<SUBMISSION>
<ACCESSION-NUMBER>0001144204-05-035762
<TYPE>6-K
<PUBLIC-DOCUMENT-COUNT>6
<PERIOD>20051115
<FILING-DATE>20051115
<DATE-OF-FILING-DATE-CHANGE>20051115
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>pSivida LTD
<CIK>0001314102
<ASSIGNED-SIC>3826
<IRS-NUMBER>000000000
<STATE-OF-INCORPORATION>C3
<FISCAL-YEAR-END>0630
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>6-K
<ACT>34
<FILE-NUMBER>000-51122
<FILM-NUMBER>051204588
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>LEVEL 12 BGC CENTRE
<STREET2>28 THE ESPLANADE
<CITY>PERTH
<STATE>C3
<ZIP>6000
<PHONE>61 8 9226 5099
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>LEVEL 12 BGC CENTRE
<STREET2>28 THE ESPLANADE
<CITY>PERTH
<STATE>C3
<ZIP>6000
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>v029459_6k.htm
<TEXT>
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    <div>&#160;</div>
    <div>&#160;</div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
      AND EXCHANGE COMMISSION</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Washington,
      D.C. 20549</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman"><strong>FORM
      6-K</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">REPORT
      OF
      FOREIGN ISSUER</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
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      Securities Exchange Act of 1934</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>For
      the month of November 2005</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Commission
      File Number 000-5112</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      of registrant&#8217;s name into English) </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Level
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      The
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      WA
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      by check mark whether the registrant files or will file annual reports under
      cover Form&#160;20-F or Form&#160;40-F). </font></div>
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</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">&#253;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Form
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indicate
      by check mark if the registrant is submitting the Form 6-K in paper as permitted
      by Regulation S-T Rule&#160;101(b)(1):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indicate
      by check mark if the registrant is submitting the Form 6-K in paper as permitted
      by Regulation S-T Rule&#160;101(b)(7):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indicate
      by check mark whether the registrant by furnishing the information contained
      in
      this Form is also thereby furnishing the information to the Commission pursuant
      to Rule&#160;12g3-2(b) under the Securities Exchange Act of 1934.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Yes
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      </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">&#253;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
      "Yes"
      is marked, indicate below the file number assigned to the registrant in
      connection with Rule&#160;12g3-2(b): 82-___. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURE
      </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the requirements of the Securities Exchange Act of 1934, the registrant,
      pSivida Limited, has duly caused this report to be signed on its behalf by
      the
      undersigned, thereunto duly authorized. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font size="2">Date:
      November 15, 2005</font></div>
    <div>
      <table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

          <tr valign="top" bgcolor="#ffffff">
            <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">pSivida
              Limited</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td>&#160;</td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/Aaron
              Finlay</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="FONT-FAMILY: Times New Roman" size="1">&#160;</font></td>
            <td align="left">
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            </td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td>
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Aaron
                Finlay</font></div>
              <div><font size="2">Chief Financial Officer and Company
                Secretary</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
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    <div>&#160;</div>
    <div>&#160;</div>
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      following is a summary of the terms of the transactions contemplated by the
      agreements contained in this Form&#160;6-K. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>This
      summary is not intended to be complete and is qualified in its entirety by
      reference to the exhibits to this Form 6-K.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">THIS
      FORM
      6-K IS NOT AN OFFER TO SELL, NOR IS IT SEEKING AN OFFER TO BUY, ANY SECURITIES
      IN ANY JURISDICTION WHERE THE OFFER OR SALE OF THESE SECURITIES IS NOT
      PERMITTED. </font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Securities
      Purchase Agreement</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">pSivida
      and an institutional investor (referred to in this form as the investor) entered
      into a Securities Purchase Agreement on October 5, 2005. The agreement provides
      for the purchase of a note and warrant by the investor. The note purchase price
      is equal to US$15 million. The investor will receive a warrant to purchase
      up to
      633,803 American Depositary Shares (ADSs) of pSivida for no additional
      consideration.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Closing
      of the issue of the note and warrant is subject to the fulfillment or waiver
      of
      specified conditions. Under the agreement, pSivida has agreed not to issue
      any
      securities before February 14, 2006, except pursuant to the conversion of
      existing convertible securities, options or warrants or as contemplated pursuant
      to pending or completed transactions. pSivida has further agreed not to issue
      any further securities for two years after the closing date (other than pursuant
      to certain permitted issuances) unless the investor is offered to subscribe
      for
      at least 50% of the securities to be offered on the same terms as the securities
      are to be offered to any other person. An example of a permitted issuance is
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Under
      the
      agreement, pSivida agreed, among other things, to continue to file reports
      with
      the U.S. Securities and Exchange Commission, to keep its securities listed
      on
      specified exchanges or quotation systems, and not to undertake certain types
      of
      dilutive securities issues. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      Note</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      short
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div align="left">
      <div>
        <table bgcolor="#ffffff" cellpadding="0" cellspacing="0" width="100%">

            <tr bgcolor="#ffffff">
              <td valign="top" width="2%">
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              </td>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
                  note will have a face value of US$15,000,000. </font></div>
              </td>
            </tr>
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              <td width="2%">&#160;</td>
              <td width="2%">&#160;</td>
              <td width="96%">&#160;</td>
            </tr>
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              <td valign="top" width="2%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="FONT-FAMILY: Symbol" size="2">&#183;</font></div>
              </td>
              <td width="2%">&#160;</td>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
                  note may be converted by the holder into ADSs at any time prior
                  to the
                  third anniversary of the date of issue of the note. The number
                  of shares
                  to be issued on conversion of the note is to be calculated by dividing
                  the
                  face value of the note to be converted (and any accrued but unpaid
                  interest on the note) by the issue price of the ADSs. </font></div>
              </td>
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              <td width="2%">&#160;</td>
              <td width="2%">&#160;</td>
              <td width="96%">&#160;</td>
            </tr>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="FONT-FAMILY: Symbol" size="2">&#183;</font></div>
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              <td width="2%">&#160;</td>
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                  conversion price will initially be US$7.10 per ADS and may be adjusted
                  under certain circumstances, including, among others, in the event
                  pSivida
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                  note may be
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              <td width="2%">&#160;</td>
              <td width="96%">&#160;</td>
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              <td width="2%">&#160;</td>
              <td width="96%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
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                of 8%
                per annum.</font></td>
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              <td width="2%">&#160;</td>
              <td width="2%">&#160;</td>
              <td width="96%">&#160;</td>
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              </td>
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                  certain circumstances, pSivida may make interest payments in the
                  form of
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              <td width="2%">&#160;</td>
              <td width="96%">&#160;</td>
            </tr>
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              <td valign="top" width="2%">
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              </td>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
                  note contains certain events of default which allow the investor
                  to
                  accelerate the maturity of the note and permit the investor to
                  force
                  payment of the note in the event of a change of control of
                  pSivida.</font></div>
              </td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="2%">&#160;</td>
              <td width="2%">&#160;</td>
              <td width="96%">&#160;</td>
            </tr>
            <tr bgcolor="#ffffff">
              <td valign="top" width="2%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="FONT-FAMILY: Symbol" size="2">&#183;</font></div>
              </td>
              <td width="2%">&#160;</td>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">pSivida
                  has the right, in certain specified circumstances, to force the
                  investor
                  to convert the note into ADSs, including if the ADSs are trading
                  at 200%
                  of the conversion price during a specified period.</font></div>
              </td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="2%">&#160;</td>
              <td width="2%">&#160;</td>
              <td width="96%">&#160;</td>
            </tr>
            <tr bgcolor="#ffffff">
              <td valign="top" width="2%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="FONT-FAMILY: Symbol" size="2">&#183;</font></div>
              </td>
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              <td width="96%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
                  investor has the right to require pSivida to prepay one-third of
                  the note
                  at the 12, 18 and 24 month anniversary of its issuance under certain
                  circumstances, including if the ADSs are trading below the conversion
                  price during a specified period.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-2-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>
        <table bgcolor="#ffffff" cellpadding="0" cellspacing="0" width="100%">

            <tr bgcolor="#ffffff">
              <td valign="top" width="2%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="FONT-FAMILY: Symbol" size="2">&#183;</font></div>
              </td>
              <td width="2%">&#160;</td>
              <td width="96%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
                note contains various negative covenants, including limitations on
                the
                incurrence of debt and liens, and the maintenance of certain cash
                levels.</font></td>
            </tr>

        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>The
      Warrant</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      following is a summary of the terms of the warrant:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <div>
        <table bgcolor="#ffffff" cellpadding="0" cellspacing="0" width="100%">

            <tr bgcolor="#ffffff">
              <td valign="top" width="2%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="FONT-FAMILY: Symbol" size="2">&#183;</font></div>
              </td>
              <td width="2%">&#160;</td>
              <td width="96%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
                  warrant constitutes an option to acquire up to 633,803 ADSs at
                  any time on
                  or before the sixth anniversary of the issue of the
                  warrant.</font></div>
              </td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="2%">&#160;</td>
              <td width="2%">&#160;</td>
              <td width="96%">&#160;</td>
            </tr>
            <tr bgcolor="#ffffff">
              <td valign="top" width="2%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="FONT-FAMILY: Symbol" size="2">&#183;</font></div>
              </td>
              <td width="2%">&#160;</td>
              <td width="96%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
                per ADS exercise price under the warrant is US$7.20 and may be adjusted
                under certain circumstances, including, among others, in the event
                pSivida
                issues securities at a lower price than the price at which the note
                may be
                converted or pSivida makes a pro rata issuance to shareholders.
                </font></td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="2%">&#160;</td>
              <td width="2%">&#160;</td>
              <td width="96%">&#160;</td>
            </tr>
            <tr bgcolor="#ffffff">
              <td valign="top" width="2%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="FONT-FAMILY: Symbol" size="2">&#183;</font></div>
              </td>
              <td width="2%">&#160;</td>
              <td width="96%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">There
                is a limit of 4.99% in respect of an investor and its affiliates&#8217;
                beneficial ownership in pSivida, which may prevent it from exercise
                of
                part of the warrant (this limit may be changed by the investor).
                </font></td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="2%">&#160;</td>
              <td width="2%">&#160;</td>
              <td width="96%">&#160;</td>
            </tr>
            <tr bgcolor="#ffffff">
              <td valign="top" width="2%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="FONT-FAMILY: Symbol" size="2">&#183;</font></div>
              </td>
              <td width="2%">&#160;</td>
              <td width="96%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
                  there is a fundamental transaction (such as a transaction which
                  involves a
                  change in control of pSivida or a transfer of substantially all
                  of its
                  assets), pSivida will use its best endeavors to procure that the
                  successor
                  entity assumes all of the obligations of pSivida under the
                  warrant.</font></div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">THE
      SECURITIES DESCRIBED HEREIN WILL NOT BE OR HAVE NOT BEEN REGISTERED UNDER THE
      SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED
      STATES ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM REGISTRATION
      REQUIREMENTS.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">THE
      SECURITIES PURCHASE AGREEMENT IS BEING FILED AS AN EXHIBIT TO THIS REPORT OF
      FOREIGN ISSUER ON FORM 6-K TO PROVIDE INVESTORS WITH INFORMATION REGARDING
      ITS
      TERMS. THE SECURITIES PURCHASE AGREEMENT CONTAINS REPRESENTATIONS AND WARRANTIES
      THAT PSIVIDA LIMITED AND INVESTORS LISTED ON THE SCHEDULE OF BUYERS MADE TO
      EACH
      OTHER AS OF THE DATE OF THE SECURITIES PURCHASE AGREEMENT OR OTHER SPECIFIC
      DATES, AND SUCH REPRESENTATIONS AND WARRANTIES SHOULD NOT BE RELIED UPON BY
      ANY
      OTHER PERSON.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EXHIBIT
      INDEX</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EXHIBIT
                99.1:</strong></font></div>
            </td>
            <td width="3%">&#160;</td>
            <td align="left" valign="top" width="82%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Securities
                Purchase Agreement, dated October 5, 2005, between pSivida Limited
                and the
                investor listed on the Schedule of Buyers attached
                thereto</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EXHIBIT
                99.2:</strong></font></div>
            </td>
            <td width="3%">&#160;</td>
            <td align="left" valign="top" width="82%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
                of Subordinated Convertible Note in the principal amount of
                US$15,000,000</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EXHIBIT
                99.3:</strong></font></div>
            </td>
            <td width="3%">&#160;</td>
            <td align="left" valign="top" width="82%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
                of Warrant to Purchase ADRs for the purchase of up to 633,803
                ADRs</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EXHIBIT
                99.4:</strong></font></div>
            </td>
            <td width="3%">&#160;</td>
            <td align="left" valign="top" width="82%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
                of Registration Rights Agreement </font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EXHIBIT
                99.5:</strong></font></div>
            </td>
            <td width="3%">&#160;</td>
            <td align="left" valign="top" width="82%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Letter
                Agreement, dated November 15, 2005, relating to the Securities Purchase
                Agreement</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-3-</font></div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
  </body>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v029459_ex99-1.htm
<TEXT>
<html>
  <head>
    <title></title>
</head>
  <body bgcolor="#ffffff">
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EXHIBIT
        99.1</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Securities
        Purchase Agreement, dated October 5, 2005, between pSivida Limited and the
        investor listed on the Schedule of Buyers attached
        thereto</strong></font></div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Execution
        Version</strong></font><br></div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
        PURCHASE AGREEMENT</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
        PURCHASE AGREEMENT</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        (the
        "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Agreement</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        dated
        as of October 5th 2005 by and among pSivida Limited, an Australian corporation,
        with headquarters located at Level 12, BGC Centre, 28 The Esplanade, Perth,
        WA
        6000 Australia (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Company</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        and
        the investors listed on the Schedule of Buyers attached hereto (individually,
        a
        "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Buyer</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        and
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>WHEREAS</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company and each Buyer is executing and delivering this Agreement in reliance
        upon the exemption from securities registration afforded by Section 4(2)
        of the
        Securities Act of 1933, as amended (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>1933
        Act</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        and
        Rule 506 of Regulation D ("</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Regulation
        D</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        as
        promulgated by the United States Securities and Exchange Commission (the
        "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SEC</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        under
        the 1933 Act.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">B.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company has authorized a new series of convertible notes of the Company,
        which
        notes shall be convertible into ordinary shares of the Company (the
        "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Ordinary
        Shares</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        which
        are, as of the date hereof, represented by American Depositary Shares each
        representing 10 Ordinary Shares and evidenced by an American Depository Receipt
        ("</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ADR</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        in
        accordance with the terms of the Notes (as converted, the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Conversion
        Shares</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">").</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">C.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Each
        Buyer wishes to purchase, severally but not jointly, and the Company wishes
        to
        sell, upon the terms and conditions stated in this Agreement, (i) that aggregate
        principal amount of notes, in substantially the form attached hereto as Exhibit
        A (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Notes</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        set
        forth opposite such Buyer's name in column (3) on the Schedule of Buyers
        (which
        aggregate principal amount for all Buyers shall be $15,000,000) and (ii)
        warrants, in substantially the form attached hereto as Exhibit B (the
        "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Warrants</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        to
        acquire up to that number of additional Ordinary Shares set forth opposite
        such
        Buyer's name in column (4) of the Schedule of Buyers (as exercised, the
        "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Warrant
        Shares</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">").
        </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">D.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Notes
        bear interest, which at the option of the Company, subject to certain
        conditions, may be paid in Ordinary Shares ("</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Interest
        Shares</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">").</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">E.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Contemporaneously
        with the execution and delivery of this Agreement, the parties hereto are
        executing and delivering a registration rights agreement, substantially in
        the
        form attached hereto as Exhibit C (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Registration
        Rights Agreement</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        pursuant to which the Company has agreed to provide certain registration
        rights
        with respect to the Conversion Shares, the Warrant Shares and the Interest
        Shares under the 1933 Act and the rules and regulations promulgated thereunder,
        and applicable state securities laws.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Notes, the Conversion Shares (including ADRs), the Interest Shares (including
        ADRs), the Warrants and the Warrant Shares (including ADRs) collectively
        are
        referred to herein as the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Securities</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">".</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 63pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 63pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>NOW,
        THEREFORE</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        the
        Company and each Buyer hereby agree as follows:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
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      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>PURCHASE
        AND SALE OF&#160;DEBENTURES AND WARRANTS.</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Amount</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Subject
        to the satisfaction (or waiver) of the conditions set forth in Sections 6
        and 7
        below, the Company shall issue to each Buyer, and each Buyer severally, but
        not
        jointly, agrees to purchase from the Company on the Closing Date (as defined
        below), a principal amount of Notes, as is set forth opposite such Buyer's
        name
        in column (3) on the Schedule of Buyers,</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">along
        with Warrants to acquire that number of Warrant Shares as is set forth opposite
        such Buyer's name in column (4) on the Schedule of Buyers. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Closing</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        closing (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Closing</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        of the
        purchase of the Notes and the Warrants by the Buyers shall occur at the offices
        of Schulte Roth &amp; Zabel LLP, 919 Third Avenue, New York, New York 10022. The
        date and time of the Closing (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Closing
        Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        shall
        be 10:00 a.m., New York City Time, two (2) Business Days after, and subject
        to,
        satisfaction (or waiver) of the conditions to the Closing set forth in Sections
        6 and 7 below (or such later date as is mutually agreed to by the Company
        and
        each Buyer). </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Purchase
        Price</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        purchase price for each Buyer (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Purchase
        Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        of the
        Notes and related Warrants to be purchased by each such Buyer at the Closing
        shall be equal to $1.00 for each $1.00 of principal amount of Notes being
        purchased by such Buyer at the Closing.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Form
        of Payment</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        On the
        Closing Date, (A) each Buyer shall pay its aggregate applicable Purchase
        Price
        to the Company for the Notes and the Warrants to be issued and sold to such
        Buyer at the Closing, by wire transfer of immediately available funds in
        accordance with the Company's written wire instructions, and (B)&#160;the
        Company shall deliver to each Buyer the Notes (in the principal amounts as
        such
        Buyer shall have requested prior to the Closing) which such Buyer is then
        purchasing along with the Warrants (in the amounts as such Buyer shall have
        requested prior to the Closing) such Buyer is purchasing, duly executed on
        behalf of the Company and registered in the name of such Buyer or its designee.
        </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>BUYER'S
        REPRESENTATIONS, WARRANTIES AND COVENANTS.</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Each
        Buyer represents, warrants, covenants and agrees with respect to only itself
        that: </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>No
        Public Sale or Distribution</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Such
        Buyer is (i) acquiring the Notes and the Warrants, and (ii) upon conversion
        of
        the Notes and exercise of the Warrants will acquire the Conversion Shares
        issuable upon conversion of the Notes and the Warrant Shares issuable upon
        exercise of the Warrants, for its own account and not with a view towards,
        or
        for resale in connection with, the public sale or distribution thereof, except
        pursuant to sales registered or exempted under the 1933 Act; </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>provided</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>however</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        that by
        making the representations herein, such Buyer does not agree to hold any
        of the
        Securities for any minimum or other specific term and reserves the right
        to
        dispose of the Securities at any time in accordance with or pursuant to a
        registration statement or an exemption under the 1933 Act. Such Buyer is
        acquiring the Securities hereunder in the ordinary course of its business.
        Such
        Buyer does not presently have any agreement or understanding, directly or
        indirectly, with any Person to distribute any of the Securities.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Accredited
        Investor Status</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Such
        Buyer is an "accredited investor" as that term is defined in Rule 501(a)
        of
        Regulation D.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Reliance
        on Exemptions</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Such
        Buyer understands that the Securities are being offered and sold to it in
        reliance on specific exemptions from the registration requirements of United
        States federal and state securities laws and in compliance with Australian
        Securities Laws (as defined below) and that the Company is relying in part
        upon
        the truth and accuracy of, and such Buyer's compliance with, the
        representations, warranties, agreements, acknowledgments and understandings
        of
        such Buyer set forth herein in order to determine the availability of such
        exemptions and the eligibility of such Buyer to acquire the
        Securities.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Information</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Such
        Buyer and its advisors, if any, have been furnished with all materials relating
        to the business, finances and operations of the Company and materials relating
        to the offer and sale of the Securities which have been requested by such
        Buyer
        and have had access to those documents described in Section 3(k) as are
        generally available to the public. Such Buyer and its advisors, if any, have
        been afforded the opportunity to ask questions of the Company. Neither such
        inquiries nor any other due diligence investigations conducted by such Buyer
        or
        its advisors, if any, or its representatives shall modify, amend or affect
        such
        Buyer's right to rely on the Company's representations and warranties contained
        herein and such Buyer represents that, in connection with its purchase of
        the
        Securities, it has not relied on any statement or representation by the Company
        or any of its officers, directors or employees or any of its attorneys or
        agents, except as specifically set forth in the Transaction Documents. Such
        Buyer understands that its investment in the Securities involves a high degree
        of risk. Such Buyer has sought such accounting, legal and tax advice as it
        has
        considered necessary to make an informed investment decision with respect
        to its
        acquisition of the Securities.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>No
        Governmental Review</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Such
        Buyer understands that no United States federal or state agency or any other
        government or governmental agency has passed on or made any recommendation
        or
        endorsement of the Securities or the fairness or suitability of the investment
        in the Securities nor have such authorities passed upon or endorsed the merits
        of the offering of the Securities.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(f)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Transfer
        or Resale</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Such
        Buyer understands that except as provided in the Registration Rights Agreement:
        (i) the Securities have not been and are not being registered under the 1933
        Act
        or any state securities laws, and may not be offered for sale, sold, assigned
        or
        transferred unless (A) subsequently registered thereunder, (B) such Buyer
        shall
        have delivered to the Company an opinion of counsel, in a form reasonably
        acceptable to the Company, to the effect that such Securities to be sold,
        assigned or transferred may be sold, assigned or transferred pursuant to
        an
        exemption from such registration, or (C) such Buyer provides the Company
        with
        such documents, certificates or opinions as the Company may reasonably request
        to the effect that such Securities can be sold, assigned or transferred pursuant
        to Rule 144 or Rule 144A promulgated under the 1933 Act, as amended (or a
        successor rule thereto) (collectively, "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Rule
        144</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">");
        (ii)
        any sale of the Securities made in reliance on Rule 144 may be made only
        in
        accordance with the terms of Rule 144 and further, if Rule 144 is not
        applicable, any resale of the Securities under circumstances in which the
        seller
        (or the Person (as defined in Section 3(r)) through whom the sale is made)
        may
        be deemed to be an underwriter (as that term is defined in the 1933 Act)
        may
        require compliance with some other exemption under the 1933 Act or the rules
        and
        regulations of the SEC thereunder; and (iii) neither the Company nor any
        other
        Person is under any obligation to register the Securities under the 1933
        Act or
        any state securities laws or to comply with the terms and conditions of any
        exemption thereunder. The Securities may be pledged in connection with a
        bona
        fide margin account or other loan or financing arrangement secured by the
        Securities and such pledge of Securities shall not be deemed to be a transfer,
        sale or assignment of the Securities hereunder, and no Buyer effecting a
        pledge
        of Securities shall be required to provide the Company with any notice thereof
        or otherwise make any delivery to the Company pursuant to this Agreement
        or any
        other Transaction Document (as defined in Section 3(b)), including, without
        limitation, this Section 2(i).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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        </div>
      </div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(g)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Legends</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Such
        Buyer understands that the certificates or other instruments representing
        the
        Notes and the Warrants and, until such time as the resale of the Conversion
        Shares and the Warrant Shares have been registered under the 1933 Act as
        contemplated by the Registration Rights Agreement, the certificates representing
        any Securities, except as set forth below, shall bear any legend as required
        by
        the "blue sky" laws of any state and a restrictive legend in substantially
        the
        following form (and a stop-transfer order may be placed against transfer
        of such
        stock certificates):</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 36pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[NEITHER
        THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR
        THE
        SECURITIES INTO WHICH THESE SECURITIES ARE [CONVERTIBLE][EXERCISABLE] HAVE
        BEEN][THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN] REGISTERED
        UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES
        LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED
        (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
        UNDER THE SECURITIES ACT OF 1933, AS AMENDED OR (B) AN OPINION OF COUNSEL,
        IN A
        FORM REASONABLY ACCEPTABLE TO THE COMPANY, THAT REGISTRATION IS NOT REQUIRED
        UNDER SAID ACT OR (II) IF SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID
        ACT,
        SUCH DOCUMENTS, OPINIONS AND CERTIFICATES AS THE COMPANY MAY REASONABLY REQUIRE.
        NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION
        WITH
        A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED
        BY THE
        SECURITIES.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        legend set forth above shall be removed and the Company shall issue a
        certificate without such legend to the holder of the Securities upon which
        it is
        stamped, if, unless otherwise required by state securities laws, (i) such
        Securities are registered for resale under the 1933 Act, (ii) in connection
        with
        a sale, assignment or other transfer, such holder provides the Company with
        an
        opinion of counsel, in a form reasonably acceptable to the Company, to the
        effect that such sale, assignment or transfer of the Securities may be made
        without registration under the applicable requirements of the 1933 Act, or
        (iii)
        such holder provides the Company with such documents, certificates or opinions
        as the Company may reasonably request to the effect that the Securities can
        be
        sold, assigned or transferred pursuant to Rule 144 or Rule 144A.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
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          </div>
        </div>
      </div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(h)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Validity;
        Enforcement</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        This
        Agreement and the Registration Rights Agreement have been duly and validly
        authorized, executed and delivered on behalf of such Buyer and shall constitute
        the legal, valid and binding obligations of such Buyer, enforceable against
        such
        Buyer in accordance with their respective terms, except as such enforceability
        may be limited by general principles of equity or to applicable bankruptcy,
        insolvency, reorganization, moratorium, liquidation and other similar laws
        relating to, or affecting generally, the enforcement of applicable creditors'
        rights and remedies. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>No
        Conflicts</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        execution, delivery and performance by such Buyer of this Agreement and the
        Registration Rights Agreement and the consummation by such Buyer of the
        transactions contemplated hereby and thereby will not (i) result in a violation
        of the organizational documents of such Buyer or (ii) conflict with, or
        constitute a default (or an event which with notice or lapse of time or both
        would become a default) under, or give to others any rights of termination,
        amendment, acceleration or cancellation of, any agreement, indenture or
        instrument to which such Buyer is a party, or (iii) result in a violation
        of any
        law, rule, regulation, order, judgment or decree (including federal and state
        securities laws and Australian Securities Laws) applicable to such Buyer,
        except
        in the case of clauses (ii) and (iii) above, for such conflicts, defaults,
        rights or violations which would not, individually or in the aggregate,
        reasonably be expected to have a material adverse effect on the ability of
        such
        Buyer to perform its obligations hereunder or thereunder.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(j)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Certain
        Trading Activities</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        (A) No
        such Buyer nor its affiliates has directly or indirectly, and no Person acting
        on behalf of or pursuant to any understanding with such Buyer or its affiliates
        has directly or indirectly, engaged in any transactions in the securities
        of the
        Company (including, without limitations, any Short Sales) since the time
        that
        such Buyer was first contacted by the Company, a placement agent or any other
        Person with respect to the transactions contemplated hereby (the foregoing,
        a
        "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Prohibited
        Transaction</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">").
        &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Short
        Sales</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        include, without limitation, all &#8220;short sales&#8221; as defined in Rule 200
        promulgated under Regulation SHO under the 1934 Act and all types of direct
        and
        indirect stock pledges, forward sale contracts, options, puts, calls, short
        sales, swaps and similar arrangements (including on a total return basis),
        and
        sales and other transactions through non-US broker dealers or foreign regulated
        brokers (but does not include any actions to secure available shares to borrow
        in order to effect Short Sales or similar transactions in the
        future.)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(B)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Such
        Buyer covenants that neither it, its affiliates, nor any Person acting on
        its or
        its affiliate&#8217;s behalf or pursuant to any understanding with it or its affiliate
        will (x) engage in any Prohibited Transaction prior to the earlier of the
        Effective Date and the Effectiveness Deadline or (y) during the twenty (20)
        Trading Days (as defined in the Notes) prior to any Optional Redemption Date
        (as
        defined in the Notes), engage in any Short Sale or otherwise sell any securities
        of the Company other than (i) any Conversion Shares received or due to the
        Buyer
        at any time upon any conversion of the Note or (ii) any Warrant Shares received
        or due to the Buyer at any time upon any exercise of the Warrant.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
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          </div>
        </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(C)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notwithstanding
        any other provision of this Agreement, the Buyers agree and undertake to
        the
        Company that the Buyers will not transfer or otherwise dispose of, or agree
        to
        the transfer or dispose of (such action a "Disposal"), any of the: Notes,
        Warrants, Conversion Shares, Interest Shares, Warrants or Warrant Shares
        (or the
        fully paid ordinary shares underlying any of them) within 12 months after
        the
        relevant date of issue, to any Australian resident or person within Australia
        (including through trading on the Australian Stock Exchange), unless the
        Disposal does not require a disclosure document under Chapter 6 of the
        Corporations Act and the transferee has given the Buyer a binding undertaking
        on
        the same terms as those contained in this clause.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(k)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Residency</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Such
        Buyer is a resident of that jurisdiction specified below its address on the
        Schedule of Buyers.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(l)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Buyer
        Agent Fees</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Such
        Buyer has taken no action which would give rise to any claim by any Person
        for
        brokerage commission, finder&#8217;s fees or similar payments by the Company relating
        to this Agreement or the transactions contemplated hereby (</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>"Buyers'
        Agent Fees"</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">).
        The
        Company shall have no obligation with respect to any Buyers' Agent Fees or
        with
        respect to any claims made by or on behalf of other Persons for any Buyers'
        Agent Fees. Such Buyer shall indemnify and hold harmless each of the Company,
        its employees, officers, directors, agents and partners and their respective
        affiliates, from and against all claims, losses, damages, costs (including
        the
        costs of preparation and attorney&#8217;s fees) and expenses suffered in respect of
        any such claimed or existing Buyers' Agent Fees, as and when
        incurred.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>REPRESENTATIONS
        AND WARRANTIES OF THE COMPANY.</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company represents and warrants to each of the Buyers as follows (it being
        understood and agreed that all such representations and warranties are made
        without recognizing or giving effect to the Acquisition, the documents being
        executed in connection therewith and that the company being acquired pursuant
        to
        the Acquisition is not considered a subsidiary or part of the Company for
        the
        purposes hereof):</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Organization
        and Qualification</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company and its "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Subsidiaries</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        (which
        for purposes of this Agreement means any entity in which the Company, directly
        or indirectly, owns capital stock or holds an equity or similar interest
        in
        excess of 50% of such stock or equity) are entities duly organized and validly
        existing in good standing under the laws of the jurisdiction in which they
        are
        formed, and have the requisite power and authorization to own their properties
        and to carry on their business as now being conducted. Each of the Company
        and
        its Subsidiaries is duly qualified as a foreign entity to do business and
        is in
        good standing in every jurisdiction in which its ownership of property or
        the
        nature of the business conducted by it makes such qualification necessary,
        except to the extent that the failure to be so qualified or be in good standing
        would not have a Material Adverse Effect. As used in this Agreement,
        "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Material
        Adverse Effect</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        any event or collection of events which individually or in the aggregate
        would
        reasonably be expected to have a material adverse effect on the business,
        properties, assets, operations, results of operations, condition (financial
        or
        otherwise) or prospects of the Company and its Subsidiaries, taken as a whole,
        or on the transactions contemplated hereby and the other Transaction Documents
        or by the agreements and instruments to be entered into in connection herewith
        or therewith, or on the authority or ability of the Company to perform fully
        its
        obligations under the Transaction Documents (as defined below). The Company
        has
        no Subsidiaries except as set forth on </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Schedule
        3(a)</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Authorization;
        Enforcement; Validity</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company has the requisite power and authority to enter into and perform its
        obligations under this Agreement, the Notes, the Registration Rights Agreement,
        the Irrevocable Transfer Agent Instructions (as defined in Section 5(b)),
        the
        Warrants and each of the other agreements entered into by the parties hereto
        in
        connection with the transactions contemplated by this Agreement (collectively,
        the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Transaction
        Documents</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        and,
        subject to the Company obtaining the Shareholder Approval (as defined in
        </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Section
        4(p)</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        to
        issue the Securities in accordance with the terms hereof and thereof. The
        execution and delivery of the Transaction Documents by the Company and the
        consummation by the Company of the transactions contemplated hereby and thereby,
        including, without limitation and subject to the Company obtaining the
        Shareholder Approval, the issuance of the Notes and the Warrants, the issuance
        of the Conversion Shares</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">issuable
        upon conversion of the Notes, and the issuance of Warrant Shares issuable
        upon
        exercise of the Warrants have been duly authorized by the Company's Board
        of
        Directors and (other than the filing with the SEC of one or more Registration
        Statements in accordance with the requirements of the Registration Rights
        Agreement) no further filing, consent, or authorization, other than obtaining
        the Shareholder Approval, is required by the Company, its Board of Directors
        or
        its stockholders. This Agreement and the other Transaction Documents of even
        date herewith have been duly executed and delivered by the Company, and
        constitute the legal, valid and binding obligations of the Company, enforceable
        against the Company in accordance with their respective terms, except as
        such
        enforceability may be limited by general principles of equity or applicable
        bankruptcy, insolvency, reorganization, moratorium, liquidation or similar
        laws
        relating to, or affecting generally, the enforcement of applicable creditors'
        rights and remedies.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Issuance
        of Securities</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        issuance of the Notes and the Warrants shall, upon the occurrence of the
        Company
        obtaining the Shareholder Approval, be duly authorized and shall be free
        from
        all taxes, liens and charges with respect to the issue thereof. Subject to
        the
        company obtaining the Shareholder Approval, upon conversion or in accordance
        with the Notes or exercise in accordance with the Warrants, as the case may
        be,
        the Interest Shares, the Conversion Shares and the Warrant Shares, respectively,
        will be validly issued, fully paid and nonassessable and free from all
        preemptive or similar rights, taxes, liens and charges with respect to the
        issue
        thereof, with the holders being entitled to all rights accorded to a holder
        of
        Ordinary Shares. Assuming the accuracy of the representations and warranties
        of
        the Buyers contained in Section 2, the offer and issuance by the Company
        of the
        Securities is exempt from registration under the 1933 Act.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>No
        Conflicts</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        execution, delivery and performance of the Transaction Documents by the Company
        and the consummation by the Company of the transactions contemplated hereby
        and
        thereby (including, without limitation, the issuance of the Notes and the
        Warrants and issuance of the Interest Shares, the Conversion Shares and the
        Warrant Shares) will not, assuming the Company obtains Shareholder approval
        as
        contemplated by Section 4(p) (i) result in a violation of the Certificate
        of
        Incorporation (as defined in Section 3(q)) of the Company or any of its
        Subsidiaries, or (ii) conflict with, or constitute a default (or an event
        which
        with notice or lapse of time or both would become a default) under, or give
        to
        others any rights of termination, amendment, acceleration or cancellation
        of,
        any agreement, indenture or instrument to which the Company or any of its
        Subsidiaries is a party, or (iii) result in a violation of any law, rule,
        regulation, order, judgment or decree (including federal and state securities
        laws and regulations and the rules and regulations of the Nasdaq National
        Market
        (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Principal
        Market</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"))
        applicable to the Company or any of its Subsidiaries or by which any property
        or
        asset of the Company or any of its Subsidiaries is bound or affected, in
        any
        such case which is reasonably likely to result in a Material Adverse
        Effect.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Consents</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company is not required to obtain any consent, authorization or order of,
        or
        make any filing or registration with, any court, governmental agency or any
        regulatory or self-regulatory agency or any other Person in order for it
        to
        execute, deliver or perform any of its obligations under or contemplated
        by the
        Transaction Documents, in each case in accordance with the terms hereof or
        thereof. All consents, authorizations, orders, filings and registrations
        which
        the Company is required to obtain pursuant to the preceding sentence have
        been
        obtained or effected on or prior to the Closing Date, and the Company and
        its
        Subsidiaries are unaware of any facts or circumstances which might prevent
        the
        Company from obtaining or effecting any of the registration, application
        or
        filings pursuant to the preceding sentence. The Company is not in violation
        of
        the listing requirements of the Principal Market or the Australian Stock
        Exchange and has no knowledge of any facts which would reasonably lead to
        delisting or suspension of the ADRs or the Ordinary Shares in the foreseeable
        future.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(f)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Acknowledgment
        Regarding Buyer's Purchase of Securities</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company acknowledges and agrees that each Buyer is acting solely in the capacity
        of arm's length purchaser with respect to the Transaction Documents and the
        transactions contemplated hereby and thereby and that no Buyer is (i) an
        officer
        or director of the Company, (ii) an "affiliate" of the Company (as defined
        in
        Rule 144) or (iii) to the knowledge of the Company, a "beneficial owner"
        of more
        than 10% of the Ordinary Shares (as defined for purposes of Rule 13d-3 of
        the
        Securities Exchange Act of 1934, as amended (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>1934
        Act</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")).
        The
        Company further acknowledges that no Buyer is acting as a financial advisor
        or
        fiduciary of the Company (or in any similar capacity) with respect to the
        Transaction Documents and the transactions contemplated hereby and thereby,
        and
        any advice given by a Buyer or any of its representatives or agents in
        connection with the Transaction Documents and the transactions contemplated
        hereby and thereby is merely incidental to such Buyer's purchase of the
        Securities. The Company further represents to each Buyer that the Company's
        decision to enter into the Transaction Documents has been based solely on
        the
        independent evaluation by the Company and its representatives.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(g)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>No
        General Solicitation; Placement Agent's Fees</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Neither
        the Company, nor any of its affiliates, nor any Person acting on its or their
        behalf, has engaged in any form of general solicitation or general advertising
        (within the meaning of Regulation D) in connection with the offer or sale
        of the
        Securities. The Company shall be responsible for the payment of any placement
        agent's fees, financial advisory fees, or brokers' commissions relating to
        or
        arising out of its retention of any such Person in connection with the
        transactions contemplated hereby. The Company shall pay, and hold each Buyer
        harmless against, any liability, loss or expense (including, without limitation,
        attorney's fees and out-of-pocket expenses) arising in connection with any
        such
        claim. The Company acknowledges that it has engaged BIO-IB, LLC as advisor
        (the
        "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Advisor</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        in
        connection with the sale of the Securities. No Buyer shall have any obligation
        with respect to any claim by any Person for brokerage commission, finder&#8217;s fees
        or similar payments by the Company relating to this Agreement or the
        transactions contemplated hereby (</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>"Company
        Advisor Fees"</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">)
        or with
        respect to any claims made by or on behalf of other Persons for any Company
        Advisor Fees. The Company shall indemnify and hold harmless each Buyer and
        their
        respective employees, officers, directors, agents and partners and their
        respective affiliates, from and against all claims, losses, damages, costs
        (including the costs of preparation and attorney&#8217;s fees) and expenses suffered
        in respect of any such claimed or existing Company Advisor Fees, as and when
        incurred. </font></div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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        </div>
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      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(h)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>No
        Integrated Offering</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Except
        for the possibility that the PIPE Transaction (as hereinafter defined) would
        be
        so regarded, none of the Company, its Subsidiaries, any of their affiliates,
        and
        any Person acting on their behalf has, directly or indirectly, made any offers
        or sales of any security or solicited any offers to buy any security, under
        circumstances that would require registration of any of the Securities under
        the
        1933 Act or cause this offering of the Securities to be integrated with prior
        offerings by the Company for purposes of the 1933 Act or any other applicable
        regulatory provisions requiring stockholder approval, including, without
        limitation, under the rules and regulations of any exchange or automated
        quotation system on which any of the securities of the Company are listed
        or
        designated; </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>provided</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        that if
        the offering of the Securities would be required to be integrated with the
        PIPE
        transaction, such integration would not violate the 1933 Act or any other
        applicable regulatory provisions requiring stockholder approval, including,
        without limitation, under the rules and regulations of any exchange or automated
        quotation system on which any of the securities of the Company are listed
        or
        designated, but excluding the Shareholder Approval (as hereinafter defined).
