Document:

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                                                                     Exhibit 4.4

         THE SALE AND ISSUANCE OF THE SECURITIES REPRESENTED BY THIS INSTRUMENT
         HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
         (THE "ACT"), OR UNDER THE SECURITIES LAW OF ANY STATE OR OTHER
         JURISDICTION. THESE SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND
         NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE DISTRIBUTION THEREOF.
         THESE SECURITIES MAY NOT BE OFFERED, SOLD, PLEDGED, OR TRANSFERRED
         UNLESS (I) A REGISTRATION STATEMENT UNDER THE ACT IS IN EFFECT AS TO
         THESE SECURITIES AND SUCH OFFER, SALE, PLEDGE, OR TRANSFER IS IN
         COMPLIANCE WITH APPLICABLE SECURITIES LAW OF ANY STATE OR OTHER
         JURISDICTION OR (II) THERE IS AN OPINION OF COUNSEL OR OTHER EVIDENCE,
         SATISFACTORY TO THE COMPANY, THAT AN EXEMPTION THEREFROM IS AVAILABLE
         AND THAT SUCH OFFER, SALE, PLEDGE, OR TRANSFER IS IN COMPLIANCE WITH
         APPLICABLE SECURITIES LAW OF ANY STATE OR OTHER JURISDICTION.

                        SUBORDINATED TERM PROMISSORY NOTE

$500,000.00                                                      August 15, 2000

         FOR VALUE RECEIVED, the undersigned E-Sync Networks, Inc., a Delaware
corporation (the "Maker"), having an address at 35 Nutmeg Drive, Trumbull,
Connecticut 06611, hereby unconditionally promises to pay to the order of John
C. Maxwell, III, an individual ("Payee"), at the office of Payee located at c/o
Commercial Electronics, L.L.C., 375 Park Avenue, Suite 1604, New York, New York
10152, or such other location as the holder hereof may designate, in lawful
money of the United States, the principal sum of FIVE HUNDRED THOUSAND DOLLARS
AND NO CENTS ($500,000.00), together with interest thereon as provided for
below.

1. INTEREST RATE. Maker shall pay interest, in arrears, on the unpaid principal
balance hereof outstanding from time to time at a rate equal to twelve percent
(12%) per annum. Interest shall commence to accrue on the date hereof and shall
continue to accrue until the principal hereof is paid in full (whether before or
after maturity or judgment).

         Anything contained in this Note to the contrary notwithstanding, Payee
does not intend to charge and Maker shall not be required to pay interest or
other charges in excess of the maximum rate permitted by applicable law. Any
payments in excess of such maximum rate shall be refunded to Maker or credited
against principal.

2. PAYMENT OF INTEREST AND PRINCIPAL. Interest only on the outstanding principal
amount hereof shall be due and payable monthly in arrears, commencing on
September 15, 2000 and continuing on the fifteenth (15th) day of each month
thereafter preceding the payment in full of the principal amount hereof.
<PAGE>   2
The entire unpaid principal amount hereof, together with all accrued and unpaid
interest thereon shall be due and payable on August 15, 2001. All payments shall
first be applied to interest and then to principal.

3. PREPAYMENT.

         (a) Payee shall have the right, but not the obligation, to demand
prepayment hereof out of all (or any portion) of the net proceeds of any sales
of debt and/or equity securities by Maker while amounts are due hereunder, but
only to the extent that the aggregate net proceeds from such sales of securities
after the date hereof exceeds three million dollars ($3,000,000.00). Maker shall
give prompt (but in any event within three (3) business days) written notice to
Payee of any such sales of securities (including a statement as to the amount of
net proceeds) in order to allow Payee to determine whether, based on the
aggregate amount of such sales to date, its right to demand prepayment has
become available, and, to the extent so, in order to allow Payee to exercise its
right to require a mandatory prepayment hereunder. All mandatory prepayments due
by virtue of this Section 3 shall be made by Maker within three (3) business
days of its receipt of notice from Payee as to the amount of the prepayment that
Payee is requiring.

         (b) Maker may prepay this Note as a whole at any time or in part from
time to time at the principal amount hereof plus accrued interest thereon, but
without premium or penalty.

