Document:

Exhibit 4.5

                               OMNIBUS INSTRUMENT

                                 WITH REGARD TO

                   HARTFORD LIFE GLOBAL FUNDING TRUST 2007-001

        WHEREAS,  the parties named herein desire to enter into certain Issuance
Documents,  each such  document  dated as of the date  specified in this Omnibus
Instrument  relating  to the  issuance by Hartford  Life  Global  Funding  Trust
2007-001 (the "Trust") of Hartford Life Global  Funding Trust  2007-001 Notes in
the principal amount of  $250,000,000.00  (the "Notes") with the terms specified
in the Pricing Supplement  attached to this Omnibus Instrument as Exhibit A (the
"Pricing Supplement") to investors under Hartford Life's secured notes program;

        WHEREAS,  the Trust will be organized  under and its activities  will be
governed by (i) the provisions of the Trust Agreement (set forth in Section A of
this Omnibus Instrument), dated as of January 11, 2007 (the "Formation Date") by
and between  the parties  thereto  indicated  in Section E herein,  and (ii) the
certificate of trust of the Trust;

        WHEREAS,  the Notes will be issued  pursuant to the Indenture (set forth
in Section B of this  Omnibus  Instrument),  dated as of January  19,  2007 (the
"Issuance  Date"),  by and between the parties  thereto  indicated  in Section E
herein;

        WHEREAS,  the sale of the Notes  will be  governed  by the  Distribution
Agreement (set forth in Section C of this Omnibus  Instrument),  dated as of the
Formation  Date,  by and  between  the parties  thereto  indicated  in Section E
herein; and

        WHEREAS,  certain  agreements  relating  to the  Notes  and the  funding
agreement identified in the Pricing Supplement (the "Funding Agreement") are set
forth in the  Coordination  Agreement  (set forth in  Section D of this  Omnibus
Instrument),  dated as of the Formation  Date, by and among the parties  thereto
indicated in Section E herein.

        All  capitalized  terms used herein and not otherwise  defined will have
the meanings set forth in the Indenture.  This Omnibus Instrument is executed as
of the Formation Date.

        NOW,  THEREFORE,  in consideration of the agreements and obligations set
forth herein and for other good and valuable  consideration,  the sufficiency of
which is hereby acknowledged, each party hereby agrees as set forth herein.

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<PAGE>

                                    SECTION A

                                 TRUST AGREEMENT

        THIS TRUST AGREEMENT, dated as of the Formation Date, is entered into by
and among AMACAR Pacific Corp., a Delaware  corporation,  as  administrator  (in
such  capacity,  the  "Administrator")  and as trust  beneficial  owner (in such
capacity, the "Trust Beneficial Owner") and Wilmington Trust Company, a Delaware
banking corporation, as Delaware trustee (the "Delaware Trustee").

                              W I T N E S S E T H:
                              -------------------

        WHEREAS,  the Trust Beneficial Owner, the Administrator and the Delaware
Trustee desire to establish a statutory trust organized pursuant to the Delaware
Statutory  Trust Act for the purpose of issuing Notes to investors which will be
secured, and payments with respect to which will be funded, solely by the assets
held in the Trust (as defined in this Omnibus Instrument), the proceeds of which
will be used to purchase the Funding Agreement;

        WHEREAS,  the Trust Beneficial Owner, the Administrator and the Delaware
Trustee desire to authorize the issuance of a Trust Beneficial  Interest and the
Notes in connection with the entry into this Trust Agreement and the Indenture;

        WHEREAS,  all things  necessary to make this Trust Agreement a valid and
legally binding  agreement of the Trust Beneficial  Owner, the Administrator and
the Delaware Trustee, enforceable in accordance with its terms, have been done;

        WHEREAS,  the parties intend to provide for, among other things, (i) the
issuance and sale of the Notes  (pursuant to the Indenture and the  Distribution
Agreement) and the Trust  Beneficial  Interest,  (ii) the use of the proceeds of
the sale of the Notes and Trust  Beneficial  Interest  to  acquire  the  Funding
Agreement  and  (iii)  all  other  actions  deemed  necessary  or  desirable  in
connection with the transactions contemplated by this Trust Agreement; and

        WHEREAS,  the parties hereto desire to  incorporate  by reference  those
certain  Standard Trust Agreement Terms dated December 2, 2005, filed as Exhibit
4.7 to the Registration Statement filed by Hartford Life with the Securities and
Exchange  Commission (the "SEC") and declared  effective by the SEC on March 31,
2006 (the  "Standard  Trust  Agreement  Terms")  and all  capitalized  terms not
otherwise defined in this Omnibus Instrument shall have the meaning set forth in
the Standard Trust  Agreement Terms (the Standard Trust Agreement Terms and this
Trust Agreement, collectively, the "Trust Agreement").

        NOW,  THEREFORE,  in consideration of the agreements and obligations set
forth herein and for other good and valuable  consideration,  the sufficiency of
which is hereby acknowledged, each party hereby agrees as follows:

        PART 1. AGREEMENT TO BE BOUND. The Delaware  Trustee,  the Administrator
and the Trust  Beneficial  Owner  each  hereby  agrees to be bound by all of the
terms,  provisions and agreements set forth herein,  with respect to all matters
contemplated  herein,  including,  without  limitation,  those  relating  to the
issuance of the Notes.

        PART 2. INCORPORATION BY REFERENCE. All terms, provisions and agreements
of the Standard Trust Agreement Terms (except to the extent  expressly  modified
herein)  are hereby  incorporated  herein by  reference  with the same force and
effect as though fully set forth herein.  To the extent that the terms set forth
herein are  inconsistent  with the terms of the Standard Trust Agreement  Terms,
the terms set forth herein shall apply.

                   Hartford Life Global Funding Trust 2007-001
                               Omnibus Instrument
                                       2
<PAGE>

        PART 3. NAME.  The Trust  created and  governed by this Trust  Agreement
shall be designated as indicated in this Omnibus Instrument, as such name may be
modified from time to time by the Delaware Trustee  following  written notice to
the Trust Beneficial Owner.

        PART 4. INITIAL CAPITAL CONTRIBUTION AND OWNERSHIP. The Trust Beneficial
Owner has paid to, or to an account at the direction  of, the Delaware  Trustee,
on the date hereof, the sum of $15 (or, if the Trust issues Notes at a discount,
the  product  of $15 and the  issue  price  (expressed  as a  percentage  of the
original   principal  amount  of  the  Notes)).   The  Delaware  Trustee  hereby
acknowledges  receipt in trust from the Trust  Beneficial  Owner, as of the date
hereof,  of the  foregoing  contribution,  which  shall be used  along  with the
proceeds from the sale of the Notes to purchase the Funding Agreement.  Upon the
creation of the Trust and the registration of the Trust  Beneficial  Interest in
the  Securities  Register by the  Registrar  (as defined in the  Standard  Trust
Agreement Terms) in the name of the Trust Beneficial Owner, the Trust Beneficial
Owner shall be the sole beneficial owner of the Trust.

        PART 5.  ACKNOWLEDGMENT.  The Delaware Trustee,  on behalf of the Trust,
expressly  acknowledges  its duties and obligations set forth in Section 2.07 of
the Standard Trust Agreement Terms incorporated herein.

        PART 6. ADDITIONAL TERMS.   None.

        PART 7. OMNIBUS  INSTRUMENT;  EXECUTION AND  INCORPORATION OF TERMS. The
parties  to this  Trust  Agreement  will  enter  into this  Trust  Agreement  by
executing  the Omnibus  Instrument.  By executing  the Omnibus  Instrument,  the
Delaware Trustee,  the Trust Beneficial Owner and the Administrator hereby agree
that this Trust Agreement will constitute a legal,  valid and binding  agreement
between the Delaware  Trustee,  the Trust Beneficial Owner and the Administrator
as of the date  specified in the Omnibus  Instrument.  All terms relating to the
Trust or the Notes not  otherwise  included in this Trust  Agreement  will be as
specified in the Omnibus Instrument or Pricing Supplement as indicated herein.

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                   Hartford Life Global Funding Trust 2007-001
                               Omnibus Instrument
                                       3
<PAGE>

                                    SECTION B

                                    INDENTURE

        THIS  INDENTURE,  dated as of the Issuance  Date, is entered into by and
among The Bank of New York Trust Company, N.A., as indenture trustee, registrar,
transfer agent, paying agent and calculation agent (collectively, the "Indenture
Trustee") and the Trust (as defined in this Omnibus Instrument).

                              W I T N E S S E T H:
                              -------------------

        WHEREAS,  the Trust has duly  authorized  the  execution and delivery of
this  Indenture  to provide  for the  issuance  of the Notes (as defined in this
Omnibus Instrument);

        WHEREAS, all things necessary to make this Indenture a valid and legally
binding  agreement  of the  Trust  and the  other  parties  to  this  Indenture,
enforceable in accordance with its terms, have been done, and the Trust proposes
to do all things  necessary to make the Notes,  when executed and  authenticated
and delivered  pursuant  hereto,  valid and legally  binding  obligations of the
Trust as hereinafter provided; and

        WHEREAS,  the parties hereto desire to  incorporate  by reference  those
certain  Standard  Indenture Terms dated February 27, 2006, filed as Exhibit 4.1
to the  Registration  Statement filed by Hartford Life with the SEC and declared
effective by the SEC on March 31, 2006 (the "Standard  Indenture Terms") and all
capitalized  terms not otherwise  defined in this Omnibus  Instrument shall have
the meaning set forth in the Standard  Indenture  Terms (the Standard  Indenture
Terms and this Indenture, collectively, the "Indenture").

        NOW,  THEREFORE,  in consideration of the agreements and obligations set
forth herein and for other good and valuable  consideration,  the sufficiency of
which is hereby acknowledged, each party hereby agrees as follows:

        PART 1. AGREEMENT TO BE BOUND. The Trust and the Indenture  Trustee each
hereby agrees to be bound by all of the terms,  provisions  and  agreements  set
forth  herein,  with  respect to all  matters  contemplated  herein,  including,
without limitation, those relating to the issuance of the Notes.