        None of the Company, its Subsidiaries, their affiliates and any Person acting
        on
        their behalf will in the future take any action or steps referred to in the
        preceding sentence that would require registration of any of the Securities
        under the 1933 Act or cause the offering of the Securities to be integrated
        with
        other offerings.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Dilutive
        Effect</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company understands and acknowledges that the number of Conversion Shares
        issuable upon conversion of the Notes and the Warrant Shares issuable upon
        exercise of the Warrants will increase in certain circumstances. The Company
        further acknowledges that its obligation to issue Conversion Shares upon
        conversion of the Notes in accordance with this Agreement and the Notes and
        its
        obligation to issue the Warrant Shares upon exercise of the Warrants in
        accordance with this Agreement and the Warrants is, in each case, absolute
        and
        unconditional regardless of the dilutive effect that such issuance may have
        on
        the ownership interests of other stockholders of the Company.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(j)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Application
        of Takeover Protections; Rights Agreement</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company and its board of directors or other similar governing body have taken
        all necessary action, if any, in order to render inapplicable any control
        share
        acquisition, business combination, poison pill (including any distribution
        under
        a rights agreement) or other similar anti-takeover provision under the
        Certificate of Incorporation or the laws of any jurisdiction which is or
        could
        become applicable to any Buyer as a result of the transactions contemplated
        by
        this Agreement, including, without limitation, the Company's issuance of
        the
        Securities and any Buyer's ownership of the Securities. The Company has not
        adopted a stockholder rights plan or similar arrangement relating to
        accumulations of beneficial ownership of Ordinary Shares or a change in control
        of the Company</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(k)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>SEC
        and Australian Documents; Financial Statements</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Except
        as disclosed in </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Schedule
        3(k)</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        during
        the two (2) years prior to the date hereof, the Company has filed all reports,
        schedules, forms, statements and other documents required to be filed by
        it with
        the SEC and the ASX and the ASIC pursuant to the reporting requirements of
        the
        1934 Act and the </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Corporations
        Act 2001</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        (Cth),
        its Regulations and the ASX Listing Rules "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Australian
        Securities Laws</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        (all
        of the foregoing filed prior to the date hereof and all exhibits included
        therein and financial statements, notes and schedules thereto and documents
        incorporated by reference therein being hereinafter referred to as the
        "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SEC
        Documents</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">").
        The
        Company has delivered to the Buyers or their respective representatives true,
        correct and complete copies of the SEC Documents not available on the EDGAR
        system. As of their respective dates, the SEC Documents complied in all material
        respects with the requirements of the 1934 Act and the Australian Securities
        Laws and the rules and regulations of the SEC or the </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ASX
        </strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">promulgated
        thereunder applicable to the SEC Documents, and none of the SEC Documents,
        at
        the time they were filed with the SEC or the </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ASX</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        as
        applicable, contained any untrue statement of a material fact or omitted
        to
        state a material fact required to be stated therein or necessary in order
        to
        make the statements therein, in the light of the circumstances under which
        they
        were made, not misleading. As of their respective dates, the financial
        statements of the Company included in the SEC Documents complied as to form
        in
        all material respects with applicable accounting requirements and the published
        rules and regulations of the SEC and the </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ASX
        </strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">with
        respect thereto. Such financial statements have been prepared in accordance
        with
        generally accepted accounting principles, consistently applied, during the
        periods involved (except (i) as may be otherwise indicated in such financial
        statements or the notes thereto, or (ii) in the case of unaudited interim
        statements, to the extent they may exclude footnotes or may be condensed
        or
        summary statements) and fairly present in all material respects the financial
        position of the Company as of the dates thereof and the results of its
        operations and cash flows for the periods then ended (subject, in the case
        of
        unaudited statements, to normal year-end audit adjustments).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(l)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Absence
        of Certain Changes</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Except
        as disclosed in </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Schedule
        3(l)</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        since
        June 30, 2005, there has been no material adverse change and no material
        adverse
        development in the business, properties, operations, condition (financial
        or
        otherwise), results of operations or prospects of the Company. Except as
        disclosed in </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Schedule
        3(l)</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        since
        June 30, 2005, the Company has not (i) declared or paid any dividends, (ii)
        sold
        any assets, individually or in the aggregate, in excess of $100,000 outside
        of
        the ordinary course of business or (iii) had capital expenditures, individually
        or in the aggregate, in excess of $100,000. The Company has not taken any
        steps
        to seek protection pursuant to any bankruptcy law nor does the Company have
        any
        knowledge or reason to believe that its creditors intend to initiate involuntary
        bankruptcy proceedings or any actual knowledge of any fact which would
        reasonably lead a creditor to do so. The Company is not as of the date hereof,
        and after giving effect to the transactions contemplated hereby to occur
        at the
        applicable Closing, will not be Insolvent (as defined below). For purposes
        of
        this Section 3(l), "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Insolvent</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        (i) the present fair saleable value of the Company's assets is less than
        the
        amount required to pay the Company's total Indebtedness (as defined in Section
        3(s)), (ii) the Company is unable to pay its debts and liabilities,
        subordinated, contingent or otherwise, as such debts and liabilities become
        absolute and matured, (iii) the Company intends to incur or believes that
        it
        will incur debts that would be beyond its ability to pay as such debts mature
        or
        (iv) the Company has unreasonably small capital with which to conduct the
        business in which it is engaged as such business is now conducted and is
        proposed to be conducted.</font></div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
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        </div>
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      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(m)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Conduct
        of Business; Regulatory Permits</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Neither
        the Company nor its Subsidiaries is in violation of any term of or in default
        under its Certificate of Incorporation or their organizational charter,
        certificate of incorporation or other organizational documents or bylaws
        or
        other governing documents, respectively. Neither the Company nor any of its
        Subsidiaries is in violation of any judgment, decree or order or any statute,
        ordinance, rule or regulation applicable to the Company or its Subsidiaries,
        and
        neither the Company nor any of its Subsidiaries will conduct its business
        in
        violation of any of the foregoing, except for possible violations which would
        not, individually or in the aggregate, have a Material Adverse Effect. Since
        January 27, 2005, (i) the ADRs have been designated for quotation on the
        Principal Market, (ii) trading in the ADRs has not been suspended by the
        SEC,
        the ASIC, the ASX or the Principal Market, other than pursuant to the request
        of
        the Company, and (iii) the Company has received no communication, written
        or
        oral, from the SEC, the ASIC, the ASX or the Principal Market regarding the
        suspension or delisting of the ADRs from the Principal Market, other than
        pursuant to the request of the Company. The Company and its Subsidiaries
        possess
        all certificates, authorizations and permits issued by the appropriate federal,
        state, territory or foreign regulatory authorities necessary to conduct their
        respective businesses, except where the failure to possess such certificates,
        authorizations or permits would not have, individually or in the aggregate,
        a
        Material Adverse Effect, and neither the Company nor any such Subsidiary
        has
        received any notice of proceedings relating to the revocation or modification
        of
        any such certificate, authorization or permit.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(n)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Foreign
        Corrupt Practices</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Neither
        the Company, nor any of its Subsidiaries, nor any director, officer, agent,
        employee or other Person acting on behalf of the Company or any of its
        Subsidiaries has, in the course of its actions for, or on behalf of, the
        Company
        (i) used any corporate funds for any unlawful contribution, gift, entertainment
        or other unlawful expenses relating to political activity; (ii) made any
        direct
        or indirect unlawful payment to any foreign or domestic government official
        or
        employee from corporate funds; (iii) violated or is in violation of any
        applicable provision of the U.S. Foreign Corrupt Practices Act of 1977, as
        amended; or (iv) made any unlawful bribe, rebate, payoff, influence payment,
        kickback or other unlawful payment to any foreign or domestic government
        official or employee.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(o)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Sarbanes-Oxley
        Act</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company is in compliance with any and all applicable requirements of the
        Sarbanes-Oxley Act of 2002 that are effective as of the date hereof and
        applicable to it, and any and all applicable rules and regulations promulgated
        by the SEC thereunder that are effective as of the date hereof, except where
        such noncompliance would not have, individually or in the aggregate, a Material
        Adverse Effect.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(p)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Transactions
        With Affiliates</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Except
        as set forth in the SEC Documents filed at least ten days prior to the date
        hereof and other than as set forth on </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Schedule
        3(p)</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        as of
        the date hereof, none of the officers, directors or employees of the Company
        is
        presently a party to any transaction with the Company or any of its Subsidiaries
        (other than for ordinary course services as employees, officers or directors),
        including any contract, agreement or other arrangement providing for the
        furnishing of services to or by, providing for rental of real or personal
        property to or from, or otherwise requiring payments to or from any such
        officer, director or employee or, to the knowledge of the Company, any
        corporation, partnership, trust or other entity in which any such officer,
        director, or employee has a substantial interest or is an officer, director,
        trustee or partner.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(q)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Equity
        Capitalization</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        As of
        the date hereof, the Company has (i) 225,962,166 Ordinary Shares issued and
        outstanding and (ii) no preferred shares issued and outstanding. All of such
        outstanding shares have been, or upon issuance will be, validly issued and
        fully
        paid. Except as disclosed in </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Schedule
        3(q)</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">:
        (i)
        none of the Company's share capital is subject to preemptive rights or any
        other
        similar rights or any liens or encumbrances suffered or permitted by the
        Company; (ii) there are no outstanding options, warrants, scrip, rights to
        subscribe to, calls or commitments of any character whatsoever relating to,
        or
        securities or rights convertible into, or exercisable or exchangeable for,
        any
        share capital of the Company or any of its Subsidiaries, or contracts,
        commitments, understandings or arrangements by which the Company or any of
        its
        Subsidiaries is or may become bound to issue additional share capital of
        the
        Company or any of its Subsidiaries or options, warrants, scrip, rights to
        subscribe to, calls or commitments of any character whatsoever relating to,
        or
        securities or rights convertible into, or exercisable or exchangeable for,
        any
        share capital of the Company or any of its Subsidiaries; and (iii) there
        are no
        securities or instruments containing anti-dilution or similar provisions
        that
        will be triggered by the issuance of the Securities. Except as disclosed
        in
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Schedule
        3(q)</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        or in
        the materials referred to in </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Section
        3(k)</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        as of
        the date hereof: (i) there are no outstanding debt securities, notes, credit
        agreements, credit facilities or other agreements, documents or instruments
        evidencing Indebtedness (as defined in Section 3(s)) of the Company or any
        of
        its Subsidiaries or by which the Company or any of its Subsidiaries is or
        may
        become bound; (ii) there are no financing statements securing obligations
        in any
        material amounts, either singly or in the aggregate, filed in connection
        with
        the Company or any of its Subsidiaries; (iii) there are no agreements or
        arrangements under which the Company or any of its Subsidiaries is obligated
        to
        register the sale of any of their securities (including ADRs) under the 1933
        Act
        (except the Registration Rights Agreement); (iv) there are no outstanding
        securities or instruments of the Company or any of its Subsidiaries which
        contain any redemption or similar provisions, and there are no contracts,
        commitments, understandings or arrangements by which the Company or any of
        its
        Subsidiaries is or may become bound to redeem a security of the Company or
        any
        of its Subsidiaries; (v) the Company does not have any stock appreciation
        rights
        or "phantom stock" plans or agreements or any similar plan or agreement;
        and
        (vi) the Company and its Subsidiaries have no liabilities or obligations
        required to be disclosed in the SEC Documents but not so disclosed in the
        SEC
        Documents, other than those incurred in the ordinary course of the Company's
        or
        its Subsidiaries' respective businesses and which, individually or in the
        aggregate, do not or would not have a Material Adverse Effect. The Company
        has
        furnished to the Buyer true, correct and complete copies of the Company's
        Constitution as in effect on the date hereof (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Certificate
        of Incorporation</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        and
        the terms of all securities convertible into, or exercisable or exchangeable
        for, Ordinary Shares and the material rights of the holders thereof in respect
        thereto.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(r)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Indebtedness
        and Other Contracts</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Except
        as disclosed in </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Schedule
        3(r)</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        as of
        the date hereof, neither the Company nor any of its Subsidiaries (i) has
        any
        outstanding Indebtedness (as defined below), (ii) is a party to any contract,
        agreement or instrument, the violation of which, or default under which,
        by the
        other party(ies) to such contract, agreement or instrument would result in
        a
        Material Adverse Effect, (iii) is in violation of any term of or in default
        under any contract, agreement or instrument relating to any Indebtedness,
        except
        where such violations and defaults would not result, individually or in the
        aggregate, in a Material Adverse Effect, or (iv) is a party to any contract,
        agreement or instrument relating to any Indebtedness, the performance of
        which,
        in the judgment of the Company's officers, has or is expected to have a Material
        Adverse Effect. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Schedule
        3(r)</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        provides
        a detailed description of the material terms of any such outstanding
        Indebtedness. For purposes of this Agreement: (x) "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Indebtedness</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        of any
        Person means, without duplication (A) all indebtedness for borrowed money,
        (B)
        all obligations issued, undertaken or assumed as the deferred purchase price
        of
        property or services (other than trade payables entered into in the ordinary
        course of business), (C) all reimbursement or payment obligations with respect
        to letters of credit, surety bonds and other similar instruments, (D) all
        obligations evidenced by notes, bonds, debentures or similar instruments,
        including obligations so evidenced incurred in connection with the acquisition
        of property, assets or businesses, (E) all indebtedness created or arising
        under
        any conditional sale or other title retention agreement, or incurred as
        financing, in either case with respect to any property or assets acquired
        with
        the proceeds of such indebtedness (even though the rights and remedies of
        the
        seller or bank under such agreement in the event of default are limited to
        repossession or sale of such property), (F) all monetary obligations under
        any
        leasing or similar arrangement which, in connection with generally accepted
        accounting principles, consistently applied for the periods covered thereby,
        is
        classified as a capital lease, (G) all indebtedness referred to in clauses
        (A)
        through (F) above secured by (or for which the holder of such Indebtedness
        has
        an existing right, contingent or otherwise, to be secured by) any mortgage,
        lien, pledge, charge, security interest or other encumbrance upon or in any
        property or assets (including accounts and contract rights) owned by any
        Person,
        even though the Person which owns such assets or property has not assumed
        or
        become liable for the payment of such indebtedness, and (H) all Contingent
        Obligations in respect of indebtedness or obligations of others of the kinds
        referred to in clauses (A) through (G) above; (y) "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Contingent
        Obligation</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means,
        as to any Person, any direct or indirect liability, contingent or otherwise,
        of
        that Person with respect to any indebtedness, lease, dividend or other
        obligation of another Person if the primary purpose or intent of the Person
        incurring such liability, or the primary effect thereof, is to provide assurance
        to the obligee of such liability that such liability will be paid or discharged,
        or that any agreements relating thereto will be complied with, or that the
        holders of such liability will be protected (in whole or in part) against
        loss
        with respect thereto; and (z) "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Person</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        an individual, a limited liability company, a partnership, a joint venture,
        a
        corporation, a trust, an unincorporated organization and a government or
        any
        department or agency thereof or other entity of whatever nature.</font></div>
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      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(s)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Absence
        of Litigation</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        There
        is no action, suit, proceeding, inquiry or investigation before or by the
        Principal Market, any court, public board, government agency, self-regulatory
        organization or body pending or, to the knowledge of the Company, threatened
        against or affecting the Company, the Ordinary Shares or any of the Company's
        Subsidiaries or any of the Company's or the Company's Subsidiaries' officers
        or
        directors in their capacities as such, except as set forth in </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Schedule
        3(s)</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(t)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Insurance</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company and each of its Subsidiaries are insured by insurers of recognized
        financial responsibility against such losses and risks and in such amounts
        as
        management of the Company believes to be prudent and customary in the businesses
        in which the Company and its Subsidiaries are engaged. Neither the Company
        nor
        any such Subsidiary has been refused any insurance coverage sought or applied
        for and neither the Company nor any such Subsidiary has any reason to believe
        that it will not be able to renew its existing insurance coverage as and
        when
        such coverage expires or to obtain similar coverage from similar insurers
        as may
        be necessary to continue its business at a cost that would not have a Material
        Adverse Effect.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(u)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Employee
        Relations</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        Neither
        the Company nor any of its Subsidiaries is a party to any collective bargaining
        agreement or enterprise agreement or employs any member of a union or any
        employees subject to an award. The Company and its Subsidiaries believe that
        their relations with their employees are good. Except as set forth on
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Schedule
        3(u)</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        no
        executive officer of the Company or any of its Subsidiaries (as defined in
        Rule
        501(f) of the 1933 Act) has notified the Company or any such Subsidiary in
        writing that such officer intends to leave the Company or any such Subsidiary
        or
        otherwise terminate such officer's employment with the Company or any such
        Subsidiary. No executive officer of the Company or any of its Subsidiaries,
        to
        the knowledge of the Company or any such Subsidiary, is, or is now expected
        to
        be, in violation of any material term of any employment contract,
        confidentiality, disclosure or proprietary information agreement,
        non-competition agreement, or any other contract or agreement or any restrictive
        covenant, and the continued employment of each such executive officer does
        not
        subject the Company or any such Subsidiary to any liability with respect
        to any
        of the foregoing matters.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company and its Subsidiaries are in compliance with all United States and
        Australian federal, state, territory, local and foreign laws and regulations
        respecting labor, employment and employment practices and benefits, terms
        and
        conditions of employment and wages and hours, except where failure to be
        in
        compliance would not, either individually or in the aggregate, reasonably
        be
        expected to result in a Material Adverse Effect.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(v)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Title</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company and its Subsidiaries have good and marketable title in fee simple
        to all
        real property, and good and marketable title to all personal property, in
        each
        case owned by them which is material to the business of the Company and its
        Subsidiaries, in each case free and clear of all liens, encumbrances and
        defects
        except where failure to have such good and marketable title would not, either
        individually or in the aggregate, reasonably be expected to result in a Material
        Adverse Effect. Any real property and facilities held under lease by the
        Company
        and any of its Subsidiaries are held by them under valid, subsisting and
        enforceable leases with such exceptions as are not material and do not interfere
        with the use made and proposed to be made of such property and buildings
        by the
        Company and its Subsidiaries except where failure to so hold would not, either
        individually or in the aggregate, reasonably be expected to result in a Material
        Adverse Effect.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(w)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Intellectual
        Property Rights</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company and its Subsidiaries own or possess adequate rights or licenses to
        use
        all material trademarks, trade names, service marks, service mark registrations,
        service names, patents, patent rights, copyrights, inventions, licenses,
        approvals, governmental authorizations, trade secrets and other intellectual
        property rights ("</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Intellectual
        Property Rights</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        necessary to conduct their respective businesses as now conducted except
        where
        failure to so own or possess would not, either individually or in the aggregate,
        reasonably be expected to result in a Material Adverse Effect. Except as
        set
        forth in </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Schedule
        3(w)</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        none of
        the Company's material Intellectual Property Rights have expired or terminated,
        or are expected to expire or terminate, within three years from the date
        of this
        Agreement. The Company does not have any knowledge of any infringement by
        the
        Company or its Subsidiaries of Intellectual Property Rights of others. There
        is
        no claim, action or proceeding pending, or to the knowledge of the Company,
        threatened, against the Company or its Subsidiaries regarding its Intellectual
        Property Rights. The Company is unaware of any facts or circumstances which
        could reasonably be expected to give rise to any of the foregoing infringements
        or claims, actions or proceedings. The Company and its Subsidiaries have
        taken
        reasonable security measures to protect the secrecy, confidentiality and
        value
        of all of their intellectual properties.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(x)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Environmental
        Laws</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company and its Subsidiaries (i) are in compliance with any and all material
        Environmental Laws (as hereinafter defined), (ii) have received all permits,
        licenses or other approvals required of them under applicable Environmental
        Laws
        to conduct their respective businesses and (iii) are in compliance with all
        terms and conditions of any such permit, license or approval where, in each
        of
        the foregoing clauses (i), (ii) and (iii), the failure to so comply or receive
        could be reasonably expected to have, individually or in the aggregate, a
        Material Adverse Effect. The term "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Environmental
        Laws</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        all Australian and United States federal, state, territory, local or foreign
        laws relating to pollution or protection of human health or the environment
        (including, without limitation, ambient air, surface water, groundwater,
        land
        surface or subsurface strata), including, without limitation, laws relating
        to
        emissions, discharges, releases or threatened releases of chemicals, pollutants,
        contaminants, or toxic or hazardous substances or wastes (collectively,
        "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Hazardous
        Materials</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">into
        the
        environment, or otherwise relating to the manufacture, processing, distribution,
        use, treatment, storage, disposal, transport or handling of Hazardous Materials,
        as well as all authorizations, codes, decrees, demands or demand letters,
        injunctions, judgments, licenses, notices or notice letters, orders, permits,
        plans or regulations issued, entered, promulgated or approved
        thereunder.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(y)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Subsidiary
        Rights</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Except
        as set forth in </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Schedule
        3(y)</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        or the
        materials described in </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Section
        3(k)</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        the
        Company or one of its Subsidiaries has the unrestricted right to vote, and
        (subject to limitations imposed by applicable law) to receive dividends and
        distributions on, all capital securities of its Subsidiaries as owned by
        the
        Company or such Subsidiary.</font></div>
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      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(z)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Investment
        Company</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company is not an "investment company" within the meaning of the Investment
        Company Act of 1940, as amended.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(aa)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Tax
        Status</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company and each of its Subsidiaries (i) has made or filed all federal and
        all
        material, state, foreign and territory income and all other tax returns,
        reports
        and declarations required by any jurisdiction to which it is subject, (ii)
        has
        paid all taxes and other governmental assessments and charges that are material
        in amount, shown or determined to be due on such returns, reports and
        declarations, except those being contested in good faith and for which adequate
        reserves have been made and (iii) has set aside on its books provision
        reasonably adequate for the payment of all taxes for periods subsequent to
        the
        periods to which such returns, reports or declarations apply. There are no
        unpaid taxes in any material amount claimed to be due by the taxing authority
        of
        any jurisdiction, and the officers of the Company know of no basis for any
        such
        claim.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(bb)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Internal
        Accounting Controls</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company and each of its Subsidiaries maintain a system of internal accounting
        controls sufficient to provide reasonable assurance that (i) transactions
        are
        executed in accordance with management's general or specific authorizations,
        (ii) transactions are recorded as necessary to permit preparation of financial
        statements in conformity with generally accepted accounting principles and
        to
        maintain asset and liability accountability, (iii) access to assets or
        incurrence of liabilities is permitted only in accordance with management's
        general or specific authorization and (iv) the recorded accountability for
        assets and liabilities is compared with the existing assets and liabilities
        at
        reasonable intervals and appropriate action is taken with respect to any
        difference.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(cc)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Ranking
        of Notes</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Except
        for Permitted Senior Indebtedness (as defined in the Notes), no Indebtedness
        of
        the Company is senior to the Notes in right of payment, whether with respect
        of
        payment of redemptions, interest, damages or upon liquidation or dissolution
        or
        otherwise.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(dd)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Manipulation
        of Price</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company has not, and to its knowledge no one acting on its behalf has, (i)
        taken, directly or indirectly, any action designed to cause or to result
        in the
        stabilization or manipulation of the price of any security of the Company
        to
        facilitate the sale or resale of any of the Securities, (ii) other than the
        Advisor, sold, bid for, purchased, or paid any compensation for soliciting
        purchases of, any of the Securities, or (iii) other than the Advisor or in
        connection with the PIPE Transaction, paid or agreed to pay to any Person
        any
        compensation for soliciting another to purchase any other securities of the
        Company.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ee)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Disclosure</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Other
        than with respect to the acquisition expected to be agreed to on or prior
        to the
        date hereof or in the near future, all as has previously been disclosed to
        the
        Buyers (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Acquisition</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        the
        Company confirms that neither it nor any other Person acting on its behalf
        has
        provided any of the Buyers or their agents or counsel with any information
        that
        constitutes or could reasonably be expected to constitute material, nonpublic
        information. The Company understands and confirms that each of the Buyers
        will
        rely on the foregoing representations in effecting transactions in securities
        of
        the Company. All disclosure provided to the Buyers regarding the Company,
        its
        business and the transactions contemplated hereby, including the Schedules
        to
        this Agreement, furnished by or on behalf of the Company and its Subsidiaries
        taken as a whole is true and correct in all material respects and does not
        contain any untrue statement of a material fact or omit to state any material
        fact necessary in order to make the statements made therein, in the light
        of the
        circumstances under which they were made, not misleading. Except with respect
        to
        the Acquisition, no event or circumstance has occurred or information exists
        with respect to the Company or any of its Subsidiaries or its or their business,
        properties, prospects, operations or financial conditions, which, under
        applicable law, rule or regulation, requires public disclosure or announcement
        by the Company but which has not been so publicly announced or disclosed.
        </font></div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
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        </div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ff)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Securities
        Available for Issuance</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        As of
        the date hereof, the Company has all necessary power and authority in accordance
        with the rules and regulations of the ASX (including ASX Listing Rule 7.1)
        to
        issue as of the date hereof, if the Notes were to be converted in full on
        the
        date hereof, two-thirds of the Conversion Shares issuable upon conversion
        in
        full of the Notes.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>COVENANTS.</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Best
        Efforts</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Each
        party shall use its best efforts timely to satisfy each of the conditions
        to be
        satisfied by it as provided in Sections 6 and 7 of this Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Form
        D
        and Blue Sky</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company agrees to file a Form D with respect to the Securities as required
        under
        Regulation D and to provide a copy thereof to each Buyer promptly after such
        filing. The Company shall, on or before the Closing Date, take such action
        as
        the Company shall reasonably determine is necessary in order to obtain an
        exemption for or to qualify the Securities for sale to the Buyers at the
        Closing
        pursuant to this Agreement under applicable securities or "Blue Sky" laws
        of the
        states of the United States (or to obtain an exemption from such qualification),
        and shall provide evidence of any such action so taken to the Buyers on or
        prior
        to the Closing Date. The Company shall make all filings and reports relating
        to
        the offer and sale of the Securities required under applicable securities
        or
        "Blue Sky" laws of the states of the United States and the applicable Australian
        Securities Laws following the Closing Date. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Reporting
        Status</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Until
        the date on which the Investors (as defined in the Registration Rights
        Agreement) shall have sold all the Conversion Shares, Interest Shares and
        Warrant Shares</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">and
        none
        of the Notes</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">or</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Warrants
        is outstanding (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Reporting
        Period</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        the
        Company shall file all reports required to be filed with the SEC pursuant
        to the
        1934 Act and all reports required to be filed with ASIC and the ASX pursuant
        to
        the Australian Securities Laws, and the Company shall not terminate its status
        as a foreign private issuer required to file reports under the 1934 Act even
        if
        the 1934 Act, the rules and regulations thereunder or the Australian Securities
        Laws would otherwise permit such termination, except to the extent (i) the
        Company is redomiciled (whether through merger or otherwise) into the United
        States or (ii) a successor to the Company replaces the Company as a foreign
        private issuer under United States securities laws and, in either case, the
        securities of such successor are listed on an Eligible Market (as defined
        in the
        Notes).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          </div>
        </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
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          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Use
        of
        Proceeds</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company will use the proceeds from the sale of the Securities for general
        corporate purposes and not for the (i) repayment of any other outstanding
        Indebtedness of the Company or any of its Subsidiaries except Permitted
        Indebtedness (other than Permitted Senior Indebtedness) or (ii) redemption
        or
        repurchase of any of its or its Subsidiaries' equity securities.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Financial
        Information</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company agrees to send the following to each Investor (as defined in the
        Registration Rights Agreement) during the Reporting Period unless the following
        are filed with the SEC through EDGAR and are available to the public through
        the
        EDGAR system, (i) within two (2) Business Days after the filing thereof with
        the
        SEC, a copy of its Annual Report (on Form 20-F, or such other form as may
        be
        available, in the United States), quarterly financial statements and any
        other
        current reports on Form 6-K in the United States and any registration statements
        (other than on Form S-8) or amendments filed pursuant to the 1933 Act, (ii)
        within one (1) Business Day of the release thereof, facsimile or e-mailed
        copies
        of all material press releases issued by the Company or any of its Subsidiaries,
        and (iii) copies of any notices and other information made available or given
        to
        the stockholders of the Company generally, contemporaneously with the making
        available or giving thereof to the stockholders. As used herein, "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Business
        Day</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        any day other than Saturday, Sunday or other day on which commercial banks
        in
        The City of New York, State of New York, U.S.A. or Perth, Australia are
        authorized or required by law to remain closed.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(f)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Listing</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company shall promptly secure the listing of all of the Registrable Securities
        (as defined in the Registration Rights Agreement) upon each national securities
        exchange and automated quotation system, if any, upon which the ADRs are
        then
        listed (subject to official notice of issuance) and shall maintain such listing
        of all Registrable Securities from time to time issuable under the terms
        of the
        Transaction Documents. The Company shall maintain the ADRs' authorization
        for
        listing on the Principal Market, except to the extent that the Company or
        a
        successor has common stock listed on an Eligible Market. Neither the Company
        nor
        any of its Subsidiaries shall take any action which would be reasonably expected
        to result in the delisting or suspension of the ADRs on the Principal Market,
        except to the extent that the Company or a successor has common stock listed
        on
        an Eligible Market. The Company shall pay all fees and expenses in connection
        with satisfying its obligations under this Section 4(f).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(g)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Fees</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Subject
        to Section 8 below, at the Closing, the Company shall pay an expense allowance
        to Castlerigg Master Investments Ltd. (a Buyer) or its designee(s) (in addition
        to any other expense amounts paid to any Buyer prior to the date of this
        Agreement) in an amount not to exceed $25,000 (in addition to any other expense
        amounts paid to any Buyer prior to the date of this Agreement), which amount
        shall be withheld by such Buyer from its Purchase Price at the Closing. The
        Company shall be responsible for the payment of any placement agent's fees,
        financial advisory fees, or broker's commissions (other than for Persons
        engaged
        by any Buyer) relating to or arising out of the transactions contemplated
        hereby, including, without limitation, any fees or commissions payable to
        the
        Advisor. The Company shall pay, and hold each Buyer harmless against, any
        liability, loss or expense (including, without limitation, reasonable attorney's
        fees and out-of-pocket expenses) arising in connection with any claim relating
        to any such payment. Except as otherwise set forth in the Transaction Documents,
        each party to this Agreement shall bear its own expenses in connection with
        the
        sale of the Securities to the Buyers.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(h)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Pledge
        of Securities</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company acknowledges and agrees that the Securities may be pledged by an
        Investor (as defined in the Registration Rights Agreement) in connection
        with a
        bona fide margin agreement or other loan or financing arrangement that is
        secured by the Securities, to the extent permitted by Applicable Law. The
        pledge
        of Securities shall not be deemed to be a transfer, sale or assignment of
        the
        Securities hereunder, and no Investor effecting such a pledge of Securities
        shall be required to provide the Company with any notice thereof or otherwise
        make any delivery to the Company pursuant to this Agreement or any other
        Transaction Document, including, without limitation, Section 2(f) hereof;
        provided that an Investor and its pledgee shall be required to comply with
        the
        provisions of Section 2(f) hereof in order to effect a sale, transfer or
        assignment of Securities to such pledgee. The Company hereby agrees to execute
        and deliver such documentation as a pledgee of the Securities may reasonably
        request in connection with a pledge of the Securities to such pledgee by
        an
        Investor; provided that the Company shall not be required to agree to any
        further obligation or potential liability, or incur any costs or expenses,
        beyond those which are as set forth herein.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Disclosure
        of Transactions and Other Material Information</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        On or
        before 8:30 a.m. New York time, on October 12, 2005, the Company shall file
        a
        Current Report on Form 6-K describing (i) the terms of the transactions
        contemplated by the Transaction Documents and (ii) the Acquisition (along
        with
        any material information regarding the Acquisition previously disclosed to
        any
        Buyer in the form required by the 1934 Act and attaching the material
        Transaction Documents (including, without limitation, this Agreement (other
        than
        the schedules to this Agreement), the form of Notes, the form of Warrant
        and the
        form of Registration Rights Agreement) as exhibits to such submission (such
        submission including all attachments, the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>6-K
        Filing</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">").
        From
        and after the submission of the 6-K Filing with the SEC, no Buyer shall be
        in
        possession of any material, nonpublic information received from the Company,
        any
        of its Subsidiaries or any of its respective officers, directors, employees
        or
        agents, that is not disclosed in the 6-K Filing or in some other public filing
        or public disclosure. The Company shall not, and shall cause each of its
        Subsidiaries and its and each of their respective officers, directors, employees
        and agents, not to, provide any Buyer with any material, nonpublic information
        regarding the Company or any of its Subsidiaries from and after the filing
        of
        the 6-K Filing with the SEC without the express written consent of such Buyer.
        In the event of a breach of the foregoing covenant by the Company, any of
        its
        Subsidiaries, or any of its or their respective officers, directors, employees
        and agents, in addition to any other remedy provided herein or in the
        Transaction Documents, a Buyer shall have the right to require the Company
        to
        make promptly a public disclosure, in the form of a press release, public
        advertisement or otherwise, of such material, nonpublic information. Subject
        to
        the foregoing, neither the Company, its Subsidiaries nor any Buyer shall
        issue
        any press releases or any other public statements with respect to the
        transactions contemplated hereby; </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>provided</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>however</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        that
        the Company shall be entitled, without the prior approval of any Buyer, to
        make
        any press release or other public disclosure with respect to such transactions
        (i) in substantial conformity with the 6-K Filing and contemporaneously
        therewith and (ii) as is required by applicable law and regulations (provided
        that in the case of clause (i) each Buyer shall be consulted by the Company
        in
        connection with any such press release or other public disclosure prior to
        its
        release).</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(j)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Additional
        Registration Statements</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Other
        than in connection with the ADRs to be issued relating to the Acquisition
        and
        the ADRs issued in connection with the PIPE transaction announced by the
        company
        on Form 6-K on August 24, 2005 (the </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>"PIPE
        Transaction"</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">),
        until
        the date that the Registration Statement (as defined in the Registration
        Rights
        Agreement) is first declared effective by the SEC (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Effective
        Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        the
        Company shall not file a registration statement under the 1933 Act relating
        to
        securities that do not include the Securities (other than on Form
        S-8).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(k)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Additional
        Notes; Variable Securities; Dilutive Issuances</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        So long
        as any Buyer beneficially owns any Securities, the Company will not issue
        any
        Notes other than to the Buyers as contemplated hereby and the Company shall
        not
        issue any other securities that would cause a breach or default under the
        Notes.
        For so long as any Notes or Warrants remain outstanding, the Company shall
        not,
        in any manner, issue or sell any rights, warrants or options to subscribe
        for or
        purchase Ordinary Shares or directly or indirectly convertible into or
        exchangeable or exercisable for Ordinary Shares at a price which varies or
        may
        vary with the market price of the ADRs, including by way of one or more reset(s)
        to any fixed price unless the conversion, exchange or exercise price of any
        such
        security cannot be less than the then applicable Conversion Price (as defined
        in
        the Notes) with respect to the Ordinary Shares into which any Note is
        convertible or the then applicable Exercise Price (as defined in the Warrants)
        with respect to the Ordinary Shares into which any Warrant is exercisable.
        For
        so long as any Notes or Warrants remain outstanding, the Company shall not,
        in
        any manner, enter into or affect any Dilutive Issuance (as defined in the
        Notes)
        if the effect of such Dilutive Issuance is to cause the Company to be required
        to issue upon conversion of any Note or exercise of any Warrant any Ordinary
        Shares in excess of that number of Ordinary Shares which the Company may
        issue
        upon conversion of the Notes and exercise of the Warrants without breaching
        the
        Company's obligations under the rules or regulations of the Principal Market.
        </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(l)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Corporate
        Existence</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        So long
        as any Buyer beneficially owns any Notes or Warrants, the Company shall not
        be
        party to any Fundamental Transaction (as defined in the Notes) unless the
        Company is in compliance with the applicable provisions governing Fundamental
        Transactions set forth in the Notes and the Warrants.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(m)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Conduct
        of Business</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        business of the Company and its Subsidiaries shall not be conducted in violation
        of any law, ordinance or regulation of any governmental entity, except where
        such violations would not result, either individually or in the aggregate,
        in a
        Material Adverse Effect.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(n)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Additional
        Issuances of Securities</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For
        purposes of this Section 4(p), the following definitions shall
        apply.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(A)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Convertible
        Securities</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        any stock or securities (other than Options) convertible into or exercisable
        or
        exchangeable for Ordinary Shares.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(B)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Options</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        any rights, warrants or options to subscribe for or purchase Ordinary Shares
        or
        Convertible Securities.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(C)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Ordinary
        Share Equivalents</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means,
        collectively, Options and Convertible Securities.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Except
        with respect to the Acquisition and the PIPE Transaction, from the date hereof
        until the date that is 90 Trading Days (as defined in the Notes) following
        the
        Effective Date (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Trigger
        Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        the
        Company will not, directly or indirectly, offer, sell, issue, allot, grant
        any
        option to purchase, or otherwise dispose of (or announce any offer, sale,
        grant
        or any option to purchase or other disposition of) any of its or its
        Subsidiaries' equity or equity equivalent securities, including without
        limitation any debt, preferred stock or other instrument or security that
        is, at
        any time during its life and under any circumstances, convertible into or
        exchangeable or exercisable for Ordinary Shares or Ordinary Share Equivalents
        (any such offer, sale, grant, disposition or announcement being referred
        to as a
        "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Subsequent
        Placement</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">").</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iii)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Subject
        to applicable law, from the Trigger Date until the two year anniversary of
        the
        Closing Date, the Company will not, directly or indirectly, effect any
        Subsequent Placement unless the Company shall have first complied with this
        Section 4(n)(iii).</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(A)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall deliver to each Buyer a written notice (the&#160;"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Offer
        Notice</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        of any
        proposed or intended issuance or sale or exchange (the&#160;"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Offer</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        of the
        securities being offered (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Offered
        Securities</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        in a
        Subsequent Placement, which Offer Notice shall (w) identify and describe
        the
        Offered Securities, (x)&#160;describe, if known, the price and other terms
        upon
        which they are to be issued, sold or exchanged, and the number or amount
        of the
        Offered Securities to be issued, sold or exchanged, (y)&#160;identify the
        Persons (if known) to which or with which the Offered Securities are to be
        offered, issued, sold or exchanged and (z) offer to issue and sell to or
        exchange with such Buyers a pro rata portion of 50% of the Offered Securities
        allocated among such Buyers (a) based on such Buyer's pro rata portion of
        the
        aggregate principal amount of Notes purchased hereunder (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Basic
        Amount</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        and
        (b) with respect to each Buyer that elects to purchase its Basic Amount,
        any
        additional portion of the Offered Securities attributable to the Basic Amounts
        of other Buyers as such Buyer shall indicate it will purchase or acquire
        should
        the other Buyers subscribe for less than their Basic Amounts (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Undersubscription
        Amount</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">").</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(B)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
        accept
        an Offer, in whole or in part, such Buyer must deliver a written notice to
        the
        Company prior to the end of the tenth (10</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>th</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">)
        Business Day after such Buyer's receipt of the Offer Notice (or in the case
        such
        Offer relates to an offering in excess of US$10 million for Ordinary Shares
        that
        is being offered primarily to investors outside the United States, prior
        to the
        end of the second (2nd) Business Day after such Buyer's receipt of the Offer
        Notice) (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Offer
        Period</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        setting forth the portion of such Buyer's Basic Amount that such Buyer elects
        to
        purchase and, if such Buyer shall elect to purchase all of its Basic Amount,
        the
        Undersubscription Amount, if any, that such Buyer elects to purchase (in
        either
        case, the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Notice
        of Acceptance</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">").
