documents for the terms twelve (12) month period preceding the date of sale is a “restriction” as that term is used in the first sentence of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the HolderSection 3(e).

Mandatory Registration. Solely in the event there is not then (a) The Company shall be required to file a current registration statement concerning the resale Registration Statement on or prior to each Filing Date until all of the Registrable SecuritiesSecurities are registered for resale by the Investors as selling stockholders thereunder. On or prior to each Filing Date, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon a Registration Statement for the written notice purpose of registering under the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning Securities Act the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for all, or such a registration and if unavailableportion as permitted by SEC Guidance (provided that, the Company shall register use commercially reasonable efforts to advocate with the resale SEC for the registration of all or the maximum number of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale as permitted by SEC Guidance), of the Registrable Securities by, and for the account of, the Investors as selling stockholders thereunder, that are not then registered on Form F-3 an effective Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415. Each Registration Statement shall contain (unless otherwise directed by the Majority Holders) substantially the "Plan of Distribution" in the Investor Questionnaire the form of which is attached to the Securities Purchase Agreement as soon as such form is availableAppendix I. Subject to the terms of this Agreement, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as cause a Registration Statement to be declared effective under the Securities Act as promptly as possible after the filing thereof, but in any event on Form F-3 covering or prior to the resale applicable Effectiveness Date. (b) The Company shall be required to keep a Registration Statement effective until such date that is the earlier of (i) the date as of which all of the Investors as selling stockholders thereunder may sell all of the Registrable Securities has registered for resale thereon without restriction pursuant to Rule 144(k) (or any successor rule thereto) promulgated under the Securities Act or (ii) the date when all of the Registrable Securities registered thereunder shall have been declared effective by sold (such date is referred to herein as the SEC and the prospectus contained therein is available for use"Mandatory Registration Termination Date"). Within ten (10) days after receiving written notice from the HolderThereafter, the Company shall give notice be entitled to withdraw such Registration Statement and the Investors shall have no further right to offer or sell any of the Registrable Securities registered for resale thereon pursuant to the respective Registration Statement (or any prospectus relating thereto). (c) Notwithstanding any other Holders provision of this Agreement and subject to the payment of liquidated damages in Section 4(a), if any SEC Guidance sets forth a limitation of the Purchase Warrants advising number of Registrable Securities to be registered on a particular Registration Statement (and notwithstanding that the Company is proceeding used commercially reasonable efforts to advocate with the SEC for the registration of all or a greater number of Registrable Securities), unless otherwise directed in writing by an Investor as to its Registrable Securities, the number of Registrable Securities to be registered on such registration statement Registration Statement will first be reduced by Registrable Securities represented by Underlying Shares (applied, in the case that some Underlying Shares may be registered, to the Investors on a pro rata basis based on the total number of unregistered Underlying Shares held by such Investors on a fully diluted basis), and offering second by Registrable Securities represented by Purchased Shares (applied, in the case that some Purchased Shares may be registered, to include therein Purchase Warrants the Investors on a pro rata basis based on the total number of unregistered Purchased Shares held by such Investors). (d) If during the Effectiveness Period, subject to Section 3(a), the number of Registrable Securities at any time exceeds 100% of the number of Purchased Shares then registered for resale in a Registration Statement, then the Company shall file as soon as reasonably practicable an additional Registration Statement covering the resale by the Investors of not less than the number of such other Holders. Registrable Securities. (e) The Company offer and sale of the Registrable Securities pursuant to any Registration Statement shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holderunderwritten.

Mandatory Registration. Solely in 187 The Company shall be required to file an Initial Registration Statement on or prior to the event there is not then a current registration statement concerning the resale of Filing Date registering the Registrable SecuritiesSecurities for resale by the Holders as selling stockholders thereunder. On or prior to the Filing Date, the Company shall prepare and file with the SEC on one occasion at its sole expensean Initial Registration Statement for the purpose of registering under the Securities Act the resale of all, upon the written notice or such portion as permitted by SEC Guidance of the Holder at Registrable Securities by, and for the account of, the Holders as selling stockholders thereunder, that are not then registered on an effective Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415. No other securities shall be included in the Initial Registration Statement that is filed except for the Registrable Securities. Each Registration Statement (including the Initial Registration Statement) shall contain the “Plan of Distribution” in substantially the form of attached to the Selling Stockholder Questionnaire attached hereto as Exhibit A (except if otherwise required pursuant to SEC Guidance). The Company shall cause a Registration Statement to be declared effective by the SEC under the Securities Act as promptly as practicable after the filing thereof, but in any time commencing six event on or prior to the applicable Effectiveness Date. .188 The Company shall be required to keep a Registration Statement effective until such date that is the earlier of (6i) the date that is twelve (12) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary effective date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, or (ii) the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of date when all of the Registrable Securities has registered thereunder shall have been declared effective by sold (the SEC and the prospectus contained therein is available for use“Effectiveness Period”). Within ten (10) days after receiving written notice from the HolderThereafter, the Company shall give notice be entitled to withdraw such Registration Statement and the Holders shall have no further right to offer or sell any of the Registrable Securities registered for resale thereon pursuant to the respective Registration Statement (or any prospectus relating thereto). .189 Notwithstanding any other provision of this Agreement, if any SEC Guidance sets forth a limitation on the number of Registrable Securities to be registered in the Initial Registration Statement, the number of Registrable Securities to be registered for each Holder on such Registration Statement will be reduced on a pro-rata basis. The Company shall file a new Registration Statement as soon as reasonably practicable covering the resale by the Holders of not less than the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants number of such other HoldersRegistrable Securities that are not registered in the Initial Registration Statement. The Company shall not be obligated liable for liquidated damages under Section 5(a) as to any Registrable Securities which are not permitted by the SEC to be included in a Registration Statement due to SEC Guidance. In such other Holder unless case, any liquidated damages payable under Section 5(a) shall be calculated to apply only the percentage of Registrable Securities which are permitted in accordance with SEC Guidance to be included in such other Holder shall accept such offer by notice in writing Registration Statement. .190 If during the Effectiveness Period, subject to Section 3(a) and Section 3(c), the Company within five becomes aware that the number of Registrable Securities at any time exceeds the number of Registrable Securities then registered for resale in a Registration Statement, then the Company shall file as soon as reasonably practicable an additional Registration Statement covering the resale by the Holders of not less than the number of such Registrable Securities that are not then registered. .191 Notwithstanding any other provision of this Agreement, if during the Effectiveness Period any of the Registrable Securities become eligible for resale without restriction pursuant to Rule 144 (5the “Rule 144 Eligible Securities”) days thereafterthen the number of Registrable Securities outstanding at any one time shall be reduced by the number of Rule 144 Eligible Securities and the Company may at its option file an amendment to any Registration Statement to reduce the number of Registrable Securities accordingly. The Company shall use acknowledges that the Company’s obligation to file its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to periodic disclosure documents for the terms twelve (12) month period preceding the date of sale is a “restriction” as that term is used in the first sentence of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the HolderSection 3(e).

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the (a) The Company shall prepare and not later than the Registration Date file with the SEC on one occasion at its sole expense, upon to register for resale under the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of Securities Act the Registrable Securities on Form S-1 held by (or another appropriate form reasonably acceptable then issuable to) the Holders for sale pursuant to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other HoldersMandatory Registration. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall will use its best efforts to have such Required the Mandatory Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon thereafter as is practicable. The Company agrees to use its best efforts to keep the Mandatory Registration Statement continuously effective until the third anniversary of the Mandatory Registration Statement's effective date with the SEC or such shorter period that will terminate when all of the Registrable Securities covered by the Mandatory Registration Statement have been sold pursuant to the Mandatory Registration Statement. The Company further agrees to supplement or amend the Mandatory Registration Statement if required by the rules, regulations or instructions applicable to the registration form used by the Company for such Mandatory Registration Statement or by the 1993 Act or by any other rules and regulations thereunder for shelf registration or if reasonably requested by Holders with respect to information relating to such Holders, and to use its best efforts to cause any such amendment to become effective and such Mandatory Registration Statement to become usable as soon as thereafter practicable. The Company agrees to furnish to the Holders of Registrable Securities copies of any such supplement or amendment promptly after its being used or filed with the SEC. Notwithstanding anything to the contrary contained herein, the Company's obligation above shall pay extend only to the costs inclusion of the Registrable Securities in a registration statement filed under the Securities Act. The Company shall have no obligation to assure the terms and expenses conditions of distribution, to obtain a commitment from an underwriter relative to the sale of the Registrable Securities or to otherwise assume any responsibility for the manner, price or terms of the distribution of the Registrable Securities. (i) If following the Registration Date an underwritten secondary public offering (the "Offering") is to be undertaken by the Company on behalf of Conseco, Inc. and any affiliates thereof, for one time onlyincluding Great American Reserve Insurance Company and/or Beneficial Standard Life Insurance Company (in the aggregate, which costs "Conseco") pursuant to demand rights granted by the Company to Conseco or any of its affiliates under existing Registration Rights Agreements dated April 23, 1996 and expenses the Holders receive written notification (the "Notification") from Conseco and the managing underwriter of such Offering: (A) that in the opinion of such underwriter the success of the proposed offering will be materially adversely effected by virtue of the public resale rights granted to the Holders pursuant to subparagraph 2(a) above; and (B) inviting inclusion in the Offering of Registrable Securities of the Holders to be offered and sold on the same terms as are being offered by Conseco; then, and in that event, in modification of the rights granted under subparagraph (2)(a) above, the Holders may either: (i) include the Registrable Securities covered by such Notification in the Offering on the same terms and conditions as have been offered to Conseco and thereafter concurrently suspend sales of the Registrable Securities pursuant to the Mandatory Registration Statement (and if the Offering does not include 100% of the Registrable Securities, then resales thereof pursuant to the Mandatory Registration Statement may not commence until up to 120 days following the closing date of the Offering, in the discretion of the managing underwriter); or (ii) if the Holder elects not to include the Registrable Securities covered by the Notification in the Offering, it shall agree to suspend sales of the Registrable Securities covered by the Mandatory Registration Statement until up to 120 days following the closing date of the offering (in the discretion of the managing underwriter); (ii) If in the underwritten secondary Offering the managing underwriter advises the Company in writing that in its opinion, based upon market and other conditions, the offering cannot include 100% of the Registrable Securities of the Holders and 100% of the securities of Conseco, then the Company shall include “Blue Sky” fees for counsel for in such Offering such number of securities of Conseco and the Underwriter Holders as are determined in the discretion of the managing underwriter, with the relevant percentage of such securities to be offered on behalf of Conseco and “Blue Sky” filing fees the Holders to qualify be determined in accordance with the Purchase Warrants ratio in those jurisdictions requested by which Conseco and the HolderHolders have provided in aggregate principal amount debenture financing to the Company.

Mandatory Registration. Solely (a) As promptly as possible after the date hereof, and in any event no later than 30 days after the event there is not then a current registration statement concerning date of this Agreement (the resale date which occurs 30 days after the date of the Registrable Securitiesthis Agreement, the “Filing Date”) the Company shall will prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement on Form S-3 (or such other appropriate form) for the “Required Registration Statement”) concerning purpose of registering under the resale of Securities Act all of the Registrable SecuritiesShares for resale by, and for the account of, each Purchaser as an initial selling stockholder thereunder (the “Mandatory Registration Statement”). The Required Mandatory Registration Statement shall be permit the Purchasers to offer and sell, on Form F-3 if available for such a registration and if unavailabledelayed or continuous basis pursuant to Rule 415 under the Securities Act, the Company shall register the resale of the Registrable Securities on Form S-1 any or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Shares. Such Registration Statement also shall cover, to the extent allowable under the Securities has been declared effective by the SEC Act and the prospectus contained therein is available for use. Within ten rules promulgated thereunder (10) days after receiving written notice including Rule 416), such indeterminate number of additional shares of Common Stock resulting from the Holderstock splits, the Company shall give notice stock dividends or similar transactions with respect to the Registrable Shares. Such Registration Statement shall not include any shares of Common Stock or other Holders securities for the account of any other holder without the prior written consent of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other HoldersPurchasers. The Company shall not be obligated agrees to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required cause the Mandatory Registration Statement to be declared effective as soon as possible but in no event later than (the “Mandatory Effective Date”) one hundred and twenty (120) calendar days after the Filing Date (if no SEC review of the Mandatory Registration Statement) or one hundred fifty (150) calendar days after the Filing Date (if there is an SEC review of the Mandatory Registration Statement), and each other Registration Statement required to be filed pursuant to file with the terms SEC, within three (3) Business Days of this Purchase Warrantthe date that the Company is notified (orally or in writing, declared effective whichever is earlier) by the SEC as soon as practicablethat 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 pay notify each Purchaser in writing promptly (and in any event within one (1) Business Day) after the costs 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 expenses thereof(ii) the second (2nd) anniversary of the Mandatory Effective Date; provided, that in either case such date shall be extended by the amount of time of any Suspension Period. Thereafter, the Company shall be entitled to withdraw the Mandatory Registration Statement and, upon such withdrawal, the Purchasers 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 Purchasers 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 Purchasers 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 Purchasers, of the Mandatory Registration Statement (and the Prospectus relating thereto), then the right of the Purchasers 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 fifteen consecutive Business Days during any consecutive twelve (12) month period; provided, however, that in no event, without the prior written consent of a Purchaser and upon entry between the Company and Purchaser of a confidentiality agreement with respect to such material non-public information, shall the Company disclose to such Purchaser any of the facts or circumstances regarding material non-public information giving rise to such suspension. During the Suspension Period, the Purchasers 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 time only(1) Business Day, which costs 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 expenses the Prospectus relating thereto) pursuant to this Section 2(c), the Company will use its commercially reasonable efforts to as promptly as possible lift any suspension, provide the Purchasers with revised Prospectuses, if required, and will notify the Purchaser of their ability to effect offers or sales of Registrable Shares pursuant to or in reliance upon the Mandatory Registration Statement. (c) It shall include “Blue Sky” fees for counsel be a condition precedent to the obligations of the Company to register Registrable Shares for the Underwriter account of an Purchaser pursuant to this Section 2 or Section 3 that such Purchaser furnish to the Company such information regarding itself, the Registrable Securities held by it, and “Blue Sky” filing fees the method of disposition of such securities as shall be required to qualify effect the Purchase Warrants in those jurisdictions requested by the Holderregistration of such Purchaser’s Registrable Securities.

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities(a) Subject to Sections 2(b) below, the Company shall prepare (and shall cause the Guarantors to), as soon as practicable, but no later than the 60th calendar day following the Issue Date, file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, Commission a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration relating to the offer and if unavailable, the Company shall register the resale sale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable by the Holders in accordance with the methods of distribution elected by the Requisite Holders; and, thereafter, shall use its best efforts (and shall cause each Guarantor to use its best efforts) to cause such initial Registration Statement to be declared Effective under the Holder Securities Act no later than the 150th calendar day following the Issue Date. Further, if, at any time during the Effectiveness Period and undertake to register in any event upon the resale later of (i) 180 days following the date as of which the then most recent registration statement registering the issuance and/or sale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities Company’s securities has been declared effective by the SEC Commission, and the prospectus contained therein is available for use. Within ten (10ii) 60 days after receiving written notice from the Holderdate as of which substantially all of the Registration Securities included in any prior Registration Statement have been sold, less than 100% of the Registrable Securities are included in an Effective Registration Statement, then subject to the following provisions of this Section 2, the Company shall give notice to the other Holders (and shall cause each of the Purchase Warrants advising that Guarantors to), as expeditiously as possible, in consultation with the Company is proceeding Requisite Holders and their counsel, prepare and file with the Commission (i) such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated pre- or post-effective amendments to any existing Registration Statement as shall be necessary to Register the offer and sale of previously excluded Registrable Securities, or (ii) one or more separate Registration Statements with respect to previously excluded Registrable Securities, and use its commercially reasonable best efforts to cause such other Holder unless existing Registration Statement, as so amended, or such other Holder shall accept such offer by notice in writing separate Registration Statement(s), as applicable, to be declared Effective as soon as possible. Notwithstanding the foregoing, only Holders who have timely delivered to the Company within five (5) days thereaftertheir signed and completed Notice and Questionnaire shall be entitled to be named as a selling securityholder in any Registration Statement or to use the Prospectus forming a part thereof for offers and resales of Registrable Securities. The Company shall use its best efforts With respect to have such Required any particular Registration Statement, a Holder of Registrable Securities covered thereby is sometimes referred to as a “Selling Securityholder.” (b) If, by reason of a 415 Reduction, the total number of Registrable Securities exceeds the maximum amount of securities that may be included in any Registration Statement, then the Company shall (and shall cause the Guarantors to) include in such Registration (i) first, the Notes, the related Guarantees and the shares of Common Stock issued or issuable upon conversion thereof, up to the maximum amount of securities that may be included in such Registration, and (ii) second, the balance of the Registrable Securities, in each other case, pro rata, among the Selling Securityholders in proportion, as nearly as practicable, to their respective number of shares of Common Stock included among their Registrable Securities; and (c) In the event that the Commission (i) determines that a Registration Statement required (A) constitutes a primary offering of securities of the Company, or (B) requires any Holder to be filed named as an underwriter and such Holder does not consent to being named as an underwriter in such Registration Statement, or (ii) promulgates any rule or issues any bulletin, no action letter, telephone interpretation or other guidance which establishes, changes or clarifies the criteria or standards for a registration and sale of securities on a continuous or delayed basis pursuant to Rule 415 so as to (x) limit the terms number of this Purchase WarrantRegistrable Securities that may be included in a Registration Statement, declared effective or (y) delay the filing or Effectiveness of any Registration Statement by reason of a previously filed registration statement registering the Company’s securities, then the Company may (and may permit the Guarantors to) reduce the number of Registrable Securities to be included in such Registration (a “415 Reduction”) in the manner set forth in Section 2(b) above. (d) Unless otherwise agreed to in writing by the SEC as soon as practicable. The Company Requisite Holders, no Registration Statement shall pay the costs and expenses thereofinclude, for one time onlyby amendment or otherwise, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holdersecurities other than Registrable Securities.

Mandatory Registration. Solely in If, at any time during the event there Demand Registration Period, the Company receives a written notice (the "Demand Notice", and the date of Company's receipt of the Demand Notice, "Demand Notice Date") from any of the Shareholders, and so long as the Demand Registration Conditions have been satisfied as of such Demand Notice Date, the Company will prepare and file with the Commission a Registration Statement covering the resale from time to time of all Registrable Securities for an offering to be made on a continuous and/or delayed basis pursuant to Rule 415 or the equivalent thereof under Canadian securities laws, as applicable (the "Shelf Registration Statement"). The Registration Statement may be on either Form F-10 or Form F-3 or S-3 (except if the Company is not then eligible to register for resale the Registrable Securities on either such form, in which case such registration will be on Form F-1 or S-1, and if for any reason the Company is not then eligible to register for resale the Registrable Securities on Form F-1 or S-1, then on such other form of Shelf Registration Statement as is then available to effect a current registration statement concerning the for resale of the Registrable Securities) and will contain (except if otherwise required pursuant to written comments received from the Commission upon a review of such Registration Statement) a "Plan of Distribution" section, substantially in the form attached hereto as Annex A, as the same may be amended in accordance with the provisions of this Agreement, provided that if the Company is then a WKSI as of the applicable filing date, such Shelf Registration Statement shall be an automatic Shelf Registration Statement. As permitted under the MJDS, any such Registration Statement that is filed on Form F-10 (an "MJDS Registration Statement") may refer to selling securityholders generically, in contemplation of the filing, following the effectiveness of such Registration Statement, of a prospectus supplement to the prospectus included therein (the "MJDS Prospectus Supplement"), naming the selling Holders on the basis of the information provided in the Selling Holder Questionnaire. The Company will use its reasonable best efforts to cause the Registration Statement to be declared or otherwise become effective under the Securities Act and, in the case of an MJDS Registration Statement, the Company shall prepare file the MJDS Prospectus Supplement, as soon as possible but, in any event, no later than the Effectiveness Deadline, and file with will use its reasonable best efforts to keep the SEC on one occasion at its sole expenseRegistration Statement (or a Subsequent Shelf) continuously effective under the Securities Act from the date of effectiveness of such Registration Statement until such date when all Registrable Securities covered by the Registration Statement cease to be Registrable Securities as determined by the counsel to the Company (the "Effectiveness Period"). For purposes of this Agreement, upon the written notice "Demand Registration Conditions" means (A) as of the Holder at any time commencing six applicable Demand Notice Date, the Common Shares are listed on a Trading Market in the United States; and (6B) months after the date that this Warrant becomes exercisable and on or before prior to the fifth anniversary date of the Effective Demand Notice Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register have received (or caused to be prepared) audited financial statements of Success TMS to the resale extent such audited financial statements are required by applicable U.S. securities laws, rules and regulations (including, but not limited to, Rule 3-05 of Regulation S-X under the Securities Act) for the filing of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required applicable Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holder.

