0000950144-05-003073 Sample Contracts

REGISTRATION RIGHTS AGREEMENT
Registration Rights Agreement • March 25th, 2005 • Standard Management Corp • Life insurance • New York

This Agreement is made pursuant to the Securities Purchase Agreement, dated as of the date hereof, by and between the Purchaser and the Company (as amended, modified or supplemented from time to time, the “Securities Purchase Agreement”), and pursuant to the Note and the Warrants referred to therein.

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SECURITIES PURCHASE AGREEMENT LAURUS MASTER FUND, LTD. and STANDARD MANAGEMENT CORPORATION Dated: March 21, 2005
Securities Purchase Agreement • March 25th, 2005 • Standard Management Corp • Life insurance • New York

THIS SECURITIES PURCHASE AGREEMENT (this “Agreement”) is made and entered into as of March 21, 2005, by and between STANDARD MANAGEMENT CORPORATION, an Indiana corporation (the “Company”), and LAURUS MASTER FUND, LTD., a Cayman Islands company (the “Purchaser”).

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