        If
        the Basic Amounts subscribed for by all Buyers are less than the total of
        all of
        the Basic Amounts, then each Buyer who has set forth an Undersubscription
        Amount
        in its Notice of Acceptance shall be entitled to purchase, in addition to
        the
        Basic Amounts subscribed for, the Undersubscription Amount it has subscribed
        for; </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>provided</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>however</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        that if
        the Undersubscription Amounts subscribed for exceed the difference between
        the
        total of all the Basic Amounts and the Basic Amounts subscribed for (the
        "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Available
        Undersubscription Amount</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        each
        Buyer who has subscribed for any Undersubscription Amount shall be entitled
        to
        purchase only that portion of the Available Undersubscription Amount as the
        Basic Amount of such Buyer bears to the total Basic Amounts of all Buyers
        that
        have subscribed for Undersubscription Amounts, subject to rounding by the
        Company to the extent its deems reasonably necessary.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
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          </div>
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      </div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(C)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall have twenty (20) Business Days from the expiration of the Offer
        Period above to offer, issue, sell or exchange all or any part of such Offered
        Securities as to which a Notice of Acceptance has not been given by the Buyers
        (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Refused
        Securities</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        but
        only to the offerees described in the Offer Notice (if so described therein)
        and
        only upon terms and conditions (including, without limitation, unit prices
        and
        interest rates) that are not more favorable to the acquiring Person or Persons
        or less favorable to the Company than those set forth in the Offer
        Notice.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(D)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
        the
        event the Company shall propose to sell less than all the Refused Securities
        (any such sale to be in the manner and on the terms specified in Section
        4(p)(iii)(C) above), then each Buyer may, at its sole option and in its sole
        discretion, reduce the number or amount of the Offered Securities specified
        in
        its Notice of Acceptance to an amount that shall be not less than the number
        or
        amount of the Offered Securities that such Buyer elected to purchase pursuant
        to
        Section 4(n)(iii)(B) above multiplied by a fraction, (i) the numerator of
        which
        shall be the number or amount of Offered Securities the Company actually
        proposes to issue, sell or exchange (including Offered Securities to be issued
        or sold to Buyers pursuant to Section 4(n)(iii)(C) above prior to such
        reduction) and (ii) the denominator of which shall be the original amount
        of the
        Offered Securities. In the event that any Buyer so elects to reduce the number
        or amount of Offered Securities specified in its Notice of Acceptance, the
        Company may not issue, sell or exchange more than the reduced number or amount
        of the Offered Securities unless and until such securities have again been
        offered to the Buyers in accordance with Section 4(n)(iii)(A)
        above.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(E)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Upon
        the
        closing of the issuance, sale or exchange of all or less than all of the
        Refused
        Securities, the Buyers shall acquire from the Company, and the Company shall
        issue to the Buyers, the number or amount of Offered Securities specified
        in the
        Notices of Acceptance, as reduced pursuant to Section 4(p)(iii)(C) above
        if the
        Buyers have so elected, upon the terms and conditions specified in the Offer.
        The purchase by the Buyers of any Offered Securities is subject in all cases
        to
        the preparation, execution and delivery by the Company and the Buyers of
        a
        purchase agreement relating to such Offered Securities reasonably satisfactory
        in form and substance to the Buyers and their respective counsel.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          </div>
        </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(F)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any
        Offered Securities not acquired by the Buyers or other Persons in accordance
        with Section 4(p)(iii)(C) above may not be issued, sold or exchanged until
        they
        are again offered to the Buyers under the procedures specified in this
        Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iv)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notwithstanding
        the foregoing the restrictions contained in subsections (ii) and (iii) of
        this
        Section 4(n) shall not apply in connection with the issuance of any Excluded
        Securities (as defined in the Notes) or with respect to any securities of
        AION
        Diagnostics.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(o)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Tax
        Adjustments</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All
        payments (including issuance of Interest Shares) by the Company to any Buyer
        (including, for the purposes of this Section 4(o), their respective assignees)
        in regard or in connection with its ownership of the Notes, the issuance
        of
        Interest Shares and the conversion of the Notes into stock shall be made
        free
        and clear of and without deduction for any present or future taxes, levies,
        imposts, deductions, charges or withholdings, and all liabilities with respect
        thereto; excluding, however, the following: taxes based on or measured by
        the
        net income of a Buyer by the jurisdiction of Buyer's applicable lending office
        or any political subdivision thereof and taxes imposed on a Buyer by reason
        of
        its being connected with the Commonwealth of Australia or any state or territory
        thereof otherwise than as a result of such Buyer's activity in connection
        with
        the acquiring of the Securities or by such Buyer's mere holding of the
        Securities (all such non-excluded taxes, levies, imposts, deductions, charges
        or
        withholdings and all liabilities with respect thereto, "Taxes"). </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
        the
        event that any withholding or deduction from any payment to be made by the
        Company under the Notes or from the issuance of any Interest Shares or upon
        the
        conversion of the Notes into stock is required in respect of any Taxes, then
        the
        Company shall promptly:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(A)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">pay
        directly to the relevant authority the full amount required to be so withheld
        or
        deducted;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(B)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(but
        in
        any event within 30 days) forward to such Buyer an official receipt or other
        documentation satisfactory to such Buyer evidencing such payment to such
        authority; and</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(C)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">pay
        to
        such Buyer such additional amount or amounts as is necessary to ensure that
        the
        net amount actually received by such Buyer will equal the full amount such
        Buyer
        would have received had no such withholding or deduction been
        required;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
        the
        Company fails to pay any Taxes when due to the appropriate taxing authority
        or
        fails to remit to such Buyer the required receipts or other required documentary
        evidence, the Company shall indemnify such Buyer for any incremental Taxes,
        interest, penalties, expenses and costs that may become payable or are incurred
        by such Buyer as a result of any such failure. Such indemnification shall
        be
        paid within 10 days from the date on which Buyer makes written demand therefore
        specifying in reasonable detail the nature and amount of such Taxes and other
        costs.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
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          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iii)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall not set off or deduct any sum from any payment due under this
        Agreement whether in respect of any claim, counterclaim, right of set-off
        or
        otherwise howsoever.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(p)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Shareholder
        Approval</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company shall hold a special or annual meeting of shareholders of the Company
        (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Shareholder
        Meeting</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        which
        shall be promptly called and held not later than December 1, 2005 (the
        "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Shareholder
        Meeting Deadline</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        seeking such shareholder approval of resolutions providing for the Company's
        issuance of all of the Securities (including resolutions in accordance with
        ASX
        Listing Rule 7.1) in accordance with the rules of the Principal Market and
        Australian Securities Law in connection with (i) the transactions contemplated
        by this Agreement and (ii) the Acquisition (such approval being referred
        to
        herein as the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Shareholder
        Approval</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">",
        and
        the date of such approval, the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Shareholder
        Approval Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        and
        the Company shall solicit its shareholders' approval of such resolutions
        and
        recommend to the shareholders that they approve such resolutions. The Company
        shall be obligated to seek to obtain the Shareholder Approval by the Shareholder
        Meeting Deadline. If the Shareholder Approval is not obtained on or prior
        to the
        Shareholder Meeting Deadline and the Buyers do not elect to deem the failure
        to
        obtain the Shareholder Approval a breach of this covenant (in their sole
        discretion), the Company shall cause two (2) additional Shareholder Meetings
        to
        be held every six months thereafter until such Shareholder Approval is obtained.
        For the purpose of preparing the notices calling the Shareholder Meeting,
        each
        Buyer shall provide to the Company, upon reasonable request by the Company,
        such
        information about the Buyer that is required to be disclosed to the shareholders
        of the Company in accordance with the Australian Securities Laws, and which
        the
        Company cannot otherwise obtain from publicly available sources. Notwithstanding
        any other provision in this Agreement, in the event that the Company fails
        to
        obtain the Shareholder Approval on or prior to the Closing Date and the Buyers
        elect to proceed with Closing, the Company will issue to the Buyers at the
        option of each Buyer, on Closing, a convertible note and warrants on the
        same
        terms and conditions as the Note and the Warrants but for a principal value
        (in
        the case of the Note) elected by such Buyer and for such number of Warrant
        Shares (in the case of the Warrants) elected by such Buyer, pro-rata, that
        would
        result, on conversion of the convertible note and exercise of the warrant
        (and,
        if the ASX determines, on the issue of any Interest Shares), in the issue
        of not
        more than the maximum number of shares able to be issued by the Company without
        it breaching ASX Listing Rule 7.1 and any applicable rules of the Principal
        Market. From time to time, as soon as either (i) the Company obtains the
        Shareholder Approval, or (ii) the Company is otherwise able to issue additional
        shares without breaching ASX Listing Rule 7.1 and any applicable rules of
        the
        Principal Market, the Company must issue to each Buyer at the request of
        such
        Buyer an additional convertible note and additional warrants ("</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Additional
        Securities</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        on the
        same terms and conditions as the Note and the Warrants but for a principal
        value
        (in the case of the convertible note) and for such number of Warrant Shares
        (in
        the case of the warrants), pro-rata, equal to an amount not in excess of
        the
        lesser of (i) the value or amount that would result, on conversion of the
        convertible note and exercise of the warrant, in the issue of the maximum
        number
        of shares able to be issued by the Company without it breaching ASX Listing
        Rule
        7.1 , any applicable rules of the Principal Market and any provision of the
        Corporations Act; or (ii) the value equal to the total face value of each
        of the
        Note and Warrant that would have been required to have been issued under
        Section
        1(a) if Shareholder Approval has been obtained, less the value of any notes
        or
        warrants already issued to the Buyers under this Section 4(p). In connection
        with each issuance of Additional Securities, the Company shall file additional
        registration statements in accordance with the terms of the Registration
        Rights
        Agreement (with the Effectiveness Deadline being 180 days after the issuance
        of
        any such Registrable Securities) registering the sale of all securities
        underlying any Additional Securities received by any Buyer pursuant to this
        Section 4(p) not previously included in a registration statement in accordance
        with the terms of the Registration Rights Agreement. From and after the date
        hereof, the Company must not issue any Securities that would prevent it from
        issuing Notes and Warrants to any of the Buyers under this Section 4(p) until
        the Buyers have received notes with a face value equal to the face value
        of
        Notes that would have been required to have been issued under Section 1(a)
        if
        Shareholder Approval had been obtained and such number of warrants equal
        to the
        number of Warrants that would have been required to have been issued under
        Section 1(a) if Shareholder Approval had been obtained.</font></div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
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          </div>
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      </div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>REGISTER;
        TRANSFER AGENT INSTRUCTIONS</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Register</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company shall maintain at its principal executive offices (or such other
        office
        or agency of the Company as it may designate by notice to each holder of
        Notes
        or Warrants), a register for the Notes and the Warrants, in which the Company
        shall record the name and address of the Person in whose name the
        Notes</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">and
        the
        Warrants have been issued (including the name and address of each transferee),
        the principal amount of the Notes or Notes held by such Person and the number
        of
        Warrant Shares issuable upon exercise of the Warrants held by such Person.
        The
        Company shall keep the register open and available during business hours
        for
        inspection by any Buyer or its legal representatives upon prior written
        notice.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Transfer
        Agent Instructions</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company shall issue irrevocable instructions to its transfer agent, and any
        subsequent transfer agent, to issue certificates or credit shares to the
        applicable balance accounts at The Depository Trust Company ("</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>DTC</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        registered in the name of each Buyer or its respective nominee(s), for the
        Conversion Shares, the Interest Shares, if any, and the Warrant
        Shares</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">in
        such
        amounts as specified from time to time by each Buyer to the Company upon
        conversion of the Notes or exercise of the Warrants in the form of </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Exhibit
        D</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        attached
        hereto (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Irrevocable
        Transfer Agent Instructions</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">").
        The
        Company warrants that no instruction other than the Irrevocable Transfer
        Agent
        Instructions referred to in this Section 5(b), and stop transfer instructions
        to
        give effect to Section 2(g) hereof, will be given by the Company to its transfer
        agent with respect to the Securities, and that the Securities shall otherwise
        be
        freely transferable on the books and records of the Company as and to the
        extent
        provided in this Agreement and the other Transaction Documents. If a Buyer
        effects a sale, assignment or transfer of the Securities in accordance with
        Section 2(f) and satisfies the conditions applicable to the Buyer set forth
        in
        the Transfer Agent Instructions entered into simultaneously herewith, the
        Company shall permit the transfer and shall promptly instruct its transfer
        agent
        to issue one or more certificates or credit shares to the applicable balance
        accounts at DTC in such name and in such denominations as specified by such
        Buyer to effect such sale, transfer or assignment. In the event that such
        sale,
        assignment or transfer involves Conversion Shares, Interest Shares or Warrant
        Shares sold, assigned or transferred pursuant to an effective registration
        statement or pursuant to Rule 144, the transfer agent shall issue such
        Securities to the Buyer, assignee or transferee, as the case may be, without
        any
        restrictive legend. The Company acknowledges that a breach by it of its
        obligations hereunder will cause irreparable harm to a Buyer. Accordingly,
        the
        Company acknowledges that the remedy at law for a breach of its obligations
        under this Section 5(b) will be inadequate and agrees, in the event of a
        breach
        or threatened breach by the Company of the provisions of this Section 5(b),
        that
        a Buyer shall be entitled, in addition to all other available remedies, to
        an
        order and/or injunction restraining any breach and requiring immediate issuance
        and transfer, without the necessity of showing economic loss and without
        any
        bond or other security being required.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>CONDITIONS
        TO THE COMPANY'S OBLIGATION TO SELL.</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        obligation of the Company hereunder to issue and sell the Notes</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">and
        the
        related Warrants to each Buyer at the Closing is subject to the satisfaction,
        at
        or before the Closing Date, of each of the following conditions, provided
        that
        these conditions are for the Company's sole benefit and may be waived by
        the
        Company at any time in its sole discretion by providing each Buyer with prior
        written notice thereof:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Such
        Buyer shall have executed each of the Transaction Documents to which it is
        a
        party and delivered the same to the Company.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Such
        Buyer and each other Buyer shall have delivered to the Company the Purchase
        Price for the Notes and the related Warrants being purchased by such Buyer
        at
        the Closing by wire transfer of immediately available funds pursuant to the
        wire
        instructions provided by the Company.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        representations and warranties of such Buyer shall be true and correct in
        all
        material respects as of the date when made and as of the Closing Date as
        though
        made at that time (except for representations and warranties that speak as
        of a
        specific date), and such Buyer shall have performed, satisfied and complied
        in
        all material respects with the covenants, agreements and conditions required
        by
        this Agreement to be performed, satisfied or complied with by such Buyer
        at or
        prior to the Closing Date.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        total
        amount of Notes and Warrants purchased by the Buyers shall equal the maximum
        amount of Notes and Warrants purchasable hereunder in accordance with Section
        4(p) as of the Closing.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>CONDITIONS
        TO EACH BUYER'S OBLIGATION TO PURCHASE.</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        obligation of each Buyer hereunder to purchase the Notes</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">and
        the
        related Warrants at the Closing is subject to the satisfaction, at or before
        the
        Closing Date, of each of the following conditions, provided that these
        conditions are for each Buyer's sole benefit and may be waived by such Buyer
        at
        any time in its sole discretion by providing the Company with prior written
        notice thereof:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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          </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">26</font></div>
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            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall have executed and delivered to such Buyer (A) each of the
        Transaction Documents and (B) the Notes (in such principal amounts as such
        Buyer
        shall request)</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">and
        the
        related Warrants (in such amounts as such Buyer shall request), in each case,
        which are being purchased by such Buyer at the Closing pursuant to this
        Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Such
        Buyer shall have received the opinion of Curtis, Mallet-Prevost, Colt &amp;
        Mosle LLP, the Company's outside U.S. counsel, and Blake Dawson Waldron,
        the
        Company's outside Australian counsel, each dated as of the Closing Date,
        in
        form, scope and substance satisfactory to such Buyer, acting
        reasonably.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall have delivered to such Buyer a copy of the Irrevocable Transfer
        Agent Instruction, in the form of </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Exhibit
        D</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        attached
        hereto which instructions shall have been delivered to and acknowledged in
        writing by the Company's transfer agent.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall have delivered to such Buyer a certificate evidencing the
        formation and good standing of the Company in its jurisdiction of formation
        issued by the Secretary of State of the State (or comparable office) of such
        jurisdiction, as of a date within 10 days of the Closing Date.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall have delivered to such Buyer a certificate evidencing the
        Company's qualification as a foreign corporation and good standing issued
        by the
        Secretary of State (or comparable office) of each jurisdiction in which the
        Company conducts business, to the extent generally available in each such
        jurisdiction, as of a date within 10 days of the Closing Date.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(f)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall have delivered to such Buyer a certificate, executed by the
        Secretary of the Company and dated as of the Closing Date, as to (i) the
        resolutions consistent with Section 3(b) as adopted by the Company's board
        of
        directors or similar governing body or a committee thereof in a form reasonably
        acceptable to such Buyer and (ii) the Certificate of Incorporation, each
        as in
        effect at the Closing, in the form attached hereto as </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Exhibit&#160;F</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        and
        (iii) the resolutions of shareholders of the Company evidencing the Shareholder
        Meeting and Shareholder Approval consistent with Section 4(p).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(g)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        representations and warranties of the Company shall be true and correct in
        all
        material respects as of the date when made and as of the Closing Date as
        though
        made at that time (except for representations and warranties that speak as
        of a
        specific date) and the Company shall have performed, satisfied and complied
        in
        all material respects with the covenants, agreements and conditions required
        by
        the Transaction Documents to be performed, satisfied or complied with by
        the
        Company at or prior to the Closing Date. Such Buyer shall have received a
        certificate, executed by the Chief Executive Officer of the Company, dated
        as of
        the Closing Date, to the foregoing effect and as to such other matters as
        may be
        reasonably requested by such Buyer in the form attached hereto as </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Exhibit
        G</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(h)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall have delivered to such Buyer a letter from the Company's share
        registry or transfer agent certifying the number of shares of Common Stock
        outstanding as of a date within five days of the Closing Date.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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          </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">27</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        ADRs
        (I) shall be designated for quotation or listed on the Principal Market and
        (II)
        shall not have been suspended, as of the Closing Date, by the SEC or the
        Principal Market from trading on the Principal Market nor shall suspension
        by
        the SEC or the Principal Market have been threatened, as of the Closing Date,
        either (A) in writing by the SEC or the Principal Market or (B) by falling
        below
        the minimum listing maintenance requirements of the Principal
        Market.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(j)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall have obtained all governmental, regulatory or third party consents
        and approvals, if any, necessary for the sale of the Securities.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(k)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall have delivered to such Buyer such other documents relating
        to the
        transactions contemplated by this Agreement as such Buyer or its counsel
        may
        reasonably request.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>TERMINATION.
        </u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
        the
        event that the Closing shall not have occurred with respect to a Buyer on
        or
        before December 1, 2005 due to the Company's or such Buyer's failure to satisfy
        the conditions set forth in Sections 6 and 7 above (and the nonbreaching
        party's
        failure to waive such unsatisfied condition(s)), the nonbreaching party shall
        have the option to terminate this Agreement with respect to such breaching
        party
        at the close of business on such date without liability of any party to any
        other party; provided, however, if this Agreement is terminated pursuant
        to this
        Section 8, the Company shall remain obligated to reimburse the non-breaching
        Buyers for the expenses described in Section 4(g) above.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">MISCELLANEOUS.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Governing
        Law; Jurisdiction; Jury Trial</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        All
        questions concerning the construction, validity, enforcement and interpretation
        of this Agreement shall be governed by the internal laws of the State of
        New
        York, without giving effect to any choice of law or conflict of law provision
        or
        rule (whether of the State of New York or any other jurisdictions) that would
        cause the application of the laws of any jurisdictions other than the State
        of
        New York. Each party hereby irrevocably submits to the exclusive jurisdiction
        of
        the state and federal courts sitting in The City of New York, Borough of
        Manhattan, for the adjudication of any dispute hereunder or in connection
        herewith or with any transaction contemplated hereby or discussed herein,
        and
        hereby irrevocably waives, and agrees not to assert in any suit, action or
        proceeding, any claim that it is not personally subject to the jurisdiction
        of
        any such court, that such suit, action or proceeding is brought in an
        inconvenient forum or that the venue of such suit, action or proceeding is
        improper. Each party hereby irrevocably waives personal service of process
        and
        consents to process being served in any such suit, action or proceeding by
        mailing a copy thereof to such party at the address for such notices to it
        under
        this Agreement and agrees that such service shall constitute good and sufficient
        service of process and notice thereof. Nothing contained herein shall be
        deemed
        to limit in any way any right to serve process in any manner permitted by
        law.
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EACH
        PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO
        REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN
        CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED
        HEREBY.</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">28</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Counterparts</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        This
        Agreement may be executed in two or more identical counterparts, all of which
        shall be considered one and the same agreement and shall become effective
        when
        counterparts have been signed by each party and delivered to the other party;
        provided that a facsimile signature shall be considered due execution and
        shall
        be binding upon the signatory thereto with the same force and effect as if
        the
        signature were an original, not a facsimile signature.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Headings</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        headings of this Agreement are for convenience of reference and shall not
        form
        part of, or affect the interpretation of, this Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Severability</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If any
        provision of this Agreement shall be invalid or unenforceable in any
        jurisdiction, such invalidity or unenforceability shall not affect the validity
        or enforceability of the remainder of this Agreement in that jurisdiction
        or the
        validity or enforceability of any provision of this Agreement in any other
        jurisdiction.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Entire
        Agreement; Amendments</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Except
        for the non-disclosure agreement entered into by Sandell Asset Management
        Corp.
        and the Company on August 31, 2005, this Agreement and the other Transaction
        Documents supersede all other prior oral or written agreements between the
        Buyers, the Company, their affiliates and Persons acting on their behalf
        with
        respect to the matters discussed herein, and this Agreement, the other
        Transaction Documents and the instruments referenced herein and therein contain
        the entire understanding of the parties with respect to the matters covered
        herein and therein and, except as specifically set forth herein or therein,
        neither the Company nor any Buyer makes any representation, warranty, covenant
        or undertaking with respect to such matters. No provision of this Agreement
        may
        be amended other than by an instrument in writing signed by the Company and
        the
        holders of at least a majority of the aggregate number of Registrable Securities
        issued and issuable hereunder, and any amendment to this Agreement made in
        conformity with the provisions of this Section 9(e) shall be binding on all
        Buyers and holders of Securities, as applicable. No provision hereof may
        be
        waived other than by an instrument in writing signed by the party against
        whom
        enforcement is sought. No such amendment shall be effective to the extent
        that
        it applies to less than all of the holders of the applicable Securities then
        outstanding. No consideration shall be offered or paid to any Person to amend
        or
        consent to a waiver or modification of any provision of any of the Transaction
        Documents unless the same consideration also is offered to all of the parties
        to
        the Transaction Documents, holders of Notes or holders of the Warrants, as
        the
        case may be. The Company has not, directly or indirectly, made any agreements
        with any Buyers relating to the terms or conditions of the transactions
        contemplated by the Transaction Documents except as set forth in the Transaction
        Documents. Without limiting the foregoing, the Company confirms that, except
        as
        set forth in this Agreement, no Buyer has made any commitment or promise
        or has
        any other obligation to provide any financing to the Company or
        otherwise.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(f)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Notices</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Any
        notices, consents, waivers or other communications required or permitted
        to be
        given under the terms of this Agreement must be in writing and will be deemed
        to
        have been delivered: (i) upon receipt, when delivered personally; (ii) upon
        receipt, when sent by facsimile (provided confirmation of transmission is
        mechanically or electronically generated and kept on file by the sending
        party);
        or (iii) one Business Day after deposit with an overnight courier service,
        in
        each case properly addressed to the party to receive the same. The addresses
        and
        facsimile numbers for such communications shall be:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">29</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
        to the
        Company:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">pSivida
        Limited</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Level
        12,
        BGC Centre </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">28
        The
        Esplanade, Perth</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WA
        6000
        Australia</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Telephone:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">61
        8 9226
        5099</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Facsimile:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">61
        8 9226
        5499</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attention:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Gavin
        Rezos, Managing Director</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">with
        a
        copy to:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Curtis,
        Mallet-Prevost, Colt &amp; Mosle LLP</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">101
        Park
        Avenue</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">New
        York,
        N.Y.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
        A.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Telephone:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">212-696-6000</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Facsimile:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">212-697-1559</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attention:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Lawrence
        Goodman, Esq</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
        to the
        Transfer Agent:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Citibank,
        N.A.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">388
        Greenwich Street,</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">14th
        Floor</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">New
        York,
        New York 10013</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Telephone:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(212)
        816-6694 </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Facsimile:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(212)
        816-68650</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attention:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Paul
        Martin </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
        to a
        Buyer, to its address and facsimile number set forth on the Schedule of Buyers,
        with copies to such Buyer's representatives as set forth on the Schedule
        of
        Buyers, </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">with
        a
        copy (for informational purposes only) to:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Schulte
        Roth &amp; Zabel LLP <br></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">919
        Third
        Avenue<br></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">New
        York,
        New York 10022<br></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Telephone:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(212)
        756-2000<br></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Facsimile:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(212)
        593-5955<br></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attention:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Eleazer
        N. Klein, Esq.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">30</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">or
        to
        such other address and/or facsimile number and/or to the attention of such
        other
        Person as the recipient party has specified by written notice given to each
        other party five (5) days prior to the effectiveness of such change. Written
        confirmation of receipt (A) given by the recipient of such notice, consent,
        waiver or other communication, (B) mechanically or electronically generated
        by
        the sender's facsimile machine containing the time, date, recipient facsimile
        number and an image of the first page of such transmission or (C) provided
        by an
        overnight courier service shall be rebuttable evidence of personal service,
        receipt by facsimile or receipt from an overnight courier service in accordance
        with clause (i), (ii) or (iii) above, respectively.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company hereby irrevocably appoints National Corporate Research, Ltd.,
        of</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">225
        West
        34</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>th</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        Street,
        Suite 910, New York, N.Y. 10112, U.S.A. (</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>"NCR"</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">)
        as its
        agent for the receipt of service of process in the United States. The Company
        agrees that any document may be effectively served on it in connection with
        any
        action, suit or proceeding in the United States by service on its agents.
        The
        Buyers consent and agree that the Company may, in its reasonable discretion,
        irrevocably appoint a substitute agent for the receipt of service of process
        located within the Untied States, and that upon such appointment, the
        appointment of NCR may be revoked.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any
        document shall be deemed to have been duly served if marked for the attention
        of
        the agent at its address as set forth in Section 9(f) or such other address
        in
        the United States as may be notified to the party wishing to serve the document
        and (a) left at the specified address if its receipt is acknowledged in writing;
        or (b) sent to the specified address by post, registered mail return receipt
        requested. In the case of (a), the document will be deemed to have been duly
        served when it is left and signed for. In the case of (b), the document shall
        be
        deemed to have been duly served when received and acknowledged.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
        the
        Company's agent at any time ceases for any reason to act as such, the Company
        shall appoint a replacement agent having an address for service in the United
        States and shall notify each Buyer of the name and address of the replacement
        agent. Failing such appointment and notification, the holders of Notes
        representing not less than a majority of the aggregate principal amount of
        the
        then outstanding Notes shall be entitled by notice to the Company to appoint
        a
        replacement agent to act on the Company's behalf. The provisions of this
        Section
        9(f) applying to service on an agent apply equally to service on a replacement
        agent.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(g)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Successors
        and Assigns</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        This
        Agreement shall be binding upon and inure to the benefit of the parties and
        their respective successors and assigns, including any purchasers of the
        Notes
        or the Warrants. Except in accordance with the provisions of Section 5(a)
        of the
        Note, the Company shall not assign this Agreement or any rights or obligations
        hereunder without the prior written consent of the holders of at least a
        majority of the aggregate number of Registrable Securities issued and issuable
        hereunder, including by way of a Fundamental Transaction (unless the Company
        is
        in compliance with the applicable provisions governing Fundamental Transactions
        set forth in the Notes and the Warrants). A Buyer may assign some or all
        of its
        rights hereunder to Persons who assume such Buyer's obligations hereunder
        and
        who are capable of making the representations and warranties made by such
        Buyers
        hereunder without the consent of the Company, in which event such assignee
        shall
        be deemed to be a Buyer hereunder with respect to such assigned rights; provided
        that the number of persons deemed to be Buyers pursuant to this Section 9(g)
        shall not be greater than 3. </font></div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">31</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
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          </div>
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      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(h)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>No
        Third Party Beneficiaries</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        This
        Agreement is intended for the benefit of the parties hereto and their respective
        permitted successors and assigns, and is not for the benefit of, nor may
        any
        provision hereof be enforced by, any other Person.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Survival</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Unless
        this Agreement is terminated under Section 8, the representations and warranties
        of the Company and the Buyers contained in Sections 2 and 3 and the agreements
        and covenants set forth in Sections 4, 5 and 9 shall survive the Closing.
        Each
        Buyer shall be responsible only for its own representations, warranties,
        agreements and covenants hereunder.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(j)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Further
        Assurances</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Each
        party shall do and perform, or cause to be done and performed, all such further
        acts and things, and shall execute and deliver all such other agreements,
        certificates, instruments and documents, as any other party may reasonably
        request in order to carry out the intent and accomplish the purposes of this
        Agreement and the consummation of the transactions contemplated
        hereby.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(k)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Indemnification</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        In
        consideration of each Buyer's execution and delivery of the Transaction
        Documents and acquiring the Securities thereunder and in addition to all
        of the
        Company's other obligations under the Transaction Documents, the Company
        shall
        defend, protect, indemnify and hold harmless each Buyer and each other holder
        of
        the Securities and all of their stockholders, partners, members, officers,
        directors, employees and direct or indirect investors and any of the foregoing
        Persons' agents or other representatives (including, without limitation,
        those
        retained in connection with the transactions contemplated by this Agreement)
        (collectively, the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Indemnitees</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        from
        and against any and all actions, causes of action, suits, claims, losses,
        costs,
        penalties, fees, liabilities and damages, and expenses in connection therewith
        (irrespective of whether any such Indemnitee is a party to the action for
        which
        indemnification hereunder is sought), and including reasonable attorneys'
        fees
        and disbursements (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Indemnified
        Liabilities</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        incurred by any Indemnitee as a result of, or arising out of, or relating
        to (a)
        any misrepresentation or breach of any representation or warranty made by
        the
        Company in the Transaction Documents or any other certificate, instrument
        or
        document contemplated hereby or thereby, (b) any breach of any covenant,
        agreement or obligation of the Company contained in the Transaction Documents
        or
        any other certificate, instrument or document contemplated hereby or thereby
        or
        (c) any cause of action, suit or claim brought or made against such Indemnitee
        by a third party (including for these purposes a derivative action brought
        on
        behalf of the Company) and arising out of or resulting from (i) the execution,
        delivery, performance or enforcement of the Transaction Documents or any
        other
        certificate, instrument or document contemplated hereby or thereby, (ii)
        any
        transaction financed or to be financed in whole or in part, directly or
        indirectly, with the proceeds of the issuance of the Securities, or (iii)
        the
        status of such Buyer or holder of the Securities as an investor in the Company
        pursuant to the transactions contemplated by the Transaction Documents;
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>provided</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        that
        the Company shall not have to indemnify any Indemnitee for any Indemnified
        Liabilities to the extent that such Indemnified Liabilities result from (x)
        any
        such Indemnitee's breach of any representation or warranty contained in this
        Agreement or failure to perform any covenant or agreement contained in this
        Agreement, (y) such Indemnitee's gross negligence, willful default, recklessness
        or bad faith in performing its obligations under this Agreement or (z) the
        fact
        that the Indemnitee's execution, delivery or performance of this Agreement
        and
        the Registration Rights Agreement and the consummation of the transactions
        contemplated hereby and thereby (A) resulted in a violation of the
        organizational documents of such Indemnitee; (B) conflicted with, or constituted
        a default (or an event which with notice or lapse of time or both would have
        become a default) under, or give to others any rights of termination, amendment,
        acceleration or cancellation of, any agreement, indenture or instrument to
        which
        such Indemnitee was a party; or (C) resulted in a violation of any law, rule,
        regulation, order, judgment or decree (including federal and state securities
        laws and Australian Securities Laws) applicable to such Indemnitee. To the
        extent that the foregoing undertaking by the Company may be unenforceable
        for
        any reason, the Company shall make the maximum contribution to the payment
        and
        satisfaction of each of the Indemnified Liabilities which is permissible
        under
        applicable law. Except as otherwise set forth herein, the mechanics and
        procedures with respect to the rights and obligations under this Section
        9(k)
        shall be the same as those set forth in Section 6 of the Registration Rights
        Agreement.</font></div>
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      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          <div id="GLFTR" style="WIDTH: 100%" align="left">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">32</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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          </div>
        </div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(l)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>No
        Strict Construction</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        language used in this Agreement will be deemed to be the language chosen
        by the
        parties to express their mutual intent, and no rules of strict construction
        will
        be applied against any party.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(m)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Remedies</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Each
        Buyer and each holder of the Securities shall have all rights and remedies
        set
        forth in the Transaction Documents and all rights and remedies which such
        holders have been granted at any time under any other agreement or contract
        and
        all of the rights which such holders have under any law. Any Person having
        any
        rights under any provision of this Agreement shall be entitled to enforce
        such
        rights specifically (without posting a bond or other security), to recover
        damages by reason of any breach of any provision of this Agreement and to
        exercise all other rights granted by law. Furthermore, the Company recognizes
        that in the event that it fails to perform, observe, or discharge any or
        all of
        its obligations under the Transaction Documents, any remedy at law may prove
        to
        be inadequate relief to the Buyers. The Company therefore agrees that the
        Buyers
        shall be entitled to seek temporary and permanent injunctive relief in any
        such
        case without the necessity of proving actual damages and without posting
        a bond
        or other security.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(n)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Payment
        Set Aside</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        To the
        extent that the Company makes a payment or payments to the Buyers hereunder
        or
        pursuant to any of the other Transaction Documents or the Buyers enforce
        or
        exercise their rights hereunder or thereunder, and such payment or payments
        or
        the proceeds of such enforcement or exercise or any part thereof are
        subsequently invalidated, declared to be fraudulent or preferential, set
        aside,
        recovered from, disgorged by or are required to be refunded, repaid or otherwise
        restored to the Company, a trustee, receiver or any other Person under any
        law
        (including, without limitation, any bankruptcy law, foreign, state, territory
        or
        federal law, common law or equitable cause of action), then to the extent
        of any
        such restoration the obligation or part thereof originally intended to be
        satisfied shall be revived and continued in full force and effect as if such
        payment had not been made or such enforcement or setoff had not occurred.
        </font></div>
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        Nature of Buyers' Obligations and Rights</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        obligations of each Buyer under any Transaction Document are several and
        not
        joint with the obligations of any other Buyer, and no Buyer shall be responsible
        in any way for the performance of the obligations of any other Buyer under
        any
        Transaction Document. Nothing contained herein or in any other Transaction
        Document, and no action taken by any Buyer pursuant hereto or thereto, shall
        be
        deemed to constitute the Buyers as a partnership, an association, a joint
        venture or any other kind of entity, or create a presumption that the Buyers
        are
        in any way acting in concert or as a group with respect to such obligations
        or
        the transactions contemplated by the Transaction Documents and the Company
        acknowledges that the Buyers are not acting in concert or as a group with
        respect to such obligations or the transactions contemplated by the Transaction
        Documents. Each Buyer confirms that it has independently participated in
        the
        negotiation of the transaction contemplated hereby with the advice of its
        own
        counsel and advisors. Each Buyer shall be entitled to independently protect
        and
        enforce its rights, including, without limitation, the rights arising out
        of
        this Agreement or out of any other Transaction Documents, and it shall not
        be
        necessary for any other Buyer to be joined as an additional party in any
        proceeding for such purpose.</font></div>
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        Page Follows]</strong></font></a></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
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        WITNESS WHEREOF,</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        each
        Buyer and the Company have caused their respective signature page to this
        Securities Purchase Agreement to be duly executed as of the date first written
        above.</font></div>
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              <tr valign="top" bgcolor="#ffffff">
                <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
                <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
                <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              </tr>
              <tr valign="top" bgcolor="#ffffff">
                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
                <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>COMPANY:<br>pSivida
                  Limited</strong></font></td>
              </tr>
              <tr valign="top" bgcolor="#ffffff">
                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
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                <td>&#160;</td>
                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/&#160;Gavin
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                    Gavin Rezos<br></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Title:
                    Managing Director</font></div>
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        each
        Buyer and the Company have caused their respective signature page to this
        Securities Purchase Agreement to be duly executed as of the date first written
        above.</font></div>
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                  MASTER INVESTMENTS LTD.</div>
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                  SANDELL ASSET MANAGEMENTCORP.</strong></font></div>
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              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
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              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/&#160;John
                M. Nussbaum</font></td>
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              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Name:
                John M. Nussbaum<br></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Title:
                Senior Managing Director</font></font></td>
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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>v029459_ex99-2.htm
<TEXT>
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  <body bgcolor="#ffffff">
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EXHIBIT
        99.2</strong></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Form
        of Subordinated Convertible Note in the principal amount of US
        $15,000,000</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
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    <div>&#160;</div>
    <div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>[FORM
        OF SUBORDINATED CONVERTIBLE NOTE]</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>NEITHER
        THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR
        THE
        SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE HAVE BEEN REGISTERED
        UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES
        LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED
        (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
        UNDER THE SECURITIES ACT OF 1933, AS AMENDED OR (B) AN OPINION OF COUNSEL,
        IN A
        FORM REASONABLY ACCEPTABLE TO THE COMPANY, THAT REGISTRATION IS NOT REQUIRED
        UNDER SAID ACT OR (II) IF SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID
        ACT,
        SUCH DOCUMENTS, OPINIONS AND CERTIFICATES AS THE COMPANY MAY REASONABLY REQUIRE.
        NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION
        WITH
        A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED
        BY THE
        SECURITIES. ANY TRANSFEREE OF THIS NOTE SHOULD CAREFULLY REVIEW THE TERMS
        OF
        THIS NOTE, INCLUDING SECTIONS 3(c)(iii) AND 19(a) HEREOF. THE PRINCIPAL AMOUNT
        REPRESENTED BY THIS NOTE AND, ACCORDINGLY, THE SECURITIES ISSUABLE UPON
        CONVERSION HEREOF MAY BE LESS THAN THE AMOUNTS SET FORTH ON THE FACE HEREOF
        PURSUANT TO SECTION 3(c)(iii) OF THIS NOTE.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>pSIVIDA
        LIMITED</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SUBORDINATED
        CONVERTIBLE NOTE</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div align="center">
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            <tr bgcolor="#ffffff">
              <td width="50%"><font size="2">Issuance Date: November 15, 2005 </font></td>
              <td width="50%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font size="2">Principal:
                  U.S.
                  $15,000,000</font></div>
              </td>
            </tr>

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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>FOR
        VALUE RECEIVED</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        pSivida
        Limited, an Australian corporation (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Company</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        hereby promises to pay to the order of&#160;_________________ </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">or
        registered assigns (&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Holder</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        the
        amount set out above as the Principal (as reduced pursuant to the terms hereof
        pursuant to redemption, conversion or otherwise, the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Principal</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        when
        due, whether upon the Maturity Date (as defined below), acceleration, redemption
        or otherwise (in each case in accordance with the terms hereof) and to pay
        interest (&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Interest</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        on any
        outstanding Principal at the Interest Rate, from the date set out above as
        the
        Issuance Date (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Issuance
        Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        until
        the same becomes due and payable, whether upon an Interest Date (as defined
        below), the Maturity Date, acceleration, conversion, redemption or otherwise
        (in
        each case in accordance with the terms hereof). This Subordinated Convertible
        Note (including all Subordinated Convertible Notes issued in exchange, transfer
        or replacement hereof, this &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Note</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        is one
        of an issue of Subordinated Convertible Notes issued pursuant to the Securities
        Purchase Agreement (as defined below) on the Closing Date (collectively,
        the
&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Notes</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        and
        such other Subordinated Convertible Notes, the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Other
        Notes</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        and the
        holders of the Other Notes, the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Other
        Holders</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)).