4. EXPENSES. Maker shall pay Payee, on demand, for all reasonable costs and
expenses (including, but not limited to, reasonable attorneys' fees), if any,
which may be incurred by Payee in connection with the collection of this Note.

5. REPRESENTATIONS AND WARRANTIES. Maker hereby represents and warrants to Payee
that:

         (a) Maker has all requisite legal and corporate power and authority to
sell and issue this Note and to carry out and perform its obligations hereunder.

         (b) All corporate action on the part of Maker necessary for the sale,
issuance and delivery of this Note and the performance of all of Maker's
obligations hereunder have been taken. This Note, when executed and delivered by
Maker, will constitute a valid and legally binding obligation of Maker,
enforceable against Maker in accordance with its terms. This Note is free of any
liens, claims, encumbrances or restrictions on transfer. This Note is not
subject to any preemptive rights or rights of first refusal not previously
waived.

         (c) The execution, delivery, performance and issuance of this Note have
not and will not: (i) violate, conflict with or result in a breach of any
provision of or constitute a default (or an event which, with notice or lapse of
time or both, would constitute a default) under, or result in the termination
of, or accelerate the performance required by, or result in a creation of any
lien upon any of the assets, properties or business of Maker under, any of the
terms, conditions or provisions of (x) the Certificate of Incorporation or
By-laws of Maker, or (y) any contract, commitment, lease, agreement or proposed
transaction, written or oral, absolute or contingent, material to the assets,
properties or business of Maker; or (ii) violate any judgment, ruling, order,
writ, injunction, award, decree, or law of any court or federal, state, county
or local government or any other governmental, regulatory or administrative
agency or authority which is applicable to Maker or any of its assets,
properties or businesses; or (iii) to Maker's knowledge, result in the
suspension, revocation, impairment, forfeiture, or non-renewal of any franchise,
permit, license, authorization, or approval material to Maker.
<PAGE>   3
         (d) The offer, sale, and issuance of this Note constitute transactions
exempt from the registration requirements of Section 5 of the Securities Act of
1933, as amended.

6. DEFAULT; ACCELERATION. The occurrence of any of the following shall
constitute an "Event of Default":

         (a)      Maker shall fail to make any payment of any principal,
                  interest or other amount when due under this Note.

         (b)      Maker shall be dissolved or shall make an assignment for the
                  benefit of creditors; or shall have a receiver, custodian,
                  trustee or conservator appointed for all or substantially all
                  its assets.

         (c)      Any case or proceeding under any bankruptcy, insolvency,
                  receivership or similar law affecting Maker shall be commenced
                  (provided that if such case or proceeding is not commenced by
                  Maker, same remains undismissed for a period of sixty (60)
                  days).

         (d)      Any representation or warranty of Maker contained herein or in
                  any related document shall prove to be untrue or misleading in
                  any material respect.

Upon the occurrence, and at any time during the continuance, of an Event of
Default, Payee, at Payee's option and without the need for presentment, demand,
protest, or other notice of any kind, may declare all unpaid principal hereof
and interest hereunder to be immediately due and payable and same shall become
immediately due and payable upon such declaration.

7. CERTAIN WAIVERS. Maker and any endorser or guarantor hereof (collectively,
the "Obligors") and each of them: (i) waive(s) presentment, diligence, protest,
demand, notice of demand, notice of acceptance or reliance, notice of
non-payment, notice of dishonor, notice of protest and all other notices to
parties in connection with the delivery, acceptance, performance, default or
enforcement of this Note, any endorsement or guaranty of this Note, or any
collateral or other security; (ii) consent(s) to any and all delays, extensions,
renewals or other modifications with respect to this Note, any related document
or the debt(s) or collateral evidenced hereby or thereby or any waivers of any
term hereof or thereof, any release, surrender, taking of additional,
substitution, exchange, failure to perfect, record, preserve, realize upon, or
lawfully dispose of, or any other impairment of, any collateral or other
security, or any other failure to act by Payee or any other forbearance or
indulgence shown by Payee, from time to time and in one or more instances
(without notice to or assent from any of the Obligors) and agree(s) that none of
the foregoing shall release, discharge or otherwise impair any of their
liabilities; (iii) agree(s) that the full or partial release or discharge of any
Obligor(s) shall not release, discharge or otherwise impair the liabilities of
any other Obligor(s); and (iv) otherwise waive(s) any other defenses based on
suretyship or impairment of collateral.

