TURBOCHEF TECHNOLOGIES INC
EXHIBIT 10.1
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<DESCRIPTION>EXHIBIT 10.1
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<p  align=right><font size="2" face="Times New Roman"><b>EXHIBIT 10.1</b></font></p>


<p  align="center"><font size="2" face="Times New Roman"><b>TURBOCHEF TECHNOLOGIES, INC.</b></font></p>
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<font size="2" face="Times New Roman"><b>STOCKHOLDERS&#146; AGREEMENT</b></font></p>
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<font size="2" face="Times New Roman"><b>OCTOBER 28, 2003</b></font></p>
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<font size="2" face="Times New Roman"><b>TURBOCHEF TECHNOLOGIES, INC.</b></font></p>
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<font size="2" face="Times New Roman"><b>STOCKHOLDERS&#146; AGREEMENT</b></font></p>
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<font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>THIS STOCKHOLDERS&#146; AGREEMENT</b> (this &#147;<u>Agreement</u>&#148;),is entered into as of this 28 day of October, 2003, by and among TURBOCHEF TECHNOLOGIES, INC., a Delaware corporation (the &#147;<u>Company</u>&#148;), OVENWORKS, LLLP, a Georgia limited liability limited partnership (together with certain investors for which it acts as nominee, the &#147;<u>Purchaser</u>&#148;), JEFFREY B. BOGATIN, an individual resident of the State of New York (&#147;<u>Bogatin</u>&#148;), and DONALD J. GOGEL, an individual resident of the State of New York (&#147;<u>Gogel</u>,&#148; and together with Bogatin, the &#147;<u>Stockholders</u>&#148;).</font></p>
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<font size="2" face="Times New Roman"><b>RECITALS:</b></font></p>
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<font size="2" face="Times New Roman"><b>A.</b></font></p>  </td>
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<font size="2" face="Times New Roman">The Company   and Purchaser have entered into a Stock Purchase Agreement, dated as of even   date herewith (the &#147;<u>Purchase Agreement</u>&#148;), pursuant to which the   Company has agreed to sell and issue, and Purchaser has agreed to purchase,   up to 2,500,000 shares of the Company&#146;s Series D Preferred Stock, par value   $1.00 per share (the &#147;<u>Series D Stock</u>&#148;).</font></p>  </td>
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<font size="2" face="Times New Roman"><b>B.</b></font></p>  </td>
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<font size="2" face="Times New Roman">A condition   to Purchaser&#146;s obligations under the Purchase Agreement is that the Company,   Purchaser and the Stockholders enter into this Agreement in order to:</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="2" face="Times New Roman">(1)</font></p>  </td>
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<font size="2" face="Times New Roman">provide for   rights of first refusal and other restrictions on sale pertaining to certain   of the shares of Common Stock owned by the Stockholders;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="2" face="Times New Roman">(2)</font></p>  </td>
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<font size="2" face="Times New Roman">provide for   demand registration rights and piggy-back registration rights pertaining to   the shares of Series D Stock (and the shares of Common Stock into which such   shares of Series D Stock may be converted), and piggy-back registration   rights pertaining to the shares of Common Stock owned by Bogatin; and</font></p>  </td>
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<font size="2" face="Times New Roman">(3)</font></p>  </td>
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<font size="2" face="Times New Roman">address   certain matters relating to the governance of the Company.</font></p>  </td>
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<font size="2" face="Times New Roman"><b>C.</b></font></p>  </td>
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<font size="2" face="Times New Roman">The Company   and the Stockholders each desire to induce Purchaser to purchase the Series D   Stock pursuant to the Purchase Agreement by agreeing to the terms and   conditions set forth herein.</font></p>  </td>
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<font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>NOW, THEREFORE,</b> in consideration of the mutual covenants and agreements set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound, hereby agree as follows:</font></p>
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<font size="2" face="Times New Roman"><b>ARTICLE I</b></font></p>
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<font size="2" face="Times New Roman"><b>CERTAIN DEFINED TERMS</b></font></p>
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<font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As used in this Agreement, the following terms shall have the following respective meanings:</font></p>
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<font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<u>Affiliate</u>&#148; means, with respect to a specified Person, a Person that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, the Person specified.</font></p>
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<font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<u>Bogatin Holders</u>&#148; means Bogatin and any other Person to whom Shares have been transferred pursuant to and in compliance with the provisions of <u>Section 2.3(b)(i)</u> and <u>Article V</u> hereof.</font></p>

<p><font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<u>Common Stock</u>&#148; means the Company&#146;s common stock, par value $.01 per share.</font></p>
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<font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<u>Conversion Shares</u>&#148; means, as of any particular date, (a) the shares of Common Stock held by Series D Holders as a result of the conversion of any of the shares of Series D Stock pursuant to the Company&#146;s Certificate of Incorporation, as amended, and any additional shares of Common Stock issued by virtue of such shares pursuant to any stock split, stock dividend, recapitalization or similar event, and (b) all shares of Common Stock issuable, but not actually issued, upon conversion of the then-outstanding shares of Series D Stock and upon conversion of any additional shares of Series D Stock issued by virtue of such shares pursuant to any stock split, stock dividend, recapitalization or similar event.</font></p>
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<font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<u>Exchange Act</u>&#148; means the Securities Exchange Act of 1934, as amended.</font></p>
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<font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<u>Gross-Up Shares</u>&#148; means, with respect to either Stockholder, a number of shares equal to forty percent (40%) of the total number of Shares issued to such Stockholder pursuant to the terms of (a) that certain Confidentiality and Non-Competition Agreement, dated as of even date herewith, between the Company and the Stockholder, and (b) that certain Resignation and Release, dated as of even date herewith, between the Company and the Stockholder.</font></p>
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<font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<u>Permitted Transferee</u>&#148; means, with respect to either Stockholder, (a) such Stockholder&#146;s spouse, ancestors, lineal descendants, adopted children, any spouse of any such lineal descendant or adopted child, and any trust created and existing solely for the benefit of any such person or persons, and (b) upon the death of such Stockholder, such Stockholder&#146;s estate, administrator, executor, heirs, and devisees.</font></p>
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<font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<u>Person</u>&#148; means an individual, sole proprietorship, partnership, corporation, association, institution, joint stock company, limited liability company, trust, joint venture, unincorporated organization or any other legal entity.</font></p>

<p><font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<u>Registrable Securities</u>&#148; means, as of any particular date, (a) the shares of Common Stock held by Series D Holders as a result of the conversion of any of the shares of Series D Stock pursuant to the Company&#146;s Certificate of Incorporation, as amended, and any additional shares of Common Stock issued by virtue of such shares pursuant to any stock split, stock dividend, recapitalization or similar event (b) all shares of Series D Stock held by Series D Holders, and (c) all additional shares of Series D Stock or Common Stock held by Series D Holders as a result of any stock split, stock dividend, recapitalization or similar event.</font></p>
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<font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<u>Registration Expenses</u>&#148; means all expenses incurred by the Company in complying with <u>Section 3.1</u>, <u>Section 3.2</u> and <u>Section 3.3</u> hereof, including, without limitation, all registration and filing fees; printing expenses; fees and disbursements of counsel for the Company; reasonable fees and expenses of a single counsel for the selling stockholders; state &#147;blue sky&#148; fees and expenses; and accountants&#146; expenses, including without limitation any special audits incident to or required by any such registration; but excluding the compensation of regular employees of the Company, which shall be paid in any event by the Company, and excluding also any additional disbursements of counsel for the Series D Holders or Bogatin Holders, which shall be paid by the Series D Holders and Bogatin Holders.</font></p>
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<font size="2" face="Times New Roman">3</font></p>
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<font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<u>SEC</u>&#148; means the Securities and Exchange Commission, or any successor organization.</font></p>
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<font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<u>Securities</u>&#148; means all shares of capital stock of the Company, including, but not limited to, the Common Stock, any series of the Company&#146;s Preferred Stock, par value $1.00 per share, and any right, option, warrant or other agreement for the purchase or acquisition from the Company of, or otherwise convertible into, any shares of its capital stock.</font></p>