        Certain capitalized terms used herein are defined in Section 29.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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        On the
        Maturity Date, the Holder shall surrender this Note to the Company and the
        Company shall pay to the Holder an amount in cash representing all outstanding
        Principal, accrued and unpaid Interest and accrued and unpaid Late Charges,
        if
        any. The &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Maturity
        Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        shall
        be the date which is three (3) years after the Issuance Date, as may be extended
        at the option of the Holder (i)&#160;in the event that, and for so long
        as, an
        Event of Default (as defined in Section 4(a)) pursuant to clause (i), (ii)
        or
        (iii) of Section 4(a) shall have occurred and be continuing or any event
        shall
        have occurred and be continuing which with the passage of time and the failure
        to cure would result in an Event of Default pursuant to clause (i), (ii)
        or
        (iii) of Section 4(a) and (ii) through the date that is ten (10) Business
        Days
        after the consummation of a Change of Control in the event that a Change
        of
        Control is publicly announced or a Change of Control Notice (as defined in
        Section 5) is delivered prior to the Maturity Date.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
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        INTEREST RATE</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Interest on this Note shall commence accruing on the Issuance Date and shall
        be
        computed on the basis of a 365-day year and actual days elapsed and shall
        be
        payable in arrears for each Calendar Quarter on the first (1st) day of the
        succeeding Calendar Quarter during the period beginning on the Issuance Date
        and
        ending on, and including, the Maturity Date (each, an &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Interest
        Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        with
        the first Interest Date being January 1, 2006. Interest shall be payable
        on each
        Interest Date, to the record holder of this Note on the applicable Interest
        Date, in ADRs (&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Interest
        Shares</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        or,
        at the option of the Company, in cash (&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Cash
        Interest</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        or a
        combination thereof. On or prior to the fifth (5th) Trading Day prior to
        each
        Interest Date (each, an &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Interest
        Notice Due Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        the
        Company shall deliver written notice (each, an &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Interest
        Election Notice</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        to the
        Holder confirming that the Equity Conditions have been satisfied as of such
        Interest Notice Due Date and specifying the amount of Interest that shall
        be
        paid as Cash Interest and the amount of Interest that shall be paid in Interest
        Shares. Notwithstanding the foregoing, unless otherwise waived or consented
        to
        in writing by the Holder, the Company will not be permitted to issue on any
        Interest Date a number of Interest Shares (and must pay any excess in Cash
        Interest) which exceeds the Maximum Interest Share Amount. Interest to be
        paid
        on an Interest Date in Interest Shares shall be paid in a number of fully
        paid
        and nonassessable (rounded to the nearest whole share in accordance with
        Section
        3(a)) ADRs equal to the quotient of (a)&#160;the amount of Interest payable
        on
        such Interest Date less any Cash Interest paid and (b)&#160;the Interest
        Conversion Price in effect on the applicable Interest Date. If any Interest
        Shares are to be paid on an Interest Date, then the Company shall
        (X)&#160;provided that the Company&#8217;s transfer agent (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Transfer
        Agent</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        is
        participating in the Depository Trust Company (&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>DTC</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        Fast
        Automated Securities Transfer Program, credit such aggregate number of Interest
        Shares to which the Holder shall be entitled to the Holder&#8217;s or its designee&#8217;s
        balance account with DTC through its Deposit Withdrawal Agent Commission
        system,
        or (Y)&#160;if the foregoing shall not apply, issue and deliver on the
        applicable Interest Date, to the address set forth in the register maintained
        by
        the Company for such purpose pursuant to the Securities Purchase Agreement
        or to
        such address as specified by the Holder in writing to the Company at least
        two
        (2) Business Days prior to the applicable Interest Date, a certificate,
        registered in the name of the Holder or its designee, for the number of Interest
        Shares to which the Holder shall be entitled. In addition, upon payment of
        any
        Interest Shares, the Company shall deposit the corresponding number of Ordinary
        Shares representing the number of American Depositary Shares (&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ADSs</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        underlying the ADRs and pay by wire transfer to the Depositary&#8217;s account the ADS
        issuance fee of $0.04 per ADS to be issued, together with all applicable
        taxes
        and expenses otherwise payable under the terms of the Deposit Agreement for
        the
        deposit of Ordinary Shares and issuance of ADSs (including, without limitation,
        confirmation that any Australian stock transfer taxes in respect of such
        deposit
        (if any) have been paid by the Company), and the Company shall otherwise
        comply
        with and cause any other necessary party to comply with all the terms of
        the
        Deposit Agreement. Notwithstanding the foregoing, the Company shall not be
        entitled to pay Interest in Interest Shares and shall be required to pay
        such
        Interest in cash as Cash Interest on the applicable Interest Date if, unless
        consented to in writing by the Holder, during the period commencing on the
        applicable Interest Notice Due Date through the applicable Interest Date
        the
        Equity Conditions have not been satisfied. Prior to the payment of Interest
        on
        an Interest Date, Interest on this Note shall accrue at the Interest Rate
        and be
        payable by way of inclusion of the Interest in the Conversion Amount in
        accordance with Section 3(b)(i). Upon the occurrence and during the continuance
        of an Event of Default, the Interest Rate shall be increased to ten percent
        (10%). In the event that such Event of Default is subsequently cured, the
        adjustment referred to in the preceding sentence shall cease to be effective
        as
        of the date of such cure; provided that the Interest as calculated and unpaid
        at
        such increased rate during the continuance of such Event of Default shall
        continue to apply to the extent relating to the days after the occurrence
        of
        such Event of Default through and including the date of cure of such Event
        of
        Default. The Company&#8217;s obligation to pay any taxes in respect of the issuance
        and delivery of Interest Shares, or to pay to the Holder any additional amounts
        associated with such taxes, shall be determined under Section 4(o) of the
        Securities Purchase Agreement.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(3)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>CONVERSION
        OF NOTES</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        This
        Note shall be convertible into the Company&#8217;s ADRs, on the terms and conditions
        set forth in this Section 3.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Conversion
        Right</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Subject
        to the provisions of Section 3(d), at any time or times on or after the Issuance
        Date, the Holder shall be entitled to convert any portion of the outstanding
        and
        unpaid Conversion Amount (as defined below) into fully paid and nonassessable
        ADRs in accordance with Section 3(c), at the Conversion Rate (as defined
        below).
        The Company shall not issue any fraction of an ADR upon any conversion. If
        any
        conversion would result in the issuance of a fraction of an ADR, the Company
        shall round such fraction of an ADR up to the nearest whole share. The Company&#8217;s
        obligation to pay any taxes in respect of the issuance and delivery of ADRs
        or
        Ordinary Shares, or to pay to the Holder any additional amounts associated
        with
        such taxes, shall be determined under Section 4(o) of the Securities Purchase
        Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
        the
        event that the Company&#8217;s Board of Directors should determine that the Company
        shall transform itself (whether by re-incorporation in the United States
        or
        otherwise) from a foreign private issuer (as defined under the Securities
        Act of
        1933, as amended), all references to ADRs or ADSs shall be deemed references
        to
        whatever shares are then issued by the re-domiciled Company and all other
        provisions of this Agreement shall be equitably adjusted by the parties hereto
        to the extent necessary or appropriate to reflect such new country of
        incorporation.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Conversion
        Rate</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        number of ADRs issuable upon conversion of any Conversion Amount pursuant
        to
        Section 3(a) shall be determined by dividing (x)&#160;such Conversion Amount
        by
        (y)&#160;the Conversion Price (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Conversion
        Rate</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;).</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
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          </div>
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      </div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Conversion
        Amount</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        the sum of (A)&#160;the portion of the Principal to be converted, redeemed
        or
        otherwise with respect to which this (or any other) determination is being
        made,
        (B)&#160;accrued and unpaid Interest with respect to such Principal and
        (C)&#160;accrued and unpaid Late Charges with respect to such Principal
        and
        Interest.</font></div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Conversion
        Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means,
        as of any Conversion Date (as defined below) or other date of determination,
        $7.10 per ADR (which is equivalent to $0.71 per Ordinary Share), subject
        to
        adjustment as provided herein.</font></div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Mechanics
        of Conversion</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Optional
        Conversion</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        To
        convert any Conversion Amount into ADRs on any date (a &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Conversion
        Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        the
        Holder shall (A)&#160;transmit by facsimile (or otherwise deliver), for
        receipt
        on or prior to 11:59 p.m., New York Time, on such date, a copy of an executed
        notice of conversion in the form attached hereto as Exhibit I (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Conversion
        Notice</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        to the
        Company and (B)&#160;if required by Section 3(c)(iii), surrender this Note
        to a
        common carrier for delivery to the Company as soon as practicable on or
        following such date (or an indemnification undertaking with respect to this
        Note
        in the case of its loss, theft or destruction). On or before the second (2nd)
        Business Day following the date of receipt of a Conversion Notice, the Company
        shall transmit by facsimile a confirmation of receipt of such Conversion
        Notice
        to the Holder and the Transfer Agent. On or before the fifth (5th) Business
        Day
        following the date of receipt of a Conversion Notice (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Share
        Delivery Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        the
        Company shall (X)&#160;provided that the Transfer Agent is participating
        in the
        DTC Fast Automated Securities Transfer Program, credit such aggregate number
        of
        ADRs to which the Holder shall be entitled to the Holder&#8217;s or its designee&#8217;s
        balance account with DTC through its Deposit Withdrawal Agent Commission
        system
        or (Y)&#160;if the foregoing shall not apply, issue and deliver to the
        address
        as specified in the Conversion Notice, a certificate, registered in the name
        of
        the Holder or its designee, for the number of ADRs to which the Holder shall
        be
        entitled. If this Note is physically surrendered for conversion as required
        by
        Section 3(c)(iii) and the outstanding Principal of this Note is greater than
        the
        Principal portion of the Conversion Amount being converted, then the Company
        shall as soon as practicable and in no event later than three (3) Business
        Days
        after receipt of this Note and at its own expense, issue and deliver to the
        holder a new Note (in accordance with Section 19(d)) representing the
        outstanding Principal not converted. The Person or Persons entitled to receive
        the ADRs issuable upon a conversion of this Note shall be treated for all
        purposes as the record holder or holders of such ADRs on the Conversion Date.
        Upon conversion of this Note, the Company shall deposit the corresponding
        number
        of Ordinary Shares representing the number of ADSs underlying the ADRs and
        pay
        by wire transfer to the Depositary&#8217;s account the ADS issuance fee of $0.04 per
        ADS to be issued, together with all applicable taxes and expenses otherwise
        payable under the terms of the Deposit Agreement for the deposit of Ordinary
        Shares and issuance of ADSs (including, without limitation, confirmation
        that
        any Australian stock transfer taxes in respect of such deposit (if any) have
        been paid by the Company), and the Company shall otherwise comply with and
        cause
        any other necessary party to comply with all the terms of the Deposit
        Agreement.</font></div>
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      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Company&#8217;s
        Failure to Timely Convert</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If the
        Company shall fail to issue a certificate to the Holder or credit the Holder&#8217;s
        balance account with DTC for the number of ADRs to which the Holder is entitled
        upon conversion of any Conversion Amount on or prior to the date which is
        five
        (5) Business Days after the Conversion Date (a &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Conversion
        Failure</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        then
        (A)&#160;the Company shall pay damages in cash to the Holder for each date
        of
        such Conversion Failure in an amount equal to an interest rate equal to 10%
        per
        annum applied to the product of (I)&#160;the sum of the number of ADRs
        not
        issued to the Holder on or prior to the Share Delivery Date and to which
        the
        Holder is entitled, and (II)&#160;the Closing Sale Price of the ADRs on
        the
        Share Delivery Date and (B)&#160;the Holder, upon written notice to the
        Company,
        may void its Conversion Notice with respect to, and retain or have returned,
        as
        the case may be, any portion of this Note that has not been converted pursuant
        to such Conversion Notice; provided that the voiding of a Conversion Notice
        shall not affect the Company&#8217;s obligations to make any payments which have
        accrued prior to the date of such notice pursuant to this Section 3(c)(ii)
        or
        otherwise. In addition to the foregoing, if within three (3) Trading Days
        after
        the Company&#8217;s receipt of the facsimile copy of a Conversion Notice the Company
        shall fail to issue and deliver a certificate to the Holder or credit the
        Holder&#8217;s balance account with DTC for the number of ADRs to which the Holder is
        entitled upon such holder&#8217;s conversion of any Conversion Amount, and if on or
        after such Trading Day the Holder purchases (in an open market transaction
        or
        otherwise) ADRs to deliver in satisfaction of a sale by the Holder of ADRs
        issuable upon such conversion that the Holder anticipated receiving from
        the
        Company (a &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Buy-In</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        then
        the Company shall, within three (3) Business Days after the Holder&#8217;s request and
        in the Holder&#8217;s discretion, either (i)&#160;pay cash to the Holder in an amount
        equal to the Holder&#8217;s total purchase price (including brokerage commissions, if
        any) for the ADRs so purchased (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Buy-In
        Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        at
        which point the Company&#8217;s obligation to deliver such certificate (and to issue
        such ADRs) shall be deemed to have been satisfied and shall terminate, or
        (ii)&#160;promptly honor its obligation to deliver to the Holder a certificate
        or certificates representing such ADRs and pay cash to the Holder in an amount
        equal to the excess (if any) of the Buy-In Price over the product of
        (A)&#160;such number of ADRs, times (B)&#160;the Closing Bid Price on
        the
        Conversion Date.</font></div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iii)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Book-Entry</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Notwithstanding anything to the contrary set forth herein, upon conversion
        of
        any portion of this Note in accordance with the terms hereof, the Holder
        shall
        not be required to physically surrender this Note to the Company unless
        (A)&#160;the full Conversion Amount represented by this Note is being converted
        or (B)&#160;the Holder has provided the Company with prior written notice
        (which
        notice may be included in a Conversion Notice) requesting reissuance of this
        Note upon physical surrender of this Note. The Holder and the Company shall
        maintain records showing the Principal, Interest and Late Charges converted
        and
        the dates of such conversions or shall use such other method, reasonably
        satisfactory to the Holder and the Company, so as not to require physical
        surrender of this Note upon conversion.</font></div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iv)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Pro
        Rata Conversion; Disputes</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        In the
        event that the Company receives a Conversion Notice from more than one holder
        of
        Notes for the same Conversion Date and the Company can convert some, but
        not
        all, of such portions of the Notes submitted for conversion, the Company,
        subject to Section 3(d), shall convert from each holder of Notes electing
        to
        have Notes converted on such date a pro rata amount of such holder&#8217;s portion of
        its Notes submitted for conversion based on the principal amount of Notes
        submitted for conversion on such date by such holder relative to the aggregate
        principal amount of all Notes submitted for conversion on such date. In the
        event of a dispute as to the number of ADRs issuable to the Holder in connection
        with a conversion of this Note, the Company shall issue to the Holder the
        number
        of ADRs not in dispute and resolve such dispute in accordance with Section
        24.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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          </div>
        </div>
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          </div>
        </div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Limitations
        on Conversions</u></font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Beneficial
        Ownership</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company shall not effect any conversion of this Note, and the Holder of this
        Note shall not have the right to convert any portion of this Note pursuant
        to
        Section 3(a), to the extent that after giving effect to such conversion,
        the
        Holder (together with the Holder&#8217;s affiliates) would beneficially own (directly
        or indirectly) in excess of 4.99% (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Maximum
        Percentage</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        of the
        number of Ordinary Shares outstanding immediately after giving effect to
        such
        conversion. For purposes of the foregoing sentence, the number of Ordinary
        Shares beneficially owned (directly or indirectly) by the Holder and its
        affiliates shall include the number of Ordinary Shares represented by the
        ADRs
        issuable upon conversion of this Note with respect to which the determination
        of
        such sentence is being made, but shall exclude the number of Ordinary Shares
        represented by the ADRs or otherwise which would be issuable upon
        (A)&#160;conversion of the remaining, nonconverted portion of this Note
        beneficially owned by the Holder or any of its affiliates and (B)&#160;exercise
        or conversion of the unexercised or nonconverted portion of any other securities
        of the Company beneficially owned by the Holder or any of its affiliates
        (including, without limitation, any Other Notes or warrants) subject to a
        limitation on conversion or exercise analogous to the limitation contained
        herein. Except as set forth in the preceding sentence, for purposes of this
        Section 3(d), beneficial ownership shall be calculated in accordance with
        Section 13(d) of the Securities Exchange Act of 1934, as amended. For purposes
        of this Section 3(d), in determining the number of outstanding Ordinary Shares,
        the Holder may rely on the number of outstanding Ordinary Shares as reflected
        in
        (x)&#160;the Company&#8217;s most recent Form 20-F, Form 6-K or other public filing
        with the Securities and Exchange Commission, as the case may be (y)&#160;a
        more
        recent public announcement by the Company or (z)&#160;any other notice
        by the
        Company or the Transfer Agent setting forth the number of Ordinary Shares
        outstanding. For any reason at any time, upon the written or oral request
        of the
        Holder, the Company shall within two (2) Business Days confirm orally and
        in
        writing to the Holder the number of Ordinary Shares then outstanding. In
        any
        case, the number of outstanding Ordinary Shares shall be determined after
        giving
        effect to the conversion or exercise of securities of the Company, including
        this Note, by the Holder and its affiliates since the date as of which such
        number of outstanding Ordinary Shares was reported. By written notice to
        the
        Company, the Holder may increase or decrease the Maximum Percentage to any
        other
        percentage not in excess of 9.99% specified in such notice; provided that
        (i)&#160;any such increase will not be effective until the sixty-first
        (61st)
        day after such notice is delivered to the Company, and (ii)&#160;any such
        increase or decrease will apply only to the Holder and not to any other holder
        of Notes.</font></div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-6-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Principal
        Market Regulation</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company shall not be obligated to issue any ADRs upon conversion of this
        Note,
        and the Holder of this Note shall not have the right to receive upon conversion
        of this Note any ADRs, if the issuance of such ADRs would exceed the aggregate
        number of ADRs which the Company may issue upon conversion or exercise, as
        applicable, of the Notes and Warrants or otherwise without breaching the
        Company&#8217;s obligations under the rules or regulations of the Principal Market (or
        such other Eligible Market on which the ADRs or Ordinary Shares are listed)
        and
        the ASX (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exchange
        Cap</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        except that such limitation shall not apply in the event that the Company
        obtains the approval of its shareholders as required by the applicable rules
        of
        the Principal Market and the ASX listing rules for issuances in excess of
        such
        amount. Until such approval is obtained, no purchaser of the Notes pursuant
        to
        the Securities Purchase Agreement (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Purchasers</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        shall
        be issued in the aggregate, upon conversion or exercise, as applicable, of
        Notes
        or Warrants, or otherwise any ADRs in an amount greater than the product
        of the
        Exchange Cap multiplied by a fraction, the numerator of which is the principal
        amount of Notes issued to the applicable Purchaser pursuant to the Securities
        Purchase Agreement on the Closing Date and the denominator of which is the
        aggregate principal amount of all Notes issued to the Purchasers pursuant
        to the
        Securities Purchase Agreement on the Closing Date (with respect to each
        Purchaser, the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exchange
        Cap Allocation</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;).
        In
        the event that any Purchaser shall sell or otherwise transfer any of such
        Purchaser&#8217;s Notes, the transferee shall be allocated a pro rata portion of such
        Purchaser&#8217;s Exchange Cap Allocation, and the restrictions of the prior sentence
        shall apply to such transferee with respect to the portion of the Exchange
        Cap
        Allocation allocated to such transferee. In the event that any holder of
        Notes
        shall convert all of such holder&#8217;s Notes into a number of ADRs which, in the
        aggregate, is less than such holder&#8217;s Exchange Cap Allocation, then the
        difference between such holder&#8217;s Exchange Cap Allocation and the number of ADRs
        actually issued to such holder shall be allocated to the respective Exchange
        Cap
        Allocations of the remaining holders of Notes on a pro rata basis in proportion
        to the aggregate principal amount of the Notes then held by each such
        holder.</font></div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(4)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>RIGHTS
        UPON EVENT OF DEFAULT</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Event
        of Default</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Each of
        the following events shall constitute an &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Event
        of Default</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;:</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
        failure of the applicable Registration Statement required to be filed pursuant
        to the Registration Rights Agreement to be declared effective by the SEC
        on or
        prior to the date that is sixty (60) days after the applicable Effectiveness
        Deadline (as defined in the Registration Rights Agreement), or, while the
        applicable Registration Statement is required to be maintained effective
        pursuant to the terms of the Registration Rights Agreement, the effectiveness
        of
        the applicable Registration Statement lapses for any reason (including, without
        limitation, the issuance of a stop order) or is unavailable to any holder
        of the
        Notes for sale of all of such holder&#8217;s Registrable Securities (as defined in the
        Registration Rights Agreement) in accordance with the terms of the Registration
        Rights Agreement, and such lapse or unavailability continues for a period
        of ten
        (10) consecutive days or for more than an aggregate of thirty (30) days in
        any
        365-day period (other than days during an Allowable Grace Period (as defined
        in
        the Registration Rights Agreement));</font></div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
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          </div>
        </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
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      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
        suspension from trading or failure of the ADRs to be listed on an Eligible
        Market for a period of five (5) consecutive days or for more than an aggregate
        of ten (10) days in any 365-day period;</font></div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iii)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
        Company&#8217;s (A)&#160;failure to cure a Conversion Failure by delivery of the
        required number of ADRs within twelve (12) Business Days after the applicable
        Conversion Date or (B)&#160;notice, written or oral, to any holder of the
        Notes,
        including by way of public announcement or through any of its agents, at
        any
        time, of its intention not to comply with a request for conversion of any
        Notes
        into ADRs that is tendered in accordance with the provisions of the
        Notes;</font></div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iv)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
        Company&#8217;s failure to pay to the Holder any amount of Principal when and as due
        or any Interest, Late Charges or other amounts within three Business Days
        of the
        date when and as due under this Note (including, without limitation, the
        Company&#8217;s failure to pay any redemption payments) or any other Transaction
        Document (as defined in the Securities Purchase Agreement) or any other
        agreement, document, certificate or other instrument delivered in connection
        with the transactions contemplated hereby and thereby to which the Holder
        is a
        party;</font></div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(v)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">any
        Indebtedness, the aggregate of which obligation(s) exceed(s) US$250,000.00
        (or
        the equivalent in one or more other currencies) individually or in the aggregate
        is declared to be or otherwise becomes due and payable prior to its specified
        maturity (other than as a result of a mandatory prepayment not attributable
        to
        an event of default) or with respect to which the Company or any of its
        Subsidiaries fails to make any payment at the maturity date as and when
        due;</font></div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(vi)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
        Company or any of its Material Subsidiaries (as such term is defined under
        Regulation S-K under the Securities and Exchange Act of 1933, as amended),
        pursuant to or within the meaning of Title 11, U.S. Code, or any similar
        Federal, foreign or state law for the relief of debtors (collectively,
&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Bankruptcy
        Law</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        (A)&#160;commences a voluntary case, (B)&#160;consents to the entry of
        an order
        for relief against it in an involuntary case, (C)&#160;consents to the
        appointment of a receiver, trustee, assignee, liquidator or similar official
        (a
&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Custodian</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        (D)&#160;makes a general assignment for the benefit of its creditors or
        (E)&#160;admits in writing that it is generally unable to pay its debts
        as they
        become due;</font></div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(vii)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a
        court
        of competent jurisdiction enters an order or decree under any Bankruptcy
        Law
        that (A)&#160;is for relief against the Company or any of its Material
        Subsidiaries in an involuntary case, (B)&#160;appoints a Custodian of the
        Company or any of its Material Subsidiaries or (C)&#160;orders the liquidation
        of the Company or any of its Material Subsidiaries;</font></div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(viii)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a
        final
        judgment or judgments for the payment of money aggregating in excess of
        $2,500,000 are rendered against the Company or any of its Subsidiaries and
        which
        judgments are not, within sixty (60) days after the entry thereof, bonded,
        discharged or stayed pending appeal, or are not discharged within sixty (60)
        days after the expiration of such stay; </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>provided</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>however</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        that
        any such judgment shall not give rise to an Event of Default under this
        subsection (viii)&#160;if and for so long as (A)&#160;the amount of such
        judgment is covered by a valid and binding policy of insurance between the
        defendant and the insurer covering full payment thereof and (B)&#160;such
        insurer has been notified, and has not disputed the claim made for payment,
        of
        the amount of such judgment;</font></div>
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      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
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      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ix)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
        Company breaches any material representation, warranty, covenant or other
        term
        or condition of any Transaction Document in any material respect, except,
        in the
        case of a breach of a covenant which is curable, only if such breach continues
        for a period of at least ten (10) consecutive Business Days after notice
        from
        any Holder or the Company becomes or reasonably should be expected to have
        become aware of such breach;</font></div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(x)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">any
        material breach or failure in any respect to comply with either of Sections
        8 or
        15 of this Note; or</font></div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(xi)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">any
        Event
        of Default (as defined in the Other Notes) occurs with respect to any Other
        Notes.</font></div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Redemption
        Right</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Promptly after the occurrence of an Event of Default with respect to this
        Note
        or any Other Note, the Company shall deliver written notice thereof via
        facsimile and overnight courier (an &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Event
        of Default Notice</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        to the
        Holder. At any time after the earlier of the Holder&#8217;s receipt of an Event of
        Default Notice and the Holder becoming aware of an Event of Default and until
        30
        days after such Event of Default has been cured, the Holder may require the
        Company to redeem all or any portion of this Note by delivering written notice
        thereof (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Event
        of Default Redemption Notice</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        to the
        Company, which Event of Default Redemption Notice shall indicate the portion
        of
        this Note the Holder is electing to redeem. Each portion of this Note subject
        to
        redemption by the Company pursuant to this Section 4(b) shall be redeemed
        by the
        Company at a price equal to the greater of (i)&#160;the product of (x)&#160;the
        Conversion Amount to be redeemed and (y)&#160;the Redemption Premium and
        (ii)&#160;the product of (A)&#160;the Conversion Rate with respect to
        such
        Conversion Amount in effect at such time as the Holder delivers an Event
        of
        Default Redemption Notice and (B)&#160;the Closing Sale Price of the ADRs
        on the
        date immediately preceding such Event of Default (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Event
        of Default Redemption Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;).
        Redemptions required by this Section 4(b) shall be made in accordance with
        the
        provisions of Section 13.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(5)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>RIGHTS
        UPON FUNDAMENTAL TRANSACTION AND CHANGE OF CONTROL</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Assumption</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company shall not enter into or be party to a Fundamental Transaction unless,
        and shall use its best endeavors to procure that, (i)&#160;the Successor
        Entity
        (if other than the Company) assumes in writing all of the obligations of
        the
        Company under this Note and the other Transaction Documents in accordance
        with
        the provisions of this Section 5(a) pursuant to written agreements in form
        and
        substance reasonably satisfactory to the Required Holders and approved by
        the
        Required Holders prior to such Fundamental Transaction, including agreements
        to
        deliver to each holder of Notes in exchange for such Notes a security of
        such
        Successor Entity evidenced by a written instrument substantially similar
        in form
        and substance to the Notes, including, without limitation, having a principal
        amount and interest rate equal to the principal amounts and the interest
        rates
        of the Notes held by such holder and having similar ranking to the Notes,
        and
        reasonably satisfactory to the Required Holders and (ii)&#160;the Successor
        Entity is a publicly traded corporation whose common shares (or whose American
        Depositary Shares) are quoted on or listed for trading on an Eligible Market.
        Upon the occurrence of any Fundamental Transaction, such Successor Entity
        shall
        succeed to, and be substituted for (so that from and after the date of such
        Fundamental Transaction, the provisions of this Note referring to the &#8220;Company&#8221;
        shall refer instead to such Successor Entity), and may exercise every right
        and
        power of the Company and shall assume all of the obligations of the Company
        under this Note with the same effect as if such Successor Entity had been
        named
        as the Company herein. Upon consummation of the Fundamental Transaction,
        such
        Successor Entity shall deliver to the Holder confirmation that there shall
        be
        issued upon conversion or redemption of this Note at any time after the
        consummation of the Fundamental Transaction, in lieu of the ADRs (or other
        securities, cash, assets or other property) purchasable upon the conversion
        or
        redemption of the Notes prior to such Fundamental Transaction, such publicly
        traded common shares (or their equivalent) of the Successor Entity (including
        its Parent Entity), as adjusted in accordance with the provisions of this
        Note.
        The provisions of this Section shall apply similarly and equally to successive
        Fundamental Transactions and shall be applied without regard to any limitations
        on the conversion or redemption of this Note.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Redemption
        Right</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        No
        sooner than thirty (30) days nor later than ten (10) days prior to the
        consummation of a Change of Control, the Company shall deliver written notice
        thereof via facsimile and overnight courier to the Holder (a &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Change
        of Control Notice</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;);
        provided that in no case shall the Company deliver or be required to deliver
        such Change of Control Notice prior to the public announcement of such Change
        of
        Control. At any time during the period beginning after the Holder&#8217;s receipt of a
        Change of Control Notice and ending on the date of the consummation of such
        Change of Control (or, in the event a Change of Control Notice is not delivered
        at least ten (10) days prior to a Change of Control, at any time on or after
        the
        date which is ten (10) days prior to a Change of Control and ending ten (10)
        days after the consummation of such Change of Control), the Holder may require
        the Company to redeem all or any portion of this Note by delivering written
        notice thereof (&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Change
        of Control Redemption Notice</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        to the
        Company, which Change of Control Redemption Notice shall indicate the Conversion
        Amount the Holder is electing to redeem. The portion of this Note subject
        to
        redemption pursuant to this Section 5 shall be redeemed by the Company at
        a
        price equal to the greater of (i)&#160;the product of (x)&#160;the Conversion
        Amount being redeemed and (y)&#160;the quotient determined by dividing
        (A)&#160;the Closing Sale Price of the ADRs immediately following the public
        announcement of such proposed Change of Control by (B)&#160;the Conversion
        Price
        and (ii)&#160;the product of Change of Control Premium and the Conversion
        Amount
        being redeemed (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Change
        of Control Redemption Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;).
        Redemptions required by this Section 5 shall be made in accordance with the
        provisions of Section 13 and shall have priority to payments to shareholders
        in
        connection with a Change of Control.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(6)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>RIGHTS
        UPON ISSUANCE OF PURCHASE RIGHTS AND OTHER CORPORATE EVENTS</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Purchase
        Rights</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If at
        any time the Company, directly or indirectly, grants, issues or sells any
        Options, Convertible Securities or rights to purchase shares, warrants,
        securities or other property pro rata to the record holders of any class
        of
        Ordinary Shares (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Purchase
        Rights</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        then
        the Holder will be entitled to acquire, to the extent permitted by applicable
        Law, upon the terms applicable to such Purchase Rights, the aggregate Purchase
        Rights which the Holder could have acquired if the Holder had held the number
        of
        Ordinary Shares underlying the ADRs acquirable upon complete conversion of
        this
        Note (without taking into account any limitations or restrictions on the
        convertibility of this Note) immediately before the date on which a record
        is
        taken for the grant, issuance or sale of such Purchase Rights, or, if no
        such
        record is taken, the date as of which the record holders of Ordinary Shares
        are
        to be determined for the grant, issue or sale of such Purchase
        Rights.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Other
        Corporate Events</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        In
        addition to and not in substitution for any other rights hereunder, prior
        to the
        consummation of any Fundamental Transaction pursuant to which holders of
        ADRs or
        Ordinary Shares are entitled to receive securities or other assets with respect
        to or in exchange for ADRs or Ordinary Shares (a &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Corporate
        Event</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        the
        Company shall make appropriate provision, to the extent not prohibited by
        applicable law, to insure that the Holder will thereafter have the right
        to
        receive upon a conversion of this Note, (i)&#160;in addition to the ADRs
        receivable upon such conversion, such securities or other assets to which
        the
        Holder would have been entitled with respect to such ADRs had such ADRs been
        held by the Holder upon the consummation of such Corporate Event (without
        taking
        into account any limitations or restrictions on the convertibility of this
        Note)
        or (ii)&#160;in lieu of the ADRs otherwise receivable upon such conversion,
        such
        securities or other assets received by the holders of ADRs or Ordinary Shares
        in
        connection with the consummation of such Corporate Event in such amounts
        as the
        Holder would have been entitled to receive had this Note initially been issued
        with conversion rights for the form of such consideration (as opposed to
        ADRs)
        at a conversion rate for such consideration commensurate with the Conversion
        Rate. Provision made pursuant to the preceding sentence shall be in a form
        and
        substance satisfactory to the Required Holders. The provisions of this Section
        shall apply similarly and equally to successive Corporate Events and shall
        be
        applied without regard to any limitations on the conversion or redemption
        of
        this</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(7)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>RIGHTS
        UPON ISSUANCE OF OTHER SECURITIES</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Adjustment
        of Conversion Price upon Issuance of Ordinary Shares</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If and
        whenever on or after the Subscription Date, the Company issues or sells,
        or in
        accordance with this Section 7(a) is deemed to have issued or sold, any Ordinary
        Shares (including those underlying any ADRs and the issuance or sale of Ordinary
        Shares owned or held by or for the account of the Company, but excluding
        Ordinary Shares deemed to have been issued or sold by the Company in connection
        with any Excluded Security) for a consideration per Ordinary Share (the
&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>New
        Issuance Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        less
        than a price (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Applicable
        Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        equal
        to (i)&#160;one-tenth (1/10th) of the Conversion Price (in the case of
        ADRs) or
        (ii)&#160;the Conversion Price (in the case that the Conversion Price is
        determined by reference to the Ordinary Shares) in effect immediately prior
        to
        such issue or sale (the foregoing a &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Dilutive
        Issuance</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        then
        immediately after such Dilutive Issuance, the Conversion Price then in effect
        shall be reduced to an amount equal to the product of (A)&#160;the Conversion
        Price in effect immediately prior to such Dilutive Issuance and (B)&#160;the
        quotient determined by dividing (1)&#160;the sum of (I)&#160;the product
        derived
        by multiplying the Conversion Price in effect immediately prior to such Dilutive
        Issuance and the number of Ordinary Shares Deemed Outstanding immediately
        prior
        to such Dilutive Issuance plus (II)&#160;the consideration, if any, received
        by
        the Company upon such Dilutive Issuance, by (2)&#160;the product derived
        by
        multiplying (I)&#160;the Conversion Price in effect immediately prior to
        such
        Dilutive Issuance by (II)&#160;the number of Ordinary Shares Deemed Outstanding
        immediately after such Dilutive Issuance. Appropriate and equitable adjustment
        to the terms and provisions of this Note shall be made in the event of any
        change to the ratio of ADRs to Ordinary Shares represented thereby. For purposes
        of determining the adjusted Conversion Price under this Section 7(a), the
        following shall be applicable:</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Issuance
        of Options</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If the
        Company in any manner grants or sells any Options and the lowest price per
        share
        for which one Ordinary Share is issuable upon the exercise of any such Option
        or
        upon conversion or exchange or exercise of any Convertible Securities issuable
        upon exercise of such Option is less than the Applicable Price, then such
        Ordinary Share shall be deemed to be outstanding and to have been issued
        and
        sold by the Company at the time of the granting or sale of such Option for
        such
        price per share. For purposes of this Section 7(a)(i), the &#8220;lowest price per
        share for which one Ordinary Share is issuable upon the exercise of any such
        Option or upon conversion or exchange or exercise of any Convertible Securities
        issuable upon exercise of such Option&#8221; shall be equal to the sum of the lowest
        amounts of consideration (if any) received or receivable by the Company with
        respect to any one Ordinary Share upon granting or sale of the Option, upon
        exercise of the Option and upon conversion or exchange or exercise of any
        Convertible Security issuable upon exercise of such Option. No further
        adjustment of the Conversion Price shall be made upon the actual issuance
        of
        such Ordinary Shares or of such Convertible Securities upon the exercise
        of such
        Options or upon the actual issuance of such Ordinary Shares upon conversion
        or
        exchange or exercise of such Convertible Securities.</font></div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Issuance
        of Convertible Securities</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If the
        Company in any manner issues or sells any Convertible Securities and the
        lowest
        price per share for which one Ordinary Share is issuable upon such conversion
        or
        exchange or exercise thereof is less than the Applicable Price, then such
        Ordinary Share shall be deemed to be outstanding and to have been issued
        and
        sold by the Company at the time of the issuance of sale of such Convertible
        Securities for such price per share. For the purposes of this Section 7(a)(ii),
        the &#8220;price per share for which one Ordinary Share is issuable upon such
        conversion or exchange or exercise&#8221; shall be equal to the sum of the lowest
        amounts of consideration (if any) received or receivable by the Company with
        respect to any one Ordinary Share upon the issuance or sale of the Convertible
        Security and upon the conversion or exchange or exercise of such Convertible
        Security. No further adjustment of the Conversion Price shall be made upon
        the
        actual issuance of such Ordinary Shares upon conversion or exchange or exercise
        of such Convertible Securities, and if any such issue or sale of such
        Convertible Securities is made upon exercise of any Options for which adjustment
        of the Conversion Price had been or are to be made pursuant to other provisions
        of this Section 7(a), no further adjustment of the Conversion Price shall
        be
        made by reason of such issue or sale.</font></div>
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      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iii)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Change
        in Option Price or Rate of Conversion</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If the
        purchase price provided for in any Options, the additional consideration,
        if
        any, payable upon the issue, conversion, exchange or exercise of any Convertible
        Securities, or the rate at which any Convertible Securities are convertible
        into
        or exchangeable or exercisable for Ordinary Shares changes at any time, the
        Conversion Price in effect at the time of such change shall be adjusted to
        the
        Conversion Price which would have been in effect at such time had such Options
        or Convertible Securities provided for such changed purchase price, additional
        consideration or changed conversion rate, as the case may be, at the time
        initially granted, issued or sold. For purposes of this Section 7(a)(iii),
        if
        the terms of any Option or Convertible Security that was outstanding as of
        the
        Subscription Date are changed in the manner described in the immediately
        preceding sentence, then such Option or Convertible Security and the Ordinary
        Shares deemed issuable upon exercise, conversion or exchange thereof shall
        be
        deemed to have been issued as of the date of such change. No adjustment shall
        be
        made if such adjustment would result in an increase of the Conversion Price
        then
        in effect.</font></div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iv)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Calculation
        of Consideration Received</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        In case
        any Option is issued in connection with the issue or sale of other securities
        of
        the Company, together comprising one integrated transaction in which no specific
        consideration is allocated to such Options by the parties thereto, the Options
        will be deemed to have been issued for a consideration of $.01. If any Ordinary
        Shares, Options or Convertible Securities are issued or sold or deemed to
        have
        been issued or sold for cash, the consideration received therefor will be
        deemed
        to be the gross amount paid by the purchaser therefor. If any Ordinary Shares,
        Options or Convertible Securities are issued or sold for a consideration
        other
        than cash, the amount of the consideration other than cash received by the
        Company will be the fair value of such consideration, except where such
        consideration consists of securities, in which case the amount of consideration
        received by the Company will be the Closing Sale Price of such securities
        on the
        date of receipt. If any Ordinary Shares, Options or Convertible Securities
        are
        issued to the owners of the non-surviving entity in connection with any merger
        in which the Company is the surviving entity, the amount of consideration
        therefor will be deemed to be the fair value of such portion of the net assets
        and business of the non-surviving entity as is attributable to such Ordinary
        Shares, Options or Convertible Securities, as the case may be. The fair value
        of
        any consideration other than cash or securities will be determined in good
        faith
        by the Board of Directors of the Company.</font></div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(v)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Record
        Date</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If the
        Company takes a record of the holders of Ordinary Shares for the purpose
        of
        entitling them (A)&#160;to receive a dividend or other distribution payable
        in
        Ordinary Shares, Options or in Convertible Securities or (B)&#160;to subscribe
        for or purchase Ordinary Shares, Options or Convertible Securities, then
        such
        record date will be deemed to be the date of the issue or sale of the Ordinary
        Shares deemed to have been issued or sold upon the declaration of such dividend
        or the making of such other distribution or the date of the granting of such
        right of subscription or purchase, as the case may be.</font></div>
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      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
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      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Adjustment
        of Conversion Price upon Pro Rata Bonus Issue of Ordinary Shares</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If the
        Company makes a pro rata bonus issue of Ordinary Shares to its shareholders
        prior to conversion of the Note, and the Note is not converted prior to the
        record date for the issue, the Note will, when converted, entitle the holder
        to
        the number of ADRs that would ordinarily be received under Section 3, plus
        the
        number of bonus Ordinary Shares which would have been issued to the Holder
        if
        the Note had been converted prior to the record date.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Adjustment
        of Conversion Price upon Subdivision or Combination of Ordinary
        Shares</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If the
        Company at any time on or after the Subscription Date subdivides (by any
        share
        split, share dividend, recapitalization or otherwise) one or more classes
        of its
        outstanding ADRs (or Ordinary Shares underlying such ADRs) into a greater
        number
        of ADRs (or Ordinary Shares), the Conversion Price in effect immediately
        prior
        to such subdivision will be proportionately reduced. If the Company at any
        time
        on or after the Subscription Date combines (by combination, reverse share
        split
        or otherwise) one or more classes of its outstanding ADRs (or Ordinary Shares)
        into a smaller number of ADRs (or Ordinary Shares), the Conversion Price
        in
        effect immediately prior to such combination will be proportionately increased.