        PART 2. INCORPORATION BY REFERENCE. All terms, provisions and agreements
of the Standard Indenture Terms (except to the extent expressly modified herein)
are hereby  incorporated  herein by reference  with the same force and effect as
though fully set forth herein. To the extent that the terms set forth herein are
inconsistent with the terms of the Standard Indenture Terms, the terms set forth
herein shall apply.

        PART 3.  DESIGNATION  OF THE NOTES.  The Notes  issued  pursuant to this
Indenture shall be designated as specified in this Omnibus Instrument.

        PART 4.  ADDITIONAL TERMS.  None.

        PART 5. OMNIBUS  INSTRUMENT;  EXECUTION AND  INCORPORATION OF TERMS. The
parties to this  Indenture  will  enter into this  Indenture  by  executing  the
Omnibus  Instrument.  By  executing  the Omnibus  Instrument,  the Trust and the
Indenture  Trustee  hereby agree that this  Indenture  will  constitute a legal,
valid and binding  agreement  between the Trust and the Indenture  Trustee as of
the date specified in the Omnibus Instrument. All terms relating to the Trust or
the Notes not otherwise  included in this  Indenture will be as specified in the
Omnibus Instrument or Pricing Supplement as indicated herein.

                   Hartford Life Global Funding Trust 2007-001
                               Omnibus Instrument
                                       4
<PAGE>

                                    SECTION C

                             DISTRIBUTION AGREEMENT

        THIS DISTRIBUTION AGREEMENT,  dated as of the Formation Date, is entered
into by and among each Agent  specified in the Pricing  Supplement  as Agent(s),
(each an "Agent"),  Hartford Life  Insurance  Company,  a Connecticut  insurance
company ("Hartford Life") and the Trust (as defined in this Omnibus Instrument).

                              W I T N E S S E T H:
                              -------------------

        WHEREAS,  the  Trust has  entered  into the  Indenture,  dated as of the
Issuance  Date by and between the Trust and The Bank of New York Trust  Company,
N.A., as indenture trustee (the "Indenture Trustee") to provide for the issuance
by the Trust of the Notes (as defined in this Omnibus Instrument);

        WHEREAS,  all things  necessary  to make this  Distribution  Agreement a
valid and legally  binding  agreement of the Trust and the other parties to this
Distribution  Agreement,  enforceable  in accordance  with its terms,  have been
done, and the Trust proposes to do all things necessary to make the Notes,  when
executed by the Trust and  authenticated  and delivered  pursuant hereto and the
Indenture,  valid and legally  binding  obligations  of the Trust as hereinafter
provided; and

        WHEREAS,  the parties hereto desire to  incorporate  by reference  those
certain  Standard  Distribution  Agreement Terms dated March 30, 2006,  filed as
Exhibit 1.1 to the  Registration  Statement  filed with the SEC by Hartford Life
and declared effective by the SEC on March 31, 2006 (the "Standard  Distribution
Agreement  Terms")  and all  capitalized  terms not  otherwise  defined  in this
Omnibus Instrument shall have the meaning set forth in the Standard Distribution
Agreement Terms (the Standard Distribution Agreement Terms and this Distribution
Agreement, collectively, the "Distribution Agreement").

        NOW,  THEREFORE,  in consideration of the agreements and obligations set
forth herein and for other good and valuable  consideration,  the sufficiency of
which is hereby acknowledged, each party hereby agrees as follows:

        PART 1. AGREEMENT TO BE BOUND. The Agent(s), Hartford Life and the Trust
each hereby agrees to be bound by all of the terms,  provisions  and  agreements
set forth herein, with respect to all matters  contemplated  herein,  including,
without limitation, those relating to the issuance of the Notes.

        PART 2. INCORPORATION BY REFERENCE. All terms, provisions and agreements
of the Standard  Distribution  Agreement  Terms (except to the extent  expressly
modified herein) are hereby incorporated herein by reference with the same force
and effect as though  fully set forth  herein.  To the extent that the terms set
forth  herein  are  inconsistent  with the  terms of the  Standard  Distribution
Agreement Terms, the terms set forth herein shall apply.

        PART 3.  PURCHASE OF NOTES.  The  Agent(s)  agree to purchase  the Notes
having the terms set forth in the Pricing Supplement for the Notes.

                   Hartford Life Global Funding Trust 2007-001
                               Omnibus Instrument
                                       5
<PAGE>

        PART 4.  DELIVERY OF  OPINIONS.  Pursuant to Sections  5.1, 5.2 and 5.5,
Hartford  Life,  the  Trust  and the  Agent(s)  have  mutually  agreed  that the
opinions,  negative  assurances  and/or  comfort  letter,  if any,  set forth in
Exhibit  B to this  Omnibus  Instrument  are  required  to be  delivered  on the
Issuance Date.

        PART 5.  CERTIFICATION.  The Agent(s)  certify that, as of the Formation
Date  they  have  anti-money  laundering  policies  and  procedures  in place in
accordance  with the  requirements  imposed  by the  Uniting  and  Strengthening
America by  Providing  Appropriate  Tools  Required to  Intercept  and  Obstruct
Terrorism Act of 2001 (USA PATRIOT Act), Pub. L, 107-56,  115 Stat. 380 (October
26, 2001), or any rules or regulations promulgated  thereunder,  and the Foreign
Assets Control Regulations issued by the Office of Foreign Assets Control of the
United  States  Department  of the  Treasury  (31 CFR Part  500),  to the extent
applicable  to each such  Agent.  The  Agent(s)  also  certify  that,  as of the
Formation  Date and as of the  Settlement  Date,  such Agent has  implemented an
anti-money  laundering  compliance  program  pursuant to NASD Rule 3011,  to the
extent applicable to such Initial Purchaser.

        PART 6. TIME OF SALE.  With respect to the Notes,  the "Time of Sale" is
3:00 p.m. (New York City time) on the Formation Date.

        PART 7.  ADDITIONAL TERMS.   Notices to the Agents shall be sent to:

                 J.P. Morgan Securities Inc.
                 270 Park Avenue
                 New York, NY 10017
                 Attn: Medium-Term Note Desk - 8th floor
                 Fax: (212) 834-6081

                 Lehman Brothers Inc.
                 745 Seventh Avenue
                 New York, New York 10019
                 Attn: Debt Capital Markets, Financial Institutions Group

                 With a copy to:

                 Lehman Brothers Inc.
                 745 Seventh Avenue
                 New York, New York 10019
                 Attn: General Counsel

        PART 8. OMNIBUS  INSTRUMENT;  EXECUTION AND  INCORPORATION OF TERMS. The
parties  to this  Distribution  Agreement  will  enter  into  this  Distribution
Agreement  by  executing  the  Omnibus  Instrument.  By  executing  the  Omnibus
Instrument  the  Agents,  Hartford  Life and the Trust  hereby  agree  that this
Distribution  Agreement  will  constitute a legal,  valid and binding  agreement
between the Agents,  Hartford Life and the Trust as of the date specified in the
Omnibus  Instrument.  All terms relating to the Trust or the Notes not otherwise
included in this  Distribution  Agreement  will be as  specified  in the Omnibus
Instrument or Pricing Supplement as indicated herein.

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                   Hartford Life Global Funding Trust 2007-001
                               Omnibus Instrument
                                       6
<PAGE>

                                    SECTION D

                             COORDINATION AGREEMENT

        THIS COORDINATION AGREEMENT,  dated as of the Formation Date, is entered
into by and among  Hartford  Life,  the Trust and the Indenture  Trustee and the
Administrator.

                              W I T N E S S E T H:
                              -------------------

        WHEREAS,  the Trust will enter into the Funding  Agreement with Hartford
Life dated as of the Issuance Date;

        WHEREAS,  the Agent(s) have agreed to sell the Notes in accordance  with
the Registration Statement; and

        WHEREAS,  the Trust  intends to issue the Notes in  accordance  with the
Indenture  and to transfer  the Funding  Agreement to the  Indenture  Trustee in
accordance with the Indenture to secure payment of the Notes.

        NOW,  THEREFORE,  in consideration of the agreements and obligations set
forth herein and for other good and valuable  consideration,  the sufficiency of
which is hereby acknowledged, each party hereby agrees as follows:

        PART  1.  AGREEMENT  TO BE  BOUND.  Hartford  Life,  the  Trust  and the
Indenture Trustee each hereby agrees to be bound by all of the terms, provisions
and  agreements  set forth  herein,  with  respect to all  matters  contemplated
herein,  including,  without  limitation,  those relating to the issuance of the
Notes.

        PART 2. DELIVERY OF THE FUNDING  AGREEMENT.  The Trust hereby authorizes
the  Indenture  Trustee to receive  the Funding  Agreement  from  Hartford  Life
pursuant to the Assignment of the Funding  Agreement (the  "Assignment"),  to be
entered into on the Issuance Date, and included in the closing  instrument dated
as of the Issuance Date (the "Closing Instrument").

        PART 3.  ISSUANCE  AND  PURCHASE  OF THE NOTES.  Delivery of the Funding
Agreement to the  Indenture  Trustee  pursuant to the  Assignment of the Funding
Agreement  shall  be  confirmation  of  payment  by the  Trust  for the  Funding
Agreement.  The Trust hereby directs the Indenture Trustee,  upon receipt of the
Funding Agreement  pursuant to the Assignment,  (a) to authenticate the Notes in
accordance  with the  Indenture and (b) to (i) deliver each relevant Note to the
clearing  system or systems  identified  in each such Note, or to the nominee or
custodian of such clearing  system,  for credit to such accounts as the Agent(s)
may direct,  or (ii) deliver each  relevant  Note to the  purchasers  thereof as
identified by the Agent(s).

