Document:

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                                             Exhibit 4.12

FORM OF WARRANT--EXHIBIT B

                              SAFLINK Corporation

  THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933 OR ANY STATE SECURITIES LAWS AND, UNLESS SO REGISTERED,
MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A
TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT
AND APPLICABLE STATE SECURITIES LAWS.

                       WARRANT TO PURCHASE COMMON SHARES

  Warrant to purchase up to [1,000,000] shares of the $0.01 par value common
stock of SAFLINK Corporation (subject to adjustment)

  This certifies that, for value received,      , or its successors or assigns
(the "Holder"), is entitled, subject to the terms set forth below, to purchase
from SAFLINK Corporation (the "Company") up to [1,000,000] shares (the "Warrant
Shares") of the $0.01 par value common stock of the Company ("Common Stock"),
upon surrender of this certificate at 18650 N.E. 67th Court, Suite 210, Redmond,
WA 98052, or such other place as the Company may designate in writing to the
Holder, and the simultaneous payment therefor in lawful money of the United
States of America of the Exercise Price (as hereinafter defined). The number,
character and Exercise Price of such shares are subject to adjustment as
provided herein. The term "Warrant" as used herein shall include this
certificate, the securities represented by this certificate and any warrants
delivered in substitution or exchange for this certificate as provided herein.

  This Warrant is issued in connection with that certain loan agreement by and
among the Holder and the Company (the "Loan Agreement") dated as of        ,
2000 (the "Warrant Issue Date").

  1. Term of Warrant. Subject to the terms and conditions set forth herein, this
Warrant shall be exercisable, in whole or in part, during the period of time
(the "Exercise Period") commencing on the Warrant Issue Date and ending at 5:00
p.m. on the last day of the sixtieth (60th) full calendar month after the
Warrant Issue Date.

  2. Exercise Price. Subject to Section 9(a), the price at which the Holder may
exercise this Warrant (the "Exercise Price") shall be at a fixed price of One
United States Dollar (U.S. $1.00) per share.

  3. Vesting of Warrant. Effective as of the Warrant Issue Date, the Warrant
shall be fully vested and exercisable, and the Holder shall have the right to
purchase up to [1,000,000] shares of the Company's Common Stock pursuant to the
terms and conditions of this Warrant.

  4. Exercise of the Warrant. Subject to the provisions of Section 5 below, the
purchase rights represented by this Warrant are exercisable by the Holder, in
whole or in part, at any time, and from time to time during the Exercise Period,
by the Holder's surrender of this Warrant at 18650 N.E. 67th Court, Suite 210,
Redmond, WA 98052, or such other place as the Company may designate in writing
to Holder, and the simultaneous payment therefor in lawful money of the United
States of America of the Exercise Price in immediately available funds. This
Warrant shall be deemed exercised on the date immediately prior thereto, and the
Holder shall be entitled to receive the shares of Common Stock of the Company
and be treated for all purposes as the holder of record of such shares as of the
close of business on such date. As promptly as practicable, but in no event
later than 10 business days thereafter, the Company shall issue and deliver, at
its sole cost and expense, to the person or persons entitled to receive the same
a certificate or certificates for the number of shares issuable upon such
exercise. In the event that this Warrant is exercised in part, the Company, at
its sole cost and expense, shall execute and deliver a new warrant of like tenor
as this Warrant, exercisable for the remaining number of shares for which this
Warrant may then be exercised, and shall cancel this Warrant only upon issuance
of such new warrant. There shall be no cashless conversion of the Warrant.

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  5. Redemption. This Warrant may be redeemed by the Company by giving written
notice of such redemption ("Warrant Redemption Notice") to the Holder on or
prior to the last day of the sixtieth (60th) full calendar month after the
Warrant Issue Date (the "Redemption"). The redemption price shall be three
hundred percent (300%) of the Exercise Price (the "Redemption Price"). The
Company shall be entitled to redeem the Warrant only in the event that the last
reported sale price on the principal securities exchange or market for the
Company's Common Stock equals or exceeds the Redemption Price for any twenty
(20) trading day period prior to such notice. The Redemption shall occur within
thirty (30) days of the Warrant Redemption Notice at a time place and date
selected by the Company at which time the Company shall pay the Redemption Price
and the Holder shall deliver to the Company in consideration thereof this
Warrant Certificate.

  6. Rights as a Stockholder. The Holder shall not be entitled to vote, receive
dividends or be deemed to be the owner of record of the shares of Common Stock
of the Company to which this Warrant relates unless and until the Holder
exercises this Warrant, and then the Holder shall enjoy such rights only to the
extent of such exercise.

  7. Transfer of Warrant.

     (a) Warrant Register. The Company will maintain a register (the "Warrant
  Register") maintaining the names and addresses of the Holder or Holders. Any
  Holder of this Warrant or any portion thereof may change his/her address as
  shown on the Warrant Register by written notice to the Company requesting such
  change. Any notice or written communication required or permitted to be given
  to the Holder may be delivered or given by mail to such Holder as shown on the
  Warrant Register and at the address shown on the Warrant Register. Until this
  Warrant is transferred on the Warrant Register of the Company, the Company may
  treat the Holder as shown on the Warrant Register as the absolute owner of
  this Warrant for all purposes, notwithstanding any notice to the contrary.