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after on the date that this Warrant becomes exercisable and on or before until five (5) years from the fifth anniversary date of the Effective Initial Exercise Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 S-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 S-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 S-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include reasonable “Blue Sky” fees for counsel for the Underwriter Placement Agent and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holder.

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the (i) The Company shall use its best efforts to prepare and file with the SEC Commission not later than the Filing Date a Registration Statement or Registration Statements (as necessary) on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning Form S-3 covering the resale of all of the Registrable Securities. The Required Registration Statement shall be on In the event that Form F-3 if available S-3 is unavailable and/or inappropriate for such a registration and if unavailableregistration, the Company shall use such other form as is available and appropriate for such a registration. Any Registration Statement prepared pursuant hereto shall register the for resale at least that number of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable shares of Common Stock equal to the Holder and undertake Shares. The Company shall cause the Registration Statement to register be declared effective under the resale of Securities Act as promptly as possible after the Registrable Securities on Form F-3 as soon as such form is availablefiling thereof, but in any event prior to the Effectiveness Date, provided that if the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been is not declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the HolderEffectiveness Date, the Company shall give notice pay to the other Holders each Purchaser an amount equal to one percent (1%) of the Purchase Warrants advising purchase price paid for the Shares purchased by such Purchaser. Thereafter, for every 30 days that pass without the Registration Statement being declared effective after the Effectiveness Date, the Company is proceeding with shall pay to such registration statement and offering Purchaser an additional amount equal to include therein Purchase Warrants one percent (1%) of the purchase price paid for the Shares purchased by such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five Purchaser. (5ii) days thereafter. The Company shall use its best efforts to keep each Registration Statement effective pursuant to Rule 415 at all times until such date as is the earlier of (i) the date on which all of the Registrable Securities have been sold and (ii) the date on which the Registrable Securities (in the opinion of counsel to the Purchasers) may be immediately sold without restriction (including without limitation as to volume by each holder thereof) without registration under the Securities Act (the "Registration Period"). (iii) If any offering pursuant to a Registration Statement pursuant to Section 2 hereof involves an underwritten offering (which may only be with the consent of the Company), the Purchasers shall have the right to select legal counsel and an investment banker or bankers and manager or managers to administer the offering, which investment banker or bankers or manager or managers shall be reasonably satisfactory to the Company. (iv) Notwithstanding the foregoing, if the Company shall furnish to the Purchasers a certificate signed by the President or Chief Executive Officer of the Company (a "Demand Deferral Notice") stating that, in the good faith judgment of the Board of Directors of the Company, it would be seriously detrimental to the Company and its shareholders for such Required Registration Statement to be filed and it is therefore essential to defer the filing of such Registration Statement, and each other then the Company shall have the right to defer such filing for a period of not more than 30 days after the 30th day after the Closing Date; provided, however, that the Company may not utilize this right more than once in any 12-month period. (v) If Registrable Securities are registered for sale under the Securities Act, the Purchasers shall cease any distribution of such shares under the Registration Statement required not more than twice in any 12-month period, for up to 15 days each, upon the request of the Company if: (x) such distribution would require the public disclosure of material non-public information concerning any transaction or negotiations involving the Company or any of its affiliates that, in the good faith judgment of the Company's Board of Directors, would materially interfere with such transaction or negotiations, or (y) such distribution would otherwise require premature disclosure of information that, in the good faith judgment of the Company's Board of Directors, would adversely affect or otherwise be filed pursuant detrimental to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicableCompany. The Company shall pay promptly notify the costs and expenses thereofPurchasers at such time as (i) such transactions or negotiations have been otherwise publicly disclosed or terminated, for one time only, which costs and expenses shall include “Blue Sky” fees for or (ii) such non-public information has been publicly disclosed or counsel for to the Underwriter and “Blue Sky” filing fees Company has determined that such disclosure is not required due to qualify the Purchase Warrants in those jurisdictions requested by the Holdersubsequent events.

Mandatory Registration. Solely in At any time after the event there date that is not then 180 days from the date hereof, if the Company shall at any time and from time to time receive from the Required Holders a current registration statement concerning written request that the resale Required Holders have a present intent to sell their Registrable Securities and desire that the Company register all or a portion of the Registrable SecuritiesSecurities (a "DEMAND NOTICE", and the date of such Notice, the "DEMAND NOTICE DATE"), at one or more times, then the Company shall prepare and prepare, and, as soon as practicable but in no event later than the Filing Deadline, file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to available for use by the Holder and undertake to register the resale Company permitting registration of the Registrable Securities on Form F-3 for resales as soon as such form is availablecontemplated herein, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale number of all of the Registrable Securities has been declared effective as may be requested by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice an Investor to the other Holders of the Purchase Warrants advising that the Company is proceeding with be included in such registration statement and offering to include therein Purchase Warrants of such other HoldersRegistration Statement. The Company shall not be obligated deliver a copy of the Demand Notice to any such all other Holder unless such other Holder holders of Registrable Securities promptly following receipt of the Demand Notice. The Registration Statement prepared pursuant hereto shall accept such offer by notice in writing register for resale at least the number of shares of Common Stock equal to the Company within five Required Registration Amount determined as of date the Registration Statement is initially filed with the SEC. The Registration Statement shall contain (5except if otherwise directed by the Required Holders) days thereafter. the "Selling Shareholders" and "Plan of Distribution" sections in substantially the form attached hereto as Exhibit B. The Company shall use its best efforts to have such Required Registration Statement, and each other the Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable, but in no event later than the Effectiveness Deadline. The Promptly following effectiveness of such Registration Statement, the Company shall pay file the costs final prospectus used in connection with such Registration Statement, after insertion of all applicable dates and expenses thereofother missing information and the removal of all notices of the preliminary nature of the prospectus, for one time onlywith the SEC, which costs prospectus is to be filed pursuant to Rule 424 promulgated under the 1933 Act. Notwithstanding the foregoing, if the Company has filed a registration statement (an "EXCLUDED OFFERING REGISTRATION STATEMENT") pursuant to an Excluded Offering (as defined in the Warrant), then the Required Holders shall not be permitted to submit a Demand Notice to the Company until such time as the earlier to occur of (x) 270 days after the initial filing of the Excluded Offering Registration Statement and expenses shall include “Blue Sky” fees for counsel for (y) the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holdereffective date of such Excluded Offering Registration Statement.

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the (i) The Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable Securities and on or before the fifth anniversary date of the Effective Date, a required registration statement Exchange Commission (the “Required Registration StatementCommission”) concerning not later than the 60th day (the “Filing Date”) after the Closing Date under the Purchase Agreement a Registration Statement or Registration Statements (as necessary) on Form SB-2 covering the resale of all of the Registrable Securities, in an amount sufficient to cover the resale of the BATL Shares and the shares issuable upon exercise of the Warrant. The Required Registration Statement shall be on In the event that Form F-3 if available SB-2 is unavailable and/or inappropriate for such a registration and if unavailableregistration, the Company shall use such other form as is available and appropriate for such a registration. Any Registration Statement prepared pursuant hereto shall register the for resale at least that number of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable shares of Common Stock equal to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafterShares. The Company shall use its best efforts to have such Required Registration Statement, and each other cause the Registration Statement required to be filed pursuant declared effective under the Securities Act as promptly as possible after the filing thereof, but in any event prior to the terms of this Purchase Warrant240th day after the Filing Date (such day referred to herein as the “Effective Date”); provided that, if the Registration Statement is not filed by the Filing Date or declared effective by the SEC Effective Date (each a “Penalty Event”) then the Company shall issue a Penalty Warrant to the Purchaser per 30-day period following the Penalty Event that the Registration Statement has not been filed and/or that the Effective Date has not occurred. Each such Penalty Warrant shall be due within five days of the end of each 30-day period. The Registration Statement shall be appropriately revised, and/or amended promptly following each such 30-day period, as soon as practicable. appropriate, to include for resale any additional shares issuable upon exercise of such Penalty Warrants. (ii) The Company shall pay use its best efforts to keep each Registration Statement effective pursuant to Rule 415 at all times until such date as is the costs earlier of (i) the date on which all of the Registrable Securities have been sold and expenses thereof, for one time only, (ii) the date on which costs the Registrable Securities (in the opinion of counsel to each Purchaser and expenses shall include “Blue Sky” fees for acceptable to legal counsel for the Underwriter Company) may be immediately sold without restriction (including without limitation as to volume restrictions by each holder thereof) without registration under the Securities Act (the “Registration Period”). (iii) If any offering pursuant to a Registration Statement, pursuant to Section 2 hereof, involves an underwritten offering (which may only be with the consent of the Company), each Purchaser shall have the right to select legal counsel and “Blue Sky” filing fees an investment banker or bankers and manager or managers to qualify administer to the Purchase Warrants in those jurisdictions requested by offering, which investment banker or bankers or manager or managers shall be reasonably satisfactory to the HolderCompany.

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the The Company shall prepare and prepare, and, as soon as practicable, but in no event later than the Filing Deadline, file with the SEC a Registration Statement on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning Form S-3 covering the resale of all of the Registrable Securities. The Required Registration Statement In the event that Form S-3 is unavailable for such a registration, the Company shall be on Form F-3 if use such other form as is available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake Required Holders, subject to the provisions of Section 00. The Registration Statement prepared pursuant hereto shall register for resale at least the resale number of shares of Common Stock equal to the Required Registration Amount as of the Registrable Securities on Form F-3 as soon as date such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering is initially filed with the resale of all of the Registrable Securities has been declared effective SEC. The Registration Statement shall contain (except if otherwise directed by the SEC Required Holders) the “Selling Stockholders” and “Plan of Distribution” sections in substantially the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. form attached hereto as Exhibit B. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable, but in no event later than the Effectiveness Deadline for such Registration Statement. By 9:30 a.m. on the Business Day immediately following the Effective Date of the applicable Registration Statement, the Company shall file with the SEC in accordance with Rule 424 under the 1933 Act the final prospectus to be used in connection with sales pursuant to such Registration Statement. Notwithstanding anything to the contrary contained in this Agreement, other than during an Allowable Grace Period (as defined below), the Company shall ensure that, when filed and at all times while effective, each Registration Statement and the prospectus used in connection with such Registration Statement will disclose (whether directly or through incorporation by reference to other SEC filings to the extent permitted) all material information regarding the Company and its securities. In no event shall the Company include any securities other than Registrable Securities and the Placement Agent Warrant Shares (as defined in the Securities Purchase Agreement) on any Registration Statement without the prior written consent of the Required Holders. The Company shall pay not after the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for date hereof until the Underwriter and “Blue Sky” filing fees Effective Date of the Registration Statement required to qualify the Purchase Warrants in those jurisdictions requested by the Holderbe filed pursuant to this Section 00 enter into any agreement providing any such right to any of its security holders.

Mandatory Registration. Solely in The Company shall file with the event there United States Securities and Exchange Commission ("SEC"), on the date which is on or before forty-five (45) calendar days after the Closing Date (the "FILING DEADLINE") a Registration Statement on Form S-3 (or, if Form S-3 is not then available, on such form of Registration Statement as is then available to effect a current registration statement concerning of all of the Registrable Securities) covering the resale of the Shares and any Additional Investment Right Shares issued upon exercise of the Additional Investment Rights (the "INITIAL REGISTRATION STATEMENT"). The Registrable SecuritiesSecurities included in the Initial Registration Statement shall be registered on behalf of the Investors as set forth in Section 11(k) hereof. The Initial Registration Statement (and each amendment or supplement thereto, and each request for acceleration of effectiveness thereof) shall be provided to the Initial Investors and their counsel at least 5 Business Days prior to its filing or other submission. If for any reason (including, but not limited to, a determination by the staff of the SEC that all or any portion of the Registrable Securities cannot be included in the Initial Registration Statement (an "SEC Determination")) the Initial Registration Statement declared effective by the SEC does not include all of the Registrable Securities (any such shares that are not included being the "UNCOVERED SHARES"), the Company shall prepare and file with the SEC on one occasion at its sole expenseSEC, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as practicable, but in any event prior to the tenth (10th) Business Day after becoming aware of the existence of any Uncovered Shares (such form is availabledate referred to herein as the "UNCOVERED SHARE FILING DEADLINE"), provided that either (a) an amendment (the Company shall maintain "UNCOVERED SHARES AMENDMENT") to the effectiveness of all Registration Statements then in effect until such time as a Initial Registration Statement on Form F-3 covering the resale of all effecting a registration of the Registrable Securities has been declared effective by Uncovered Shares or (b) a registration statement which registers the SEC Uncovered Shares (the "UNCOVERED SHARES REGISTRATION Statement"). The Uncovered Shares Amendment or the Uncovered Shares Registration Statement (and the prospectus contained therein is available each amendment or supplement thereto, and each request for use. Within ten (10acceleration of effectiveness thereof) days after receiving written notice from the Holder, the Company shall give notice be provided to the Initial Investors and their counsel at least concurrently with its filing or other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereaftersubmission. The Company shall use its best reasonable efforts to have such Required Registration Statement, and cause each other of the Initial Registration Statement required and the Uncovered Shares Amendment or the Uncovered Shares Registration Statement to be filed pursuant to the terms of this Purchase Warrant, declared become effective by the SEC as soon as practicable. The Company shall pay practicable after the costs and expenses filing thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holder.

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the 7.1.1 The Company shall prepare and file with file, on the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth month anniversary date of the Effective Closing Date, with the Commission a required registration statement (the “Required shelf” Registration Statement”) concerning the Statement covering all Registrable Securities for a secondary or resale of all of the Registrable Securitiesoffering to be made on a continuous basis pursuant to Rule 415. The Required Registration Statement shall be on Form F-3 S-3 (or if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is not available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafteron another form appropriate for such registration in accordance herewith). The Company shall use its best efforts to have such Required Registration Statement, and each other cause the Registration Statement to be declared effective under the Securities Act within ninety (90) days of the filing (including filing with the Commission a request for acceleration of effectiveness in accordance with Rule 461 promulgated under the Securities Act within five (5) business days of the date that the Company is notified (orally or in writing, whichever is earlier) by the Commission that a Registration Statement will not be “reviewed,” or not be subject to further review) and to keep such Registration Statement continuously effective under the Securities Act until such date as is the earlier of (x) the date when all Registrable Securities covered by such Registration Statement have been sold, (y) two (2) years from the effective date of the Registration Statement or (z) with respect to the Investor, such time as all Registrable Securities held by the Investor may be sold without any restriction pursuant to Rule 144(k) as determined by the counsel to the Company pursuant to a written opinion letter, addressed to the Company’s transfer agent to such effect (the “Effectiveness Period”). For purposes of the obligations of the Company under this Agreement, no Registration Statement shall be considered “effective” with respect to any Registrable Securities unless such Registration Statement lists the Investor as “Selling Stockholders” and includes such other information as is required to be filed disclosed with respect to Investor to permit it to sell its Registrable Securities pursuant to such Registration Statement. Upon the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses initial filing thereof, for one time onlythe Registration Statement shall cover at least 100% of the Purchased Shares and 100% of the Warrant Shares. Such Registration Statement also shall cover, which costs to the extent allowable under the Securities Act and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees Rules promulgated thereunder (including Securities Act Rule 416), such indeterminate number of additional shares of Common Stock resulting from stock splits, stock dividends or similar transactions with respect to qualify the Purchase Warrants in those jurisdictions requested by the HolderRegistrable Securities.

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the 2.1.1 The Company shall prepare and file with the SEC SEC, on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and which is on or before forty-five (45) days after the fifth anniversary date of the Effective Date, a required registration statement Closing Date (the “Required "Filing Deadline") a Registration Statement”) concerning the resale Statement on Form S-3 (or, if Form S-3 is not available, on such form of Registration Statement as is then available to effect a registration of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable; provided, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until convert such time as other form to Form S-3, or file a Registration Statement replacement registration statement on Form F-3 covering S-3 promptly after the first date on which it meets such requirement) pertaining to the resale of all of the Registrable Securities has been declared effective and, to the extent allowable under the Securities Act and the rules promulgated thereunder, to such indeterminate number of additional shares of Common Stock as may become issuable pursuant to provisions to prevent dilution resulting from stock splits, stock dividends or similar transactions (the "Mandatory Registration Statement"). The Mandatory Registration Statement shall contain, unless otherwise required by applicable law or the SEC, the "Selling Shareholders" and "Plan of Distribution" section of the Prospectus in a form reasonably satisfactory to the Warrant Holders based upon information provided by the SEC selling shareholder. The Registrable Securities included in the Mandatory Registration Statement shall be registered on behalf of the Warrant Holders set forth on Schedule 1 hereof. The Mandatory Registration Statement (and each amendment or supplement thereto, and each request for acceleration of effectiveness thereof) shall be provided to the Warrant Holders and their counsel at least five (5) business days prior to its filing or other submission; such notice to specify the securities to be registered, the proposed numbers and amounts thereof and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, date thereafter by which the Company shall give notice must receive the Warrant Holders' written indication if any Warrant Holder does not wish to include their Registrable Securities in such Registration Statement and advising the other Warrant Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holderstheir rights under this Section 2. The Company shall not be obligated file the Mandatory Registration Statement and use its best efforts to cause all of the Registrable Securities (unless an Warrant Holder has indicated otherwise with respect to all or any portion of such other Holder unless such other Holder shall accept such offer by notice in writing Warrant Holder's Registrable Securities pursuant to the Company within five (5preceding sentence) days thereafterto be registered under the Securities Act, in connection with the sale or other disposition by the Warrant Holders of the Registrable Securities so registered. The Company shall use its best efforts to have such Required cause the Mandatory Registration Statement, and each other as amended, to become effective as soon as practicable after the filing thereof. The Mandatory Registration Statement shall only cover the Registrable Securities and any stockholder of the Company that is entitled to participate under, and exercises any existing, piggy-back registration rights. 2.1.2 If the Mandatory Registration Statement (i) has not been declared or ordered effective within one-hundred and twenty (120) days after the Closing Date (the "Four Month Period") or (ii) has been declared effective, but prior to the second anniversary of the Closing Date ceases for any reason to remain continuously effective as to all Registrable Securities for which it is required to be filed effective or the Holders are not permitted to utilize the Prospectus therein to resell such Registrable Securities, in each case for a period of 15 consecutive Trading Days or more than an aggregate of any 25 Trading Days, in each case during which a Warrant Holder could exercise the Warrant and sell the Warrant Shares at a profit, during a 12-month period (any such failure or breach being referred to as an "Event", and for purposes of clause (i) the date on which such Event occurs, or for purposes of clause (ii) the date on which such 15 or 25 Trading Day period, as applicable, is exceeded, being referred to as an "Event Date"), then in addition to any other rights the Holders may have hereunder or under applicable law, on each monthly anniversary of each such Event Date (if the applicable Event shall not have been cured by such date) until the date on which the applicable Event is cured, the Company shall pay to each Holder an amount in cash, as damages and not as a penalty, equal to 0.5% per month of the aggregate exercise price applicable under the terms of the Warrants to the Registrable Securities then held by such Holder. If the Company fails to pay any liquidated damages pursuant to this Section in full within seven business days after the date payable, the Company will pay interest thereon at a rate of 16% per annum (or such lesser maximum amount that is permitted to be paid by applicable law) to the Holder, accruing daily from the date such liquidated damages are due until such amounts, plus all such interest thereon, are paid in full. The damages pursuant to the terms hereof shall apply on a daily pro-rata basis for any portion of this Purchase Warrant, declared effective by a month prior to the SEC as soon as practicabledate on which an Event is cured. The Company shall have the option to pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants any damages in those jurisdictions requested by the Holdercash or Common Stock.

