Document:

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                                                                   EXHIBIT 10.5

                           TRADEMARK LICENSE AGREEMENT

         THIS LICENSE AGREEMENT (the "Agreement") dated October 23, 1998,
("Effective Date") between SurgiJet, Inc., a California corporation ("COMPANY"),
and VisiJet, Inc., a California corporation (the "LICENSEE").

         WHEREAS, COMPANY is the owner of and has the right trademarks and trade
names relating to products and services of COMPANY which are identified in
EXHIBIT A (the "TRADEMARKS") attached hereto.

         WHEREAS, COMPANY and LICENSEE are parties to various agreements and
arrangements whereby LICENSEE is granted the right to develop and market certain
products owned by COMPANY.

         WHEREAS, COMPANY and LICENSEE each desire LICENSEE to have the right to
utilize the TRADEMARKS in under certain terms and conditions in furtherance of
the business relationship of the parties.

         NOW, THEREFORE, and in consideration of the covenants herein contained,
the parties agree as follows:

1.       TRADEMARKS

         1.1 During the term of this Agreement, COMPANY hereby grants and
LICENSEE hereby accepts an Exclusive (as defined herein), non-transferable
license (including the right to sublicense as further set forth in this
Agreement) in association with the ongoing business relationship of the COMPANY
and the LICENSEE within the Licensed Field of Use and the Licensed Territory, as
those terms are defined herein.

         1.2 Unless earlier terminated as provided in this Agreement, this
Agreement shall be in force for a term commencing as of the Effective Date and
ending on the first to occur of the following:

                  (a) as to any individual TRADEMARK, the expiration of this
Agreement for any reason.

                  (b) as to all TRADEMARKS, the termination of this Agreement
for any reason.

         1.3 COMPANY is responsible for maintaining all registration covering
the TRADEMARKS and renewing the registrations as required, except that all costs
therefor during the term of this Agreement shall be borne by the LICENSEE.

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         1.4 LICENSEE agrees that COMPANY is the exclusive owner of the
TRADEMARKS and all the goodwill attached thereto and that COMPANY shall retain
full rights to the TRADEMARKS, all registrations granted thereon and the
goodwill associated therewith. LICENSEE shall have no rights, other than rights
granted herein, to the TRADEMARKS or any confusingly similar variation thereof.
LICENSEE agrees, at the request of COMPANY to execute any and all papers and
documents necessary to preserve and extend the trademark rights relating to the
TRADEMARKS, including any Registered User Agreements and any documents required
by governmental authorities to show the relationship between LICENSEE and
COMPANY.

         1.5 LICENSEE agrees not to seek registration or to claim ownership of
any TRADEMARKS, or of confusingly similar trademarks or trade names.

         1.6 LICENSEE shall operate its business in accordance with the
standards and requirements of quality and production necessary to produce
products of the same quality as products manufactured and sold elsewhere by
COMPANY, or otherwise set forth by the COMPANY in writing. COMPANY shall have
the right to inspect, at reasonable times, including business hours, the
premises of LICENSEE to assure the nature and quality of all products associated
with TRADEMARKS.

2.       DEFINITIONS

         2.1 "Net Sales" means the gross revenue derived by LICENSEE and/or its
sublicensees from any products utilizing the TRADEMARKS, whether or not
assembled (and without excluding therefrom any components or subassemblies
thereof, whatever their origin and whether or not patent impacted), less the
following items but only insofar as they actually pertain to the disposition of
such products by LICENSEE or its sublicensees, are included in such gross
revenue, and are separately billed:

                  (a) Import, export, excise and sales taxes, and custom duties;

                  (b) Costs of insurance, packing, and transportation from the
place of manufacture to the customer's premises or point of installation;

                  (c) Costs of installation at the place of use; and

                  (d} Credit for returns, allowances, or trades.

         2.2 "Licensed Field of Use" means the medical and surgical fields
related to ophthalmological applications.

         2.3 "Licensed Territory" means the territory set forth is EXHIBIT B
attached hereto.

         2.4 "Exclusive" means that, subject to any provisions to the contrary
in this Agreement, COMPANY shall not grant further licenses in the Licensed
Territory in the Licensed Field of Use.

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3.       ROYALTIES

         3.1 As consideration for the license granted hereunder, LICENSEE shall
pay to COMPANY earned royalties on Net Sales as follows: two percent (2%) of the
Net Sales for such period of time equal to the duration of the license
contemplated under this Agreement (the "Running Royalties"). All Running
Royalties shall be paid by LICENSEE to COMPANY on or before 45 days after March
31st, June 30th, September 30th and December 31st of each calendar year of the
license contemplated in this Agreement, and shall be submitted together with a
statement of Running Royalties for each such applicable period setting forth the
calculation thereof.

         3.2 Running Royalties on sales is currencies other than U.S. Dollars
shall be calculated using the appropriate foreign exchange rate for such
currency quoted by the Bank of America (San Francisco) foreign exchange desk, on
the close of business on the last banking day of each calendar quarter. All
royalty payments to COMPANY shall be in U.S. Dollars. All non U.S. taxes related
to royalty payments shall be paid by LICENSEE and are not deductible from the
payments due COMPANY.

         3.3 In the event of any sublicense pursuant to Article 7 herein,
LICENSEE shall pay to COMPANY one-half of all royalties received by LICENSEE
from its sublicensees in excess of that which is payable to COMPANY pursuant to
this Article 3. LICENSEE may retain the remainder of such income from
sublicensees.

3A.      ROYALTY REPORTS, PAYMENTS, AND ACCOUNTING

         3A.1 Beginning with the fast sale of any products utilizing the
TRADEMARKS, LICENSEE shall make quarterly written reports (even if there are no
sales) and Running Royalty payments to COMPANY on the dates set forth in Article
3. The reports shall be in a form of mutually agreeable to the parties and shall
state the number, description, and aggregate Net Sales of Licensed Products
during such completed calendar quarter, and resulting calculation pursuant to
Article 3 of the Running Royalty payment due COMPANY for such completed calendar
quarter. Concurrent with the making of each such report, LICENSEE shall include
the payment due COMPANY for the Running Royalty for the calendar quarter covered
by such report.

         3A.2 LICENSEE agrees to keep and maintain records for a period of three
(3) years showing the manufacture, sale, use, and other disposition of produce
sold or otherwise disposed of under the license herein granted. Such records
will include general ledger records showing cash receipts and expenses, and
records which include production records, customers, serial numbers, and related
information in sufficient detail to enable the royalties payable hereunder by
LICENSEE to be determined. LICENSEE further agrees to permit its books. and
records to be examined by COMPANY from time to time to the extent necessary to
verify the reports provided for in Paragraph 3A.1. Such examination is to be
made by COMPANY or its designee, at the expense of COMPANY, except in the event
that the results of the audit reveal as under-reporting of royalties due COMPANY
of five percent (5%) or more, then the audit costs shall be paid by LICENSEE.