8. SUBORDINATION. Notwithstanding anything to the contrary herein, Payee and
each holder from time to time of this Note by its acceptance hereof agrees that
all payments on this Note shall be subordinate and subject in right of payment
to the prior payment in full of all Senior Debt (as defined below), and further
agrees that it shall enter into such agreements with Maker and the holders of
any such Senior Debt to acknowledge and evidence the terms of such subordination
as Maker shall from time to time reasonably request, provided, however, that the
provisions of this Section 8 and the terms of any such agreements do not prevent
or limit the exercise by Payee of its right to demand prepayment of this
<PAGE>   4
Note pursuant to Section 3(a) hereof. For purposes of this Note, "Senior Debt"
means (a) all obligations of Maker in respect of any indebtedness of Maker to
banks, financial institutions or institutional lenders or investors, including,
without limitation, obligations in respect of principal, premium, interest,
reimbursement obligations and fees and expenses, and (b) any and all renewals,
extensions, increases or rearrangements of any of the foregoing, in each case,
whether existing on the date of this Note or hereafter created, incurred or
acquired. Without limiting or expanding the foregoing provisions of this
definition, this Note is not intended to be either superior or subordinate in
right of payment to any obligation of Maker, whether existing on the date of
this Note or hereafter created, other than Senior Debt.

9. COMMERCIAL TRANSACTION; JURY WAIVER. EACH OF PAYEE AND MAKER ACKNOWLEDGES
THAT THE TRANSACTION OF WHICH THIS NOTE IS A PART IS A COMMERCIAL TRANSACTION.
EACH OF PAYEE AND MAKER HEREBY KNOWINGLY AND VOLUNTARILY WAIVES TRIAL BY JURY
AND THE RIGHT THERETO IN ANY ACTION OR PROCEEDING OF ANY KIND, ARISING UNDER OR
OUT OF, OR OTHERWISE RELATED TO OR OTHERWISE CONNECTED WITH, THIS NOTE AND/OR
ANY RELATED DOCUMENT.

10. BINDING NATURE. This Note shall bind Maker and Maker's heirs,
representatives, successors and assigns and shall inure to the benefit of Payee
and its successors and assigns. The term "Payee" as used herein shall include,
in addition to the initial Payee, any successors, endorsees, or other assignees
of such Payee and shall also include any other holder of this Note.

11. GOVERNING LAW. This Note shall be governed by and construed and interpreted
in accordance with the laws of the State of Connecticut, without regard to its
rules pertaining to conflicts of laws thereunder.

12. MISCELLANEOUS. No delay or omission by Payee in exercising any right or
remedy hereunder or under any guaranty hereof shall operate as a waiver of such
right or remedy or any other right or remedy, and a waiver on one occasion shall
not be a bar to or waiver of any right or remedy on any other occasion. All
rights and remedies of Payee hereunder, any other applicable document and under
applicable law shall be cumulative and not in the alternative. No provision of
this Note or any guaranty hereof may be waived or modified orally but only by a
writing signed by the party against whom enforcement of such amendment, waiver
or other modification is sought.

                  [Remainder of Page Intentionally Left Blank]
<PAGE>   5
         IN WITNESS WHEREOF, Maker has executed and delivered this Note as of
the day and year first written above.

                                            Maker:

                                            E-SYNC NETWORKS, INC.

                                            By:_________________________________
                                            Name:
                                            Title:<PAGE>   1
                                                                     Exhibit 4.5

THE SALE AND ISSUANCE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR
UNDER THE SECURITIES LAW OF ANY STATE OR OTHER JURISDICTION. THESE SECURITIES
HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH,
THE DISTRIBUTION THEREOF. THESE SECURITIES MAY NOT BE OFFERED, SOLD, PLEDGED, OR
TRANSFERRED UNLESS (I) A REGISTRATION STATEMENT UNDER THE ACT IS IN EFFECT AS TO
THESE SECURITIES AND SUCH OFFER, SALE, PLEDGE, OR TRANSFER IS IN COMPLIANCE WITH
APPLICABLE SECURITIES LAW OF ANY STATE OR OTHER JURISDICTION OR (II) THERE IS AN
OPINION OF COUNSEL OR OTHER EVIDENCE, IN EITHER CASE, SATISFACTORY TO THE ISSUER
OF THIS CERTIFICATE, THAT AN EXEMPTION THEREFROM IS AVAILABLE AND THAT SUCH
OFFER, SALE, PLEDGE, OR TRANSFER IS IN COMPLIANCE WITH APPLICABLE SECURITIES LAW
OF ANY STATE OR OTHER JURISDICTION.