     (b) Warrant Agent. The Company may, by written notice to the Holder,
  appoint an agent for the purpose of maintaining the Warrant Register referred
  to in Section 6(a) above, issuing the Common Stock or other securities then
  issuable upon the exercise of this Warrant, exchanging this Warrant, replacing
  this Warrant, or any or all of the foregoing. Thereafter, any such
  registration, issuance, exchange, or replacement, as the case may be, shall be
  made at the office of such agent.

     (c) Exchange of Warrant upon a Transfer. On surrender of this Warrant for
  exchange, properly endorsed and subject to the provisions of this Warrant with
  respect to compliance with the Act and with the limitations on assignments and
  transfers and contained in this Section 7, the Company at its expense shall
  issue to or on the order of the Holder a new Warrant or Warrants of like
  tenor, in the name of the Holder or as the Holder (on payment by the Holder of
  any applicable transfer taxes) may direct, for the number of shares issuable
  upon exercise hereof.

     (d) Compliance with Securities Laws.

        (i) The Holder of this Warrant, by acceptance hereof, acknowledges that
     this Warrant and the shares of Common Stock to be issued upon exercise
     hereof are being acquired solely for the Holder's own account (and not as a
     nominee for any other party), and for investment (except to the extent that
     a distribution may be effected pursuant to the registration rights granted
     hereunder), and that the Holder will not offer, sell or otherwise dispose
     of this Warrant or any shares of the Common Stock to be issued upon
     exercise hereof except under circumstances that will not result in a
     violation of the Act or any state securities laws. Upon exercise of this
     Warrant, the Holder shall, if requested by the Company, confirm in writing,
     in a form satisfactory to the Company, that the shares of Common Stock so
     purchased are being acquired solely for the Holder's own account and not as
     a nominee for any other party, for investment, and not with a view toward
     distribution or resale (except to the extent that a distribution may be
     effected pursuant to the registration rights granted hereunder).

        (ii) This Warrant and all shares of Common Stock issued upon exercise
     hereof or conversion thereof shall be stamped or imprinted with a legend in
     substantially the following form (in addition to any legend required by
     state securities laws):

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     THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
     SECURITIES ACT OF 1933 OR ANY STATE SECURITIES LAWS AND, UNLESS SO
     REGISTERED, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EXEMPTION
     FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF
     THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS.

  8. Reservation of Stock. The Company covenants that during the Exercise
Period, the Company will reserve from its authorized and unissued shares of
Common Stock a sufficient number of shares to provide for the issuance of Common
Stock upon the exercise of the Warrant and, from time to time, will take all
steps necessary to amend its certificate of incorporation (the "Certificate") to
provide sufficient authorized reserved shares of Common Stock issuable upon
exercise of the Warrant. The Company further covenants that all shares that may
be issued upon exercise of the rights represented by this Warrant and payment of
the Exercise Price, all as set forth herein, will be free from all taxes, liens
and charges in respect of the issue hereof (other than taxes in respect of any
transfer occurring contemporaneously or otherwise specified herein). The Company
agrees that its issuance of this Warrant shall constitute full authority to its
officers who are charged with the duty of executing stock certificates to
execute and issue the necessary certificates for shares of Common Stock upon the
exercise of this Warrant.

  9. Registration Rights.

     (a) Registration Initiated by Company. If the Company at any time prior to
  the termination of this Section proposes to register an offering of its
  securities of the same class as the shares underlying the Warrant under the
  Securities Act of 1933 (the "Securities Act"), either for its own account or
  for the account of or at the request of one or more persons holding securities
  of the Company, the Company will:

        (i) give written notice thereof to the Holder (which shall include a
     list of the jurisdictions in which the Company intends to attempt to
     qualify such securities under the applicable blue sky or other state
     securities laws) within 10 business days of its receipt of a request from
     one or more persons holding securities of the Company to register
     securities, or from its decision to effect a registration of securities
     (other than securities to be registered on Form S-8 or S-4 or such
     successor forms as may be adopted by the Securities and Exchange Commission
     in connection with employee benefit plans or stock compensation
     arrangements or an acquisition) for its own account, whichever first
     occurs; and

        (ii) use its commercially reasonable efforts to include in such
     registration (and any related qualification under blue sky laws or other
     compliance), and in any underwriting involved therein, all the Registrable
     Shares (as defined herein) as specified in a written request by Holder made
     within 30 days after receipt of such written notice from the Company,
     except as set forth in Sections (b) and (c) below; provided, however, that
     if at any time after giving written notice to the Holder of its intention
     to register Company securities under the Securities Act, the Company shall
     determine not to register any such securities, the Company may, at its
     election, give written notice of such determination to the Holder and,
     thereupon, shall be relieved of its obligation to register such Registrable
     Shares pursuant to this Section 9 in connection with such registration,
     without prejudice, however, to any rights of the Holder to request that
     such registration be effected as a registration under other provisions of
     this Warrant, and provided further that if at any time after giving written
     notice to the Holder of its intention to register Company securities under
     the Securities Act, the Company shall determine to delay the registration
     of such securities or suspend the use of such registration statement, the
     Company shall be permitted to delay the registration of such shares
     underlying the Warrant or suspend the use of such registration statement
     for the same period as the delay in registering the securities to be
     registered by the Company or the suspension of the use of such registration
     statement for its own account or for others.