        Any adjustment under this Section 7(d) shall be subject to (and will be
        correspondingly reorganised in a manner which is permissible under, or necessary
        to comply with) the ASX Listing Rules or the rules of any Eligible Market
        in
        force at the relevant time and shall become effective at the close of business
        on the date the subdivision or combination becomes effective.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Capital
        reorganizations</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If
        there is a reorganisation of the capital of the Company, the number of ADRs
        applicable to the Note and/or the Conversion Price of the Note will be
        correspondingly reorganised in a manner, which is permissible under, or
        necessary to comply, with the ASX Listing Rules or the rules of any other
        Eligible Market in force at the relevant time. Subject to the above, if there
        is
        a reorganisation of the capital of the Company, the number of ADRs applicable
        to
        the Note or the Conversion Price or both will be reorganised so that the
        Holder
        of the Note will not receive a benefit that holders of Ordinary Shares do
        not
        receive. The Company shall give notice to the Holder of the Note of any
        adjustments to the number of ADRs which are to be issued on conversion of
        the
        Note or to the Conversion Price. Before a Note is converted, all adjustment
        calculations are to be carried out including all fractions (in relation to
        each
        of the number of ADRs applicable to the Note and the Conversion Price), but
        on
        conversion the number of ADRs issued is rounded down to the next lower whole
        number and the Conversion Price rounded up to the next higher cent.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Other
        Events</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If any
        event occurs of the type contemplated by the provisions of this Section 7
        but
        not expressly provided for by such provisions (including, without limitation,
        the granting of share appreciation rights, phantom share rights or other
        rights
        with equity features), then the Company&#8217;s Board of Directors will make an
        appropriate adjustment in the Conversion Price so as to protect the rights
        of
        the Holder under this Note; provided that no such adjustment will increase
        the
        Conversion Price as otherwise determined pursuant to this Section
        7.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(f)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Adjustment</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If on
        the seventh month anniversary of the Issuance Date, the Subsequent Conversion
        Price is less than the then applicable Conversion Price, then the Conversion
        Price shall be reset to the Subsequent Conversion Price.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(8)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>HOLDER&#8217;S
        RIGHT OF OPTIONAL REDEMPTION</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        In the
        event that the arithmetic average of the Weighted Average Price of the ADRs
        over
        the ten (10) Trading Days ending on the Trading Day immediately preceding
        each
        of the one (1) year anniversary of the Subscription Date, the eighteen (18)
        month anniversary of the Subscription Date and the two (2) year anniversary
        of
        the Subscription Date (each an &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Optional
        Redemption Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        is
        less than the then applicable Conversion Price, the Holder shall have the
        right,
        in its sole discretion, to require that the Company redeem (each a &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Holder
        Optional Redemption</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        up to
        one third of the original Principal amount of the Note plus accrued and unpaid
        Interest with respect to such Principal and accrued and unpaid Late Charges
        with
        respect to such principal and Interest (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Optional
        Redemption Amount</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        by
        delivering written notice thereof (a &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Holder
        Optional Redemption Notice</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        and,
        collectively with the Event of Default Redemption Notice and the Change of
        Control Redemption Notice, the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Redemption
        Notices</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        and
        each a &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Redemption
        Notice</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        to the
        Company no later than ten Business Days after the applicable Optional Redemption
        Date. The Holder Optional Redemption Notice shall indicate the amount of
        the
        applicable Optional Redemption Amount the Holder is electing to have redeemed
        on
        such Optional Redemption Exercise Date (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Holder
        Optional Redemption Amount</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        and
        the date of such redemption (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Optional
        Redemption Exercise Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;);
        </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>provided</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>however</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        that
        (a)&#160;such Holder Optional Redemption Amount indicated shall not exceed
        the
        Optional Redemption Amount and (b)&#160;such Optional Redemption Exercise
        Date
        shall not be less than ten (10) Business Days after the date of delivery
        of such
        Holder Optional Redemption Notice. The portion of this Note subject to
        redemption pursuant to this Section 8 shall be redeemed by the Company in
        cash
        on the applicable Optional Redemption Date at a price equal to the Holder
        Optional Redemption Amount being redeemed (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Holder
        Optional Redemption Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        and,
        collectively with the Event of Default Redemption Price and the Change of
        Control Redemption Price, the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Redemption
        Prices</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        and,
        each a &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Redemption
        Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Such
        Holder covenants that it will comply with Section 2(j) of the Securities
        Purchase Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(9)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>COMPANY&#8217;S
        RIGHT OF MANDATORY CONVERSION</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Mandatory
        Conversion</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If at
        any time from and after the sixtieth (60th) day after the Effective Date
        (as
        defined in the Registration Statement) (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Mandatory
        Conversion Eligibility Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        (i)&#160;the Weighted Average Price of the ADRs exceed for each of any
        twenty
        (20) out of twenty-five (25) consecutive Trading Days following the Mandatory
        Conversion Eligibility Date (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Mandatory
        Conversion Measuring Period</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        200%
        of the applicable Conversion Price (subject to appropriate adjustments for
        share
        splits, share dividends, share combinations and other similar transactions
        after
        the Subscription Date) and (ii)&#160;the Equity Conditions shall have been
        satisfied (or waived in writing by the Holder), during the period commencing
        on
        the Mandatory Conversion Notice Date through the applicable Mandatory Conversion
        Date (each, as defined below), the Company shall have the right to require
        the
        Holder to convert all, or any portion, of the Conversion Amount then remaining
        under this Note as designated in the Mandatory Conversion Notice into fully
        paid, validly issued and nonassessable ADRs in accordance with Section 3(c)
        hereof at the Conversion Rate as of the Mandatory Conversion Date (a
&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Mandatory
        Conversion</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;).
        The
        Company may exercise its right to require conversion under this Section 9(a)
        by
        delivering within not more than three (3) Business Days following the end
        of any
        such Mandatory Conversion Measuring Period a written notice thereof by facsimile
        and overnight courier to all, but not less than all, of the holders of Notes
        and
        the Transfer Agent (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Mandatory
        Conversion Notice</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        and the
        date all of the holders received such notice is referred to as the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Mandatory
        Conversion Notice Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;).
        The
        Mandatory Conversion Notice shall be irrevocable. The Mandatory Conversion
        Notice shall state (i)&#160;the Business Day selected for the Mandatory
        Conversion in accordance with this Section 9(a), which Business Day shall
        be at
        least twenty (20) Business Days but not more than sixty (60) Business Days
        following the Mandatory Conversion Notice Date (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Mandatory
        Conversion Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        (ii)&#160;the aggregate Conversion Amount of the Notes subject to mandatory
        conversion from all of the holders of the Notes pursuant to this Section
        9 (and
        analogous provisions under the Other Notes) and (iii)&#160;the number of
        ADRs to
        be issued to such Holder on the Mandatory Conversion Date.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Pro
        Rata Conversion Requirement</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If the
        Company elects to cause a conversion of any Conversion Amount of this Note
        pursuant to Section 9(a), then it must simultaneously take the same action
        in
        the same proportion with respect to the Other Notes. All Conversion Amounts
        converted by the Holder after the Mandatory Conversion Notice Date shall
        reduce
        the Conversion Amount of this Note required to be converted on the Mandatory
        Conversion Date. If the Company has elected a Mandatory Conversion, the
        mechanics of conversion set forth in Section 3(c) shall apply, to the extent
        applicable, as if the Company and the Transfer Agent had received from the
        Holder on the Mandatory Conversion Date a Conversion Notice with respect
        to the
        Conversion Amount being converted pursuant to the Mandatory
        Conversion.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(10)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>[RESERVED]</u></font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(11)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>NONCIRCUMVENTION</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company hereby covenants and agrees that the Company will not, by amendment
        of
        its Constitution, Bylaws or through any reorganization, transfer of assets,
        consolidation, merger, scheme of arrangement, dissolution, issue or sale
        of
        securities, or any other voluntary action, avoid or seek to avoid the observance
        or performance of any of the terms of this Note, and will at all times in
        good
        faith carry out all of the provisions of this Note and take all action as
        may be
        required to protect the rights of the Holder of this Note. Without limiting
        the
        generality of the foregoing, the Company (i)&#160;shall not increase the
        par
        value of any Ordinary Shares underlying the Conversion Shares receivable
        upon
        the conversion of this Note above the Conversion Price then in effect and
        (ii)&#160;shall take all such actions as may be necessary or appropriate
        in
        order that the Company may validly and legally issue fully paid and
        nonassessable Conversion Shares upon the conversion of this Note.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
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        TO PERMITTED SENIOR INDEBTEDNESS</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Subordination</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        indebtedness represented by this Note and the payment of any Principal,
        Interest, Late Charges, redemption amount, liquidated damages, fees, expenses
        or
        any other amounts in respect of this Note (collectively, the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Subordinated
        Indebtedness</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        is
        hereby expressly made subordinate and junior and subject in right of payment,
        only to the extent expressly set forth in Section 12(b) hereof, to the prior
        payment in full of all Permitted Senior Indebtedness of the Company hereinafter
        incurred.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Payment
        upon Dissolution, Etc.</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        In the
        event of any bankruptcy, insolvency, reorganization, receivership, composition,
        assignment for benefit of creditors or other similar proceeding initiated
        by or
        against the Company or any dissolution or winding up or total or partial
        liquidation or reorganization in bankruptcy of the Company (each, a
&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Proceeding</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        all
        principal, interest and other obligations due upon any Permitted Senior
        Indebtedness shall first be paid in full or fully cash collateralized before
        the
        Holder shall be entitled to receive or, if received, to retain any payment
        or
        distribution on account of this Note and, during the continuance of any such
        Proceeding, any payment or distribution of assets of the Company of any kind
        or
        character, whether in cash, property or securities, to which the Holder would
        be
        entitled with respect to any Subordinated Indebtedness but for the provisions
        of
        this Section 12 shall be paid by the Company or by any receiver, trustee
        in
        bankruptcy, liquidating trustee, agent or other Person making such payment
        or
        distribution, or by the Holder who shall have received such payment or
        distribution, directly to the holders of the Permitted Senior Indebtedness
        (pro
        rata to each such holder on the basis of the respective amounts of such
        Permitted Senior Indebtedness held by such holder) or their representatives
        to
        the extent necessary to pay all such Permitted Senior Indebtedness in full
        after
        giving effect to any concurrent payment or distribution to or for the holders
        of
        such Permitted Senior Indebtedness, before any payment or distribution is
        made
        to the Holder or any holders of the Notes; </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>provided</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>however</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        that
        notwithstanding anything to the contrary, in any event the Holder shall be
        entitled to receive and retain any and all Junior Securities (as defined
        below).</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Certain
        Rights</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Nothing
        contained in this Section 12 or elsewhere in this Note or any other Transaction
        Document, is intended to or shall impair, as among the Company, its creditors
        including the holders of Permitted Senior Indebtedness and the Holder, the
        right, which is absolute and unconditional, of the Holder to convert this
        Note
        in accordance herewith.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Rights
        of Holder Unimpaired</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        provisions of this Section 12 are and are intended solely for the purposes
        of
        defining the relative rights of the Holder and the holders of Permitted Senior
        Indebtedness and nothing in this Section 12 shall impair, as between the
        Company
        and the Holder, the obligation of the Company, which is unconditional and
        absolute, to pay to the Holder the Principal hereof (and premium, if any),
        accrued Interest hereon and all other Subordinated Indebtedness payable
        hereunder, all in accordance with the terms of this Note.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Junior
        Securities</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        As used
        herein, &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Junior
        Securities</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        debt or equity securities of the Company as reorganized or readjusted, or
        debt
        or equity securities of the Company or any other Person provided for by a
        plan
        of reorganization or readjustment authorized by an order or decree of a court
        of
        competent jurisdiction in a Proceeding under any applicable law, so long
        as in
        the case of debt securities, such Junior Securities are subordinated in right
        of
        payment to all Permitted Senior Indebtedness and to whatever is issued to
        the
        holders of the Permitted Senior Indebtedness on account of the Permitted
        Senior
        Indebtedness, to the same extent as, or to a greater extent than, the
        Subordinated Indebtedness is so subordinated as provided for
        herein.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(f)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Intercreditor
        Arrangements</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        In the
        event that a holder of Permitted Senior Indebtedness shall require the holders
        of the Notes to enter into any intercreditor or subordination agreement or
        any
        similar arrangements, the Company shall reimburse the Holder for any reasonable
        expenses incurred in connection with the negotiation, execution and delivery
        of
        any such agreement (and any related documents), including without limitation,
        reasonable legal fees and expenses.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(g)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Lien
        Subordination</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Any
        Lien of Holder, whether now or hereafter existing in connection with the
        amounts
        due under this Note, on any assets or property of Company or any proceeds
        or
        revenues therefrom which Holder may have at any time as security for any
        amounts
        due and obligations under this Note shall be subordinate to all Liens hereafter
        granted to a holder of Permitted Senior Indebtedness by Company or by law,
        notwithstanding the date, order or method of attachment or perfection of
        any
        such Lien or the provisions of any applicable law.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(13)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>HOLDER&#8217;S
        REDEMPTIONS</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Mechanics</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company shall deliver the applicable Event of Default Redemption Price to
        the
        Holder within ten (10) Business Days after the Company&#8217;s receipt of the Holder&#8217;s
        Event of Default Redemption Notice. If the Holder has submitted a Change
        of
        Control Redemption Notice in accordance with Section 5(b), the Company shall
        deliver the applicable Change of Control Redemption Price to the Holder on
        the
        later of (i)&#160;concurrently with the consummation of such Change of
        Control
        or (ii)&#160;within ten (10) Business Days after the Company&#8217;s receipt of such
        notice. In the event of a redemption of less than all of the Conversion Amount
        of this Note, the Company shall promptly cause to be issued and delivered
        to the
        Holder a new Note (in accordance with Section 19(d)) representing the
        outstanding Principal which has not been redeemed. In the event that the
        Company
        does not pay the applicable Redemption Price to the Holder within the time
        period required, at any time thereafter and until the Company pays such unpaid
        Redemption Price in full, the Holder shall have the option, in lieu of
        redemption, to require the Company to promptly return to the Holder all or
        any
        portion of this Note representing the Conversion Amount that was submitted
        for
        redemption and for which the applicable Redemption Price (together with any
        Late
        Charges thereon) has not been paid. Upon the Company&#8217;s receipt of such notice,
        (x)&#160;the Redemption Notice shall be null and void with respect to such
        Conversion Amount, (y)&#160;the Company shall immediately return this Note,
        or
        issue a new Note (in accordance with Section 19(d)) to the Holder representing
        such Conversion Amount and (z)&#160;the Conversion Price of this Note or
        such
        new Notes shall be adjusted to the lesser of (A)&#160;the Conversion Price
        as in
        effect on the date on which the Redemption Notice is voided and (B)&#160;the
        lowest Closing Bid Price of the ADRs during the period beginning on and
        including the date on which the Redemption Notice is delivered to the Company
        and ending on and including the date on which the Redemption Notice is voided.
        The Holder&#8217;s delivery of a notice voiding a Redemption Notice and exercise of
        its rights following such notice shall not affect the Company&#8217;s obligations to
        make any payments of Late Charges which have accrued prior to the date of
        such
        notice with respect to the Conversion Amount subject to such
        notice.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Redemption
        by Other Holders</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Upon
        the Company&#8217;s receipt of notice from any of the holders of the Other Notes for
        redemption or repayment as a result of an event or occurrence substantially
        similar to the events or occurrences described in Sections 4(b), Section
        5(b) or
        Section 8 (each, an &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Other
        Redemption Notice</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        the
        Company shall immediately forward to the Holder by facsimile a copy of such
        notice. If the Company receives a Redemption Notice and one or more Other
        Redemption Notices, during the seven (7) Business Day period beginning on
        and
        including the date which is three (3) Business Days prior to the Company&#8217;s
        receipt of the Holder&#8217;s Redemption Notice and ending on and including the date
        which is three (3) Business Days after the Company&#8217;s receipt of the Holder&#8217;s
        Redemption Notice and the Company is unable to redeem all principal, interest
        and other amounts designated in such Redemption Notice and such Other Redemption
        Notices received during such seven (7) Business Day period, then the Company
        shall redeem a pro rata amount from each holder of the Notes (including the
        Holder) based on the principal amount of the Notes submitted for redemption
        pursuant to such Redemption Notice and such Other Redemption Notices received
        by
        the Company during such seven (7) Business Day period.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(14)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>VOTING
        RIGHTS</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Holder shall have no voting rights as the holder of this Note, except as
        required by law, the </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Corporations
        Act </em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2001
        (Cth) and as expressly provided in this Note, or any other Transaction
        Documents.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(15)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>COVENANTS</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Rank</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        All
        payments due under this Note (a)&#160;shall rank </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>pari
        passu</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        with all
        Other Notes and all Permitted Indebtedness (other than Senior Indebtedness
        and
        Permitted Indebtedness described in clause (B) of the definition thereof)
        and
        (b)&#160;shall be senior to all other Indebtedness of the Company and its
        Subsidiaries other than Permitted Senior Indebtedness.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Incurrence
        of Indebtedness</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        So long
        as this Note is outstanding, the Company shall not, and the Company shall
        not
        permit any of its Subsidiaries to, directly or indirectly, incur or guarantee,
        assume or suffer to exist any Indebtedness, other than (i)&#160;the Indebtedness
        evidenced by this Note and the Other Notes and (ii)&#160;Permitted
        Indebtedness.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Existence
        of Liens</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        So long
        as this Note is outstanding, the Company shall not, and the Company shall
        not
        permit any of its Subsidiaries to, directly or indirectly, allow or suffer
        to
        exist any mortgage, lien, pledge, charge, security interest or other encumbrance
        upon or in any property or assets (including accounts and contract rights)
        owned
        by the Company or any of its Subsidiaries (collectively, &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Liens</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        other
        than Permitted Liens.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Restricted
        Payments</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company shall not, and the Company shall not permit any of its Subsidiaries
        to,
        directly or indirectly, redeem, defease, repurchase, repay or make any payments
        in respect of, by the payment of cash or cash equivalents (in whole or in
        part,
        whether by way of open market purchases, tender offers, private transactions
        or
        otherwise), all or any portion of any Permitted Indebtedness whether by way
        of
        payment in respect of principal of (or premium, if any) or interest on such
        Indebtedness if at the time such payment is due or is otherwise made or,
        after
        giving effect to such payment, an event constituting, or that with the passage
        of time and without being cured would constitute, an Event of Default has
        occurred and is continuing.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Net
        Cash Balance</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        So long
        as this Note is outstanding, the Company shall at all times maintain a Net
        Cash
        Balance in excess of 30% of the aggregate remaining unamortized or un-converted
        Principal amount of Notes then outstanding (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Net
        Cash Balance Test</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;).
        Promptly after any date on which the Net Cash Balance Test is not satisfied
        (a
&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Failure
        Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        and
        to the extent such failure constitutes non-public material information the
        Company shall publicly disclose (on a Current Report on Form 6-K or otherwise)
        such material non-public information and provide to the Holder a certification
        as to the amount of the Net Cash Balance as of the Failure Date.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
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      </div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(16)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>PARTICIPATION</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Holder, as the holder of this Note, shall be entitled to receive such dividends
        paid (other than cash dividends) and distributions made to the holders of
        ADRs
        or Ordinary Shares to the same extent as if the Holder had converted this
        Note
        into ADRs (without regard to any limitations on conversion herein or elsewhere)
        and had held such ADRs on the record date for such dividends and distributions.
        Payments under the preceding sentence shall be made concurrently with the
        dividend or distribution to the holders of ADRs or Ordinary Shares.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(17)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>VOTE
        TO ISSUE, OR CHANGE THE TERMS OF, NOTES</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        affirmative vote at a meeting duly called for such purpose or the written
        consent without a meeting of the Required Holders shall be required for any
        change or amendment to this Note or the Other Notes.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(18)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>TRANSFER</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        This
        Note and any ADRs issued upon conversion of this Note may be offered, sold,
        assigned or transferred by the Holder without the consent of the Company,
        subject only to the provisions of Section 2(f) of the Securities Purchase
        Agreement.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(19)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>REISSUANCE
        OF THIS NOTE</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Transfer</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If this
        Note is to be transferred, the Holder shall surrender this Note to the Company,
        whereupon the Company will forthwith issue and deliver upon the order of
        the
        Holder a new Note (in accordance with Section 19(d)), registered as the Holder
        may request, representing the outstanding Principal being transferred by
        the
        Holder and, if less then the entire outstanding Principal is being transferred,
        a new Note (in accordance with Section 19(d)) to the Holder representing
        the
        outstanding Principal not being transferred. The Holder and any assignee,
        by
        acceptance of this Note, acknowledge and agree that, by reason of the provisions
        of Section 3(c)(iii) following conversion or redemption of any portion of
        this
        Note, the outstanding Principal represented by this Note may be less than
        the
        Principal stated on the face of this Note.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Lost,
        Stolen or Mutilated Note</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Upon
        receipt by the Company of evidence reasonably satisfactory to the Company
        of the
        loss, theft, destruction or mutilation of this Note, and, in the case of
        loss,
        theft or destruction, of any indemnification undertaking by the Holder to
        the
        Company in customary form and, in the case of mutilation, upon surrender
        and
        cancellation of this Note, the Company shall execute and deliver to the Holder
        a
        new Note (in accordance with Section 19(d)) representing the outstanding
        Principal.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Note
        Exchangeable for Different Denominations</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        This
        Note is exchangeable, upon the surrender hereof by the Holder at the principal
        office of the Company, for a new Note or Notes (in accordance with Section
        19(d)
        and in principal amounts of at least $100,000) representing in the aggregate
        the
        outstanding Principal of this Note, and each such new Note will represent
        such
        portion of such outstanding Principal as is designated by the Holder at the
        time
        of such surrender.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-20-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
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      </div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Issuance
        of New Notes</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Whenever the Company is required to issue a new Note pursuant to the terms
        of
        this Note, such new Note (i)&#160;shall be of like tenor with this Note,
        (ii)&#160;shall represent, as indicated on the face of such new Note, the
        Principal remaining outstanding (or in the case of a new Note being issued
        pursuant to Section 19(a) or Section 19(c), the Principal designated by the
        Holder which, when added to the principal represented by the other new Notes
        issued in connection with such issuance, does not exceed the Principal remaining
        outstanding under this Note immediately prior to such issuance of new Notes),
        (iii)&#160;shall have an issuance date, as indicated on the face of such
        new
        Note, which is the same as the Issuance Date of this Note, (iv)&#160;shall
        have
        the same rights and conditions as this Note, and (v)&#160;shall represent
        accrued and unpaid Interest and Late Charges on the Principal and Interest
        of
        this Note, from the Issuance Date.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(20)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>REMEDIES,
        CHARACTERIZATIONS, OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE
        RELIEF</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        remedies provided in this Note shall be cumulative and in addition to all
        other
        remedies available under this Note and any of the other Transaction Documents
        at
        law or in equity (including a decree of specific performance and/or other
        injunctive relief), and nothing herein shall limit the Holder&#8217;s right to pursue
        actual and consequential damages for any failure by the Company to comply
        with
        the terms of this Note. Amounts set forth or provided for herein with respect
        to
        payments, conversion and the like (and the computation thereof) shall be
        the
        amounts to be received by the Holder and shall not, except as expressly provided
        herein, be subject to any other obligation of the Company (or the performance
        thereof). The Company acknowledges that a breach by it of its obligations
        hereunder will cause irreparable harm to the Holder and that the remedy at
        law
        for any such breach may be inadequate. The Company therefore agrees that,
        in the
        event of any such breach or threatened breach, the Holder shall be entitled,
        in
        addition to all other available remedies, to an injunction restraining any
        breach, without the necessity of showing economic loss and without any bond
        or
        other security being required.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(21)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>PAYMENT
        OF COLLECTION, ENFORCEMENT AND OTHER COSTS</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If
        (a)&#160;this Note is placed in the hands of an attorney for collection
        or
        enforcement or is collected or enforced through any legal proceeding or the
        Holder otherwise takes action to collect amounts due under this Note or to
        enforce the provisions of this Note or (b)&#160;there occurs any bankruptcy,
        reorganization, receivership of the Company or other proceedings affecting
        Company creditors&#8217; rights and involving a claim under this Note, then the
        Company shall pay the costs incurred by the Holder for such collection,
        enforcement or action or in connection with such bankruptcy, reorganization,
        receivership or other proceeding, including, but not limited to, attorneys&#8217; fees
        and disbursements.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(22)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>CONSTRUCTION;
        HEADINGS</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        This
        Note shall be deemed to be jointly drafted by the Company and all the Purchasers
        and shall not be construed against any person as the drafter hereof. The
        headings of this Note are for convenience of reference and shall not form
        part
        of, or affect the interpretation of, this Note.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(23)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>FAILURE
        OR INDULGENCE NOT WAIVER</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        No
        failure or delay on the part of the Holder in the exercise of any power,
        right
        or privilege hereunder shall operate as a waiver thereof, nor shall any single
        or partial exercise of any such power, right or privilege preclude other
        or
        further exercise thereof or of any other right, power or privilege.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
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          </div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(24)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>DISPUTE
        RESOLUTION</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        In the
        case of a dispute as to the determination of the Closing Bid Price, the Closing
        Sale Pri</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ce
        or the
        Weighted Average Price or the arithmetic calculation of the Conversion Rate
        or
        the Redemption Price, the Company shall submit the disputed determinations
        or
        arithmetic calculations via facsimile within two (2) Business Days of receipt,
        or deemed receipt, of the Conversion Notice or Redemption Notice or other
        event
        giving rise to such dispute, as the case may be, to the Holder. If the Holder
        and the Company are unable to agree upon such determination or calculation
        within two (2) Business Days of such disputed determination or arithmetic
        calculation being submitted to the Holder, then the Company shall, within
        two
        Business Days submit via facsimile (a)&#160;the disputed determination
        of the
        Closing Bid Price, the Closing Sale Price or the Weighted Average Price to
        an
        independent, reputable investment bank selected by the Company and approved
        by
        the Holder or (b)&#160;the disputed arithmetic calculation of the Conversion
        Rate or the Redemption Price to the Company&#8217;s independent, outside accountant.
        The Company, at the Company&#8217;s expense, shall cause the investment bank or the
        accountant, as the case may be, to perform the determinations or calculations
        and notify the Company and the Holder of the results no later than seven
        (7)
        Business Days from the time it receives the disputed determinations or
        calculations. Such investment bank&#8217;s or accountant&#8217;s determination or
        calculation, as the case may be, shall be binding upon all parties absent
        demonstrable error.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(25)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>NOTICES;
        CURRENCY; PAYMENTS</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Notices</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Whenever notice is required to be given under this Note, unless otherwise
        provided herein, such notice shall be given in accordance with Section 9(f)
        of
        the Securities Purchase Agreement. The Company shall provide the Holder with
        prompt written notice of all actions taken pursuant to this Note, including
        in
        reasonable detail a description of such action and the reason therefore.
        Without
        limiting the generality of the foregoing, the Company will give written notice
        to the Holder (i)&#160;immediately upon any adjustment of the Conversion
        Price,
        setting forth in reasonable detail, and certifying, the calculation of such
        adjustment and (ii)&#160;at least twenty (20) days prior to the date on
        which
        the Company closes its books or takes a record (A)&#160;with respect to
        any
        dividend or distribution upon the ADRs or Ordinary Shares, (B)&#160;with
        respect
        to any pro rata subscription offer to holders of ADRs or Ordinary Shares
        or
        (C)&#160;for determining rights to vote with respect to any Fundamental
        Transaction, dissolution or liquidation, provided in each case that such
        information shall be made known to the public prior to or in conjunction
        with
        such notice being provided to the Holder.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Currency</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Unless
        otherwise indicated, all dollar amounts referred to in this Note are in United
        States Dollars.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Payments</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Whenever any payment of cash is to be made by the Company to any Person pursuant
        to this Note, such payment shall be made in lawful money of the United States
        of
        America by a check drawn on the account of the Company and sent via overnight
        courier service to such Person at such address as previously provided to
        the
        Company in writing (which address, in the case of each of the Purchasers,
        shall
        initially be as set forth on the Schedule of Buyers attached to the Securities
        Purchase Agreement); provided that the Holder may elect to receive a payment
        of
        cash via wire transfer of immediately available funds by providing the Company
        with prior written notice setting out such request and the Holder&#8217;s wire
        transfer instructions. Whenever any amount expressed to be due by the terms
        of
        this Note is due on any day which is not a Business Day, the same shall instead
        be due on the next succeeding day which is a Business Day and, in the case
        of
        any Interest Date which is not the date on which this Note is paid in full,
        the
        extension of the due date thereof shall not be taken into account for purposes
        of determining the amount of Interest due on such date. Any amount of Principal
        or other amounts due under the Transaction Documents, other than Interest,
        which
        is not paid when due shall result in a late charge being incurred and payable
        by
        the Company in an amount equal to interest on such amount at the rate of
        ten
        percent (10%) per annum from the date such amount was due until the same
        is paid
        in full (&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Late
        Charge</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;).</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-22-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(26)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>CANCELLATION</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        After
        all Principal, accrued Interest and other amounts at any time owed on this
        Note
        have been paid in full, this Note shall automatically be deemed canceled,
        shall
        be surrendered to the Company for cancellation and shall not be
        reissued.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(27)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>WAIVER
        OF NOTICE</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        To the
        extent permitted by law, the Company hereby waives demand, notice, protest
        and
        all other demands and notices in connection with the delivery, acceptance,
        performance, default or enforcement of this Note and the Securities Purchase
        Agreement.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(28)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>GOVERNING
        LAW</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        This
        Note shall be construed and enforced in accor-dance with, and all questions
        concerning the construction, validity, interpretation and performance of
        this
        Note shall be governed by, the internal laws of the State of New York, without
        giving effect to any choice of law or conflict of law provision or rule (whether
        of the State of New York or any other jurisdictions) that would cause the
        application of the laws of any jurisdictions other than the State of New
        York.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(29)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>CERTAIN
        DEFINITIONS</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        For
        purposes of this Note, the following terms shall have the following
        meanings:</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ADRs</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        the American Depositary Receipts of the Company evidencing the American
        Depositary Shares of the Company which each represent ten (10) Ordinary Shares
        or any successor securities. Appropriate and equitable adjustment to the
        terms
        and provisions of this Notes shall be made in the event of any change to
        the
        ratio of ADRs to Ordinary Shares.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Approved
        Stock Plan</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        any employee benefit plan which has been approved by the Board of Directors
        of
        the Company, pursuant to which the Company&#8217;s securities may be issued to any
        employee, officer, director or consultant for services provided to the
        Company.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ASX</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        the Australian Stock Exchange.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Bloomberg</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        Bloomberg Financial Markets.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Business
        Day</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        any day other than Saturday, Sunday or other day on which commercial banks
        in
        The City of New York, State of New York, U.S.A. or Perth, Australia are
        authorized or required by law to remain closed.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(f)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Calendar
        Quarter</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        each of: the period beginning on and including January 1 and ending on and
        including March 31; the period beginning on and including April 1 and ending
        on
        and including June 30; the period beginning on and including July 1 and ending
        on and including September 30; and the period beginning on and including
        October
        1 and ending on and including December 31.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(g)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Cash
        Equivalents</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        (i)&#160;securities issued, or directly and fully guaranteed or insured,
        by the
        government of the United States, Australia or the United Kingdom or any agency
        or instrumentality thereof having maturities of not more than one year from
        the
        date of the acquisition by a Person, (ii)&#160;demand deposits and time
        deposits
        and certificates of deposit, having maturities of not more than one year
        from
        the date of acquisition, of any domestic commercial bank which has, or the
        holding company of which has, a commercial paper rating meeting the requirements
        specified in clause (iv) below, (iii)&#160;repurchase obligations with
        a term of
        not more than 270 days for underlying securities of the types described in
        clauses (i) and (ii) entered into with any financial institution meeting
        the
        qualifications specified in clause (ii) above, and (iv)&#160;commercial
        paper
        rated at least A-2 or the equivalent thereof by Standard &amp; Poor&#8217;s Ratings
        Group or P-2 or the equivalent thereof by Moody&#8217;s Investors Service, Inc. and in
        either case maturing within one year after the date of acquisition.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(h)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Change
        of Control</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        any Fundamental Transaction other than (i)&#160;any consolidation, merger,
        combination, or any reorganization, recapitalization or reclassification
        of the
        Ordinary Shares pursuant to, which holders of the Company&#8217;s voting power
        immediately prior to such consolidation, merger, combination, reorganization,
        recapitalization or reclassification continue after such consolidation, merger,
        combination, reorganization, recapitalization or reclassification to hold
        publicly traded securities and, directly or indirectly, the voting power
        of the
        surviving entity or entities necessary to elect a majority of the members
        of the
        board of directors (or their equivalent if other than a corporation) of such
        entity or entities, or (ii)&#160;pursuant to a migratory merger effected
        solely
        for the purpose of changing the jurisdiction of incorporation of the
        Company.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Change
        of Control Premium</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        (i)&#160;until the 12-month anniversary of the Issuance Date, 120%,
        (ii)&#160;from and after the 12-month anniversary of the Issuance Date
        until the
        24-month anniversary of the Issuance Date, 115%, (iii)&#160;from and after
        the
        24-month anniversary of the Issuance Date until the 30-month anniversary
        of the
        Issuance Date, 110%, and (iv)&#160;after the 30-month anniversary of the
        Issuance Date, 105%.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(j)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Closing
        Bid Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        and
&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Closing
        Sale Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means,
        for any security as of any date, the last closing bid price and last closing
        trade price, respectively, for such security on the Principal Market, as
        reported by Bloomberg, or, if the Principal Market begins to operate on an
        extended hours basis and does not designate the closing bid price or the
        closing
        trade price, as the case may be, then the last bid price or last trade price,
        respectively, of such security prior to 4:00:00 p.m., New York Time, as reported
        by Bloomberg, or, if the Principal Market is not the principal securities
        exchange or trading market for such security, the last closing bid price
        or last
        trade price, respectively, of such security on the principal securities exchange
        or trading market where such security is listed or traded as reported by
        Bloomberg, or if the foregoing do not apply, the last closing bid price or
        last
        trade price, respectively, of such security in the over-the-counter market
        on
        the electronic bulletin board for such security as reported by Bloomberg,
        or, if
        no closing bid price or last trade price, respectively, is reported for such
        security by Bloomberg, the average of the bid prices, or the ask prices,
        respectively, of any market makers for such security as reported in the &#8220;pink
        sheets&#8221; by Pink Sheets LLC (formerly the National Quotation Bureau, Inc.). If
        the Closing Bid Price or the Closing Sale Price cannot be calculated for
        a
        security on a particular date on any of the foregoing bases, the Closing
        Bid
        Price or the Closing Sale Price, as the case may be, of such security on
        such
        date shall be the fair market value as mutually determined by the Company
        and
        the Holder. If the Company and the Holder are unable to agree upon the fair
        market value of such security, then such dispute shall be resolved pursuant
        to
        Section 24. All such determinations to be appropriately adjusted for any
        share
        dividend, share split, share combination or other similar transaction during
        the
        applicable calculation period.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
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          </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-24-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
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          </div>
        </div>
      </div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(k)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Closing
        Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        shall
        have the meaning set forth in the Securities Purchase Agreement, which date
        is
        the date the Company initially issued Notes pursuant to the terms of the
        Securities Purchase Agreement.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(l)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Consolidated
        Total Indebtedness</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means,
        with respect to any Person at any date, all Indebtedness of such Person
        determined on a consolidated basis in accordance with GAAP, including, in
        any
        event, with respect to the Company and its Subsidiaries, the outstanding
        principal amount of the Notes.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(m)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Consolidated
        Total Indebtedness to Market Capitalization Ratio</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        the ratio of Consolidated Total Indebtedness to Market
        Capitalization.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(n)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Convertible
        Securities</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        any shares or securities (other than Options)&#160;directly or indirectly
        convertible into or exercisable or exchangeable for Ordinary
        Shares.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(o)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Deposit
        Agreement</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        that certain Deposit Agreement, dated as of January 24, 2005, by and among
        the
        Company, the Depositary and the holders and beneficial owners from time to
        time
        of ADSs evidenced by ADRs issued pursuant to such agreement.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(p)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Depositary</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        Citibank, N.A. acting in such capacity under</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(q)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Eligible
        Market</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        the Principal Market, The New York Stock Exchange, Inc., the American Stock
        Exchange, or The Nasdaq SmallCap Market.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(r)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Equity
        Conditions</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means:
        (i)&#160;on each day during the period beginning on the date which is the
        later
        of (x)&#160;the earlier of (A)&#160;the Effectiveness Deadline and (B)&#160;the
        Effective Date and (y)&#160;one (1) month prior to the applicable date
        of
        determination and ending on and including the applicable date of determination
        (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Equity
        Conditions Measuring Period</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        either (x)&#160;the Registration Statement filed pursuant to the Registration
        Rights Agreement shall be effective and available for the resale of all
        remaining Registrable Securities in accordance with the terms of the
        Registration Rights Agreement and there shall not have been any Grace Periods
        (as defined in the Registration Rights Agreement) or (y)&#160;all ADRs
        issuable
        upon conversion of the Notes and exercise of the Warrants shall be eligible
        for
        sale without restriction and without the need for registration under any
        applicable federal or state securities laws; (ii)&#160;on each day during
        the
        Equity Conditions Measuring Period, the ADRs are designated for quotation
        on the
        Principal Market or an Eligible Market and shall not have been suspended
        from
        trading on such exchange or market (other than suspensions of not more than
        two
        (2) days and occurring prior to the applicable date of determination due
        to
        business announcements by the Company) nor shall delisting or suspension
        by such
        exchange or market been threatened or pending either (A)&#160;in writing
        by such
        exchange or market or (B)&#160;by falling below the minimum listing maintenance
        requirements of such exchange or market; (iii)&#160;during the Equity Conditions
        Measuring Period the Company shall have delivered Conversion Shares upon
        conversion of the Notes and ADRs upon exercise of the Warrants to the holders
        on
        a timely basis as set forth herein hereof (and analogous provisions under
        the
        Other Notes) and the Warrants; (iv)&#160;any applicable ADRs to be issued
        in
        connection with the event requiring determination may be issued in full without
        violating Section 3(d) hereof and the rules or regulations of the Principal
        Market or any applicable Eligible Market; (v)&#160;during the Equity Conditions
        Measuring Period, the Company shall not have failed to timely make any payments
        within five (5) Business Days of when such payment is due pursuant to any
        Transaction Document; (vi)&#160;during the Equity Conditions Measuring
        Period,
        there shall not have occurred either (A)&#160;the public announcement of
        a
        pending, proposed or intended Fundamental Transaction which has not been
        abandoned, terminated or consummated or (B)&#160;an Event of Default or
        an event
        that with the passage of time or giving of notice would constitute an Event
        of
        Default; (vii)&#160;the Company shall have no knowledge of any fact that
        would
        cause (x)&#160;the Registration Statements required pursuant to the Registration
        Rights Agreement not to be effective and available for the resale of all
        remaining Registrable Securities in accordance with the terms of the
        Registration Rights Agreement or (y)&#160;any ADRs issuable upon conversion
        of
        the Notes and ADRs issuable upon exercise of the Warrants not to be eligible
        for
        sale without restriction pursuant to Rule 144(k) and any applicable state
        securities laws; and (viii)&#160;during the Equity Conditions Measuring
        Period,
        the Company otherwise shall have been in material compliance with and shall
        not
        have materially breached or be in material breach of any material provision,
        covenant, representation or warranty of any Transaction Document.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
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        </div>
        <div id="HDR">
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          </div>
        </div>
      </div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
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        Securities</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        any Ordinary Shares issued or issuable: (i)&#160;in connection with any
        Approved
        Stock Plan; (ii)&#160;upon conversion of the Notes or the exercise of the
        Warrants; (iii)&#160;pursuant to a bona fide firm commitment underwritten
        public
        offering with a nationally recognized underwriter which generates gross proceeds
        to the Company in excess of $25,000,000 (other than an &#8220;at-the-market offering&#8221;
        as defined in Rule 415(a)(4) under the 1933 Act and &#8220;equity lines&#8221;);
        (iv)&#160;in connection with the payment of any Interest Shares on the
        Notes;
        (v)&#160;in connection with any acquisition by the Company, whether through
        an
        acquisition of shares or a merger of any business, assets or technologies
        the
        primary purpose of which is not to raise equity capital; (vi)&#160;upon
        conversion of any Options or Convertible Securities which are outstanding
        on the
        day immediately preceding the Subscription Date, provided that the terms
        of such
        Options or Convertible Securities are not amended, modified or changed on
        or
        after the Subscription Date; (vii)&#160;in replacement of outstanding Ordinary
        Shares as a result of the re-incorporation of the Company into the United
        States; (viii)&#160;in connection with any rights offering to all holders
        of
        Ordinary Shares generally; and (ix)&#160;in connection with a Strategic
        Financing.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(t)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Fundamental
        Transaction</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        that the Company shall, directly or indirectly, in one or more related
        transactions, (i)&#160;consolidate or merge with or into (whether or not
        the
        Company is the surviving corporation) another Person, or (ii)&#160;sell,
        assign,
        transfer, convey or otherwise dispose of all or substantially all of the
        properties or assets of the Company to another Person, or (iii)&#160;allow
        another Person to make a purchase, tender or exchange offer that is accepted
        by
        the holders of more than the 50% of the outstanding Ordinary Shares (not
        including any Ordinary Shares held by the Person or Persons making or party
        to,
        or associated or affiliated with the Persons making or party to, such purchase,
        tender or exchange offer), or (iv)&#160;consummate a share purchase agreement
        or
        other business combination (including, without limitation, a reorganization,
        recapitalization, spin-off or scheme of arrangement) with another Person
        whereby
        such other Person acquires more than the 50% of the outstanding Ordinary
        Shares
        (not including any Ordinary Shares held by the other Person or other Persons
        making or party to, or associated or affiliated with the other Persons making
        or
        party to, such share purchase agreement or other business combination), or
        (v)&#160;reorganize, recapitalize or reclassify its Ordinary
        Shares.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
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          </div>
        </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-26-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
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          </div>
        </div>
      </div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(u)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>GAAP</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        United States generally accepted accounting principles, consistently
        applied.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(v)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Holder
        Pro Rata Amount</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means a
        fraction (i)&#160;the numerator of which is the Principal amount of this
        Note on
        the Closing Date and (ii)&#160;the denominator of which is the aggregate
        principal amount of the Notes issued to the initial purchasers pursuant to
        the
        Securities Purchase Agreement on the Closing Date of all then outstanding
        Notes.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(w)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Interest
        Conversion Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means,
        with respect to any Interest Date, that price which shall be computed as
        85% of
        the arithmetic average of the Weighted Average Price of the ADRs on each
        of the
        ten (10) consecutive Trading Days ending on the Trading Day immediately
        preceding the applicable Interest Date (each, an &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Interest
        Measuring Period</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;).