WARRANT CERT. NO. 2000-01     WARRANTS TO PURCHASE 15,000 SHARES OF COMMON STOCK

DATE: AUGUST 15, 2000

                              TRANSFERABLE WARRANTS
                           TO PURCHASE COMMON STOCK OF
                              E-SYNC NETWORKS, INC.

         THIS CERTIFIES THAT, for value received, Michael P. Schulhof, with an
address of c/o Commercial Electronics, L.L.C., 375 Park Avenue, Suite 1604, New
York, New York 10152, or registered assignees, is entitled to purchase from
E-Sync Networks, Inc., a corporation organized and existing under the laws of
the State of Delaware (hereinafter called the "Company"), at a purchase price
equal to the "Exercise Price" (as hereinafter defined), at any time from and
after the date hereof to and including the "Final Exercise Date" (as hereinafter
defined), fifteen thousand (15,000) shares of the Company's Common Stock, $.01
par value (the "Warrant Shares"), subject, however, to the provisions and upon
the terms and conditions hereinafter set forth. The Exercise Price shall
initially be Five Dollars and Fifty Cents ($5.50) per share, subject to
adjustment as hereinafter provided.

         Certain capitalized terms used in this Warrant Certificate and not
otherwise defined are defined in paragraph 4 hereof. By accepting this Warrant
Certificate, the holder agrees to be bound by the terms hereof.

         THESE WARRANTS ARE SUBJECT TO THE FOLLOWING TERMS AND CONDITIONS:

         1. (a) Exercise of Warrants. The rights represented by this Warrant
Certificate may be exercised by the registered holder hereof, in whole or in
part (but not as to a fractional share of Common
<PAGE>   2
Stock), by (i) the delivery of this Warrant Certificate, together with a
properly completed Subscription Form, to the principal office of the Company at
35 Nutmeg Drive, Trumbull, Connecticut 06611 (or such other office or agency of
the Company as it may designate by notice in writing to the holder hereof) and
(ii) payment to the Company, in immediately available funds, of the Exercise
Price for the Warrant Shares being purchased. Certificates for the Warrant
Shares so purchased (together with a cash adjustment in lieu of any fraction of
a share) shall be delivered to the holder hereof within a reasonable time, not
exceeding twenty (20) business days, after the rights represented by this
Warrant Certificate shall have been so exercised and paid for, and, unless these
Warrants have expired, a new Warrant Certificate representing the number of
Warrants, if any, with respect to which this Warrant Certificate shall not then
have been exercised, in all other respects identical with this Warrant
Certificate, shall also be issued and delivered to the holder hereof within such
time, or appropriate notation may be made on this Warrant Certificate and the
same returned to such holder.

                  (b) Transfer Restriction Legend. Each certificate for Warrant
Shares issued upon exercise of these Warrants shall bear the legends appearing
on the first page of this Warrant Certificate.

         2. Special Agreements of the Company. The Company covenants and agrees
that:

                  (a) Character of Warrant Shares. All Warrant Shares which may
be issued upon the exercise of the Warrants represented hereby, upon issuance,
will be duly authorized, validly issued, fully paid and non-assessable and free
from all taxes, liens and charges with respect to the issue thereof, and without
limiting the generality of the foregoing, that it will take from to time all
such action as may be requisite to ensure that the par value per share (if any)
of the Common Stock is at all times equal to or less than the then effective
Exercise Price, and that it will refrain from taking any action which could
pursuant to the terms of the Warrants result in the Exercise Price per share
being less than the par value per share of the Common Stock;

                  (b) No Violations. The Company will take all such action as
may be necessary to ensure that Warrant Shares may be so issued without
violation of any applicable United States state or federal law or regulation, or
of any requirements of any securities exchange or inter-dealer quotation system
upon which the Common Stock of the Company may be listed or quoted;