        PART 4. DIRECTIONS  REGARDING PERIODIC PAYMENTS.  As registered owner of
the  Funding  Agreement  as  collateral  securing  payments  on the  Notes,  the
Indenture  Trustee will receive  payments on the Funding  Agreement on behalf of
the Trust.  The Trust hereby directs the Indenture  Trustee to use such funds to
make  payments on behalf of the Trust  pursuant to the Trust  Agreement  and the
Indenture.

        PART 5.  MATURITY OF THE  FUNDING  AGREEMENT.  Upon the  maturity of the
Funding Agreement and the return of funds  thereunder,  the Trust hereby directs
the Indenture  Trustee to set aside from such funds an amount sufficient for the
repayment of the outstanding principal on the Notes when due.

        PART  6.   ACKNOWLEDGEMENT   OF  PRIOR  AGREEMENTS.   The  Trust  hereby
acknowledges,  agrees  to and  become  a party  to  each  of the  Administrative
Services  Agreement,  the  License  Agreement,  and the  Expense  and  Indemnity
Agreement related to the Delaware Trustee. The Administrator hereby acknowledges
the formation of the Trust and affirms its  obligations  to provide  services to
the Trust as set forth in the Administrative Services Agreement.

                   Hartford Life Global Funding Trust 2007-001
                               Omnibus Instrument
                                       7
<PAGE>

        PART 7.  CERTIFICATES.  Hartford Life and the Trust each hereby agree to
deliver, on a quarterly basis, such certificate(s) as are required by any rating
agency then rating the Program.

        PART 8. NO ADDITIONAL LIABILITY.  Nothing in this agreement shall impose
any liability or  obligation on the part of any party to this  agreement to make
any payment or  disbursement  in addition to any  liability or  obligation  such
party has under the Issuance  Documents or any other  agreements  related to the
Program,  except to the extent that a party has actually received funds which it
is obligated to disburse pursuant to this agreement.

        PART 9. NO CONFLICT.  This  Coordination  Agreement is intended to be in
furtherance of the agreements reflected in the documents related to the Issuance
Documents,  and  not  in  conflict.  To the  extent  that a  provision  of  this
Coordination  Agreement  conflicts  with the  provisions of one or more Issuance
Documents, the provisions of such documents shall govern.

        PART  10.  GOVERNING  LAW.  This  agreement  shall  be  governed  by and
construed in accordance with the laws of the State of New York without regard to
the principles of conflicts of laws thereof.

        PART 11.  SEVERABILITY.  If any  provision  in this  agreement  shall be
invalid,  illegal or  unenforceable,  such provisions  shall be deemed severable
from the remaining  provisions of this  agreement and shall in no way affect the
validity or enforceability of such other provisions of this agreement.

        PART 12. OMNIBUS  INSTRUMENT;  EXECUTION AND INCORPORATION OF TERMS. The
parties  to this  Coordination  Agreement  will  enter  into  this  Coordination
Agreement  by  executing  the  Omnibus  Instrument.  By  executing  the  Omnibus
Instrument,  each party  hereto  agrees that this  Coordination  Agreement  will
constitute a legal,  valid and binding agreement by and among Hartford Life, the
Trust and the Indenture  Trustee as of the Issuance  Date. All terms relating to
the Trust or the Notes not  otherwise  included in this  Coordination  Agreement
will  be as  specified  in the  Omnibus  Instrument  or  Pricing  Supplement  as
indicated in the Omnibus Instrument.

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                   Hartford Life Global Funding Trust 2007-001
                               Omnibus Instrument
                                       8
<PAGE>

                                    SECTION E

                        MISCELLANEOUS AND EXECUTION PAGES

        Notwithstanding  any other  provisions  of this Omnibus  Instrument,  no
amendment to this Omnibus  Instrument may be made if such amendment  would cause
the Trust not to be  disregarded  or treated as a grantor  trust  (assuming  the
Trust were not disregarded) for U.S. federal income tax purposes.

        This Omnibus Instrument may be executed by each of the parties hereto in
any  number of  counterparts,  and by each of the  parties  hereto  on  separate
counterparts,  each of which counterparts, when so executed and delivered, shall
be deemed to be an original, but all such counterparts shall together constitute
but one and the same instrument.  Facsimile  signatures shall be deemed original
signatures.

        Each signatory,  by its execution hereof,  does hereby become a party to
each of the  agreements  identified  for such party as of the date  specified in
such agreements.

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                   Hartford Life Global Funding Trust 2007-001
                               Omnibus Instrument
                                       9
<PAGE>

IN WITNESS WHEREOF, the undersigned have executed this Omnibus Instrument.

                                   HARTFORD LIFE INSURANCE COMPANY (in executing
                                   below  agrees and  becomes a party to (i) the
                                   Distribution Agreement set forth in Section C
                                   herein,  and (ii) the Coordination  Agreement
                                   set forth in Section D herein).

                                   By: /s/ Jeffrey L. Johnson
                                      ------------------------------------------
                                       Name:  Jeffrey L. Johnson
                                       Title: Assistant Vice President, IIP

                   Hartford Life Global Funding Trust 2007-001
                               Omnibus Instrument
                                       10
<PAGE>

        IN  WITNESS   WHEREOF,   the  undersigned  have  executed  this  Omnibus
Instrument.

                                   HARTFORD LIFE GLOBAL  FUNDING TRUST  2007-001
                                   in executing below agrees and becomes a party
                                   to (i) the  Indenture  set forth in Section B
                                   herein,  (ii) the Distribution  Agreement set
                                   forth in  Section  C  herein  and  (iii)  the
                                   Coordination Agreement set forth in Section D
                                   herein).

                                   By:  Wilmington  Trust  Company,  not  in its
                                   individual  capacity  but solely as  Delaware
                                   Trustee

                                   By:  /s/ Jeanne M. Oller
                                       -----------------------------------------
                                        Name: Jeanne M. Oller
                                        Title: Senior Financial Services Officer

                                   WILMINGTON TRUST COMPANY,  in executing below
                                   agrees  and  becomes  a  party  to the  Trust
                                   Agreement set forth in Section A herein,  not
                                   in its  individual  capacity  but  solely  as
                                   Delaware Trustee.

                                   By: /s/ Jeanne M. Oller
                                      ------------------------------------------
                                       Name:  Jeanne M. Oller
                                       Title:  Senior Financial Services Officer

                   Hartford Life Global Funding Trust 2007-001
                               Omnibus Instrument
                                       11
<PAGE>

IN WITNESS WHEREOF, the undersigned have executed this Omnibus Instrument.

                                   AMACAR  PACIFIC  CORP.  in  executing   below
                                   agrees  and  becomes a party to (i) the Trust
                                   Agreement  set  forth in  Section A herein in
                                   its  capacity as Trust  Beneficial  Owner and
                                   Administrator   and  (ii)  the   Coordination
                                   Agreement  set  forth in  Section D herein in
                                   its capacity as Administrator.

                                   By: /s/ Evelyn Echevarria
                                       -----------------------------------------
                                        Name:  Evelyn Echevarria
                                        Title: Vice President

                   Hartford Life Global Funding Trust 2007-001
                               Omnibus Instrument
                                       12
<PAGE>

IN WITNESS WHEREOF, the undersigned have executed this Omnibus Instrument.

                                   THE BANK OF NEW YORK TRUST COMPANY,  N.A., in
                                   executing below agrees and becomes a party to
                                   (i) the  Indenture  set  forth in  Section  B
                                   herein in its capacity as Indenture  Trustee,
                                   Registrar,  Transfer Agent,  Paying Agent and
                                   Calculation  Agent, and (ii) the Coordination
                                   Agreement,  set forth in  Section D herein in
                                   its capacity as Indenture Trustee.

                                   By: /s/ R. Tarnas
                                      ------------------------------------------
                                        Name:  R. Tarnas
                                        Title: Vice President

                   Hartford Life Global Funding Trust 2007-001
                               Omnibus Instrument
                                       13
<PAGE>

IN WITNESS WHEREOF, the undersigned have executed this Omnibus Instrument.

                                   J.P.  MORGAN  SECURITIES  INC.,  in executing
                                   below  agrees  and  becomes  a  party  to the
                                   Distribution Agreement set forth in Section C
                                   herein.

                                   By: /s/ Robert Bottamedi
                                      ------------------------------------------
                                       Name:   ROBERT BOTTAMEDI
                                       Title:  VICE PRESIDENT

                   Hartford Life Global Funding Trust 2007-001
                               Omnibus Instrument
                                       14
<PAGE>

IN WITNESS WHEREOF, the undersigned have executed this Omnibus Instrument.

                                   LEHMAN  BROTHERS  INC.,  in  executing  below
                                   agrees   and   becomes   a   party   to   the
                                   Distribution Agreement set forth in Section C
                                   herein.

                                   By: /s/ Martin Goldberg
                                      ------------------------------------------
                                        Name:  MARTIN GOLDBERG
                                        Title: SENIOR VICE PRESIDENT

                   Hartford Life Global Funding Trust 2007-001
                               Omnibus Instrument
                                       15
<PAGE>

                                    EXHIBIT A

                               PRICING SUPPLEMENT

Pricing Supplement No. 61                       Filed pursuant to Rule 424(b)(5)
dated January 12, 2007.                                      File No. 333-130089
(To Prospectus dated April 12, 2006,
and Prospectus Supplement dated
April 12, 2006)
This Pricing Supplement consists of 3 pages.

                         HARTFORD LIFE INSURANCE COMPANY
                                    DEPOSITOR

                            SECURED MEDIUM-TERM NOTES
                                 ISSUED THROUGH

                   HARTFORD LIFE GLOBAL FUNDING TRUST 2007-001

                    FLOATING RATE NOTES DUE JANUARY 17, 2012

The  description in this Pricing  Supplement is of the  particular  terms of the
Secured  Medium-Term  Notes  offered  hereby and the Funding  Agreement  sold by
Hartford Life Insurance  Company to the Trust specified  herein  supplements the
description  of the general  terms and  provisions  of the Notes and the Funding
Agreements set forth in the accompanying  Prospectus and Prospectus  Supplement,
to which reference is hereby made.

