Document:

OMNIBUS AMENDMENT NO. 2

         This Omnibus Amendment No. 2 (this "AMENDMENT"), dated as of February
28, 2007, is entered into by and between THINKPATH, INC., an Ontario corporation
(the "PARENT"), THINKPATH, INC., an Ohio corporation ("THINKPATH-OH"), THINKPATH
OF MICHIGAN, INC., a Michigan corporation (the "THINKPATH-MI"), THINKPATH
TECHNICAL SERVICES, INC., an Ohio corporation ("THINKPATH TECHNICAL" and
together with the Parent, Thinkpath-OH and Thinkpath-MI, the "COMPANIES" and
each, a "COMPANY") and LAURUS MASTER FUND, LTD., a Cayman Islands company
("LAURUS"), for the purpose of amending the terms of (i) the Overadvance Side
Letter, dated June 30, 2006 by and among each Company and Laurus (as amended,
modified or supplemented from time to time, the "OVERADVANCE SIDE LETTER"), (ii)
the Secured Revolving Note issued by the Companies as of June 30, 2006 to Laurus
in the initial face amount of $3,500,000 (as amended, modified or supplemented
from time to time, the "REVOLVING NOTE"), (iii) the Secured Term Note issued by
the Companies as of June 30, 2006 to Laurus in the initial face amount of
$1,400,000 (as amended, modified or supplemented from time to time, the "TERM
NOTE"), (iv) the Security Agreement, dated as of June 30, 2006, by and among
each Company and Laurus, pursuant to the terms of which the Revolving Note and
Term Note were issued (as amended, modified or supplemented from time to time,
the "SECURITY AGREEMENT"), (v) the Common Stock Purchase Warrant issued by the
Parent to Laurus on June 27, 2005 and exercisable into up to 2,100,000 shares of
Common Stock of the Parent (as amended, modified or supplemented from time to
time, the "JUNE 2005 WARRANT"), (vi) the Common Stock Purchase Warrant issued by
the Parent to Laurus on January 26, 2006 and exercisable into up to 500,000
shares of Common Stock of the Parent (as amended, modified or supplemented from
time to time, the "JAN 2006 WARRANT"), (vii) the Common Stock Purchase Warrant
issued by the Parent to Laurus on June 30, 2006 and exercisable into up to
1,810,674 shares of Common Stock of the Parent (as amended, modified or
supplemented from time to time, the "JUNE 2006 WARRANT"), (viii) the Common
Stock Purchase Warrant issued by the Parent to Laurus on November 15, 2006 and
exercisable into up to 940,750 shares of Common Stock of the Parent (as amended,
modified or supplemented from time to time, the "NOV 2006 WARRANT"and together
with the Overadvance Side Letter, the Revolving Note, the Term Note, the
Security Agreement, the June 2005 Warrant, the June 2005 Option, the Jan 2006
Warrant, the June 2006 Warrant and each other Ancillary Agreement as defined in
the Security Agreement, the "LOAN DOCUMENTS"). Capitalized terms used herein
without definition shall have the meanings ascribed to such terms in the
Security Agreement.

         WHEREAS, each Company and Laurus have agreed to make certain changes
and/or modifications to certain of the Loan Documents as set forth herein.

         NOW, THEREFORE, in consideration of the above, and for other good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto agree as follows:

<PAGE>

PRINCIPAL POSTPONEMENT; AMENDMENT TO TERM NOTE

         1. Laurus and each Company hereby agree that the Companies shall not be
required to pay the principal portion of any Monthly Amount (as defined in the
Term Note) due on the first business day of March 2007, April 2007, May 2007,
June 2007, July 2007 and August 2007 on such dates (collectively, the "POSTPONED
PRINCIPAL"); PROVIDED THAT, the Postponed Principal (i.e. $254,545.44) shall be
amortized equally over the final 22 months of term of the Term Loan prior to
maturity commencing on the first business day of September 2007 (i.e. the
principal portion of the Monthly Amount due on the first business day of each
month beginning with September 2007 through and including June 2009 shall be
increased to $53,994.49). All amounts that remain outstanding under the Loan
Documents on the Maturity Date shall be due and payable on the Maturity Date.

AMENDMENT TO REVOLVING NOTE

         2. The stated amount of the Revolving Note is hereby increased to
$3,650,000 and the Revolving Note is hereby amended by deleting the amount
"THREE MILLION FIVE HUNDRED THOUSAND DOLLARS (US$3,500,000)" appearing in the
preamble thereto and inserting the amount "THREE MILLION SIX HUNDRED FIFTY
THOUSAND DOLLARS (US$3,650,000)" in lieu thereof.

AMENDMENT TO SECURITY AGREEMENT

         3. Section 13 of the Security Agreement is hereby amended by inserting
the following new clause 13(bb) at the end thereof:

         "(bb) MINIMUM CONSOLIDATED CASH FLOW. The Parent and its Subsidiaries
         shall have Consolidated Cash Flow of no less than $1,000.00 for each
         monthly period as determined on the last day of each such month.

         4. The definition of "Capital Availability Amount" appearing in Annex A
to the Security Agreement is hereby amended by deleting the amount
"US$3,500,000" appearing therein and inserting the amount "US$3,650,000" in lieu
thereof.

         5. Annex A of the Security Agreement is hereby amended by inserting the
following new definitions of "Capital Expenditures", "Capital Lease
Obligations", "Consolidated Cash Flow", "Consoldiated EBIT", "Consolidated
EBITDA" and "Consolidated Net Income" in appropriate alphabetical order:

         "Capital Expenditures" shall mean, with respect to any Person, all
         expenditures by such Person which should be capitalized in accordance
         with generally accepted accounting principles and, without duplication,
         the amount of Capitalized Lease Obligations incurred by such Person.