<p><font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<u>Securities Act</u>&#148; means the Securities Act of 1933, as amended.</font></p>
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<font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<u>Selling Expenses</u>&#148; means all underwriting discounts, selling commissions and transfer taxes applicable to the sale of Registrable Securities, Conversion Shares or Shares being sold by the Series D Holders or Bogatin Holders.</font></p>
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<font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<u>Series D Holders</u>&#148; means the Purchaser and any other Person holding Registrable Securities or Conversion Shares to whom registration rights have been transferred pursuant to <u>Section 3.9</u> hereof.</font></p>
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<font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<u>Shares</u>&#148; means all Securities now owned or being acquired in connection with the transactions contemplated by the Purchase Agreement by either Stockholder.</font></p>
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<font size="2" face="Times New Roman"><b>ARTICLE II</b></font></p>
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<font size="2" face="Times New Roman"><b>RESTRICTIONS ON TRANSFER</b></font></p>
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<font size="2" face="Times New Roman"><b>2.1</b></font></p>  </td>
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<font size="2" face="Times New Roman"><b>Lock-Up.</b></font></p>  </td>
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<font size="2" face="Times New Roman">(a)</font></p>  </td>
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<font size="2" face="Times New Roman">Except as   permitted under <u>Section 2.3</u>, for a period beginning on the date hereof   and ending eighteen (18) months from the date hereof (such period of time   being referred to as the &#147;<u>Lock-Up Period</u>&#148;), without the prior written   consent of the Company and Purchaser, which may be withheld in their absolute   respective discretion, no Stockholder may sell, offer or agree to sell, grant   any option for the sale of, pledge, make any short sale or maintain any short   position, establish or maintain a &#147;put equivalent position&#148; (within the   meaning of Rule 16-a-1(h) under the Exchange Act), enter into any swap,   derivative transaction or other arrangement that transfers to another, in   whole or in part, any of the economic consequences of ownership of his   respective Shares, or otherwise dispose of any Shares (any such action, a &#147;<u>Transfer</u>&#148;).</font></p>  </td>
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<font size="2" face="Times New Roman">(b)</font></p>  </td>
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<font size="2" face="Times New Roman">In   connection with the restrictions set forth in <u>Section 2.1(a)</u>, each   Stockholder hereby authorizes the Company and its transfer agent, if any, to   decline to transfer and/or to note stop transfer restrictions on the transfer   books and records of the Company during the Lock-Up Period with respect to   the Shares that are subject to <u>Section 2.1(a)</u> for which such   Stockholder is the record holder and, in the case of any such Shares for   which the Stockholder is the beneficial but not the record holder, agrees to   cause the record holder to authorize the Company and its transfer agent, if   any, to decline to transfer and/or to note stop transfer restrictions on such   books and records with respect to such Shares.</font></p>  </td>
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<font size="2" face="Times New Roman">4</font></p>
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<font size="2" face="Times New Roman"><b>2.2</b></font></p>  </td>
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<font size="2" face="Times New Roman"><b>Right of First Refusal.</b></font></p>  </td>
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<font size="2" face="Times New Roman">(a)</font></p>  </td>
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<font size="2" face="Times New Roman">Following   the expiration of the Lock-Up Period, until such time as the outstanding   shares of Series D Stock and the shares of Common Stock outstanding as a   result of the conversion of Series D Stock represent, on a fully-diluted, as   converted basis, less than twenty five percent (25%) of the outstanding   capital stock of the Company, if a Stockholder proposes to sell, pledge, or otherwise   transfer any of his Shares to any Person, other than pursuant to the   provisions of <u>Section 2.3</u>, then he shall first give simultaneous   written notice to the Company and Purchaser (such written notice being   referred to as the &#147;<u>Transfer Notice</u>&#148;) that (i) sets forth the number   of Shares he proposes to sell (the &#147;<u>Offered   Shares</u>&#148;), (ii) sets forth the name and address of the proposed   purchaser (the &#147;<u>Proposed Purchaser</u>&#148;)),   (iii) sets forth the price and other terms of the proposed sale, and (iv)
includes a copy of the bona fide written offer received by such Stockholder   from the Proposed Purchaser.</font></p>  </td>
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<font size="2" face="Times New Roman">(b)</font></p>  </td>
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<font size="2" face="Times New Roman">The Transfer   Notice shall constitute an offer (the &#147;<u>Offer</u>&#148;)   by the Stockholder to sell the Offered Shares (i) first, to the Company, and   (ii) if the Company does not elect to purchase all the Offered Shares, then   to the Purchaser, in each case, at the price and on the terms offered to the   Stockholder by the Proposed Purchaser.&#160;   If the proposed sale is for other than cash, then the price per share   shall be deemed to be the fair market value per share, as determined by the   Company&#146;s Board of Directors, of the consideration offered by the Proposed   Purchaser.</font></p>  </td>
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<font size="2" face="Times New Roman">(c)</font></p>  </td>
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<font size="2" face="Times New Roman">The Company   and the Purchaser shall have twenty (20) days from the date they receive the   Offer in which to agree to purchase all of the Offered Shares by so notifying   the Stockholder, and each other, in writing.&#160;   In accordance with the provisions of <u>Section&nbsp;2.2(b)</u>, if,   pursuant to its written notice to the Stockholder, the Company does not elect   to purchase all of the Offered Shares, then Purchaser may, pursuant to its   written notice to the Stockholder, elect to purchase such Offered Shares.</font></p>  </td>
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<font size="2" face="Times New Roman">(d)</font></p>  </td>
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<font size="2" face="Times New Roman">If the Offer   is accepted with respect to all the Offered Shares in accordance with <u>Section 2.2(c)</u>, the closing of   the purchase and sale of the Offered Shares shall be held at the principal   office of the Company on the date and at the time set forth in the written   notice given by the Company to the Stockholder and Purchaser, if the Company   elects to purchase the Offered Shares, or the written notice given by the   Purchaser to the Stockholder and the Company, if the Purchaser elects to   purchase the Offered Shares.&#160; The   Company or the Purchaser, as applicable, shall deliver to the Stockholder at   the closing the full purchase price payable for the Offered Shares by means   of a cashier&#146;s check, certified check, or wire transfer and documents   containing such acknowledgments, representations, and agreements that counsel   for the Company may reasonably require in order for the transfer to comply   with applicable federal and state
securities laws.&#160; The Stockholder shall deliver to the purchasers certificates   representing the Offered Shares, if any, duly endorsed in blank for transfer   or with duly executed blank stock powers attached, together with such other   documents as may be necessary or appropriate, in the reasonable opinion of   counsel for the purchasers, to effectuate the transfer to the Company or   Purchaser, as applicable.</font></p>  </td>
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<font size="2" face="Times New Roman">(e)</font></p>  </td>
  <td  colspan="2" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">If the Offer   is not accepted by the Company or Purchaser within twenty (20) days of the   date that the Transfer Notice is delivered to the Company and Purchaser   pursuant to <u>Section 2.2(a)</u>, the Stockholder shall be free to sell all,   but not less than all, of the Offered Shares, <u>provided</u>, <u>however</u>,   that (i) such sale by the Stockholder must be made to the Proposed Purchaser   in strict compliance with the terms of the proposed disposition described in   the Transfer Notice, (ii) such sale must be consummated within ninety (90)   days after the date that the Transfer Notice is delivered to the Company and   Purchaser pursuant to <u>Section 2.2(a)</u>, and (iii) such sale shall comply   with all applicable federal and state securities laws.&#160; If the Offered Shares are not so sold to   the Proposed Purchaser prior to the expiration of such ninety (90) day   period, the Offered Shares shall again be subject to the provisions of this
Agreement as though the Offer had not previously been made.</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="2" face="Times New Roman"><b>2.3</b></font></p>  </td>
  <td  colspan="3"  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="2" face="Times New Roman"><b>Permitted Transfers.</b></font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="2" face="Times New Roman">(a)</font></p>  </td>
  <td  colspan="2" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">The   provisions of <u>Section 2.1</u> and <u>Section 2.2</u> shall not apply to   the Gross-Up Shares, or to any sale of Shares to the public pursuant to a   registration statement filed with, and declared effective by the SEC under   the Securities Act.</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="2" valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="2" face="Times New Roman">(b)</font></p>  </td>
  <td  colspan="2" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">Notwithstanding   the restrictions set forth in <u>Section 2.1</u> or <u>Section 2.2</u>:</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="2" valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td width="5%" valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td width="5%" valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td width="5%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">(i)</font></p>  </td>
  <td width="85%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">either   Stockholder shall be permitted to transfer Shares to a Permitted Transferee   in accordance with <u>Article V</u>;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">(ii)</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">Bogatin   shall be permitted to sell, on a monthly basis, a number of Shares not to   exceed fifteen percent (15%) of the average daily reported volume of trading   in the Company&#146;s Common Stock on all national securities exchanges and/or   reported through the automated quotation system of a registered securities   association during the prior month.&#160;   Any transfers of Shares received by Persons from Bogatin or his   Affiliates shall be aggregated for the purposes of calculating the transfer   limitations pursuant to this <u>Section 2.3(b)(ii)</u>; and</font></p>  </td>
 </tr>
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  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">(iii)</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">Gogel shall   be permitted to sell, on a monthly basis, a number of Shares not to exceed   five percent (5%) of the average daily reported volume of trading in the   Company&#146;s Common Stock on all national securities exchanges and/or reported   through the automated quotation system of a registered securities association   during the prior month.&#160; Any transfers   of Shares received by Persons from Gogel or his Affiliates shall be   aggregated for the purposes of calculating the transfer limitations pursuant   to this <u>Section 2.3(b)(iii)</u>.</font></p>  </td>
 </tr>
</table>