                                       3
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4.       TERMINATION

         4.1 LICENSEE may terminate this Agreement only by giving COMPANY
notice, in writing at least thirty (30) days in advance of the effective date of
the proposed termination selected by LICENSEE, of good cause for termination of
the Agreement, and COMPANY fails to remedy any such cause within thirty (30)
days after such notice. For the purposes of this Section 4.1, the term "good
cause" shall mean the failure or breach of any representation or warranty made
by COMPANY in Article 5 of this Agreement, with the exception that LICENSEE
shall be deemed to have waived any misrepresentation or breach of representation
or warranty of which such party had knowledge before the effective date of this
Agreement.

         4.2 COMPANY may terminate this Agreement if LICENSEE:

                  (a) Is in default in payment of royalty or providing of
reports;

                  (b) Becomes a bankrupt or is insolvent;

                  (c) Is in breach of any provisions hereof; or

                  (f) Provides any false report;

and LICENSEE fails to remedy any such default, breach, or false report within
thirty (30) days after written notice thereof by COMPANY.

         4.3 Surviving any termination are:

                  (a) LICENSEE'S obligation to pay royalties accrued or
accruable;

                  (b) Any cause of action or claim of LICENSEE or COMPANY,
accrued or to accrue, because of any breach or default by the other party; and

                  (c) All of LICENSEE'S covenants and agreements contained
herein with respect t:o confidentiality and secrecy.

         4.4 In the event of Expiration or Termination of this Agreement by
either party, for any cause whatsoever, LICENSEE agrees to immediately:

                  (1) Stop the use of TRADEMARKS on products;

                  (2) Stop the use of TRADEMARKS on all business papers,
advertising, catalogs or other documents of trade or record.

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5.       WARRANTIES

         5.1 Standing. COMPANY represents that it is a corporation duly
organized, validly existing, and in good standing under the laws of the State o
California, with all corporate powers necessary to own its assets and property
and to carry on its business as so owned and conducted.

         5.2 Authority. COMPANY represents and warrants that it has full power
and authority to execute and deliver this Agreement, to grant the license
granted herein and to perform its obligations hereunder.

         5.3 Negation of Warranties. Nothing in this Agreement is or shall be
construed as:

                  (a) A warranty or representation by COMPANY as to the validity
of any TRADEMARK;

                  (b) A warranty or representation that the use of any
TRADEMARKS on anything made, used, sold, or otherwise disposed of by LICENSEE
will be free from infringement or dilution of trade names or trademarks,
copyrights, and other rights of third parties; or

                  (c) An obligation to bring or prosecute actions or suits
against third parties for infringement; except to the extent and in the
circumstances described in Article 6 of this Agreement.

         5.2 Except as expressly set forth in this Agreement, COMPANY MAKES NO
REPRESENTATIONS AND EXTENDS NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED
WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OR THAT THE
USE OF THE TRADEMARKS WILL NOT INFRINGE ANY COPYRIGHT, TRADENAME, TRADEMARK, OR
OTHER RIGHTS OR ANY OTHER EXPRESS OR IMPLIED WARRANTIES.

6.       INFRINGEMENT BY OTHERS:  PROTECTION OF TRADEMARKS

         6.1 In the event that either party learns of facts which it concludes
might constitute as infringement, dilution, or any other violation of any of the
TRADEMARKS by any third party during the term of this Agreement, the party
learning of such facts shall promptly notify the other party in writing, setting
forth such facts and the basis for its conclusion, and shall include with such
notice any other reasonably available evidence is support thereof.

         6.2 LICENSEE shall have the obligation to take all appropriate action
against the infringing party and LICENSEE shall pay all costs and expenses
(including without limitation attorneys' fees and costs of investigation and
experts) incurred in connection with such action. Any legal counsel engaged by
LICENSEE shall be reasonably satisfactory to COMPANY. COMPANY, at LICENSEE's
expense, shall have the right to participate in, and, to the extent that it may
wish, to jointly assume the prosecution of such action with counsel reasonably
satisfactory to LICENSEE. LICENSEE shall obtain the consent of COMPANY prior to
settling any such action. If LICENSEE shall fail to take all appropriate action

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as specified hereunder, then COMPANY shall have the right to take such action
and LICENSEE shall pay or reimburse COMPANY for all costs and expenses
(including without limitation attorneys' fees and costs of investigation and
experts) incurred in connection with such action.

         6.3 Any proceeds from any settlement or judgment of any infringement,
claim, action, suit or proceeding brought by LICENSEE shall be allocated and/or
paid within thirty (30) days of receipt thereof as follows: (i) first to
reimburse LICENSEE (and COMPANY, pari passu to the extent that it has not
otherwise been reimbursed for attorneys' fees, costs and expenses incurred in
connection with the prosecution of such infringement) for attorneys' fees and
other costs and expenses reasonably incurred in connection with the prosecution
or other efforts to terminate the infringement pursuant to the terms of this
Agreement; and (ii) thereafter, the remainder shall be divided equally between
the parties.

         6.4 Any equitable relief, including, without limitation declaratory and
injunctive relief, whether or not obtained in conjunction with the recovery of
monetary damages, shall inure to the benefit of both COMPANY and LICENSEE.

         6.5 Notwithstanding any provision of this Article 6, in the event any
infringement action, suit or proceeding is brought hereunder by ether party to
enforce any rights in or to the Devices or the Technology, each party, if
legally necessary, shall, upon the written request of the other party, be named,
joined and participate therein as a nominal plaintiff.

7.       SUBLICENSES

         7.1 LICENSEE may grant sublicenses during the term of the license of
any TRADEMARK contemplated hereunder as set forth herein and only pursuant to
express written consent of COMPANY, such written consent not o be unreasonably
withheld.

         7.2 If LICENSEE is unable or unwilling to serve or develop a potential
market or market territory for products utilizing any TRADEMARKS and for which
there are willing sublicensees, LICENSEE will, at COMPANY'S request, negotiate
in good faith all necessary sublicenses hereunder.

         7.3 Any sublicenses granted by LICENSEE under this Agreement shall be
subject and subordinate to terms and conditions of this Agreement, except:

                  (a) Sublicense terms and conditions shall reflect that any
sublicensees shall not further sublicense; and

                  (b) The royalty rate specified in the sublicenses may be at a
higher rate than the rate in this Agreement. Any such sublicenses also shall
expressly include the provisions of Articles 5 and 8 of this Agreement for the
benefit of the COMPANY and provide for the transfer of all obligations,
including the payment of royalties specified in such sublicenses, to COMPANY,
its designee, in the event that this Agreement is terminated.

                                       6
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         7.4 LICENSEE agrees to provide COMPANY a copy of any sublicense granted
pursuant to this Article 7.