        For purposes of this Section 8, "Registrable Shares" means (i) the
        shares underlying the Warrant, and (ii) any shares of Common Stock
        issued as a dividend or other distribution with respect to, or in
        exchange for or in replacement of, the shares underlying the Warrant;
        provided, however, that any shares previously sold to the public
        pursuant to a registered public offering or pursuant to Rule 144 or

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  Rule 145 under the Securities Act, and any shares otherwise sold or
  transferred in a transaction in which the transferor's rights under this
  Warrant are not assigned in accordance with this Warrant, shall cease to be
  Registrable Securities.

  (b) Amount to be Included. In the event that shares underlying the Warrant are
requested to be included in any registration initiated pursuant to Section (a)
that contemplates an underwritten public offering, and if, in the good faith
judgment of the managing underwriter of such public offering, the inclusion of
all of the shares underlying the Warrant originally covered by a request for
registration, together with the number or amount of securities that were
intended to be offered by other persons holding securities of the Company who
hold registration rights, would interfere with the successful marketing of such
securities, then, such managing underwriter may limit the number or amount of
securities to be included in the registration such that all persons holding
securities of the Company (including the Holder) who hold registration rights
and who have requested registration (collectively, the "Security Holders") shall
participate in the underwritten public offering pro rata based upon the total
number or amount of securities to be offered by the total number or amount of
securities held by each Security Holder (including the number or amount of
securities which each such Security Holder may then be entitled to receive upon
the exercise of any option or warrant, or the exchange or conversion of any
security, held by such Security Holder). If any such Security Holder would thus
be entitled to include more securities than such Security Holder requested to be
registered, the excess shall be allocated among the other Security Holders pro
rata in a manner similar to that described in the previous sentence.

  (c) Underwriting. If the registration of which the Company gives notice is for
a registered public offering involving an underwriting, the Company shall so
advise the Holder as a part of the written notice given pursuant to Section (a).
In such event, the right of each shareholder requesting registration pursuant to
this Section 9 shall be conditioned upon its participation in such underwriting
and the inclusion of the Registrable Shares in the underwriting to the extent
provided herein (the "Requesting Shareholder"). The Requesting Shareholder shall
(together with the Company and the other security holders (if any) distributing
their securities through such underwriting) enter into an underwriting agreement
in customary form with the underwriter or underwriters selected for such
underwriting by the Company (including, without limitation, customary lock-up
provisions as required by the underwriter). If the Requesting Shareholder
disapproves of the terms of any such underwriting, it may elect to withdraw
therefrom by written notice to the Company and the underwriter. Any Registrable
Shares excluded or withdrawn from such underwriting shall be withdrawn from such
registration.

  (d) Withdrawal from Registration. The Holder may, at any time prior to the
effective date of the registration statement relating to such registration,
revoke such request under this Section 9 by delivering written notice of such
revocation to Company.

  (e) Expenses of Registration. The Company shall bear all Company registration
expenses incurred in connection with each registration pursuant to Section 9,
excluding any underwriting discounts, brokerage commissions, or similar
expenses.

  (f) Maintaining an Effective Registration Statement. Except as otherwise
provided herein, the Company shall keep such registration statement described in
Section 9 effective until such time when the Holder shall have completed the
offering and sale of the Common Stock described in such registration statement,
provided such period of time shall not exceed 60 days.

  (g) Termination of Registration Rights. The registration rights set forth in
this Section 9 shall terminate in the event that all Registrable Shares are
permitted to be sold pursuant to Rule 144 under the Securities Act in a three
month period.

  10. Merger, Sale of Assets and other Fundamental Corporate Changes. If at any
time during the Exercise Period there shall be a sale of all or substantially
all of the Company's assets, or a merger, consolidation or reorganization of the
Company in which the Company is not the surviving entity, or other transaction
in which the shares of the Company are converted into shares of another entity
(a "Corporate Change Event"), the

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Company shall provide the Holder with written notice of such Corporate Change
Event at least ten (10) business days prior to the date on which a record will
be taken of stockholders of the Company with respect to such event (or, if the
Company notifies its stockholders of such record date less than ten (10)
business days prior to such record date, then the Company shall provide Holder
such notice at the same time that it provides its stockholders with such
notice).

   11. No Impairment. The Company shall not, by amendment of its charter,
through a reorganization, transfer of assets, consolidation, merger,
dissolution, issuance or sale of securities or any other voluntary action, avoid
or seek to avoid the observance or performance of any of the terms required to
be observed by the Company pursuant to this Warrant, and shall assist in
carrying out all of the provisions of this Warrant that may be necessary or
appropriate to protect Holder's rights hereunder against impairment.

  12. Adjustments. The number of securities purchasable hereunder is subject to
adjustment from time to time during the Exercise Period in order to preserve the
value of this Warrant as follows:

     (a) If the Company at any time during the Exercise Period splits,
  subdivides or combines the securities as to which purchase rights under this
  Warrant exist into a different number of securities of the same class, the
  Holder shall be entitled to acquire a proportionate number of securities of
  the same class at a price per share that is also adjusted proportionately.