<p  align="center">
<font size="2" face="Times New Roman">6</font></p>

<p><HR noShade>
<p>
<H5 style="PAGE-BREAK-BEFORE: always" align=left></H5>
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 <tr>
  <td width="5%" valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td width="5%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">(c)</font></p>  </td>
  <td width="90%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">The   provisions of <u>Section 2.2</u> shall not apply to any transfer or sale   effected on any national securities exchange or through any automated   quotation system on or pursuant to which the Common Stock is listed or   otherwise traded at the time of such transfer or sale.</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>2.4</b></font></p>  </td>
  <td  colspan="2" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>Securities Law Compliance; Reporting   Obligations.</b>&#160;   Each Stockholder covenants to comply with (a) all applicable   restrictions on transfer set forth in the Exchange Act, the Securities Act,   and all rules promulgated thereunder, including but not limited to Rule 144   promulgated under the Securities Act, and (b) the applicable reporting   obligations under Section 13 of the Exchange Act and the rules promulgated   thereunder.&#160; In addition, each Stockholder   covenants that he will deliver to the Company a copy of all beneficial   ownership reports that are required to be filed pursuant to Section 13 of the   Exchange Act and the rules promulgated thereunder in accordance with the   notice provisions herein, within three (3) business days of the date of the   filing of such report with the SEC.</font></p>  </td>
 </tr>
</table>

<BR>

<p  align="center"><font size="2" face="Times New Roman"><b>ARTICLE III</b></font></p>
<p  align="center">
<font size="2" face="Times New Roman"><b>REGISTRATION RIGHTS</b></font></p>
<table align="center"  border="0" style="border-collapse:collapse" cellspacing="0"  cellpadding="0"  width="100%">

 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="2" face="Times New Roman"><b>3.1</b></font></p>  </td>
  <td  colspan="3"  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="2" face="Times New Roman"><b>Demand Registration Rights.</b></font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="2" face="Times New Roman">(a)</font></p>  </td>
  <td  colspan="2" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">Subject to   the conditions of <u>Section 3.1(b)</u> below, from and after the date   hereof, the Series D Holders may make two (2) demands on the Company to   register all or a portion of the Registrable Securities on Form S-1 or such   other form that may be available to the Company (each such registration being   referred to as a &#147;<u>Demand Registration</u>&#148;).</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="2" valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="2" face="Times New Roman">(b)</font></p>  </td>
  <td  colspan="2" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">If the   Company receives from Series D Holders representing at least twenty percent   (20%) of the Registrable Securities, a written request that the Company   effect a Demand Registration with respect to all or a part of the Registrable   Securities, the Company shall:</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="2" valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td width="5%" valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td width="5%" valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td width="5%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">(i)</font></p>  </td>
  <td width="85%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">promptly   give written notice of the proposed registration to all other Series D   Holders; and</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">(ii)</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">as soon as   practicable, use its best efforts to effect such registration (including,   without limitation, the execution of an undertaking to file post-effective   amendments, appropriate qualification under applicable blue sky or other   state securities laws, and appropriate compliance with applicable regulations   issued under the Securities Act) as may be so requested and as would permit   or facilitate the sale and distribution of such portion of such Registrable   Securities as is specified in such request, together with such portion of the   Registrable Securities of all other Series D Holders joining in such request   as is specified in a written request given within twenty (20) days after   receipt of such written notice from the Company; <u>provided</u>, <u>however</u>, that if the Company shall furnish   to each such Series D Holder a certificate signed by the President of the   Company 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   stockholders for such registration statement to be filed and it is therefore   essential to defer the filing of such registration statement, the Company   shall have the right, exercisable not more than once during any twelve (12)   month period, to defer such filing ninety (90) days after receipt of the   initial request of such Series D Holders.</font></p>  </td>
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</table>

<p  align="center"><font size="2" face="Times New Roman">7</font></p>
<p><HR noShade>
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<H5 style="PAGE-BREAK-BEFORE: always" align=left></H5>
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  <td width="5%" valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td width="5%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">(c)</font></p>  </td>
  <td width="90%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">If the   Series D Holders intend to distribute the Registrable Securities covered by   their request by means of an underwriting, they shall so advise the Company   as a part of their request made pursuant to <u>Section 3.1(b)</u>, and the   Company shall include such information in the written notice referred to in <u>Section   3.1(b)(i)</u> hereof.&#160; The right of   any Series D Holder to registration pursuant to this <u>Section&nbsp;3.1</u>   shall be conditioned upon such Series D Holder&#146;s participation in such   underwriting and the inclusion of such Series D Holder&#146;s Registrable   Securities in the underwriting to the extent provided herein.&#160; The Company shall (together with each such   participating Series D Holder) enter into an underwriting agreement in   customary form and containing customary terms reasonably acceptable to the   participating Series D Holders, with the representative of the underwriter or   underwriters selected for
such underwriting by the Company and reasonably   acceptable to the participating Series D Holders; <u>provided</u>, <u>however</u>,   that if the Company has not selected an underwriter reasonably acceptable to   the participating Series D Holders within thirty (30) days after the   Company&#146;s receipt of the request for registration from such Series D Holders,   then such participating Series D Holders may select an underwriter reasonably   acceptable to the Company in connection with such registration.&#160; Notwithstanding any other provision of   this <u>Section 3.1</u>, if the underwriter representative advises such   Series D Holders in writing that marketing factors require a limitation of   the number of Registrable Securities to be underwritten, such number of   Registrable Securities shall be excluded from such registration, pro rata, to   the extent so required by such limitation.&#160;   If any participating Series D Holder disapproves of the terms of the   underwriting, he, she or it
may elect to withdraw therefrom by written notice   to the Company, the underwriter and the other participating Series D   Holders.&#160; The Securities so withdrawn   shall also be withdrawn from registration.</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="2" valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>3.2</b></font></p>  </td>
  <td  colspan="2" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>Company Registration.</b></font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="2" valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">(a)</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">If the   Company shall determine to register any of its securities in connection with   the public offering of such securities solely for cash on a form that would   permit the registration of the Conversion Shares or the Shares held by the   Bogatin Holders or the Company files a Demand Registration pursuant to <u>Section   3.1</u> or registration statement on Form S-3 pursuant to <u>Section 3.3</u>,   the Company shall promptly give to each Series D Holder and Bogatin Holder   written notice of such proposed registration (each such registration being   referred to herein as a &#147;<u>Piggyback Registration</u>&#148;), which shall   include a list of the jurisdictions in which the Company intends to attempt   to qualify such securities under the applicable blue sky or other state   securities laws.&#160; The Company shall   include in such registration (and any related qualification under blue sky   laws or other compliance), and in any underwriting involved
therein:</font></p>  </td>
 </tr>
</table>