        All
        such determinations to be appropriately adjusted for any share split, share
        dividend, share combination or other similar transaction during such
        period.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(x)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Interest
        Rate</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        eight percent (8.0%) per annum.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(y)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Market
        Capitalization</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        of the
        Company means the amount determined by multiplying the total number of Ordinary
        Shares issued and outstanding (as reflected in the Company&#8217;s latest Form 20-F or
        other publicly filed report) times the arithmetic average of the Weighted
        Average Price of the Ordinary Shares for the ten (10) consecutive Trading
        Days
        preceding the date of measurement.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(z)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Maximum
        Interest Share Amount</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        the Holder Pro Rata Amount of the quotient determined by dividing (A)&#160;the
        product of (x)&#160;15% and (y)&#160;the sum of the Trading Dollar Volume
        of the
        ADRs for the twenty (20) Trading Days ending on the Trading Day immediately
        preceding the applicable Interest Date by (B)&#160;the applicable Interest
        Conversion Price.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(aa)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Net
        Cash Balance</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means,
        at any date, the difference between (i)&#160;aggregate amount of all cash
        and
        Cash Equivalents and Short and Long Term Investments reflected on the Company&#8217;s
        balance sheet as at such date, </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em><u>minus</u></em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        (ii)&#160;the unpaid principal balance of the Permitted Indebtedness (not
        including amounts owed under the Notes and any accounts payable) on such
        date.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(bb)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Options</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        any rights, warrants or options to subscribe for or purchase Ordinary Shares
        or
        Convertible Securities.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
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        means,
        at any given time, the number of shares of Ordinary Shares actually outstanding
        at such time (directly or indirectly through ADRs or otherwise), plus the
        number
        of Ordinary Shares deemed to be outstanding pursuant to Sections 7(a)(i)
        and
        7(a)(ii) hereof regardless of whether the Options or Convertible Securities
        are
        actually exercisable at such time, but excluding any Ordinary Shares owned
        or
        held by or for the account of the Company or issuable upon conversion and
        exercise, as applicable, of the SPA Securities and the Warrants.</font></div>
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        Shares</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        (i)&#160;the Company&#8217;s ordinary shares, no par value per share, and
        (ii)&#160;any share capital into which such Ordinary Shares shall have
        been
        changed or any share capital resulting from a reclassification of such Ordinary
        Shares.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ee)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Parent
        Entity</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        of a
        Person means an entity that, directly or indirectly, controls the applicable
        Person and whose common shares or equivalent equity security is quoted or
        listed
        on an Eligible Market, or, if there is more than one such Person or Parent
        Entity, the Person or Parent Entity with the largest public market
        capitalization as of the date of consummation of the Fundamental
        Transaction.</font></div>
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        Indebtedness</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        (A)&#160;Permitted Senior Indebtedness, (B)&#160;Indebtedness incurred
        by the
        Company that is made expressly subordinate in right of payment to the
        Indebtedness evidenced by this Note, as reflected in a written agreement
        acceptable to the Holder and approved by the Holder in writing, and which
        Indebtedness does not provide at any time for (1)&#160;the payment, prepayment,
        repayment, repurchase or defeasance, directly or indirectly, of any principal
        or
        premium, if any, thereon until ninety-one (91) days after the Maturity Date
        or
        later and (2)&#160;total interest and fees at a rate in excess of eight
        percent
        (8%) per annum, (C)&#160;Indebtedness secured by Permitted Liens,
        (D)&#160;Indebtedness to trade creditors incurred in the ordinary course
        of
        business, and (E)&#160;Indebtedness of any entity acquired by or merged
        with the
        Company not for capital raising purposes and existing at the date of such
        acquisition or merger, (F)&#160;Indebtedness not covered by (A) through
        (E)
        above which is incurred by the Company in an amount not to exceed an aggregate
        of $10 million dollars, provided that such Indebtedness is not in any way
        convertible into, exchangeable for or in any way payable in equity securities
        of
        the Company and, provided further that such Indebtedness shall only be incurred
        to the extent that the Consolidated Total Indebtedness to Market Capitalization
        Ratio does not exceed .15 at the time of incurrence of such Indebtedness
        and
        (G)&#160;extensions, refinancings and renewals of any items of Permitted
        Indebtedness, provided that the principal amount is not increased or the
        terms
        modified to impose more burdensome terms upon the Company or its Subsidiary,
        as
        the case may be.</font></div>
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        means
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        in good
        faith by appropriate proceedings for which adequate reserves have been
        established in accordance with GAAP, (ii)&#160;any statutory Lien arising
        in the
        ordinary course of business by operation of law with respect to a liability
        that
        is not yet due or delinquent, (iii)&#160;any Lien created by operation
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        such as materialmen&#8217;s liens, mechanics&#8217; liens and other similar liens, arising
        in the ordinary course of business with respect to a liability that is not
        yet
        due or delinquent or that are being contested in good faith by appropriate
        proceedings, (iv)&#160;Liens (A)&#160;upon or in any equipment acquired
        or held
        by the Company or any of its Subsidiaries to secure the purchase price of
        such
        equipment or indebtedness incurred solely for the purpose of financing the
        acquisition or lease of such equipment, or (B)&#160;existing on such equipment
        at the time of its acquisition, provided that the Lien is confined solely
        to the
        property so acquired and improvements thereon, and the proceeds of such
        equipment, (v)&#160;Liens incurred in connection with the extension, renewal
        or
        refinancing of the indebtedness secured by Liens of the type described in
        clauses (i) and (iv) above, provided that any extension, renewal or replacement
        Lien shall be limited to the property encumbered by the existing Lien and
        the
        principal amount of the Indebtedness being extended, renewed or refinanced
        does
        not increase, (vi)&#160;leases or subleases and licenses and sublicenses
        granted
        to others in the ordinary course of the Company&#8217;s business, not interfering in
        any material respect with the business of the Company and its Subsidiaries
        taken
        as a whole, (vii)&#160;Liens in favor of customs and revenue authorities
        arising
        as a matter of law to secure payments of custom duties in connection with
        the
        importation of goods, (viii)&#160;Liens on any assets of any entity acquired
        by
        or merged with the Company not for capital raising purposes and existing
        at the
        date of such acquisition or merger, and (ix)&#160;Liens arising from judgments,
        decrees or attachments in circumstances not constituting an Event of Default
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(hh)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Permitted
        Senior Indebtedness</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        the principal of (and premium, if any), interest on, and all fees and other
        amounts (including, without limitation, any reasonable out-of-pocket costs,
        enforcement expenses (including reasonable out-of-pocket legal fees and
        disbursements), collateral protection expenses and other reimbursement or
        indemnity obligations relating thereto) payable by Company and/or its
        Subsidiaries under or in connection with any credit facility to be entered
        into
        by the Company and/or its Subsidiaries with one or more financial institutions
        together with any amendments, restatements, renewals, refundings, refinancings
        or other extensions thereof); </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>provided</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>however</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        that
        the aggregate outstanding amount of such Permitted Senior Indebtedness (taking
        into account the maximum amounts which may be advanced under the loan documents
        evidencing such Permitted Senior Indebtedness) does not as of the date on
        which
        any such Permitted Senior Indebtedness is incurred exceed $10,000,000, with
        respect to the unpaid principal balance of loans thereunder and, provided
        further that such Permitted Senior Indebtedness shall only be incurred to
        the
        extent that the Consolidated Total Indebtedness to Market Capitalization
        Ratio
        does not exceed .15 at the time of incurrence of such Permitted Senior
        Indebtedness.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Person</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        an individual, a limited liability company, a partnership, a joint venture,
        a
        corporation, a trust, an unincorporated organization, any other entity and
        a
        government or any department or agency thereof.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(jj)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Principal
        Market</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        the Nasdaq National Market.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(kk)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Redemption
        Premium</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        (i)&#160;in the case of the Events of Default described in Section 4(a)(i)
        - (v)
        and (viii) - (xi), 110% or (ii) in the case of the Events of Default described
        in Section 4(a)(vi) - (vii), 100%.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ll)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Required
        Holders</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        the holders of Notes representing at least a majority of the aggregate principal
        amount of the Notes then outstanding.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(mm)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SEC</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        the United States Securities and Exchange Commission.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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          </div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(nn)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Securities
        Purchase Agreement</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        that certain securities purchase agreement dated as of the Subscription Date
        by
        and among the Company and the initial holders of the Notes pursuant to which
        the
        Company issued the Notes.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(oo)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Strategic
        Financing</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        the issuance, directly or indirectly, of Ordinary Shares or warrants to purchase
        Ordinary Shares at a purchase price or an exercise price, as the case may
        be,
        that is not less than the market price of the Ordinary Shares on the date
        of
        issuance of such Ordinary Shares or warrant, in connection with any strategic
        investor, vendor, lease or similar arrangement (the primary purpose of which
        is
        not to raise equity capital), provided that the aggregate number of shares
        of
        Ordinary Shares which the Company may issue pursuant to this definition shall
        not exceed ten percent (10%) of the outstanding Ordinary Shares at the time
        of
        issuance (subject to adjustment for stock splits, stock dividends, stock
        combination and similar transactions)</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(pp)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Subscription
        Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        October 5, 2005.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
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        Conversion Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        108% of the arithmetic average of the Weighted Average Price of the ADRs
        for the
        ten (10) consecutive Trading Days ending on the Trading Day immediately
        preceding the seven month anniversary of the Subscription Date. All such
        determinations to be appropriately adjusted for any share split, share dividend,
        share combination or other similar transaction during such period.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(rr)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Successor
        Entity</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        the Person, which may be the Company, formed by, resulting from or surviving
        any
        Fundamental Transaction or the Person with which such Fundamental Transaction
        shall have been made, provided that if such Person is not a publicly traded
        entity whose common shares or equivalent equity security is quoted or listed
        for
        trading on an Eligible Market, Successor Entity shall mean such Person&#8217;s Parent
        Entity.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ss)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Trading
        Day</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        any day on which the ADRs are traded on the Principal Market, or, if the
        Principal Market is not the principal trading market for the ADRs, then on
        the
        principal securities exchange or securities market on which the ADRs are
        then
        traded; provided that &#8220;Trading Day&#8221; shall not include any day on which the ADRs
        are scheduled to trade on such exchange or market for less than 4.5 hours
        or any
        day that the ADRs are suspended from trading during the final hour of trading
        on
        such exchange or market (or if such exchange or market does not designate
        in
        advance the closing time of trading on such exchange or market, then during
        the
        hour ending at 4:00:00 p.m., New York Time).</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(tt)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Trading
        Dollar Volume</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means,
        for any day on which the ADRs are traded on the Principal Market, the product
        of
        (i)&#160;the daily average trading volume of the ADRs on such day multiplied
        by
        (ii)&#160;the Weighted Average Price for the ADRs on such day.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(uu)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Warrants</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        has the
        meaning ascribed to such term in the Securities Purchase Agreement, and shall
        include all warrants issued in exchange therefor or replacement
        thereof.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(vv)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Weighted
        Average Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means,
        for any security as of any date, the dollar volume-weighted average price
        for
        such security on the Principal Market during the period beginning at 9:30:01
        a.m., New York Time (or such other time as the Principal Market publicly
        announces is the official open of trading), and ending at 4:00:00 p.m., New
        York
        Time (or such other time as the Principal Market publicly announces is the
        official close of trading) as reported by Bloomberg through its &#8220;Volume at
        Price&#8221; functions, or, if the foregoing does not apply, the dollar
        volume-weighted average price of such security in the over-the-counter market
        on
        the electronic bulletin board for such security during the period beginning
        at
        9:30:01 a.m., New York Time (or such other time as such market publicly
        announces is the official open of trading), and ending at 4:00:00 p.m., New
        York
        Time (or such other time as such market publicly announces is the official
        close
        of trading) as reported by Bloomberg, or, if no dollar volume-weighted average
        price is reported for such security by Bloomberg for such hours, the average
        of
        the highest closing bid price and the lowest closing ask price of any of
        the
        market makers for such security as reported in the &#8220;pink sheets&#8221; by Pink Sheets
        LLC (formerly the National Quotation Bureau, Inc.). If the Weighted Average
        Price cannot be calculated for a security on a particular date on any of
        the
        foregoing bases, the Weighted Average Price of such security on such date
        shall
        be the fair market value as mutually determined by the Company and the Holder.
        If the Company and the Holder are unable to agree upon the fair market value
        of
        such security, then such dispute shall be resolved pursuant to Section 24.
        All
        such determinations to be appropriately adjusted for any share dividend,
        share
        split, share combination or other similar transaction during the applicable
        calculation period.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
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        <div>&#160;</div>
        <div>&#160;</div>
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        WITNESS WHEREOF, the Company has caused this Note to be duly executed as
        of the
        Issuance Date set out above.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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              <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>pSIVIDA
                LIMITED</strong></font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
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            <tr valign="top" bgcolor="#ffffff">
              <td>&#160;</td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
              <td>&#160;</td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td colspan="2"><font style="FONT-FAMILY: Times New Roman" size="1">&#160;</font></td>
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              <td>
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Name:
                  Gavin Rezos</font></div>
                <div><font size="2">Title:&#160;&#160; Managing
                  Director</font></div>
              </td>
            </tr>

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<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>v029459_ex99-3.htm
<TEXT>
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    <div>&#160;</div>
    <div>&#160;</div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EXHIBIT
        99.3</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Form
        of Warrant to Purchase ADRs for the purchase of up to 633,803
        ADRs</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
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    <div>&#160;</div>
    <div>&#160;</div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>[FORM
        OF WARRANT]</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>NEITHER
        THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR
        THE
        SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISEABLE HAVE BEEN REGISTERED
        UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES
        LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED
        (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
        UNDER THE SECURITIES ACT OF 1933, AS AMENDED OR (B) AN OPINION OF COUNSEL,
        IN A
        FORM REASONABLY ACCEPTABLE TO THE COMPANY, THAT REGISTRATION IS NOT REQUIRED
        UNDER SAID ACT OR (II) IF SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID
        ACT,
        SUCH DOCUMENTS, OPINIONS AND CERTIFICATES AS THE COMPANY MAY REASONABLY REQUIRE.
        NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION
        WITH
        A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED
        BY THE
        SECURITIES.</strong></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>pSIVIDA
        LIMITED</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>WARRANT
        TO PURCHASE ADRS</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Warrant
        No.: S-1</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Number
        of
        ADRs: 633,803</font></div>
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        of
        Issuance: November 15, 2005 (&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Issuance
        Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PSIVIDA
        LIMITED, an Australian corporation (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Company</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        hereby certifies that, for good and valuable consideration, the receipt and
        sufficiency of which are hereby acknowledged,_________________</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        the
        registered holder hereof or its permitted assigns (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Holder</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        is
        entitled, subject to the terms set forth below, to purchase from the Company,
        at
        the Exercise Price (as defined below) then in effect, upon surrender of this
        Warrant to Purchase ADRs (as defined below) (including any Warrants to Purchase
        ADRs issued in exchange, transfer or replacement hereof, the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Warrant</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        at
        any time or times on or after the date hereof, but not after 11:59 p.m.,
        New
        York Time, on the Expiration Date (as defined below), up to six hundred
        thirty-three thousand eight hundred three fully paid nonassessable ADRs (as
        defined below) (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Warrant
        Shares</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;).
        Except as otherwise defined herein, capitalized terms in this Warrant shall
        have
        the meanings set forth in Section 15. This Warrant is one of the Warrants
        to
        purchase Warrant Shares (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SPA
        Warrants</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        issued
        pursuant to Section 1 of that certain Securities Purchase Agreement, dated
        as of
        October 5, 2005 (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Subscription
        Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        by
        and among the Company and the investors (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Buyers</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        referred to therein (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Securities
        Purchase Agreement</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;).</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>EXERCISE
        OF WARRANT</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Mechanics
        of Exercise</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Subject
        to the terms and conditions hereof (including, without limitation, the
        limitations set forth in Section 1(f)), this Warrant may be exercised by
        the
        Holder on any day on or after the date hereof, in whole or in part, by
        (i)&#160;delivery of a written notice, in the form attached hereto as
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Exhibit
        A</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        (the
&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exercise
        Notice</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        of
        the Holder&#8217;s election to exercise this Warrant and (ii)&#160;payment to the
        Company of an amount equal to the applicable Exercise Price multiplied by
        the
        number of Warrant Shares as to which this Warrant is being exercised (the
        &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Aggregate
        Exercise Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        in
        cash or wire transfer of immediately available funds. The Holder shall not
        be
        required to deliver the original Warrant in order to effect an exercise
        hereunder. Execution and delivery of the Exercise Notice with respect to
        less
        than all of the Warrant Shares shall have the same effect as cancellation
        of the
        original Warrant and issuance of a new Warrant evidencing the right to purchase
        the remaining number of Warrant Shares. On or before the second (2nd) Business
        Day following the date on which the Company has received each of the Exercise
        Notice and the Aggregate Exercise Price the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exercise
        Delivery Documents</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        the
        Company shall transmit by facsimile an acknowledgment of confirmation of
        receipt
        of the Exercise Delivery Documents to the Holder and the Company&#8217;s transfer
        agent (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Transfer
        Agent</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;).
        On or
        before the fifth (5th) Business Day following the date on which the Company
        has
        received all of the Exercise Delivery Documents (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Share
        Delivery Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        the
        Company shall (X)&#160;provided that the Transfer Agent is participating
        in The
        Depository Trust Company (&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>DTC</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        Fast
        Automated Securities Transfer Program, upon the request of the Holder, credit
        such aggregate number of Warrant Shares to which the Holder is entitled pursuant
        to such exercise to the Holder&#8217;s or its designee&#8217;s balance account with DTC
        through its Deposit Withdrawal Agent Commission system, or (Y)&#160;if
        the
        Transfer Agent is not participating in the DTC Fast Automated Securities
        Transfer Program, issue and dispatch by overnight courier to the address
        as
        specified in the Exercise Notice, a certificate, registered in the Company&#8217;s
        share register in the name of the Holder or its designee, for the number
        of
        Warrant Shares to which the Holder is entitled pursuant to such exercise.
        Upon
        delivery of the Exercise Delivery Documents, the Holder shall be deemed for
        all
        corporate purposes to have become the holder of record of the Ordinary Shares
        represented by the ADRs with respect to which this Warrant has been exercised,
        irrespective of the date of delivery of the certificates evidencing the ADRs.
        If
        this Warrant is submitted in connection with any exercise pursuant to this
        Section 1(a) and the number of Warrant Shares represented by this Warrant
        submitted for exercise is greater than the number of Warrant Shares being
        acquired upon an exercise, then the Company shall as soon as practicable
        and in
        no event later than three Business Days after any exercise and at its own
        expense, issue a new Warrant (in accordance with Section 7(d)) representing
        the
        right to purchase the number of Warrant Shares purchasable immediately prior
        to
        such exercise under this Warrant, less the number of Warrant Shares with
        respect
        to which this Warrant is exercised. No fractional Warrant Shares are to be
        issued upon the exercise of this Warrant, but, at the option of the Company,
        (i)&#160;the number of Warrant Shares to be issued shall be rounded up
        to the
        nearest whole number or (ii)&#160;in lieu of any fractional Warrant Shares
        to
        which the Holder would otherwise be entitled, the Company shall make a cash
        payment to the Holder equal to the Closing Sale Price on the date of exercise
        multiplied by such fraction. Upon exercise of this Warrant, the Company shall
        deposit the corresponding number of Ordinary Shares representing the American
        Depositary Shares (&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ADSs</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        underlying the ADRs and pay by wire transfer to the Depositary&#8217;s account the ADS
        issuance fee of $0.04 per ADS to be issued, together with all applicable
        taxes
        and expenses otherwise payable under the terms of the Deposit Agreement for
        the
        deposit of Ordinary Shares and issuance of ADSs (including, without limitation,
        confirmation that any Australian stock transfer taxes in respect of such
        deposit
        (if any) have been paid by the Company), and the Company shall otherwise
        comply
        with and cause any other necessary party to comply with all the terms of
        the
        Deposit Agreement. The Company shall pay any and all taxes (excluding any
        taxes
        on the income of the Holder) which may be payable with respect to the issuance
        and delivery of Warrant Shares upon exercise of this Warrant. Appropriate
        and
        equitable adjustment to the terms and provisions of this Warrant shall be
        made
        in the event of any change to the ratio of Warrant Shares to Ordinary Shares
        represented thereby.</font></div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-2-</font></div>
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            <hr style="COLOR: black" noshade size="2">
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
        the
        event that the Company&#8217;s Board of Directors should determine that the Company
        shall transform itself (whether by re-incorporation in the United States
        or
        otherwise) from a foreign private issuer (as defined under the Securities
        Act of
        1933, as amended) all references to ADRs or ADSs shall be deemed references
        to
        whatever shares are then issued by the re-domiciled Company and all other
        provisions of this Agreement shall be equitably adjusted by the parties hereto
        to the extent necessary or appropriate to reflect such new country of
        incorporation.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Exercise
        Price</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        For
        purposes of this Warrant, &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exercise
        Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        $7.20 per ADR (which is equivalent to $0.72 per Ordinary Share), subject
        to
        adjustment as provided herein.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Company&#8217;s
        Failure to Timely Deliver Securities</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If the
        Company shall fail to issue to the Holder, the number of Warrant Shares to
        which
        the Holder is entitled upon the Holder&#8217;s exercise of this Warrant and register
        such Warrant Shares on the Company&#8217;s share register or to credit the Holder&#8217;s
        balance account with DTC for such number of Warrant Shares to which the Holder
        is entitled upon the Holder&#8217;s exercise of this Warrant on or prior to the date
        which is three (3) Business Days after receipt of the Exercise Delivery
        Documents (an &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exercise
        Failure</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        then
        the Company shall pay damages in cash to the Holder for each date of such
        Exercise Failure in an amount equal to an interest rate equal to 10% per
        annum
        applied to the product of (X)&#160;the sum of the number of Warrant Shares
        not
        issued to the Holder on or prior to the Share Delivery Date and to which
        the
        Holder is entitled and (Y)&#160;the Closing Sale Price of the Warrant Shares
        on
        the Share Delivery Date. In addition to the foregoing, if within three (3)
        Trading Days after the Company&#8217;s receipt of the facsimile copy of a Exercise
        Notice the Company shall fail to issue and deliver to the Holder and register
        such Warrant Shares on the Company&#8217;s share register or credit the Holder&#8217;s
        balance account with DTC for the number of Warrant Shares to which the Holder
        is
        entitled upon such holder&#8217;s exercise hereunder, and if on or after such Trading
        Day the Holder purchases (in an open market transaction or otherwise) ADRs
        to
        deliver in satisfaction of a sale by the Holder of ADRs issuable upon such
        exercise that the Holder anticipated receiving from the Company (a &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Buy-In</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        then
        the Company shall, within three (3) Business Days after the Holder&#8217;s request and
        in the Holder&#8217;s discretion, either (i)&#160;pay cash to the Holder in an amount
        equal to the Holder&#8217;s total purchase price (including brokerage commissions, if
        any) for the ADRs so purchased (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Buy-In
        Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        at
        which point the Company&#8217;s obligation to deliver and issue such ADRs shall be
        deemed to have been satisfied and shall terminate, or (ii)&#160;promptly
        honor
        its obligation to deliver to the Holder a certificate or certificates
        representing such ADRs and pay cash to the Holder in an amount equal to the
        excess (if any) of the Buy-In Price over the product of (A)&#160;such number
        of
        ADRs, times (B)&#160;the Closing Bid Price on the date of exercise.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-3-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Registration
        Rights</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Notwithstanding anything contained herein to the contrary, if a Registration
        Statement (as defined in the Registration Rights Agreement) covering the
        Warrant
        Shares that are the subject of the Exercise Notice (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Unavailable
        Warrant Shares</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        is not
        available for resale of such Unavailable Warrant Shares then the Holder may
        elect to exercise this Warrant for Warrant Shares in the form of ADRs or
        in the
        form of the Ordinary Shares underlying the ADRs and in either case the Company
        must, contemporaneous with the issue of the Warrant Shares that are the subject
        of the Exercise Notice, lodge with the ASX Limited a notice complying with
        section 708A(5)(E) of the Corporations Act 2001 and the ASX Listing Rules
        (&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Cleansing
        Notice</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        and
        notify the Holder that it has so lodged a Cleansing Notice, and upon the
        lodgement by the Company of the Cleansing Notice, the Holder is free to dispose
        of any Ordinary Shares or any interest in Ordinary Shares it holds on the
        Australian Stock Exchange Limited in the ordinary course of trading or otherwise
        in Australia to any person and the restrictions on sale in the Securities
        Purchase Agreement, including without limitation in section 2(j)(C) of the
        Securities Purchase Agreement, does not apply to any such disposal.
        Notwithstanding the foregoing, from after the second anniversary of the Issuance
        Date, in the event that the aggregate number of Ordinary Shares that trades
        on
        the ASX is less than either (i)&#160;an average of 50,000 Common Shares
        on each
        Trading Day during any two month period or (ii)&#160;a weighted average
        trading
        price of at least US$50,000 on average during each Trading Day during any
        two
        month period, then at the request of the Holder the Company as of the date
        of
        such request once again (each of (i) and (ii), a &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Registration
        Event</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        shall
        be subject to the terms of the Registration Rights Agreement as to the Warrant
        Shares; provided, that the Holder makes such request within thirty (30) days
        of
        a Registration Event.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Disputes</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        In the
        case of a dispute as to the determination of the Exercise Price or the
        arithmetic calculation of the Warrant Shares, the Company shall issue to
        the
        Holder the number of Warrant Shares that are not disputed and resolve such
        dispute in accordance with Section 12.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(f)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Limitations
        on Exercises</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Beneficial
        Ownership</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company shall not effect the exercise of this Warrant, and the Holder shall
        not
        have the right to exercise this Warrant, to the extent that after giving
        effect
        to such exercise, the Holder (together with affiliates) would beneficially
        own
        (directly or indirectly th</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">rough
        Warrant Shares or otherwise) in excess of 4.99% (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Maximum
        Percentage</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        of the
        Ordinary Shares outstanding immediately after giving effect to such exercise.
        For purposes of the foregoing sentence, the number of Ordinary Shares
        beneficially owned (directly or indirectly through Warrant Shares or otherwise)
        by the Holder and its affiliates shall include the number of Ordinary Shares
        underlying the Warrant Shares issuable upon exercise of this Warrant with
        respect to which the determination of such sentence is being made, but shall
        exclude the number of Ordinary Shares underlying Warrant Shares which would
        be
        issuable upon (i)&#160;exercise of the remaining, unexercised portion of
        this
        Warrant beneficially owned by the Holder and its affiliates and
        (ii)&#160;exercise or conversion of the unexercised or unconverted portion
        of
        any other securities of the Company beneficially owned by such Person and
        its
        affiliates (including, without limitation, any convertible notes or convertible
        preferred stock or warrants) subject to a limitation on conversion or exercise
        analogous to the limitation contained herein. Except as set forth in the
        preceding sentence, for purposes of this section, beneficial ownership shall
        be
        calculated in accordance with Section 13(d) of the Securities Exchange Act
        of
        1934, as amended. For purposes of this Warrant, in determining the number
        of
        outstanding Ordinary Shares, the Holder may rely on the number of outstanding
        Ordinary Shares as reflected in (1)&#160;the Company&#8217;s most recent Form 20-F,
        Form 6-K or other public filing with the Securities and Exchange Commission,
        as
        the case may be, (2)&#160;a more recent public announcement by the Company
        or
        (3)&#160;any other notice by the Company or the Transfer Agent setting
        forth the
        number of Ordinary Shares outstanding. For any reason at any time, upon the
        written or oral request of the Holder, the Company shall within two (2) Business
        Days confirm orally and in writing to the Holder the number of Ordinary Shares
        then outstanding. In any case, the number of outstanding Ordinary Shares
        shall
        be determined after giving effect to the conversion or exercise of securities
        of
        the Company, including the SPA Securities and the SPA Warrants, by the Holder
        and its affiliates since the date as of which such number of outstanding
        Ordinary Shares was reported. By written notice to the Company, the Holder
        may
        increase or decrease the Maximum Percentage to any other percentage not in
        excess of 9.99% specified in such notice; provided that (i)&#160;any such
        increase will not be effective until the sixty-first (61st) day after such
        notice is delivered to the Company, and (ii)&#160;any such increase or
        decrease
        will apply only to the Holder and not to any other holder of SPA
        Warrants.</font></div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
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          </div>
        </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Principal
        Market Regulation</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company shall not be obligated to issue any ADRs upon exercise of this Warrant,
        and the Holder of this Warrant shall not have the right to receive upon
        conversion of this Warrant, any ADRs, if the issuance of such ADRs would
        exceed
        that number of ADRs which the Company may issue upon exercise of this Warrant
        (including, as applicable, any ADRs issued upon conversion of the SPA
        Securities) without breaching the Company&#8217;s obligations under the rules or
        regulations of the Principal Market (or such other Eligible Market on which
        the
        ADRs or Ordinary Shares are listed) or the ASX (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exchange
        Cap</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        except that such limitation shall not apply in the event that the Company
        obtains the approval of its stockholders as required by the applicable rules
        of
        the Principal Market and the ASX listing rules for issuances of ADRs in excess
        of such amount. Until such approval is obtained, no Buyer shall be issued,
        in
        the aggregate, upon exercise or conversion, as applicable, of any SPA Warrants
        or SPA Securities, any ADRs in an amount greater than the product of the
        Exchange Cap multiplied by a fraction, the numerator of which is the total
        number of ADRs underlying the SPA Warrants issued to such Buyer pursuant
        to the
        Securities Purchase Agreement on the Subscription Date and the denominator
        of
        which is the aggregate number of ADRs underlying all the Warrants issued
        to the
        Buyers pursuant to the Securities Purchase Agreement on the Subscription
        Date
        (with respect to each Buyer, the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exchange
        Cap Allocation</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;).
        In
        the event that any Buyer shall sell or otherwise transfer any of such Buyer&#8217;s
        SPA Warrants, the transferee shall be allocated a pro rata portion of such
        Buyer&#8217;s Exchange Cap Allocation, and the restrictions of the prior sentence
        shall apply to such transferee with respect to the portion of the Exchange
        Cap
        Allocation allocated to such transferee. In the event that any holder of
        SPA
        Warrants shall exercise all of such holder&#8217;s SPA Warrants into a number of ADRs
        which, in the aggregate, is less than such holder&#8217;s Exchange Cap Allocation,
        then the difference between such holder&#8217;s Exchange Cap Allocation and the number
        of ADRs actually issued to such holder shall be allocated to the respective
        Exchange Cap Allocations of the remaining holders of SPA Warrants on a pro
        rata
        basis in proportion to the ADRs underlying the SPA Warrants then held by
        each
        such holder.</font></div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
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          </div>
        </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-5-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>ADJUSTMENT
        OF EXERCISE PRICE</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
        the
        Company issues or gives the holders of Ordinary Shares in the Company the
        right,
        pro rata with existing holdings of Ordinary Shares, to subscribe for additional
        securities (&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Pro
        Rata Issue</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        the
        Exercise Price in respect of one underlying Ordinary Share shall be reduced
        in
        accordance with the following formula:</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">O'
        = O -
        E[P-(S+D)]/[N+1]</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Where:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div align="left">
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td width="4%">&#160;</td>
              <td align="left" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">O'</font></div>
              </td>
              <td valign="top" width="5%"><font size="2">=</font>&#160;</td>
              <td align="left" valign="top" width="86%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
                  new Exercise Price in respect of an underlying Ordinary
                  Share.</font></div>
              </td>
            </tr>
            <tr>
              <td width="4%">&#160;</td>
              <td align="left" valign="top" width="5%">&#160;</td>
              <td valign="top" width="5%">&#160;</td>
              <td align="left" valign="top" width="86%">&#160;</td>
            </tr>
            <tr>
              <td width="4%">&#160;</td>
              <td align="left" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">O</font></div>
              </td>
              <td valign="top" width="5%"><font size="2">=</font></td>
              <td align="left" valign="top" width="86%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
                  original Exercise Price in respect of an underlying Ordinary
                  Share.</font></div>
              </td>
            </tr>
            <tr>
              <td width="4%">&#160;</td>
              <td align="left" valign="top" width="5%">&#160;</td>
              <td valign="top" width="5%">&#160;</td>
              <td align="left" valign="top" width="86%">&#160;</td>
            </tr>
            <tr>
              <td width="4%">&#160;</td>
              <td align="left" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">E</font></div>
              </td>
              <td valign="top" width="5%"><font size="2">=</font>&#160;</td>
              <td align="left" valign="top" width="86%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
                  number of underlying Ordinary Shares to be issued on exercise of
                  each
                  Warrant.</font></div>
              </td>
            </tr>
            <tr>
              <td width="4%">&#160;</td>
              <td align="left" valign="top" width="5%">&#160;</td>
              <td valign="top" width="5%">&#160;</td>
              <td align="left" valign="top" width="86%">&#160;</td>
            </tr>
            <tr>
              <td width="4%">&#160;</td>
              <td align="left" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">P&#160;</font></div>
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              <td align="left" valign="top" width="86%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
                  average market price per Ordinary Share (weighted by reference
                  to volume)
                  of the Ordinary Shares during the 5 trading days ending before
                  the ex
                  rights date or ex entitlements date.</font></div>
              </td>
            </tr>
            <tr>
              <td width="4%">&#160;</td>
              <td align="left" valign="top" width="5%">&#160;</td>
              <td valign="top" width="5%">&#160;</td>
              <td align="left" valign="top" width="86%">&#160;</td>
            </tr>
            <tr>
              <td width="4%">&#160;</td>
              <td align="left" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">S</font></div>
              </td>
              <td valign="top" width="5%"><font size="2">=</font>&#160;</td>
              <td align="left" valign="top" width="86%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
                  subscription price for an Ordinary Share under the Pro Rata
                  Issue.</font></div>
              </td>
            </tr>
            <tr>
              <td width="4%">&#160;</td>
              <td align="left" valign="top" width="5%">&#160;</td>
              <td valign="top" width="5%">&#160;</td>
              <td align="left" valign="top" width="86%">&#160;</td>
            </tr>
            <tr>
              <td width="4%">&#160;</td>
              <td align="left" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">D</font></div>
              </td>
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              <td align="left" valign="top" width="86%">
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                  dividend due but not paid on the existing Ordinary Shares (excluding
                  those
                  to be issued under the Pro Rata Issue).</font></div>
              </td>
            </tr>
            <tr>
              <td width="4%">&#160;</td>
              <td align="left" valign="top" width="5%">&#160;</td>
              <td valign="top" width="5%">&#160;</td>
              <td align="left" valign="top" width="86%">&#160;</td>
            </tr>
            <tr>
              <td width="4%">&#160;</td>
              <td align="left" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">N</font></div>
              </td>
              <td valign="top" width="5%"><font size="2">=</font>&#160;</td>
              <td align="left" valign="top" width="86%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
                  number of Ordinary Shares which must be held to receive one new
                  Share in
                  the Pro Rata Issue.</font></div>
              </td>
            </tr>

        </table>
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      <div align="left">&#160;</div>
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        upon pro rata bonus issue of Ordinary Shares</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If the
        Company makes a pro rata bonus issue of Ordinary Shares to its shareholders
        prior to the Warrant being exercised, and the Warrant is not exercised prior
        to
        the record date for the issue, the Warrant will, when exercised, entitle
        the
        Holder to the number of Warrant Shares that would ordinarily be received
        under
        Section 1, plus the number of bonus Ordinary Shares which would have been
        issued
        to the Holder if the Warrant had been exercised prior to the record
        date.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Adjustment
        upon Subdivision or Combination of Ordinary Shares</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If the
        Company at any time on or after the Subscription Date subdivides (by any
        stock
        split, stock dividend, recapitalization or otherwise) one or more classes
        of its
        outstanding ADRs (or Ordinary Shares underlying such ADRs) into a greater
        number
        of ADRs (or Ordinary Shares), the Exercise Price in effect immediately prior
        to
        such subdivision will be proportionately reduced and the number of Warrant
        Shares (or Ordinary Shares underlying such Warrant Shares) will be
        proportionately increased. If the Company at any time on or after the
        Subscription Date combines (by combination, reverse stock split or otherwise)
        one or more classes of its outstanding ADRs (or Ordinary Shares underlying
        such
        ADRs) into a smaller number of ADRs (or Ordinary Shares underlying such ADRs),
        the Exercise Price in effect immediately prior to such combination will be
        proportionately increased and the number of Warrant Shares (or Ordinary Shares
        underlying such Warrant Shares) will be proportionately decreased. Any
        adjustment under this Section 2(c) shall be subject to (and will be
        correspondingly reorganized in a manner which is permissible under, or necessary
        to comply with) the ASX Listing Rules or the rules of any Recognized Exchange
        in
        force at the relevant time and shall become effective at the close of business
        on the date the subdivision or combination becomes effective.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-6-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Other
        Events</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If any
        event occurs of the type contemplated by the provisions of this Section 2
        but
        not expressly provided for by such provisions (including, without limitation,
        the granting of stock appreciation rights, phantom stock rights or other
        rights
        with equity features), then the Company&#8217;s Board of Directors will make an
        appropriate adjustment in the Exercise Price and the number of Warrant Shares
        so
        as to protect the rights of the Holder; provided that such adjustment is
        made in
        accordance with the ASX Listing Rules. No such adjustment pursuant to this
        Section 2(d) will increase the Exercise Price or decrease the number of Warrant
        Shares as otherwise determined pursuant to this Section 2, unless in accordance
        with any ASX Listing Rule.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Other
        Capital Reorganizations</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Notwithstanding any other provision contained in this Warrant, the rights
        of a
        warrant holder will be changed to the extent necessary to comply with the
        listing rules applying to a reorganization of capital at the time of
        reorganization. Subject to the above, if there is a reorganization of the
        capital of the Company, the number of Warrant Shares applicable to the Warrant
        and/or Exercise Price of the Warrant will be reorganized as follows: (i)&#160;if
        the Company returns capital on its Ordinary Shares, the number of Warrant
        Shares
        applicable to the Warrant will remain the same, and the Exercise Price of
        each
        Warrant will be reduced by the same amount as the amount returned in relation
        to
        each Ordinary Share; (ii)&#160;if the Company returns capital on its Ordinary
        Shares by a cancellation of capital that is lost or not represented by available
        assets, the number of Warrant Shares applicable to the Warrant and the Exercise
        Price is unaltered; (iii)&#160;if the Company reduces its issued Ordinary
        Shares
        on a pro rata basis, the number of Warrant Shares applicable to the Warrant
        will
        be reduced in the same ratio as the Ordinary Shares and the Exercise Price
        will
        be amended in inverse proportion to that ratio; and (iv)&#160;if the Company
        reorganizes its issued Ordinary Shares in any way not otherwise contemplated
        by
        the preceding paragraphs, the number of Warrant Shares applicable to the
        Warrant
        or the Exercise Price or both will be reorganized so that the Warrant Holder
        will not receive a benefit that holders of Ordinary Shares do not receive.
