0001178858-07-000005 Sample Contracts

REGISTRATION RIGHTS AGREEMENT
Registration Rights Agreement • March 22nd, 2007 • Schmidt Marvin L • Retail-drug stores and proprietary stores • Indiana

THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of March 9, 2007, by and between Standard Management Corporation, an Indiana corporation (the “Company”) and each of the Investors listed on Schedule A attached hereto.

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WRITTEN AGREEMENT RELATING TO THE FILING OF JOINT 13D STATEMENT -- SEC RULE 13d-1(k)
Written Agreement • March 22nd, 2007 • Schmidt Marvin L • Retail-drug stores and proprietary stores

Pursuant to Rule 13d-1(k) of the Securities and Exchange Commission, each of the undersigned hereby agrees to the joint filing of a Schedule 13D statement under the Securities Exchange Act of 1934 and any amendments thereto relating to acquisitions of the common stock of Standard Management Corporation, and such Schedule 13D statement and amendments thereto when signed and filed by the undersigned shall be deemed filed on behalf of each of them.

OPTION AGREEMENT
Option Agreement • March 22nd, 2007 • Schmidt Marvin L • Retail-drug stores and proprietary stores • Indiana

THIS AGREEMENT, dated and effective as of the 9th day of March 2007, by and among The Schmidt Family Trust dated 9/29/82, by Marvin L. and Judean A. Schmidt, as Trustees (collectively, “Grantors” and individually, “Grantor”), and Sam Schmidt (“Grantee”).

OPTION AGREEMENT
Option Agreement • March 22nd, 2007 • Schmidt Marvin L • Retail-drug stores and proprietary stores • Indiana

THIS AGREEMENT, dated and effective as of the 9th day of March 2007, by and among The Schmidt Family Trust dated September 29, 1982, Marvin L. and Judean A. Schmidt, as Trustees (collectively, “Grantors” and individually, “Grantor”), Ronald D. Hunter (“Hunter”), 10689 N. Pennsylvania St., Indianapolis, IN 46280, Mark B.L. Long (“Long”), 10689 N. Pennsylvania St., Indianapolis, IN 46280 and Martial R. Knieser, M.D. (“Knieser”) 10689 N. Pennsylvania St., Indianapolis, IN 46280,

VOTING AGREEMENT
Voting Agreement • March 22nd, 2007 • Schmidt Marvin L • Retail-drug stores and proprietary stores • Indiana

THIS VOTING AGREEMENT (this “Agreement”), dated and effective as of March 9, 2007, and entered into by and between Sam Schmidt, a resident of the State of Nevada (“Schmidt”), Sheila J. Schmidt, a resident of the State of Nevada, as custodian for the minor children of Sam Schmidt and Sheila J. Schmidt (“Custodian”), The Schmidt Family Trust dated September 29, 1982, Marvin L. and Judean A. Schmidt as Trustees (the “Schmidt Trust” and, together with Schmidt and Custodian, the “Schmidt Shareholders”), and Standard Management Corporation, an Indiana corporation (“SMAN”),

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