<p  align="center">
<font size="2" face="Times New Roman">8</font></p>
<p><HR noShade>
<p>
<H5 style="PAGE-BREAK-BEFORE: always" align=left></H5>
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 <tr>
  <td width="5%" valign="top">
  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td width="5%" valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td width="5%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">(i)</font></p>  </td>
  <td width="85%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">all the   Conversion Shares specified in a written request, or requests, made by the   Series D Holders within twenty (20) days after receipt of such written notice   from the Company, subject to the underwriter limitations, if any, described   in <u>Section 3.2(d)</u> hereof; <u>provided</u>, <u>however</u>, that, in   the case of a Piggyback Registration, the number of Conversion Shares that   any Series D Holder may include in any such registration shall not exceed the   product of (A) the total number of Conversion Shares then held by such Series   D Holder multiplied by (B) a fraction, the numerator of which is the total number   of Conversion Shares then held by the Series D Holder and the denominator of   which is (x) the total number of Shares then held by the Bogatin Holders plus   (y) the total number of Conversion Shares then held by all Series D Holders;   and <u>provided</u>, <u>further</u>, that no Conversion Shares shall be   included in any
registration under this Agreement unless such Conversion   Shares shall have been first converted to Common Stock, if necessary; and</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">(ii)</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">all the   Shares specified in a written request, or requests, made by the Bogatin   Holders within twenty (20) days after receipt of such written notice from the   Company, subject to the underwriter limitations, if any, described in <u>Section   3.2(d)</u> hereof; <u>provided</u>, <u>however</u>, (A) in the case of a   Piggyback Registration, that the number of Shares that any Bogatin Holder may   include in any such registration shall not exceed the product of (X) the   total number of Shares then held by such Bogatin Holder multiplied by (Y) a   fraction, the numerator of which is the total number of Shares then held by   such Bogatin Holder and the denominator of which is (I) the total number of   Shares then held by all Bogatin Holders plus (II) the total number of   Conversion Shares then held by all Series D Holder and (B) in the case of a   Demand Registration or a registration statement filed on Form S-3 in   accordance with <u>Section 3.3</u> after all
Conversion Shares required to be   included under <u>Section 3.1</u> or <u>Section 3.3</u> are included, the   number of Shares that any Bogatin Holder may include in any registration   shall not exceed (x) the total number of Shares then held by such Bogatin   Holder multiplied by (y) a fraction, the number of which is the total number   of Shares held by such Bogatin Holder and the denominator of which is the   total number of Shares held by all Bogatin Holders plus the total number of   shares of Common Stock requested to be included by all other selling   securityholders (other than Series D Holders) which have the right to be   included in such registration statement; and <u>provided</u>, <u>further</u>,   that no Shares shall be included in any registration under this Agreement   unless such Shares shall have been first exercised for, or otherwise   converted to, Common Stock, if necessary.</font></p>  </td>
 </tr>
</table>

<p  align="center"><font size="2" face="Times New Roman">9</font></p>
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<H5 style="PAGE-BREAK-BEFORE: always" align=left></H5>
<table align="center"  border="0" style="border-collapse:collapse" cellspacing="0"  cellpadding="0"  width="100%">

 <tr>
  <td width="5%" valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td width="5%" valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td width="90%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">The Company   shall have the right to withdraw or cease to prepare or file any registration   statement for any offering referred to in this <u>Section 3.2</u> without any   obligation or liability to the Series D Holders or the Bogatin Holders.</font></p>  </td>
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 <tr>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">(b)</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">Subject to   the underwriter limitations, if any, described in <u>Section 3.2(d)</u>   below, the Series D Holders and the Bogatin Holders shall be entitled to have   their respective Conversion Shares and Shares included in an unlimited number   of Piggyback Registrations pursuant to this <u>Section 3.2</u>.</font></p>  </td>
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 <tr>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">(c)</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">If the   Company has previously filed a registration statement with respect to   Registrable Securities pursuant to <u>Section 3.1</u>, or pursuant to this <u>Section   3.2</u>, and if such previous registration has not been withdrawn or   abandoned, the Company will not file or cause to be effected any other   registration of any of its equity securities or securities convertible or   exchangeable into or exercisable for its equity securities under the   Securities Act (except on Form S-4, Form S-8 or any respective successor   forms) until a period of one hundred eighty (180) days has elapsed from the   effective date of such a previous registration.</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">(d)</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">If the   registration of which the Company gives notice is for a registered public   offering involving an underwriting, the Company shall so advise the Series D   Holders and Bogatin Holders as a part of the written notice given pursuant to   <u>Section 3.2(a)</u> hereof.&#160; In such   event the respective rights of the Series D Holders and Bogatin Holders to   registration pursuant to <u>Section 3.2(a)</u> shall be conditioned upon   their participation in such underwriting and the inclusion of their   Conversion Shares or Shares, as applicable, in the underwriting to the extent   provided herein.&#160; If any Series D   Holder or Bogatin Holder proposes to distribute his, her or its Conversion   Shares or Shares, respectively, through such underwriting (together with the   Company) he, she or it shall enter into an underwriting agreement in   customary form with the underwriter or underwriters selected for underwriting   by the Company.&#160; Notwithstanding
any   other provision of this <u>Section 3.2</u>, if the underwriter reasonably   determines that marketing factors require a limitation on the number of   shares to be underwritten, the number of shares that may be included in the   registration shall be allocated among the Series D Holders and Bogatin   Holders, as nearly as practicable, to the respective amounts of Conversion   Shares and Shares that each Series D Holder and Bogatin Holder had requested   to be included, and which were otherwise includable, in such registration.&#160; The Company shall advise the Series D   Holders and Bogatin Holders as to the number of Conversion Shares and Shares   that may be included in the registration and underwriting as allocated in the   foregoing manner.&#160; No such reduction   shall be made with respect to securities offered by the Company for its own   account.&#160; If any Series D Holder or   Bogatin Holder disapproves of the terms of any such underwriting, he, she or   it may elect to withdraw
therefrom by written notice to the Company and the   underwriter.&#160; Any Conversion Shares or   Shares so excluded or withdrawn from such underwriting shall also be   withdrawn from such registration.</font></p>  </td>
 </tr>
</table>

<p  align="center"><font size="2" face="Times New Roman">10</font></p>
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<H5 style="PAGE-BREAK-BEFORE: always" align=left></H5>
<table align="center"  border="0" style="border-collapse:collapse" cellspacing="0"  cellpadding="0"  width="100%">