         "Capitalized Lease Obligations" shall mean, with respect to any Person,
         all rental obligations of such Person which, under generally accepted
         accounting principles, are or will be required to be capitalized on the
         books of such Person, in each case taken at the amount thereof
         accounted for as indebtedness in accordance with such principles.

         "Consolidated Cash Flow" for any period shall mean the remainder of (1)
         Consolidated EBITDA LESS (2) the sum of, without duplication, of (i)
         all interest expense of the Parent and its Subsidiaries for such
         period, (ii) the amount of all rent expense of, and lease payments
         expensed by, the Parent and its Subsidiaries with respect to real
         property (including land, buildings, improvements and fixtures,

                                      -2-
<PAGE>

         including leaseholds) and vehicles, determined on a consolidated basis
         for such period, (iii) the amount of all Capital Expenditures made by
         the Parent and its Subsidiaries determined on a consolidated basis for
         such period, (iv) all dividends actually paid by the Parent during such
         period, (v) the scheduled principal amount of all amortization payments
         with respect to indebtedness of the Parent and its Subsidiaries for
         such period (as determined on the first day of the respective period)
         and (vi) accrued taxes of the Parent and its Subsidiaries based on
         income that were included and arriving at Consolidated Net Income.

         "Consolidated EBIT" shall mean, for any period, the remainder of
         Consolidated Net Income for such period, before interest expense and
         provision for taxes based on income that were included and arriving at
         Consolidated Net Income for such period and without giving effect to
         (x) any extraordinary gains or losses, and (y) any gains or losses from
         sales of assets other than inventory sold in the ordinary course of
         business.

         "Consolidated EBITDA" shall mean, for any period, Consolidated EBIT,
         adjusted by adding thereto the amount of all amortization of
         intangibles and depreciation, in each case that were deducted in
         arriving at Consolidated EBIT for such period.

         "Consolidated Net Income" shall mean, for any period, the net income
         (or loss) of the Parent and its Subsidiaries for such period,
         determined on a consolidated basis (after any deduction for minority
         interests), PROVIDED that (i) in determining Consolidated Net Income,
         the net income of any other Person which is not a Subsidiary of the
         Parent or is accounted for by the Parent by the equity method of
         accounting shall be included only to the extent of the payment of cash
         dividends or cash distributions by such other Person to the Parent or a
         Subsidiary thereof during such period, (ii) the net income of any
         Subsidiary of the Parent shall be excluded to the extent that the
         declaration or payment of cash dividends or similar cash distributions
         by that Subsidiary of that net income is not at the date of
         determination permitted by operation of its charter or any agreement,
         instrument or law applicable to such Subsidiary and (iii) the net
         income (or loss) of any other Person acquired by the Parent or a
         Subsidiary of the Parent in a pooling of interests transaction for any
         period prior to the date of such acquisition shall be excluded.

         6. The definition of "Secured Revolving Note" appearing in Annex A to
the Security Agreement is hereby amended by deleting the amount "US$3,500,000"
appearing therein and inserting the amount "US$3,650,000" in lieu thereof.

AMENDMENT TO OVERADVANCE SIDE LETTER

         7. The Overadvance Side Letter is hereby amended by (i) deleting
Schedule A in its entirety and inserting the following new Schedule A in lieu
thereof:

                                      -3-
<PAGE>

                           "SCHEDULE A

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

                                     MAXIMUM PERIODIC
                                    OVERADVANCE AMOUNT
             PERIOD
--------------------------------- -----------------------
--------------------------------- -----------------------
March 1, 2007 through and             $1,692,424.24
including August 31, 2007
--------------------------------- -----------------------
--------------------------------- -----------------------
September 1, 2007 through and         $1,592,424.24
including September 30, 2007
--------------------------------- -----------------------
--------------------------------- -----------------------
October 1, 2007 through and           $1,492,424.24
including October 31, 2007
--------------------------------- -----------------------
--------------------------------- -----------------------
November 1, 2007 through and          $1,392,424.24
including November 30, 2007
--------------------------------- -----------------------
--------------------------------- -----------------------
December 1, 2007 through and          $1,292,424.24"
including December 30, 2007
--------------------------------- -----------------------
--------------------------------- -----------------------
December 31, 2007                           $
                                            0
--------------------------------- -----------------------

and (ii) deleting the amount "$3,500,000" appearing in the last sentence of the
first paragraph of the Overadvance Side Letter and inserting the amount
"$3,650,000" in lieu thereof.

AMENDMENTS TO THE JUNE 2005 WARRANT, THE JUNE 2005 OPTION, THE JAN 2006 WARRANT,
THE JUNE 2006 WARRANT AND THE NOV 2006 WARRANT

         8. Effective upon the Waiver Effective Date (as defined below), each of
the June 2005 Warrant, the Jan 2006 Warrant, the June 2006 Warrant and the Nov
2006 Warrant are each hereby amended by deleting Section 10 appearing therein in
its entirety and inserting the following new Section 10 in lieu thereof each
case:

                                      -4-
<PAGE>

         "10. MAXIMUM EXERCISE. Notwithstanding anything herein to the contrary,
         in no event shall the Holder be entitled to exercise any portion of
         this Warrant in excess of that portion of this Warrant upon exercise of
         which the sum of (1) the number of shares of Common Stock beneficially
         owned by the Holder and its Affiliates (other than shares of Common
         Stock which may be deemed beneficially owned through the ownership of
         the unexercised portion of the Warrant or the unexercised or
         unconverted portion of any other security of the Holder subject to a
         limitation on conversion analogous to the limitations contained herein)
         and (2) the number of shares of Common Stock issuable upon the exercise
         of the portion of this Warrant with respect to which the determination
         of this proviso is being made, would result in beneficial ownership by
         the Holder and its Affiliates of any amount greater than 9.99% of the
         then outstanding shares of Common Stock (whether or not, at the time of
         such exercise, the Holder and its Affiliates beneficially own more than
         9.99% of the then outstanding shares of Common Stock). As used herein,
         the term "Affiliate" means any person or entity that, directly or
         indirectly through one or more intermediaries, controls or is
         controlled by or is under common control with a person or entity, as
         such terms are used in and construed under Rule 144 under the
         Securities Act. For purposes of the second preceding sentence,
         beneficial ownership shall be determined in accordance with Section
         13(d) of the Securities Exchange Act of 1934, as amended, and
         Regulations 13D-G thereunder, except as otherwise provided in clause
         (1) of such sentence. For any reason at any time, upon written or oral
         request of the Holder, the Company shall within one (1) business day
         confirm orally and in writing to the Holder the number of shares of
         Common Stock outstanding as of any given date. The limitations set
         forth herein (x) may be waived by the Holder upon provision of no less
         than sixty-one (61) days prior written notice to the Company and (y)
         shall automatically become null and void following notice to the
         Company upon the occurrence and during the continuance of an Event of
         Default (as defined in the Security Agreement dated as of the date
         hereof among the Holder, the Company and various subsidiaries of the
         Company)."

         9. Effective upon the Waiver Effective Date (as defined below), the
June 2005 Option is hereby amended by deleting Section 1.1 appearing therein in
its entirety and inserting the following new Section 1.1 in lieu thereof:

         "1.1. NUMBER OF SHARES ISSUABLE UPON EXERCISE. From and after the date
         hereof, the Holder shall be entitled to receive, upon exercise of this
         Option in whole or in part, by delivery of an original or fax copy of
         an exercise notice in the form attached hereto as Exhibit A (the
         "Exercise Notice"), shares of Common Stock of the Company, subject to
         adjustment pursuant to Section 4. Notwithstanding anything herein to
         the contrary, in no event shall the Holder be entitled to exercise any
         portion of this Option in excess of that portion of this Option upon
         exercise of which the sum of (1) the number of shares of Common Stock
         beneficially owned by the Holder and its Affiliates (other than shares
         of Common Stock which may be deemed beneficially owned through the
         ownership of the unexercised portion of the Option or the unexercised
         or unconverted portion of any other security of the Holder subject to a
         limitation on conversion analogous to the limitations contained herein)
         and (2) the number of shares of Common Stock issuable upon the exercise
         of the portion of this Option with respect to which the determination
         of this proviso is being made, would result in beneficial ownership by
         the Holder and its Affiliates of any amount greater than 9.99% of the
         then outstanding shares of Common Stock (whether or not, at the time of
         such exercise, the Holder and its Affiliates beneficially own more than
         9.99% of the then outstanding shares of Common Stock). As used herein,

                                      -5-
<PAGE>

         the term "Affiliate" means any person or entity that, directly or
         indirectly through one or more intermediaries, controls or is
         controlled by or is under common control with a person or entity, as
         such terms are used in and construed under Rule 144 under the
         Securities Act. For purposes of the second preceding sentence,
         beneficial ownership shall be determined in accordance with Section
         13(d) of the Securities Exchange Act of 1934, as amended, and
         Regulations 13D-G thereunder, except as otherwise provided in clause
         (1) of such sentence. For any reason at any time, upon written or oral
         request of the Holder, the Company shall within one (1) business day
         confirm orally and in writing to the Holder the number of shares of
         Common Stock outstanding as of any given date. The limitations set
         forth herein (x) may be waived by the Holder upon provision of no less
         than sixty-one (61) days prior written notice to the Company and (y)
         shall automatically become null and void following notice to the
         Company upon the occurrence and during the continuance of an Event of
         Default (as defined in the Security Agreement dated as of the date
         hereof among the Holder, the Company and various subsidiaries of the
         Company)."

         10. The June 2005 Option and the June 2006 Warrant are each hereby
amended by, deleting the amount "$0.0001" appearing in the definition of
"Exercise Price" appearing therein and, in each case, inserting the amount
"$0.01" in lieu thereof.

         11. The Parent and Laurus agree that, upon execution of this Amendment
by the Parent and Laurus, the Parent will be deemed to have received notice from
Laurus of Laurus' waiver of the 4.99% conversion limitation set forth in (i)
Section 10 of each of the June 2005 Warrant, the Jan 2006 Warrant, the June 2006
Warrant and the Nov 2006 Warrant and (ii) Section 1.1 of the June 2005 Option,
which waiver shall become effective on the 75th day following the date hereof
(the "WAIVER EFFECTIVE DATE").

ADDITIONAL WARRANT

         12. The Parent will, on the date hereof, issue a common stock purchase
warrant (the "ADDITIONAL WARRANT") to Laurus to purchase 2,426,870 shares of the
Common Stock of the Parent with an exercise price of $0.01 per share, such
Additional Warrant to be in the form attached hereto as EXHIBIT A. The Parent
further agrees to file a Registration Statement (as defined in the Registration
Rights Agreement), to register the shares of Common Stock that may be issued
upon exercise of the Additional Warrant on or prior to the 90th day following
the date hereof (the "FILING DATE"). For the avoidance of doubt, the "Filing
Date" shall be deemed a Filing Date as defined in the Registration Rights
Agreement.

                                      -6-
<PAGE>

LCM FEE

         13. Upon execution of this Agreement by each Company and Laurus, the
Companies shall jointly and severally pay to Laurus Capital Management, LLC, the
investment advisor of Laurus ("LCM"), a non-refundable payment in an amount
equal to $5,250. The foregoing payment is referred to herein as the "ADDITIONAL
LCM PAYMENT."