Mandatory Registration. Solely in the event there is not then (a) The Company shall be required to file a current registration statement concerning the resale Registration Statement on or prior to each Filing Date until all of the Registrable SecuritiesSecurities are registered for resale by the Investors as selling stockholders thereunder. On or prior to each Filing Date, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon a Registration Statement for the written notice purpose of registering under the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning Securities Act the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for all, or such a registration and if unavailableportion as permitted by SEC Guidance (provided that, the Company shall register use commercially reasonable efforts to advocate with the resale SEC for the registration of all or the maximum number of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale as permitted by SEC Guidance), of the Registrable Securities by, and for the account of, the Investors as selling stockholders thereunder, that are not then registered on Form F-3 an effective Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415. Each Registration Statement shall contain (unless otherwise directed by the Majority Holders) substantially the “Plan of Distribution” in the Investor Questionnaire the form of which is attached to the Securities Purchase Agreement as soon as such form is availableAppendix I. Subject to the terms of this Agreement, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as cause a Registration Statement to be declared effective under the Securities Act as promptly as possible after the filing thereof, but in any event on Form F-3 covering or prior to the resale applicable Effectiveness Date. (b) The Company shall be required to keep a Registration Statement effective until such date that is the earlier of (i) the date as of which all of the Investors as selling stockholders thereunder may sell all of the Registrable Securities has registered for resale thereon without restriction pursuant to Rule 144 (or any successor rule thereto) promulgated under the Securities Act or (ii) the date when all of the Registrable Securities registered thereunder shall have been declared effective by sold (such date is referred to herein as the SEC and the prospectus contained therein is available for use“Mandatory Registration Termination Date”). Within ten (10) days after receiving written notice from the HolderThereafter, the Company shall give notice be entitled to withdraw such Registration Statement and the Investors shall have no further right to offer or sell any of the Registrable Securities registered for resale thereon pursuant to the respective Registration Statement (or any prospectus relating thereto). (c) Notwithstanding any other Holders provision of this Agreement and subject to the payment of liquidated damages in Section 4(a), if any SEC Guidance sets forth a limitation of the Purchase Warrants advising number of Registrable Securities to be registered on a particular Registration Statement (and notwithstanding that the Company is proceeding used commercially reasonable efforts to advocate with the SEC for the registration of all or a greater number of Registrable Securities), unless otherwise directed in writing by an Investor as to its Registrable Securities, the number of Registrable Securities to be registered on such registration statement Registration Statement will first be reduced by Registrable Securities represented by Underlying Shares (applied, in the case that some Underlying Shares may be registered, to the Investors on a pro rata basis based on the total number of unregistered Underlying Shares held by such Investors on a fully diluted basis), and offering second by Registrable Securities represented by Purchased Shares (applied, in the case that some Purchased Shares may be registered, to include therein Purchase Warrants the Investors on a pro rata basis based on the total number of unregistered Purchased Shares held by such Investors). (d) If during the Effectiveness Period, subject to Section 3(a), the number of Registrable Securities at any time exceeds 100% of the number of Purchased Shares then registered for resale in a Registration Statement, then the Company shall file as soon as reasonably practicable an additional Registration Statement covering the resale by the Investors of not less than the number of such other Holders. Registrable Securities. (e) The Company offer and sale of the Registrable Securities pursuant to any Registration Statement shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holderunderwritten.

Mandatory Registration. Solely (i) The Company agrees to file under the Securities Act with the SEC as promptly as practicable but in any event within 15 days after the Closing Date (the “Filing Deadline”) a Registration Statement on Form S-3 or, in the event there the Company is not then a current registration statement concerning the resale of the Registrable Securitieseligible to use Form S-3, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailableS-1, the Company shall register covering the resale of the Registrable Securities on Form S-1 issued or another appropriate form reasonably acceptable issuable pursuant to the Holder and undertake Subscription Agreement. For the avoidance of doubt, the Registration Statement shall also cover the Performance Adjustment Shares as may become issuable pursuant to register the resale Section 8.5 of the Registrable Securities on Form F-3 Subscription Agreement. Accordingly, the number of shares of Common Stock initially included in such Registration Statement shall be no less than 2,625,000, consisting of (i) 2,100,000 shares immediately issuable pursuant to the Subscription Agreement and (ii) 525,000 shares, which represents the maximum number of Performance Adjustment Shares issuable pursuant to the Subscription Agreement. Such Registration Statement (and each amendment or supplement thereto, and each request for acceleration of effectiveness thereof) shall be provided in accordance with Section 4(c) below to the Purchasers and their counsel prior to its filing or other submission. (ii) The Company agrees to cause the Registration Statement to become effective as soon as such form is availablepracticable but in any event no later than the date (the “Effectiveness Deadline”) of the earlier of (x) the 90th calendar day following the Closing Date, provided that if the SEC reviews and has written comments to the filed Registration Statement that would require the filing of a pre-effective amendment thereto with the SEC, then Effectiveness Deadline shall be the 120th calendar day following the Closing Date, or (y) the 5th trading day following the date that the Company shall maintain is notified by the effectiveness of all Registration Statements then in effect until such time as a SEC that the initial Registration Statement will not be reviewed or it is no longer subject to review and comments. The date on Form F-3 covering which the resale of all of the Registrable Securities has been Registration Statement is actually declared effective by the SEC and shall be referred to herein as the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the “Effectiveness Date.” The Company shall give notice notify the Purchasers by facsimile or e-mail as promptly as practicable, and in any event, within one (1) Business Day, after any such Registration Statement is declared effective and shall provide the Purchasers with copies of any related Prospectus to be used in connection with the sale or other Holders disposition of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holderssecurities covered thereby. The Company shall keep the Registration Statement continuously effective during the Effectiveness Period. (iii) In the event of (x) the Registration Statement is not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing filed with the SEC on or prior to the Company within five Filing Deadline, or (5y) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other the Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, is not declared effective by the SEC as soon as practicable. The on or prior to the Effectiveness Deadline, the Company shall pay the costs and expenses thereof, for one time onlymake a monthly payment in an amount of US$[0.945 million], which costs and expenses shall include “Blue Sky” fees for counsel represents 1.5% of the Aggregate Purchase Price (as defined in the Subscription Agreement), to the Purchasers as the exclusive remedy (at law or equity) for the Underwriter and “Blue Sky” damages to the Purchasers by reason of any such delay in or reduction of their ability to sell the Registrable Securities, until the filing fees to qualify or effectiveness, as applicable. Such payments shall be paid in U.S. dollar in immediately available funds at the Purchase Warrants in those jurisdictions requested by the Holderend of each month during which any of (x) or (y) above remains outstanding.

Mandatory Registration. Solely in (a) Subject to Section 5.4(g) and during the event there is not then a current registration statement concerning period commencing at any time after two (2) years following the resale date hereof, one or more holders of the Registrable SecuritiesSecurities (the "Holders") owning in the aggregate in excess of 50% of the issued and outstanding Registrable Securities may make a written request to the Company for registration (a "Demand Registration") under and in accordance with the provisions of the Securities Act of up to all of the Registrable Securities owned by such Holder or Holders (a "Registration Statement"). Within five (5) business days after receipt of such request, the Company will serve written notice (the "Notice") of such request to all other Holders and will include in such registration all Registrable Securities with respect to which the Company receives written requests for inclusion therein within twenty (20) business days after it gives the Notice to the applicable Holder. Unless the Holder or Holders demanding the Demand Registration shall agree in writing, no other party, including the Company (but excluding another Holder of a Registrable Security) shall be permitted to offer securities under any such Demand Registration. The Company shall use its reasonable best efforts, as expeditiously as practicable, but in no event later than sixty (60) days after receipt of a request from a Holder for a Demand Registration, to prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of with respect to the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable (the "Filing Date") and shall use its reasonable best efforts to cause the Holder Registration Statement to become effective as promptly as possible, and undertake to register in all events within sixty (60) days from the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Filing Date. The Company shall maintain the effectiveness of all Registration Statements then in effect until use its reasonable best efforts to keep such time as a Registration Statement on Form F-3 covering effective until the resale earlier of (i) the date when all of the Registrable Securities has registered thereunder shall have been sold and (ii) the second anniversary of the date on which the Registration Statement is declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice or, with respect to any unsold registered Warrant Shares, one year from the Holder, the Company shall give notice to the other Holders expiration date of the Purchase Warrants advising that if later than such second anniversary (the Company is proceeding with such registration statement and offering "Registration Withdrawal Date"). (b) The Holders are entitled to include therein Purchase Warrants one (1) Demand Registration regardless of such other Holdersthe person or persons making demand. The Company shall not be obligated deemed to have effected a Demand Registration unless and until such Demand Registration is declared effective. (c) If the managing underwriter or underwriters of a Demand Registration (or in the case of a Demand Registration not being underwritten, a majority of the Holders) advise the Company in writing that in its or their opinion the principal amount and/or number of securities proposed to be sold in such Demand Registration exceeds the principal amount and/or number of securities which can be sold in such offering without an adverse effect on such offering, the Company will include in such registration only the number of securities which, in the opinion of such underwriter or underwriters (or Holders, as the case may be) can be sold, selected pro rata among the Holders which have requested to be included in such Demand Registration; PROVIDED, that if any Holder has requested to be included in such Demand Registration and all Registrable Securities which such Holder has requested to be included in such Demand Registration pursuant to this Section 5 are not so included, such Holder shall be entitled to an additional Demand Registration hereunder (with all expenses of registration relating to such additional Demand Registration to be borne by the Company) not earlier than six months after such earlier Demand Registration was requested and on the same terms and conditions as would have applied to such Holder had such earlier Demand Registration not been made. (d) If any Demand Registration is an underwritten offering with respect to any issue of Registrable Securities, the Holders of a majority of such other Holder unless Registrable Securities to be included in such other Holder shall accept such offer by notice in writing Demand Registration will select the investment banker or bankers and manager or managers to administer the offering and one counsel to the sellers of such Registrable Securities in such offering; PROVIDED, that such investment bankers and managers be of nationally recognized standing and reasonably satisfactory to the Company. (e) In the event that (i) the Registration Statement to be filed by the Company pursuant to Section 5.2(a) above is not filed with the SEC by the Filing Date, (ii) such Registration Statement is not declared effective by the SEC within sixty (60) days from the Filing Date, or (iii) such Registration Statement is not maintained as effective by the Company for the period set forth in Section 5.2(a) above (each a "Registration Default") then the Company will pay each Investor (pro rated on a daily basis), as liquidated damages for such failure and not as a penalty one percent (1%) of the purchase price of shares of Common Stock purchased from the Company and held by the Investor for the first month and two percent (2%) for every month thereafter until such Registration Statement has been filed, and in the event of late effectiveness (in case of clause (ii) above) or lapsed effectiveness (in the case of clause (iii) above), one percent (1%) of the purchase price of shares of Common Stock purchased from the Company and held by the Investor for the first month and two percent (2%) for every month thereafter (regardless of whether one or more such Registration Defaults are then in existence, but without duplication of liquidated damages) until such Registration Statement has been declared effective. Such payment of the liquidated damages shall be made to the Investors in cash, within five (5) calendar days thereafterof demand, provided, however, that the payment of such liquidated damages shall not relieve the Company from its obligations to register the Securities pursuant to this Section. If the Company does not remit the payment to the Investors as set forth above, the Company will pay the Investors' reasonable costs of collection, including attorneys' fees, in addition to the liquidated damages. The registration of the Securities pursuant to this provision shall not affect or limit the Investors' other rights or remedies as set forth in this Agreement. (f) From and after the date of this Agreement, the Company shall use its best efforts not, without the prior consent of the Holders of at least a majority of the Registrable Securities then outstanding, enter into any agreement with any holder or prospective holder of any securities of the Company that would allow such holder or prospective holder to have include such Required Registration Statementsecurities in any registration filed under this Section 5.2, and each other Registration Statement required to be filed pursuant to unless under the terms of this Purchase Warrantsuch agreement, declared effective by such holder or prospective holder may include such securities in any such registration only to the SEC as soon as practicable. The Company shall pay extent that the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for inclusion of such securities will not reduce the Underwriter and “Blue Sky” filing fees to qualify amount of the Purchase Warrants in those jurisdictions requested by Registrable Securities of the HolderHolders that are included.

Mandatory Registration. Solely in The Company shall, within twenty (20) calendar days following the event there is not then a current registration statement concerning First Closing Date (the resale of the Registrable Securities“Filing Deadline”), the Company shall prepare and file with the SEC on one occasion at its sole expensea Registration Statement covering the maximum number of Registrable Securities as shall be permitted to be included thereon in accordance with applicable SEC rules, upon regulations and interpretations, including but not limited to Rule 415 under the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective DateSecurities Act, a required registration statement (the “Required Registration Statement”) concerning so as to permit the resale of all such Registrable Securities by the Investors at then-prevailing market prices (and not fixed prices), subject to the aggregate number of authorized share capital of the Registrable SecuritiesCompany’s shares of Common Stock then available for issuance in its Organizational Documents. The Required Registration Statement shall be on Form F-3 if available for register only Registrable Securities issuable under the First Closing Debentures unless otherwise approved by the Investors. The Investors and its counsel shall have a reasonable opportunity to review and comment upon such a registration Registration Statement and if unavailableany amendment or supplement to such Registration Statement and any related prospectus prior to its filing with the SEC, and the Company shall register give due consideration to all reasonable comments; provided, however that if such comments are not provided within two days then the Filing Deadline and First Registration Statement Effectiveness Date shall be extended by the number of days from the date the Registration Statement is received by Investors until it or its counsel provides comments. The Investors shall furnish all information reasonably requested by the Company for inclusion therein. The Company shall have the Registration Statement and any amendment declared effective by the SEC no later than the First Registration Statement Effectiveness Date. The Company shall keep the Registration Statement effective pursuant to Rule 415 promulgated under the Securities Act and available for the resale of by the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale Investors of all of the Registrable Securities has been declared effective by covered thereby at all times until the SEC date on which the Investors shall have resold all the Registrable Securities covered thereby and no available amount of Registrable Securities issuable under the prospectus First Closing Debentures remains (the “Registration Period”). The Registration Statement (including any amendments or supplements thereto and prospectuses contained therein is available for usetherein) shall not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein, or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading. Within ten (10) days after receiving written notice from In the Holderevent that the Registration Statement becomes stale, the Company shall give notice immediately file one or more post-effective amendments to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required obtain an effective Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holder.

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after on the date that this Warrant becomes exercisable and on or before until five (5) years from the fifth anniversary date of the Effective Initial Exercise Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 S-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 S-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 S-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter Placement Agent and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holder.

Mandatory Registration. Solely (a) As soon as possible and, in any event, within ten (10) business days after the event there is not then a current registration statement concerning the resale of the Registrable SecuritiesClosing, the Company shall will prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (on Form S-1 for the “Required Registration Statement”) concerning purpose of registering under the resale of Securities Act all of the Registrable SecuritiesShares for resale by, and for the account of, the Investors as selling stockholders thereunder (the "Registration Statement"). The Required Registration Statement shall be permit the Investors to offer and sell, on Form F-3 if available for such a registration and if unavailabledelayed or continuous basis pursuant to Rule 415 under the Securities Act, the Company shall register the resale of the Registrable Securities on Form S-1 any or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other HoldersShares. The Company shall not be obligated agrees to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other cause the Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared become effective by the SEC as soon as practicablepracticable following its filing. The Company shall pay be required to keep the costs Registration Statement effective until such date that is the earlier of (i) the date when all of the Registrable Shares registered thereunder shall have been sold or (ii) the second anniversary of the Closing, subject to extension as set forth below (such date is referred to herein as the "Mandatory Registration Termination Date"). Thereafter, the Company shall be entitled to withdraw the Registration Statement and expenses thereofthe Investors shall have no further right to offer or sell any of the Registrable Shares pursuant to the Registration Statement (or any prospectus relating thereto). In the event the right of the selling Investors to use the Registration Statement (and the prospectus relating thereto) is delayed or suspended pursuant to Sections 4(c) or 10 hereof, for one time only, which costs and expenses the Company shall include “Blue Sky” fees for counsel for be required to extend the Underwriter and “Blue Sky” filing fees to qualify Mandatory Registration Termination Date beyond the Purchase Warrants in those jurisdictions requested second anniversary of the Closing by the Holdersame number of days as such delay or Suspension Period (as defined in Section 10 hereof). (b) The offer and sale of the Registrable Shares pursuant to the Registration Statement shall not be underwritten. (c) If the Registration Statement has not been filed with the SEC by the tenth business day after the Closing Date under the Securities Purchase Agreement (such tenth business day being the "Penalty Date"), then, on the fifth business day after the Penalty Date, the Company will execute and deliver to each Initial Investor a common stock purchase warrant of the Company (each such warrant being an "Investor Warrant"). The Investor Warrant delivered to each Initial Investor (I) shall entitle such Initial Investor to purchase that number of shares of Class A Common Stock of the Company equal to the product of (x) the number of business days after the Penalty Date (up to a maximum of four) on which the Registration Statement is filed with the SEC, multiplied by (y) 1/8 of one share, multiplied by (z) the total number of shares purchased by such Initial Investor on the Closing Date, (ii) shall have an exercise price per share equal to the purchase price per share of Common Stock under the Securities Purchase Agreement, (iii) shall not include any "cashless exercise" provisions or anti-dilution protection, other than so-called "structural" anti-dilution protection, (iv) shall expire on the fifth anniversary after the Closing Date, and (v) shall otherwise contain customary terms.

Mandatory Registration. Solely in No later than 180 days after the event there is not then a current registration statement concerning the resale of the Registrable SecuritiesClosing, the Company shall will prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement on Form S-3 (or, if Form S-3 is not then available to the “Required Registration Statement”Company, on such form of registration statement that is then available to effect a registration of all Registrable Shares) concerning for the resale purpose of registering under the Securities Act all of the Registrable SecuritiesShares for resale by, and for the account of, the Holders as selling stockholders thereunder (the "Registration Statement"). The Required Registration Statement shall permit the Holders 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. Such Registration Statement also shall cover, to the extent allowable under the Securities Act and the rules promulgated thereunder (including Rule 416), such indeterminate number of additional shares of Common Stock resulting from stock splits, stock dividends or similar transactions with respect to the Registrable Shares. The Company agrees to use commercially reasonable efforts to cause the Registration Statement to become effective as soon as practicable after filing, but in no event later than 120 days after filing. The Company shall be on Form F-3 if available for required to keep the Registration Statement, as amended, effective until such a date that is the earlier of (i) two years after the Closing Date, (ii) the date when all of the Registrable Shares registered thereunder shall have been sold, or (iii) such time as all the Registrable Shares held by the Holders can be sold pursuant to Rule 144(k) and without compliance with the registration and if unavailablerequirements of the Securities Act (such date is referred to herein as the "Mandatory Registration Termination Date"). Thereafter, the Company shall register be entitled to withdraw the resale Registration Statement and the Holders shall have no further right to offer or sell any of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable Shares pursuant to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the (or any prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holdersrelating thereto). The Company shall not be obligated to grant any such other Holder unless such other Holder shall accept such offer by notice in writing registration rights that are pari passu with or senior to the Company within five (5) days thereafterregistration rights of the Holders under this Agreement if such registration rights would adversely affect the Holders' ability to sell Registrable Shares pursuant to the Registration Statement. The Company shall use its best efforts represents that no stockholders other than the Holders have the right to have such Required Registration Statement, and each sell any Common Stock or other Registration Statement required to be filed securities of the Company pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the HolderRegistration Statement.

Mandatory Registration. Solely in The Company shall, by April 10, 2025 (the event there is not then a current registration statement concerning the resale of the Registrable Securities“Filing Deadline”), the Company shall prepare and file with the SEC on one occasion at its sole expensea Registration Statement covering the maximum number of Registrable Securities as shall be permitted to be included thereon in accordance with applicable SEC rules, upon regulations and interpretations, including but not limited to Rule 415 under the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective DateSecurities Act, a required registration statement (the “Required Registration Statement”) concerning so as to permit the resale of all such Registrable Securities by the Investors at then-prevailing market prices (and not fixed prices), subject to the aggregate number of authorized share capital of the Registrable SecuritiesCompany’s shares of Common Stock then available for issuance in its Organizational Documents. The Required Registration Statement shall be on Form F-3 if available for register only Registrable Securities issuable under the First Closing Debentures and the First Closing Warrants unless otherwise approved by the Investors. The Investors and its counsel shall have a reasonable opportunity to review and comment upon such a registration Registration Statement and if unavailableany amendment or supplement to such Registration Statement and any related prospectus prior to its filing with the SEC, and the Company shall register give due consideration to all reasonable comments; provided, however that if such comments are not provided within two days then the Filing Deadline and First Registration Statement Effectiveness Date (as defined in the Purchase Agreement) shall be extended by the number of days from the date the Registration Statement is received by Investors until it or its counsel provides comments. The Investors shall furnish all information reasonably requested by the Company for inclusion therein. The Company shall have the Registration Statement and any amendment declared effective by the SEC no later than the First Registration Statement Effectiveness Date. The Company shall keep the Registration Statement effective pursuant to Rule 415 promulgated under the Securities Act and available for the resale of by the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale Investors of all of the Registrable Securities has been declared effective by covered thereby at all times until the SEC date on which the Investors shall have resold all the Registrable Securities covered thereby and no available amount of Registrable Securities issuable under the prospectus First Closing Debentures or the First Closing Warrants remains (the “Registration Period”). The Registration Statement (including any amendments or supplements thereto and prospectuses contained therein is available for usetherein) shall not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein, or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading. Within ten (10) days after receiving written notice from In the Holderevent that the Registration Statement becomes stale, the Company shall give notice immediately file one or more post-effective amendments to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required obtain an effective Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holder.