                  (c) Actions in Avoidance. The Company will not, by amendment
of its Certificate or Articles of Incorporation or through any reorganization,
transfer of assets, consolidation, merger, issue or sale of securities or
otherwise, avoid or take any action which would have the effect of avoiding the
observance or performance of any of the terms to be observed or performed
hereunder by the Company, but will at all times in good faith assist in carrying
out all of the provisions of this Warrant Certificate and in taking all of such
action as may be necessary or appropriate in order to protect the rights of the
holders of these Warrants; and

                  (d) Financial Information. The Company will, if requested,
provide each Warrant holder copies of all annual, quarterly and current reports
required to be filed by it pursuant to Section 13 or 15 of the Securities
Exchange Act of 1934, as amended, and in addition, promptly after requested,
such other information concerning the Company as any Warrant holder may
reasonably require (i) in order to comply with any law or governmental
regulation, order of any court, or order, inquiry or investigation of any
governmental agency or instrumentality, or (ii) in order to exercise any right
or privilege of such
<PAGE>   3
Warrant holder or to enforce any obligation of the Company under the Warrants or
any agreement or instrument executed and delivered in connection therewith.

         3. (a) Certain Adjustments. The Exercise Price hereof, but not the
number of shares of Common Stock that may be purchased upon the full exercise of
this Warrant, shall be reduced on each of the following dates to the amount set
forth opposite thereto if, as at the close of business on any such date, the
indebtedness evidenced by that Subordinated Term Promissory Note of even date
herewith (the "Note"), between the Company, as maker, and the initial registered
holder of this Warrant, as payee, remains unpaid, in whole or in part:

<TABLE>
<CAPTION>
                  If the Note Remains Unpaid On:     The Exercise Price Shall Be Decreased To:
                  ------------------------------     -----------------------------------------
<S>                                                  <C>
                  November 15, 2000                  $4.95
                  February 15, 2001                  $4.40
                  April 15, 2000                     $3.85.
</TABLE>

No further adjustments will thereafter be made to the Exercise Price based
solely on the Note remaining unpaid. The Exercise Price hereof and the number of
shares of Common Stock that may be purchased upon the full exercise of this
Warrant shall further be subject to adjustment from time to time as hereinafter
provided. If any such adjustment shall occur before the passage of one or more
of the dates set forth in the foregoing table and while the Note remains unpaid,
the amount set forth in the table to which the Exercise Price may be reduced as
at a subsequent date set forth in the table shall be appropriately adjusted.

                  (b) Stock Dividends, Subdivisions, Split-Ups. If, at any time
prior to the Final Expiration Date, the number of shares of Common Stock
outstanding is increased by a stock dividend payable in shares of Common Stock
or by a subdivision or split-up of shares of Common Stock, then, following the
record date fixed for the determination of holders of Common Stock entitled to
receive such stock dividend, subdivision or split-up, the Exercise Price shall
be appropriately decreased in proportion to such increase in outstanding shares.

                  (c) Stock Combinations. If, at any time prior to the Final
Expiration Date, the number of shares of Common Stock outstanding is decreased
by a combination of the outstanding shares of Common Stock, then, following the
record date for such combination, the Exercise Price shall be appropriately
increased in proportion to such decrease in outstanding shares.

                  (d) Certain Dividends. If, at any time prior to the Final
Expiration Date, the Company shall declare a cash dividend upon its Common Stock
payable otherwise than out of earnings or earned surplus or shall distribute to
holders of its Common Stock shares of its capital stock (other than Common
Stock), stock or other securities of other persons, evidences of indebtedness
issued by the Company or other persons, assets (excluding cash dividends and
distributions) or options or rights (excluding options to purchase and rights to
subscribe for Common Stock or other securities of the Company convertible into
or exchangeable for Common Stock), then, in each such case, immediately
following the record date fixed for the determination of the holders of Common
Stock entitled to receive such dividend or distribution, the Exercise Price in
effect thereafter shall be determined by multiplying the Exercise Price in
effect immediately prior to such record date by a fraction of which the
numerator shall be an amount equal to the difference of (x) the Current Market
Price of one share of Common Stock
<PAGE>   4
minus (y) the fair market value (as determined by the Board of Directors of the
Company, whose determination shall be conclusive) of the stock, securities,
evidences of indebtedness, assets, options or rights so distributed in respect
of one share of Common Stock, and of which the denominator shall be such Current
Market Price.