 <tr>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>3.3</b></font></p>  </td>
  <td  colspan="2" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>Form S-3 Registration.</b>&#160; If, at a time when Form S-3 (or any   comparable successor form) is available for the registration of Registrable   Securities and the Company is eligible to use Form S-3 (or such successor   form) for such registration, the Company shall receive from the Series D   Holders a written request that the Company effect a registration on Form S-3   (or such successor form) of any of the Registrable Securities, the Company   will promptly give written notice of the proposed registration to all other   Series D Holders and, as soon as practicable, effect such registration and   all such related qualifications and compliances as may be reasonably   requested and as would permit or facilitate the sale and distribution of all   Registered Securities as are specified in such request and any written   requests of other Series D Holders given within twenty (20) days after   receipt of such notice..&#160; The rights   of the Purchaser to
request registration under this <u>Section 3.3</u> shall   be in addition to all other registration rights in this Agreement.</font></p>  </td>
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 <tr>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="2" valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>3.4</b></font></p>  </td>
  <td  colspan="2" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>Expenses of Registration.</b>&#160; All Registration Expenses incurred in   connection with any registration, qualification or compliance pursuant to <u>Section   3.1</u>, <u>Section 3.2</u> or <u>Section&nbsp;3.3</u> of this Agreement   shall be borne by the Company; and each participating Series D Holder and   Bogatin Holder shall bear his, her or its respective Selling Expenses; <u>provided</u>, <u>however</u>, that if any jurisdiction in which such   securities shall be qualified shall require that expenses incurred in   connection with the qualification of the securities in that jurisdiction be   borne by the Series D Holders or Bogatin Holders, then each participating   Series D Holder and Bogatin Holder shall bear his, her or its respective   portion of such expenses.</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="2" valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>3.5</b></font></p>  </td>
  <td  colspan="2" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>Registration Procedures.</b>&#160; In the case of each registration effected   by the Company pursuant to this Agreement, the Company shall keep the Series   D Holders, to the extent that any Registrable Securities or Conversion Shares   are included in such registration, and the Bogatin Holders, to the extent   that any Shares are included in such registration, advised in writing as to   the initiation of each registration and as to the completion thereof.&#160; At its expense the Company shall use its   best efforts to:</font></p>  </td>
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  <td width="5%" valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td width="5%" valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td width="90%" valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">(a)</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">keep such   registration effective for a period of one hundred eighty (180) days or until   the participating Series D Holders and Bogatin Holders, as applicable, have   completed the distribution described in the registration statement relating   thereto, whichever first occurs; and</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">(b)</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">furnish such   number of prospectuses and other documents incident thereto as the   participating Series D Holders or Bogatin Holders, as applicable, from time   to time may reasonably request.</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>3.6</b></font></p>  </td>
  <td  colspan="2" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>Indemnification.</b></font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">(a)</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">With respect   to the Series D Holders and Bogatin Holders, if any of their respective   Registrable Securities, Conversion Shares or Shares have been registered or   qualified pursuant to this Agreement, the Company shall indemnify the Series   D Holders and Bogatin Holders, and each of the officers, directors and   partners of each Series D Holder and each Bogatin Holder, each Person   controlling (as defined in <u>Section 3.6(e)</u> below) each Series D Holder   and each Bogatin Holder, each of such controlling person&#146;s officers,   directors and partners, and shall also indemnify each underwriter, if any,   and each Person who controls any underwriter, against all claims, losses,   damages and liabilities (or actions in respect thereof) arising out of or   based on any untrue statement (or alleged untrue statement) of a material   fact contained in any prospectus, offering circular or other document   (including any related registration statement,
notification or the like)   incident to any such registration, qualification or compliance, or based on   any omission (or alleged omission) to state therein a material fact required   to be stated therein or necessary to make the statements therein not   misleading in light of the circumstances under which such statements were   made, or any violation by the Company of any rule or regulation promulgated   under the Securities Act applicable to the Company and relating to action or   inaction required of the Company in connection with any such registration,   qualification or compliance, and shall reimburse the Series D Holders and   Bogatin Holders, and each of the officers, directors and partners of each   Series D Holder and each Bogatin Holder, each Person controlling (as defined   in <u>Section 3.6(e)</u> below) each Series D Holder and each Bogatin Holder,   each of such controlling person&#146;s officers, directors and partners, each such   underwriter, and each Person who controls such
underwriter, for any legal and   other expenses reasonably incurred in connection with investigating or   defending any such claim, loss, damage, liability or action; <u>provided</u>, <u>however</u>, that the Company shall not be liable in any   such case to the extent that any such claim, loss, damage, liability or   expense arises out of or is based upon written information furnished to the   Company in an instrument duly executed by a Series D Holder, a Bogatin   Holder, the underwriter or any such other party seeking to be indemnified,   where such information was provided specifically for use in such prospectus,   offering circular or related document.</font></p>  </td>
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</table>

<p  align="center"><font size="2" face="Times New Roman">11</font></p>
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<H5 style="PAGE-BREAK-BEFORE: always" align=left></H5>
<table align="center"  border="0" style="border-collapse:collapse" cellspacing="0"  cellpadding="0"  width="100%">

 <tr>
  <td width="5%" valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td width="5%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">(b)</font></p>  </td>
  <td width="90%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">Each   participating Series D Holder and Bogatin Holder shall, if securities held by   him, her or it are included among the securities as to which a registration,   qualification or compliance is being effected, severally and not jointly,   indemnify the Company, each of its directors and officers, each underwriter,   if any, of the Company&#146;s securities covered by such a registration statement,   each Person who controls (as defined in <u>Section 3.6(e)</u> below) the   Company, such underwriter, the Purchaser, and each of such controlling   person&#146;s officers, directors and partners, against all claims, losses,   damages and liabilities (or actions in respect thereof) arising out of or   based on any untrue statement (or alleged untrue statement) of a material   fact contained in any such registration statement, prospectus, offering   circular or other document, or any omission (or alleged omission) to state   therein a material fact required to be
stated therein or necessary to make   the statements therein not misleading in light of the circumstances under   which such statements were made, and shall reimburse the Company, its directors,   officers, partners, underwriters and control persons for any legal or any   other expenses reasonably incurred in connection with investigating or   defending any such claim, loss, damage, liability or action, in each case to   the extent, but only to the extent, that such untrue statement (or alleged   untrue statement) or omission (or alleged omission) is made in such   registration statement, prospectus, offering circular or other document in   reliance upon and in conformity with written information furnished to the   Company by any such Series D Holder or Bogatin Holder specifically for use   therein; <u>provided</u>, <u>however</u>,   that the respective obligations of any such Series D Holder or Bogatin   Holder hereunder shall be limited to an amount equal to the respective net proceeds   to such
Series D Holder or Bogatin Holder of securities sold as contemplated   herein.</font></p>  </td>
 </tr>
</table>

<p  align="center"><font size="2" face="Times New Roman">12</font></p>
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<H5 style="PAGE-BREAK-BEFORE: always" align=left></H5>
<table align="center"  border="0" style="border-collapse:collapse" cellspacing="0"  cellpadding="0"  width="100%">

 <tr>
  <td width="5%" valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td width="5%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">(c)</font></p>  </td>
  <td width="90%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">Each party   entitled to indemnification under this <u>Section 3.6</u> (the &#147;<u>Indemnified   Party</u>&#148;) shall give notice to the party required to provide   indemnification (the &#147;<u>Indemnifying Party</u>&#148;) promptly after such Indemnified Party   has actual knowledge of any claim as to which indemnity may be sought and   shall permit the Indemnifying Party to assume the defense of any such claim   or any litigation resulting therefrom, provided that counsel for the   Indemnifying Party, who shall conduct the defense of such claim or any   litigation resulting therefrom, shall be approved by the Indemnified Party   (whose approval shall not be withheld unreasonably), and the Indemnified   Party may participate in such defense at such Indemnified Party&#146;s   expense.&#160; The failure of any   Indemnified Party to give notice as provided herein shall relieve the   Indemnifying Party of its obligations under this <u>Section 3.6</u> only if
such failure is prejudicial to the ability of the Indemnifying Party to   defend such action, and only then to the extent so prejudiced, and such   failure shall in no event relieve the Indemnifying Party of any liability   that he or it may have to any Indemnified Party otherwise than under this <u>Section   3.6</u>.&#160; No Indemnifying Party, in   the defense of any such claim or litigation, shall, except with the consent   of each Indemnified Party, consent to entry of any judgment or enter into any   settlement that does not include as an unconditional term thereof the giving   by the claimant or plaintiff to such Indemnified Party of a release from all   liability with respect to such claim or litigation.</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">(d)</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">If the   indemnification provided in <u>Section   3.6(a)</u> or <u>Section 3.6(b)</u>is unavailable for any reason, the   Indemnifying Party agrees to contribute to the claims, losses, damages and   liabilities of the Indemnified Party in the proportion appropriate to reflect   (i) the relative benefits received by the Indemnified Party, on the one hand,   and the Indemnifying Party, on the other hand, in connection with the   transaction(s) from which such claims, losses, damages or liabilities arose,   (ii) the relative fault of the Indemnifying Party, on the one hand, and the   Indemnified Party, on the other, in connection with such claims, losses,   damages or liabilities, and (iii) any other relevant equitable   considerations.&#160; The relative fault of   the Indemnifying Party, on the one hand, and of the Indemnified Party, on the   other hand, shall be determined by reference to, among other things, the   parties&#146; relative intent, knowledge, access
to information, opportunity to   correct or prevent the circumstances resulting in such claims, losses,   damages or liabilities, and whether any alleged untrue statement or omission   or any other alleged conduct relates to information provided by the   Indemnifying Party or other conduct by the Indemnifying Party (or its   employees or other agents), on the one hand, or by the Indemnified Party, on   the other hand; <u>provided</u>, <u>however</u>, that the respective   obligations of any such Series D Holder or Bogatin Holder hereunder shall be   limited to an amount equal to the respective net proceeds to such Series D   Holder or Bogatin Holder of securities sold as contemplated herein.</font></p>  </td>
 </tr>
</table>