8.       INDEMNITY AND INSURANCE

         8.1 LICENSEE agrees to indemnify, hold harmless, and defend COMPANY and
its respective directors, officers, employees, consultants and agents against
any and all claims for death, illness, personal injury, property damage, and
improper business practices arising out of the manufacture, use, sale, or other
disposition of products utilizing the TRADEMARKS by LICENSEE or its
sublicensees, o:r their customers.

         8.2 COMPANY shall not be liable for any indirect, spacial,
consequential or other damages whatsoever, whether grounded in tort (including
negligence), strict liability, contractor or otherwise. COMPANY shall not have
any responsibilities or liabilities whatsoever with respect to the TRADEMARKS or
any products utilizing the TRADEMARKS.

         8.3 LICENSEE shall at all times comply, through insurance or
self-insurance, with all statutory workers' compensation and employers'
liability requirements covering any and all employees with respect to activities
performed under this Agreement.

         8.4 In addition to the foregoing, LICENSEE shall maintain, during the
term of this Agreement, Comprehensive General Liability Insurance, including
Products Liability Insurance, with reputable and financially secure insurance
carriers to cover the activities of LICENSEE and its sublicensees. Such
insurance shall be written to cover claims incurred, discovered, manifested, or
made during or after the expiration of this Agreement. At COMPANY's request,
LICENSEE shall furnish a Certification of Insurance evidencing primary coverage
and requiring thirty (30) days prior written notice of cancellation or material
change to COMPANY. LICENSEE shall advise COMPANY, in writing, that it maintains
excess liability coverage (following form) over primary insurance for at least
the minimum limits set forth above. All such insurance of LICENSEE shall be
primary coverage; insurance of COMPANY shall be excess and non-contributory.

9.       MARKING

Whenever LICENSEE uses the TRADEMARKS in advertizing, packaging, affixing to
product or in any other manner, LICENSEE shall clearly indicate the COMPANY's
ownership of the TRADEMARKS. LICENSEE shall provide COMPANY with samples of all
literature, packages, labels and labeling prepared by the LICENSEE containing
the TRADEMARKS. When using the TRADEMARKS under this Agreement, LICENSEE shall
comply with all laws of the United States and of the states where the Products
are marketed, and LICENSEE shall mark all products utilizing the TRADEMARKS (or
their containers or labels) which are made, sold or otherwise of by it in such a
manner as is required to protect or preserve COMPANY's rights to the TRADEMARKS
under applicable law and/or as is customary in the market for the products.

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8.       NOTICES

         All notices under this Agreement shall be deemed to have ben fully
given when done in writing and deposited in the United States mail, registered
or certified, and addressed as follows:

                  To COMPANY:       SurgiJet, Inc.
                                    34-B Mauchly Street
                                    Irvine, CA  92718

                  To LICENSEE:      VisiJet, Inc.
                                    34-B Mauchly Street
                                    Irvine, CA  92718

         Either party may change its address upon written notice to the other
party.

9.       ASSIGNMENT

         This Agreement may not be assigned.

10.      ARBITRATION

         10.1 Any controversy arising under or related to this Agreement, and
any disputed claim by either parry against the other under this Agreement
excluding any dispute relating to patent validity or infringement wising under
this Agreement, shall be settled by arbitration in accordance with the Licensing
Agreement Arbitration Rules of the Americas Arbitration Association.

         10.2 Upon request by either parry, arbitration will be by third party
arbitrator mutually agreed upon in writing by LICENSEE and COMPANY within thirty
(30) days of such arbitration request. Judgment upon the award rendered by the
arbitrator shall be final and non-appealable and may be entered in any court
having jurisdiction thereof.

         10.3 The parties shall be entitled to discovery in like manner as if
the arbitration were a civil suit in the California Superior Court. The
Arbitrator may limit the scope, time and/or issues involved in discovery.

         10.4 Any arbitration shall be held at the place then designated by the
COMPANY, California, unless the parties hereto mutually agree in writing to
another place.

11.      CONSTRUCTION

         11.1 This Agreement shall be governed by the laws of the United States
and of the state of California applicable to agreements negotiated, executed and
performed wholly within California

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         11.2 The failure of COMPANY to enforce at any time any of the
provisions of this Agreement; or any rights in respect thereto, or to exercise
any election herein provided, shall in no way be considered to be a waiver of
such provisions, rights, or elections or in any way to affect the validity of
this Agreement.

         11.3 It is mutually agreed that this Agreement contains the entire
Agreement between the parties hereto applying to the matters herein contain, and
that the same has been entered into in reliance upon only the provision
contained herein and not upon any representations by either of the parties; that
this Agreement shall supersede all representations, agreements, statements and
understandings relating to such matters made prior to execution of this
Agreement, and that this Agreement can only be amended by an Agreement in
writing executed by all of the parties hereto.

         11.4 The rule of construction that as agreement shall be interpreted
against the drafting party shall not apply to this Agreement. In this Agreement,
whenever the context so requires, the masculine, feminine or neuter gender, and
the singular or plural number or tense, shall include the others.

12.      RELATIONSHIP OF PARTIES

         Each party shall conduct all business in such party's own name as an
independent contractor. No joint venture, partnership, employment, agency or
similar arrangement is hereby created between the parties. Neither party has the
right or power to act for or on behalf of the other or to bind the other in any
respect whatsoever.

13.      SEVERABILITY

         If any :provision of this Agreement is determined to be ill otherwise
unenforceable by a court of competent jurisdiction, the necessary to make such
provision and/or this Agreement legal, valid or otherwise enforceable, such
provision shall be limited, construed or severed and deleted from this
Agreement, and the remaining portion of such provision and the remaining other
provisions hereof shall survive, remain in full force and effect and continue to
be binding, and shall be interpreted to give effect to the intention of the
parties insofar as that is possible.

14.      AMENDMENT AND WAIVER

         Neither this Agreement nor any of its provisions may be amended,
changed, modified or waived except in a writing duly executed by the party to be
bound thereby.

15.      FURTHER ASSURANCES

         The parties shall execute any and all additional documents and
instruments and shall take any and all other actions necessary or desirable to
carry out the intent and purposes of this Agreement.

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16.      COUNTERPARTS

         This Agreement may be executed in one or more counterparts, each of
which shall be deemed to be as original but all of which shall together shall
constitute one and the same agreement.

         IN WITNESS WHEREOF, the parties hereto have executed this Agreement in
duplicate originals by their duly authorized officer or representatives.

SURGIJET, INC.

By: /S/ REX E. DOHERTY
    ------------------
Name: Rex E. Doherty
Title: Chairman

VISIJET, INC.