     (b) If the Company at any time during the Exercise Period changes any of
  the securities as to which purchase rights under this Warrant exist into
  another class of securities of the Company, this Warrant shall thereafter
  represent the right, but not the obligation, with respect to the securities
  that were subject to the purchase rights under this Warrant immediately prior
  to such change, to acquire such number of securities of such other class as
  would have been issuable as a result of such change had the Holder exercised
  this Warrant immediately prior to such change.

     (c) If at any time during the Exercise Period, the holders of the Common
  Stock of the Company become entitled to receive, without consideration
  therefor, other or additional stock or other securities or property (other
  than cash) of the Company, then this Warrant shall represent the right, but
  not the obligation, to acquire, in addition to the number of shares of the
  security receivable upon exercise of this Warrant that the Holder is otherwise
  entitled to acquire, and without payment of additional consideration for the
  right to acquire such additional property, the amount of such other or
  additional stock or other securities or property (other than cash) of the
  Company that such holder would have been entitled to receive had it been the
  holder of record of the security receivable to which purchase rights under
  this Warrant relate at the time the holders of the Company's Common Stock
  became entitled to receive such property.

  13. Miscellaneous.

     (a) Successors. All the covenants and provisions hereof by or for the
  benefit of the Company or the Holder shall bind and inure to the benefit of
  their respective successors and assigns, without regard to the conflict of
  laws provisions thereof.

     (b) Governing Law. This Warrant shall be deemed to be a contract made under
  the laws of the State of Delaware and for all purposes shall be construed in
  accordance with the laws of said State.

     (c) Saturdays, Sundays, Holidays. If the last or appointed day for the
  taking of any action or the expiration of any right required or granted herein
  shall be a Saturday or a Sunday or shall be a legal holiday in the State of
  Delaware, then such action may be taken or such right may be exercised on the
  next succeeding day not a legal holiday.

     (d) Amendment. This Warrant and any term hereof may not be changed, waived,
  discharged or amended except by an instrument in writing signed by the party
  against whom enforcement of such change, waiver, discharge or amendment is
  sought.

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  IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its
duly authorized officer.

Dated      .

                                         SAFLINK CORPORATION

                                         By: _________________________________
                                         Name: James W. Shepperd
                                         Title: Chief Financial Officer

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                         FORM OF ELECTION TO PURCHASE

  (To be executed by the Holder to exercise the right to purchase shares of
Common Stock under the foregoing Warrant)

To SAFLINK Corporation:

  In accordance with the Warrant enclosed with this Form of Election to
Purchase, the undersigned hereby irrevocably elects to purchase SAFLINK
Corporation shares of Common Stock ("Common Stock"), $.01 par value per share,
of SAFLINK Corporation, and encloses herewith $ in cash or certified or official
bank check or checks, which sum represents the aggregate Exercise Price (as
defined in the Warrant) for the shares of Common Stock available for purchase
under and pursuant to the Warrant, together with any applicable taxes payable by
the undersigned pursuant to the Warrant.

  The undersigned requests that certificates for the shares of Common Stock
issuable upon this exercise be issued in the name of:

--------------------------------------------------------------------------------

whose address is:

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and whose social security number or tax identification number is:

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
(Please print name and address)

Dated:      ,

                                       [      ].:

                                       By: _________________________________
                                       Name:
                                       Title:

                                       7<PAGE>

                                                             EXHIBIT 10.10

NEITHER THESE SECURITIES NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE
EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR
THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM
REGISTRATION UNDER SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"),
AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS THEREUNDER AND IN COMPLIANCE WITH
APPLICABLE STATE SECURITIES OR BLUE SKY LAWS.

                          THE NATIONAL REGISTRY INC.

                                FORM OF WARRANT

                            Dated February 5, 1997

  THE NATIONAL REGISTRY INC., a Delaware corporation (the "Company"), hereby
certifies that, for value received, ________________, or its registered assigns
("Holder"), is entitled, subject to the terms set forth below, to purchase from
the Company up to a total of ________ shares of Common Stock, $.01 par value per
share (the "Common Stock"), of the Company (each such share, a "Warrant Share"
and all such shares, the "Warrant Shares") at an exercise price equal to $2.6125
per share (as adjusted from time to time as provided in Section 7, the "Exercise
Price"), at any time and from time to time from and after the date hereof and
through and including February 4, 2002 (the "Expiration Date"), and subject to
the following terms and conditions:

       17. REGISTRATION OF WARRANT. The Company shall register this Warrant,
upon records to be maintained by the Company for that purpose (the "Warrant
Register"), in the name of the record Holder hereof from time to time. The
Company may deem and treat the registered Holder of this Warrant as the absolute
owner hereof for the purpose of any exercise hereof or any distribution to the
Holder, and for all other purposes, and the Company shall not be affected by
notice to the contrary.