        The
        Company shall give notice to Warrant Holders of any adjustments to the number
        of
        Warrant Shares applicable to the Warrant or the number of Ordinary Shares
        which
        are to be issued on exercise of a Warrant or to the Exercise Price. Before
        a
        Warrant is exercised, all adjustment calculations are to be carried out
        including all fractions (in relation to each of the number of Warrant Shares
        applicable to the Warrant, the number of Ordinary Shares and the Exercise
        Price), but on exercise the number of Warrant Shares or Ordinary Shares issued
        is rounded down to the next lower whole number and the Exercise Price rounded
        up
        to the next higher cent.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-7-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>FUNDAMENTAL
        TRANSACTIONS</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company shall not enter into or be party to a Fundamental Transaction unless,
        and shall use its best endeavors to procure that, (i)&#160;the Successor
        Entity
        (if other than the Company) assumes in writing all of the obligations of
        the
        Company under this Warrant and the other Transaction Documents in accordance
        with the provisions of this Section (4)(b) pursuant to written agreements
        in
        form and substance reasonably satisfactory to the Required Holders and approved
        by the Required Holders prior to such Fundamental Transaction, including
        agreements to deliver to each holder of Warrants in exchange for such Warrants
        a
        security of such Successor Entity evidenced by a written instrument
        substantially similar in form and substance to this Warrant, including, without
        limitation, an adjusted exercise price equal to the value for the Ordinary
        Shares reflected by the terms of such Fundamental Transaction, and exercisable
        for a corresponding number of shares of capital stock equivalent to the Ordinary
        Shares underlying the Warrant Shares acquirable and receivable upon exercise
        of
        this Warrant (without regard to any limitations on the exercise of this Warrant)
        prior to such Fundamental Transaction, and reasonably satisfactory to the
        Required Holders and (ii)&#160;such Successor Entity is a publicly traded
        corporation whose common shares (or whose American Depositary Shares) are
        quoted
        on or listed for trading on an Eligible Market. Upon the occurrence of any
        Fundamental Transaction, such Successor Entity shall succeed to, and be
        substituted for (so that from and after the date of such Fundamental
        Transaction, the provisions of this Warrant referring to the &#8220;Company&#8221; shall
        refer instead to such Successor Entity), and may exercise every right and
        power
        of the Company and shall assume all of the obligations of the Company under
        this
        Warrant with the same effect as if such Successor Entity had been named as
        the
        Company herein. Upon consummation of the Fundamental Transaction, such Successor
        Entity shall deliver to the Holder confirmation that there shall be issued
        upon
        exercise of this Warrant at any time after the consummation of the Fundamental
        Transaction, in lieu of the Warrant Shares (or other securities, cash, assets
        or
        other property) purchasable upon the exercise of the Warrant prior to such
        Fundamental Transaction, such shares of the publicly traded common stock
        (or
        their equivalent) of the Successor Entity (including its Parent Entity),
        as
        adjusted in accordance with the provisions of this Warrant. In addition to
        and
        not in substitution for any other rights hereunder, prior to the consummation
        of
        any Fundamental Transaction pursuant to which holders of Ordinary Shares
        (directly or indirectly through Warrant Shares or otherwise) are entitled
        to
        receive securities or other assets with respect to or in exchange for Ordinary
        Shares (a &#8220;Corporate Event&#8221;), the Company shall make appropriate provision, to
        the extent not prohibited by applicable law, to insure that the Holder will
        thereafter have the right to receive upon an exercise of this Warrant at
        any
        time after the consummation of the Fundamental Transaction but prior to the
        Expiration Date, in lieu of the Warrant Shares purchasable upon the exercise
        of
        the Warrant prior to such Fundamental Transaction, such, securities or other,
        assets which the Holder would have been entitled to receive upon the happening
        of such Fundamental Transaction had the Warrant been exercised immediately
        prior
        to such Fundamental Transaction. The provisions of this Section shall apply
        similarly and equally to successive Fundamental Transactions and Corporate
        Events and shall be applied without regard to any limitations on the exercise
        of
        this Warrant.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>NONCIRCUMVENTION</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company hereby covenants and agrees that the Company will not, by amendment
        of
        its Constitution or Bylaws or through any reorganization, transfer of assets,
        consolidation, merger, scheme of arrangement, dissolution, issue or sale
        of
        securities, or any other voluntary action, avoid or seek to avoid the observance
        or performance of any of the terms of this Warrant, and will at all times
        in
        good faith carry out all the provisions of this Warrant and take all action
        as
        may be required to protect the rights of the Holder. Without limiting the
        generality of the foregoing, the Company (i)&#160;shall not increase the
        par
        value of any Ordinary Shares underlying the Warrant Shares receivable upon
        the
        exercise of this Warrant above the Exercise Price then in effect and
        (ii)&#160;shall take all such actions as may be necessary or appropriate
        in
        order that the Company may validly and legally issue fully paid and
        nonassessable Warrant Shares upon the exercise of this Warrant.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
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          <div id="GLFTR" style="WIDTH: 100%" align="left">
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          </div>
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        <div id="HDR">
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          </div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>WARRANT
        HOLDER NOT DEEMED A STOCKHOLDER</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Except
        as otherwise specifically provided herein, the Holder, solely in such Person&#8217;s
        capacity as a holder of this Warrant, shall not be entitled to vote or receive
        dividends or be deemed the holder of share capital of the Company for any
        purpose, nor shall anything contained in this Warrant be construed to confer
        upon the Holder, solely in such Person&#8217;s capacity as the Holder of this Warrant,
        any of the rights of a shareholder of the Company or any right to vote, give
        or
        withhold consent to any corporate action (whether any reorganization, issue
        of
        stock, reclassification of stock, consolidation, merger, conveyance or
        otherwise), receive notice of meetings, receive dividends or subscription
        rights, or otherwise, prior to the issuance to the Holder of the Warrant
        Shares
        which such Person is then entitled to receive upon the due exercise of this
        Warrant. In addition, nothing contained in this Warrant shall be construed
        as
        imposing any liabilities on the Holder to purchase any securities (upon exercise
        of this Warrant or otherwise) or as a shareholder of the Company, whether
        such
        liabilities are asserted by the Company or by creditors of the Company.
        Notwithstanding this Section 6, the Company shall provide the Holder with
        copies
        of the same notices and other information given to the shareholders of the
        Company generally, contemporaneously with the giving thereof to the
        shareholders.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>REISSUANCE
        OF WARRANTS</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Transfer
        of Warrant</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If this
        Warrant is to be transferred, the Holder shall surrender this Warrant to
        the
        Company, whereupon the Company will forthwith issue and deliver upon the
        order
        of the Holder a new Warrant (in accordance with Section 7(d)), registered
        as the
        Holder may request, representing the right to purchase the number of Warrant
        Shares being transferred by the Holder and, if less then the total number
        of
        Warrant Shares then underlying this Warrant is being transferred, a new Warrant
        (in accordance with Section 7(d)) to the Holder representing the right to
        purchase the number of Warrant Shares not being transferred.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Lost,
        Stolen or Mutilated Warrant</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Upon
        receipt by the Company of evidence reasonably satisfactory to the Company
        of the
        loss, theft, destruction or mutilation of this Warrant, and, in the case
        of
        loss, theft or destruction, of any indemnification undertaking by the Holder
        to
        the Company in customary form and, in the case of mutilation, upon surrender
        and
        cancellation of this Warrant, the Company shall execute and deliver to the
        Holder a new Warrant (in accordance with Section 7(d)) representing the right
        to
        purchase the Warrant Shares then underlying this Warrant.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Exchangeable
        for Multiple Warrants</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        This
        Warrant is exchangeable, upon the surrender hereof by the Holder at the
        principal office of the Company, for a new Warrant or Warrants (in accordance
        with Section 7(d)) representing in the aggregate the right to purchase the
        number of Warrant Shares then underlying this Warrant, and each such new
        Warrant
        will represent the right to purchase such portion of such Warrant Shares
        as is
        designated by the Holder at the time of such surrender; provided, however,
        that
        no Warrants for fractional Warrant Shares shall be given.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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          </div>
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        <div id="HDR">
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Issuance
        of New Warrants</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Whenever the Company is required to issue a new Warrant pursuant to the terms
        of
        this Warrant, such new Warrant (i)&#160;shall be of like tenor with this
        Warrant, (ii)&#160;shall represent, as indicated on the face of such new
        Warrant, the right to purchase the Warrant Shares then underlying this Warrant
        (or in the case of a new Warrant being issued pursuant to Section 7(a) or
        Section 7(c), the Warrant Shares designated by the Holder which, when added
        to
        the number of Warrant Shares underlying the other new Warrants issued in
        connection with such issuance, does not exceed the number of Warrant Shares
        then
        underlying this Warrant), (iii)&#160;shall have an issuance date, as indicated
        on the face of such new Warrant which is the same as the Issuance Date, and
        (iv)&#160;shall have the same rights and conditions as this
        Warrant.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>NOTICES;
        CURRENCY</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Notices</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Whenever notice is required to be given under this Warrant, unless otherwise
        provided herein, such notice shall be given in accordance with Section 9(f)
        of
        the Securities Purchase Agreement. The Company shall provide the Holder with
        prompt written notice of all actions taken pursuant to this Warrant, including
        in reasonable detail a description of such action and the reason therefore.
        Without limiting the generality of the foregoing, the Company will give written
        notice to the Holder (i)&#160;immediately upon any adjustment of the Exercise
        Price, setting forth in reasonable detail, and certifying, the calculation
        of
        such adjustment and (ii)&#160;at least fifteen days prior to the date on
        which
        the Company closes its books or takes a record (A)&#160;with respect to
        any
        dividend or distribution upon the Ordinary Shares or Warrant Shares,
        (B)&#160;with respect to any grants, issuances or sales of any Options,
        Convertible Securities or rights to purchase stock, warrants, securities
        or
        other property to holders of Ordinary Shares or Warrant Shares or (C)&#160;for
        determining rights to vote with respect to any Fundamental Transaction,
        dissolution or liquidation, provided in each case that such information shall
        be
        made known to the public prior to or in conjunction with such notice being
        provided to the Holder.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Currency</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Unless
        otherwise indicated, all dollar amounts referred to in this Warrant are in
        United States Dollars.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>AMENDMENT
        AND WAIVER</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        provisions of this Warrant may be amended by the Company and the Company
        may
        take any action herein prohibited, or omit to perform any act herein required
        to
        be performed by it, only if the Company has obtained the written consent
        of the
        Required Holders and approval from the holders of Ordinary Shares at a
        shareholders meeting held in accordance with the ASX Listing Rules and
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Corporations
        Act 2001</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        (Cth) or
        if otherwise permitted by the ASX Listing Rules. Notwithstanding any provision
        of this Warrant, , a term of this Warrant which has the effect of reducing
        the
        exercise price, increasing the period for exercise or increasing the number
        of
        Warrant Shares or Ordinary Shares received on exercise is prohibited if it
        would
        result in a breach of the ASX Listing Rules. Notwithstanding the above, no
        change may increase the exercise price of any SPA Warrant or decrease the
        number
        of Warrant Shares or class of stock obtainable upon exercise of any SPA Warrant
        without the written consent of the Holder, unless otherwise provided in the
        ASX
        Listing Rules. A change which has the effect of reducing the purchase price,
        increasing the period for exercise or increasing the number of securities
        received cannot be made. In addition, subject to the ASX Listing Rules, no
        such
        amendment shall be effective to the extent that it applies to less than all
        of
        the holders of the SPA Warrants then outstanding.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
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          </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-10-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>SEVERABILITY</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If any
        provision of this Warrant or the application thereof becomes or is declared
        by a
        court of competent jurisdiction to be illegal, void or unenforceable, the
        remainder of the terms of this Warrant will continue in full force and
        effect.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>GOVERNING
        LAW</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        This
        Warrant shall be governed by and construed and enforced in accordance with,
        and
        all questions concerning the construction, validity, interpretation and
        performance of this Warrant shall be governed by, the internal laws of the
        State
        of New York, without giving effect to any choice of law or conflict of law
        provision or rule (whether of the State of New York or any other jurisdictions)
        that would cause the application of the laws of any jurisdictions other than
        the
        State of New York.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">11</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>CONSTRUCTION;
        HEADINGS</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        This
        Warrant shall be deemed to be jointly drafted by the Company and all the
        Buyers
        and shall not be construed against any person as the drafter hereof. The
        headings of this Warrant are for convenience of reference and shall not form
        part of, or affect the interpretation of, this Warrant.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">12</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>DISPUTE
        RESOLUTION</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        In the
        case of a dispute as to the determination of the Exercise Price or the
        calculation of the Warrant Shares, the Company shall submit the disputed
        determinations or arithmetic calculations via facsimile within two (2) Business
        Days of receipt of the Exercise Notice giving rise to such dispute, as the
        case
        may be, to the Holder. If the Holder and the Company are unable to agree
        upon
        such determination or calculation within three (3) Business Days of such
        disputed determination or arithmetic calculation being submitted to the Holder,
        then the Company shall, within two Business Days submit via facsimile
        (a)&#160;the disputed determination of the Exercise Price to an independent,
        reputable investment bank selected by the Company and approved by the Holder
        or
        (b)&#160;the disputed arithmetic calculation of the Warrant Shares to the
        Company&#8217;s independent, outside accountant. The Company at the Company&#8217;s expense,
        shall cause the investment bank or the accountant, as the case may be, to
        perform the determinations or calculations and notify the Company and the
        Holder
        of the results no later than ten Business Days from the time it receives
        the
        disputed determinations or calculations. Such investment bank&#8217;s or accountant&#8217;s
        determination or calculation, as the case may be, shall be binding upon all
        parties absent demonstrable error.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">13</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>REMEDIES,
        OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        remedies provided in this Warrant shall be cumulative and in addition to
        all
        other remedies available under this Warrant and the other Transaction Documents,
        at law or in equity (including a decree of specific performance and/or other
        injunctive relief), and nothing herein shall limit the right of the Holder
        right
        to pursue actual damages for any failure by the Company to comply with the
        terms
        of this Warrant. The Company acknowledges that a breach by it of its obligations
        hereunder will cause irreparable harm to the Holder and that the remedy at
        law
        for any such breach may be inadequate. The Company therefore agrees that,
        in the
        event of any such breach or threatened breach, the holder of this Warrant
        shall
        be entitled, in addition to all other available remedies, to an injunction
        restraining any breach, without the necessity of showing economic loss and
        without any bond or other security being required.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
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          </div>
        </div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">14</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>TRANSFER</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        This
        Warrant may be offered for sale, sold, transferred or assigned without the
        consent of the Company, except as may otherwise be required by Section 2(f)
        of
        the Securities Purchase Agreement.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">15</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>CERTAIN
        DEFINITIONS</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        For
        purposes of this Warrant, the following terms shall have the following
        meanings:</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ADRs</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        the American Depositary Receipts of the Company evidencing the American
        Depositary Shares of the Company which each represent ten (10) Ordinary
        Shares.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ASX</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        the Australian Stock Exchange</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Bloomberg</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        Bloomberg Financial Markets.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Business
        Day</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        any day other than Saturday, Sunday or other day on which commercial banks
        in
        The City of New York, State of New York, U.S.A. or Perth, Australia are
        authorized or required by law to remain closed.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Closing
        Bid Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        and
&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Closing
        Sale Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means,
        for any security as of any date, the last closing bid price and last closing
        trade price, respectively, for such security on the Principal Market, as
        reported by Bloomberg, or, if the Principal Market begins to operate on an
        extended hours basis and does not designate the closing bid price or the
        closing
        trade price, as the case may be, then the last bid price or last trade price,
        respectively, of such security prior to 4:00:00 p.m., New York Time, as reported
        by Bloomberg, or, if the Principal Market is not the principal securities
        exchange or trading market for such security, the last closing bid price
        or last
        trade price, respectively, of such security on the principal securities exchange
        or trading market where such security is listed or traded as reported by
        Bloomberg, or if the foregoing do not apply, the last closing bid price or
        last
        trade price, respectively, of such security in the over-the-counter market
        on
        the electronic bulletin board for such security as reported by Bloomberg,
        or, if
        no closing bid price or last trade price, respectively, is reported for such
        security by Bloomberg, the average of the bid prices, or the ask prices,
        respectively, of any market makers for such security as reported in the &#8220;pink
        sheets&#8221; by Pink Sheets LLC (formerly the National Quotation Bureau, Inc.). If
        the Closing Bid Price or the Closing Sale Price cannot be calculated for
        a
        security on a particular date on any of the foregoing bases, the Closing
        Bid
        Price or the Closing Sale Price, as the case may be, of such security on
        such
        date shall be the fair market value as mutually determined by the Company
        and
        the Holder. If the Company and the Holder are unable to agree upon the fair
        market value of such security, then such dispute shall be resolved pursuant
        to
        Section 12. All such determinations to be appropriately adjusted for any
        stock
        dividend, stock split, stock combination or other similar transaction during
        the
        applicable calculation period.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(f)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Convertible
        Securities</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        any stock or securities (other than Options) directly or indirectly convertible
        into or exercisable or exchangeable for ADRs or Ordinary Shares.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(g)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Deposit
        Agreement</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means
        that certain Deposit Agreement, dated as of January 24, 2005 by and among
        the
        Company, the Depositary and the holders and beneficial owners from time to
        time
        of ADSs evidenced by ADRs issued pursuant to such agreement.</font></div>
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        Buyers.</font></div>
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        the holders of the SPA Warrants representing at least a majority of Warrant
        Shares underlying the SPA Warrants then outstanding.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(t)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SPA
        Securities</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(u)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Successor
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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        WITNESS WHEREOF</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        the
        Company has caused this Warrant to Purchase ADRs to be duly executed as of
        the
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            <tr valign="top" bgcolor="#ffffff">
              <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
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</font>pSIVIDA
                LIMITED</strong></font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td>&#160;</td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
              <td>&#160;</td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td colspan="2"><font style="FONT-FAMILY: Times New Roman" size="1">&#160;</font></td>
              <td align="left">
                <hr style="COLOR: #000000" align="left" noshade size="2" width="80%">
              </td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td>
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Name:
                  Gavin Rezos</font></div>
                <div><font size="2">Title:&#160;&#160; Managing
                  Director</font></div>
              </td>
            </tr>

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<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>5
<FILENAME>v029459_ex99-4.htm
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EXHIBIT
        99.4</strong></font></div>
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        of Registration Rights Agreement</strong></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>FORM</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">REGISTRATION
        RIGHTS AGREEMENT</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">REGISTRATION
        RIGHTS AGREEMENT (this "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Agreement</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        dated
        as of November 15,</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2005,
        by
        and among </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">pSivida
        Limited, </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">an
        Australian corporation, with headquarters located at Level 12 BGC Centre,
        28 The
        Esplanade, Perth Australia 6000 (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Company</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        and
        the undersigned buyers (each, a "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Buyer</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        and
        collectively, the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Buyers</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">").</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WHEREAS:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
        connection with the Securities Purchase Agreement by and among the parties
        hereto of even date herewith (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Securities
        Purchase Agreement</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        the
        Company has agreed, upon the terms and subject to the conditions of the
        Securities Purchase Agreement, to issue and sell to the Buyers an aggregate
        of
        (i) $15 million in principal amount of convertible notes (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Notes</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        which
        will be convertible into ADRs (as defined hereinafter) (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Conversion
        Shares</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        in
        accordance with the terms of the Notes and (ii) warrants (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Warrants</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        which
        will be exercisable to purchase ADRs (as exercised, the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Warrant
        Shares</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">").</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">B.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
        induce
        the Buyers to execute and deliver the Securities Purchase Agreement, the
        Company
        has agreed to provide certain registration rights under the Securities Act
        of
        1933, as amended, and the rules and regulations thereunder, or any similar
        successor statute (collectively, the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>1933
        Act</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        and
        applicable state securities laws.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">C.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
        further induce the Buyers to execute and deliver the Securities Purchase
        Agreement, the Company has agreed that in the event that a Registration Event
        (as defined in the Warrants) occurs, the Company shall, at the request of
        the
        Required Holders (as defined below), register (a "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Subsequent
        Registration</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        the
        Warrant Shares underlying any outstanding Warrants.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOW,
        THEREFORE, in consideration of the premises and the mutual covenants contained
        herein and other good and valuable consideration, the receipt and sufficiency
        of
        which are hereby acknowledged, the Company and each of the Buyers hereby
        agree
        as follows:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Definitions</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
        used
        in this Agreement, the following terms shall have the following
        meanings:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ADRs</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        the American Depositary Receipts of the Company evidencing the American
        Depositary Shares of the Company which each represent ten (10) ordinary shares
        of the Company ("</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Ordinary
        Shares</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">").</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Business
        Day</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        any day other than Saturday, Sunday or any other day on which commercial
        banks
        in The City of New York, State of New York, U.S. A. or Perth, Australia are
        authorized or required by law to remain closed.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Closing
        Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        shall
        have the meaning set forth in the Securities Purchase Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">d.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Effective
        Date</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means,
        with respect to the Initial Registration Statement or a Subsequent Registration
        Statement, the date such Registration Statement has been declared effective
        by
        the SEC.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">e.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Effectiveness
        Deadline</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        the Initial Effectiveness Deadline (as defined below) and the Subsequent
        Effectiveness Deadline (as defined below), as applicable.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">f.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Initial</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Effectiveness
        Deadline</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        the date which is 180 days after the date of this Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">g.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Initial</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Registrable
        Securities</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        (i)&#160;the Conversion Shares, (ii) the Warrant Shares, (iii) any Interest
        Shares (as defined in the Notes) issued or issuable under the Notes and
        (iv)&#160;any shares of capital stock issued or issuable with respect to
        the
        Conversion Shares, the Interest Shares, the Warrant Shares, the Notes and
        the
        Warrants, as a result of any stock split, stock dividend, recapitalization,
        exchange or similar event or otherwise, without regard to any limitations
        on
        conversions of the Notes or exercises of the Warrants.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">h.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Initial</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Required
        Registration Amount</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        (i) 130% of the number of Conversion Shares issued and issuable as of the
        Trading Day immediately preceding the applicable date of determination, (ii)
        130% of the number of Warrant Shares issued and issuable pursuant to the
        Warrants as of the Trading Day immediately preceding the applicable date
        of
        determination, in each case subject to adjustment as provided in Section
        2(f)
        and (iii) 100% of the Interest Shares paid by the Company.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">i.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Investor</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means a
        Buyer, any transferee or assignee thereof to whom a Buyer assigns its rights
        under this Agreement and who agrees to become bound by the provisions of
        this
        Agreement in accordance with Section 9 and any transferee or assignee thereof
        to
        whom a transferee or assignee assigns its rights under this Agreement and
        who
        agrees to become bound by the provisions of this Agreement in accordance
        with
        Section 9.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">j.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Person</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        an individual, a limited liability company, a partnership, a joint venture,
        a
        corporation, a trust, an unincorporated organization and a government or
        any
        department or agency thereof.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">k.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>register</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,"
        "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>registered</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,"
        and
        "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>registration</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        refer
        to a registration effected by preparing and filing one or more Registration
        Statements in compliance with the 1933 Act and pursuant to Rule 415 and the
        declaration or ordering of effectiveness of such Registration Statement(s)
        by
        the SEC.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">l.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Registrable
        Securities</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        the Initial Registrable Securities and the Subsequent Registrable
        Securities.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">m.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Registration
        Statement</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means a
        registration statement or registration statements of the Company filed under
        the
        1933 Act covering the Registrable Securities.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">n.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Required
        Holders</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        the holders of at least a majority of the Registrable Securities.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">o.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Required
        Registration Amount</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        with respect to an Initial Registration Statement, the Initial Required
        Registration Amount, and, with respect to a Subsequent Registration Statement,
        the Subsequent Required Registration Amount.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">p.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Rule
        415</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        Rule 415 under the 1933 Act or any successor rule providing for offering
        securities on a continuous or delayed basis.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">q.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Subsequent
        Filing Deadline</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        30 days after the date of receipt by the Company of a Subsequent Registration
        Request.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">r.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Subsequent
        Effectiveness Deadline</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        120 days after the date of receipt by the Company of a Subsequent Registration
        Request.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">s.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Subsequent
        Registrable Securities</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means,
        after the second anniversary of the Issuance Date, the Warrant Shares issued
        and
        issuable in connection with the Warrants, provided that there shall have
        occurred a Registration Event. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">t.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Subsequent
        Registration Request</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;
        means a
        request to the Company from a Holder of Warrants for a Subsequent Registration
        of Subsequent Registrable Securities, which Subsequent Registration Request
        has
        been sent to and received by the Company within 30 days of the Registration
        Event to which it relates.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">u.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Subsequent
        Registration Statement</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means a
        registration statement or registration statements of the Company filed under
        the
        1933 Act covering any Subsequent Registrable Securities.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">v.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Subsequent
        Required Registration Amount</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        130% of the number of Warrant Shares issued and issuable pursuant to the
        Warrant
        as of the Trading Day immediately preceding the applicable date of determination
        which have not previously been sold pursuant to an effective registration
        statement, without restriction pursuant to Rule 144(k) or on the ASX, subject
        to
        adjustment as provided in Section 2(f).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">w.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SEC</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        the United States Securities and Exchange Commission.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">x.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Trading
        Day</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        means
        any day on which the ADRs are traded on the Nasdaq National Market, or, if
        the
        Nasdaq National Market is not the principal trading market for the ADRs,
        then on
        the principal securities exchange or securities market on which the ADRs
        are
        then traded; provided that "Trading Day" shall not include any day on which
        the
        ADRs are scheduled to trade on such exchange or market for less than 4.5
        hours
        or any day that the ADRs are suspended from trading during the final hour
        of
        trading on such exchange or market (or if such exchange or market does not
        designate in advance the closing time of trading on such exchange or market,
        then during the hour ending at 4:00:00 p.m., New York Time).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          </div>
        </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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        </div>
        <div id="HDR">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Capitalized
        terms used herein and not otherwise defined herein shall have the respective
        meanings set forth in the Securities Purchase Agreement. In the event that
        the
        Company&#8217;s Board of Directors should determine that the Company shall transform
        itself (whether by re-incorporation in the United States or otherwise) from
        a
        foreign private issuer (as defined in the Securities Act of 1933, as amended)
        ,
        all references to ADRs shall be deemed references to the securities that
        are
        substituted for the ADRs with equitable adjustment of the provisions of this
        Agreement for such substituted securities. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Registration.</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Initial
        Mandatory Registration</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company shall prepare, and, as soon as practicable, file with the SEC the
        Initial Registration Statement on Form F-3 or Form S-3 covering the resale
        of
        all of the Initial Registrable Securities. In the event that Form F-3 or
        Form
        S-3 is unavailable for such a registration, the Company shall use Form F-1
        or
        Form S-1, as applicable, subject to the provisions of Section 2(e). The Initial
        Registration Statement prepared pursuant hereto shall register for resale
        at
        least the number of ADRs equal to the Initial Required Registration Amount
        as of
        the date the Initial Registration Statement is initially filed with the SEC.
        The
        Initial Registration Statement shall contain (except if otherwise directed
        by
        the Required Holders) the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Selling
        Shareholders</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        and
        "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Plan
        of Distribution</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"
        sections in substantially the form attached hereto as </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Exhibit
        B</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        with
        such changes as may be appropriate to reflect the inclusion of other permissible
        securities of the Company and other changes which may be necessary or
        appropriate. The Company shall use its reasonable best efforts to have the
        Initial Registration Statement declared effective by the SEC as soon as
        practicable, but in no event later than the Initial Effectiveness
        Deadline.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Subsequent
        Mandatory Registrations</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company shall, after the occurrence of a Registration Event and upon receipt
        of
        a Subsequent Registration Request, prepare, and, as soon as practicable but
        in
        no event later that the Subsequent Filing Deadline, file with the SEC a
        Subsequent Registration Statement on Form SB-2 or Form S-3 covering the resale
        of all of the Subsequent Registrable Securities. In the event that Form SB-2
        or
        Form S-3 is unavailable for such a registration, the Company shall use such
        other form as is available for such a registration on another appropriate
        form
        reasonably acceptable to the Required Holders, subject to the provisions
        of
        Section 2(e). Each Subsequent Registration Statement prepared pursuant hereto
        shall register for resale at least that number of ADRs equal to the Subsequent
        Required Registration Amount as of the date such Registration Statement is
        initially filed with the SEC. Each Subsequent Registration Statement shall
        contain (except if otherwise directed by the Required Holders) the "Selling
        Shareholders" and "Plan of Distribution" sections in substantially the form
        attached hereto as Exhibit B, with such changes as may be necessary or
        appropriate. The Company shall use its reasonable best efforts to have each
        Subsequent Registration Statement declared effective by the SEC as soon as
        practicable, but in no event later than the applicable Subsequent Effectiveness
        Deadline.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Allocation
        of Registrable Securities</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        initial number of Registrable Securities included in any Registration Statement
        and any increase in the number of Registrable Securities included therein
        shall
        be allocated pro rata among the Investors based on the number of Registrable
        Securities held by each Investor at the time the Registration Statement covering
        such initial number of Registrable Securities or increase thereof is declared
        effective by the SEC. In the event that an Investor sells or otherwise transfers
        any of such Investor's Registrable Securities, each transferee shall be
        allocated a pro rata portion of the then remaining number of Registrable
        Securities included in such Registration Statement for such transferor. Any
        ADRs
        included in a Registration Statement and which remain allocated to any Person
        which ceases to hold any Registrable Securities covered by such Registration
        Statement shall be allocated to the remaining Investors, pro rata based on
        the
        number of Registrable Securities then held by such Investors which are covered
        by such Registration Statement. Other than as permitted by Section 4(k) of
        the
        Securities Purchase Agreement, in no event shall the Company include any
        securities other than Registrable Securities on any Registration Statement
        without the prior written consent of the Required Holders.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
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          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
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          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">d.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Legal
        Counsel</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Subject
        to Section 5 hereof, the Required Holders shall have the right to select
        one
        legal counsel to review and oversee any registration pursuant to this Section
        2,
        which shall be Schulte Roth &amp; Zabel LLP or such other counsel as is
        thereafter designated in writing by the Required Holders prior to the initiation
        of such other legal counsel's review and oversight of any registration
        ("</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Legal
        Counsel</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">").
        The
        Company and Legal Counsel shall reasonably cooperate with each other in
        performing the Company's obligations under this Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">e.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Ineligibility
        for Form F-3 or Form S-3</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        In the
        event that Form F-3 or Form S-3 is not available for the registration of
        the
        resale of Registrable Securities hereunder, the Company shall (i) register
        the
        resale of the Registrable Securities on another appropriate form reasonably
        acceptable to the Required Holders and (ii) undertake to register the
        Registrable Securities on Form F-3 or Form S-3 as soon as such form is
        available, provided that the Company shall maintain the effectiveness of
        the
        Registration Statement then in effect until such time as a Registration
        Statement on Form F-3 or Form S-3 covering the Registrable Securities has
        been
        declared effective by the SEC.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">f.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Sufficient
        Number of ADRs Registered</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        In the
        event the number of ADRs available under a Registration Statement filed pursuant
        to Section 2(a) is insufficient to cover all of the Registrable Securities
        required to be covered by such Registration Statement or an Investor's allocated
        portion of the Registrable Securities pursuant to Section 2(c), the Company
        shall amend the applicable Registration Statement, or file a new Registration
        Statement (on the short form available therefor, if applicable), or both,
        so as
        to cover at least the Required Registration Amount, but as of the Trading
        Day
        immediately preceding the date of the filing of such amendment or new
        Registration Statement, in each case, as soon as practicable, but in any
        event
        not later than fifteen (15) Business Days after the necessity therefor arises.
        The Company shall use its best efforts to cause such amendment and/or new
        Registration Statement to become effective as soon as practicable following
        the
        filing thereof. For purposes of the foregoing provision, the number of ADRs
        available under a Registration Statement shall be deemed "insufficient to
        cover
        all of the Registrable Securities" if at any time the number of ADRs available
        for resale under the Registration Statement is less than the product determined
        by multiplying (i) the Required Registration Amount by (ii) 0.90. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        calculation set forth in the foregoing sentence shall be made without regard
        to
        any limitations on the conversion of the Notes or the exercise of the Warrants
        and such calculation shall assume that the Notes and the Warrants are then
        convertible into ADRs and are issuable at the then prevailing Interest
        Conversion Price (as defined in the Notes), Conversion Rate (as defined in
        the
        Notes) or Exercise Price (as defined in the Warrants), as
        applicable.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">g.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Effect
        of Failure to File and Obtain and Maintain Effectiveness of Registration
        Statement</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        If (i)
        a Registration Statement covering all of the Registrable Securities required
        to
        be covered thereby and required to be filed by the Company pursuant to this
        Agreement is not (A) with respect to a Subsequent Registration Statement,
        filed
        with the SEC on or before the Subsequent Filing Deadline (a "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Filing
        Failure</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        or (B)
        declared effective by the SEC on or before the respective Effectiveness Deadline
        (an "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Effectiveness
        Failure</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        or
        (ii) on any day after the Effective Date (A) sales of all of the Registrable
        Securities required to be included on such Registration Statement cannot
        be made
        (other than during an Allowable Grace Period (as defined in Section 3(r))
        pursuant to such Registration Statement (including, without limitation, because
        of a failure to keep such Registration Statement effective, to disclose such
        information as is necessary for sales to be made pursuant to such Registration
        Statement or to register a sufficient number of ADRs), (B) the Registrable
        Securities are not listed or included for quotation on an Eligible Market
        (as
        defined in the Notes) or trading of the ADRs is suspended or halted thereon
        (other than during an Allowable Trading Grace Period) (each, a "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Maintenance
        Failure</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        then,
        as partial relief for the damages to any holder by reason of any such delay
        in
        or reduction of its ability to sell the ADRs (which remedy shall not be
        exclusive of any other remedies available at law or in equity), the Company
        shall pay to each holder of Registrable Securities relating to such Registration
        Statement an amount in cash equal to one and one half percent (1.5%) of the
        aggregate Purchase Price of such Investor's Registrable Securities included
        in
        such Registration Statement on each of the following dates: (A) every thirtieth
        day (pro rated for periods totaling less than thirty days) after a Filing
        Failure until such Filing Failure is cured; (B) every thirtieth day (pro
        rated
        for periods totaling less than thirty days) from the date of an Effectiveness
        Failure until such Effectiveness Failure is cured and (C) every thirtieth
        day
        (pro rated for periods totaling less than thirty days) from the date of a
        Maintenance Failure until such Maintenance Failure is cured. The payments
        to
        which a holder shall be entitled pursuant to this Section 2(g) are referred
        to
        herein as "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Registration
        Delay Payments</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">."
        Registration Delay Payments shall be paid on the earlier of (I) the last
        day of
        the calendar month during which such Registration Delay Payments are incurred
        and (II) the fifth Business Day after the event or failure giving rise to
        the
        Registration Delay Payments is cured. In the event the Company fails to make
        Registration Delay Payments in a timely manner, such Registration Delay Payments
        shall bear interest at the rate of 1.0% per month (prorated for partial months)
        until paid in full.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Related
        Obligations.</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">At
        such
        time as the Company is obligated to file a Registration Statement with the
        SEC
        pursuant to Section 2(a), 2(b) or 2(f), the Company will use its reasonable
        best
        efforts to effect the registration of the Registrable Securities consistent
        with
        the Plan of Distribution and, pursuant thereto, the Company shall have the
        following obligations:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall promptly prepare and file with the SEC a Registration Statement
        with respect to the Registrable Securities and use its reasonable best efforts
        to cause such Registration Statement relating to the Registrable Securities
        to
        become effective as soon as practicable after such filing (but in no event
        later
        than the Effectiveness Deadline). The Company shall keep each Registration
        Statement effective pursuant to Rule 415 at all times until the earlier of
        (i)
        the date as of which the Investors may sell all of the Registrable Securities
        covered by such Registration Statement without restriction pursuant to Rule
        144(k) (or successor thereto) promulgated under the 1933 Act or (ii) the
        date on
        which the Investors shall have sold all the Registrable Securities covered
        by
        such Registration Statement (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Registration
        Period</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        which
        Registration Statement (including any amendments or supplements thereto and
        prospectuses contained therein) shall not contain any untrue statement of
        a
        material fact or omit to state a material fact required to be stated therein,
        or
        necessary to make the statements therein, in the light of the circumstances
        in
        which they were made, not misleading. The term "best efforts" shall mean,
        among
        other things, that the Company shall submit to the SEC, within four (4) Business
        Days after the later of the date that (i) Company learns that no review of
        a
        particular Registration Statement will be made by the staff of the SEC or
        that
        the staff has no further comments on the Registration Statement, as the case
        may
        be, and (ii) the approval of Legal Counsel pursuant to Section 3(c) (which
        approval is immediately sought), a request for acceleration of effectiveness
        of
        such Registration Statement to a time and date not later than 48 hours after
        the
        submission of such request. </font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall prepare and file with the SEC such amendments (including
        post-effective amendments) and supplements to a Registration Statement and
        the
        prospectus used in connection with such Registration Statement, which prospectus
        is to be filed pursuant to Rule 424 promulgated under the 1933 Act, as may
        be
        necessary to keep such Registration Statement effective at all times during
        the
        Registration Period, subject to Allowable Grace Periods, and, during such
        period, comply with the provisions of the 1933 Act with respect to the
        disposition of all Registrable Securities of the Company covered by such
        Registration Statement. In the case of amendments and supplements to a
        Registration Statement which are required to be filed pursuant to this Agreement
        (including pursuant to this Section 3(b)) by reason of the Company filing
        a
        report on Form 10-K or 10-KSB, as applicable, Form 10-Q or 10-QSB, as
        applicable, or Form 8-K or any analogous report under the Securities Exchange
        Act of 1934, as amended (the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>1934
        Act</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        the
        Company shall have incorporated such report by reference into such Registration
        Statement, if applicable, or shall file such amendments or supplements with
        the
        SEC on the same day on which the 1934 Act report is filed which created the
        requirement for the Company to amend or supplement such Registration
        Statement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall (A) permit Legal Counsel to review and comment upon (i) a
        Registration Statement at least five (5) Business Days prior to its filing
        with
        the SEC and (ii) all amendments and supplements to all Registration Statements
        (except for reports incorporated by reference therein) within a reasonable
        number of days prior to their filing with the SEC, and (B) not file any
        Registration Statement or amendment or supplement thereto in a form to which
        Legal Counsel reasonably objects. The Company shall not submit a request
        for
        acceleration of the effectiveness of a Registration Statement or any amendment
        or supplement thereto without the prior approval of Legal Counsel, which
        consent
        shall not be unreasonably withheld. The Company shall furnish to Legal Counsel,
        without charge, (i) copies of any correspondence from the SEC or the staff
        of
        the SEC to the Company or its representatives relating to any Registration
        Statement, (ii) promptly after the same is prepared and filed with the SEC,
        one
        copy of any Registration Statement and any amendment(s) thereto, including
        financial statements and schedules, all documents incorporated therein by
        reference, if requested by an Investor, and all exhibits and (iii) upon the
        effectiveness of any Registration Statement, one copy of the prospectus included
        in such Registration Statement and all amendments and supplements thereto.