Mandatory Registration. Solely in 3.1. Within thirty (30) calendar days after the event there is not then a current registration statement concerning the resale of the Registrable SecuritiesEffective Date, the Company shall will prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (on Form S-3, or any other available form if the “Required Registration Statement”) concerning Company is not eligible to use Form S-3, for the resale purpose of registering under the Securities Act all of the Registrable SecuritiesShares for resale by, and for the account of, the Holders as selling stockholders thereunder (the “Registration Statement”). The Required Registration Statement shall permit the Holders 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 commercially reasonable efforts to cause the Registration Statement to become effective as soon as practicable after the filing thereof, and in no event later than the earlier of (i) ninety (90) calendar days following the Effective Date (subject to reasonable extension to the extent necessary to accommodate a delay resulting from unresolved SEC comments or the need to file financial statements within the time periods prescribed by the SEC) and (ii) the fifth calendar day following the date on which the Company is notified by the SEC that (a) such Registration Statement will not be on Form F-3 if available reviewed or is no longer subject to further review and comments and that (b) the SEC is willing to declare the Registration Statement effective. The Registration Statement filed pursuant to this Section 3.1 (and each amendment or supplement thereto, and each request for acceleration of effectiveness thereof) shall be provided to each Holder and its counsel prior to its filing or other submission. 3.2. The Company shall be required to keep the Registration Statement effective until such a registration date that is the earlier to occur of (i) the date as of which all of the Holders may sell all of the Registrable Shares to the public without restriction pursuant to Rule 144 (or the successor rule thereto) promulgated under the Securities Act, and if unavailable(ii) the date when all of the Registrable Shares registered thereunder shall have been sold pursuant to the Registration Statement or Rule 144 (such date is referred to herein as the “Mandatory Registration Termination Date”). Thereafter, the Company shall register be entitled to withdraw the resale Registration Statement and the Holders shall have no further right to offer or sell any of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable Shares pursuant to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the (or any prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holdersrelating thereto). The Company shall not be obligated required to any such other Holder unless such other Holder shall accept such register the offer by notice in writing and sale of the Registrable Shares pursuant to the Company within five (5) days thereafterRegistration Statement in an underwritten offering. 3.3. The Company shall use its best efforts to have such Required Registration Statementnot, and each shall not agree to (i) allow the holders of any securities of the Company, other than holders of the Registrable Shares, to include any of their securities in the Registration Statement required under Section 3.1 hereof or any amendment or supplement thereto without the consent of the Holders or (ii) offer any securities for its own account or the account of others in the Registration Statement under Section 3.1 hereof or any amendment or supplement thereto without the consent of the Holders, in each such case, subject to, and other than with respect to, any registration obligations of the Company under any agreement entered into prior to be filed the Effective Date; provided, however, that the Company at all times reserves the right to provide registration rights, pursuant to a separate registration statement, to the terms holders of this Purchase Warrantany securities of the Company. ** Indicates that certain information contained herein has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. **** Indicates that the amount of information omitted was a page or more in length, declared effective by and such information has been filed separately with the SEC as soon as practicableSecurities and Exchange Commission. The Company shall pay Confidential treatment has been requested with respect to the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holder.omitted portions

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after on the date that this Warrant becomes exercisable and on or before the fifth anniversary date of until five (5) years from the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities; provided, however, that the Company shall not be required to file a Required Registration Statement if the Company has filed a registration statement with respect to which the Holder is entitled to piggyback registration rights pursuant to Section 4.1 hereof and either: (i) the Holder has elected to participate in the offering covered by such registration statement or (ii) if such registration statement relates to an underwritten primary offering of securities of the Company, until the offering covered by such registration statement has been withdrawn or until thirty (30) days after such offering is consummated. The Required Registration Statement shall be on Form F-3 S-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 S-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 S-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holder.

Mandatory Registration. Solely The Company shall prepare, and, as soon as practicable, but in no event later than thirty (30) days after each applicable Closing Date (as defined in the event there is not then a current registration statement concerning Securities Purchase Agreement) (the resale of the Registrable Securities"SCHEDULED FILING DATE"), the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required separate Registration Statement shall be or Registration Statements (as is necessary) on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 S-3 covering the resale of all of the Registrable Securities has been declared effective by issued and issuable in connection with each such Closing. In the SEC and the prospectus contained therein event that Form S-3 is available unavailable for use. Within ten (10) days after receiving written notice from the Holderany such registrations, the Company shall give notice use such other form as is available for such registrations, subject to the other Holders provisions of Section 2.e. Any Registration Statement prepared pursuant hereto shall register for resale at least that number of shares of Common Stock equal to the number of Registrable Securities applicable to that Closing (issued and issuable) as of the Purchase Warrants advising date immediately preceding the date the Registration Statement is initially filed with the SEC, assuming that the Company Average Market Price (as defined in the Securities Purchase Agreement) were to decline 50% from the lower of (a) the Purchase Price at the applicable Closing and (b) the closing bid price of the Common Stock as of the date two days preceding the date the applicable Registration Statement is proceeding initially filed with the SEC (such registration statement and offering lower price shall hereafter be referred to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to as the Company within five (5) days thereafter"REGISTRATION SHARE NUMBER CALCULATION PRICE"). The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable, but in no event later than ninety (90) days after the applicable Closing Date in the event the SEC does not review such Registration Statement and no later than one hundred twenty (120) days after the applicable Closing Date in the event the SEC conducts a full review of such Registration Statement (the "SCHEDULED EFFECTIVE DATE"). The Company represents and covenants that no Person other than the Investors has or will have the right to include any securities of the Company in any Registration Statement to be filed in accordance with this Section 2.a. Sections 3.a and 3.v(i) and (ii) of the Agreement are hereby amended and restated in their entirety as follows: Whenever an Investor has requested that any Registrable Securities be registered pursuant to Section 2.b or at such time as the Company is obligated to file a Registration Statement with the SEC pursuant to Section 2.a or 2.f, the Company will use its best efforts to effect the registration of the Registrable Securities in accordance with the intended method of disposition thereof and, pursuant thereto, the Company shall have the following obligations: a. The Company shall promptly prepare and file with the SEC a separate Registration Statement with respect to the Registrable Securities issued and issuable in connection with each Closing (on or prior to the thirtieth (30th) day after the applicable Closing Date) for the registration of Registrable Securities pursuant to Section 2.a and use its best efforts to cause such Registration Statements relating to the Registrable Securities to become effective as soon as possible after such filing (but, in no event later than ninety (90) days after the applicable Closing Date in the event the SEC does not review the Registration Statement and no later than one hundred twenty (120) days after the applicable Closing Date in the event the SEC conducts a full review of the Registration Statement). The Company shall pay not file any other Registration Statement with respect to any of its securities between the costs date hereof and expenses thereof, for one time onlyninety (90) days after the effective date of any such Registration Statement (other than a Registration Statement on Form S-8 (or its equivalent at such time)). The Company shall keep each of the Registration Statements required to be filed hereunder effective pursuant to Rule 415 at all times until the earlier of (i) the date as of which the Investors may sell all of the Registrable Securities covered by such Registration Statement without restriction pursuant to Rule 144(k) promulgated under the 1933 Act (or successor thereto) or (ii) the date on which (A) the Investors shall have sold all the Registrable Securities covered by such Registration Statement and (B) none of the Repricing Rights or Warrants is outstanding (the "REGISTRATION PERIOD"), which costs Registration Statement (including any amendments or supplements thereto and expenses prospectuses contained therein) shall include “Blue Sky” fees for counsel for not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein, or necessary to make the Underwriter and “Blue Sky” filing fees statements therein, in light of the circumstances in which they were made, not misleading. The term "best efforts" shall mean, among other things, that the Company shall submit to qualify the Purchase Warrants in those jurisdictions requested SEC, within two business days after the Company learns that no review of a particular Registration Statement will be made by the Holderstaff of the SEC or that the staff has no further comments on the Registration Statement, as the case may be, a request for acceleration of effectiveness of such Registration Statement to a time and date not later than 48 hours after the submission of such request.

Mandatory Registration. Solely in The Company shall file with the event there United States Securities and Exchange Commission ("SEC"), on the date which is on or before forty-five (45) calendar days after the Closing Date (the "FILING DEADLINE") a Registration Statement on Form S-3 (or, if Form S-3 is not then available, on such form of Registration Statement as is then available to effect a current registration statement concerning of all of the Registrable Securities) covering the resale of the Shares and any Additional Investment Right Shares issued upon exercise of the Additional Investment Rights (the "INITIAL REGISTRATION STATEMENT"). The Registrable SecuritiesSecurities included in the Initial Registration Statement shall be registered on behalf of the Investors as set forth in Section 11(k) hereof. The Initial Registration Statement (and each amendment or supplement thereto, and each request for acceleration of effectiveness thereof) shall be provided to the Initial Investors and their counsel at least 5 Business Days prior to its filing or other submission. If for any reason (including, but not limited to, a determination by the staff of the SEC that all or any portion of the Registrable Securities cannot be included in the Initial Registration Statement (an "SEC DETERMINATION")) the Initial Registration Statement declared effective by the SEC does not include all of the Registrable Securities (any such shares that are not included being the "UNCOVERED SHARES"), the Company shall prepare and file with the SEC on one occasion at its sole expenseSEC, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as practicable, but in any event prior to the tenth (10th) Business Day after becoming aware of the existence of any Uncovered Shares (such form is availabledate referred to herein as the "UNCOVERED SHARE FILING DEADLINE"), provided that either (a) an amendment (the Company shall maintain "UNCOVERED SHARES AMENDMENT") to the effectiveness of all Registration Statements then in effect until such time as a Initial Registration Statement on Form F-3 covering the resale of all effecting a registration of the Registrable Securities has been declared effective by Uncovered Shares or (b) a registration statement which registers the SEC Uncovered Shares (the "UNCOVERED SHARES REGISTRATION STATEMENT"). The Uncovered Shares Amendment or the Uncovered Shares Registration Statement (and the prospectus contained therein is available each amendment or supplement thereto, and each request for use. Within ten (10acceleration of effectiveness thereof) days after receiving written notice from the Holder, the Company shall give notice be provided to the Initial Investors and their counsel at least concurrently with its filing or other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereaftersubmission. The Company shall use its best reasonable efforts to have such Required Registration Statement, and cause each other of the Initial Registration Statement required and the Uncovered Shares Amendment or the Uncovered Shares Registration Statement to be filed pursuant to the terms of this Purchase Warrant, declared become effective by the SEC as soon as practicable. The Company shall pay practicable after the costs and expenses filing thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holder.

Mandatory Registration. Solely in The Company agrees that, within sixty (60) calendar days following the event there is not then Closing Date (the “Filing Deadline”), the Company will file with the Commission (at the Company’s sole cost and expense) a current registration statement concerning on appropriate form registering the resale of the full amount of Shares and Pre-Funded Warrant Shares (and any other equity security issued or issuable with respect to the Shares and Pre-Funded Warrant Shares by way of share split, dividend, distribution, recapitalization, merger, exchange, or replacement, the “Registrable Securities”) and naming the Purchaser as a selling shareholder thereunder (the “Registration Statement”), and the Company shall use its commercially reasonable efforts to have the Registration Statement declared effective as soon as practicable after the filing thereof, but in any event no later than ninety (90) calendar days after the Closing Date (the “Effectiveness Deadline”); provided, that the Effectiveness Deadline shall be extended to one hundred twenty (120) calendar days after the Closing Date if the Registration Statement is reviewed by, and comments thereto are provided from, the Commission; provided, further that the Company shall have the Registration Statement declared effective within three (3) Business Days after the date the Company is notified (orally or in writing, whichever is earlier) by the staff of the Commission that the Registration Statement will not be “reviewed” or will not be subject to further review. Upon Purchaser’s timely request, the Company shall prepare and file provide a draft of the Registration Statement to Purchaser at least three (3) Business Days in advance of the date of filing the Registration Statement with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement Commission (the “Required Filing Date”), and Purchaser shall provide any comments on the Registration Statement to the Company no later than two (2) Business Days immediately preceding the Filing Date. Upon notification by the Commission that any Registration Statement has been declared effective by the Commission, within two (2) Business Day thereafter, the Company shall file the final prospectus under Rule 424 of the Securities Act. In no event shall the Purchaser be identified as a statutory underwriter in the Registration Statement unless requested by the Commission; provided, that if the Commission requests that Purchaser be identified as a statutory underwriter in the Registration Statement”, Purchaser will have the option, in its sole and absolute discretion, to either (i) concerning have the resale opportunity to withdraw from the Registration Statement, in which case the Company’s obligation to register the Registrable Securities will be deemed satisfied or (ii) be included as such in the Registration Statement. Subject to any comments from the Staff, such Registration Statement shall include the plan of all distribution attached hereto as Exhibit A. Such Registration Statement shall not include any shares of Common Stock or other securities for the account of any other holder without the prior written consent of the Purchasers beneficially owning (as determined pursuant to Rule 13d-3 under the Exchange Act) a majority of the Registrable Securities. The Required Company shall notify the Purchasers by facsimile or e-mail as promptly as practicable, and in any event, within twenty-four (24) hours, after the Registration Statement is declared effective or is supplemented and shall provide the Purchasers with copies of any related prospectus to be on Form F-3 if available for such a registration and if unavailable, used in connection with the Company shall register the resale sale or other disposition of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holdersecurities covered thereby.

Mandatory Registration. Solely in the event there is not then (a) The Company shall be required to file a current registration statement concerning the resale Registration Statement on or prior to each Filing Date until all of the Registrable SecuritiesSecurities are registered for resale by the Investors and the Placement Agent as selling stockholders thereunder. On or prior to each Filing Date, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon a Registration Statement for the written notice purpose of registering under the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning Securities Act the resale of all, or such portion as permitted by SEC Guidance (and the Company shall make a commercially reasonable effort to advocate with the SEC for the registration of all or the maximum number of the Registrable Securities as permitted by SEC Guidance) of the Registrable Securities by, and for the account of, the Investors and the Placement Agent as selling stockholders thereunder, that are not then registered on an effective Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415. No other securities shall be included in the Initial Registration Statement that is filed except for the Registrable Securities. The Required Each Registration Statement shall be on Form F-3 if available for such a registration and if unavailablecontain the “Plan of Distribution” included in the Investor Questionnaire, in substantially the form of which was provided to Investors with the Securities Purchase Agreement. Subject to the terms of this Agreement, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as cause a Registration Statement to be declared effective under the Securities Act as promptly as possible after the filing thereof, but in any event on Form F-3 covering or prior to the resale applicable Effectiveness Date. (b) The Company shall be required to keep a Registration Statement effective until such date that is the earlier of (the “Effectiveness Period”) (i) the date as of which all of the Investors as selling stockholders thereunder may sell all of the Registrable Securities has registered for resale thereon without restriction pursuant to Rule 144 or (ii) the date when all of the Registrable Securities registered thereunder shall have been declared effective by sold (such date is referred to herein as the SEC and the prospectus contained therein is available for use“Mandatory Registration Termination Date”). Within ten (10) days after receiving written notice from the HolderThereafter, the Company shall give notice be entitled to withdraw such Registration Statement and the Investors shall have no further right to offer or sell any of the Registrable Securities registered for resale thereon pursuant to the respective Registration Statement (or any prospectus relating thereto). (c) Notwithstanding any other Holders provision of this Agreement and subject to the payment of liquidated damages in Section 4(a), if any SEC Guidance sets forth a limitation on the number of Registrable Securities to be registered in the Initial Registration Statement (and the Company has made a commercially reasonable effort to advocate with the SEC for the registration of all or a greater number of Registrable Securities), the number of Registrable Securities to be registered on such Registration Statement will first be reduced by the number of Registrable Securities represented by the Placement Agent Warrant Shares and secondly by the number of the Purchase Warrants advising Registrable Securities represented by the Underlying Shares (applied, in the case that some Underlying Shares may be registered, to the Investors on a pro rata basis based on the total number of unregistered Underlying Shares held by such Investors on a fully diluted basis). (d) If during the Effectiveness Period, subject to Sections 3(a) and 3(c), the Company becomes aware that the number of Registrable Securities at any time exceeds the number of Registrable Securities then registered for resale in a Registration Statement, then the Company is proceeding with such registration statement and offering to include therein Purchase Warrants shall file as soon as reasonably practicable an additional Registration Statement covering the resale by the Investors of not less than the number of such Registrable Securities that are not then registered. (e) Notwithstanding any other Holdersprovision of this Agreement, if during the Effectiveness Period any of the Registrable Securities become eligible for resale without restriction pursuant to Rule 144 (the “Rule 144 Eligible Securities”) then the number of Registrable Securities outstanding at any one time shall be reduced by the number of Rule 144 Eligible Securities and the Company may at its option file an amendment to any Registration Statement to reduce the number of Registrable Securities accordingly. The Company shall acknowledges that (i) Rule 144 is not currently available to its shareholders because the Company was a “shell company”, as that term is defined in the SEC’s Rule 12-b-2, until December 5, 2007, (ii) that Rule 144 will not be obligated available to any such other Holder unless such other Holder shall accept such offer by notice in writing its shareholders until December 5, 2008, and (iii) that Rule 144 will only be available to its shareholders if, at the time of sale, the Company within five (5) days thereafterhas filed all of its periodic disclosure on Forms 10-Q and 10-K during the 12 months immediately preceding the date of sale. The Company shall use acknowledges that the Company’s obligation to file its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to periodic disclosure documents for the terms 12 month period preceding the date of sale is a “restriction” as that term is used in the first sentence of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the HolderSection 3(e).

Mandatory Registration. Solely in The Company shall file with the event there United States Securities and Exchange Commission ("SEC"), on the date which is on or before thirty (30) calendar days after the Closing Date (the "FILING DEADLINE") a Registration Statement on Form S-3 (or, if Form S-3 is not then available, on such form of Registration Statement as is then available to effect a current registration statement concerning of all of the Registrable Securities) covering the resale of the Shares and any Additional Investment Right Shares issued upon exercise of the Additional Investment Rights (the "INITIAL REGISTRATION STATEMENT"). The Registrable SecuritiesSecurities included in the Initial Registration Statement shall be registered on behalf of the Investors as set forth in Section 11(k) hereof. The Initial Registration Statement (and each amendment or supplement thereto, and each request for acceleration of effectiveness thereof) shall be provided to the Initial Investors and their counsel at least 2 Business Days prior to its filing or other submission. If for any reason (including, but not limited to, a determination by the staff of the SEC that all or any portion of the Registrable Securities cannot be included in the Initial Registration Statement (an "SEC Determination")) the Initial Registration Statement declared effective by the SEC does not include all of the Registrable Securities (any such shares that are not included being the "UNCOVERED SHARES"), the Company shall prepare and file with the SEC on one occasion at its sole expenseSEC, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as practicable, but in any event prior to the tenth (10th) Business Day after becoming aware of the existence of any Uncovered Shares (such form is availabledate referred to herein as the "UNCOVERED SHARE FILING DEADLINE"), provided that either (a) an amendment (the Company shall maintain "UNCOVERED SHARES AMENDMENT") to the effectiveness of all Registration Statements then in effect until such time as a Initial Registration Statement on Form F-3 covering the resale of all effecting a registration of the Registrable Securities has been declared effective by Uncovered Shares or (b) a registration statement which registers the SEC Uncovered Shares (the "UNCOVERED SHARES REGISTRATION STATEMENT"). The Uncovered Shares Amendment or the Uncovered Shares Registration Statement (and the prospectus contained therein is available each amendment or supplement thereto, and each request for use. Within ten (10acceleration of effectiveness thereof) days after receiving written notice from the Holder, the Company shall give notice be provided to the Initial Investors and their counsel at least concurrently with its filing or other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereaftersubmission. The Company shall use its best reasonable efforts to have such Required Registration Statement, and cause each other of the Initial Registration Statement required and the Uncovered Shares Amendment or the Uncovered Shares Registration Statement to be filed pursuant to the terms of this Purchase Warrant, declared become effective by the SEC as soon as practicable. The Company shall pay practicable after the costs and expenses filing thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holder.