                  (e) All calculations under this Section 3 shall be made to the
nearest cent or to the nearest share, as the case may be.

                  (f) Whenever the Exercise Price shall be increased or
decreased pursuant to subsections (b), (c) and/or (d) of this Section 3, the
number of shares of Common Stock acquirable upon the full exercise hereof shall
be increased (in the case of a decrease in the Exercise Price) or decreased (in
the case of an increase in the Exercise Price) to that number of shares of
Common Stock obtained by multiplying the number of shares for which this Warrant
was fully exercisable immediately before the event giving rise to the Exercise
Price adjustment by a fraction, the numerator of which is the Exercise Price
immediately prior to such event and the denominator of which is the Exercise
Price immediately upon the consummation of such event. Whenever the Exercise
Price shall be adjusted as provided in Section 3, the Company shall prepare a
statement showing the facts requiring such adjustment and the Exercise Price
that shall be in effect after such adjustment. The Company shall cause a copy of
such statement to be sent by mail, first class postage prepaid, to the holder of
this Warrant at its address appearing on the Company's records. Where
appropriate, such copy may be given in advance and may be included as part of
the notice required to be mailed under the provisions of subsection (b) of this
Section 3.

                  (g) Adjustments made pursuant to clauses (b), (c) and (d)
above shall be made on the date such issuance, dividend, subdivision, split-up,
combination or distribution, as the case may be, is made, and shall become
effective at the opening of business on the business day next following the
record date for the determination of stockholders entitled to such dividend,
subdivision, split-up, combination or distribution.

                  (h) In the event the Company shall propose to take any action
of the types described in clauses (b), (c) or (d) of this Section 3, the Company
shall forward, at the same time and in the same manner, to the Holder of this
Warrant such notice, if any, which the Company shall give to the holders of
capital stock of the Company.

                  (i) In any case in which the provisions of this Section 3
shall require that an adjustment shall become effective immediately after a
record date for an event, the Company may defer until the occurrence of such
event issuing to the holder of all or any part of this Warrant which is
exercised after such record date and before the occurrence of such event the
additional shares of capital stock issuable upon such exercise by reason of the
adjustment required by such event over and above the shares of capital stock
issuable upon such exercise before giving effect to such adjustment exercise;
provided, however, that the Company shall deliver to such holder a due bill or
other appropriate instrument evidencing such holder's right to receive such
additional shares upon the occurrence of the event requiring such adjustment.

         4. Definitions. The terms defined in this paragraph, whenever used in
this Warrant Certificate, shall, unless the context otherwise requires, have the
respective meanings hereinafter specified:
<PAGE>   5
                  (a) "Common Stock" shall mean and include the Company's Common
Stock, $.01 par value, and shall also include in case of any reorganization,
reclassification, consolidation, merger or sale of assets, the stock, securities
or assets provided to holders of the Company's Common Stock in exchange
therefor.

                  (b) "Company" shall mean E-Sync Networks, Inc. and also
include any successor thereto with respect to the obligations hereunder, by
merger, consolidation or otherwise.

                  (c) "Current Market Price" shall mean, at any date and with
respect to one share of Common Stock, the average of the daily closing prices
for the 30 consecutive business days ending no more than five business days
before the day in question (as adjusted for any stock dividend, split,
combination or reclassification that took effect during such 30 business day
period). The closing price for each day shall be the last reported sales price
regular way or, in case no such reported sales took place on such day, the
average of the last reported bid and asked prices regular way, in either case on
the principal national securities exchange on which the Common Stock is listed
or admitted to trading or as reported by Nasdaq (or if the Common Stock is not
at the time listed or admitted for trading on any such exchange or if prices of
the Common Stock are not reported by Nasdaq then such price shall be equal to
the average of the last reported bid and asked prices on such day as reported by
The National Quotation Bureau Incorporated or any similar reputable quotation
and reporting service, if such quotation is not reported by The National
Quotation Bureau Incorporated); provided, however, that if the Common Stock is
not traded in such manner that the quotations referred to herein are available
for the period required hereunder, the Current Market Price shall be determined
in good faith by the Board of Directors of the Company or, if such determination
cannot be made, by a nationally recognized independent investment banking firm
selected by the Board of Directors of the Company (or if such selection cannot
be made, by a nationally recognized independent investment banking firm selected
by the American Arbitration Association in accordance with its rules).

