Title: Understanding the California Registration Rights Agreement between Turn stone Systems, Inc. and Purchaser Keywords: California Registration Rights Agreement, Turn stone Systems, Inc., purchaser, types, detailed description Introduction: The California Registration Rights Agreement is an essential legal document that outlines the rights and obligations between Turn stone Systems, Inc. (hereinafter referred to as "Turn stone") and the purchaser (also referred to as the "Investor"). This agreement typically offers investors the opportunity to register their securities with the Securities and Exchange Commission (SEC) and participate in the public offering or resale of their shares. Types of California Registration Rights Agreements: There can be various types of California Registration Rights Agreements between Turn stone Systems, Inc. and purchasers, based on specific needs and circumstances. Some common types include: 1. Demand Registration Rights: Demand registration rights allow investors to request Turn stone to register their securities and initiate an offering within a specific time frame. The purchaser can sell these registered securities in a public offering or private placement, subject to market conditions. 2. Piggyback Registration Rights: Piggyback registration rights entitle the purchaser to "piggyback" on a Turn stone's registration statement filed for another purpose. If Turn stone decides to register its securities for its own offering, the purchaser can include their securities in the registration statement, providing an opportunity to sell their shares alongside Turn stone. 3. Form S-3 Eligibility and Shelf Registration Rights: Form S-3 eligibility grants the purchaser the right to demand registration on Form S-3, which is a simplified registration form for well-established issuers. It enables Turn stone to register securities more efficiently, providing greater flexibility to the purchaser in offering their securities. 4. Delayed Registration Rights: Delayed registration rights allow Turn stone to postpone filing a registration statement for a certain period without forfeiting the purchaser's ability to register their securities. This provision can provide Turn stone with time to address any pending legal or financial matters without weighing on the purchaser's registration rights. 5. Market Standoff Provisions: Market Standoff provisions commonly prevent the purchaser from selling their registered securities for a specified duration after an initial public offering (IPO) or another relevant transaction. This restriction aims to stabilize stock prices and protect Turn stone's interests, ensuring a more orderly market. Conclusion: In summary, the California Registration Rights Agreement between Turn stone Systems, Inc. and the purchaser encompasses various types of agreements, granting the purchaser the right to register and sell their securities. These agreements promote transparency, flexibility, and fair treatment to investors, ensuring they have the opportunity to participate in public offerings or resales of their shares based on their specific rights and obligations under the agreement.