Mandatory Registration. Solely in (a) Within thirty (30) days after the event there Closing (or, if the date that is thirty (30) days after the Closing is not then a current registration statement concerning business day, the resale of the Registrable Securitiesnext business day immediately following such date), the Company shall will prepare and file with the SEC a registration statement on one occasion at its sole expenseForm S-3 or any successor form (except that if the Company is not then eligible to register for resale the Registrable Securities on Form S-3, upon then such registration shall be on Form S-1 or any successor form) for the written notice purpose of registering under the Securities Act all of the Holder at any time commencing six (6) months after Registrable Securities for resale by, and for the date that this Warrant becomes exercisable and on or before account of, the fifth anniversary date of the Effective Date, a required registration statement Holders as selling stockholders thereunder (the “Required Registration Statement”) concerning ). The Registration Statement shall permit the resale of Holders to offer and sell, on a delayed or continuous basis pursuant to Rule 415 under the Securities Act, any or all of the Registrable Securities. The Required Company agrees to use commercially reasonable efforts to cause the Registration Statement to become effective as soon as reasonably practicable (which shall be on Form F-3 if available for such include using commercially reasonable efforts to respond to any comments of the SEC in respect of the Registration Statement within ten (10) business days following receipt thereof, unless the SEC conducts a registration and if unavailablefull review, in which case the Company shall register the resale use its commercially reasonably efforts to respond to any comments of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale SEC in respect of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Registration Statement within fifteen (15) business days following receipt thereof). The Company shall maintain use its commercially reasonable efforts to keep the effectiveness of all Registration Statements then in effect Statement effective until such time as a Registration Statement on Form F-3 covering date that is the resale earlier of (i) the date when all of the Registrable Securities registered thereunder shall have been sold or (ii) two (2) years after the Closing, subject to extension as set forth below (such date is referred to herein as the “Mandatory Registration Termination Date”). Thereafter, the Company shall be entitled to withdraw the Registration Statement and the Holders shall have no further right to offer or sell any of the Registrable Securities pursuant to the Registration Statement (or any prospectus relating thereto). In the event the right of the selling Holders to use the Registration Statement (and the prospectus relating thereto) is delayed or suspended pursuant to Sections 4(c) or 10 hereof, if the events described in clause (i) or (ii) above of this subsection (a)have not yet occurred, the Company shall be required to extend the Mandatory Registration Termination Date by the same number of days as such delay or Suspension Period (as defined in Section 10 hereof), provided that such delay is not the result of the Holders’ failure or delay to furnish information required under Section 5 hereof. (b) In the event that the Registration Statement is not filed with the SEC within thirty (30) days after the Closing (or, if the date that is thirty (30) days after the Closing is not a business day, the next business day immediately following such date), or the Company fails to use its commercially reasonable efforts to respond to any comments of the SEC in respect of the Registration Statement within ten (10) business days following receipt thereof, or in the case of a full SEC review, within fifteen (15) business days following receipt thereof, the Company will pay, in cash, check or by wire transfer, to each Investor, one percent (1.0%) of the aggregate Purchase Price (as defined in the Securities Purchase Agreement) paid by the Investor for all Shares sold to each such Investor pursuant to the Securities Purchase Agreement. For every additional thirty (30) days that the Company continues to be delayed from filing the Registration Statement with the SEC or continues to fail to use its commercially reasonable efforts to respond to any comments of the SEC in respect of the Registration Statement, the Company will pay, in cash, check or by wire transfer, to each Investor, an additional one percent (1.0%) of the aggregate Purchase Price paid by the Investor for all Shares sold to each such Investor pursuant to the Securities Purchase Agreement. Notwithstanding the foregoing, the Company shall not be obligated to pay to the Investors, pursuant to this Section 3(b), individually or in the aggregate, more than five percent (5%) of the aggregate Purchase Price for all Shares sold pursuant to the Securities Purchase Agreement. (c) Within three (3) business days after a Registration Statement that covers applicable Registrable Securities is declared effective by the SEC, the Company shall deliver, or shall cause legal counsel to deliver, to the transfer agent for such Registrable Securities (with copies to the Holders whose Registrable Securities are included in such Registration Statement) confirmation that such Registration Statement has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice in such form as agreed to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing counsel to the Company within five and counsel to the Holders at such time. (5d) days thereafter. The Company shall use its best efforts Subject to have such Required Registration Statementreview and comment by the SEC, and each other the Plan of Distribution set forth in the Registration Statement required to shall be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC substantially as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants set forth in those jurisdictions requested by the HolderExhibit B attached hereto.

Mandatory Registration. Solely The Company shall prepare and, as soon as practicable, but in no event later than the Filing Deadline, file with the SEC an initial Registration Statement on Form S-1 (or any successor form) registering the Required Registration Amount and covering the resale by the Buyers of the Conversion Shares issuable upon conversion of the Initial Note registered thereunder (the “Initial Registration Statement”). Upon each Additional Closing (as defined in the event there is not then a current registration statement concerning the resale of the Registrable SecuritiesSecurities Purchase Agreement), the Company shall prepare and and, as soon as practicable, but in no event later than the Filing Deadline, file with the SEC an additional Registration Statement on one occasion at its sole expense, upon Form S-1 (or any successor form) registering the written notice Required Registration Amount and covering the resale by the Buyers of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date Conversion Shares issuable upon conversion of the Effective DateAdditional Notes issued at such Additional Closing and registered thereunder (each, a required registration statement (the an “Required Additional Registration Statement”) concerning ). The Initial Registration Statement and each Additional Registration Statement shall also cover, to the resale extent allowable under the Securities Act, such indeterminate number of all additional shares of Common Stock resulting from stock splits, stock dividends, reclassifications, or similar transactions with respect to the Registrable Securities. The Required Initial Registration Statement and each Additional Registration Statement shall be on Form F-3 if available not include any shares of Common Stock for such a registration and if unavailable, the Company shall register account of any Person other than the resale Buyers without the prior written consent of the Registrable Securities on Form S-1 Buyers. The Initial Registration Statement and each Additional Registration Statement shall contain the “Selling Stockholder” and “Plan of Distribution” sections in substantially the form attached hereto as Exhibit B. The Initial Registration Statement and each Additional Registration Statement (and each amendment or another appropriate form reasonably acceptable supplement thereto, and each request for acceleration of effectiveness thereof) shall be provided, prior to its filing or submission, to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then Buyers in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding accordance with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafterSection 3(d). The Company shall use its best commercially reasonable efforts to have such Required the Initial Registration Statement, Statement and each other Additional Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay reasonably practicable following the costs and expenses thereoffiling thereof with the SEC, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for but in no event later than the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the HolderEffectiveness Deadline.

Mandatory Registration. Solely in No later than ninety (90) days from the event there is not then a current registration statement concerning the resale date of the Registrable Securitiesconsummation of the transactions contemplated by the Merger Agreement (the “Filing Deadline”), the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement Registration Statement (the “Required Initial Registration Statement”) concerning covering the resale of all of the Registrable SecuritiesSecurities on a continuous basis pursuant to Rule 415 of the Securities Act. The Required Initial Registration Statement filed hereunder shall be on Form F-3 S-3; provided, that if Form S-3 is not available for such a the registration and if unavailableof the resale of Registrable Securities hereunder, the Company shall (x) register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and (y) undertake to register the resale of the Registrable Securities on Form F-3 S-3 as soon as such form is available, provided provided, that the Company shall maintain the effectiveness of all the Registration Statements Statement then in effect until such time as a Registration Statement on Form F-3 S-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC staff of the SEC. No Shareholder shall be named as an “underwriter” in the Initial Registration Statement without such Shareholder’s prior written consent. Such Initial Registration Statement also shall cover, to the extent allowable under the 1933 Act and the prospectus contained therein rules promulgated thereunder (including Rule 416), such indeterminate number of additional shares of Common Stock resulting from stock splits, stock dividends or similar transactions with respect to the Registrable Securities. Such Initial Registration Statement shall not include any shares of Common Stock or other securities for the account of any other Person (including the Company) without the prior written consent of the Required Shareholders. The Initial Registration Statement (and each amendment or supplement thereto, and each request for acceleration of effectiveness thereof) shall be provided in accordance with Section 3(b) to the Shareholders and their counsel prior to its filing or other submission. If (i) the Initial Registration Statement covering the Registrable Securities is available for use. Within ten not filed with the SEC on or prior to the Filing Deadline, or (10ii) days after receiving written notice from prior to the Holdereffective date of the Initial Registration Statement, the Company shall give notice fail to file any pre-effective amendment to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Initial Registration Statement required to be filed by the SEC or otherwise respond to comments from the SEC within thirty (30) days from the date of receipt of such comments (a “Response Failure”), the Company will make payments to each Shareholder, as liquidated damages and not as a penalty, in an amount equal to 0.5% of the aggregate value of the Merger Consideration paid to such Shareholder in exchange for such Shareholder's shares of Mobcrush Stock on the Closing Date pursuant to the terms of this Purchase WarrantMerger Agreement (such amount, declared effective by with respect to each Shareholder, the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel Merger Consideration Amount”) for the Underwriter first 30-day period or pro rata for any portion thereof following the Filing Deadline for which no Initial Registration Statement is filed with respect to the Registrable Securities, or following a Response Failure, as the case may be, and “Blue Sky” filing fees 1.0% of such Shareholder’s Merger Consideration Amount for each 30-day period thereafter or pro rata for any portion thereof for which no Initial Registration Statement is filed with respect to qualify the Purchase Warrants in those jurisdictions requested by Registrable Securities, or following a Response Failure, as the Holdercase may be; provided, that the maximum payments to any Shareholder pursuant to this Section 2(a)(i) shall not exceed 5.0% of such Shareholder’s Merger Consideration Amount. Such payments shall constitute the Shareholders’ exclusive monetary remedy for such events, but shall not affect the right of the Shareholders to seek injunctive relief.

Mandatory Registration. Solely in A. On or prior to the event there is not then a current registration statement concerning the resale of the Registrable SecuritiesRequired Filing Date, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, Commission a required registration statement (the “Required resale” Registration Statement”) concerning Statement providing for the resale of all of the Registrable SecuritiesSecurities for an offering to be made on a continuous basis pursuant to Rule 415. The Required Registration Statement shall be on Form F-3 S-1 (except if available the Company is then eligible to register for resale the Registrable Securities on another Form, such Registration Statement may be on such other appropriate form, in accordance herewith and with the Securities Act and the rules promulgated thereunder). Such Registration Statement shall cover to the extent allowable under the Securities Act and the rules promulgated thereunder (including Rule 416), such indeterminate number of additional shares of Common Stock resulting from stock splits, stock dividends or similar transactions with respect to the Registrable Securities. The Company shall (i) not permit any securities other than the Registrable Securities to be included in the Registration Statement and (ii) use its best efforts to cause the Registration Statement to be declared effective under the Securities Act as promptly as possible after the filing thereof, and to keep such Registration Statement continuously effective under the Securities Act until such date as is the earlier of (x) the date when all Registrable Securities covered by such Registration Statement have been sold or (y) 36 months after the Closing Date (the “Effectiveness Period”). The Company will use its reasonable best efforts to cause such Registration Statement to be declared effective on a registration and if unavailabledate (the “Required Effective Date”) which is no later than the earlier of (Y) five (5) days after oral or written notice by the SEC that it may be declared effective or (Z) two hundred ten (210) days after the Closing Date. The Company shall request that the effective time of the Registration Statement be 4:00 p.m. Eastern Time on the Effective Date, but the Investor acknowledges that the SEC determines the time of the effectiveness of the Registration Statement. B. [Reserved] C. Notwithstanding anything to the contrary set forth in this Section 2, in the event the Commission does not permit the Company to register all of the Registrable Securities in the Registration Statement because of the Commission’s application of Rule 415 or the Commission requires the Company to either exclude shares held by certain Holders or deem such Holders to be underwriters with respect to their Registrable Securities, the Company shall register in the resale Registration Statement such number of Registrable Securities as is permitted by the Commission without naming such Holder as an underwriter (unless such Holder agrees to be named as an underwriter); provided, however, that the number of Registrable Securities to be included in such Registration Statement or any subsequent registration statement shall be determined in the following order: (i) first, the shares of Common Stock issuable upon conversion of the Registrable Securities Preferred Stock shall be registered on Form S-1 or another appropriate form reasonably acceptable to a pro rata basis among the Holder holders of the Preferred Stock, and undertake (ii) second, the shares of Common Stock issuable upon exercise of the Warrants shall be registered on a pro rata basis among the holders of the Warrants. In the event the Commission does not permit the Company to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by in the SEC and initial Registration Statement, then except as the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the HolderHolders of such excluded Registrable Securities may otherwise agree, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required file subsequent Registration Statements to register the Registrable Securities that were not registered in the initial Registration Statement, as promptly as possible and each other Registration Statement required to be filed pursuant to in a manner permitted by the terms Commission. For purposes of this Purchase WarrantSection 2(a)(i)(C), declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include term “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holder.

Mandatory Registration. Solely in On or prior to the event there is not then a current registration statement concerning Filing Deadline with respect to the resale of the Registrable SecuritiesInitial Closing, the Company shall will prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, Commission a required registration statement (the “Required Registration Statement”) concerning Statement covering the resale of all Registrable Securities for an offering to be made on a continuous basis pursuant to Rule 415; provided that to the extent that the Commission does not allow such Registration Statement to cover the resale of all Registrable Securities (such Registrable Securities not being allowed to be covered by such Registration Statement, the “Rejected Registrable Securities”), then the Company will prepare and file with the Commission one or more additional Registration Statements covering the resale of any Rejected Registrable Securities on or prior to the applicable Filing Deadline. The Required Registration Statement shall will be on Form F-3 S-3 (except if available for such a registration and if unavailable, the Company shall is not then eligible to register the for resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to S-3, in which case such registration will be on Form S-1, and if for any reason the Holder and undertake Company is not then eligible to register the for resale of the Registrable Securities on Form F-3 S-1, then another appropriate form for such purpose) and will contain (except if otherwise required pursuant to written comments received from the Commission upon a review of such Registration Statement) a “Plan of Distribution” section, substantially in the form attached hereto as Annex A, as the same may be amended in accordance with the provisions of this Agreement. The Company will use its reasonable best efforts to promptly respond to any and all comments received from the Commission with respect to any Registration Statement filed pursuant to this Agreement. The Company will use its reasonable best efforts to cause each Registration Statement to be declared effective under the Securities Act as soon as such form is availablepossible after filing but, provided that in any event, no later than the Company shall maintain Effectiveness Deadline, and will use its reasonable best efforts to keep each Registration Statement (or a Subsequent Form S-3) continuously effective under the effectiveness of all Registration Statements then in effect Securities Act until such time as a date when all Registrable Securities covered by the Registration Statement on Form F-3 covering the resale of all of the cease to be Registrable Securities has been declared effective as determined by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing counsel to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the HolderEffectiveness Period”).

Mandatory Registration. Solely in (a) Subject to Section 5.4(g) and during the event there is not then a current registration statement concerning period commencing at any time after two (2) years following the resale date hereof, one or more holders of the Registrable SecuritiesSecurities (the “Holders”) owning in the aggregate in excess of 50% of the issued and outstanding Registrable Securities may make a written request to the Company for registration (a “Demand Registration”) under and in accordance with the provisions of the Securities Act of up to all of the Registrable Securities owned by such Holder or Holders (a “Registration Statement”). Within five (5) business days after receipt of such request, the Company will serve written notice (the “Notice”) of such request to all other Holders and will include in such registration all Registrable Securities with respect to which the Company receives written requests for inclusion therein within twenty (20) business days after it gives the Notice to the applicable Holder. Unless the Holder or Holders demanding the Demand Registration shall agree in writing, no other party, including the Company (but excluding another Holder of a Registrable Security) shall be permitted to offer securities under any such Demand Registration. The Company shall use its reasonable best efforts, as expeditiously as practicable, but in no event later than sixty (60) days after receipt of a request from a Holder for a Demand Registration, to prepare and file with the SEC on one occasion at its sole expense, upon a Registration Statement with respect to the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement Registrable Securities (the “Required Registration StatementFiling Date”) concerning and shall use its reasonable best efforts to cause the resale of Registration Statement to become effective as promptly as possible, and in all of events within sixty (60) days from the Registrable SecuritiesFiling Date. The Required Company shall use its reasonable best efforts to keep such Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, effective until the Company shall register earlier of (i) the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of date when all of the Registrable Securities has registered thereunder shall have been sold and (ii) the second anniversary of the date on which the Registration Statement is declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice or, with respect to any unsold registered Warrant Shares, one year from the Holder, the Company shall give notice to the other Holders expiration date of the Purchase Warrants advising that if later than such second anniversary (the Company is proceeding with such registration statement and offering “Registration Withdrawal Date”). (b) The Holders are entitled to include therein Purchase Warrants one (1) Demand Registration regardless of such other Holdersthe person or persons making demand. The Company shall not be obligated deemed to have effected a Demand Registration unless and until such Demand Registration is declared effective. (c) If the managing underwriter or underwriters of a Demand Registration (or in the case of a Demand Registration not being underwritten, a majority of the Holders) advise the Company in writing that in its or their opinion the principal amount and/or number of securities proposed to be sold in such Demand Registration exceeds the principal amount and/or number of securities which can be sold in such offering without an adverse effect on such offering, the Company will include in such registration only the number of securities which, in the opinion of such underwriter or underwriters (or Holders, as the case may be) can be sold, selected pro rata among the Holders which have requested to be included in such Demand Registration; provided, that if any Holder has requested to be included in such Demand Registration and all Registrable Securities which such Holder has requested to be included in such Demand Registration pursuant to this Section 5 are not so included, such Holder shall be entitled to an additional Demand Registration hereunder (with all expenses of registration relating to such additional Demand Registration to be borne by the Company) not earlier than six months after such earlier Demand Registration was requested and on the same terms and conditions as would have applied to such Holder had such earlier Demand Registration not been made. (d) If any Demand Registration is an underwritten offering with respect to any issue of Registrable Securities, the Holders of a majority of such other Holder unless Registrable Securities to be included in such other Holder shall accept such offer by notice in writing Demand Registration will select the investment banker or bankers and manager or managers to administer the offering and one counsel to the sellers of such Registrable Securities in such offering; provided, that such investment bankers and managers be of nationally recognized standing and reasonably satisfactory to the Company. (e) In the event that (i) the Registration Statement to be filed by the Company pursuant to Section 5.2(a) above is not filed with the SEC by the Filing Date, (ii) such Registration Statement is not declared effective by the SEC within sixty (60) days from the Filing Date, or (iii) such Registration Statement is not maintained as effective by the Company for the period set forth in Section 5.2(a) above (each a “Registration Default”) then the Company will pay each Investor (pro rated on a daily basis), as liquidated damages for such failure and not as a penalty one percent (1%) of the purchase price of shares of Common Stock purchased from the Company and held by the Investor for the first month and two percent (2%) for every month thereafter until such Registration Statement has been filed, and in the event of late effectiveness (in case of clause (ii) above) or lapsed effectiveness (in the case of clause (iii) above), one percent (1%) of the purchase price of shares of Common Stock purchased from the Company and held by the Investor for the first month and two percent (2%) for every month thereafter (regardless of whether one or more such Registration Defaults are then in existence, but without duplication of liquidated damages) until such Registration Statement has been declared effective. Such payment of the liquidated damages shall be made to the Investors in cash, within five (5) calendar days thereafterof demand, provided, however, that the payment of such liquidated damages shall not relieve the Company from its obligations to register the Securities pursuant to this Section. If the Company does not remit the payment to the Investors as set forth above, the Company will pay the Investors’ reasonable costs of collection, including attorneys’ fees, in addition to the liquidated damages. The registration of the Securities pursuant to this provision shall not affect or limit the Investors’ other rights or remedies as set forth in this Agreement. (f) From and after the date of this Agreement, the Company shall use its best efforts not, without the prior consent of the Holders of at least a majority of the Registrable Securities then outstanding, enter into any agreement with any holder or prospective holder of any securities of the Company that would allow such holder or prospective holder to have include such Required Registration Statementsecurities in any registration filed under this Section 5.2, and each other Registration Statement required to be filed pursuant to unless under the terms of this Purchase Warrantsuch agreement, declared effective by such holder or prospective holder may include such securities in any such registration only to the SEC as soon as practicable. The Company shall pay extent that the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for inclusion of such securities will not reduce the Underwriter and “Blue Sky” filing fees to qualify amount of the Purchase Warrants in those jurisdictions requested by Registrable Securities of the HolderHolders that are included.