       18. REGISTRATION OF TRANSFERS AND EXCHANGES.

           (a) The Company shall register the transfer of any portion of this
Warrant in the Warrant Register, upon surrender of this Warrant, with the Form
of Assignment attached hereto duly completed and signed, to the Transfer Agent
or to the Company at the office specified in or pursuant to Section 3(b). Upon
any such registration or transfer, a new warrant to purchase Common Stock, in
substantially the form of this Warrant (any such new warrant, a "New Warrant"),
<PAGE>

evidencing the portion of this Warrant so transferred shall be issued to the
transferee and a New Warrant evidencing the remaining portion of this Warrant
not so transferred, if any, shall be issued to the transferring Holder. The
acceptance of the New Warrant by the transferee thereof shall be deemed the
acceptance of such transferee of all of the rights and obligations of a holder
of a Warrant.

         (b) This Warrant is exchangeable, upon the surrender hereof by the
Holder to the office of the Company specified in or pursuant to Section 3(b) for
one or more New Warrants, evidencing in the aggregate the right to purchase the
number of Warrant Shares which may then be purchased hereunder. Any such New
Warrant will be dated the date of such exchange.

     19. DURATION AND EXERCISE OF WARRANTS.

         (a) This Warrant shall be exercisable by the registered Holder on any
business day before 5:30 P.M., New York time, at any time and from time to time
on or after the date hereof to and including the Expiration Date. At 5:30 P.M.,
New York time on the Expiration Date, the portion of this Warrant not exercised
prior thereto shall be and become void and of no value.

         (b) Subject to Sections 2(b), 4 and 8, upon surrender of this Warrant,
with the Form of Election to Purchase attached hereto duly completed and signed,
to the Company at its office at 2502 Rocky Point Drive, Tampa, Florida 33607,
Attention: Chief Financial Officer, or at such other address as the Company may
specify in writing to the then registered Holder, and upon payment of the
Exercise Price multiplied by the number of Warrant Shares that the Holder
intends to purchase hereunder, in lawful money of the United States of America,
in cash or by certified or official bank check or checks, all as specified by
the Holder in the Form of Election to Purchase, the Company shall promptly (but
in no event later than 3 business days after the date of exercise) issue or
cause to be issued and cause to be delivered to or upon the written order of the
Holder and in such name or names as the Holder may designate, a certificate for
the Warrant Shares issuable upon such exercise, free of restrictive legends
other than as required by applicable law. Any person so designated by the Holder
to receive Warrant Shares shall be deemed to have become holder of record of
such Warrant Shares as of the Date of Exercise of this Warrant.

         A "Date of Exercise" means the date on which the Company shall have
received (i) this Warrant (or any New Warrant, as applicable), with the Form of
Election to Purchase attached hereto (or attached to such New Warrant)
appropriately completed and duly signed, and (ii) payment of the Exercise Price
for the number of Warrant Shares so indicated by the holder hereof to be
purchased.

         (c) This Warrant shall be exercisable, either in its entirety or, from
time to time, for a portion of the number of Warrant Shares so long as at least
10,000 Warrant Shares are purchased in any one exercise. If less than all of the
Warrant Shares which may be purchased under this Warrant are exercised at any
time, the Company shall issue or cause to be issued, at its expense,
<PAGE>

a New Warrant evidencing the right to purchase the remaining number of Warrant
Shares for which no exercise has been evidenced by this Warrant.

         (d) This Warrant shall only be exercisable if, and shall be only
exercisable to the extent, it is legal to do so because, among other things, the
Warrant Shares are registered pursuant to a registration statement which has
been declared effective by the Securities and Exchange Commission, and which is
still effective on the applicable date of exercise, or the issuance of such
Warrant Shares are exempt from the registration requirements of the Securities
Act of 1933, as amended.

     20. PAYMENT OF TAXES. The Company will pay all documentary stamp taxes
attributable to the issuance of Warrant Shares upon the exercise of this
Warrant; provided, however, that the Company shall not be required to pay any
tax which may be payable in respect of any transfer involved in the registration
of any certificates for Warrant Shares or Warrants in a name other than that of
the Holder, and the Company shall not be required to issue or cause to be issued
or deliver or cause to be delivered the certificates for Warrant Shares unless
or until the person or persons requesting the issuance thereof shall have paid
to the Company the amount of such tax or shall have established to the
satisfaction of the Company that such tax has been paid. The Holder shall be
responsible for all other tax liability that may arise as a result of holding or
transferring this Warrant or receiving Warrant Shares upon exercise hereof.

     21. REPLACEMENT OF WARRANT. If this Warrant is mutilated, lost, stolen or
destroyed, the Company may in its discretion issue or cause to be issued in
exchange and substitution for and upon cancellation hereof, or in lieu of and
substitution for this Warrant, a New Warrant, but only upon receipt of evidence
reasonably satisfactory to the Company of such loss, theft or destruction and
indemnity, if requested, satisfactory to it. Applicants for a New Warrant under
such circumstances shall also comply with such other reasonable regulations and
procedures and pay such other reasonable charges as the Company may prescribe.

     22. RESERVATION OF WARRANT SHARES. The Company covenants that it will at
all times reserve and keep available out of the aggregate of its authorized but
unissued Common Stock, solely for the purpose of enabling it to issue Warrant
Shares upon exercise of this Warrant as herein provided, the number of Warrant
Shares which are then issuable and deliverable upon the exercise of this entire
Warrant, free from preemptive rights or any other actual contingent purchase
rights of persons other than the Holders (taking into account the adjustments
and restrictions of Section 7). The Company agrees to use its best efforts to
ensure that all Warrant Shares that shall be so issuable and deliverable shall,
upon issuance and the payment of the applicable Exercise Price in accordance
with the terms hereof, be duly and validly authorized, issued and fully paid and
nonassessable.