<TABLE>
<CAPTION>
                                                   PROVISIONS RELATING TO THE NOTES

<S>                            <C>                                     <C>
Principal Amount:              $250,000,000.00                         Type of Interest Rate:  [ ] Fixed  [X] FLOATING

Price to Public:               100%                                    If Fixed Rate Notes:  N/A
                                                                             Interest Rate:  N/A
Net Proceeds to Trust:         $249,937,500.00
                                                                       If Floating Rate Notes:
CUSIP Number:                  41659EFK8                                    Initial Interest Rate: THE INITIAL INTEREST RATE FOR THE
                                                                       NOTES OFFERED BY THIS PRICING SUPPLEMENT WILL BE THREE MONTH
Agent's Discount:              0.025%                                  LIBOR PLUS 0.10% DETERMINED IN ACCORDANCE WITH THE PROVISIONS
                                                                       OF THIS PRICING SUPPLEMENT AND THE PROSPECTUS SUPPLEMENT ON
Issuance Date:                 JANUARY 19, 2007                        THE SECOND LONDON BANKING DAY IMMEDIATELY PRECEDING THE
                                                                       ISSUANCE DATE.
Stated Maturity Date:          JANUARY 17, 2012
                                                                       Base Rate:    [ ] CD Rate       [ ] Commercial Paper Rate
Initial Interest Payment Date:  APRIL 15, 2007                                       [ ] CMT Rate      [ ] Federal Funds Rate
                                (short first coupon)                                 [X] LIBOR         [ ] Treasury Rate
                                                                                     [ ] Prime Rate    [ ] Other (See Attached)
Interest Payment Dates:        QUARTERLY PROVIDED THAT THE
INTEREST PAYMENT DATE OTHERWISE SCHEDULED TO OCCUR ON                  If LIBOR:     [X] LIBOR Reuters Page: LIBOR01
JANUARY 15, 2012 SHALL INSTEAD OCCUR ON THE STATED                                   [] Libor Telerate Page
MATURITY DATE                                                                        Designated LIBOR Currency:  U.S. Dollars

Specified Currency:            U.S. DOLLARS                            If CMT Rate, Telerate Page:   [ ] 7051     [ ] 7052
                                                                                If 7052:   [ ] Weekly Average    [ ] Monthly Average
Regular Record Dates:          15 DAYS PRIOR TO EACH INTEREST                   Designated CMT Maturity Index:
                               PAYMENT DATE
                                                                       Interest Reset Dates:         QUARTERLY PROVIDED THAT THE
Day Count Convention:          ACTUAL/360                              INTEREST PAYMENT DATE OTHERWISE SCHEDULED TO OCCUR ON
</TABLE>

                   Hartford Life Global Funding Trust 2007-001
                               Omnibus Instrument
                                       16
<PAGE>

<TABLE>
<CAPTION>
<S>                                                                  <C>
                                                                     JANUARY 15, 2012 SHALL INSTEAD OCCUR ON THE STATED
                                                                     MATURITY DATE
                                                                     Initial Interest Reset Date:  APRIL 15, 2007
                                                                     Index Maturity:               THREE MONTHS
                                                                     Interest Rate Determination Dates:  AS SPECIFIED IN THE
                                                                          PROSPECTUS SUPPLEMENT FOR THE INDICATED BASE RATE
Computation of Interest:       AS SPECIFIED IN THE                   Spread:                       + 0.10%
   PROSPECTUS SUPPLEMENT FOR THE INDICATED BASE RATE                 Spread Multiplier:            N/A
                                                                     Maximum Interest Rate:        NONE
Authorized Denominations:      $1,000 INTEGRAL AMOUNTS               Minimum Interest Rate:        NONE

Optional Redemption:   Yes [ ]  NO [X]                               Floating Rate/Fixed Rate Note:   [ ] Yes   [X] NO.  If yes:
    Optional Redemption Date:  N/A                                        Fixed Rate:  N/A
    Initial Redemption Percentage:  N/A                                   Fixed Rate Commencement Date:   N/A
    Annual Percentage Reduction:  N/A
    Redemption may be:         [ ]  In whole only.                   Inverse Floating Rate Note [   ] Yes [X] NO.  If yes,
                               [ ]  In whole or in part.                Fixed Interest Rate:  N/A

                                                                     Sinking Fund:  NONE
Optional Repayment:  [  ] Yes [X] NO
     Optional Repayment Dates:  N/A                                  Calculation Agent:   THE BANK OF NEW YORK TRUST COMPANY, N.A.

Amortizing Note:  [   ] Yes (See attached)  [X] NO                   Exchange Rate Agent:  NONE

Discount Note:  [   ] Yes  [X] NO   If Yes:                          Securities Exchange Listing:  NONE
   Total Amount of Discount:   N/A
   Yield to Maturity:          N/A                                   Additional Amounts to be Paid: [   ] Yes [X] NO

Agents (principal amount purchased): J.P. MORGAN SECURITIES INC.     Special Tax Considerations:    NONE
($125,000,000.00) AND LEHMAN BROTHERS ($125,000,000.00)              Other Provisions Relating to the Notes:    THE BANK OF NEW YORK
                                                                         TRUST COMPANY N.A. IS THE SUCCESSOR INDENTURE TRUSTEE UNDER
                                                                         SECTION 7.14 OF THE INDENTURE.
</TABLE>

                               INFORMATION RELATING TO THE FUNDING AGREEMENT

<TABLE>
<CAPTION>
<S>                                                                  <C>
Funding Agreement Provider:       HARTFORD LIFE                      Type of Interest Rate: [ ] Fixed [X] FLOATING
                                  INSURANCE COMPANY                  If Fixed Rate Funding Agreement:    Interest Rate:  N/A

Funding Agreement:                FA-407001                          If Floating Rate Funding Agreement:  INITIAL INTEREST RATE:
                                                                     THE INITIAL INTEREST RATE FOR THE FUNDING AGREEMENT OFFERED
Contract Payment:                 $250,000,015.00                    BY THIS PRICING SUPPLEMENT WILL BE THREE MONTH LIBOR
                                                                     PLUS 0.10%, DETERMINED IN ACCORDANCE WITH THE PROVISIONS
Deposit Amount :                  $249,937,515.00                    OF THIS PRICING SUPPLEMENT AND THE PROSPECTUS
(if different from Contract Payment)                                 SUPPLEMENT ON THE SECOND LONDON BANKING DAY
                                                                     IMMEDIATELY PRECEDING THE ISSUANCE DATE.
Effective Date:                   JANUARY 19, 2007

Stated Maturity Date:             JANUARY 17, 2012                   Base Rate:  [ ] CD Rate       [ ] Commercial Paper Rate
                                                                                 [ ] CMT Rate      [ ] Federal Funds Rate
Initial Interest Payment Date:    APRIL 15, 2007                                 [X] LIBOR         [ ] Treasury Rate
                                  (short first coupon)                           [ ] Prime Rate    [ ] Other (See Attached)

Interest Payment Dates:       QUARTERLY PROVIDED THAT THE            If LIBOR:   [X] LIBOR Reuters Page: LIBOR01
INTEREST PAYMENT DATE OTHERWISE SCHEDULED TO OCCUR ON                            [ ] Libor Telerate Page:
JANUARY 15, 2012 SHALL INSTEAD OCCUR ON THE STATED                                   Designated LIBOR Currency:  U.S. Dollar.
</TABLE>

                   Hartford Life Global Funding Trust 2007-001
                               Omnibus Instrument
                                       17
<PAGE>

MATURITY DATE

<TABLE>
<CAPTION>
<S>                                                                  <C>
Specified Currency:               U.S. DOLLARS                           If CMT Rate, Telerate Page:   [ ] 7051    [ ] 7052
                                                                             If 7052:   [ ] Weekly Average     [ ] Monthly Average
Day Count Convention:             ACTUAL/360                                   Designated CMT Maturity Index:

                                                                     Initial Interest Reset Date:   APRIL 15, 2007
                                                                     Interest Reset Dates:         QUARTERLY PROVIDED THAT THE
                                                                     INTEREST PAYMENT DATE OTHERWISE SCHEDULED TO OCCUR ON
                                                                     JANUARY 15, 2012 SHALL INSTEAD OCCUR ON THE STATED
                                                                     MATURITY DATE

Computation of Interest:     AS SPECIFIED IN THE PROSPECTUS
  SUPPLEMENT FOR THE INDICATED BASE RATE                             Index Maturity:  THREE MONTHS

Optional Redemption:   Yes [ ] NO [X]                                Interest Rate Determination Date:  AS SPECIFIED IN THE
Optional Redemption Date:   N/A                                      PROSPECTUS SUPPLEMENT FOR THE INDICATED BASE RATE
Initial Redemption Percentage:   N/A
Annual Percentage Reduction:    N/A                                  Spread:                       +0.10%
Redemption may be:   [ ]  In whole only.                             Spread Multiplier:            N/A
                     [ ]  In whole or in part.                       Maximum Interest Rate:        NONE
                                                                     Minimum Interest Rate:        NONE
Other Redemption Terms: N/A                                          Floating Rate/Fixed Rate Funding Agreement:  [ ] Yes  [X] NO
                                                                        If yes:      Fixed Rate:   N/A
Optional Repayment:  [ ] Yes [X] NO                                                  Fixed Rate Commencement Date:   N/A
   Optional Repayment Dates:   N/A
Additional Amounts to be Paid:  [ ] Yes [X] No                       Inverse Floating Rate Funding Agreement: [ ] Yes [X] NO
                                                                        If yes:      Fixed Interest Rate:   N/A
Special Tax Considerations:  NONE
                                                                     Amortizing Funding Agreement:   [ ] Yes  (See attached)
Other Provisions Relating to the Funding Agreement:  NONE                                            [X] No
                                                                     Discount Funding Agreement:  [ ] Yes   [X] NO.     If yes:
                                                                        Total Amount of Discount:  N/A
                                                                         Yield to Maturity:  N/A
</TABLE>

Note: The Opinion regarding the  enforceability of the Funding Agreement and the
related Consent of Counsel for Hartford Life Insurance  Company is given by John
F. Kennedy, Associate Counsel.

