The King Washington Registration Rights Agreement is a legal agreement between Visible Genetics, Inc. and the purchasers of common shares of the company. This agreement outlines the rights and obligations of both parties regarding the registration of securities with the U.S. Securities and Exchange Commission (SEC) and other regulatory bodies. Under this agreement, Visible Genetics provides certain registration rights to the purchasers of common shares. These rights allow the shareholders to request the registration of their shares with the SEC, enabling them to sell, transfer, or otherwise dispose of their securities on the public market. Registration rights are crucial for shareholders as they provide liquidity for their investment. There are several types of King Washington Registration Rights Agreements that may be applicable between Visible Genetics, Inc. and its shareholders. These variations may include: 1. Demand Registration Rights: This type of agreement grants the shareholders the right to request Visible Genetics to register their shares with the SEC. The request can be made at any time and for any reason deemed appropriate by the shareholders. Visible Genetics is obligated to fulfill this registration request within a specified timeframe. 2. Piggyback Registration Rights: In this scenario, if Visible Genetics decides to register any of its securities for sale to the public, the shareholders holding common shares can "piggyback" onto the registration. This allows them to include their shares in the registration process, benefiting from the company's registration efforts without bearing the costs and administrative burden themselves. 3. Shelf Registration Rights: This type allows shareholders to have their shares registered on a "shelf" basis, also known as a delayed offering. Under this agreement, the shareholders can request registration for their securities at any time within a specified period, eliminating the need for repeated filings each time they decide to sell or transfer their shares. The purpose of these registration rights agreements is to protect the interests of both Visible Genetics and its shareholders. By providing shareholders with the opportunity to register their securities, the company ensures transparency and fairness in the trading of its common shares. In return, shareholders gain the ability to sell their shares more easily, enhancing the liquidity and value of their investments. Overall, the King Washington Registration Rights Agreement plays a crucial role in governing the relationship between Visible Genetics, Inc. and its shareholders, granting them the necessary rights and flexibility to maximize the value of their investments in the company's common shares.