By: /S/ REX E. DOHERTY
    ------------------
Name: Rex E. Doherty
Title: President

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<PAGE>

                                    EXHIBIT A
                                    ---------

TRADEMARKS OF SURGIJET, INC.:
-----------------------------

Hydrokeratome (R)

Pulsatome (R)

VisiJet (R)

OcuJet (R)

<PAGE>

                                    EXHIBIT B
                                    ---------

         The Licensed Territory is worldwide.<PAGE>

                                                                   EXHIBIT 10.7

THE WARRANT EVIDENCED OR CONSTITUTED HEREBY, AND ALL SHARES OF COMMON STOCK
ISSUABLE HEREUNDER, HAVE BEEN AND WILL BE ISSUED WITHOUT REGISTRATION UNDER THE
SECURITIES ACT OF 1933, AS AMENDED ("THE ACT"), AND MAY NOT BE SOLD, OFFERED FOR
SALE, TRANSFERRED, PLEDGED OR HYPOTHECATED WITHOUT REGISTRATION UNDER THE ACT
UNLESS EITHER (I) THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL, IN FORM AND
SUBSTANCE REASONABLY SATISFACTORY TO THE COMPANY, TO THE EFFECT THAT
REGISTRATION IS NOT REQUIRED IN CONNECTION WITH SUCH DISPOSITION OR (II) THE
SALE OF SUCH SECURITIES IS MADE PURSUANT TO AN EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE ACT.

              WARRANT TO PURCHASE 1,750,000 SHARES OF COMMON STOCK,

                           PAR VALUE $0.001 PER SHARE,

                                       OF

                                  VISIJET, INC.

NO. W-2

         THIS CERTIFIES THAT, for value received, PCL ASSOCIATES, LLC, or its
permitted registered assigns (the "HOLDER"), is entitled, subject to the terms
and conditions of this Warrant, at any time or from time to time after the
relevant effective date described herein, and before 5:00 p.m. Pacific Time on
the Expiration Date (as hereinafter defined), to purchase from VisiJet, Inc., a
California corporation (the "COMPANY"), One Million Seven Hundred and Fifty
Thousand (1,750,000) shares of Common Stock at a price per share equal to the
Purchase Price (as hereinafter defined). Both the number of shares of Common
Stock purchasable upon exercise of this Warrant and the Purchase Price are
subject to adjustment and change as provided herein. This Warrant is issued
pursuant to that certain Common Stock and Warrant Purchase Agreement, dated as
of November 27, 2002 (the "PURCHASE AGREEMENT"), between the Company and the
Holder. Unless otherwise provided for herein, all capitalized terms in this
Warrant shall have the meanings set forth in the Purchase Agreement. The shares
issuable upon the exercise hereof shall be considered "Registrable Shares", as
such term is defined in Registration Rights Agreement (as hereinafter defined).

         1. CERTAIN DEFINITIONS. As used in this Warrant, the following terms
shall have the following respective meanings:

         "AMENDMENT" means an amendment, if required, to the Company's
Certificate of Incorporation increasing the number of authorized shares of
Common Stock by at least such number of shares as shall be sufficient to permit
exercise in full of this Warrant.

<PAGE>

         "COMMON STOCK" means the common stock, par value $0.001 per share, of
the Company and any other securities at any time receivable or issuable upon
exercise of this Warrant.

         "EXPIRATION DATE" shall mean the fifth anniversary of the Merger
Effective Time.

         "FAIR MARKET VALUE" of a share of Common Stock as of a particular date
means the average of the closing prices of sales of Common Stock on all United
Sates securities exchanges on which the Common Stock may at the time be listed,
or, if there have been no sales on any such exchange on any day, the average of
the highest bid and lowest asked prices on all such exchanges at the end of such
day, or, if on any day the Common Stock is not so listed, the average of the
representative bid and asked prices quoted by the Nasdaq Stock Market, Inc.
("Nasdaq") as of 4:00 P.M., New York time, on such day, or, if on any day such
security is not quoted by the Nasdaq, the average of the representative bid and
asked prices quoted on such other electronic communications network (an "ECN")
on which the Common Stock shall then be quoted as of 4:00 P.M., New York time,
on such day, or, if on any day such security is not quoted by any ECN, the
average of the highest bid and lowest asked prices on such day in the domestic
over-the-counter market as reported by the National Quotation Bureau,
Incorporated, or any similar or successor organization, in each such case
averaged over a period of 21 days consisting of the day as of which "Fair Market
Value" is being determined and the 20 consecutive business days prior to such
day; provided, that if there is no active public market, the Fair Market Value
shall be the value thereof, as agreed upon by the Company and the Holder;
PROVIDED, FURTHER, HOWEVER, that if the Company and the Holder cannot agree on
such value, such value shall be determined by an independent valuation firm
experienced in valuing businesses such as the Company and jointly selected in
good faith by the Company and the Holder. Fees and expenses of the valuation
firm shall be paid for by the Company.

         "INITIAL EFFECTIVE DATE" shall mean the date of the Merger Effective
Time.

         "MERGER EFFECTIVE TIME" means the Effective Time, as defined in the
Second Amended and Restated Agreement and Plan of Merger, dated as of December
20, 2002, among Ponte Nossa Acquisition Corp., a Delaware corporation, VisiJet
Acquisition Corporation, a California corporation, and the Company.

         "PURCHASE PRICE" means $1.00 per share; provided, that, the "Purchase
Price" shall automatically increase by $0.50 on the second anniversary of the
Merger Effective Time and each anniversary thereof.

         "REGISTERED HOLDER" means any Holder in whose name this Warrant is
registered upon the books and records maintained by the Company.

         "STOCKHOLDER VOTE" means the approval by the Company's stockholders of
the Amendment.

         "SUBSEQUENT EFFECTIVE DATE" shall mean initially the first anniversary
of the Merger Effective Time, provided, however, that the Holder, by written
notice to the Company on or prior to the Subsequent Effective Date, may on two
occasions delay the Subsequent Effective Date from the date determined pursuant
to this definition to the date six months following the theretofore scheduled
Subsequent Effective Date. For purposes of this Warrant, the Subsequent
Effective Date shall be such earlier date or, if such notice or notices should
be delivered, such later date, as applicable.

                                       2
<PAGE>

         "WARRANT" means this Warrant and any warrant delivered in substitution
or exchange therefor as provided
herein.

         2. EXERCISE OF WARRANT.

                  2.1 PAYMENT. Subject to compliance with the terms and
conditions of this Warrant and applicable securities laws, this Warrant may be
exercised, with respect to 750,000 shares of Common Stock only, in whole or in
part at any time or from time to time, commencing on the later of the Initial
Effective Date and the Stockholder Vote and with respect to the remaining
1,000,000 shares of Common Stock, in whole or in part at any time or from time
to time, commencing on the Subsequent Effective Date and terminating on or
before the Expiration Date by the delivery (including, without limitation,
delivery by facsimile) of the form of Notice of Exercise attached hereto as
EXHIBIT 1 (the "NOTICE OF EXERCISE"), duly executed by the Holder, at the
principal office of the Company, and as soon as practicable after such date (the
"EXERCISE DATE"), surrendering

                           (a) this Warrant at the principal office of the
Company, and

                           (b) payment, (i) in cash (by check) or by wire
transfer, (ii) by cancellation by the Holder of indebtedness of the Company to
the Holder; or (iii) by a combination of (i) and (ii), of an amount equal to the
product obtained by multiplying the number of shares of Common Stock being
purchased upon such exercise by the then effective Purchase Price (the "EXERCISE
AMOUNT").