MISCELLANEOUS

         14. This Amendment shall be effective as of the date first above
written (the "AMENDMENT EFFECTIVE DATE") on the date when (i) each of the
Companies and Laurus shall have duly executed and each of the Companies shall
have delivered to Laurus their respective counterparts to this Amendment, (ii)
the Parent shall have duly executed and delivered to Laurus the Additional
Warrant, and (iii) each of the Companies and Laurus shall have duly executed and
each of the Companies shall have delivered to Laurus their respective
counterparts to the Reaffirmation and Ratification Agreement in the form
attached hereto as EXHIBIT B.

         15. Except as specifically set forth in this Amendment, there are no
other amendments, modifications or waivers to the Loan Documents, and all of the
other forms, terms and provisions of the Loan Documents remain in full force and
effect.

         16. The Parent and, to the extent applicable, each of the other
Companies hereby represent and warrant to Laurus that (i) no Event of Default
exists on the date hereof, (ii) on the date hereof, all representations,
warranties and covenants made by the Parent and/or such other Companies, as
applicable, in connection with the Loan Documents are true, correct and complete
and (iii) on the date hereof, all of the Parent's, the other Companies' and
their respective Subsidiaries' covenant requirements have been met.

         17. From and after the Amendment Effective Date, all references in the
Loan Documents, the other Ancillary Agreements to any Loan Document shall be
deemed to be a reference to such Loan Document as modified hereby.

         18. This Amendment shall be binding upon the parties hereto and their
respective successors and permitted assigns and shall inure to the benefit of
and be enforceable by each of the parties hereto and its successors and
permitted assigns. THIS AMENDMENT SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE
WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK. This Amendment may be
executed in any number of counterparts, each of which shall be an original, but
all of which shall constitute one instrument.

                                     * * * *

                                      -7-
<PAGE>

         IN WITNESS WHEREOF, each of the Companies and Laurus have caused this
Amendment to be effective and signed in its name effective as of the date set
forth above.

                                      THINKPATH INC., AN ONTARIO CORPORATION

                                      By:
                                         ---------------------------------------

                                       By:      /s/ AUTHORIZED SIGNATORY
                                                ------------------------
                                       Name:    Authorized Signatory

                                      THINKPATH INC., AN OHIO CORPORATION

                                      By:
                                         ---------------------------------------

                                      By:      /s/ AUTHORIZED SIGNATORY
                                               ------------------------
                                      Name:    Authorized Signatory

                                      THINKPATH OF MICHIGAN INC.,
                                      A MICHIGAN CORPORATION

                                      By:
                                         ---------------------------------------

                                      By:      /s/ AUTHORIZED SIGNATORY
                                               ------------------------
                                      Name:    Authorized Signatory

                                      THINKPATH TECHNICAL SERVICES INC.,
                                      AN OHIO CORPORATION

                                      By:
                                         ---------------------------------------

                                      By:      /s/ AUTHORIZED SIGNATORY
                                               ------------------------
                                      Name:    Authorized Signatory

                                      LAURUS MASTER FUND, LTD.

                                      By:
                                         ---------------------------------------

                                      Name:     /S/ EUGENE GRIN
                                      Title:    Director

                                      -8-
<PAGE>

         EXHIBIT A

         FORM OF ADDITIONAL WARRANT

                                      -9-
<PAGE>

         EXHIBIT B

         FORM OF REAFFIRMATION AND RATIFICATION AGREEMENT

                                      -10-THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF
         THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
         AS AMENDED, OR ANY STATE SECURITIES LAWS. THIS WARRANT AND THE COMMON
         STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT MAY NOT BE SOLD, OFFERED
         FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE
         REGISTRATION STATEMENT AS TO THIS WARRANT UNDER SAID ACT AND ANY
         APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL REASONABLY
         SATISFACTORY TO THINKPATH INC. THAT SUCH REGISTRATION IS NOT REQUIRED.

           Right to Purchase up to 2,426,870 Shares of Common Stock of
                                 Thinkpath Inc.
                   (subject to adjustment as provided herein)

                          COMMON STOCK PURCHASE WARRANT

No. _________________                             Issue Date:  February 28, 2007

         THINKPATH INC., an Ontario corporation (the "Company"), hereby
certifies that, for value received, LAURUS MASTER FUND, LTD., or assigns (the
"Holder"), is entitled, subject to the terms set forth below, to purchase from
the Company (as defined herein) from and after the Issue Date of this Warrant
and at any time thereafter, up to 2,426,870 fully paid and nonassessable shares
of Common Stock (as hereinafter defined), no par value per share, at the
applicable Exercise Price per share (as defined below). The number and character
of such shares of Common Stock and the applicable Exercise Price per share are
subject to adjustment as provided herein.

         As used herein the following terms, unless the context otherwise
requires, have the following respective meanings:

                  (a) The term "Company" shall include Thinkpath Inc. and any
         person or entity which shall succeed, or assume the obligations of,
         Thinkpath Inc. hereunder.

                  (b) The term "Common Stock" includes (i) the Company's Common
         Stock, no par value per share; and (ii) any other securities into which
         or for which any of the securities described in the preceding clause
         (i) may be converted or exchanged pursuant to a plan of
         recapitalization, reorganization, merger, sale of assets or otherwise.

                  (c) The term "Other Securities" refers to any stock (other
         than Common Stock) and other securities of the Company or any other
         person (corporate or otherwise) which the holder of the Warrant at any
         time shall be entitled to receive, or shall have received, on the
         exercise of the Warrant, in lieu of or in addition to Common Stock, or
         which at any time shall be issuable or shall have been issued in
         exchange for or in replacement of Common Stock or Other Securities
         pursuant to Section 4 or otherwise.

<PAGE>

                  (d) The "Exercise Price" applicable under this Warrant shall
         be a price of $0.01 per share.