                    INFORMATION PERTAINING TO THE RATINGS OF
                       THE NOTES AND THE FUNDING AGREEMENT

It is anticipated  that, as of January 19, 2007,  both the Notes and the Funding
Agreement will be rated by the indicated rating agencies as follows:
               Standard & Poor's:  AA-      Moody's: Aa3
               A.M. Best: aa-               Fitch: AA

The Moody's rating also extends to the Program under which the Notes are issued.

                   Hartford Life Global Funding Trust 2007-001
                               Omnibus Instrument
                                       18
<PAGE>

                                    EXHIBIT B

                          RATINGS; REQUIRED DELIVERIES

Ratings:
--------

In connection  with Section  1.1.3 of the  Distribution  Agreement,  the Program
under which the Notes are issued,  as well as the Notes,  are  anticipated to be
rated Aa3 by  Moody's  and the Notes are rated AA- by S&P.  In  connection  with
Section 1.3.10 of the Distribution  Agreement,  the Company's financial strength
rating is Aa3 by Moody's, AA- by S&P, aa- by A.M. Best, and AA by Fitch.

Required Deliveries:
--------------------

Pursuant  to  Section  5.1,  5.2 and/or 5.5 of the  Distribution  Agreement  the
following opinions, negative assurances and/or comfort letter are required to be
delivered on the Issuance Date (as defined in the Omnibus Instrument):

None.

                   Hartford Life Global Funding Trust 2007-001
                               Omnibus Instrument
                                       19Exhibit 4.1

        THIS WARRANT AND THE SHARES ISSUABLE UPON THE EXERCISE OF THIS
        WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
        1933, AS AMENDED. EXCEPT AS OTHERWISE SET FORTH HEREIN OR IN A
        SECURITIES PURCHASE AGREEMENT DATED AS OF JANUARY 18, 2007,
        NEITHER THIS WARRANT NOR ANY OF SUCH SHARES MAY BE SOLD,
        TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE
        REGISTRATION STATEMENT FOR SUCH SECURITIES UNDER SAID ACT OR, AN
        OPINION OF COUNSEL, IN FORM, SUBSTANCE AND SCOPE, CUSTOMARY FOR
        OPINIONS OF COUNSEL IN COMPARABLE TRANSACTIONS, THAT
        REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR UNLESS SOLD
        PURSUANT TO RULE 144 OR REGULATION S UNDER SUCH ACT.

                                                                   Right to
                                                                   Purchase
                                                                   [-----]
                                                                   Shares of
                                                                   Common
                                                                   Stock, par
                                                                   value $.00005
                                                                   per share

                             STOCK PURCHASE WARRANT

        THIS CERTIFIES THAT, for value received, [_______] or its registered
assigns, is entitled to purchase from MIDNIGHT HOLDINGS GROUP, INC., a Delaware
corporation (the "Company"), at any time or from time to time during the period
specified in Paragraph 2 hereof, [_______] fully paid and nonassessable shares
of the Company's Common Stock, par value $.00005 per share (the "Common Stock"),
at an exercise price per share equal to $.04 (the "Exercise Price"). The term
"Warrant Shares," as used herein, refers to the shares of Common Stock
purchasable hereunder. The Warrant Shares and the Exercise Price are subject to
adjustment as provided in Paragraph 4 hereof. The term "Warrants" means this
Warrant and the other warrants issued pursuant to that certain Securities
Purchase Agreement, dated January 18, 2007, by and among the Company and the
Buyers listed on the execution page thereof (the "Securities Purchase
Agreement").

        This Warrant is subject to the following terms, provisions, and
conditions:

        1.      MANNER OF EXERCISE; ISSUANCE OF CERTIFICATES; PAYMENT FOR
SHARES. Subject to the provisions hereof, this Warrant may be exercised by the
holder hereof, in whole or in part, by the surrender of this Warrant, together
with a completed exercise agreement in the form attached hereto (the "Exercise
Agreement"), to the Company during normal business hours on any business day at
the Company's principal executive offices (or such other office or agency of the
Company as it may designate by notice to the holder hereof), and upon (i)
payment to the Company in cash, by certified or official bank check or by wire
transfer for the account of the

<PAGE>

Company of the Exercise Price for the Warrant Shares specified in the Exercise
Agreement or (ii) if the resale of the Warrant Shares by the holder is not then
registered pursuant to an effective registration statement under the Securities
Act of 1933, as amended (the "Securities Act"), delivery to the Company of a
written notice of an election to effect a "Cashless Exercise" (as defined in
Section 11(c) below) for the Warrant Shares specified in the Exercise Agreement.
The Warrant Shares so purchased shall be deemed to be issued to the holder
hereof or such holder's designee, as the record owner of such shares, as of the
close of business on the date on which this Warrant shall have been surrendered,
the completed Exercise Agreement shall have been delivered, and payment shall
have been made for such shares as set forth above. Certificates for the Warrant
Shares so purchased, representing the aggregate number of shares specified in
the Exercise Agreement, shall be delivered to the holder hereof within a
reasonable time, not exceeding five (5) business days, after this Warrant shall
have been so exercised. The certificates so delivered shall be in such
denominations as may be requested by the holder hereof and shall be registered
in the name of such holder or such other name as shall be designated by such
holder. If this Warrant shall have been exercised only in part, then, unless
this Warrant has expired, the Company shall, at its expense, at the time of
delivery of such certificates, deliver to the holder a new Warrant representing
the number of shares with respect to which this Warrant shall not then have been
exercised. In addition to all other available remedies at law or in equity, if
the Company fails to deliver certificates for the Warrant Shares within five (5)
business days after this Warrant is exercised, then the Company shall pay to the
holder in cash a penalty (the "Penalty") equal to 2% of the number of Warrant
Shares that the holder is entitled to multiplied by the Market Price (as
hereinafter defined) for each day that the Company fails to deliver certificates
for the Warrant Shares. For example, if the holder is entitled to 100,000
Warrant Shares and the Market Price is $2.00, then the Company shall pay to the
holder $4,000 for each day that the Company fails to deliver certificates for
the Warrant Shares. The Penalty shall be paid to the holder by the fifth day of
the month following the month in which it has accrued.

                Notwithstanding anything in this Warrant to the contrary, in no
event shall the holder of this Warrant be entitled to exercise a number of
Warrants (or portions thereof) in excess of the number of Warrants (or portions
thereof) upon exercise of which the sum of (i) 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 Warrants and the unexercised or unconverted portion of any other
securities of the Company (including the Notes (as defined in the Securities
Purchase Agreement)) subject to a limitation on conversion or exercise analogous
to the limitation contained herein) and (ii) the number of shares of Common
Stock issuable upon exercise of the Warrants (or portions thereof) with respect
to which the determination described herein is being made, would result in
beneficial ownership by the holder and its affiliates of more than 4.9% of the
outstanding shares of Common Stock. For purposes of the immediately preceding
sentence, beneficial ownership shall be determined in accordance with Section
13(d) of the Securities Exchange Act of 1934, as amended, and Regulation 13D-G
thereunder, except as otherwise provided in clause (i) of the preceding
sentence. Notwithstanding anything to the contrary contained herein, the
limitation on exercise of this Warrant set forth herein may not be amended
without (i) the written consent of the holder hereof and the Company and (ii)
the approval of a majority of shareholders of the Company.

        2.      PERIOD OF EXERCISE. This Warrant is exercisable at any time or
from time to time on or after the date on which this Warrant is issued and
delivered pursuant to the terms of the

                                     - 2 -
<PAGE>

Securities Purchase Agreement and before 6:00 p.m., New York, New York time on
the fifth (5th) anniversary of the date of issuance (the "Exercise Period").

        3.      CERTAIN AGREEMENTS OF THE COMPANY. The Company hereby covenants
and agrees as follows:

                (a)     SHARES TO BE FULLY PAID. Subject to the completion of
the Charter Amendment Actions (as such term is defined in the Securities
Purchase Agreement), all Warrant Shares will, upon issuance in accordance with
the terms of this Warrant, be validly issued, fully paid, and nonassessable and
free from all taxes, liens, and charges with respect to the issue thereof.

                (b)     RESERVATION OF SHARES. Subject to the completion of the
Charter Amendment Actions, during the Exercise Period, the Company shall at all
times have authorized, and reserved for the purpose of issuance upon exercise of
this Warrant, a sufficient number of shares of Common Stock to provide for the
exercise of this Warrant.

                (c)     LISTING. The Company shall use it best efforts to secure
the listing of the shares of Common Stock issuable upon exercise of the Warrant
upon each national securities exchange or automated quotation system, if any,
upon which shares of Common Stock are then listed (subject to official notice of
issuance upon exercise of this Warrant) and shall maintain, so long as any other
shares of Common Stock shall be so listed, such listing of all shares of Common
Stock from time to time issuable upon the exercise of this Warrant; and the
Company shall so list on each national securities exchange or automated
quotation system, as the case may be, and shall maintain such listing of, any
other shares of capital stock of the Company issuable upon the exercise of this
Warrant if and so long as any shares of the same class shall be listed on such
national securities exchange or automated quotation system.

                (d)     CERTAIN ACTIONS PROHIBITED. The Company will not, by
amendment of its charter or through any reorganization, transfer of assets,
consolidation, merger, dissolution, issue or sale of securities, or any other
voluntary action, avoid or seek to avoid the observance or performance of any of
the terms to be observed or performed by it hereunder, but will at all times in
good faith assist in the carrying out of all the provisions of this Warrant and
in the taking of all such action as may reasonably be requested by the holder of
this Warrant in order to protect the exercise privilege of the holder of this
Warrant against dilution or other impairment, consistent with the tenor and
purpose of this Warrant. Without limiting the generality of the foregoing, the
Company (i) will not increase the par value of any shares of Common Stock
receivable upon the exercise of this Warrant above the Exercise Price then in
effect, and (ii) will take all such actions as may be necessary or appropriate
in order that the Company may validly and legally issue fully paid and
nonassessable shares of Common Stock upon the exercise of this Warrant.