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after on the date that this Warrant becomes exercisable and on or before the fifth anniversary date of until five (5) years from the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 S-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 S-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 S-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holder.

Mandatory Registration. Solely in (a) Within twenty (20) business days after the event there is not then a current registration statement concerning the resale of the Registrable SecuritiesClosing Date, the Company shall will prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (on Form S-3, or in the “Required Registration Statement”) concerning event the resale Company is not eligible to use Form S-3, on Form S-1, for the purpose of registering under the Securities Act all of the Registrable SecuritiesShares for resale by, and for the account of, the Investors as selling stockholders thereunder (the “Registration Statement”). The Required Registration Statement shall be permit the Investors to offer and sell, on Form F-3 if available for such a registration and if unavailabledelayed or continuous basis pursuant to Rule 415 under the Securities Act, the Company shall register the resale any or all of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable Shares. The Company agrees to use reasonable best efforts to cause the Holder and undertake Registration Statement to register the resale of the Registrable Securities on Form F-3 become effective as soon as practicable, but in no event later than ninety (90) days after the Closing Date (or one hundred twenty (120) days if the Registration Statement is reviewed by the SEC). In the event that, after the Closing Date and before the Registration Statement is declared effective, there is an act of God, war or terror, the Effectiveness Deadline will be extended by a number of days equal to the days of any such form is availableact, provided that the plus ten (10). (b) The Company shall maintain be required to keep the effectiveness of all Registration Statements then in effect Statement effective until such time date that is the earlier of (i) the date as a Registration Statement on Form F-3 covering of which all of the resale of Purchasers may sell all of the Registrable Securities has without restriction pursuant to Rule 144(k) (or the successor rule thereto) promulgated under the Securities Act or (ii) the date when all of the Registrable Shares registered thereunder shall have been declared effective by sold (such date is referred to herein as the SEC and the prospectus contained therein is available for use“Mandatory Registration Termination Date”). Within ten (10) days after receiving written notice from the HolderThereafter, the Company shall give notice be entitled to withdraw the Registration Statement and the Investors shall have no further right to offer or sell any of the Registrable Shares pursuant to the other Holders Registration Statement (or any prospectus relating thereto). (c) The offer and sale of the Purchase Warrants advising that Registrable Shares pursuant to the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company Registration Statement shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holderunderwritten.

Mandatory Registration. Solely in The Company shall, no later than September 8, 2017 (the event there is not then a current registration statement concerning the resale of the Registrable Securities“Filing Date”), the Company shall prepare and file with the SEC on one occasion an initial Registration Statement covering the maximum number of Registrable Securities (beginning first with the Conversion Shares) as shall be permitted to be included thereon in accordance with applicable SEC rules, regulations and interpretations so as to permit the resale of such Registrable Securities by the Investor, including but not limited to under Rule 415 under the Securities Act at its sole expensethen prevailing market prices (and not fixed prices), upon as mutually determined by both the written notice Company and the Investor in consultation with their respective legal counsel, subject to the aggregate number of authorized shares of the Holder at any time commencing six (6) months after Company’s Common Stock then available for issuance in its Articles of Incorporation. The initial Registration Statement shall register the date Registrable Securities as well as certain other registrable securities owned by third parties that this Warrant becomes exercisable and the Company has previously committeed to register on or before the fifth anniversary date of the Effective Date, a required registration statement pari passu basis (the “Required Aggregate Registrable Securities”). The Investor and its counsel shall have a reasonable opportunity to review and comment upon such Registration Statement”Statement and any amendment or supplement to such Registration Statement and any related prospectus prior to its filing with the SEC. The Investor shall furnish all information reasonably requested by the Company for inclusion therein. The Company shall have the Registration Statement and any amendment declared effective by the SEC at the earliest possible date (in any event within one hundred and twenty (120) concerning calendar days from the Filing Date). The Company shall keep the Registration Statement effective, including but not limited to pursuant to Rule 415 promulgated under the Securities Act and available for the resale of all of by the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale Investor of all of the Registrable Securities has been declared effective covered thereby at all times until the earlier of (i) the date as of which the Investor may sell all of the Registrable Securities without restriction pursuant to Rule 144 promulgated under the Securities and (ii) the date on which the Investor shall have sold all the Registrable Securities covered thereby (the “Registration Period”). The Registration Statement (including any amendments or supplements thereto and prospectuses contained therein) shall not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein, or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading. (i) a Registration Statement is not filed on or prior to its Filing Date or (ii) the Company fails to file with the SEC a request for acceleration in accordance with Rule 461 promulgated under the Securities Act, within five Business Days of the date that the Company is notified (orally or in writing, whichever is earlier) by the Commission that a Registration Statement will not be “reviewed,” or not subject to further review, or (iii) prior to the date that the SEC declares the Registration Statement effective (the “Effectiveness Date”), the Company fails to file a pre-effective amendment and otherwise respond in writing to comments made by the prospectus contained therein is available for use. Within ten (10) Commission in respect of such Registration Statement within 30 calendar days after receiving written the receipt of comments by or notice from the HolderCommission that such amendment is required in order for a Registration Statement to be declared effective, or (iv) after the Effectiveness Date, a Registration Statement ceases for any reason to remain continuously effective as to all Registrable Securities for which it is required to be effective, or the Holders are not permitted to utilize the Prospectus therein to resell such Registrable Securities for 30 consecutive calendar days but no more than an aggregate of 60 calendar days during any 12-month period (which need not be consecutive Business Days) (any such failure or breach being referred to as an “Event”, and for purposes of clause (i) the date on which such Event occurs, or for purposes of clause (ii) the date on which such five Business Day period is exceeded, or for purposes of clause (iii) the date which such 30 calendar day period is exceeded, or for purposes of clause (iv) the date on which such 30 or 60 calendar day period, as applicable, is exceeded being referred to as “Event Date”), then in addition to any other rights the Holders may have hereunder or under applicable law, on each such Event Date and on each monthly anniversary of each such Event Date (if the applicable Event shall not have been cured by such date) until the applicable Event is cured, the Company shall give notice pay to each Holder an amount in cash, as partial liquidated damages and not as a penalty, equal to $15,000.00. If the Company fails to pay any partial liquidated damages pursuant to this Section in full within fifteen (15) days after the date payable, the Company will pay interest thereon at a rate of 12% per annum (or such lesser maximum amount that is permitted to be paid by applicable law) to the other Holders of Holder, accruing daily from the Purchase Warrants advising that the Company is proceeding with date such registration statement and offering to include therein Purchase Warrants of partial liquidated damages are due until such other Holdersamounts, plus all such interest thereon, are paid in full. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed partial liquidated damages pursuant to the terms hereof shall apply on a daily pro-rata basis for any portion of this Purchase Warrant, declared effective by a month prior to the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holdercure of an Event.

Mandatory Registration. Solely in (a) By the event there later to occur of (i) thirty (30) days after the Closing (or, if the date that is thirty (30) days after the Closing is not then a current registration statement concerning business day, the resale of the Registrable Securitiesnext business day immediately following such date) or (ii) November 15, 2003, the Company shall will prepare and file with the SEC a registration statement on one occasion at its sole expense, upon Form S-2 for the written notice purpose of registering under the Securities Act all of the Holder at any time commencing six (6) months after Registrable Securities for resale by, and for the date that this Warrant becomes exercisable and on or before account of, the fifth anniversary date of the Effective Date, a required registration statement Holders as selling stockholders thereunder (the “Required Registration Statement”) concerning ). The Registration Statement shall permit the resale of Holders to offer and sell, on a delayed or continuous basis pursuant to Rule 415 under the Securities Act, any or all of the Registrable Securities. The Required Company agrees to use commercially reasonable efforts to cause the Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 become effective as soon as such form is available, provided that reasonably practicable (which shall include using commercially reasonable efforts to respond to any comments of the SEC in respect of the Registration Statement within ten (10) business days following receipt thereof. The Company shall maintain use its commercially reasonable efforts to keep the effectiveness of all Registration Statements then in effect Statement effective until such time as a Registration Statement on Form F-3 covering date that is the resale earlier of (i) the date when all of the Registrable Securities registered thereunder shall have been sold or (ii) two (2) years after the Closing, subject to extension as set forth below (such date is referred to herein as the “Mandatory Registration Termination Date”). Thereafter, the Company shall be entitled to withdraw the Registration Statement and the Holders shall have no further right to offer or sell any of the Registrable Securities pursuant to the Registration Statement (or any prospectus relating thereto). In the event the right of the selling Holders to use the Registration Statement (and the prospectus relating thereto) is delayed or suspended pursuant to Sections 4(c) or 10 hereof, if the events described in clause (i) or (ii) above of this subsection (a) have not yet occurred, the Company shall be required to extend the Mandatory Registration Termination Date by the same number of days as such delay or Suspension Period (as defined in Section 10 hereof), provided that such delay is not the result of the Holders’ failure or delay to furnish information required under Section 5 hereof. (b) In the event that the Registration Statement is not filed with the SEC by the later of (i) thirty (30) days after the Closing (or, if the date that is thirty (30) days after the Closing is not a business day, the next business day immediately following such date) or (ii) November 15, 2003, or the Company fails to use its commercially reasonable efforts to respond to any comments of the SEC in respect of the Registration Statement within ten (10) business days following receipt thereof, the Company shall pay, at its sole option, either in (ii) cash, check or by wire transfer, or (ii) in common stock of the Company at the then current five-day trading average of such common stock to each Investor, one percent (1.0%) of the aggregate Purchase Price (as defined in the Securities Purchase Agreement) paid by the Investor for all Shares sold to each such Investor pursuant to the Securities Purchase Agreement. For every additional thirty (30) days that the Company continues to be delayed from filing the Registration Statement with the SEC or continues to fail to use its commercially reasonable efforts to respond to any comments of the SEC in respect of the Registration Statement, the Company will issue to each Investor, an additional one percent (1.0%) of the Shares sold to each such Investor pursuant to the Securities Purchase Agreement in accordance with the terms in this Section 3(b). (c) Within three (3) business days after a Registration Statement that covers applicable Registrable Securities is declared effective by the SEC, the Company shall deliver, or shall cause legal counsel to deliver, to the transfer agent for such Registrable Securities (with copies to the Holders whose Registrable Securities are included in such Registration Statement) confirmation that such Registration Statement has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice in such form as agreed to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing counsel to the Company within five and counsel to the Holders at such time. (5d) days thereafter. The Company shall use its best efforts Subject to have such Required Registration Statementreview and comment by the SEC, and each other the Plan of Distribution set forth in the Registration Statement required to shall be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC substantially as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants set forth in those jurisdictions requested by the HolderExhibit B attached hereto.

Mandatory Registration. Solely in (a) The Company agrees to file with the event there is not then SEC a current registration statement concerning to register under and in accordance with the provisions of the Securities Act, the resale of the Purchaser’s Registrable Securities, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be Securities on Form F-3 or Form F-1, which shall be the sole decision of the Company (which shall be filed pursuant to Rule 415 under the Securities Act as a secondary-only registration statement), if available the Company is then eligible for such a short form, or any similar or successor short form registration and or, if unavailable, the Company shall is not then eligible for such short form registration or would not be able to register the for resale all of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities F-3, on Form F-3 as soon as such F-1 or any similar or successor long form is available, provided that registration (the Company shall maintain the effectiveness of all “Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafterStatement”). The Company shall use its best commercially reasonable efforts to have such Required Registration Statement, and each other the Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicablepracticable after the filing thereof, but no later than ninety (90) calendar days after the Closing Date (the “Effectiveness Deadline”); provided that the Effectiveness Deadline shall be extended to one hundred and twenty (120) calendar days after the Closing Date if the Registration Statement is reviewed by, and receives comments from, the SEC; provided, further, that the Company’s obligations to include the Purchaser’s Registrable Securities in the Registration Statement are contingent upon the Purchaser’s furnishing in writing to the Company such information regarding the Purchaser, the Registrable Securities held by the Purchaser and the intended method of disposition of the Registrable Securities as shall be reasonably requested by the Company to effect the registration of the Registrable Securities, and shall execute such documents in connection with such registration as the Company may reasonably request that are customary of a selling shareholder in similar situations. The Company will provide a draft of the Registration Statement to the Purchaser for review at least two (2) Business Days in advance of filing the Registration Statement. In no event shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for Purchaser be identified as a statutory underwriter in the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions Registration Statement unless requested by the HolderSEC. (b) Notwithstanding the foregoing, if the SEC prevents the Company from including any or all of the Registrable Securities proposed to be registered under the Registration Statement due to limitations on the use of Rule 415 under the Securities Act for the resale of the Registrable Securities by the Purchaser or otherwise, such Registration Statement shall register for resale such number of Purchaser which is equal to the maximum number of the Securities as is permitted by the SEC. In such event, the number of the Registrable Securities to be registered for each selling shareholder named in the Registration Statement shall be reduced pro rata among all such selling shareholders; provided that the Securities of the Investors and Holders (as defined in the Fourth Amended and Restated Shareholders Agreement of the Company dated July 25, 2019 (the “Shareholders Agreement”) shall all be included in such Registration Statement pursuant to the terms of the Shareholders Agreement before the inclusion of the Registrable Securities to be registered for the Purchaser. (c) The Company will use its commercially reasonable efforts to maintain the continuous effectiveness of the Registration Statement for a period of ninety (90) days after the effectiveness of the Registration Statement or such shorter period upon which the Purchaser has notified the Company that its Registrable Securities have actually been sold. The period of time during which the Company is required hereunder to keep a Registration Statement effective is referred to herein as the “Registration Period.” The Company will use its commercially reasonable efforts to (i) cause the removal of all restrictive legends from any Purchased Shares being sold under the Registration Statement no later than ten (10) Business Days after the effectiveness thereof, subject to the requirements under applicable securities Laws and/or from the Company’s depositary bank administering the relevant ADS program, or pursuant to Rule 144 under the Securities Act (“Rule 144”) at the time of sale of such Registrable Securities and, at the request of the Purchaser, cause the removal of all restrictive legends from any Registrable Securities held by the Purchaser that may be sold by the Purchaser without restriction under Rule 144, including without limitation, any volume and manner of sale restrictions, and (ii) cause its legal counsel to deliver the necessary legal opinions, if any, to the transfer agent in connection with the instruction under subclause (i) upon the receipt of such supporting documentation, if any, as reasonably requested by such counsel. For the avoidance of doubt, nothing in the immediately preceding sentence shall relieve the Company of any obligations under Section 5.7 of this Agreement. The Company will use commercially reasonable efforts to file all reports, and provide all customary and reasonable cooperation, reasonably necessary to enable the Purchaser to resell Registrable Securities pursuant to the Registration Statement or Rule 144, as applicable, qualify the Registrable Securities for listing on the applicable stock exchange and update or amend the Registration Statement as necessary to include Registrable Securities. (d) For purposes of this Annex, “Registrable Securities” shall mean the Purchased Shares and the Warrant Shares (if any) (whether held in the form of ADSs or Ordinary Shares), including any ADSs or Ordinary Shares issuable with respect to the Purchased Securities by way of a dividend, share split or other distribution, or in connection with a combination of shares, recapitalization, merger, consolidation or other reorganization; provided that such Registrable Securities shall not be considered to be Registrable Securities (i) at any time that (but only during such time as) such security is eligible to be sold pursuant to Rule 144 without condition or restriction, including without any limitation as to volume of sales, and without the Purchaser complying with any method of sale requirements or notice requirements under Rule 144, or (ii) if such Securities have been sold pursuant to an effective registration statement or in compliance with Rule 144 or other exemptions from registration; provided, further, that paragraph 1(a) (Mandatory Registration) of this Annex A shall not be available to the Purchaser with respect to the Warrant Shares (if any).

Mandatory Registration. Solely in The Company agrees that, within fifteen (15) calendar days following the event there is not then Closing Date (the “Filing Deadline”), the Company will file with the SEC (at the Company’s sole cost and expense) a current registration statement concerning on appropriate form registering the resale of the full amount of Shares, Pre-Funded Warrant Shares and Warrant Shares (and any other equity security issued or issuable with respect to the Shares, Pre-Funded Warrant Shares and Warrant Shares by way of share split, dividend, distribution, recapitalization, merger, exchange, or replacement, the “Registrable Securities”) and naming the Purchaser as a selling shareholder thereunder (the “Registration Statement”), and the Company shall prepare and file with use its commercially reasonable efforts to have the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months Registration Statement declared effective as soon as practicable after the date that this Warrant becomes exercisable and on or before filing thereof, but in any event no later than thirty (30) calendar days after the fifth anniversary date of the Effective Date, a required registration statement Closing Date (the “Required Registration StatementEffectiveness Deadline”); provided, that the Effectiveness Deadline shall be extended to sixty (60) concerning calendar days after the resale filing of all of the Registrable Securities. The Required such Registration Statement shall be on Form F-3 if available for such a registration Registration Statement is reviewed by, and if unavailablecomments thereto are provided from, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is availableSEC; provided, provided further that the Company shall maintain have the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering declared effective within three (3) Business Days after the resale of all date the Company is notified (orally or in writing, whichever is earlier) by the staff of the Registrable Securities SEC (the “Staff”) that the Registration Statement will not be “reviewed” or will not be subject to further review. The Company shall provide a draft of the Registration Statement to Purchaser at least five (5) Business Days in advance of the date of filing the Registration Statement with the SEC (the “Filing Date”), and Purchaser shall provide any comments on the Registration Statement to the Company no later than two (2) Business Days immediately preceding the Filing Date. Upon notification by the SEC that any Registration Statement has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten SEC, within two (102) days after receiving written notice from the HolderBusiness Day thereafter, the Company shall give notice to file the other Holders final prospectus under Rule 424 of the Purchase Warrants advising Securities Act. In no event shall the Purchaser be identified as a statutory underwriter in the Registration Statement unless requested by the SEC; provided, that if the Company is proceeding with SEC requests that Purchaser be identified as a statutory underwriter in the Registration Statement, Purchaser will have the option, in its sole and absolute discretion, to either (i) have the opportunity to withdraw from the Registration Statement, in which case the Company’s obligation to register the Registrable Securities will be deemed satisfied or (ii) be included as such registration statement and offering in the Registration Statement. Subject to any comments from the SEC, such Registration Statement shall include therein Purchase Warrants the plan of such distribution attached hereto as Exhibit A. Such Registration Statement shall not include any shares of Common Stock or other Holderssecurities for the account of any other holder without the prior written consent of the Purchaser. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer notify the Purchaser by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statementfacsimile or e-mail as promptly as practicable, and each other in any event, within twenty-four (24) hours, after the Registration Statement required is declared effective or is supplemented and shall provide the Purchaser with copies of any related prospectus to be filed pursuant to used in connection with the terms sale or other disposition of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holdersecurities covered thereby.

Mandatory Registration. Solely in If Requisite Holders shall give written notice to the event there is not then Company at any time within the period (the "Registration Period") commencing after the consummation of the Offering and terminating at the expiration of the earliest to occur of (a) the sale of all the Registrable Securities pursuant to a current registration statement concerning filed in connection with the resale registration rights set forth in this Agreement or (b) the receipt by the holder(s) of opinion(s) from counsel that the Registrable Securities may be publicly sold pursuant to Rule 144(k) of the Rules and Regulations of the Act and applicable state securities registration requirements without any limitation on the amount of Registrable SecuritiesSecurities sold, to the effect that such Holder contemplates the transfer of all or any part of his or her Registrable Securities under such circumstances that a public distribution (within the meaning of the Act) of Registrable Securities will be involved, then within one hundred and twenty (120) days after receipt of such notice, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at either a post-effective amendment to any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required existing applicable registration statement (or a new registration statement pursuant to the “Required Registration Statement”) concerning Securities Act, to the resale of all of end that the Registrable Securities. The Required Registration Statement Securities may be sold under the Securities Act as promptly as practicable thereafter, and the Company will-use its best efforts to cause such post-effective amendment or new registration statement to become effective, provided that such Holder shall furnish the Company with appropriate information (relating to the intentions of such Holder, including the number of Registrable Securities to be on Form F-3 if available for such a registration registered and if unavailable, the intended method of distribution thereof) in connection therewith as the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then request in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for usewriting. Within ten (10) days after receiving written any notice from the Holderpursuant to this Section 1.2, the Company shall give written notice to the other Holders of the Purchase Warrants Registrable Securities, advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants the Registrable Securities of such other Holders. The Holder, provided that within thirty (30) days after the date on which the Company shall not be obligated to any such other Holder unless such other Holder have given notice, the Holders shall accept such offer by notice notify the Company in writing that they desire to have their Registrable Securities included in such registration statement and shall promptly furnish the Company with such appropriate information (relating to the Company within five (5intentions of such Holders, including the number of Registrable Securities to be registered and the intended method of distribution thereof) days thereafter. The in connection therewith as the Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants reasonably request in those jurisdictions requested by the Holderwriting.