         1. EXERCISE OF WARRANT.

                  1.1 NUMBER OF SHARES ISSUABLE UPON EXERCISE. From and after
the date hereof, the Holder shall be entitled to receive, upon exercise of this
Warrant in whole or in part, by delivery of an original or fax copy of an
exercise notice in the form attached hereto as Exhibit A (the "Exercise
Notice"), shares of Common Stock of the Company, subject to adjustment pursuant
to Section 4.

                  1.2 FAIR MARKET VALUE. For purposes hereof, the "Fair Market
Value" of a share of Common Stock as of a particular date (the "Determination
Date") shall mean:

                  (a) If the Company's Common Stock is traded on the American
         Stock Exchange or another national exchange or is quoted on the
         National or Capital Market of The Nasdaq Stock Market, Inc. ("Nasdaq"),
         then the closing or last sale price, respectively, reported for the
         last business day immediately preceding the Determination Date.

                  (b) If the Company's Common Stock is not traded on the
         American Stock Exchange or another national exchange or on the Nasdaq
         but is traded on the NASD Over The Counter Bulletin Board, then the
         mean of the average of the closing bid and asked prices reported for
         the last business day immediately preceding the Determination Date.

                  (c) Except as provided in clause

                  (d) below, if the Company's Common Stock is not publicly
         traded, then as the Holder and the Company agree or in the absence of
         agreement by arbitration in accordance with the rules then in effect of
         the American Arbitration Association, before a single arbitrator to be
         chosen from a panel of persons qualified by education and training to
         pass on the matter to be decided. (d) If the Determination Date is the
         date of a liquidation, dissolution or winding up, or any event deemed
         to be a liquidation, dissolution or winding up pursuant to the
         Company's charter, then all amounts to be payable per share to holders
         of the Common Stock pursuant to the charter in the event of such
         liquidation, dissolution or winding up, plus all other amounts to be
         payable per share in respect of the Common Stock in liquidation under
         the charter, assuming for the purposes of this clause (d) that all of
         the shares of Common Stock then issuable upon exercise of the Warrant
         are outstanding at the Determination Date.

                  1.3 COMPANY ACKNOWLEDGMENT. The Company will, at the time of
the exercise of this Warrant, upon the request of the holder hereof acknowledge
in writing its continuing obligation to afford to such holder any rights to
which such holder shall continue to be entitled after such exercise in
accordance with the provisions of this Warrant. If the holder shall fail to make
any such request, such failure shall not affect the continuing obligation of the
Company to afford to such holder any such rights.

                                      -2-
<PAGE>

                  1.4 TRUSTEE FOR WARRANT HOLDERS. In the event that a bank or
trust company shall have been appointed as trustee for the holders of this
Warrant pursuant to Subsection 3.2, such bank or trust company shall have all
the powers and duties of a warrant agent (as hereinafter described) and shall
accept, in its own name for the account of the Company or such successor person
as may be entitled thereto, all amounts otherwise payable to the Company or such
successor, as the case may be, on exercise of this Warrant pursuant to this
Section 1.

         2. PROCEDURE FOR EXERCISE.

                  2.1 DELIVERY OF STOCK CERTIFICATES, ETC., ON EXERCISE. The
Company agrees that the shares of Common Stock purchased upon exercise of this
Warrant shall be deemed to be issued to the Holder as the record owner of such
shares as of the close of business on the date on which this Warrant shall have
been surrendered and payment made for such shares in accordance herewith. As
soon as practicable after the exercise of this Warrant in full or in part, and
in any event within three (3) business days thereafter, the Company at its
expense (including the payment by it of any applicable issue taxes) will cause
to be issued in the name of and delivered to the Holder, or as such Holder (upon
payment by such Holder of any applicable transfer taxes) may direct in
compliance with applicable securities laws, a certificate or certificates for
the number of duly and validly issued, fully paid and nonassessable shares of
Common Stock (or Other Securities) to which such Holder shall be entitled on
such exercise, plus, in lieu of any fractional share to which such holder would
otherwise be entitled, cash equal to such fraction multiplied by the then Fair
Market Value of one full share, together with any other stock or other
securities and property (including cash, where applicable) to which such Holder
is entitled upon such exercise pursuant to Section 1 or otherwise.

                  2.2 EXERCISE.

                  (a) Payment may be made either (i) in cash by wire transfer of
         immediately available funds or by certified or official bank check
         payable to the order of the Company equal to the applicable aggregate
         Exercise Price, (ii) by delivery of this Warrant, or shares of Common
         Stock and/or Common Stock receivable upon exercise of this Warrant in
         accordance with the formula set forth in subsection (b) below, or (iii)
         by a combination of any of the foregoing methods, for the number of
         Common Shares specified in such Exercise Notice (as such exercise
         number shall be adjusted to reflect any adjustment in the total number
         of shares of Common Stock issuable to the Holder per the terms of this
         Warrant) and the Holder shall thereupon be entitled to receive the
         number of duly authorized, validly issued, fully-paid and
         non-assessable shares of Common Stock (or Other Securities) determined
         as provided herein.

