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EXHIBIT 10.4

AMENDED AND RESTATED GRANT OF SECURITY INTEREST
IN PATENTS AND TRADEMARKS

THIS AMENDED AND RESTATED GRANT OF SECURITY INTEREST (“Grant”), effected as of
May 18, 2005, is executed by Sequiam Corporation, a California corporation
(“Sequiam”), in favor of Lee Harrison Corbin, Attorney in-Fact for the Trust
Under the Will of John Svenningsen (the “Secured Party”).
 
A.    This Grant is being entered into in connection with the Secured Party’s
(defined above) agreement to advance an amount to Laurus Master Fund Ltd
(“Laurus”), sufficient to repay the remaining debt to Laurus in accordance with
the terms of the Assignment, Assumption and Release with Laurus, and in
connection therewith, Laurus has agreed to assign to the Secured Party all of
Laurus’ rights under that certain Securities Purchase Agreement, dated April 27,
2004, by and between the Sequiam and Laurus, as amended and the Loan Documents,
a defined in the Securities Purchase Agreement, of even date herewith, between
Sequiam and the Secured Party, which includes that certain Grant of Security
Interest in Patents and Trademarks, dated as of April 27, 2004, between Laurus
and Sequiam (the “Original Agreement”), such that the Trust shall stand in the
place of Laurus thereunder. In connection therewith, the Secured Party and
Sequiam now wish to amend and restate the Original Agreement as provided herein.

B.    Pursuant to that certain Amended and Restated Master Security Agreement
dated as of the date hereof (as amended, restated, supplemented or otherwise
modified from time to time, the “Security Agreement”) among Sequiam, certain
other Assignors (as defined in the Security Agreement), and the Secured Party,
the terms and provisions of which are hereby incorporated herein as if fully set
forth herein, Sequiam and the other Assignors have granted a security interest
to the Secured Party in consideration of the Secured Party’s agreement to
provide loans to Sequiam Corporation.

C.    Sequiam (1) has adopted, used and is using the trademarks reflected in the
trademark registrations and trademark applications in the United States Patent
and Trademark Office more particularly described on Schedule 1 annexed hereto as
part hereof (the “Trademarks”), and (2) has registered or applied for
registration in the United States Patent and Trademark Office of the patents
more particularly described on Schedule 2 annexed hereto as part hereof (the
“Patents”).

D.    Sequiam wishes to confirm its grant to the Secured Party of a security
interest in all right, title and interest of Sequiam in and to the Trademarks
and Patents, and all proceeds thereof, together with the business as well as the
goodwill of the business symbolized by, or related or pertaining to, the
Trademarks, and the customer lists and records related to the Trademarks and
Patents and all causes of action which may exist by reason of infringement of
any of the Trademarks and Patents (collectively, the “T&P Collateral”), to
secure the payment, performance and observance of the Obligations (as that term
is defined in the Security Agreement).

NOW, THEREFORE, for good and valuable consideration, receipt of which is hereby
acknowledged:

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1.    Sequiam does hereby further grant to the Secured Party a security interest
in the T&P Collateral to secure the full and prompt payment, performance and
observance of the Obligations.

2.    Sequiam agrees to perform, so long as the Security Agreement is in effect,
all acts deemed necessary or desirable by the Secured Party to permit and assist
it, at Sequiam’ expense, in obtaining and enforcing the Trademarks and Patents
in any and all countries. Such acts may include, but are not limited to,
execution of documents and assistance or cooperation in legal proceedings.
Sequiam hereby appoints the Secured Party as Sequiam’ attorney-in-fact to
execute and file any and all agreements, instruments, documents and papers as
the Secured Party may determine to be necessary or desirable to evidence the
Secured Party’s security interest in the Trademarks and Patents or any other
element of the T&P Collateral, all acts of such attorney-in-fact being hereby
ratified and confirmed.

3.    Sequiam acknowledges and affirms that the rights and remedies of the
Secured Party with respect to the security interest in the T&P Collateral
granted hereby are more fully set forth in the Security Agreement and the rights
and remedies set forth herein are without prejudice to, and are in addition to,
those set forth in the Security Agreement. In the event that any provisions of
this Grant are deemed to conflict with the Security Agreement, the provisions of
the Security Agreement shall govern.

4.    Sequiam agrees to execute financing statements or other instruments to the
extent required by the Uniform Commercial Code and in executing such other
documents or instruments as may be required or deemed necessary by you for
purposes of affecting or continuing your security interest in the T&P
Collateral.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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IN WITNESS WHEREOF, Sequiam has caused this instrument to be executed as of the
day and year first above written.

 
SEQUIAM CORPORATION
             
By:
/s/ Nicholas VandenBrekel
 
Name:
Nicholas VandenBrekel
 
Title:
CEO

 
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SCHEDULE 1

REGISTERED TRADEMARKS AND TRADEMARK APPLICATIONS
 
Trademark
Registration or Application Number
Registration or Application Date
Country
Sequiam
78375254
01/26/04
USA
                       

 

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SCHEDULE 2

PATENTS AND PATENT APPLICATIONS

Patent
Registration or Application Number
Registration or Application Date
Country
None.
             

 

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STATE OF FLORIDA
)
 
) ss.:
COUNTY OF ORANGE
)

 
On this 18th day of May 2005, before me personally came Nicholas Vandenbrekel
who, being by me duly sworn, did state as follows: that he is CEO of Sequiam
Corporation that he is authorized to execute the foregoing Grant on behalf of
said corporation and that he did so by authority of the Board of Directors of
said corporation.

 
/s/ Marion N. Baker
 
Notary Public

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