Mandatory Registration. Solely in (i) On or prior to the event there is not then a current registration statement concerning the resale of the Registrable SecuritiesFiling Deadline, the Company shall will prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, Commission a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register covering the resale of the Registrable Securities for an offering to be made on a continuous basis pursuant to Rule 415. The Registration Statement will be on Form S-1 or another appropriate form reasonably acceptable to S-3 (except if the Holder and undertake Company is not then eligible to register the for resale of the Registrable Securities on Form F-3 S-3, in which case such registration will be on Form S-1, and if for any reason the Company is not then eligible to register for resale the Registrable Securities on Form S-1, then another appropriate form for such purpose) and will contain (except if otherwise required pursuant to written comments received from the Commission upon a review of such Registration Statement) a “Plan of Distribution” section, substantially in the form attached hereto as Annex A, as the same may be amended in accordance with the provisions of this Agreement. The Company will use its reasonable best efforts to cause the Registration Statement to be declared effective under the Securities Act as soon as possible but, in any event, no later than the Effectiveness Deadline, and will use their reasonable best efforts to keep the Registration Statement (or a Subsequent Form S-3) continuously effective under the Securities Act until such date when the Registrable Securities covered by the Registration Statement cease to be Registrable Securities as determined by the counsel to the Company (the “Effectiveness Period”). (ii) Notwithstanding the registration obligations set forth in this Section 2(a), if the Commission informs the Company that all of the Registrable Securities cannot, as a result of the application of Rule 415, be registered for resale as a secondary offering on a single registration statement, the Company agrees to promptly inform each of the Holders thereof and use its reasonable best efforts to file amendments to the Initial Registration Statement as required by the Commission, covering the maximum number of Registrable Securities permitted to be registered by the Commission, on Form S-3 (or Form S-1, if available) or such other form is availableavailable to register for resale the Registrable Securities as a secondary offering; provided, provided however, that prior to filing such amendment, the Company shall maintain be obligated to use diligent efforts to advocate with the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering Commission for the resale registration of all of the Registrable Securities has been declared effective in accordance with the Commission Guidance, including without limitation, Compliance and Disclosure Interpretation 612.09. (iii) Notwithstanding any other provision of this Agreement, if the Commission or any Commission Guidance sets forth a limitation on the number of Registrable Securities permitted to be registered on a particular Registration Statement as a secondary offering (and notwithstanding that the Company used diligent efforts to advocate with the Commission for the registration of all or a greater portion of Registrable Securities), unless otherwise directed in writing by a Holder as to its Registrable Securities, the SEC and number of Registrable Securities to be registered on such Registration Statement will be reduced by reducing or eliminating any securities to be included other than Registrable Securities. (iv) In the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holderevent of a cutback under this Section 2(a), the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within at least five (5) days thereafterTrading Days prior written notice along with the calculations as to such ▇▇▇▇▇▇’s allotment. The In the event the Company shall amends the Registration Statement in accordance with the foregoing, the Company will use its best efforts to have file with the Commission, as promptly as allowed by Commission or Commission Guidance provided to the Company or to registrants of securities in general, one or more registration statements on Form S-3 (or Form S-1 if available) or such Required other form available to register for resale those Registrable Securities that were not registered for resale on the Initial Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holderamended.

Mandatory Registration. Solely in (i) The Company shall use its reasonable best efforts to file by the event there is not then 45th day following the Closing (such date, the “Filing Deadline”), with the SEC, a current registration statement concerning on Form S-1 or such other SEC form which the Company is eligible to use with respect to the resale from time to time, whether underwritten or otherwise, of the Registrable Securities by the Holders. The Company shall use Form S-3, if it is then eligible to use Form S-3. The Company shall use its reasonable best efforts to promptly respond to all SEC comments, if any, related to such registration statement but in any event within two weeks of the receipt thereof, and shall use its reasonable best efforts to obtain all such qualifications and compliances as may be so requested and as would permit or facilitate the sale and distribution of all of the Holders’ Registrable Securities, including causing such registration statement to be declared effective by the SEC as soon as practicable after filing and no later than the Effectiveness Deadline. The Company shall use its reasonable best efforts to maintain the effectiveness of the registration effected pursuant to this Section 2.1(a) at all times. The registration contemplated by this Section 2.1(a) is referred to herein as the “Mandatory Registration.” The Mandatory Registration shall be filed with the SEC in accordance with and pursuant to Rule 415 promulgated under the Securities Act (or any successor rule then in effect) (a “Shelf Registration”). So long as any such Shelf Registration is effective as required herein and in compliance with the Securities Act and is usable for resale of Registrable Securities, the Holders shall be entitled to demand any number of takedowns (including underwritten takedowns, provided that (i) the Registrable Securities requested to be included in such underwritten takedown constitute at least 25% of the Registrable Securities then outstanding or (ii) the anticipated aggregate offering price based on the then-current market prices, net of underwriting discounts and commissions, would exceed $10,000,000 from the Shelf Registration. In connection with any such takedown, the Company shall prepare take all customary and file reasonable actions that the Company would take in connection with an underwritten registration pursuant to Section 2.3 (including, without limitation, all actions referred to in Section 2.5 necessary to effectuate such sale in the SEC on one occasion manner determined by the Holders of at its sole expense, upon the written notice least a majority of the Holder at any time commencing six Registrable Securities to be included in such underwritten takedown). The Company shall use its reasonable best efforts to cause the registration statement or statements filed hereunder to remain effective until such date (6the “Shelf Termination Date”) months after that is the earlier of (i) the date on which all Registrable Securities included in the registration statement shall have been sold or shall have otherwise ceased to be Registrable Securities and (ii) the date that this Warrant becomes exercisable all Registrable Securities covered by such registration statement may be sold without volume or manner of sale restrictions under Rule 144 (after taking into account any Holder’s status as an Affiliate of the Company) for purposes of Rule 144 and without the requirement for compliance by the Company with the current public information requirements under Rule 144(c)(1) or, if applicable, Rule 144(i)(2), as determined by counsel to the Company (the “Effectiveness Period”). In the event the Mandatory Registration must be effected on Form S-1 or before any similar long-form registration as the fifth anniversary date Company may elect or is required to use, such registration shall nonetheless be filed as a Shelf Registration and the Company shall use its reasonable best efforts to keep such registration current and effective, including by filing periodic post-effective amendments to update the information therein, as determined by counsel to the Company, including the financial statements contained in such registration statement in accordance with Regulation S-X promulgated under the Securities Act until the Shelf Termination Date. The Company shall not include in the Mandatory Registration any securities which are not Registrable Securities without the prior written consent of the Holders of at least a majority of the Registrable Securities included in such registration. The Company shall request effectiveness of a Registration Statement as of 5:00 P.M. New York City time on a Business Day. The Company shall promptly notify the Holders via facsimile or electronic mail in a “.pdf” format data file of the effectiveness of a Registration Statement within one (1) Business Day of the Effective Date. The Company shall, by 9:30 A.M. New York City time on the first Business Day after the Effective Date, file a final Prospectus with the Commission, as required by Rule 424(b). (ii) Notwithstanding the registration obligations set forth in this Section 2.1(a), in the event the SEC informs the Company that all of the Registrable Securities then outstanding cannot, as a result of the application of Rule 415 of the Securities Act, be registered for resale as a secondary offering on a single registration statement, the Company agrees to promptly (i) inform each of the Holders thereof and use its commercially reasonable efforts to file amendments to the initial registration statement as required by the SEC and/or (ii) withdraw the “Required Registration Statement”) concerning initial registration statement and file a new registration statement, in either case covering the maximum number of Registrable Securities permitted to be registered by the SEC, on Form ▇-▇, ▇▇▇▇ ▇-▇ or such other form available to the Company to register for resale the Registrable Securities as a secondary offering; provided, that prior to filing such amendment or new registration statement, the Company shall be obligated to use its commercially reasonable efforts to advocate with the Commission for the registration of all of the Registrable SecuritiesSecurities in accordance with the SEC Guidance, including without limitation, Compliance and Disclosure Interpretation 612.09. The Required Notwithstanding any other provision of this Agreement, if any SEC Guidance sets forth a limitation of the number of Registrable Securities or other shares of Common Stock permitted to be registered on a particular Registration Statement shall as a secondary offering (and notwithstanding that the Company used diligent efforts to advocate with the SEC for the registration of all or a greater number of Registrable Securities), the number of Registrable Securities or other shares of Common Stock to be registered on such registration statement will be reduced on a pro rata basis. In the event the Company amends the initial registration statement or files a new registration statement, as the case may be, under clauses (i) or (ii) above, the Company will use its commercially reasonable efforts to file with the SEC, as promptly as allowed by SEC or SEC Guidance provided to the Company or to registrants of securities in general, one or more registration statements on Form F-3 if ▇-▇, ▇▇▇▇ ▇-▇ or such other form available to the Company to register for resale those Registrable Securities that were not registered for resale on the initial registration statement, as amended, or the new registration statement. (iii) If: (i) the initial registration statement required to be filed pursuant to this Section 2.1(a) is not filed with the SEC on or prior to the Filing Deadline, or (ii) the initial registration statement required to be filed pursuant to this Section 2.1(a) is not declared effective by the SEC (or otherwise does not become effective) for any reason on or prior to the Effectiveness Deadline (any such a registration and if unavailablefailure being referred to as an “Event,” and, the date on which such Event occurs, being referred to as an “Event Date” for purposes of this Section 2.1(a)(iii)), then in addition to any other rights the Holders may have hereunder or under applicable law, on each Event Date, the Company shall pay one time to each Holder an amount in cash, as liquidated damages and not as a penalty (“Liquidated Damages”), equal to 1% of the purchase price paid in cash for any Registrable Securities held by such Holder on the Event Date. The parties agree that notwithstanding anything to the contrary herein or in the Stock Purchase Agreement, no Liquidated Damages shall be payable if as of the relevant Event Date, the Registrable Securities may be sold by non-affiliates without volume or manner of sale restrictions under Rule 144 and the Company is in compliance with the current public information requirements under Rule 144(c)(1) (or Rule 144(i)(2), if applicable), as determined by counsel to the Company. The Effectiveness Deadline for a registration statement shall be extended without default or Liquidated Damages hereunder in the event that the Company’s failure to obtain the effectiveness of the registration statement on a timely basis results from the failure of an Investor to timely provide the Company with information requested by the Company and necessary to complete the registration statement in accordance with the requirements of the Securities Act (in which case the Effectiveness Deadline would be extended). (iv) In the event that Form S-3 is not available for the registration of the resale of Registrable Securities hereunder, the Company shall (i) register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and (ii) undertake to register the resale of the Registrable Securities on Form F-3 as soon as S-3 promptly after such form is available, provided provided, that the Company shall maintain the effectiveness of all Registration Statements the registration statement then in effect until such time as a Registration Statement registration statement on Form F-3 S-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the HolderCommission.

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6i) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have prepare and, as soon as practicable but in no event later than the Initial Filing Deadline, file with the Commission an Initial Registration Statement on Form S-3 covering the resale of all of the Initial Registrable Securities. In the event that Form S-3 is unavailable for such a registration, the Company shall use such other form as is available for such a registration, subject to the provisions of Section 2(d) of this Agreement. The Initial Registration Statement prepared pursuant hereto shall register for resale at least that number of shares of Common Stock equal to the Initial Required Registration Statement, and each other Amount determined as of the date such Initial Registration Statement required is initially filed with the Commission. The Initial Registration Statement shall contain (except if otherwise directed by the holders of at least a majority of the Registrable Securities) the “Selling Securityholders” and “Plan of Distribution” sections in substantially the form attached hereto as Exhibit B. The Company shall use reasonable efforts to be filed pursuant to have the terms of this Purchase Warrant, Initial Registration Statement declared effective by the SEC Commission as soon as practicable, but not later than the Initial Effectiveness Deadline. By 9:30 am on the Business Day following the Initial Effectiveness Date, the Company shall file with the Commission in accordance with Rule 424 under the 1933 Act the final prospectus to be used in connection with sales pursuant to such Initial Registration Statement. (ii) The Company shall pay use its best efforts to prepare and, as soon as practicable but in no event later than the costs Additional Filing Deadline, file with the Commission an Additional Registration Statement on Form S-3 covering the resale of all of the Additional Registrable Securities not previously registered on an Additional Registration Statement hereunder. To the extent the staff of the SEC does not permit the Additional Required Registration Amount to be registered on an Additional Registration Statement, the Company shall file, by the applicable Additional Filing Deadline, Additional Registration Statements successively trying to register on each such Additional Registration Statement the maximum number of remaining Additional Registrable Securities until the earlier of the date that (i) the Additional Required Registration Amount has been registered with the Commission and expenses thereof(ii) the expiration of the Registration Period. In the event that Form S-3 is unavailable for such a registration, the Company shall use such other form as is available for one time onlysuch a registration, which costs and expenses subject to the provisions of Section 2(d) of this Agreement. Each Additional Registration Statement prepared pursuant hereto shall include register for resale at least that number of shares of Common Stock equal to the Additional Required Registration Amount determined as of the date such Additional Registration Statement is initially filed with the Commission. Each Additional Registration Statement shall contain (except if otherwise directed by the holders of at least a majority of the Registrable Securities) the “Blue SkySelling Securityholders” fees for counsel for the Underwriter and “Blue SkyPlan of Distribution” filing fees sections in substantially the form attached hereto as Exhibit B. The Company shall use reasonable efforts to qualify the Purchase Warrants in those jurisdictions requested have each Additional Registration Statement declared effective by the HolderCommission as soon as practicable, but not later than the applicable Additional Effectiveness Deadline. By 9:30 am on the Business Day following the Additional Effectiveness Date, the Company shall file with the Commission in accordance with Rule 424 under the 1933 Act the final prospectus to be used in connection with sales pursuant to such Additional Registration Statement.

Mandatory Registration. Solely in 3.1. Within thirty (30) calendar days after the event there is not then a current registration statement concerning the resale of the Registrable SecuritiesEffective Date, the Company shall will prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (on Form S-3, or any other available form if the “Required Registration Statement”) concerning Company is not eligible to use Form S-3, for the resale purpose of registering under the Securities Act all of the Registrable SecuritiesShares for resale by, and for the account of, the Holders as selling stockholders thereunder (the “Registration Statement”). The Required Registration Statement shall permit the Holders 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 commercially reasonable efforts to cause the Registration Statement to become effective as soon as practicable after the filing thereof, and in no event later than the earlier of (i) ninety (90) calendar days following the Effective Date (subject to reasonable extension to the extent necessary to accommodate a delay resulting from unresolved SEC comments or the need to file financial statements within the time periods prescribed by the SEC) and (ii) the fifth calendar day following the date on which the Company is notified by the SEC that (a) such Registration Statement will not be on Form F-3 if available reviewed or is no longer subject to further review and comments and that (b) the SEC is willing to declare the Registration Statement effective. The Registration Statement filed pursuant to this Section 3.1 (and each amendment or supplement thereto, and each request for acceleration of effectiveness thereof) shall be provided to each Holder and its counsel prior to its filing or other submission. 3.2. The Company shall be required to keep the Registration Statement effective until such a registration date that is the earlier to occur of (i) the date as of which all of the Holders may sell all of the Registrable Shares to the public without restriction pursuant to Rule 144 (or the successor rule thereto) promulgated under the Securities Act, and if unavailable(ii) the date when all of the Registrable Shares registered thereunder shall have been sold pursuant to the Registration Statement or Rule 144 (such date is referred to herein as the “Mandatory Registration Termination Date”). Thereafter, the Company shall register be entitled to withdraw the resale Registration Statement and the Holders shall have no further right to offer or sell any of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable Shares pursuant to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the (or any prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holdersrelating thereto). The Company shall not be obligated required to any such other Holder unless such other Holder shall accept such register the offer by notice in writing and sale of the Registrable Shares pursuant to the Company within five (5) days thereafterRegistration Statement in an underwritten offering. 3.3. The Company shall use its best efforts to have such Required Registration Statementnot, and each shall not agree to (i) allow the holders of any securities of the Company, other than holders of the Registrable Shares, to include any of their securities in the Registration Statement required under Section 3.1 hereof or any amendment or supplement thereto without the consent of the Holders or (ii) offer any securities for its own account or the account of others in the Registration Statement under Section 3.1 hereof or any amendment or supplement thereto without the consent of the Holders, in each such case, subject to, and other than with respect to, any registration obligations of the Company under any agreement entered into prior to be filed the Effective Date; provided, however, that the Company at all times reserves the right to provide registration rights, pursuant to a separate registration statement, to the terms holders of this Purchase Warrant, declared effective by any securities of the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the HolderCompany.

Mandatory Registration. Solely in If, at any time during the event there Demand Registration Period, the Company receives a written notice (the “Demand Notice”, and the date of Company’s receipt of the Demand Notice, “Demand Notice Date”) from any of the Shareholders, and so long as the Demand Registration Conditions have been satisfied as of such Demand Notice Date, the Company will prepare and file with the Commission a Registration Statement covering the resale from time to time of all Registrable Securities for an offering to be made on a continuous and/or delayed basis pursuant to Rule 415 or the equivalent thereof under Canadian securities laws, as applicable (the “Shelf Registration Statement”). The Registration Statement may be on either Form F-10 or Form F-3 or S-3 (except if the Company is not then eligible to register for resale the Registrable Securities on either such form, in which case such registration will be on Form F-1 or S-1, and if for any reason the Company is not then eligible to register for resale the Registrable Securities on Form F-1 or S-1, then on such other form of Shelf Registration Statement as is then available to effect a current registration statement concerning the for resale of the Registrable Securities) and will contain (except if otherwise required pursuant to written comments received from the Commission upon a review of such Registration Statement) a “Plan of Distribution” section, substantially in the form attached hereto as Annex A, as the same may be amended in accordance with the provisions of this Agreement, provided that if the Company is then a WKSI as of the applicable filing date, such Shelf Registration Statement shall be an automatic Shelf Registration Statement. As permitted under the MJDS, any such Registration Statement that is filed on Form F-10 (an “MJDS Registration Statement”) may refer to selling securityholders generically, in contemplation of the filing, following the effectiveness of such Registration Statement, of a prospectus supplement to the prospectus included therein (the “MJDS Prospectus Supplement”), naming the selling Holders on the basis of the information provided in the Selling Holder Questionnaire. The Company will use its reasonable best efforts to cause the Registration Statement to be declared or otherwise become effective under the Securities Act and, in the case of an MJDS Registration Statement, the Company shall prepare file the MJDS Prospectus Supplement, as soon as possible but, in any event, no later than the Effectiveness Deadline, and file with will use its reasonable best efforts to keep the SEC on one occasion at its sole expense, upon Registration Statement (or a Subsequent Shelf) continuously effective under the written notice of the Holder at any time commencing six (6) months after Securities Act from the date that this Warrant becomes exercisable and on or before of effectiveness of such Registration Statement until such date when all Registrable Securities covered by the fifth anniversary date of Registration Statement cease to be Registrable Securities as determined by the Effective Date, a required registration statement counsel to the Company (the “Required Effectiveness Period”). For purposes of this Agreement, “Demand Registration Statement”Conditions” means (A) concerning the resale of all as of the Registrable Securities. The Required Registration Statement shall be appliable Demand Notice Date, the Common Shares are listed on Form F-3 if available for such a registration Trading Market in the United States; and if unavailable(B) on or prior to the Demand Notice Date, the Company shall register have received (or caused to be prepared) audited financial statements of Success TMS to the resale extent such audited financial statements are required by applicable U.S. securities laws, rules and regulations (including, but not limited to, Rule 3-05 of Regulation S-X under the Securities Act) for the filing of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required applicable Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holder.