                  (b) Notwithstanding any provisions herein to the contrary, if
         the Fair Market Value of one share of Common Stock is greater than the
         Exercise Price (at the date of calculation as set forth below), in lieu
         of exercising this Warrant for cash, the Holder may elect to receive
         shares equal to the value (as determined below) of this Warrant (or the
         portion thereof being exercised) by surrender of this Warrant at the
         principal office of the Company together with the properly endorsed
         Exercise Notice in which event the Company shall issue to the Holder a
         number of shares of Common Stock computed using the following formula:

                                      -3-
<PAGE>

         X=                _Y(A-B)_
                            -------
                                A

         Where X =         the number of shares of Common Stock to be issued to
                           the Holder

         Y =               the number of shares of Common Stock purchasable
                           under this Warrant or, if only a portion of this
                           Warrant is being exercised, the portion of this
                           Warrant being exercised (at the date of such
                           calculation)

         A =               the Fair Market  Value of one share of the  Company's
                           Common Stock (at the date of such calculation)

         B =               the Exercise Price per share (as adjusted to the date
                           of such calculation)

         3. EFFECT OF REORGANIZATION, ETC.; ADJUSTMENT OF EXERCISE PRICE.

                  3.1 REORGANIZATION, CONSOLIDATION, MERGER, ETC. In case at any
time or from time to time, the Company shall (a) effect a reorganization, (b)
consolidate with or merge into any other person, or (c) transfer all or
substantially all of its properties or assets to any other person under any plan
or arrangement contemplating the dissolution of the Company, then, in each such
case, as a condition to the consummation of such a transaction, proper and
adequate provision shall be made by the Company whereby the Holder, on the
exercise hereof as provided in Section 1 at any time after the consummation of
such reorganization, consolidation or merger or the effective date of such
dissolution, as the case may be, shall receive, in lieu of the Common Stock (or
Other Securities) issuable on such exercise prior to such consummation or such
effective date, the stock and other securities and property (including cash) to
which such Holder would have been entitled upon such consummation or in
connection with such dissolution, as the case may be, if such Holder had so
exercised this Warrant, immediately prior thereto, all subject to further
adjustment thereafter as provided in Section 4.

                  3.2 DISSOLUTION. In the event of any dissolution of the
Company following the transfer of all or substantially all of its properties or
assets, the Company, concurrently with any distributions made to holders of its
Common Stock, shall at its expense deliver or cause to be delivered to the
Holder the stock and other securities and property (including cash, where
applicable) receivable by the Holder pursuant to Section 3.1, or, if the Holder
shall so instruct the Company, to a bank or trust company specified by the
Holder and having its principal office in New York, NY as trustee for the
Holder.

                  3.3 CONTINUATION OF TERMS. Upon any reorganization,
consolidation, merger or transfer (and any dissolution following any transfer)
referred to in this Section 3, this Warrant shall continue in full force and
effect and the terms hereof shall be applicable to the shares of stock and other
securities and property receivable on the exercise of this Warrant after the
consummation of such reorganization, consolidation or merger or the effective
date of dissolution following any such transfer, as the case may be, and shall
be binding upon the issuer of any such stock or other securities, including, in
the case of any such transfer, the person acquiring all or substantially all of
the properties or assets of the Company, whether or not such person shall have
expressly assumed the terms of this Warrant as provided in Section 4. In the
event this Warrant does not continue in full force and effect after the
consummation of the transactions described in this Section 3, then the Company's
securities and property (including cash, where applicable) receivable by the
Holder will be delivered to the Holder or the Trustee as contemplated by Section
3.2.

                                      -4-
<PAGE>

         4. EXTRAORDINARY EVENTS REGARDING COMMON STOCK. In the event that the
Company shall (a) issue additional shares of the Common Stock as a dividend or
other distribution on outstanding Common Stock or any preferred stock issued by
the Company, (b) subdivide its outstanding shares of Common Stock, (c) combine
its outstanding shares of the Common Stock into a smaller number of shares of
the Common Stock, then, in each such event, the Exercise Price shall,
simultaneously with the happening of such event, be adjusted by multiplying the
then Exercise Price by a fraction, the numerator of which shall be the number of
shares of Common Stock outstanding immediately prior to such event and the
denominator of which shall be the number of shares of Common Stock outstanding
immediately after such event, and the product so obtained shall thereafter be
the Exercise Price then in effect. The Exercise Price, as so adjusted, shall be
readjusted in the same manner upon the happening of any successive event or
events described herein in this Section 4. The number of shares of Common Stock
that the holder shall thereafter, on the exercise hereof as provided in Section
1, be entitled to receive shall be adjusted to a number determined by
multiplying the number of shares of Common Stock that would otherwise (but for
the provisions of this Section 4) be issuable on such exercise by a fraction of
which (a) the numerator is the Exercise Price that would otherwise (but for the
provisions of this Section 4) be in effect, and (b) the denominator is the
Exercise Price in effect on the date of such exercise (taking into account the
provisions of this Section 4). Notwithstanding the foregoing, in no event shall
the Exercise Price be less than the par value of the Common Stock.

         5. CERTIFICATE AS TO ADJUSTMENTS. In each case of any adjustment or
readjustment in the shares of Common Stock (or Other Securities) issuable on the
exercise of this Warrant, the Company at its expense will promptly cause its
Chief Financial Officer or other appropriate designee to compute such adjustment
or readjustment in accordance with the terms of this Warrant and prepare a
certificate setting forth such adjustment or readjustment and showing in detail
the facts upon which such adjustment or readjustment is based, including a
statement of (a) the consideration received or receivable by the Company for any
additional shares of Common Stock (or Other Securities) issued or sold or deemed
to have been issued or sold, (b) the number of shares of Common Stock (or Other
Securities) outstanding or deemed to be outstanding, and (c) the Exercise Price
and the number of shares of Common Stock to be received upon exercise of this
Warrant, in effect immediately prior to such adjustment or readjustment and as
adjusted or readjusted as provided in this Warrant. The Company will forthwith
mail a copy of each such certificate to the holder and any Warrant agent of the
Company (appointed pursuant to Section 11 hereof).

         6. RESERVATION OF STOCK, ETC., ISSUABLE ON EXERCISE OF WARRANT. The
Company will at all times reserve and keep available, solely for issuance and
delivery on the exercise of this Warrant, shares of Common Stock (or Other
Securities) from time to time issuable on the exercise of this Warrant.