     23. CERTAIN ADJUSTMENTS. The Exercise Price and number of Warrant Shares
issuable upon exercise of this Warrant are subject to adjustment from time to
time as set forth in this Section 7. Upon each such adjustment of the Exercise
Price pursuant to this Section 7, the Holder shall thereafter prior to the
Expiration Date be entitled to purchase, at the Exercise Price resulting from
such adjustment, the number of Warrant Shares obtained by multiplying the
Exercise Price in
<PAGE>

effect immediately prior to such adjustment by the number of Warrant Shares
issuable upon exercise of this Warrant immediately prior to such adjustment and
dividing the product thereof by the Exercise Price resulting from such
adjustment.

         (a) If the Company, at any time while this Warrant is outstanding, (i)
shall pay a stock dividend or otherwise make a distribution or distributions on
shares of its Junior Securities (as such term is defined in the Debenture)
payable in shares of Common Stock, (ii) subdivide outstanding shares of Common
Stock into a larger number of shares, or (iii) combine outstanding shares of
Common Stock into a smaller number of shares, the Exercise Price shall be
multiplied by a fraction of which the numerator shall be the number of shares of
Common Stock (excluding treasury shares, if any, but including warrants or
options that would be included for purposes of determining earnings per share in
accordance with generally accepted accounting principals) outstanding before
such event and of which the denominator shall be the number of shares of Common
Stock (excluding treasury shares, if any, but including warrants or options that
would be included for purposes of determining earnings per share in accordance
with generally accepted accounting principals) outstanding after such event. Any
adjustment made pursuant to this Section shall become effective immediately
after the record date for the determination of stockholders entitled to receive
such dividend or distribution and shall become effective immediately after the
effective date in the case of a subdivision or combination, and shall apply to
successive subdivisions and combinations.

         (b) In case of any reclassification of the Common Stock, any
consolidation or merger of the Company with or into another person, the sale or
transfer of all or substantially all of the assets of the Company or any
compulsory share exchange pursuant to which the Common Stock is converted into
other securities, cash or property, then the Holder shall have the right
thereafter to exercise this Warrant only into the shares of stock and other
securities and property receivable upon or deemed to be held by holders of
Common Stock following such reclassification, consolidation, merger, sale,
transfer or share exchange, and the Holder shall be entitled upon such event to
receive such amount of securities or property equal to the amount of Warrant
Shares such Holder would have been entitled to had such Holder exercised this
Warrant immediately prior to such reclassification, consolidation, merger, sale,
transfer or share exchange. The terms of any such consolidation, merger, sale,
transfer or share exchange shall include such terms so as to give to the Holder
the right to receive the securities or property set forth in this Section 7(b)
as part of such reclassification, consolidation, merger, sale, transfer or share
exchange.

         (c) If the Company, at any time while this Warrant is outstanding,
shall distribute to all holders of Common Stock (and not to holders of this
Warrant) evidences of its indebtedness or assets (other than cash dividends) or
rights or warrants to subscribe for or purchase any security (excluding those
referred to in Sections 7(a), (b) and (d)), then in each such case the Exercise
Price shall be determined by multiplying the Exercise Price in effect
immediately prior to the record date fixed for determination of stockholders
entitled to receive such distribution by a fraction of which the denominator
shall be the Exercise Price determined as of the record date mentioned above,
and of which the numerator shall be such Exercise Price on such record date less
the then fair market value at such record date of the portion of such assets or
evidence of
<PAGE>

indebtedness so distributed applicable to one outstanding share of Common Stock
as determined by a nationally recognized or major regional investment banking
firm or firm of independent certified public accountants of recognized standing
(which may be the firm that regularly examines the financial statements of the
Company) (an "APPRAISER") selected in good faith by the holders of a majority in
interest of the Warrants then outstanding and consented to by the Company (which
consent shall not be unreasonably withheld).

         (d) If, at any time while this Warrant is outstanding, the Company
shall issue or cause to be issued rights or warrants to acquire or otherwise
sell or distribute shares of Common Stock to all holders of Common Stock for a
consideration per share less than the Exercise Price then in effect, then,
forthwith upon such issue or sale, the Exercise Price shall be reduced to the
price (calculated to the nearest cent) determined by dividing (i) an amount
equal to the sum of (A) the number of shares of Common Stock outstanding
immediately prior to such issue or sale multiplied by the Exercise Price, and
(B) the consideration, if any, received or receivable by the Company upon such
issue or sale by (ii) the total number of shares of Common Stock outstanding
immediately after such issue or sale.

         (e) For the purposes of this Section 7, the following clauses shall
also be applicable:

             (i)  RECORD DATE. In case the Company shall take a record of the
holders of its Common Stock for the purpose of entitling them (A) to receive a
dividend or other distribution payable in Common Stock or in Convertible
Securities, or (B) to subscribe for or purchase Common Stock or Convertible
Securities, then such record date shall be deemed to be the date of the issue or
sale of the shares of Common Stock deemed to have been issued or sold upon the
declaration of such dividend or the making of such other distribution or the
date of the granting of such right of subscription or purchase, as the case may
be.