                  (d) "Final Exercise Date" shall mean August 15, 2005.

                  (e) "Warrant Certificate" shall mean this instrument
evidencing the Warrants issued to the Warrant holder on this date.

                  (f) "Warrant holder(s)" shall mean the registered holder(s) of
the Warrants.

                  (g) "Warrants" shall mean the Warrants represented by this
Warrant Certificate and all Warrants issued in exchange, transfer or replacement
or hereof or thereof.

                  (h) "Warrant Shares" shall mean the shares of Common Stock
purchased or purchasable by the holders of Warrants upon the exercise thereof
pursuant to paragraph 1.

         5. Exchange, Replacement and Assignability. This Warrant Certificate is
exchangeable, upon the surrender hereof by the holder hereof at the office or
agency of the Company described in paragraph 1, for new Warrant Certificates of
like tenor and date representing in the aggregate the right to purchase the
number of Warrant Shares which may be purchased hereunder, each of such new
Warrants to represent the right to purchase such number of Warrant Shares as
shall be designated by such holder
<PAGE>   6
hereof at the time of such surrender. Upon receipt of evidence satisfactory to
the Company of the loss, theft, destruction or mutilation of this Warrant
Certificate or any such new Warrant Certificates and, in the case of any such
loss, theft or destruction, of a bond of indemnity or other security
satisfactory to the Company, or, in the case of any such mutilation, upon
surrender or cancellation of such mutilated Warrant Certificate, the Company
will issue to the holder hereof a new Warrant Certificate of like tenor and
date, in lieu of this Warrant Certificate or such new Warrant Certificates,
representing the right to purchase the number of Warrant Shares which may be
purchased hereunder. Subject to compliance with paragraph 2, this Warrant and
all rights hereunder are transferable in whole or in part upon the books of the
Company by the registered holder hereof in person or by duly authorized
attorney, and a new Warrant Certificate shall be made and delivered by the
Company, of the same tenor and date as this Warrant Certificate but registered
in the name of the transferee, upon surrender of this Warrant Certificate, duly
endorsed, to the office or agency of the Company. All expenses, taxes (other
than stock transfer taxes, which shall be the obligation of the Warrant holder)
and other charges payable in connection with the preparation, execution and
delivery of Warrants pursuant to this paragraph 5 shall be paid by the Company.

         6. No Rights as Stockholder; Survival of Rights. Neither this Warrant
Certificate nor the Warrants represented hereby shall entitle the holder hereof
to any voting rights or any rights as a stockholder of the Company. The rights
and obligations of the Company, of the holder of these Warrants and of any
holder of Warrant Shares issued upon exercise of these Warrants shall survive
the exercise of these Warrants.

         7. Governing Law; Amendments and Waivers; Headings. The validity,
interpretation and performance of this Warrant Certificate and each of its terms
and provisions shall be governed by the laws of the State of Connecticut. No
provision of this Warrant Certificate may be changed, waived, discharged or
terminated except by an instrument in writing signed by the party against which
enforcement of the same is sought. The headings in this Warrant Certificate are
for purposes of reference only and shall not affect the meaning or construction
of any of the provisions hereof.

         8. Notices. Any notice or other document required or permitted to be
given or delivered to Warrant holders shall be delivered at, or sent by
certified or registered mail to each Warrant holder at, the address shown or to
such other address as shall have been furnished to the Company by such Warrant
holder. Any notice or other document required or permitted to be given or
delivered to the Company shall be delivered at, or sent by certified or
registered mail to the principal office of the Company at 35 Nutmeg Drive,
Trumbull, Connecticut 06611 Attention: Secretary, or such other address as shall
have been furnished to the Warrant holders by the Company.

         IN WITNESS WHEREOF, E-Sync Networks, Inc. has caused this Warrant
Certificate to be signed by its duly authorized officer under its corporate
seal, duly attested by its authorized officer, and to be dated as of August 15,
2000.

                                        E-SYNC NETWORKS, INC.

                                        By:
                                           Name:
                                           Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00017-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00017-of-00352.parquet"}]]