        The
        Company shall reasonably cooperate with Legal Counsel in performing the
        Company's obligations pursuant to this Section 3.</font></div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">d.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall furnish to each Investor whose Registrable Securities are included
        in any Registration Statement, without charge, (i) promptly after the same
        is
        prepared and filed with the SEC, at least one copy of such Registration
        Statement and any amendment(s) thereto, including financial statements and
        schedules, all documents incorporated therein by reference, if requested
        by an
        Investor, all exhibits and each preliminary prospectus, (ii) upon the
        effectiveness of any Registration Statement, ten (10) copies of the prospectus
        included in such Registration Statement and all amendments and supplements
        thereto (or such other number of copies as such Investor may reasonably request)
        and (iii) such other documents, including copies of any preliminary or final
        prospectus, as such Investor may reasonably request from time to time in
        order
        to facilitate the disposition of the Registrable Securities owned by such
        Investor.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">e.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall use its reasonable best efforts to (i) register and qualify,
        unless an exemption from registration and qualification applies, the resale
        by
        Investors of the Registrable Securities covered by a Registration Statement
        under such other securities or "blue sky" laws of all applicable jurisdictions
        in the United States, (ii) prepare and file in those jurisdictions, such
        amendments (including post-effective amendments) and supplements to such
        registrations and qualifications as may be necessary to maintain the
        effectiveness thereof during the Registration Period, (iii) take such other
        actions as may be necessary to maintain such registrations and qualifications
        in
        effect at all times during the Registration Period, and (iv) take all other
        actions reasonably necessary or advisable to qualify the Registrable Securities
        for sale in such jurisdictions; provided, however, that the Company shall
        not be
        required in connection therewith or as a condition thereto to (x) qualify
        to do
        business in any jurisdiction where it would not otherwise be required to
        qualify
        but for this Section 3(e), (y) subject itself to general taxation in any
        such
        jurisdiction, or (z) file a general consent to service of process in any
        such
        jurisdiction. The Company shall promptly notify Legal Counsel and each Investor
        who holds Registrable Securities of the receipt by the Company of any
        notification with respect to the suspension of the registration or qualification
        of any of the Registrable Securities for sale under the securities or "blue
        sky"
        laws of any jurisdiction in the United States or its receipt of actual notice
        of
        the initiation or threatening of any proceeding for such purpose.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">f.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall notify Legal Counsel and each Investor in writing, of the
        happening of any event, as promptly as practicable after becoming aware of
        such
        event, as a result of which the prospectus included in a Registration Statement,
        as then in effect, includes an untrue statement of a material fact or omission
        to state a material fact required to be stated therein or necessary to make
        the
        statements therein, in light of the circumstances under which they were made,
        not misleading (provided that in no event shall such notice contain any
        material, nonpublic information), and, subject to Section 3(r), promptly
        prepare
        a supplement or amendment to such Registration Statement to correct such
        untrue
        statement or omission, and deliver ten (10) copies of such supplement or
        amendment to Legal Counsel and each Investor (or such other number of copies
        as
        Legal Counsel or such Investor may reasonably request). The Company shall
        also
        promptly notify Legal Counsel and each Investor in writing, (i) when a
        prospectus or any prospectus supplement or post-effective amendment has been
        filed, and when a Registration Statement or any post-effective amendment
        has
        become effective (notification of such effectiveness shall be delivered to
        Legal
        Counsel and each Investor by facsimile or e-mail on the same day of such
        effectiveness and by overnight mail), (ii) of any request by the SEC for
        amendments or supplements to a Registration Statement or related prospectus
        or
        related information, and (iii) of the Company's reasonable determination
        that a
        post-effective amendment to a Registration Statement would be
        appropriate.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">g.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall use its reasonable best efforts to prevent the issuance of
        any
        stop order or other suspension of effectiveness of a Registration Statement,
        or
        the suspension of the qualification of any of the Registrable Securities
        for
        sale in any jurisdiction and, if such an order or suspension is issued, to
        obtain the withdrawal of such order or suspension at the earliest possible
        moment and to notify Legal Counsel and each Investor who holds Registrable
        Securities being sold of the issuance of such order and the resolution thereof
        or its receipt of actual notice of the initiation or threat of any proceeding
        for such purpose.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">h.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
        any
        Investor is required under applicable securities law to be described in the
        Registration Statement as an underwriter, at the reasonable request of any
        Investor, the Company shall furnish to such Investor, on the date of the
        effectiveness of the Registration Statement and thereafter from time to time
        on
        such dates as an Investor may reasonably request (i) a letter, dated such
        date,
        from the Company's independent certified public accountants in form and
        substance as is customarily given by independent certified public accountants
        to
        underwriters in an underwritten public offering, addressed to the Investors,
        and
        (ii) an opinion, dated as of such date, of counsel representing the Company
        for
        purposes of such Registration Statement, in form, scope and substance as
        is
        customarily given in an underwritten public offering, addressed to the
        Investors.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">i.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall make available for inspection by (i) any Investor, (ii) Legal
        Counsel and (iii) one firm of accountants or other agents retained by the
        Investors (collectively, the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Inspectors</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        all
        pertinent financial and other records, and pertinent corporate documents
        and
        properties of the Company (collectively, the "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Records</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        as
        shall be necessary and reasonably requested by each Inspector, and cause
        the
        Company's officers, directors and employees, counsel and the Company's
        independent certified public accountants to supply all information which
        may be
        necessary and any Inspector may reasonably request; provided, however, that
        each
        Inspector shall agree to hold in strict confidence and shall not make any
        disclosure (except to an Investor) or use of any Record or other information
        which the Company determines in good faith to be confidential, and of which
        determination the Inspectors are so notified, and such inspector executes
        any
        non-disclosure, non-use or similar document which may be reasonably required
        by
        Company, its independent certified public accountants or its counsel (and
        upon
        execution of which the Company shall not be deemed to be in violation of
        its
        agreement not to provide to such Investor any material, nonpublic information
        or
        to publicly disclose such information) unless (a) the disclosure of such
        Records
        is necessary to avoid or correct a misstatement or omission in any Registration
        Statement or is otherwise required under the 1933 Act, (b) the release of
        such
        Records is ordered pursuant to a final, non-appealable subpoena or order
        from a
        court or government body of competent jurisdiction, or (c) the information
        in
        such Records has been made generally available to the public other than by
        disclosure in violation of this or any other agreement of which the Inspector
        has knowledge. Each Investor agrees that it shall, upon learning that disclosure
        of such Records is sought in or by a court or governmental body of competent
        jurisdiction or through other means, give prompt notice to the Company and
        allow
        the Company, at its expense, to undertake appropriate action to prevent
        disclosure of, or to obtain a protective order for, the Records deemed
        confidential. Nothing herein (or in any other confidentiality agreement between
        the Company and any Investor) shall be deemed to limit the Investors' ability
        to
        sell Registrable Securities in a manner which is otherwise consistent with
        applicable laws and regulations.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">j.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall hold in confidence and not make any disclosure of information
        concerning an Investor provided to the Company unless (i) disclosure of such
        information is necessary to comply with federal or state securities laws,
        (ii)
        the disclosure of such information is necessary to avoid or correct a
        misstatement or omission in any Registration Statement, (iii) the release
        of
        such information is ordered pursuant to a subpoena or other final,
        non-appealable order from a court or governmental body of competent
        jurisdiction, or (iv) such information has been made generally available
        to the
        public other than by disclosure in violation of this Agreement or any other
        agreement of which the Company has knowledge. The Company agrees that it
        shall,
        upon learning that disclosure of such information concerning an Investor
        is
        sought in or by a court or governmental body of competent jurisdiction or
        through other means, give prompt written notice to such Investor and allow
        such
        Investor, at the Investor's expense, to undertake appropriate action to prevent
        disclosure of, or to obtain a protective order for, such
        information.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">k.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall use its reasonable best efforts either to (i) cause all the
        Registrable Securities covered by a Registration Statement to be listed on
        each
        securities exchange on which securities of the same class or series issued
        by
        the Company are then listed, if any, if the listing of such Registrable
        Securities is then permitted under the rules of such exchange, or (ii) secure
        designation and quotation of all the Registrable Securities covered by the
        Registration Statement on the Nasdaq National Market, or (iii) if, despite
        the
        Company's best efforts to satisfy the preceding clause (i) or (ii), the Company
        is unsuccessful in satisfying the preceding clause (i) or (ii), to secure
        the
        inclusion for quotation on The Nasdaq SmallCap Market for such Registrable
        Securities and, without limiting the generality of the foregoing, to use
        its
        best efforts to arrange for at least two market makers to register with the
        National Association of Securities Dealers, Inc. ("</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>NASD</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        as
        such with respect to such Registrable Securities. The Company shall pay all
        fees
        and expenses in connection with satisfying its obligation under this Section
        3(k).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">l.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall cooperate with the Investors who hold Registrable Securities
        being
        offered and, to the extent applicable, facilitate the timely preparation
        and
        delivery of certificates (not bearing any restrictive legend) representing
        the
        Registrable Securities to be offered pursuant to a Registration Statement
        and
        enable such certificates to be in such denominations or amounts, as the case
        may
        be, as the Investors may reasonably request and registered in such names
        as the
        Investors may request.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">m.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
        reasonably requested by an Investor, the Company shall as soon as reasonably
        practicable (i) incorporate in a prospectus supplement or post-effective
        amendment such information as an Investor reasonably requests to be included
        therein relating to the sale and distribution of Registrable Securities,
        including, without limitation, information with respect to the number of
        Registrable Securities being offered or sold, the purchase price being paid
        therefor and any other terms of the offering of the Registrable Securities
        to be
        sold in such offering; and (ii) make all required filings of such prospectus
        supplement or post-effective amendment after being notified of the matters
        to be
        incorporated in such prospectus supplement or post-effective amendment if
        reasonably requested by an Investor holding any Registrable
        Securities.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
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        <div id="HDR">
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          </div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">n.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall use its reasonable best efforts to cause the Registrable
        Securities covered by the Registration Statement to be registered with or
        approved by such other governmental agencies or authorities as may be necessary
        to consummate the disposition of such Registrable Securities.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">o.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall make generally available to its security holders as soon as
        practical, but not later than one hundred eighty (180) days after the close
        of
        the period covered thereby, an earnings statement (in form complying with
        the
        provisions of Rule 158 under the 1933 Act) covering a twelve-month period
        beginning not later than the first day of the Company's fiscal quarter next
        following the effective date of the Registration Statement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">p.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company shall otherwise use its best efforts to comply with all applicable
        rules
        and regulations of the SEC in connection with any registration
        hereunder.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">q.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Within
        three (3) Business Days after a Registration Statement which covers Registrable
        Securities is ordered effective by the SEC, the Company shall deliver, and
        shall
        cause legal counsel for the Company to deliver, to the transfer agent for
        such
        Registrable Securities (with copies to the Investors whose Registrable
        Securities are included in such Registration Statement) confirmation that
        such
        Registration Statement has been declared effective by the SEC substantially
        in
        the form attached hereto as </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Exhibit
        A</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>r.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notwithstanding
        anything to the contrary herein, the Company may delay, including by delaying
        the filing of a Registration Statement, the disclosure of material, non-public
        information concerning the Company the disclosure of which at the time is
        not,
        in the good faith opinion of the Board of Directors of the Company and its
        counsel, in the best interest of the Company and, in the opinion of counsel
        to
        the Company, otherwise required (a "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Grace
        Period</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        and,
        as applicable, suspend sales of Registered Securities under an effective
        Registration Statement; provided, that the Company shall promptly (i) notify
        the
        Investors in writing of the existence of material, non-public information
        giving
        rise to a Grace Period (provided that in each notice the Company will not
        disclose the content of such material, non-public information to the Investors)
        and the date on which the Grace Period will begin, and (ii) notify the Investors
        in writing of the date on which the Grace Period ends; and, provided further,
        that no Grace Period shall exceed 15 consecutive days and during any 365
        day
        period such Grace Periods shall not exceed an aggregate of 45 days and the
        first
        day of any Grace Period must be at least 2 Trading Days after the last day
        of
        any prior Grace Period (an "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Allowable
        Grace Period</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">").
        For
        purposes of determining the length of a Grace Period above, the Grace Period
        shall begin on and include the date the holders receive the notice referred
        to
        in clause (i) and shall end on and include the later of the date the holders
        receive the notice referred to in clause (ii) and the date referred to in
        such
        notice. The provisions of Sections 2(f) and 3(e) hereof shall not be applicable
        during the period of any Allowable Grace Period. Upon expiration of the Grace
        Period, the Company shall again be bound by the first sentence of Section
        3(f)
        with respect to the information giving rise thereto unless such material
        non-public information is no longer applicable. Notwithstanding anything
        to the
        contrary, the Company shall cause its transfer agent to deliver unlegended
        certificates for ADRs to a transferee of an Investor in accordance with the
        terms of the Securities Purchase Agreement in connection with any sale of
        Registrable Securities with respect to which an Investor has entered into
        a
        contract for sale, and delivered a copy of the prospectus included as part
        of
        the applicable Registration Statement, prior to the Investor's receipt of
        the
        notice of a Grace Period and for which the Investor has not yet settled.
        </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notwithstanding
        anything to the contrary herein, the Company may suspend trading of its equity
        securities on the applicable Eligible Market on which its equity securities
        are
        then trading, due to the existence of material, non-public information
        concerning the Company the disclosure of which at the time is not, in the
        good
        faith opinion of the Board of Directors of the Company and its counsel, in
        the
        best interest of the Company (a "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Trading
        Grace Period</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">");
        provided, that the Company shall promptly (i) notify the Investors in writing
        of
        the existence of such suspension (provided that in each notice the Company
        will
        not disclose the content of any material, non-public information to the
        Investors) and the date on which the Trading Grace Period will begin, and
        (ii)
        notify the Investors in writing of the date on which the Trading Grace Period
        ends; and, provided further, that no Trading Grace Period shall exceed 5
        consecutive days and during any 365 day period such Trading Grace Periods
        shall
        not exceed an aggregate of 15 days and the first day of any Trading Grace
        Period
        must be at least 2 Trading Days after the last day of any prior Trading Grace
        Period (an "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Allowable
        Grace Trading Period</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">").
        For
        purposes of determining the length of a Trading Grace Period above, the Trading
        Grace Period shall begin on and include the date the holders receive the
        notice
        referred to in clause (i) and shall end on and include the later of the date
        the
        holders receive the notice referred to in clause (ii) and the date referred
        to
        in such notice. The provisions of Sections 2(f) hereof shall not be applicable
        during the period of any Allowable Trading Grace Period.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Obligations
        of the Investors.</u></font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">At
        least
        five (5) Business Days prior to the first anticipated filing date of a
        Registration Statement, the Company shall notify each Investor in writing
        of the
        information the Company requires from each such Investor if such Investor
        elects
        to have any of such Investor's Registrable Securities included in such
        Registration Statement. It shall be a condition precedent to the obligations
        of
        the Company to complete the registration pursuant to this Agreement with
        respect
        to the Registrable Securities of a particular Investor that such Investor
        shall
        furnish to the Company such information regarding itself, the Registrable
        Securities held by it and the intended method of disposition of the Registrable
        Securities held by it, as shall be reasonably required to effect and maintain
        the effectiveness of the registration of such Registrable Securities and
        shall
        execute such documents in connection with such registration as the Company
        may
        reasonably request.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Each
        Investor, by such Investor's acceptance of the Registrable Securities, agrees
        to
        cooperate with the Company as reasonably requested by the Company in connection
        with the preparation and filing of any Registration Statement hereunder,
        unless
        such Investor has notified the Company in writing of such Investor's election
        to
        exclude all of such Investor's Registrable Securities from such Registration
        Statement.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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        Investor agrees that, upon receipt of any notice from the Company of the
        happening of any event of the kind described in Section 3(g) or the first
        sentence of 3(f), such Investor will immediately discontinue disposition
        of
        Registrable Securities pursuant to any Registration Statement(s) covering
        such
        Registrable Securities until such Investor's receipt of the copies of the
        supplemented or amended prospectus contemplated by Section 3(g) or the first
        sentence of 3(f) or receipt of notice that no supplement or amendment is
        required. Notwithstanding anything to the contrary, the Company shall cause
        its
        transfer agent to deliver unlegended certificates for ADRs to a transferee
        of an
        Investor in accordance with the terms of the Securities Purchase Agreement
        in
        connection with any sale of Registrable Securities with respect to which
        an
        Investor has entered into a contract for sale prior to the Investor's receipt
        of
        a notice from the Company of the happening of any event of the kind described
        in
        Section 3(g) or the first sentence of 3(f) and for which the Investor has
        not
        yet settled.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">d.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Each
        Investor covenants and agrees that it will comply with the prospectus delivery
        requirements of the 1933 Act as applicable to it in connection with sales
        of
        Registrable Securities pursuant to the Registration Statement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Expenses
        Of Registration.</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All
        reasonable expenses, other than underwriting discounts and commissions, incurred
        in connection with registrations, filings or qualifications pursuant to Sections
        2 and 3, including, without limitation, all registration, listing and
        qualifications fees, printers and accounting fees, and fees and disbursements
        of
        counsel for the Company shall be paid by the Company. The Company shall also
        reimburse Castlerigg Master Investments Ltd. for the fees and disbursements
        of
        Legal Counsel incurred in connection with registrations, filings or
        qualifications pursuant to Sections 2 and 3 of this Agreement which amount
        shall
        be limited to $10,000 in the aggregate.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Indemnification.</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
        the
        event any Registrable Securities are included in a Registration Statement
        under
        this Agreement:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
        the
        fullest extent permitted by law, the Company will, and hereby does, indemnify,
        hold harmless and defend each Investor, the directors, officers, partners,
        members, employees, agents, representatives of, and each Person, if any,
        who
        controls any Investor within the meaning of the 1933 Act or the 1934 Act
        (each,
        an "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Indemnified
        Person</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        against any losses, claims, damages, liabilities, judgments, fines, penalties,
        charges, costs, reasonable attorneys' fees, amounts paid in settlement or
        expenses, joint or several, (collectively, "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Claims</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">")
        incurred in investigating, preparing or defending any action, claim, suit,
        inquiry, proceeding, investigation or appeal taken from the foregoing by
        or
        before any court or governmental, administrative or other regulatory agency,
        body or the SEC, whether pending or threatened, whether or not an indemnified
        party is or may be a party thereto ("</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Indemnified
        Damages</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        to
        which any of them may become subject insofar as such Claims (or actions or
        proceedings, whether commenced or threatened, in respect thereof) arise out
        of
        or are based upon: (i) any untrue statement or alleged untrue statement of
        a
        material fact in a Registration Statement or any post-effective amendment
        thereto or in any filing made in connection with the qualification of the
        offering under the securities or other "blue sky" laws of any jurisdiction
        in
        which Registrable Securities are offered ("</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Blue
        Sky Filing</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        or
        the omission or alleged omission to state a material fact required to be
        stated
        therein or necessary to make the statements therein not misleading, (ii)
        any
        untrue statement or alleged untrue statement of a material fact contained
        in any
        preliminary prospectus if used prior to the effective date of such Registration
        Statement, or contained in the final prospectus (as amended or supplemented,
        if
        the Company files any amendment thereof or supplement thereto with the SEC)
        or
        the omission or alleged omission to state therein any material fact necessary
        to
        make the statements made therein, in light of the circumstances under which
        the
        statements therein were made, not misleading, (iii) any violation or alleged
        violation by the Company of the 1933 Act, the 1934 Act, any other law,
        including, without limitation, any state securities law, or any rule or
        regulation thereunder relating to the offer or sale of the Registrable
        Securities pursuant to a Registration Statement or (iv) any material violation
        of this Agreement (the matters in the foregoing clauses (i) through (iv)
        being,
        collectively, "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Violations</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">").
        Subject to Section 6(c), the Company shall reimburse the Indemnified Persons,
        promptly as such expenses are incurred and are due and payable, for any legal
        fees or other reasonable expenses incurred by them in connection with
        investigating or defending any such Claim. Notwithstanding anything to the
        contrary contained herein, the indemnification agreement contained in this
        Section 6(a): (i) shall not apply to a Claim by an Indemnified Person arising
        out of or based upon a Violation which occurs in reliance upon and in conformity
        with information furnished in writing to the Company by such Indemnified
        Person
        for such Indemnified Person expressly for use in connection with the preparation
        of the Registration Statement or any such amendment thereof or supplement
        thereto, if such prospectus was timely made available by the Company pursuant
        to
        Section 3(d); (ii) with respect to any preliminary prospectus, shall not
        inure
        to the benefit of any such person from whom the person asserting any such
        Claim
        purchased the Registrable Securities that are the subject thereof (or to
        the
        benefit of any person controlling such person) if the untrue statement or
        omission of material fact contained in the preliminary prospectus was corrected
        in the prospectus, as then amended or supplemented, if such prospectus was
        timely made available by the Company pursuant to Section 3(d), and the
        Indemnified Person was promptly advised in writing not to use the incorrect
        prospectus prior to the use giving rise to a Violation and such Indemnified
        Person, notwithstanding such advice, used it or failed to deliver the correct
        prospectus as required by the 1933 Act and such correct prospectus was timely
        made available pursuant to Section 3(d); (iii) shall not be available to
        the
        extent such Claim is based on a failure of the Investor to deliver or to
        cause
        to be delivered the prospectus made available by the Company, including a
        corrected prospectus, if such prospectus or corrected prospectus was timely
        made
        available by the Company pursuant to Section 3(d); and (iv) shall not apply
        to
        amounts paid in settlement of any Claim if such settlement is effected without
        the prior written consent of the Company, which consent shall not be
        unreasonably withheld or delayed. Such indemnity shall remain in full force
        and
        effect regardless of any investigation made by or on behalf of the Indemnified
        Person and shall survive the transfer of the Registrable Securities by the
        Investors pursuant to Section 9.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
        connection with any Registration Statement in which an Investor is
        participating, each such Investor agrees to severally and not jointly indemnify,
        hold harmless and defend, to the same extent and in the same manner as is
        set
        forth in Section 6(a), the Company, each of its directors, each of its officers
        who signs the Registration Statement and each Person, if any, who controls
        the
        Company within the meaning of the 1933 Act or the 1934 Act (each, an
        "</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Indemnified
        Party</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        against any Claim or Indemnified Damages to which any of them may become
        subject, under the 1933 Act, the 1934 Act or otherwise, insofar as such Claim
        or
        Indemnified Damages arise out of or are based upon any Violation, in each
        case
        to the extent, and only to the extent, that such Violation occurs in reliance
        upon and in conformity with written information furnished to the Company
        by such
        Investor expressly for use in connection with such Registration Statement;
        and,
        subject to Section 6(c), such Investor will reimburse any legal or other
        expenses reasonably incurred by an Indemnified Party in connection with
        investigating or defending any such Claim; provided, however, that the indemnity
        agreement contained in this Section 6(b) and the agreement with respect to
        contribution contained in Section 7 shall not apply to amounts paid in
        settlement of any Claim if such settlement is effected without the prior
        written
        consent of such Investor, which consent shall not be unreasonably withheld
        or
        delayed; provided, further, however, that the Investor shall be liable under
        this Section 6(b) for only that amount of a Claim or Indemnified Damages
        as does
        not exceed the net proceeds to such Investor as a result of the sale of
        Registrable Securities pursuant to such Registration Statement. Such indemnity
        shall remain in full force and effect regardless of any investigation made
        by or
        on behalf of such Indemnified Party and shall survive the transfer of the
        Registrable Securities by the Investors pursuant to Section 9. Notwithstanding
        anything to the contrary contained herein, the indemnification agreement
        contained in this Section 6(b) with respect to any preliminary prospectus
        shall
        not inure to the benefit of any Indemnified Party if the untrue statement
        or
        omission of material fact contained in the preliminary prospectus was corrected
        on a timely basis in the prospectus, as then amended or
        supplemented.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Promptly
        after receipt by an Indemnified Person or Indemnified Party under this Section
        6
        of notice of the commencement of any action or proceeding (including any
        governmental action or proceeding) involving a Claim, such Indemnified Person
        or
        Indemnified Party shall, if a Claim in respect thereof is to be made against
        any
        indemnifying party under this Section 6, deliver to the indemnifying party
        a
        written notice of the commencement thereof, and the indemnifying party shall
        have the right to participate in, and, to the extent the indemnifying party
        so
        desires, jointly with any other indemnifying party similarly noticed, to
        assume
        control of the defense thereof with counsel mutually satisfactory to the
        indemnifying party and the Indemnified Person or the Indemnified Party, as
        the
        case may be; provided, however, that an Indemnified Person or Indemnified
        Party
        shall have the right to retain its own counsel with the fees and expenses
        of not
        more than one counsel for such Indemnified Person or Indemnified Party to
        be
        paid by the indemnifying party, if, in the reasonable opinion of counsel
        retained by the indemnifying party, the representation by such counsel of
        the
        Indemnified Person or Indemnified Party and the indemnifying party would
        be
        inappropriate due to actual or potential differing interests between such
        Indemnified Person or Indemnified Party and any other party represented by
        such
        counsel in such proceeding. In the case of an Indemnified Person, legal counsel
        referred to in the immediately preceding sentence shall be selected by the
        Required Holders to which the Claim relates. The Indemnified Party or
        Indemnified Person shall cooperate reasonably with the indemnifying party
        in
        connection with any negotiation or defense of any such action or Claim by
        the
        indemnifying party and shall furnish to the indemnifying party all information
        reasonably available to the Indemnified Party or Indemnified Person which
        relates to such action or Claim. The indemnifying party shall keep the
        Indemnified Party or Indemnified Person fully apprised at all times as to
        the
        status of the defense or any settlement negotiations with respect thereto.
        No
        indemnifying party shall be liable for any settlement of any action, claim
        or
        proceeding effected without its prior written consent, provided, however,
        that
        the indemnifying party shall not unreasonably withhold, delay or condition
        its
        consent. No indemnifying party shall, without the prior written consent of
        the
        Indemnified Party or Indemnified Person, consent to entry of any judgment
        or
        enter into any settlement or other compromise which does not include as an
        unconditional term thereof the giving by the claimant or plaintiff to such
        Indemnified Party or Indemnified Person of a release from all liability in
        respect to such Claim or litigation. Following indemnification as provided
        for
        hereunder, the indemnifying party shall be subrogated to all rights of the
        Indemnified Party or Indemnified Person with respect to all third parties,
        firms
        or corporations relating to the matter for which indemnification has been
        made.
        The failure to deliver written notice to the indemnifying party within a
        reasonable time of the commencement of any such action shall not relieve
        such
        indemnifying party of any liability to the Indemnified Person or Indemnified
        Party under this Section 6, except to the extent that the indemnifying party
        is
        prejudiced in its ability to defend such action.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
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          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">d.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        indemnification required by this Section 6 shall be made by periodic payments
        of
        the amount thereof during the course of the investigation or defense, as
        and
        when Indemnified Damages are incurred and applicable bills are
        received.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">e.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        indemnity agreements contained herein shall be in addition to (i) any cause
        of
        action or similar right of the Indemnified Party or Indemnified Person against
        the indemnifying party or others, and (ii) any liabilities the indemnifying
        party may be subject to pursuant to the law.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">f.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Nothing
        herein shall the right of any party to this Agreement to bring a contractual
        claim against any other party to this Agreement for a breach of this
        Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Contribution.</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
        the
        extent any indemnification by an indemnifying party is prohibited or limited
        by
        law, the indemnifying party agrees to make the maximum contribution with
        respect
        to any amounts for which it would otherwise be liable under Section 6 to
        the
        fullest extent permitted by law; provided, however, that: (i) no person involved
        in the sale of Registrable Securities which person is guilty of fraudulent
        misrepresentation (within the meaning of Section 11(f) of the 1933 Act) in
        connection with such sale shall be entitled to contribution from any person
        involved in such sale of Registrable Securities who was not guilty of fraudulent
        misrepresentation; and (ii) contribution by any seller of Registrable Securities
        shall be limited in amount to the net amount of proceeds received by such
        seller
        from the sale of such Registrable Securities pursuant to such Registration
        Statement.</font></div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Reports
        Under The 1934 Act. </u></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Until
        the
        date on which (A) the Investors shall have sold all the Conversion Shares
        and
        the Warrant Shares and (B) none of the Notes or Warrants is outstanding,
        with a
        view to making available to the Investors the benefits of Rule 144 promulgated
        under the 1933 Act or any other similar rule or regulation of the SEC that
        may
        at any time permit the Investors to sell securities of the Company to the
        public
        without registration ("</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Rule
        144</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"),
        the
        Company agrees to:</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">make
        and
        keep public information available, as those terms are understood and defined
        in
        Rule 144;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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        with
        the SEC in a timely manner all reports and other documents required of the
        Company under the 1933 Act and the 1934 Act so long as the Company remains
        subject to such requirements (it being understood that nothing herein shall
        limit the Company's obligations under Section 4(c) of the Securities Purchase
        Agreement) and the filing of such reports and other documents is required
        for
        the applicable provisions of Rule 144; and</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">furnish
        to each Investor so long as such Investor owns Registrable Securities, promptly
        upon request, (i) a written statement by the Company, if true, that it has
        complied with the reporting requirements of Rule 144, the 1933 Act and the
        1934
        Act, (ii) a copy of the most recent annual or quarterly report of the Company
        and such other reports and documents so filed by the Company, to the extent
        not
        available on EDGAR, and (iii) such other information as may be reasonably
        requested to permit the Investors to sell such securities pursuant to Rule
        144
        without registration.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Assignment
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        rights under this Agreement shall be automatically assignable by the Investors
        to any transferee of Registrable Securities if: (i) the Investor agrees in
        writing with the transferee or assignee to assign such rights, and a copy
        of
        such agreement is furnished to the Company within three (3) Business Days
        after
        such assignment; (ii) the Company is, within three (3) Business Days after
        such
        transfer or assignment, furnished with written notice of (a) the name and
        address of such transferee or assignee, and (b) the securities with respect
        to
        which such registration rights are being transferred or assigned; (iii)
        immediately following such transfer or assignment the further disposition
        of
        such securities by the transferee or assignee is restricted under the 1933
        Act
        and applicable state securities laws; (iv) at or before the time the Company
        receives the written notice contemplated by clause (ii) of this sentence
        the
        transferee or assignee agrees in writing with the Company to be bound by
        all of
        the provisions contained herein; and (v) such transfer shall have been made
        in
        accordance with the applicable requirements of the Securities Purchase
        Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Amendment
        of Registration Rights.</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Provisions
        of this Agreement may be amended and the observance thereof may be waived
        (either generally or in a particular instance and either retroactively or
        prospectively), only with the written consent of the Company and the Required
        Holders. Any amendment or waiver effected in accordance with this Section
        10
        shall be binding upon each Investor and the Company. No such amendment shall
        be
        effective to the extent that it applies to less than all of the holders of
        the
        Registrable Securities. No consideration shall be offered or paid to any
        Person
        to amend or consent to a waiver or modification of any provision of any of
        this
        Agreement unless the same consideration also is offered to all of the parties
        to
        this Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">11.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Miscellaneous.</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
        Person
        is deemed to be a holder of Registrable Securities whenever such Person owns
        or
        is deemed to own of record such Registrable Securities. If the Company receives
        conflicting instructions, notices or elections from two or more Persons with
        respect to the same Registrable Securities, the Company shall act upon the
        basis
        of instructions, notice or election received from the such record owner of
        such
        Registrable Securities.</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any
        notices, consents, waivers or other communications required or permitted
        to be
        given under the terms of this Agreement must be in writing and will be deemed
        to
        have been delivered: (i) upon receipt, when delivered personally; (ii) upon
        receipt, when sent by facsimile (provided confirmation of transmission is
        mechanically or electronically generated and kept on file by the sending
        party);
        or (iii) one Business Day after deposit with a nationally recognized overnight
        delivery service, in each case properly addressed to the party to receive
        the
        same. The addresses and facsimile numbers for such communications shall
        be:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
        to the
        Company:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">pSivida
        Limited.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Level
        12,
        BGC Centre </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">28
        The
        Esplanade, Perth</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WA
        6000
        Australia</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Telephone:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">61
        8 9226
        5099</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Facsimile:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">61
        8 9226
        5499</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attention:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Gavin
        Rezos, Managing Director</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">With
        a
        copy (which shall not constitute notice) to:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 72pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Curtis,
        Mallet-Prevost, Colt &amp; Mosle LLP</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 72pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">101
        Park
        Avenue</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 72pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">New
        York,
        N.Y. 10178</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 72pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.A.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 72pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Telephone:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">212-696-6000</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 72pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Facsimile:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">212-697-1559</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attention:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Lawrence
        Goodman, Esq.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        Peter Stewart, Esq.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
        to
        Legal Counsel:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Schulte
        Roth &amp; Zabel LLP</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">919
        Third
        Avenue</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">New
        York,
        New York 10022</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Telephone:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(212)
        756-2000</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Facsimile:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(212)
        593-5955</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attention:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Eleazer
        Klein, Esq.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
        to a
        Buyer, to its address and facsimile number set forth on the Schedule of Buyers
        attached hereto, with copies to such Buyer's representatives as set forth
        on the
        Schedule of Buyers, or to such other address and/or facsimile number and/or
        to
        the attention of such other person as the recipient party has specified by
        written notice given to each other party five (5) days prior to the
        effectiveness of such change. Written confirmation of receipt (A) given by
        the
        recipient of such notice, consent, waiver or other communication, (B)
        mechanically or electronically generated by the sender's facsimile machine
        containing the time, date, recipient facsimile number and an image of the
        first
        page of such transmission or (C) provided by a courier or overnight courier
        service shall be rebuttable evidence of personal service, receipt by facsimile
        or receipt from a nationally recognized overnight delivery service in accordance
        with clause (i), (ii) or (iii) above, respectively.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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          </div>
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      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 1.25"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company hereby irrevocably appoints National Corporate Research Ltd., 225
        West
        34</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>th</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        Street,
        Suite 910, New York, N.Y. 10112 ("NCR") as its agent for the receipt of service
        of process in the United States. The Company agrees that any document may
        be
        effectively served on it in connection with any action, suit or proceeding
        in
        the United States by service on its agents. The Buyers consent and agree
        that
        the Company may, in its reasonable discretion, irrevocably appoint a substitute
        agent for the receipt of service of process located within the Untied States,
        and that upon such appointment, the appointment of NCR may be
        revoked.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 90pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(1)</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;
        Any document shall be deemed to have been duly served if marked for the
        attention of the agent at its address (as set forth in Section 9(f) of the
        Securities Purchase Agreement) or such other address in the United States
        as may
        be notified to the party wishing to serve the document and (a) left at the
        specified address if its receipt is acknowledged in writing; or (b) sent
        to the
        specified address by post, registered mail return receipt requested. In the
        case
        of (a), the document will be deemed to have been duly served when it is left
        and
        signed for. In the case of (b), the document shall be deemed to have been
        duly
        served when received and acknowledged.</font></div>
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        replacement agent. Failing such appointment and notification, the Buyer shall
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        Company's behalf. The provisions of this Section 11(c) applying to service
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        of any party to exercise any right or remedy under this Agreement or otherwise,
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        cause the application of the laws of any jurisdictions other than the State
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        irrevocably waives personal service of process and consents to process being
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        Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity
        or unenforceability shall not affect the validity or enforceability of the
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        restrictions, promises, warranties or undertakings, other than those set
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        hereto by facsimile transmission of a copy of this Agreement bearing the
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        acts and things, and shall execute and deliver all such other agreements,
        certificates, instruments and documents, as the other party may reasonably
        request in order to carry out the intent and accomplish the purposes of this
        Agreement and the consummation of the transactions contemplated
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        consents and other determinations required to be made by the Investors pursuant
        to this Agreement shall be made, unless otherwise specified in this Agreement,
        by the Required Holders, determined as if all of the Notes held by Investors
        then outstanding have been converted into Registrable Securities and all
        Warrants then outstanding have been exercised for Registrable Securities
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        regard to any limitations on conversion of the Notes or on exercises of the
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        language used in this Agreement will be deemed to be the language chosen
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        contained herein, and no action taken by any Buyer pursuant hereto, shall
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<DOCUMENT>
<TYPE>EX-99.5
<SEQUENCE>6
<FILENAME>v029459_ex99-5.htm
<TEXT>
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        99.5</strong></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Letter
        Agreement, dated November 15, 2005, relating to the Securities Purchase
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      The
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      Investment in pSivida Limited (the &#8220;Company&#8221;) </font></div>
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      Schedule of Buyers attached thereto. Capitalized terms used herein and not
      otherwise defined shall have the meanings ascribed to such terms in the
      Securities Purchase Agreement.</font></div>
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      are hereby amended and restated to read as follows: &#8220;(x) engage in any
      Prohibited Transaction prior to the seventh month anniversary of the Issuance
      Date&#8221;.</font></div>
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      amended and restated to read as follows: &#8220;On or before 8:30 a.m. New York time,
      on November&#160;15, 2005, the Company shall file a Current Report on Form
      6-K
      describing the terms of the transactions contemplated by the Transaction
      Documents and attaching the material Transaction Documents (including, without
      limitation, this Agreement (other than the schedules to this Agreement), the
      form of Notes, the form of Warrant and the form of Registration Rights
      Agreement) as exhibits to such sub mission (such submission including all
      attachments, the &#8220;6-K Filing&#8221;).&#8221;</font></div>
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      date hereof in connection with seeking Shareholder Approval in accordance with
      Section 4(p) of the Securities Purchase Agreement , shall be furnished to Buyer
      at least two Business Days prior to dissemination or filing, as applicable,
      for
      Buyer&#8217;s review and in order to allow Buyer&#8217;s reasonable comments to be
      incorporated in any such instrument (such review and comments to be provided
      by
      the Buyer promptly and in a timely manner so as not to delay or otherwise
      adversely affect the calling or holding of any such Shareholder
      Meeting).</font></div>
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      Form&#160;20-F for the fiscal year ended June&#160;30, 2005 the following:
      (a) a
      statement that the Company has received the Shareholder Approval pursuant to
      the
      rules and regulations of the ASX and (b) (i) a statement disclosing that the
      Company may not have followed Rule 4350(i)(1) of the Nasdaq Marketplace Rules
      and (ii) a statement pursuant to Rule 4350(a) of the Nasdaq Marketplace Rules
      describing the home country practice followed by the Company in lieu of the
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            <td width="50%"><font size="2">Very truly ours,</font></td>
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            <td width="50%"><font size="2">CASTLERIGG MASTER INVESTMENTS
              LTD.</font></td>
          </tr>

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            <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
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            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
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            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/&#160;Jim
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              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Name:
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              <div><font size="2">Title: President</font></div>
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    <div><font size="2">Agree and Acknowledged</font></div>
    <div>&#160;</div>
    <div><font size="2">PSIVIDA LIMITED</font></div>
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            <td width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
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            <td width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;&#160;&#160;&#160;&#160;&#160;/s/&#160;Gavin
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