                (e)     SUCCESSORS AND ASSIGNS. This Warrant will be binding
upon any entity succeeding to the Company by merger, consolidation, or
acquisition of all or substantially all the Company's assets.

        4.      ANTIDILUTION PROVISIONS. During the Exercise Period, the
Exercise Price and the number of Warrant Shares shall be subject to adjustment
from time to time as provided in this Paragraph 4.

                                     - 3 -
<PAGE>

        In the event that any adjustment of the Exercise Price as required
herein results in a fraction of a cent, such Exercise Price shall be rounded up
to the nearest cent.

                (a)     ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF SHARES UPON
ISSUANCE OF COMMON STOCK. Except as otherwise provided in Paragraphs 4(c) and
4(e) hereof, if and whenever on or after the date of issuance of this Warrant,
the Company issues or sells, or in accordance with Paragraph 4(b) hereof is
deemed to have issued or sold, any shares of Common Stock for no consideration
or for a consideration per share (before deduction of reasonable expenses or
commissions or underwriting discounts or allowances in connection therewith)
less than the Market Price on the date of issuance (a "Dilutive Issuance"), then
immediately upon the Dilutive Issuance, the Exercise Price will be reduced to a
price determined by multiplying the Exercise Price in effect immediately prior
to the Dilutive Issuance by a fraction, (i) the numerator of which is an amount
equal to the sum of (x) the number of shares of Common Stock actually
outstanding immediately prior to the Dilutive Issuance, plus (y) the quotient of
the aggregate consideration, calculated as set forth in Paragraph 4(b) hereof,
received by the Company upon such Dilutive Issuance divided by the Market Price
in effect immediately prior to the Dilutive Issuance, and (ii) the denominator
of which is the total number of shares of Common Stock Deemed Outstanding (as
defined below) immediately after the Dilutive Issuance.

                (b)     EFFECT ON EXERCISE PRICE OF CERTAIN EVENTS. For purposes
of determining the adjusted Exercise Price under Paragraph 4(a) hereof, the
following will be applicable:

                        (i)     ISSUANCE OF RIGHTS OR OPTIONS. If the Company in
any manner issues or grants any warrants, rights or options, whether or not
immediately exercisable, to subscribe for or to purchase Common Stock or other
securities convertible into or exchangeable for Common Stock ("Convertible
Securities") (such warrants, rights and options to purchase Common Stock or
Convertible Securities are hereinafter referred to as "Options") and the price
per share for which Common Stock is issuable upon the exercise of such Options
is less than the Market Price on the date of issuance or grant of such Options,
then the maximum total number of shares of Common Stock issuable upon the
exercise of all such Options will, as of the date of the issuance or grant of
such Options, be deemed to be outstanding and to have been issued and sold by
the Company for such price per share. For purposes of the preceding sentence,
the "price per share for which Common Stock is issuable upon the exercise of
such Options" is determined by dividing (i) the total amount, if any, received
or receivable by the Company as consideration for the issuance or granting of
all such Options, plus the minimum aggregate amount of additional consideration,
if any, payable to the Company upon the exercise of all such Options, plus, in
the case of Convertible Securities issuable upon the exercise of such Options,
the minimum aggregate amount of additional consideration payable upon the
conversion or exchange thereof at the time such Convertible Securities first
become convertible or exchangeable, by (ii) the maximum total number of shares
of Common Stock issuable upon the exercise of all such Options (assuming full
conversion of Convertible Securities, if applicable). No further adjustment to
the Exercise Price will be made upon the actual issuance of such Common Stock
upon the exercise of such Options or upon the conversion or exchange of
Convertible Securities issuable upon exercise of such Options.

                        (ii)    ISSUANCE OF CONVERTIBLE SECURITIES. If the
Company in any manner issues or sells any Convertible Securities, whether or not
immediately convertible (other than where the same are issuable upon the
exercise of Options) and the price per share for which

                                     - 4 -
<PAGE>

Common Stock is issuable upon such conversion or exchange is less than the
Market Price on the date of issuance, then the maximum total number of shares of
Common Stock issuable upon the conversion or exchange of all such Convertible
Securities will, as of the date of the issuance of such Convertible Securities,
be deemed to be outstanding and to have been issued and sold by the Company for
such price per share. For the purposes of the preceding sentence, the "price per
share for which Common Stock is issuable upon such conversion or exchange" is
determined by dividing (i) the total amount, if any, received or receivable by
the Company as consideration for the issuance or sale of all such Convertible
Securities, plus the minimum aggregate amount of additional consideration, if
any, payable to the Company upon the conversion or exchange thereof at the time
such Convertible Securities first become convertible or exchangeable, by (ii)
the maximum total number of shares of Common Stock issuable upon the conversion
or exchange of all such Convertible Securities. No further adjustment to the
Exercise Price will be made upon the actual issuance of such Common Stock upon
conversion or exchange of such Convertible Securities.

                        (iii)   CHANGE IN OPTION PRICE OR CONVERSION RATE. If
there is a change at any time in (i) the amount of additional consideration
payable to the Company upon the exercise of any Options; (ii) the amount of
additional consideration, if any, payable to the Company upon the conversion or
exchange of any Convertible Securities; or (iii) the rate at which any
Convertible Securities are convertible into or exchangeable for Common Stock
(other than under or by reason of provisions designed to protect against
dilution), the Exercise Price in effect at the time of such change will be
readjusted to the Exercise Price which would have been in effect at such time
had such Options or Convertible Securities still outstanding provided for such
changed additional consideration or changed conversion rate, as the case may be,
at the time initially granted, issued or sold.

                        (iv)    TREATMENT OF EXPIRED OPTIONS AND UNEXERCISED
CONVERTIBLE SECURITIES. If, in any case, the total number of shares of Common
Stock issuable upon exercise of any Option or upon conversion or exchange of any
Convertible Securities is not, in fact, issued and the rights to exercise such
Option or to convert or exchange such Convertible Securities shall have expired
or terminated, the Exercise Price then in effect will be readjusted to the
Exercise Price which would have been in effect at the time of such expiration or
termination had such Option or Convertible Securities, to the extent outstanding
immediately prior to such expiration or termination (other than in respect of
the actual number of shares of Common Stock issued upon exercise or conversion
thereof), never been issued.

                        (v)     CALCULATION OF CONSIDERATION RECEIVED. If any
Common Stock, Options or Convertible Securities are issued, granted or sold for
cash, the consideration received therefor for purposes of this Warrant will be
the amount received by the Company therefor, before deduction of reasonable
commissions, underwriting discounts or allowances or other reasonable expenses
paid or incurred by the Company in connection with such issuance, grant or sale.
In case any Common Stock, Options or Convertible Securities are issued or sold
for a consideration part or all of which shall be other than cash, the amount of
the consideration other than cash received by the Company will be the fair value
of such consideration, except where such consideration consists of securities,
in which case the amount of consideration received by the Company will be the
Market Price thereof as of the date of receipt. In case any Common Stock,
Options or Convertible Securities are issued in connection with any acquisition,
merger or consolidation in which the Company is the surviving corporation, the
amount of consideration

                                     - 5 -
<PAGE>

therefor will be deemed to be the fair value of such portion of the net assets
and business of the non-surviving corporation as is attributable to such Common
Stock, Options or Convertible Securities, as the case may be. The fair value of
any consideration other than cash or securities will be determined in good faith
by the Board of Directors of the Company.

                        (vi)    EXCEPTIONS TO ADJUSTMENT OF EXERCISE PRICE. No
adjustment to the Exercise Price will be made (i) upon the exercise of any
warrants, options or convertible securities granted, issued and outstanding on
the date of issuance of this Warrant; (ii) upon the grant or exercise of any
stock or options which may hereafter be granted or exercised under any employee
benefit plan, stock option plan or restricted stock plan of the Company now
existing or to be implemented in the future, so long as the issuance of such
stock or options is approved by a majority of the independent members of the
Board of Directors of the Company or a majority of the members of a committee of
independent directors established for such purpose; or (iii) upon the exercise
of the Warrants.

                (c)     SUBDIVISION OR COMBINATION OF COMMON STOCK. If the
Company at any time subdivides (by any stock split, stock dividend,
recapitalization, reorganization, reclassification or otherwise) the shares of
Common Stock acquirable hereunder into a greater number of shares, then, after
the date of record for effecting such subdivision, the Exercise Price in effect
immediately prior to such subdivision will be proportionately reduced. If the
Company at any time combines (by reverse stock split, recapitalization,
reorganization, reclassification or otherwise) the shares of Common Stock
acquirable hereunder into a smaller number of shares, then, after the date of
record for effecting such combination, the Exercise Price in effect immediately
prior to such combination will be proportionately increased.

                (d)     ADJUSTMENT IN NUMBER OF SHARES. Upon each adjustment of
the Exercise Price pursuant to the provisions of this Paragraph 4, the number of
shares of Common Stock issuable upon exercise of this Warrant shall be adjusted
by multiplying a number equal to the Exercise Price in effect immediately prior
to such adjustment by the number of shares of Common Stock issuable upon
exercise of this Warrant immediately prior to such adjustment and dividing the
product so obtained by the adjusted Exercise Price.