             (ii) TREASURY SHARES. The number of shares of Common Stock
outstanding at any given time shall not include shares owned or held by or for
the account of the Company, and the disposition of any such shares shall be
considered an issue or sale of Common Stock.

         (f) All calculations under this Section 7 shall be made to the nearest
cent or the nearest 1/100th of a share, as the case may be.

         (g) Whenever the Exercise Price is adjusted pursuant to Section 7(c)
above or Section 7(i) below, the Company, after receipt of the determination by
the Appraiser shall have the right to select an additional Appraiser, in good
faith, in which case the adjustment shall be equal to the average of the
adjustments recommended by each Appraiser. The Company shall promptly mail or
cause to be mailed to each Holder, a notice setting forth the Exercise Price
after such adjustment and setting forth a brief statement of the facts requiring
such adjustment. Such adjustment shall become effective immediately after the
record date mentioned above. All
<PAGE>

determinations with respect to adjustments by the Company hereunder shall be
made by the Board of Directors in good faith.

      (h)  If:

           (i)   the Company shall declare a dividend (or any other
                 distribution) on its Common Stock in Common Stock; or

           (ii)  the Company shall declare a special nonrecurring cash dividend
                 on or a redemption of its Common Stock; or

           (iii) the Company shall authorize the granting to all holders of the
                 Common Stock rights or warrants to subscribe for or purchase
                 any shares of capital stock of any class or of any rights; or

           (iv)  the approval of any stockholders of the Company shall be
                 required in connection with any reclassification of the Common
                 Stock of the Company, any consolidation or merger to which the
                 Company is a party, any sale or transfer of all or
                 substantially all of the assets of the Company, or any
                 compulsory share exchange whereby the Common Stock is converted
                 into other securities, cash or property; or

           (v)   the Company shall authorize the voluntary dissolution,
                 liquidation or winding up of the affairs of the Company,

then the Company shall cause to be mailed to each Holder at their last addresses
as they shall appear upon the Warrant Register, to the extent practicable at
least 20 calendar days prior to the applicable record or effective date
hereinafter specified, a notice stating (x) the date on which a record is to be
taken for the purpose of such dividend, distribution, redemption, rights or
warrants, or if a record is not to be taken, the date as of which the holders of
Common Stock of record to be entitled to such dividend, distributions,
redemption, rights or warrants are to be determined or (y) the date on which
such reclassification, consolidation, merger, sale, transfer or share exchange
is expected to become effective or close, and the date as of which it is
expected that holders of Common Stock of record shall be entitled to exchange
their shares of Common Stock for securities, cash or other property deliverable
upon such reclassification, consolidation, merger, sale, transfer, share
exchange, dissolution, liquidation or winding up; PROVIDED, HOWEVER, that the
failure to mail such notice or any defect therein or in the mailing thereof
shall not affect the validity of the corporate action required to be specified
in such notice.

       (i) If at any time conditions shall arise by reason of action taken by
the Company which in the opinion of the Board of Directors are not adequately
covered by the other provisions hereof and which would reasonably be expected to
materially affect the rights of the Holders (different than or distinguished
from the effect generally on rights of holders of any class of
<PAGE>

the Company's capital stock) or if any time such conditions are expected to
arise by reason of any action contemplated by the Company, the Company shall
mail a written notice briefly describing the action contemplated and the
material adverse effects of such action on the rights of the Holders to the
extent practicable at least 20 calendar days prior to the effective date of such
action, and an Appraiser selected by the Holders of majority in interest of the
Warrants then outstanding and consented to by the Company (which consent shall
not be unreasonably withheld) shall give its opinion as to the adjustment, if
any (not inconsistent with the standards established in Section 7(e)), of the
Exercise Price (including, if necessary, any adjustment as to the Warrant Shares
to be purchased upon exercise of this Warrant) and any distribution which is or
would be required to be preserved without diluting the rights of the Holders.

       24. FRACTIONAL SHARES. The Company shall not be required to issue or
cause to be issued fractional Warrant Shares on the exercise of this Warrant.
The number of full Warrant Shares which shall be issuable upon the exercise of
this Warrant shall be computed on the basis of the aggregate number of Warrant
Shares purchasable on exercise of this Warrant so presented. If any fraction of
a Warrant Share would, except for the provisions of this Section 8, be issuable
on the exercise of this Warrant, the Company shall, at its option, (a) pay an
amount in cash equal to the Exercise Price multiplied by such fraction or (b)
shall round the number of Warrant Shares issuable, up to the next whole number
of such shares.