<p  align="center">
<font size="2" face="Times New Roman">13</font></p>
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<p>
<H5 style="PAGE-BREAK-BEFORE: always" align=left></H5>

<table align="center"  border="0" style="border-collapse:collapse" cellspacing="0"  cellpadding="0"  width="100%">

 <tr>
  <td width="5%" valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td width="5%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">(e)</font></p>  </td>
  <td width="90%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">For purposes   of this <u>Section 3.6</u>, the term &#147;<u>control</u>&#148; shall have the meaning   assigned thereto under the Securities Act.</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>3.7</b></font></p>  </td>
  <td  colspan="2" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>Information by the Purchaser and Bogatin.</b>&#160; Each Series D Holder and Bogatin Holder,   with respect to any registration in which Securities held by him, her or it   are included, shall furnish in writing to the Company such information   regarding himself, herself or itself and the distribution proposed by him,   her or it as the Company may reasonably request in writing and as shall be   reasonably required in connection with any registration, qualification or   compliance referred to in this Agreement, and the Company shall not be   required to include its or his respective securities in any such registration   unless such information shall have been provided.</font></p>  </td>
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 <tr>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="2" valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>3.8</b></font></p>  </td>
  <td  colspan="2" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>Limitations on Registration of Issues of   Securities.</b>&#160;   From and after the date of this Agreement, without the consent of the   Purchaser, the Company shall not enter into any agreement with any holder or   prospective holder of any securities of the Company, giving such holder or   prospective holder rights with respect to the registration of any securities   of the Company.</font></p>  </td>
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  <p><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="2" face="Times New Roman"><b>3.9</b></font></p>  </td>
  <td  colspan="2" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>Transfer of Registration Rights.</b></font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p align="justify">
<font size="2" face="Times New Roman">(a)</font></p>  </td>
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  <p align="justify">
<font size="2" face="Times New Roman">The rights   to cause the Company to register Securities under <u>Section 3.1</u>, <u>Section   3.2</u> and <u>Section 3.3</u> hereof may be assigned by the Purchaser (a) to   any beneficial owner of Registrable Securities or Conversion Shares for which   the Purchaser acts as nominee, (b) to an assignee of Registrable Securities   or Conversion Shares, or (c) upon distribution by the Purchaser or an   assignee described in (b), which assignee is an entity, of any Securities to   the direct or indirect beneficial owners of the securities of such entity   (including direct or indirect general or limited partners thereof), together   with the securities being transferred; <u>provided</u>, <u>however</u>, that   in each case the Company is given written notice, at the time or within a   reasonable time after said transfer, stating the name and address of said   transferee and identifying the Securities with respect to which such   registration rights are being
assigned.&#160;   No such assignment shall be effective unless the transferee shall be   required, as a condition to such transfer, to agree in writing that he or it   will receive and hold such Securities subject to the provisions of this   Agreement and unless the Company is given written notice at the time of the   assignment or within a reasonable time after such assignment, stating the   name and address of said transferee and identifying the securities that are   being assigned.</font></p>  </td>
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  <p><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p align="justify">
<font size="2" face="Times New Roman">(b)</font></p>  </td>
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  <p align="justify">
<font size="2" face="Times New Roman">The rights   to cause the Company to register Securities under <u>Section 3.2</u> hereof   may be assigned by Bogatin to any Permitted Transferee to whom Shares are   transferred pursuant to and in accordance with the provisions of <u>Section   2.3(b)(i)</u> and <u>Article V</u>; <u>provided</u>, <u>however</u>, that in   each case the Company is given written notice, at the time or within a   reasonable time after said transfer, stating the name and address of said   transferee and identifying the Securities with respect to which such   registration rights are being assigned.</font></p>  </td>
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<p  align="center">
<font size="2" face="Times New Roman">14</font></p>
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<p>
<H5 style="PAGE-BREAK-BEFORE: always" align=left></H5>
<p  align="center">
<font size="2" face="Times New Roman"><b>ARTICLE IV</b></font></p>
<p  align="center">
<font size="2" face="Times New Roman"><b>CORPORATE GOVERNANCE</b></font></p>
<BR>
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<font size="2" face="Times New Roman"><b>4.1</b></font></p>  </td>
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<font size="2" face="Times New Roman"><b>Board Representation.</b>&#160; For so long as Bogatin owns at least five   percent (5%) of the Company&#146;s Common Stock (calculated on a fully-diluted,   fully-converted basis), the Company hereby agrees to take such actions as are   necessary, and each of the Stockholders and the Purchaser agrees to vote his   or its Securities (and any other Securities over which he or it exercises   voting control) and take such other actions as are necessary so as to elect   and thereafter continue in office as a director of the Company one (1)   individual designated by Bogatin (the &#147;<u>Bogatin Designee</u>&#148;); <u>provided</u>,   <u>however</u>, that such individual (a)&nbsp;may not be Bogatin himself, (b)   may not be a family member or an Affiliate of Bogatin, (c) must have   appropriate background and experience to serve as a member of the Company&#146;s   Board of Directors, and (d) must be reasonably acceptable to the Company&#146;s   Board of Directors
in its sole discretion.&#160;   The Company hereby agrees to take such actions as are necessary, and   each of the Stockholders and the Purchaser agrees to vote his or its   Securities (and any other Securities over which he or it exercises voting   control) and take such other actions as are necessary or appropriate to   ensure that any vacancy on the Board of Directors occurring by reason of the   resignation or removal of the Bogatin Designee shall be filled in accordance   with the provisions of this <u>Section 4.1</u>.</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="2" face="Times New Roman"><b>4.2</b></font></p>  </td>
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<p align="justify">
<font size="2" face="Times New Roman"><b>Covenants of the Company.</b>&#160; The Company agrees to use its best efforts   to ensure that the rights granted under this <u>Article IV</u> are effective   and that the parties hereto enjoy the benefits thereof.&#160; Such actions include, without limitation,   the use of the Company&#146;s best efforts to cause the nomination and election of   the director as provided in <u>Section 4.1</u>.&#160; The Company will not, by any voluntary action, avoid or seek to   avoid the observance or performance of any of the terms to be performed   hereunder by the Company, but will at all times in good faith assist in the   carrying out of all of the provisions of this Agreement and in the taking of   all such actions as may be necessary or in order to protect the rights of the   parties hereunder against impairment.</font></p>  </td>
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<BR>
<p  align="center">
<font size="2" face="Times New Roman"><b>ARTICLE V</b></font></p>
<p  align="center">
<font size="2" face="Times New Roman"><b>APPLICATION TO TRANSFEREES</b></font></p>
<BR>
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<font size="2" face="Times New Roman"><b>5.1</b></font></p>  </td>
  <td width="95%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>Permitted   Transferees.</b>&#160;   The restrictions set forth in <u>Section 2.1</u> and <u>Section 2.2</u>   shall not apply to any transfer by a Stockholder to a Permitted Transferee; <u>provided</u>, <u>however</u>, that any Permitted Transferee shall be   subject to compliance with applicable securities laws and the terms of <u>Section   5.2</u>.&#160; All Shares transferred by a   Stockholder to a Permitted Transferee shall remain subject to the terms of   this Agreement, and such transferee shall be treated as a &#147;Stockholder&#148; for   purposes of this Agreement.</font></p>  </td>
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<p  align="center"><font size="2" face="Times New Roman">15</font></p>
<p><HR noShade>
<p>
<H5 style="PAGE-BREAK-BEFORE: always" align=left></H5>
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  <p align="justify">
<font size="2" face="Times New Roman"><b>5.2</b></font></p>  </td>
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  <p align="justify">
<font size="2" face="Times New Roman"><b>Written   Agreement.</b>&#160;   All transferees, including without limitation Permitted Transferees,   of any Shares from any Stockholder, other than Shares transferred pursuant to   the provisions of <u>Section 2.2(e)</u>, <u>Section 2.3(a)</u>, <u>Section   2.3(b)(ii)-(iii)</u>, or <u>Section 2.3(c)</u>, shall be required, and any   Stockholder transferring such Shares to any such transferee shall require   such transferee, as a condition of such transfer to agree in writing that   they will receive and hold such Shares or interest therein subject to the   provisions of this Agreement applicable to such Shares.&#160; Any sale or transfer of any such Shares   shall be void unless the provisions of this <u>Section 5.2</u> are met.</font></p>  </td>
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<p  align="center">
<font size="2" face="Times New Roman"><b>ARTICLE VI</b></font></p>
<p  align="center">
<font size="2" face="Times New Roman"><b>LEGENDS</b></font></p>
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<font size="2" face="Times New Roman"><b>6.1</b></font></p>  </td>
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  <p align="justify">
<font size="2" face="Times New Roman"><b>Legend Requirement.</b>&#160; All certificates representing any Shares   subject to the provisions of this Agreement shall have endorsed thereon   legends substantially as follows:</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td width="5%" valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td width="90%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">THE   SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE TERMS OF A   STOCKHOLDERS&#146; AGREEMENT, TO WHICH THE REGISTERED HOLDER, OR HIS, HER OR ITS   PREDECESSOR IN INTEREST, IS A PARTY, WHICH AGREEMENT PROVIDES FOR CERTAIN   VOTING RIGHTS AND OBLIGATIONS OF SALE AND PURCHASE.&#160; SUCH AGREEMENT IS ON FILE AT THE PRINCIPAL OFFICE OF THIS COMPANY   AND AFFECTS THE TRANSFERABILITY OF THE SHARES REPRESENTED BY THIS   CERTIFICATE.</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p align="justify">
<font size="2" face="Times New Roman"><b>6.2</b></font></p>  </td>
  <td  colspan="2" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>Removal of Legend.</b>&#160; The Company shall, upon request by either   Stockholder in connection with any transfer permitted by <u>Section 2.2(e)</u>   or <u>Section 2.3</u> (other than pursuant to <u>Section&nbsp;2.3(b)(i)</u>),   take such action as is necessary to remove, or cause to be removed, from the   certificate or certificates representing the Shares so transferred, the   legend required by <u>Section 6.1</u>.</font></p>  </td>
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</table>