                (e)     CONSOLIDATION, MERGER OR SALE. In case of any
consolidation of the Company with, or merger of the Company into any other
corporation, or in case of any sale or conveyance of all or substantially all of
the assets of the Company other than in connection with a plan of complete
liquidation of the Company, then as a condition of such consolidation, merger or
sale or conveyance, adequate provision will be made whereby the holder of this
Warrant will have the right to acquire and receive upon exercise of this Warrant
in lieu of the shares of Common Stock immediately theretofore acquirable upon
the exercise of this Warrant, such shares of stock, securities or assets as may
be issued or payable with respect to or in exchange for the number of shares of
Common Stock immediately theretofore acquirable and receivable upon exercise of
this Warrant had such consolidation, merger or sale or conveyance not taken
place. In any such case, the Company will make appropriate provision to insure
that the provisions of this Paragraph 4 hereof will thereafter be applicable as
nearly as may be in relation to any shares of stock or securities thereafter
deliverable upon the exercise of this Warrant. The Company will not effect any
consolidation, merger or sale or conveyance unless prior to the consummation
thereof, the successor corporation (if other than the Company) assumes by
written instrument the obligations under this Paragraph 4 and the obligations to
deliver to the holder of

                                     - 6 -
<PAGE>

this Warrant such shares of stock, securities or assets as, in accordance with
the foregoing provisions, the holder may be entitled to acquire.

                (f)     DISTRIBUTION OF ASSETS. In case the Company shall
declare or make any distribution of its assets (including cash) to holders of
Common Stock as a partial liquidating dividend, by way of return of capital or
otherwise, then, after the date of record for determining shareholders entitled
to such distribution, but prior to the date of distribution, the holder of this
Warrant shall be entitled upon exercise of this Warrant for the purchase of any
or all of the shares of Common Stock subject hereto, to receive the amount of
such assets which would have been payable to the holder had such holder been the
holder of such shares of Common Stock on the record date for the determination
of shareholders entitled to such distribution.

                (g)     NOTICE OF ADJUSTMENT. Upon the occurrence of any event
which requires any adjustment of the Exercise Price, then, and in each such
case, the Company shall give notice thereof to the holder of this Warrant, which
notice shall state the Exercise Price resulting from such adjustment and the
increase or decrease in the number of Warrant Shares purchasable at such price
upon exercise, setting forth in reasonable detail the method of calculation and
the facts upon which such calculation is based. Such calculation shall be
certified by the Chief Financial Officer of the Company.

                (h)     MINIMUM ADJUSTMENT OF EXERCISE PRICE. No adjustment of
the Exercise Price shall be made in an amount of less than 1% of the Exercise
Price in effect at the time such adjustment is otherwise required to be made,
but any such lesser adjustment shall be carried forward and shall be made at the
time and together with the next subsequent adjustment which, together with any
adjustments so carried forward, shall amount to not less than 1% of such
Exercise Price.

                (i)     NO FRACTIONAL SHARES. No fractional shares of Common
Stock are to be issued upon the exercise of this Warrant, but the Company shall
pay a cash adjustment in respect of any fractional share which would otherwise
be issuable in an amount equal to the same fraction of the Market Price of a
share of Common Stock on the date of such exercise.

                (j)     OTHER NOTICES. In case at any time:

                        (i)     the Company shall declare any dividend upon the
Common Stock payable in shares of stock of any class or make any other
distribution (including dividends or distributions payable in cash out of
retained earnings) to the holders of the Common Stock;

                        (ii)    the Company shall offer for subscription pro
rata to the holders of the Common Stock any additional shares of stock of any
class or other rights;

                        (iii)   there shall be any capital reorganization of the
Company, or reclassification of the Common Stock, or consolidation or merger of
the Company with or into, or sale of all or substantially all its assets to,
another corporation or entity; or

                        (iv)    there shall be a voluntary or involuntary
dissolution, liquidation or winding up of the Company;

                                     - 7 -
<PAGE>

then, in each such case, the Company shall give to the holder of this Warrant
(a) notice of the date on which the books of the Company shall close or a record
shall be taken for determining the holders of Common Stock entitled to receive
any such dividend, distribution, or subscription rights or for determining the
holders of Common Stock entitled to vote in respect of any such reorganization,
reclassification, consolidation, merger, sale, dissolution, liquidation or
winding-up and (b) in the case of any such reorganization, reclassification,
consolidation, merger, sale, dissolution, liquidation or winding-up, notice of
the date (or, if not then known, a reasonable approximation thereof by the
Company) when the same shall take place. Such notice shall also specify the date
on which the holders of Common Stock shall be entitled to receive such dividend,
distribution, or subscription rights or to exchange their Common Stock for stock
or other securities or property deliverable upon such reorganization,
reclassification, consolidation, merger, sale, dissolution, liquidation, or
winding-up, as the case may be. Such notice shall be given at least 30 days
prior to the record date or the date on which the Company's books are closed in
respect thereto. Failure to give any such notice or any defect therein shall not
affect the validity of the proceedings referred to in clauses (i), (ii), (iii)
and (iv) above.

                (k)     CERTAIN EVENTS. If any event occurs of the type
                        contemplated by the adjustment provisions of this
                        Paragraph 4 but not expressly provided for by such
                        provisions, the Company will give notice of such event
                        as provided in Paragraph 4(g) hereof, and the Company's
                        Board of Directors will make an appropriate adjustment
                        in the Exercise Price and the number of shares of Common
                        Stock acquirable upon exercise of this Warrant so that
                        the rights of the holder shall be neither enhanced nor
                        diminished by such event.

                (l)     CERTAIN DEFINITIONS.

                        (i)     "COMMON STOCK DEEMED OUTSTANDING" shall mean the
number of shares of Common Stock actually outstanding (not including shares of
Common Stock held in the treasury of the Company), plus (x) pursuant to
Paragraph 4(b)(i) hereof, the maximum total number of shares of Common Stock
issuable upon the exercise of Options, as of the date of such issuance or grant
of such Options, if any, and (y) pursuant to Paragraph 4(b)(ii) hereof, the
maximum total number of shares of Common Stock issuable upon conversion or
exchange of Convertible Securities, as of the date of issuance of such
Convertible Securities, if any.

                        (ii)    "MARKET PRICE," as of any date, (i) means the
average of the last reported sale prices for the shares of Common Stock on the
OTCBB for the five (5) Trading Days immediately preceding such date as reported
by Bloomberg, or (ii) if the OTCBB is not the principal trading market for the
shares of Common Stock, the average of the last reported sale prices on the
principal trading market for the Common Stock during the same period as reported
by Bloomberg, or (iii) if market value cannot be calculated as of such date on
any of the foregoing bases, the Market Price shall be the fair market value as
reasonably determined in good faith by (a) the Board of Directors of the Company
or, at the option of a majority-in-interest of the holders of the outstanding
Warrants by (b) an independent investment bank of nationally recognized standing
in the valuation of businesses similar to the business of the corporation. The
manner of determining the Market Price of the Common Stock set forth in the
foregoing definition shall apply with respect to any other security in respect
of which a determination as to market value must be made hereunder.

                        (iii)   "COMMON STOCK," for purposes of this Paragraph
4, includes the Common Stock, par value $.00005 per share, and any additional
class of stock of the Company

                                     - 8 -
<PAGE>

having no preference as to dividends or distributions on liquidation, provided
that the shares purchasable pursuant to this Warrant shall include only shares
of Common Stock, par value $.00005 per share, in respect of which this Warrant
is exercisable, or shares resulting from any subdivision or combination of such
Common Stock, or in the case of any reorganization, reclassification,
consolidation, merger, or sale of the character referred to in Paragraph 4(e)
hereof, the stock or other securities or property provided for in such
Paragraph.

        5.      ISSUE TAX. The issuance of certificates for Warrant Shares upon
the exercise of this Warrant shall be made without charge to the holder of this
Warrant or such shares for any issuance tax or other costs in respect thereof,
provided that the Company shall not be required to pay any tax which may be
payable in respect of any transfer involved in the issuance and delivery of any
certificate in a name other than the holder of this Warrant.

        6.      NO RIGHTS OR LIABILITIES AS A SHAREHOLDER. This Warrant shall
not entitle the holder hereof to any voting rights or other rights as a
shareholder of the Company. No provision of this Warrant, in the absence of
affirmative action by the holder hereof to purchase Warrant Shares, and no mere
enumeration herein of the rights or privileges of the holder hereof, shall give
rise to any liability of such holder for the Exercise Price or as a shareholder
of the Company, whether such liability is asserted by the Company or by
creditors of the Company.

        7.      TRANSFER, EXCHANGE, AND REPLACEMENT OF WARRANT.

                (a)     RESTRICTION ON TRANSFER. This Warrant and the rights
granted to the holder hereof are transferable, in whole or in part, upon
surrender of this Warrant, together with a properly executed assignment in the
form attached hereto, at the office or agency of the Company referred to in
Paragraph 7(e) below, provided, however, that any transfer or assignment shall
be subject to the conditions set forth in Paragraph 7(f) hereof and to the
applicable provisions of the Securities Purchase Agreement. Until due
presentment for registration of transfer on the books of the Company, the
Company may treat the registered holder hereof as the owner and holder hereof
for all purposes, and the Company shall not be affected by any notice to the
contrary. Notwithstanding anything to the contrary contained herein, the
registration rights described in Paragraph 8 are assignable only in accordance
with the provisions of that certain Registration Rights Agreement, dated January
18, 2007, by and among the Company and the other signatories thereto (the
"Registration Rights Agreement").

                (b)     WARRANT EXCHANGEABLE FOR DIFFERENT DENOMINATIONS. This
Warrant is exchangeable, upon the surrender hereof by the holder hereof at the
office or agency of the Company referred to in Paragraph 7(e) below, for new
Warrants of like tenor representing in the aggregate the right to purchase the
number of shares of Common Stock which may be purchased hereunder, each of such
new Warrants to represent the right to purchase such number of shares as shall
be designated by the holder hereof at the time of such surrender.

                (c)     REPLACEMENT OF WARRANT. Upon 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, upon delivery of an indemnity agreement reasonably satisfactory in
form and amount to the Company, or, in the case of any such mutilation, upon
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 -
<PAGE>

                (d)     CANCELLATION; PAYMENT OF EXPENSES. Upon the surrender of
this Warrant in connection with any transfer, exchange, or replacement as
provided in this Paragraph 7, this Warrant shall be promptly canceled by the
Company. The Company shall pay all taxes (other than securities transfer taxes)
and all other expenses (other than legal expenses, if any, incurred by the
holder or transferees) and charges payable in connection with the preparation,
execution, and delivery of Warrants pursuant to this Paragraph 7.