       25. NOTICES. Any and all notices or other communications or deliveries
hereunder shall be in writing and shall be deemed given and effective on the
earliest of (i) the date of transmission, if such notice or communication is
delivered via facsimile at the facsimile telephone number specified in this
Section prior to 4:30 p.m. (Eastern Standard Time) on a business day, (ii) the
business day after the date of transmission, if such notice or communication is
delivered via facsimile at the facsimile telephone number specified in this
Section later than 4:30 p.m. (Eastern Standard Time) on any date and earlier
than 11:59 p.m. (Eastern Standard Time) on such date, (iii) the business day
following the date of mailing, if sent by nationally recognized overnight
courier service, or (iv) upon actual receipt by the party to whom such notice is
required to be given. The addresses for such communications shall be: (i) if to
the Company, to The National Registry Inc., 2502 Rocky Point Drive, Tampa,
Florida 33607, Attention: Chief Financial Officer, or to facsimile no. (813)
636-0422, or (ii) if to the Holder, to the Holder at the address or facsimile
number appearing on the Warrant Register or such other address or facsimile
number as the Holder may provide to the Company in accordance with this Section
9.

       26. WARRANT AGENT.

           (a) The Company shall serve as warrant agent under this Warrant. Upon
thirty (30) days' notice to the Holder, the Company may appoint a new warrant
agent.

           (b) Any corporation into which the Company or any new warrant agent
may be merged or any corporation resulting from any consolidation to which the
Company or any new warrant agent shall be a party or any corporation to which
the Company or any new warrant agent transfers substantially all of its
corporate trust or shareholders services business shall be a
<PAGE>

successor warrant agent under this Warrant without any further act. Any such
successor warrant agent shall promptly cause notice of its succession as warrant
agent to be mailed (by first class mail, postage prepaid) to the Holder at the
Holder's last address as shown on the Warrant Register.

       27. MISCELLANEOUS.

           (a) This Warrant shall be binding on and inure to the benefit of the
parties hereto and their respective successors and permitted assigns. This
Warrant may be amended only in writing signed by the Company and the Holder.

           (b) Subject to Section 11(a), above, nothing in this Warrant shall be
construed to give to any person or corporation other than the Company and the
Holder any legal or equitable right, remedy or cause under this Warrant; this
Warrant shall be for the sole and exclusive benefit of the Company and the
Holder.

           (c) This Warrant shall be governed by and construed and enforced in
accordance with the internal laws of the State of New York without regard to the
principles of conflicts of law thereof.

           (d) The headings herein are for convenience only, do not constitute a
part of this Warrant and shall not be deemed to limit or affect any of the
provisions hereof.

           (e) In case any one or more of the provisions of this Warrant shall
be invalid or unenforceable in any respect, the validity and enforceability of
the remaining terms and provisions of this Warrant shall not in any way be
affected or impaired thereby and the parties will attempt in good faith to agree
upon a valid and enforceable provision which shall be a commercially reasonable
substitute therefor, and upon so agreeing, shall incorporate such substitute
provision in this Warrant.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
                            SIGNATURE PAGE FOLLOWS]
<PAGE>

  IN WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by
its authorized officer as of the date first indicated above.

                              THE NATIONAL REGISTRY INC.

                              By:______________________________
                              Name:____________________________
                              Title:___________________________
<PAGE>

                         FORM OF ELECTION TO PURCHASE

(To be executed by the Holder to exercise the right to purchase shares of Common
Stock under the foregoing Warrant)

To The National Registry Inc.:

  In accordance with the Warrant enclosed with this Form of Election to
Purchase, the undersigned hereby irrevocably elects to purchase _____________
shares of Common Stock ("Common Stock"), $.01 par value per share, of The
National Registry Inc. and encloses herewith $________ in cash or certified or
official bank check or checks, which sum represents the aggregate Exercise Price
(as defined in the Warrant) for the number of shares of Common Stock to which
this Form of Election to Purchase relates, together with any applicable taxes
payable by the undersigned pursuant to the Warrant.

  The undersigned requests that certificates for the shares of Common Stock
issuable upon this exercise be issued in the name of

                              PLEASE INSERT SOCIAL SECURITY OR
                              TAX IDENTIFICATION NUMBER
                              -----------------------------------
-----------------------------------------------------------------
                        (Please print name and address)

-----------------------------------------------------------------
-----------------------------------------------------------------
  If the number of shares of Common Stock issuable upon this exercise shall not
be all of the shares of Common Stock which the undersigned is entitled to
purchase in accordance with the enclosed Warrant, the undersigned requests that
a New Warrant (as defined in the Warrant) evidencing the right to purchase the
shares of Common Stock not issuable pursuant to the exercise evidenced hereby be
issued in the name of and delivered to:

-----------------------------------------------------------------
                        (Please print name and address)

-----------------------------------------------------------------
-----------------------------------------------------------------
Dated:------------,-----                    Name of Holder:
                             (Print)_____________________________
                             (By:)_______________________________
                             (Name:)_____________________________
                             (Title:)____________________________
                    (Signature must conform in all respects
                    to name of holder as specified on the face of
                    the Warrant)
<PAGE>

    [To be completed and signed only upon transfer of Warrant]
  FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
________________________________ the right represented by the within Warrant to
purchase ____________ shares of Common Stock of The National Registry Inc. to
which the within Warrant relates and appoints ________________ attorney to
transfer said right on the books of The National Registry Inc. with full power
of substitution in the premises.

Dated:

_________________,_____

                         __________________________________________________
                         (Signature must conform in all respects to name of
                         holder as specified on the face of the Warrant)

                         __________________________________________________
                         Address of Transferee

                         __________________________________________________
                         __________________________________________________
In the presence of:

_______________________

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