<p  align="center">
<font size="2" face="Times New Roman"><b>ARTICLE VII</b></font></p>
<p  align="center">
<font size="2" face="Times New Roman"><b>MISCELLANEOUS</b></font></p>
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<font size="2" face="Times New Roman"><b>7.1</b></font></p>  </td>
  <td width="95%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>Transfers in Violation of this Agreement.</b>&#160; The Company shall not:&#160; (a) transfer on its books any Shares that   shall have been sold or transferred in violation of any of the provisions set   forth in this Agreement; or (b) treat as owner of such Shares, or accord the   right to vote as such owner, or pay dividends to, any transferee to whom any   such Shares shall have been so transferred.</font></p>  </td>
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  <p><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="2" face="Times New Roman"><b>7.2</b></font></p>  </td>
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  <p align="justify">
<font size="2" face="Times New Roman"><b>Term.</b>&#160; This   Agreement shall terminate upon the earlier of:&#160; (a) the written agreement of all parties hereto; (b) the   dissolution or liquidation of the Company, or the voluntary filing of a   petition in bankruptcy by the Company; (c) the passage of ten (10) years; (d)   with respect to the Stockholders, the closing of a firm commitment   underwritten public offering pursuant to an effective registration statement   under the Securities Act covering the offer and sale of the Company&#146;s Common   Stock at an aggregate offering price of not less than Twenty Five Million   Dollars ($25,000,000), which results in a post-offering market capitalization   of the Company in excess of Three Hundred Million Dollars ($300,000,000) or   (e) the closing of the Company&#146;s sale of all or substantially all of its   assets or the acquisition of the Company by another entity by means of merger   or consolidation resulting in the exchange of at least fifty

percent (50%) of   the outstanding shares of the Company&#146;s capital stock for securities or   consideration issued, or caused to be issued, by the acquiring entity or its   subsidiary.</font></p>  </td>
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<p  align="center">
<font size="2" face="Times New Roman">16</font></p>
<p><HR noShade>
<p>
<H5 style="PAGE-BREAK-BEFORE: always" align=left></H5>
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<font size="2" face="Times New Roman"><b>7.3</b></font></p>  </td>
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  <p align="justify">
<font size="2" face="Times New Roman"><b>Entire Agreement; Binding Effect.</b>&#160; This Agreement constitutes the entire   agreement between the parties with respect to the subject matter hereof, and   no party shall be liable or bound to any other party in any manner by any   warranties, representations or covenants with respect to such subject matter,   except as specifically set forth herein.&#160;   The terms and conditions of this Agreement shall inure to the benefit   of and be binding upon the respective successors and assigns of the parties.&#160; Nothing in this Agreement, express or implied,   is intended to confer upon any third party any rights, remedies, obligations   or liabilities under or by reason of this Agreement, except as expressly   provided in this Agreement.</font></p>  </td>
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  <p><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="2" face="Times New Roman"><b>7.4</b></font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>Governing Law.</b>&#160; This Agreement shall be governed by and   construed under the laws of the State of Delaware as applied to agreements   among residents of Delaware made and to be performed entirely within the   State of Delaware, and without regard to the conflicts of law principles as   may otherwise be applicable.</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p align="justify">
<font size="2" face="Times New Roman"><b>7.5</b></font></p>  </td>
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  <p align="justify">
<font size="2" face="Times New Roman"><b>Counterparts and Signature by Facsimile.</b>&#160; This Agreement may be executed in two or   more counterparts, each of which shall be deemed an original, but all of   which together shall constitute one and the same instrument.</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p align="justify">
<font size="2" face="Times New Roman"><b>7.6</b></font></p>  </td>
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  <p align="justify">
<font size="2" face="Times New Roman"><b>Notices.</b>&#160; All notices and other communications   required or permitted hereunder shall be in writing and shall be deemed   effectively given upon personal delivery, delivery by recognized overnight   courier (such as FedEx) or upon receipt of confirmation of delivery by   facsimile, telecopy, or registered or certified mail, return receipt   requested, postage prepaid, addressed:</font></p>  </td>
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<BR>

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  <p style="margin-left:1em; text-indent:-1em">
<font size="2" face="Times New Roman"><u>to Purchaser   or the Company</u>:</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">OvenWorks,   LLLP</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="2" face="Times New Roman">645 Madison   Avenue</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="2" face="Times New Roman">Suite 1500</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">New York,   New York&#160; 10022</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">Attn:&#160; Richard E. Perlman</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">Telephone:&#160; (212) 223-8633</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p align="justify">
<font size="2" face="Times New Roman">Facsimile:&#160; (212) 888-8133</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<p  align="center">
<font size="2" face="Times New Roman">17</font></p>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="2" face="Times New Roman">TurboChef Technologies, Inc.</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="2" face="Times New Roman">10500 Metric   Drive</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="2" face="Times New Roman">Suite 128</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="2" face="Times New Roman">Dallas,   Texas&#160; 75243</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="2" face="Times New Roman">Attn:&#160; Richard E. Perlman</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="2" face="Times New Roman">Telephone:&#160; (214) 379-6000</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="2" face="Times New Roman">Facsimile:&#160; (214) 340-8477</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="2" face="Times New Roman"><u>with a copy   to</u>:</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="2" face="Times New Roman">Kilpatrick   Stockton LLP</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="2" face="Times New Roman">1100   Peachtree Street</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="2" face="Times New Roman">Suite 2800</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="2" face="Times New Roman">Atlanta,   Georgia&#160; 30309</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="2" face="Times New Roman">Attn:&#160; Reinaldo Pascual</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p align="justify">
<font size="2" face="Times New Roman">Telephone:&#160; (404) 815-6500</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p align="justify">
<font size="2" face="Times New Roman">Facsimile:&#160; (404) 815-6555</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="2" face="Times New Roman"><u>to the   Stockholders</u>:</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p align="justify">
<font size="2" face="Times New Roman">Jeffrey B.   Bogatin</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <hr size="1" width="100%" noshade color=black>