                (e)     REGISTER. The Company shall maintain, at its principal
executive offices (or such other office or agency of the Company as it may
designate by notice to the holder hereof), a register for this Warrant, in which
the Company shall record the name and address of the person in whose name this
Warrant has been issued, as well as the name and address of each transferee and
each prior owner of this Warrant.

                (f)     EXERCISE OR TRANSFER WITHOUT REGISTRATION. If, at the
time of the surrender of this Warrant in connection with any exercise, transfer,
or exchange of this Warrant, this Warrant (or, in the case of any exercise, the
Warrant Shares issuable hereunder), shall not be registered under the Securities
Act of 1933, as amended (the "Securities Act") and under applicable state
securities or blue sky laws, the Company may require, as a condition of allowing
such exercise, transfer, or exchange, (i) that the holder or transferee of this
Warrant, as the case may be, furnish to the Company a written opinion of
counsel, which opinion and counsel are acceptable to the Company, to the effect
that such exercise, transfer, or exchange may be made without registration under
said Act and under applicable state securities or blue sky laws, (ii) that the
holder or transferee execute and deliver to the Company an investment letter in
form and substance acceptable to the Company and (iii) that the transferee be an
"accredited investor" as defined in Rule 501(a) promulgated under the Securities
Act; provided that no such opinion, letter or status as an "accredited investor"
shall be required in connection with a transfer pursuant to Rule 144 under the
Securities Act. The first holder of this Warrant, by taking and holding the
same, represents to the Company that such holder is acquiring this Warrant for
investment and not with a view to the distribution thereof.

        8.      REGISTRATION RIGHTS. The initial holder of this Warrant (and
certain assignees thereof) is entitled to the benefit of such registration
rights in respect of the Warrant Shares as are set forth in Section 2 of the
Registration Rights Agreement.

        9.      NOTICES. All notices, requests, and other communications
required or permitted to be given or delivered hereunder to the holder of this
Warrant shall be in writing, and shall be personally delivered, or shall be sent
by certified or registered mail or by recognized overnight mail courier, postage
prepaid and addressed, to such holder at the address shown for such holder on
the books of the Company, or at such other address as shall have been furnished
to the Company by notice from such holder. All notices, requests, and other
communications required or permitted to be given or delivered hereunder to the
Company shall be in writing, and shall be personally delivered, or shall be sent
by certified or registered mail or by recognized overnight mail courier, postage
prepaid and addressed, to the office of the Company at 22600 Hall Road, Suite
205, Clinton Township, MI 48036, Attention: Chief Executive Officer, or at such
other address as shall have been furnished to the holder of this Warrant by
notice from the Company. Any such notice, request, or other communication may be
sent by facsimile, but shall in such case be subsequently confirmed by a writing
personally delivered or sent by certified or registered mail or by recognized
overnight mail courier as provided above. All notices, requests, and other
communications shall be deemed to have been given either at the time of the
receipt

                                     - 10 -
<PAGE>

thereof by the person entitled to receive such notice at the address of such
person for purposes of this Paragraph 9, or, if mailed by registered or
certified mail or with a recognized overnight mail courier upon deposit with the
United States Post Office or such overnight mail courier, if postage is prepaid
and the mailing is properly addressed, as the case may be.

        10.     GOVERNING LAW. THIS WARRANT SHALL BE ENFORCED, GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO
AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE, WITHOUT REGARD
TO THE PRINCIPLES OF CONFLICT OF LAWS. THE PARTIES HERETO HEREBY SUBMIT TO THE
EXCLUSIVE JURISDICTION OF THE UNITED STATES FEDERAL COURTS LOCATED IN NEW YORK,
NEW YORK WITH RESPECT TO ANY DISPUTE ARISING UNDER THIS WARRANT, THE AGREEMENTS
ENTERED INTO IN CONNECTION HEREWITH OR THE TRANSACTIONS CONTEMPLATED HEREBY OR
THEREBY. BOTH PARTIES IRREVOCABLY WAIVE THE DEFENSE OF AN INCONVENIENT FORUM TO
THE MAINTENANCE OF SUCH SUIT OR PROCEEDING. BOTH PARTIES FURTHER AGREE THAT
SERVICE OF PROCESS UPON A PARTY MAILED BY FIRST CLASS MAIL SHALL BE DEEMED IN
EVERY RESPECT EFFECTIVE SERVICE OF PROCESS UPON THE PARTY IN ANY SUCH SUIT OR
PROCEEDING. NOTHING HEREIN SHALL AFFECT EITHER PARTY'S RIGHT TO SERVE PROCESS IN
ANY OTHER MANNER PERMITTED BY LAW. BOTH PARTIES AGREE THAT A FINAL
NON-APPEALABLE JUDGMENT IN ANY SUCH SUIT OR PROCEEDING SHALL BE CONCLUSIVE AND
MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON SUCH JUDGMENT OR IN ANY OTHER
LAWFUL MANNER. THE PARTY WHICH DOES NOT PREVAIL IN ANY DISPUTE ARISING UNDER
THIS WARRANT SHALL BE RESPONSIBLE FOR ALL FEES AND EXPENSES, INCLUDING
ATTORNEYS' FEES, INCURRED BY THE PREVAILING PARTY IN CONNECTION WITH SUCH
DISPUTE.

        11.     MISCELLANEOUS.

                (a)     AMENDMENTS. This Warrant and any provision hereof may
only be amended by an instrument in writing signed by the Company and the holder
hereof.

                (b)     DESCRIPTIVE HEADINGS. The descriptive headings of the
several paragraphs of this Warrant are inserted for purposes of reference only,
and shall not affect the meaning or construction of any of the provisions
hereof.

                (c)     CASHLESS EXERCISE. Notwithstanding anything to the
contrary contained in this Warrant, if the resale of the Warrant Shares by the
holder is not then registered pursuant to an effective registration statement
under the Securities Act, this Warrant may be exercised by presentation and
surrender of this Warrant to the Company at its principal executive offices with
a written notice of the holder's intention to effect a cashless exercise,
including a calculation of the number of shares of Common Stock to be issued
upon such exercise in accordance with the terms hereof (a "Cashless Exercise").
In the event of a Cashless Exercise, in lieu of paying the Exercise Price in
cash, the holder shall surrender this Warrant for that number of shares of
Common Stock determined by multiplying the number of Warrant Shares to which it
would otherwise be entitled by a fraction, the numerator of which shall be the
difference between the then current Market Price per share of the Common Stock
and the Exercise Price, and the denominator of which shall be the then current
Market Price per share of Common Stock. For

                                     - 11 -
<PAGE>

example, if the holder is exercising 100,000 Warrants with a per Warrant
exercise price of $0.75 per share through a cashless exercise when the Common
Stock's current Market Price per share is $2.00 per share, then upon such
Cashless Exercise the holder will receive 62,500 shares of Common Stock.

                (d)     REMEDIES. The Company acknowledges that a breach by it
of its obligations hereunder will cause irreparable harm to the holder, by
vitiating the intent and purpose of the transaction contemplated hereby.
Accordingly, the Company acknowledges that the remedy at law for a breach of its
obligations under this Warrant will be inadequate and agrees, in the event of a
breach or threatened breach by the Company of the provisions of this Warrant,
that the holder shall be entitled, in addition to all other available remedies
at law or in equity, and in addition to the penalties assessable herein, to an
injunction or injunctions restraining, preventing or curing any breach of this
Warrant and to enforce specifically the terms and provisions thereof, without
the necessity of showing economic loss and without any bond or other security
being required.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                     - 12 -
<PAGE>

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

                                               MIDNIGHT HOLDINGS GROUP, INC.

                                               By: _____________________________
                                                   Nicholas Cocco
                                                   Chief Executive Officer

Dated as of January 18, 2007

<PAGE>

                           FORM OF EXERCISE AGREEMENT

                                                        Dated: ________ __, 200_

To:  ______________________

        The undersigned, pursuant to the provisions set forth in the within
Warrant, hereby agrees to purchase ________ shares of Common Stock covered by
such Warrant, and makes payment herewith in full therefor at the price per share
provided by such Warrant in cash or by certified or official bank check in the
amount of, or, if the resale of such Common Stock by the undersigned is not
currently registered pursuant to an effective registration statement under the
Securities Act of 1933, as amended, by surrender of securities issued by the
Company (including a portion of the Warrant) having a market value (in the case
of a portion of this Warrant, determined in accordance with Section 11(c) of the
Warrant) equal to $_________. Please issue a certificate or certificates for
such shares of Common Stock in the name of and pay any cash for any fractional
share to:

                                        Name: __________________________________

                                        Signature:
                                        Address:________________________________

                                              __________________________________

                                        Note:     The above signature should
                                                  correspond exactly with the
                                                  name on the face of the
                                                  within Warrant, if applicable.

and, if said number of shares of Common Stock shall not be all the shares
purchasable under the within Warrant, a new Warrant is to be issued in the name
of said undersigned covering the balance of the shares purchasable thereunder
less any fraction of a share paid in cash.

<PAGE>

                               FORM OF ASSIGNMENT

        FOR VALUE RECEIVED, the undersigned hereby sells, assigns, and transfers
all the rights of the undersigned under the within Warrant, with respect to the
number of shares of Common Stock covered thereby set forth hereinbelow, to:

Name of Assignee                Address                             No of Shares
----------------                -------                             ------------

, and hereby irrevocably constitutes and appoints ______________________________
as agent and attorney-in-fact to transfer said Warrant on the books of the
within-named corporation, with full power of substitution in the premises.

Dated:  ________ __, 200_

In the presence of:                ________________________________________

                              Name:________________________________________

                              Signature:_________________________________
                              Title of Signing Officer or Agent (if any):

                                           _____________________________________

                              Address:     _____________________________________

                                           _____________________________________

                                     Note: The above signature should
                                           correspond exactly with the name on
                                           the face of the within Warrant, if
                                           applicable.

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