                  2.2 NET ISSUE EXERCISE. In lieu of the payment methods set
forth in Section 2.1(b) above, the Holder may elect to exchange all or some of
the Warrant for a number of shares (rounded down to the nearest whole share) of
Common Stock equal to the value of the amount of the Warrant being exchanged on
the date of exchange. If the Holder elects to exchange this Warrant as provided
in this Section 2.2, the Holder shall tender to the Company the Warrant with
written notice of the Holder's election to exchange some or all of the Warrant,
and the Company shall issue to the Holder the number of shares (rounded down to
the nearest whole share) of the Common Stock computed as of the date of
surrender of this Warrant to the Company using the following formula:

                                    X = Y (A-B)
                                        -------
                                           A

                  Where:

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

                  Y  =  the number of shares of Common Stock purchasable under
                        the portion of the Warrant being exchanged (as adjusted
                        to the date of such calculation);

                  A  =  the Fair Market Value of one share of the Company's
                        Common Stock on the date the net issue election is made
                        pursuant to Section 2.2; and

                  B  =  Purchase Price in effect under this Warrant on the
                        date the net issue election is made pursuant to Section
                        2.2.

                                       3
<PAGE>

         All references herein to an "exercise" of the Warrant shall include an
exchange pursuant to this Section 2.2.

                  2.3 REDEMPTION OPTION. If the Amendment has not become
effective within six months of the date hereof, in lieu of the exercising this
Warrant pursuant to Section 2.1 or 2.2, the Holder may require the Company to
redeem all or some of the Warrant for an amount equal to the value of the amount
of the Warrant being redeemed. If the Holder elects to require redemption of
this Warrant as provided in this Section 2.3, the Holder shall tender to the
Company the Warrant with written notice of the Holder's election, and the
Company shall purchase from the Holder such portion of the Warrant as is
specified by the Holder for the price computed as of the date of surrender of
this Warrant to the Company using the following formula:

                                    X  = Y (A-B)
                                         -------

                  Where:

                  X  =  Aggregate Purchase Price;

                  Y  =  the number of shares of Common Stock purchasable under
                        the portion of the Warrant being redeemed (as adjusted
                        to the date of such calculation);

                  A  =  the Fair Market Value of one share of the Company's
                        Common Stock on the date the election is made pursuant
                        to Section 2.3; and

                  B  =  Purchase Price in effect under this Warrant on the
                        date the election is made pursuant to Section 2.3.

         All references herein to an "exercise" of the Warrant shall include a
redemption pursuant to this Section 2.3.

                  2.4 STOCK CERTIFICATES; FRACTIONAL SHARES. On or before the
third (3rd) business day following the Exercise Date, the Company shall issue
and deliver to the person or persons entitled to receive the same a certificate
or certificates for the number of whole shares of Common Stock issuable upon
such exercise, rounded down to the nearest whole share. No fractional shares or
scrip representing fractional shares shall be issued upon an exercise of this
Warrant.

                  2.5 PARTIAL EXERCISE; DATE OF EXERCISE. In case of any partial
exercise of this Warrant, the Company shall cancel this Warrant upon surrender
hereof and shall execute and deliver a new Warrant of like tenor and date for
the balance of the shares of Common Stock purchasable hereunder. This Warrant
shall be deemed to have been exercised immediately prior to the close of
business on the date of its surrender for exercise as provided above. The person
entitled to receive the shares of Common Stock issuable upon exercise of this
Warrant shall be treated for all purposes as the holder of record of such shares
as of the close of business on the date the Holder is deemed to have exercised
this Warrant.

         3. VALID ISSUANCE: TAXES. All shares of Common Stock issued upon the
exercise of this Warrant shall be validly issued, fully paid and non-assessable,
free and clear of all liens, security interests, charges and other encumbrances

                                       4
<PAGE>

or restrictions on sale and free and clear of all preemptive rights, except
encumbrances or restrictions arising under federal or state securities laws, and
the Company shall pay all transfer or stamp taxes and other similar governmental
charges that may be imposed in respect of the issue or delivery thereof. The
Company shall not be required to pay any tax or other charge imposed in
connection with any transfer involved in the issuance of any certificate for
shares of Common Stock in any name other than that of the Registered Holder of
this Warrant, and in such case the Company shall not be required to issue or
deliver any stock certificate or security until such tax or other charge has
been paid, or it has been established to the Company's reasonable satisfaction
that no tax or other charge is due.

         4. ADJUSTMENT OF PURCHASE PRICE AND NUMBER OF SHARES. The number of
shares of Common Stock issuable upon exercise of this Warrant (or any shares of
stock or other securities or property receivable or issuable upon exercise of
this Warrant) and the Purchase Price are subject to adjustment upon occurrence
of the following events:

                  4.1 ADJUSTMENT FOR STOCK SPLITS, STOCK SUBDIVISIONS OR
COMBINATIONS OF SHARES. The Purchase Price of this Warrant shall be
proportionally decreased and the number of shares of Common Stock issuable upon
exercise of this Warrant (or any shares of stock or other securities at the time
issuable upon exercise of this Warrant) shall be proportionally increased to
reflect any stock split or subdivision of the Company's Common Stock. The
Purchase Price of this Warrant shall be proportionally increased and the number
of shares of Common Stock issuable upon exercise of this Warrant (or any shares
of stock or other securities at the time issuable upon exercise of this Warrant)
shall be proportionally decreased to reflect any combination of the Company's
Common Stock.

                  4.2 ADJUSTMENT FOR DIVIDENDS OR DISTRIBUTIONS OF STOCK OR
OTHER SECURITIES OR PROPERTY. In case the Company shall make or issue, or shall
fix a record date for the determination of eligible holders entitled to receive,
a dividend or other distribution with respect to the Common Stock (or any shares
of stock or other securities at the time issuable upon exercise of the Warrant)
payable in (a) securities of the Company or (b) assets (excluding cash dividends
paid or payable solely out of retained earnings), then, in each such case, the
Holder of this Warrant on exercise hereof at any time after the consummation,
effective date or record date of such dividend or other distribution, shall
receive, in addition to the shares of Common Stock (or such other stock or
securities) issuable on such exercise prior to such date, and without the
payment of additional consideration therefor, the securities or such other
assets of the Company to which such Holder would have been entitled upon such
date if such Holder had exercised this Warrant on the date hereof and had
thereafter, during the period from the date hereof to and including the date of
such exercise, retained such shares and/or all other additional stock available
by it as aforesaid during such period giving effect to all adjustments called
for by this Section 4.