  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <hr size="1" width="100%" noshade color=black>

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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p align="justify">
<font size="2" face="Times New Roman">Telephone:</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <td width="10%" valign="top">
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td width="10%" valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td width="8%" colspan="2" valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td width="21%" valign="top">
  <hr size="1" width="100%" noshade color=black>

  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p align="justify">
<font size="2" face="Times New Roman">Facsimile:</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <hr size="1" width="100%" noshade color=black>

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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p align="justify">
<font size="2" face="Times New Roman">Donald J.   Gogel</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <hr size="1" width="100%" noshade color=black>

  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p align="justify">
<font size="2" face="Times New Roman">Telephone:</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p align="justify">
<font size="2" face="Times New Roman">Facsimile:</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="4"  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="2" face="Times New Roman"><u>with a copy   to</u>:</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">Blank Rome   LLP</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">The Chrysler   Building</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">405   Lexington Avenue</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">New York,   New York&#160; 10174</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">Attn:&#160; Brad L. Shiffman</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">Telephone:&#160; (212) 885-5442</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">Facsimile:&#160; (212) 885-5001</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>

  <td  style='border:none'></td>
  <td ></td>
  <td ></td>
  <td ></td>
  <td ></td>
  <td ></td>
 </tr>
</table>

<BR>
<table align="center"  border="0" style="border-collapse:collapse" cellspacing="0"  cellpadding="0"  width="100%">

 <tr>
  <td width="5%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>7.7</b></font></p>  </td>
  <td width="95%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>Severability.</b>&#160; In case any provision of this Agreement   shall be invalid, illegal or unenforceable, it shall to the extent   practicable be modified so as to make it valid, legal and enforceable and to   retain as nearly as practicable the intent of the parties, and the validity,   legality, and enforceability of the remaining provisions shall not in any way   be affected or impaired thereby.</font></p>  </td>
 </tr>
</table>

<p  align="center"><font size="2" face="Times New Roman">18</font></p>
<p><HR noShade>
<p>
<H5 style="PAGE-BREAK-BEFORE: always" align=left></H5>
<table align="center"  border="0" style="border-collapse:collapse" cellspacing="0"  cellpadding="0"  width="100%">

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  <td width="5%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>7.8</b></font></p>  </td>
  <td width="95%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>Amendments; Waivers; Delays or Omissions.</b>&#160; No waiver, amendment, modification or   change of any provision of this Agreement shall be effective unless and until   made in writing and signed by all parties hereto.&#160; No delay or omission to exercise any right, power or remedy   accruing to any party hereto upon any breach, default or noncompliance of any   other party hereto under this Agreement, shall impair any such right, power   or remedy, nor shall it be construed to be a waiver of any such breach,   default or noncompliance, or any acquiescence therein, or of any similar   breach, default or noncompliance thereafter occurring.&#160; It is further agreed that any waiver,   permit, consent or approval of any kind or character on the part of any party   hereto of any breach, default or noncompliance under this Agreement or any   waiver on any such party&#146;s part of any provisions or conditions of this   Agreement must be in writing and shall be

effective only to the extent   specifically set forth in such writing and that all remedies, either under   this Agreement or otherwise afforded to any such party, shall be cumulative   and not alternative.</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>7.9</b></font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>Attorneys&#146; Fees.</b>&#160; Should any litigation or arbitration be   commenced between the parties hereto concerning this Agreement, the party   prevailing in such litigation or arbitration shall be entitled, upon final   judgment and expiration of all appeals, in addition to such other relief as   may be granted, to a reasonable sum for attorneys&#146; fees and costs in such litigation   or arbitration, which shall be determined by the court or arbitrator, as the   case may be.</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>7.10</b></font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>Further Documents and Actions.</b>&#160; The parties shall take such further   actions and execute and deliver such further documents as may be necessary or   convenient from time to time to more effectively carry out the intent and   purposes of this Agreement and to establish and protect the rights and   remedies created or intended to be created hereunder.</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>7.11</b></font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman"><b>Timely Performance.</b>&#160; Time is of the essence as to the   performance of the obligations required of the respective parties under this   Agreement.</font></p>  </td>
 </tr>
</table>

<BR>
<p  align="center">
<font size="2" face="Times New Roman">[signatures on following page]</font></p>
<p  align="center">
<font size="2" face="Times New Roman">19</font></p>
<p><HR noShade>
<p>
<H5 style="PAGE-BREAK-BEFORE: always" align=left></H5>
<p align="justify">
<font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>IN WITNESS WHEREOF,</b> the parties hereto have executed this Agreement as of the date first above written.</font></p>
<table align="center"  border="0" style="border-collapse:collapse" cellspacing="0"  cellpadding="0"  width="100%">

 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="2" face="Times New Roman"><b>COMPANY:</b></font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="2" face="Times New Roman"><b>TurboChef </b><b>Technologies, Inc.</b></font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="2" face="Times New Roman">By:</font></p>  </td>
  <td  colspan="2" valign="top">
  <p>
<font size="2" face="Times New Roman">&nbsp;/s/ Jeffrey B. Bogatin</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="2" valign="top">
  <hr size="1" width="100%" noshade color=black>

  </td>
 </tr>
 <tr>
  <td width="60%" valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td width="3%" valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td width="6%" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">Name:</font></p>  </td>
  <td width="30%" valign="bottom">
  <p>
<font size="2" face="Times New Roman">Jeffrey B. Bogatin</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">Title:</font></p>  </td>
  <td  valign="bottom">
  <p>
<font size="2" face="Times New Roman">Chairman</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="bottom">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="2" face="Times New Roman"><b>PURCHASER:</b></font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="2" face="Times New Roman"><b>OvenWorks, LLLP</b></font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="2" face="Times New Roman">By:</font></p>  </td>
  <td  colspan="2" valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">Oven Management,   Inc.,<br>   its general partner</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="bottom">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p align="justify">
<font size="2" face="Times New Roman">By:</font></p>  </td>
  <td  valign="bottom">
  <p>
<font size="2" face="Times New Roman">/s/ Richard E. Perlman</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="bottom">
  <hr size="1" width="100%" noshade color=black>

  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="bottom">
  <p>
<font size="2" face="Times New Roman">Richard E.   Perlman</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="bottom">
  <p>
<font size="2" face="Times New Roman">President</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em">
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="top">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  valign="bottom">
  <p>
<font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p style="margin-left:1em; text-indent:-1em"><font size="2" face="Times New Roman"><b>STOCKHOLDERS:</b></font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p><font size="2" face="Times New Roman">/s/ Jeffrey B. Bogatin</font></p>  </td>
 </tr>

 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <hr size="1" width="100%" noshade color=black>

  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p><font size="2" face="Times New Roman">Jeffrey B.   Bogatin</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <p><font size="2" face="Times New Roman">/s/ Donald J. Gogel</font></p>  </td>
 </tr>

 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
  <td  colspan="3"  valign="top">
  <hr size="1" width="100%" noshade color=black>

  </td>
 </tr>
 <tr>
  <td  valign="top">
  <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <p><font size="2" face="Times New Roman">Donald J.   Gogel</font></p>  </td>
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<p  align="center"><font size="2" face="Times New Roman">20</font></p>

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