Mandatory Registration. Solely in the event there is not then (a) The Company shall be required to file a current registration statement concerning the resale Registration Statement on or prior to each Filing Date until all of the Registrable SecuritiesSecurities are registered for resale by the Investors and the Placement Agent as selling stockholders thereunder. On or prior to each Filing Date, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon a Registration Statement for the written notice purpose of registering under the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning Securities Act the resale of all, or such portion as permitted by SEC Guidance (provided that, the Company shall use commercially reasonable efforts to advocate with the SEC for the registration of all or the maximum number of the Registrable Securities as permitted by SEC Guidance), of the Registrable Securities by, and for the account of, the Investors and the Placement Agent as selling stockholders thereunder, that are not then registered on an effective Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415. No other securities shall be included in the Initial Registration Statement that is filed except for the Registrable Securities. The Required Each Registration Statement shall be on Form F-3 if available for such contain a registration and if unavailable“Plan of Distribution” section reasonably acceptable to the Placement Agent. Subject to the terms of this Agreement, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as cause a Registration Statement on Form F-3 covering to be declared effective under the resale Securities Act as promptly as possible after the filing thereof and will use commercially reasonable efforts in this regard. (b) The Company shall be required to keep a Registration Statement effective (the “Effectiveness Period”) until such date that is the earlier of (i) the date as of which all of the Investors as selling stockholders thereunder may sell all of the Registrable Securities has registered for resale thereon without “restriction” pursuant to Rule 144 (or any successor rule thereto) promulgated under the Securities Act or (ii) the date when all of the Registrable Securities registered thereunder shall have been declared effective by sold (such date is referred to herein as the SEC and the prospectus contained therein is available for use“Mandatory Registration Termination Date”). Within ten (10) days after receiving written notice from the HolderThereafter, the Company shall give notice be entitled to withdraw such Registration Statement and the Investors shall have no further right to offer or sell any of the Registrable Securities registered for resale thereon pursuant to the respective Registration Statement (or any prospectus relating thereto). The Company acknowledges that its former status as a “shell company” and its ongoing requirement, under current Rule 144, to be current in its SEC periodic filings for 12 months prior to any Rule 144 sale is a continual “restriction” pursuant to Rule 144 for purposes of this Agreement. (c) Notwithstanding any other Holders provision of this Agreement, if any SEC Guidance sets forth a limitation of the Purchase Warrants advising number of Registrable Securities to be registered in the Initial Registration Statement (and notwithstanding that the Company is proceeding used commercially reasonable efforts to advocate with such the SEC for the registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder all or a greater number of Registrable Securities unless such other Holder shall accept such offer by notice otherwise directed in writing by the Majority Holders), the number of Registrable Securities to be registered on such Registration Statement will first be reduced by the Placement Agent Warrant Shares, second by the Registrable Securities represented by Underlying Shares (applied, in the case that some Underlying Shares may be registered, to the Investors on a pro rata basis based on the total number of unregistered Underlying Shares held by such Investors on a fully diluted basis) and third by Registrable Securities represented by Purchased Shares (applied, in the case that some Purchased Shares may be registered, to the Investors on a pro rata basis based on the total number of unregistered Purchased Shares held by such Investors). (d) If during the Effectiveness Period, subject to Sections 3(a) and 3(c), the Company within five (5) days thereafter. The Company shall use its best efforts to have such Required becomes aware that the number of Registrable Securities at any time exceeds the number of Registrable Securities then registered for resale in a Registration Statement, and each other Registration Statement required to be filed pursuant to then the terms of this Purchase Warrant, declared effective by the SEC Company shall file as soon as practicable. The Company shall pay reasonably practicable an additional Registration Statement covering the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for resale of not less than the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested by the Holdernumber of such Registrable Securities that are not then registered.

Mandatory Registration. Solely in No later than thirty (30) days after the event there is not then a current registration statement concerning the resale of the Registrable SecuritiesFirst Closing Date, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required First Closing Registration Statement”) concerning with the resale Securities and Exchange Commission (the “SEC”) which seeks to register the Shares and the First Closing Underlying Shares (the "First Closing Registerable Securities") under the Securities Act of all of 1933 (the Registrable Securities“1933 Act”). The Required Registration Statement shall be on Form F-3 No later than thirty (30) days after the Second Closing Date, if available for such a registration and if unavailableany, the Company shall register file an additional registration statement (the resale of “Second Closing Registration Statement” and, together with the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to First Closing Registration Statement, the Holder and undertake “Registration Statements”) with the SEC which seeks to register the resale of Second Closing Underlying Shares (the "Second Closing Registerable Securities" and together with the First Closing Registrable Securities on Form F-3 as soon as Securities, the “Registrable Securities”) under the 1933 Act. The Company will use its best efforts to cause such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been to be declared effective by the SEC and the prospectus contained therein is available for use. Within ten within sixty (1060) days after receiving written notice from their respective initial filings with the Holder, the Company shall give notice SEC. Notwithstanding anything to the other Holders of contrary contained in this Section 1, in the Purchase Warrants advising effect that the First Closing Registration Statement has not been declared effected by the SEC at the time that the Company is proceeding with such registration statement and offering required to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to file the Company within five (5) days thereafter. The Second Closing Registration Statement, the Company shall use its best efforts to have include the Second Closing Registerable Securities on the First Closing Registration Statement. a. To the extent the staff of the SEC does not permit all of the First Closing Registrable Securities to be registered on the First Closing Registration Statement pursuant to this Agreement, the Company shall (i) inform the Holder and use its best efforts to file amendments to the First Closing Registration Statement as required by the SEC and/or (ii) withdraw the First Closing Registration Statement and file a new registration statement (a “First New Registration Statement”), in either case covering the maximum number of First Closing Registrable Securities permitted to be registered by the SEC, on Form S-3 or such Required other form available to register for resale the First Closing Registrable Securities as a secondary offering; provided, however, that prior to filing such amendment or First New Registration Statement, the Company shall be obligated to use its best efforts to advocate with the SEC for the registration of all of the First Closing Registrable Securities in accordance with the SEC Guidance, including without limitation, the Manual of Publicly Available Telephone Interpretations D.29. Notwithstanding any other provision of this Agreement, if any publicly-available written or oral guidance, comments, requirements or requests of the SEC staff ( the “SEC Guidance”) sets forth a limitation of the number of First Closing Registrable Securities permitted to be registered on a particular registration statement as a secondary offering (and each other notwithstanding that the Company used best efforts to advocate with the SEC for the registration of all or a greater number of First Closing Registrable Securities), the number of First Closing Registrable Securities to be registered on such registration statement will be reduced to comply with the SEC Guidance. In the event the Company amends the First Closing Registration Statement required as set forth herein, the Company will use its best efforts to file with the SEC, as promptly as allowed by SEC or SEC Guidance provided to the Company or to registrants of securities in general, one or more Registration Statements on Form S-3 or such other form available to register for resale for those First Closing Registrable Securities that were not registered for resale on the First Closing Registration Statement, as amended, or the First New Registration Statement. For the avoidance of doubt, (1) the First New Registration Statement shall be filed by the Company with the SEC no later than thirty (30) days after the SEC notifies the Company of the need to file such registration statement or the withdrawal of the First Registration Statement; and (2) the will use its best efforts to cause the First New Registration Statement to be filed pursuant to the terms of this Purchase Warrant, declared effective by the SEC as soon as practicable. The within sixty (60) days after its initial filing with the SEC b. To the extent the staff of the SEC does not permit all of the Second Closing Registrable Securities to be registered on the Second Closing Registration Statement pursuant to this Agreement, the Company shall pay (i) inform the costs Holder and expenses thereofuse its best efforts to file amendments to the Second Closing Registration Statement as required by the SEC and/or (ii) withdraw the Second Closing Registration Statement and file a new registration statement (a “Second New Registration Statement”), in either case covering the maximum number of Second Closing Registrable Securities permitted to be registered by the SEC, on Form S-3 or such other form available to register for one time onlyresale the Second Closing Registrable Securities as a secondary offering; provided, which costs and expenses however, that prior to filing such amendment or Second New Registration Statement, the Company shall include “Blue Sky” fees for counsel be obligated to use its best efforts to advocate with the SEC for the Underwriter registration of all of the Second Closing Registrable Securities in accordance with the SEC Guidance, including without limitation, the Manual of Publicly Available Telephone Interpretations D.29. Notwithstanding any other provision of this Agreement, if the SEC Guidance sets forth a limitation of the number of Second Closing Registrable Securities permitted to be registered on a particular registration statement as a secondary offering (and “Blue Sky” filing fees notwithstanding that the Company used best efforts to qualify advocate with the Purchase Warrants SEC for the registration of all or a greater number of Second Closing Registrable Securities), the number of Second Closing Registrable Securities to be registered on such registration statement will be reduced to comply with the SEC Guidance. In the event the Company amends the Second Closing Registration Statement as set forth herein, the Company will use its best efforts to file with the SEC, as promptly as allowed by SEC or SEC Guidance provided to the Company or to registrants of securities in general, one or more Registration Statements on Form S-3 or such other form available to register for resale those jurisdictions requested Second Closing Registrable Securities that were not registered for resale on the Second Closing Registration Statement, as amended, or the Second New Registration Statement. For the avoidance of doubt, (1) the Second New Registration Statement shall be filed by the HolderCompany with the SEC no later than thirty (30) days after the SEC notifies the Company of the need to file such registration statement or the withdrawal of the Second Registration Statement; and (2) the Company will use its best efforts to cause the Second New Registration Statement to be declared effective by the SEC within sixty (60) days after its initial filing with the SEC.

Mandatory Registration. Solely in the event there is not then a current registration statement concerning the resale of the Registrable Securities, the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6A) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the Holder, the Company shall give notice to the other Holders of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall use its best efforts to have prepare, and, as soon as practicable, but in no event later than the applicable Filing Deadline, file with the SEC a Registration Statement on Form S-3 covering the resale of all of the New Registrable Securities and the issuance of the Initial Warrant Shares to be acquired upon exercise of the Initial Warrants. In the event that Form S-3 is unavailable for such Required a registration, the Company shall use such other form as is available for such a registration that is reasonably acceptable to Durus. The Registration Statement prepared pursuant hereto shall register for resale 10,000,000 shares of Common Stock and all of the Initial Warrants, and shall register the issuance of 5,000,000 shares of Common Stock upon exercise of the Initial Warrants. The Registration Statement, to the extent allowable under the 1933 Act and each other the rules and regulations promulgated thereunder (including Rule 416), shall state that such Registration Statement required to be filed also covers such indeterminate number of additional shares of Common Stock as may become issuable upon conversion of or otherwise pursuant to the terms Initial Preferred Shares and exercise of this Purchase Warrantthe Initial Warrants to prevent dilution resulting from stock splits, stock dividends or similar transactions. The Company shall use its reasonable best efforts to have the Registration Statement declared effective by the SEC as soon as practicable, but in no event later than the respective Effectiveness Deadline. (B) In the event of any Subsequent Closings, the Company shall use its best efforts to prepare, and, as soon as practicable thereafter, but in no event later than the applicable Filing Deadline, file with the SEC a Registration Statement on Form S-3 covering the resale of all the Additional Registrable Securities relating to each such Subsequent Closing and the issuance of the Additional Warrant Shares to be acquired upon exercise of the Additional Warrants issued at each such Subsequent Closing. In the event that Form S-3 is unavailable for such a registration, the Company shall use such other form as is available for such a registration that is reasonably acceptable to Durus. The Registration Statement, to the extent allowable under the 1933 Act and the rules and regulations promulgated thereunder (including Rule 416), shall state that such Registration Statement also covers such indeterminate number of additional shares of Common Stock as may become issuable upon conversion of or otherwise pursuant to the Additional Preferred Shares and exercise of the Additional Warrants to prevent dilution resulting from stock splits, stock dividends or similar transactions. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees use its reasonable best efforts to qualify the Purchase Warrants in those jurisdictions requested have each such Registration Statement declared effective by the HolderSEC as soon as practicable after each such Subsequent Closing, but in no event later than the applicable Effectiveness Deadline. (C) In the event of the issuance of Note Shares, the Company shall use its best efforts to prepare, and, as soon as practicable thereafter, but in no event later than the applicable Filing Deadline, file with the SEC a Registration Statement on Form S-3 covering the resale of all of the Note Shares. In the event that Form S-3 is unavailable for such a registration, the Company shall use such other form as is available for such a registration that is reasonably acceptable to holders of a majority in interest of the Note Shares. The Registration Statement prepared pursuant hereto shall register for resale all of the Note Shares. The Company shall use its reasonable best efforts to have such Registration Statement declared effective by the SEC as soon as practicable after the issuance of the Note Shares, but in no event later than the applicable Effectiveness Deadline. (D) In the event that Durus distributes or otherwise transfers any of its Registrable Securities to its investors or members, the Company shall use its best efforts to prepare, and, as soon as practicable, file with the SEC a Registration Statement on Form S-3 covering the resale of all of such Registrable Securities by such investors or members upon the written request of Durus. In the event that Form S-3 is unavailable for such a registration, the Company shall use such other form as is available for such a registration that is reasonably acceptable to a majority of such investors or members. The Company shall not be required to effect a registration pursuant to this Section 2.1(d) if (i) the Company has previously effected two (2) registrations pursuant to this Section 2.1(d), and such registrations have been declared or ordered effective, or (ii) the Company receives such written request from Durus more than five (5) years after the date hereof.

Mandatory Registration. Solely in (a) Within thirty (30) calendar days after the event there Closing (or, if the date that is thirty (30) calendar days after the Closing is not then a current registration statement concerning business day, the resale of the Registrable Securitiesnext business day immediately following such date), the Company shall will prepare and file with the SEC a registration statement on one occasion at its sole expenseForm S-3 or any successor form (except that if the Company is not then eligible to register for resale the Registrable Securities on Form S-3, upon then such registration shall be on Form S-1 or any successor form) for the written notice purpose of registering under the Securities Act all of the Holder at any time commencing six (6) months after Registrable Securities for resale by, and for the date that this Warrant becomes exercisable and on or before account of, the fifth anniversary date of the Effective Date, a required registration statement Holders as selling stockholders thereunder (the “Required "Registration Statement”) concerning "). The Registration Statement shall permit the resale of Holders to offer and sell, on a delayed or continuous basis pursuant to Rule 415 under the Securities Act, any or all of the Registrable Securities. The Required Company agrees to use its best efforts to cause the Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 become effective as soon as such form is available, provided that reasonably practicable (which shall include using its best efforts to respond to any comments of the Company shall maintain SEC in respect of the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering the resale of all of the Registrable Securities has been declared effective by the SEC and the prospectus contained therein is available for use. Within within ten (10) business days after receiving written notice from following receipt thereof, unless the HolderSEC conducts a full review, in which case the Company shall give notice use its commercially reasonably efforts to the other Holders respond to any comments of the Purchase Warrants advising that SEC in respect of the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other Holders. The Company shall not be obligated to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company Registration Statement within five fifteen (515) business days thereafterfollowing receipt thereof). The Company shall use its best efforts to keep the Registration Statement effective until such date that is the earlier of (i) the date when all of the Registrable Securities registered thereunder shall have been sold plus one year or (ii) four (4) years after the Closing, subject to extension as set forth below (such Required date is referred to herein as the "Mandatory Registration Termination Date"). Thereafter, the Company shall be entitled to withdraw the Registration Statement and the Holders shall have no further right to offer or sell any of the Registrable Securities pursuant to the Registration Statement (or any prospectus relating thereto). In the event the right of the selling Holders to use the Registration Statement (and the prospectus relating thereto) is delayed or suspended pursuant to Sections 4(c) or 10 hereof, if the events described in clause (i) or (ii) above of this subsection (a) have not yet occurred, the Company shall be required to extend the Mandatory Registration Termination Date by the same number of days as such delay or Suspension Period (as defined in Section 10 hereof), provided that such delay is not the result of the Holders' failure or delay to furnish information required under Section 5 hereof. (b) In the event that the Registration Statement is not filed with the SEC within thirty (30) calendar days after the Closing (or, if the date that is thirty (30) calendar days after the Closing is not a business day, the next business day immediately following such date), or the Company fails to use its best efforts to respond to any comments of the SEC in respect of the Registration Statement within ten (10) business days following receipt thereof, or in the case of a full SEC review, within fifteen (15) business days following receipt thereof, the Company will issue to all Investors, for no additional consideration, one percent (1.0%) of the Shares sold to each Investor pursuant to the Securities Purchase Agreement. For every additional thirty (30) calendar days that the Company continues to be delayed from filing the Registration Statement with the SEC or continues to fail to use its best efforts to respond to any comments of the SEC in respect of the Registration Statement, and the Company will issue to all Investors, for no additional consideration, one percent (1.0%) of the Shares sold to each other Registration Statement required to be filed Investor pursuant to the terms of this Securities Purchase WarrantAgreement. (c) Within three (3) business days after a Registration Statement that covers applicable Registrable Securities is declared effective by the SEC, the Company shall deliver, or shall cause legal counsel to deliver, to the transfer agent for such Registrable Securities (with copies to the Holders whose Registrable Securities are included in such Registration Statement) confirmation that such Registration Statement has been declared effective by the SEC in such form as soon as practicable. The agreed to by counsel to the Company shall pay and counsel to the costs Holders at such time. (d) Subject to review and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel for the Underwriter and “Blue Sky” filing fees to qualify the Purchase Warrants in those jurisdictions requested comment by the HolderSEC, the Plan of Distribution set forth in the Registration Statement shall be substantially as set forth in Exhibit B attached hereto.

Mandatory Registration. Solely (a) As promptly as possible after the date hereof, and in any event prior to the date that is five (5) days following the Stockholder Approval (as such term is defined in the event there is not then a current registration statement concerning Securities Purchase Agreement) (the resale of the Registrable Securities“Mandatory Filing Date”), the Company shall prepare and file with the SEC on one occasion at its sole expense, upon the written notice of the Holder at any time commencing six (6) months after the date that this Warrant becomes exercisable and on or before the fifth anniversary date of the Effective Date, a required registration statement (the “Required Registration Statement”) concerning the resale of all of the Registrable Securities. The Required Registration Statement shall be on Form F-3 if available for such a registration and if unavailable, the Company shall register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the Holder and undertake to register the resale of the Registrable Securities on Form F-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form F-3 covering ▇-▇, ▇-▇ or other appropriate form, for the resale 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 has been declared effective by the SEC and the prospectus contained therein is available for use. Within ten (10) days after receiving written notice from the HolderAct, the Company shall give notice to the other Holders any or all of the Purchase Warrants advising that the Company is proceeding with such registration statement and offering to include therein Purchase Warrants of such other HoldersRegistrable Shares. The Company shall not be obligated agrees to any such other Holder unless such other Holder shall accept such offer by notice in writing to the Company within five (5) days thereafter. The Company shall 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 Mandatory Filing 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 date as of which all Investors may sell all the Registrable Shares without restriction pursuant to Rule 144(k) of the Securities Act (or any successor rule thereto); provided, that in either case such Required 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 each other the method of disposition of such securities as shall be required to effect the registration of such Investor’s Registrable Securities. (d) If (i) the Mandatory Registration Statement is not filed on or prior to the Mandatory Filing Date, or (ii) the Mandatory Registration Statement filed or required to be filed hereunder is not declared effective by the Commission by the Mandatory Effective Date (any such failure or breach being referred to as an “Event”, and for purposes of clause (i) or (ii) the date on which such Event occurs, referred to as “Event Date”), then on each such Event Date and on each monthly anniversary of each such Event Date (if the applicable Event shall not have been cured by such date) until the applicable Event is cured, the Company shall pay to each Investor an amount in cash, as liquidated damages and not as a penalty, equal to 1% of the aggregate purchase price paid by such Investor pursuant to the Securities Purchase Agreement for any Registrable Shares then held by such Investor assuming for such purposes that such calculation is based on a fully converted basis. The parties agree that (1) in no event will the Company be liable for liquidated damages under this Agreement in excess of 1% of the Aggregate Purchase Price of the Investors in any 30-day period and (2) the maximum aggregate liquidated damages payable to an Investor under this Agreement shall be twelve percent (12%) of the Aggregate Purchase Price paid by such Investor pursuant to the Securities Purchase Agreement. If the Company fails to pay any partial liquidated damages pursuant to this Section in full within seven days after the date payable, the Company will pay interest thereon at a rate of 18% per annum (or such lesser maximum amount that is permitted to be paid by applicable law) to the Investor, accruing daily from the date such partial liquidated damages are due until such amounts, plus all such interest thereon, are paid in full. The liquidated damages pursuant to the terms hereof shall apply on a daily pro-rata basis for any portion of a month prior to the cure of an Event. Notwithstanding anything in this Purchase Warrantagreement to the contrary, declared effective by the SEC as soon as practicable. The Company shall pay the costs and expenses thereof, for one time only, which costs and expenses shall include “Blue Sky” fees for counsel Investors’ sole remedy at law for the Underwriter failure of the Company to file a Mandatory Registration Statement and “Blue Sky” filing fees cause such Mandatory Registration Statement to qualify become effective in accordance with Section 2(a) hereof shall be the Purchase Warrants liquidated damages described in those jurisdictions requested by the Holderthis Section 2(d).