                  4.3 RECLASSIFICATION. If the Company, by reclassification of
securities or otherwise, shall change any of the securities as to which purchase
rights under this Warrant exist into the same or a different number of
securities of any other class or classes, this Warrant shall thereafter
represent the right to acquire such number and kind of securities as would have
been issuable as the result of such change with respect to the securities that
were subject to the purchase rights under this Warrant immediately prior to such
reclassification or other change and the Purchase Price therefore shall be
appropriately adjusted, all subject to further adjustment as provided in this
Section 4.

                                       5
<PAGE>

                  4.4 ADJUSTMENT FOR CAPITAL REORGANIZATION, MERGER OR
CONSOLIDATION. In case of any capital reorganization of the capital stock of the
Company (other than a combination, reclassification, exchange or subdivision of
shares otherwise provided for in this Section 4), or any merger or consolidation
of the Company with or into another corporation, or the sale of all or
substantially all the assets of the Company then, and in each such case, and as
a part of such reorganization, merger, consolidation, sale or transfer, lawful
provision shall be made so that the Holder of this Warrant shall thereafter be
entitled to receive upon exercise of this Warrant, upon payment of the Purchase
Price then in effect, the number of shares of stock or other securities or
property of the successor corporation resulting from such reorganization,
merger, consolidation, sale or transfer that a holder of the shares deliverable
upon exercise of this Warrant would have been entitled to receive in such
reorganization, consolidation, merger, sale or transfer if this Warrant had been
exercised immediately before such reorganization, merger, consolidation, sale or
transfer, all subject to further adjustment as provided in this Section 4. The
foregoing provisions of this Section 4.4 shall similarly apply to successive
reorganizations, consolidations, mergers, sales and transfers and to the stock
or securities of any other corporation that are at the time receivable upon the
exercise of this Warrant. If the per-share consideration payable to the Holder
hereof for shares in connection with any such transaction is in a form other
than cash or marketable securities, then the value of such consideration shall
be determined in good faith by the Company's Board of Directors. In all events,
appropriate adjustment (as determined in good faith by the Company's Board of
Directors) shall be made in the application of the provisions of this Warrant
with respect to the rights and interests of the Holder after the transaction, to
the end that the provisions of this Warrant shall be applicable after that
event, as near as reasonably may be, in relation to any shares or other property
deliverable after that event upon exercise of this Warrant.

                  4.5 COMPANY TO PREVENT DILUTION The Company shall not by any
action, including, without limitation, amending its articles of incorporation or
through any reorganization, transfer of assets, consolidation, merger,
dissolution, issuance or sale of securities or any other voluntary action, avoid
or seek to avoid the observance or performance of any of the terms of this
Warrant, but will at all times in good faith assist in the carrying out of all
such terms and in the taking of all such actions as may be necessary or
appropriate to protect the rights of the Holder against impairment. Without
limiting the generality of the foregoing, Company will take all such action as
may be necessary or appropriate in order that Company may upon the exercise of
this Warrant validly and legally issue fully paid and nonassessable shares of
Common Stock that are not subject to preemptive rights, including taking such
action as is necessary for the Purchase Price to be not less than the par value
of the shares of Common Stock issuable upon exercise of this Warrant.

                  4.6 CONVERSION OF COMMON STOCK. In case all or any portion of
the authorized and outstanding shares of Common Stock of the Company are
redeemed or converted or reclassified into other securities or property pursuant
to the Company's Certificate of Incorporation or otherwise, or the Common Stock
otherwise ceases to exist, then, in such case, the Holder of this Warrant, upon
exercise hereof at any time after the date on which the Common Stock is so
redeemed or converted, reclassified or ceases to exist (the "TERMINATION DATE"),
shall receive, in lieu of the number of shares of Common Stock that would have
been issuable upon such exercise immediately prior to the Termination Date, the
securities or property that would have been received if this Warrant had been
exercised in full and the Common Stock received thereupon had been
simultaneously converted immediately prior to the Termination Date, all subject
to further adjustment as provided in this Warrant. Additionally, the Purchase
Price shall be immediately adjusted to equal the quotient obtained by dividing

                                       6
<PAGE>

(x) the aggregate Purchase Price of the maximum number of shares of Common Stock
for which this Warrant was exercisable immediately prior to the Termination Date
by (y) the number of shares of Common Stock of the Company for which this
Warrant is exercisable immediately after the Termination Date, all subject to
further adjustment as provided herein.

         5. CERTIFICATE AS TO ADJUSTMENTS. In each case of any adjustment in the
Purchase Price, or number or type of shares issuable upon exercise of this
Warrant, the Chief Financial Officer of the Company shall compute such
adjustment in accordance with the terms of this Warrant and prepare a
certificate setting forth such adjustment and showing in detail the facts upon
which such adjustment is based, including a statement of the adjusted Purchase
Price. The Company shall promptly send (by facsimile and by either first class
mail, postage prepaid or overnight delivery) a copy of each such certificate to
the Holder.

         6. LOSS OR MUTILATION. Upon receipt of evidence reasonably satisfactory
to the Company of the ownership of and the loss, theft, destruction or
mutilation of this Warrant, and of indemnity reasonably satisfactory to it, and
(in the case of mutilation) upon surrender and cancellation of this Warrant, the
Company will execute and deliver in lieu thereof a new Warrant of like tenor as
the lost, stolen, destroyed or mutilated Warrant.

         7. RESERVATION OF COMMON STOCK. The Company covenants that it will take
all necessary and desirable actions within its control (including, without
limitation, calling special meetings of the Company's stockholders and Board of
Directors) to cause the Stockholders to approve the Amendment. The Company
hereby covenants that at all times after the Stockholder Vote, there shall be
reserved for issuance and delivery upon exercise of this Warrant such number of
shares of Common Stock or other shares of capital stock of the Company as are
from time to time issuable upon exercise of this Warrant and, from time to time,
will take all steps necessary to amend its Certificate of Incorporation to
provide sufficient reserves of shares of Common Stock issuable upon exercise of
this Warrant. All such shares shall be duly authorized, and when issued upon
such exercise, shall be validly issued, fully paid and non-assessable, free and
clear of all liens, security interests, charges and other encumbrances or
restrictions on sale and free and clear of all preemptive rights, except
encumbrances or restrictions arising under federal or state securities laws.
Issuance of this Warrant shall constitute full authority to the Company's
officers who are charged with the duty of executing stock certificates to
execute and issue the necessary certificates for shares of Common Stock upon the
exercise of this Warrant.