                                      -5-
<PAGE>

         7. ASSIGNMENT; EXCHANGE OF WARRANT. Subject to compliance with
applicable securities laws, this Warrant, and the rights evidenced hereby, may
be transferred by any registered holder hereof (a "Transferor") in whole or in
part. On the surrender for exchange of this Warrant, with the Transferor's
endorsement in the form of Exhibit B attached hereto (the "Transferor
Endorsement Form") and together with evidence reasonably satisfactory to the
Company demonstrating compliance with applicable securities laws, which shall
include, without limitation, a legal opinion from the Transferor's counsel (at
the Company's expense) that such transfer is exempt from the registration
requirements of applicable securities laws, the Company at its expense (but with
payment by the Transferor of any applicable transfer taxes) will issue and
deliver to or on the order of the Transferor thereof a new Warrant of like
tenor, in the name of the Transferor and/or the transferee(s) specified in such
Transferor Endorsement Form (each a "Transferee"), calling in the aggregate on
the face or faces thereof for the number of shares of Common Stock called for on
the face or faces of the Warrant so surrendered by the Transferor.

         8. REPLACEMENT OF WARRANT. On receipt of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of
this Warrant and, in the case of any such loss, theft or destruction of this
Warrant, on delivery of an indemnity agreement or security reasonably
satisfactory in form and amount to the Company or, in the case of any such
mutilation, on surrender and cancellation of this Warrant, the Company at its
expense will execute and deliver, in lieu thereof, a new Warrant of like tenor.

         9. REGISTRATION RIGHTS. The Holder has been granted certain
registration rights by the Company. These registration rights are set forth in a
Registration Rights Agreement entered into by the Company and Holder dated as of
the date hereof, as the same may be amended, modified and/or supplemented from
time to time.

         10. MAXIMUM EXERCISE. Notwithstanding anything herein to the contrary,
in no event shall the Holder be entitled to exercise any portion of this Warrant
in excess of that portion of this Warrant upon exercise of which the sum of (1)
the number of shares of Common Stock beneficially owned by the Holder and its
Affiliates (other than shares of Common Stock which may be deemed beneficially
owned through the ownership of the unexercised portion of the Warrant or the
unexercised or unconverted portion of any other security of the Holder subject
to a limitation on conversion analogous to the limitations contained herein) and
(2) the number of shares of Common Stock issuable upon the exercise of the
portion of this Warrant with respect to which the determination of this proviso
is being made, would result in beneficial ownership by the Holder and its
Affiliates of any amount greater than 9.99% of the then outstanding shares of
Common Stock (whether or not, at the time of such exercise, the Holder and its
Affiliates beneficially own more than 9.99% of the then outstanding shares of
Common Stock). As used herein, the term "Affiliate" means any person or entity
that, directly or indirectly through one or more intermediaries, controls or is
controlled by or is under common control with a person or entity, as such terms
are used in and construed under Rule 144 under the Securities Act. For purposes
of the proviso to the second preceding sentence, beneficial ownership shall be
determined in accordance with Section 13(d) of the Securities Exchange Act of
1934, as amended, and Regulations 13D-G thereunder, except as otherwise provided

                                      -6-
<PAGE>

in clause (1) of such proviso. The limitations set forth herein (x) may be
waived by the Holder upon provision of no less than sixty-one (61) days prior
notice to the Company and (y) shall automatically become null and void following
notice to the Company upon the occurrence and during the continuance of an Event
of Default (as defined in the Security Agreement dated as of June 30, 2006 among
the Holder, the Company and various subsidiaries of the Company (as amended,
modified, restated and/or supplemented from time to time, the "Security
Agreement")).

         11. WARRANT AGENT. The Company may, by written notice to the each
Holder of the Warrant, appoint an agent for the purpose of issuing Common Stock
(or Other Securities) on the exercise of this Warrant pursuant to Section 1,
exchanging this Warrant pursuant to Section 7, and replacing this Warrant
pursuant to Section 8, or any of the foregoing, and thereafter any such
issuance, exchange or replacement, as the case may be, shall be made at such
office by such agent.

         12. TRANSFER ON THE COMPANY'S BOOKS. Until this Warrant is transferred
on the books of the Company, the Company may treat the registered holder hereof
as the absolute owner hereof for all purposes, notwithstanding any notice to the
contrary.

         13. NOTICES, ETC. All notices and other communications from the Company
to the Holder shall be mailed by first class registered or certified mail,
postage prepaid, at such address as may have been furnished to the Company in
writing by such Holder or, until any such Holder furnishes to the Company an
address, then to, and at the address of, the last Holder who has so furnished an
address to the Company.

         14. MISCELLANEOUS. This Warrant and any term hereof may be changed,
waived, discharged or terminated only by an instrument in writing signed by the
party against which enforcement of such change, waiver, discharge or termination
is sought. THIS WARRANT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF
LAWS. ANY ACTION BROUGHT CONCERNING THE TRANSACTIONS CONTEMPLATED BY THIS
WARRANT SHALL BE BROUGHT ONLY IN STATE COURTS OF NEW YORK OR IN THE FEDERAL
COURTS LOCATED IN THE STATE OF NEW YORK; PROVIDED, HOWEVER, THAT THE HOLDER MAY
CHOOSE TO WAIVE THIS PROVISION AND BRING AN ACTION OUTSIDE THE STATE OF NEW
YORK. The individuals executing this Warrant on behalf of the Company agree to
submit to the jurisdiction of such courts and waive trial by jury. The
prevailing party shall be entitled to recover from the other party its
reasonable attorneys' fees and costs. In the event that any provision of this
Warrant is invalid or unenforceable under any applicable statute or rule of law,
then such provision shall be deemed inoperative to the extent that it may
conflict therewith and shall be deemed modified to conform with such statute or
rule of law. Any such provision which may prove invalid or unenforceable under
any law shall not affect the validity or enforceability of any other provision
of this Warrant. The headings in this Warrant are for purposes of reference
only, and shall not limit or otherwise affect any of the terms hereof. The
invalidity or unenforceability of any provision hereof shall in no way affect
the validity or enforceability of any other provision hereof. The Company
acknowledges that legal counsel participated in the preparation of this Warrant
and, therefore, stipulates that the rule of construction that ambiguities are to
be resolved against the drafting party shall not be applied in the
interpretation of this Warrant to favor any party against the other party.