         8. TRANSFER AND EXCHANGE. Subject to the terms and conditions of this
Warrant and compliance with all applicable securities laws, this Warrant and all
rights hereunder (and any shares of Common Stock acquired on exercise of the
Warrant) may be transferred, in whole or in part, only (a) to one or more of its
affiliates if such affiliate is an "accredited investor" under Regulation D
under the Securities Act and agrees to be bound by the terms and obligations of
this Warrant and the Agreement, (b) in a sale effectuated pursuant to Rule 144
promulgated under the Securities Act, (c) in an offering registered under
Section 5 of the Securities Act, or (d) in a private transaction otherwise
exempt from registration under the Securities Act. Any such transfer shall be
made on the books of the Company maintained for such purpose at the principal
office of the Company referred to above, by the Registered Holder hereof in
person, or by duly authorized attorney, upon surrender of this Warrant properly
endorsed and upon payment of any necessary transfer tax or other governmental
charge imposed upon such transfer. Upon any permitted partial transfer of the

                                       7
<PAGE>

Warrant, the Company will issue and deliver to the Registered Holder a new
Warrant or Warrants with respect to the shares of Common Stock not so
transferred. Each taker and holder of this Warrant, by taking or holding the
same, consents and agrees that when this Warrant shall have been so endorsed,
the person in possession of this Warrant may be treated by the Company, and all
other persons dealing with this Warrant, as the absolute owner hereof for any
purpose and as the person entitled to exercise the rights represented hereby,
any notice to the contrary notwithstanding; PROVIDED, HOWEVER, that until a
transfer of this Warrant is duly registered on the books of the Company, the
Company may treat the Registered Holder hereof as the owner for all purposes.
Upon any full or partial transfer of the Warrant or the shares of Common Stock
acquired on exercise of the Warrant pursuant to clause (b) or clause (c) of the
first sentence of this Section 9.1, all restrictions applicable to the transfer
of the Warrant or such Common Stock, or portion thereof, so transferred shall
cease.

         9. SECURITIES LAW RESTRICTIONS ON TRANSFER. The Holder, by acceptance
hereof, agrees that, absent an effective registration statement filed with the
SEC under the Securities Act covering the disposition or sale of this Warrant or
the Common Stock issued or issuable upon exercise hereof, and registration or
qualification under applicable state securities laws, such Holder will not sell,
transfer, pledge, or hypothecate any or any portion of this Warrant or Common
Stock, as the case may be, unless either (i) the Company has received an opinion
of counsel, in form and substance reasonably satisfactory to the Company, to the
effect that such registration is not required in connection with such
disposition or (ii) the sale of such securities is made pursuant to Rule 144.

         10. COMPLIANCE WITH SECURITIES LAWS. By acceptance of this Warrant, the
Holder hereby represents, warrants and covenants that any shares of Common Stock
purchased upon exercise of this Warrant or acquired upon conversion thereof
shall be acquired not with a view to, or for sale in connection with, any
distribution thereof; that the Holder has had such opportunity as such Holder
has deemed adequate to obtain from representatives of the Company such
information as is necessary to permit the Holder to evaluate the merits and
risks of its investment in the Company; that the Holder is able to bear the
economic risk of holding such shares as may be acquired pursuant to the exercise
of this Warrant for an indefinite period; that the Holder understands that the
shares of Common Stock acquired pursuant to the exercise of this Warrant will
not be registered under the Securities Act (unless otherwise required pursuant
to the Registration Rights Agreement) and will be "restricted securities" within
the meaning of Rule 144 under the Securities Act and that the exemption from
registration under Rule 144 will not be available for at least one year from the
date of exercise of this Warrant, subject to any special treatment by the SEC
for exercise of this Warrant pursuant to Section 2.2, and even then will not be
available unless a public market then exists for the Common Stock, adequate
information concerning the Company is then available to the public, and other
terms and conditions of Rule 144 are complied with; and that all stock
certificates representing shares of Common Stock issued to the Holder upon
exercise of this Warrant may have affixed thereto a legend substantially in the
following form:

         THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
         UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR WITH ANY
         STATE SECURITIES COMMISSION, AND MAY NOT BE TRANSFERRED OR DISPOSED OF
         BY THE HOLDER IN THE ABSENCE OF A REGISTRATION STATEMENT WHICH IS
         EFFECTIVE UNDER THE ACT AND APPLICABLE STATE LAWS AND RULES, OR,

                                       8
<PAGE>

         UNLESS, IMMEDIATELY PRIOR TO THE TIME SET FOR TRANSFER, SUCH TRANSFER
         MAY BE EFFECTED WITHOUT VIOLATION OF THE ACT AND OTHER APPLICABLE STATE
         LAWS AND RULES.

In addition, the Holder agrees that the Company may place stop transfer orders
with its transfer agents with respect to such certificates. Notwithstanding the
foregoing, it is agreed that, as long as (A) the resale or transfer (including
without limitation a pledge) of Warrant Shares is registered pursuant to an
effective registration statement and the Holder represents in writing to the
Company that such Warrant Shares have been or are being sold pursuant to such
registration statement, (B) such Warrant Shares have been publicly sold pursuant
to Rule 144 and the Holder has delivered to the Company customary Rule 144
broker's and seller's representation letters, or (C) such Warrant Shares can be
publicly sold pursuant to Rule 144(k) under the Securities Act or another
exemption from the registration requirements of such Act, such Warrant Shares,
as the case may be, shall be issued without any legend or other restrictive
language and, with respect to Warrant Shares upon which such legend is stamped,
the Company shall issue new certificates without such legend to the holder
promptly upon request.

         11. NO RIGHTS OR LIABILITIES AS STOCKHOLDERS. This Warrant shall not
entitle the Holder to any voting rights or other rights as a stockholder of the
Company. In the absence of affirmative action by such Holder to purchase Common
Stock by exercise of this Warrant, no provisions of this Warrant, and no
enumeration herein of the rights or privileges of the Holder hereof shall cause
such Holder hereof to be a stockholder of the Company for any purpose.

         12. NOTICES. All notices and other communications from the Company to
the Holder shall be given in accordance with the Agreement.

         13. HEADINGS. The headings in this Warrant are for purposes of
convenience in reference only, and shall not be deemed to constitute a part
hereof.

         14. LAW GOVERNING. This Warrant shall be construed and enforced in
accordance with, and governed by, the laws of the State of Delaware, without
giving effect to principles of conflicts of laws.

         15. NO IMPAIRMENT. The Company will not, by amendment of its
Certificate of Incorporation or bylaws, or through reorganization,
consolidation, merger, dissolution, issue or sale of securities, sale of assets
or any other voluntary action, avoid or seek to avoid the observance or
performance of any of the terms of this Warrant, but will at all times in good
faith assist in the carrying out of all such terms and in the taking of all such
action as may be necessary or appropriate in order to protect the rights of the
Registered Holder of this Warrant against impairment. Without limiting the
generality of the foregoing, the Company (a) will not increase the par value of
any shares of stock issuable upon the exercise of this Warrant above the amount
payable therefor upon such exercise, and (b) will take all such action as may be
necessary or appropriate in order that the Company may validly and legally issue
fully paid and non-assessable shares of Common Stock upon exercise of this
Warrant.