                                      -7-
<PAGE>

         15. JUDGMENT CURRENCY.

                  15.1 If for the purpose of obtaining or enforcing judgment
against the Company in any court in any jurisdiction it becomes necessary to
convert into any other currency (such other currency being hereinafter in this
Section 15 referred to as the "Judgment Currency") an amount due in US dollars
under this Warrant, the conversion shall be made at the Exchange Rate prevailing
on the business day immediately preceding:

                  (a) the date actual payment of the amount due, in the case of
         any proceeding in the courts of New York or in the courts of any other
         jurisdiction that will give effect to such conversion being made on
         such date: or

                  (b) the date on which the foreign court determines, in the
         case of any proceeding in the courts of any other jurisdiction (the
         date as of which such conversion is made pursuant to this Section
         15.1(b) being hereinafter referred to as the "Judgment Conversion
         Date")

                  15.2 If in the case of any proceeding in the court of any
jurisdiction referred to in Section 15.1 above, there is a change in the
Exchange Rate prevailing between the Judgment Conversion Date and the date of
actual payment of the amount due, the applicable party shall pay such adjusted
amount as may be necessary to ensure that the amount paid in the Judgment
Currency, when converted at the Exchange Rate prevailing on the date of payment,
will produce the amount of US dollars which could have been purchased with the
amount of Judgment Currency stipulated in the judgment or judicial order at the
Exchange Rate prevailing on the Judgment Conversion Date.

                  15.3 Any amount due from the Company under this provision
shall be due as a separate debt and shall not be affected by judgment being
obtained for any other amounts due under or in respect of this Warrant.

                   [BALANCE OF PAGE INTENTIONALLY LEFT BLANK;
                             SIGNATURE PAGE FOLLOWS]

                                      -8-
<PAGE>

         IN WITNESS WHEREOF, the Company has executed this Warrant as of the
date first written above.

                                       THINKPATH INC.

WITNESS:
                                       By:      /s/ AUTHORIZED SIGNATORY
                                                ------------------------
                                       Name:    Authorized Signatory
                                       Title:

                                      -9-
<PAGE>

                                    EXHIBIT A

                              FORM OF SUBSCRIPTION
                   (To Be Signed Only On Exercise Of Warrant)

TO:      Thinkpath Inc.
         201 Westcreek Boulevard
         Brampton, Ontario, Canada L6T 5S6

         Attention:        Chief Financial Officer

         The undersigned, pursuant to the provisions set forth in the attached
Warrant (No.____), hereby irrevocably elects to purchase (check applicable box):

________          ________ shares of the common stock covered by such warrant;
                  or

________          the maximum  number of shares of common stock  covered by such
                  warrant pursuant to the cashless exercise procedure set forth
                  in Section 2.

         The undersigned herewith makes payment of the full Exercise Price for
such shares at the price per share provided for in such Warrant, which is
$___________. Such payment takes the form of (check applicable box or boxes):

________          $__________ in lawful money of the United States; and/or

________          the cancellation of such portion of the attached Warrant as is
                  exercisable for a total of _______ shares of Common Stock
                  (using a Fair Market Value of $_______ per share for purposes
                  of this calculation); and/or

________          the cancellation of such number of shares of Common Stock as
                  is necessary, in accordance with the formula set forth in
                  Section 2.2, to exercise this Warrant with respect to the
                  maximum number of shares of Common Stock purchasable pursuant
                  to the cashless exercise procedure set forth in Section 2.

         The undersigned requests that the certificates for such shares be
issued in the name of, and delivered to________________________________________
whose address is

---------------------------------------------------------------------------.

         The undersigned represents and warrants that all offers and sales by
the undersigned of the securities issuable upon exercise of the within Warrant
shall be made pursuant to registration of the Common Stock under the Securities
Act of 1933, as amended (the "Securities Act") or pursuant to an exemption from
registration under the Securities Act.

Dated:
      ---------------                 ----------------------
                                      (Signature must conform to name of
                                      holder as specified on the face of the
                                      Warrant)
                                      Address:
                                              ---------------------------------

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

                                      -10-
<PAGE>

                                    EXHIBIT B

                         FORM OF TRANSFEROR ENDORSEMENT
                   (To Be Signed Only On Transfer Of Warrant)

         For value received, the undersigned hereby sells, assigns, and
transfers unto the person(s) named below under the heading "Transferees" the
right represented by the within Warrant to purchase the percentage and number of
shares of Common Stock of Thinkpath Inc. into which the within Warrant relates
specified under the headings "Percentage Transferred" and "Number Transferred,"
respectively, opposite the name(s) of such person(s) and appoints each such
person Attorney to transfer its respective right on the books of Thinkpath Inc.
with full power of substitution in the premises.

                                            PERCENTAGE               NUMBER
TRANSFEREES        ADDRESS                 TRANSFERRED            TRANSFERRED

Dated:
      -------------------             ------------------------------------
                                      (Signature must conform to name of
                                      holder as specified on the face of the
                                      Warrant)
                                      Address:
                                               ---------------------------

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

                                      SIGNED IN THE PRESENCE OF:

                                      ---------------------------------------
                                                      (Name)

ACCEPTED AND AGREED:
[TRANSFEREE]

------------------------------
           (Name)

                                      -11-

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