                                       9
<PAGE>

         16. NOTICES OF RECORD DATE. In case:

                  16.1 the Company shall take a record of the holders of its
Common Stock (or other stock or securities at the time receivable upon the
exercise of this Warrant), for the purpose of entitling them to receive any
dividend or other distribution, or any right to subscribe for or purchase any
shares of stock of any class or any other securities or to receive any other
right; or

                  16.2 of any consolidation or merger of the Company with or
into another corporation, any capital reorganization of the Company, any
reclassification of the capital stock of the Company, or any conveyance of all
or substantially all of the assets of the Company to another corporation in
which holders of the Company's stock are to receive stock, securities or
property of another corporation; or

                  16.3 of any voluntary dissolution, liquidation or winding-up
of the Company; or

                  16.4 of any redemption or conversion of all outstanding Common
Stock;
                      then, and in each such case, the Company will mail or
                      cause to be mailed to the Registered Holder of this
                      Warrant a notice specifying, as the case may be, (i) the
                      date on which a record is to be taken for the purpose of
                      such dividend, distribution or right, or (ii) the date on
                      which such reorganization, reclassification,
                      consolidation, merger, conveyance, dissolution,
                      liquidation, winding-up, redemption or conversion is to
                      take place, and the time, if any is to be fixed, as of
                      which the holders of record of Common Stock (or such stock
                      or securities as at the time are receivable upon the
                      exercise of this Warrant) shall be entitled to exchange
                      their shares of Common Stock (or such other stock or
                      securities), for securities or other property deliverable
                      upon such reorganization, reclassification, consolidation,
                      merger, conveyance, dissolution, liquidation or
                      winding-up. Such notice shall be delivered at least twenty
                      (20) days prior to the date therein specified.

         17. SEVERABILITY. If any term, provision, covenant or restriction of
this Warrant is held by a court of competent jurisdiction to be invalid, void or
unenforceable, the remainder of the terms, provisions, covenants and
restrictions of this Agreement shall remain in full force and effect and shall
in no way be effected, impaired or invalidated.

         18. COUNTERPARTS. For the convenience of the parties, any number of
counterparts of this Warrant may be executed by the parties hereto and each such
executed counterpart shall be, and shall be deemed to be, an original
instrument.

         19. NO INCONSISTENT AGREEMENTS. The Company will not on or after the
date of this Warrant enter into any agreement with respect to its securities
which is inconsistent with the rights granted to the Holder of this Warrant or
otherwise conflicts with the provisions hereof. The rights granted to the Holder
hereunder do not in any way conflict with and are not inconsistent with the
rights granted to holders of the Company's securities under any other
agreements, except rights that have been waived.

                                       10
<PAGE>

         20. SATURDAYS, SUNDAYS AND HOLIDAYS. If the Expiration Date falls on a
Saturday, Sunday or legal holiday, the Expiration Date shall automatically be
extended until 5:00 p.m. the next business day.

            [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

                                       11
<PAGE>

IN WITNESS WHEREOF, the parties hereto have executed this Warrant as of the 11th
day of February, 2003.

_______________________________________         VISIJET, INC.
         PCL ASSOCIATES, LLC

                                                By: /S/ LANCE DOHERTY
By:____________________________________            -------------------
                                                Name:  LANCE DOHERTY
Name:__________________________________                ---------------
                                                Title: President
Title:_________________________________

                            SIGNATURE PAGE TO WARRANT
<PAGE>

                                    EXHIBIT 1
                                    ---------

                               NOTICE OF EXERCISE
                               ------------------

                    (TO BE EXECUTED UPON EXERCISE OF WARRANT)

                          VISIJET, INC. WARRANT NO. 2

The undersigned hereby irrevocably elects to exercise the right of purchase
represented by the within Warrant for, and to purchase thereunder, the
securities of VisiJet, Inc., as provided for therein, and (check the applicable
box):

         |_| Tenders herewith payment of the exercise price in full in the form
of cash or a certified or official bank check in same-day funds in the amount of
$____________ for _________ shares of such securities.

         |_| Elects the Net Issue Exercise option pursuant to Section 2.2 of the
Warrant, and accordingly requests delivery of a net of ______________ shares of
such securities, according to the following calculation:

                        X = Y (A-B)     (       ) =  (____) [(_____) - (_____)]
                            -------                    (_____)
                               A
                  Where:

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

                  Y = the number of shares of Common Stock purchasable under
                      the portion of the Warrant being exchanged (as adjusted to
                      the date of such calculation);

                  A = the Fair Market Value of one share of the Company's
                      Common Stock on the date the net issue election is made
                      pursuant to Section 2.2; and

                  B = Purchase Price in effect under this Warrant on the date
                      the net issue election is made pursuant to Section 2.2.

         Please issue a certificate or certificates for such securities in the
name of, and pay any cash for any fractional share to (please print name,
address and taxpayer identification number):

Name:____________________________________________________

Address:_________________________________________________

Taxpayer Identification Number:__________________________

Signature:_______________________________________________

         Note: The above signature should correspond exactly with the name on
the first page of this Warrant or with the name of the assignee appearing in the
assignment form below.

         If said number of shares shall not be all the shares purchasable under
the within Warrant, a new Warrant is to be issued in the name of said
undersigned for the balance remaining of the shares purchasable thereunder
rounded up to the next higher whole number of shares.

<PAGE>

                                    EXHIBIT 2
                                    ---------

                                   ASSIGNMENT
                                   ----------

(TO BE EXECUTED ONLY UPON ASSIGNMENT OF WARRANT)                  WARRANT NO. 2

For value received, the undersigned hereby sells, assigns and transfers unto
________________ the within Warrant, together with all right, title and interest
therein, and does hereby authorize _____________ to transfer said Warrant on the
books of VisiJet, Inc. with respect to the number of shares set forth below,
with full power of substitution in the premises:

----------------------------- ------------------------------- ------------------
    NAME(S) OF ASSIGNEE(S)                ADDRESS                # OF SHARES
----------------------------- ------------------------------- ------------------

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

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

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

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

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

         If said number of shares shall not be all the shares represented by the
Warrant, a new Warrant is to be issued in the name of said undersigned for the
balance remaining of the shares covered by said Warrant.

Dated:_________________________________________

Signature:_____________________________________

         Notice: The signature to the foregoing Assignment must correspond to
the name as written upon the face of this security in every particular, without
alteration or any change whatsoever; signature(s) must be guaranteed by an
eligible guarantor institution (banks, stock brokers, savings and loan
associations and credit unions with membership in an approved signature
guarantee medallion program) pursuant to Securities and Exchange Commission Rule
17Ad-15.

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