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                                                                   EXHIBIT 10.17

                           COLLATERAL PROMISSORY NOTE

$5,104,593.75                                                    January__, 2005

     FOR VALUE RECEIVED, Epixtar Corp., a Florida corporation ("Epixtar" or the
"Maker"), hereby promises to pay to (i) Steve Rasmussen, David Mullaney and Brad
Yeater (the "Holder" or "Holders") according to the Percentages (as hereinafter
defined) set forth below the principal sum of Five Million One Hundred Four
Thousand Five Hundred Ninety Three Dollars and Seventy Five Cents
($5,104,593.75) in lawful money of the United States of America, subject to the
terms and conditions of the Subordination Agreement executed by Holders on
January 3, 2005. The Maker shall pay to each Holder directly, pursuant to
payment instructions given by each Holder at the closing of the purchase and
sale of Innovative Marketing Strategies, Inc. ("IMS"), his corresponding
Percentage of each payment made pursuant to this non-interest bearing Collateral
Promissory Note (the "Note"), and the Percentages of each of the Holders shall
be as set forth below:

Steve Rasmussen                     70%
Brad Yeater                         21.1%
David Mullaney                      8.9%

     This Note is issued pursuant to an Acquisition Agreement dated as of
November 29, 2004, among Epixtar and each Holder (the "Acquisition Agreement"),
subject to set-offs as set forth in Article 10 thereof.

     The amount shall be paid in twenty-four (24) monthly installments of Two
Hundred Twelve Thousand Six Hundred Ninety One Dollars and Forty One Cents
($212,691.41). beginning thirty (30) days after the closing date and thereafter
on the same corresponding day of the month that the closing occurred, or next
business day if said date falls on a weekend or holiday.

     All payments on this Note shall be made directly to each Holder and at such
place in the United States of America as each Holder shall designate to the
Maker in writing at the closing of the Acquisition Agreement. If any payment on
this Note is due on a day that is not a business day, such payment shall be due
on the next succeeding business day. To secure the payment of all the
indebtedness under this Note, the shares of IMS have been placed in escrow and
Maker has agreed to grant a security interest in the Shares pursuant to a Pledge
and Escrow Agreement dated of even date herewith.

     The Maker may, without premium or penalty, at any time from time to time,
prepay all or any portion of the outstanding balance due under this Note. Such
prepayments shall be credited to succeeding installments due in chronological
order or as the case may be.

Each of the following, if uncured, shall constitute an "Event of Default" under
this Note: failure of the Maker to make any payment under this Note when due; or
the appointment of a receiver for any part of Maker's property, any assignment
for the benefit of Maker's creditors or the commencement of any proceeding under
any bankruptcy or insolvency laws by or against Maker, any of which are not
dismissed within sixty (60) days; or a default under any other agreements
between Maker and Holders that is not cured within any applicable cure period

     Maker shall have fifteen (15) business days after receipt of written notice
from Holder of an Event of Default in which to cure the stated Event of Default.
If Maker cures the stated Event of Default within the allotted fifteen (15) day
cure period, the cured Event of Default will be deemed to have not occurred.
Upon the occurrence of an Event of Default Holder may, by notice in writing to
Maker (the "Acceleration Notice"), declare the entire principal amount of this
note and all accrued interest to be immediately due and payable without
presentment, demand, protest or any notice of any kind, all of which are hereby
expressly waived.

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     Upon the occurrence or existence of an Event of Default, all outstanding
principal of this Note shall be due and payable immediately, (i) without notice
of default, declaration of acceleration of the amount, or other act on the part
of the Holders and without the need for any consent thereto and (ii) without
presentment, demand, protest or any notice of any kind, all of which are hereby
expressly waived by the Maker. Upon the occurrence of an Event of Default
hereunder, any Holder may exercise any and all rights and remedies available to
it under applicable law, including without limitation the right to collect from
the Maker all sums due under this Note. The Maker shall be obligated to pay all
reasonable costs and expenses, including attorneys' fees and costs, incurred by
or behalf of any Holder in connection with any Holder's exercise of any or all
of his rights and remedies under this Note, including without limitation any
investigation by, enforcement by, or proceeding in connection with the rights
of, a Holder under this Note.

     The provisions of this Note may be changed only by a written agreement
executed by the Maker and by each Holder. This Note shall be binding on the
Maker and the successors and assigns of Maker, and shall inure to the benefit of
the Holders, their heirs, successors and assigns.

     The rights and remedies of a Holder under this Note shall be cumulative and
not alternative. No waiver by a Holder of any right or remedy under this Note
shall be effective unless in writing signed by a Holder. Neither the failure nor
any delay in exercising any right, power or privilege under this Note will
operate as a waiver of such right, power or privilege, and no single or partial
exercise of any such right, power or privilege by a Holder will preclude any
other or further exercise of such right, power or privilege or the exercise of
any other right, power or privilege. To the maximum extent permitted by
applicable law, (a) no claim or right of a Holder arising out of this Note can
be discharged by Holder, in whole or in part, by a waiver or renunciation of the
claim or right unless in a writing signed by Holder; (b) no waiver that may be
given by a Holder will be applicable except in the specific instance for which
it is given; and (c) no notice to or demand on the Maker will be deemed to be a
waiver of any obligation of the Maker or of the right of a Holder to take
further action without notice or demand as provided in this Note.

     Any Holder may sell, assign, pledge or otherwise transfer all or any
portion of its interest in this Note at any time or from time to time without
prior notice to, or consent of, and without releasing any party liable or
becoming liable hereon.

     If any provision in this Note is held invalid or unenforceable by any court
of competent jurisdiction, the other provisions of this Note will remain in full
force and effect. Any provision of this Note held invalid or unenforceable only
in part or degree will remain in full force and effect to the extent not held
invalid or unenforceable.

     This Note shall be construed pursuant to the laws of the State of Florida
and any action to enforce or interpret this Note may be brought in any court or
other forum with competent jurisdiction. In connection with, and
notwithstanding, the foregoing, the Maker specifically consents to any state or
federal court of competent jurisdiction in the State of Florida and irrevocably
waives any claim or defense of inconvenient forum or lack of personal
jurisdiction in such forum or right of removal or right of jury trial under any
applicable law or decision (or both).

         This Note is executed on _____________ [date].

Epixtar Corp.

By___________________

Name:
Title:

Title:

                                       2EXHIBIT
4.5

 

Warrant No. 2005A-_____

 

HANA
BIOSCIENCES, INC.

COMMON
STOCK WARRANT

THIS
WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “ACT”), OR
UNDER THE SECURITIES LAWS OF ANY STATE. THIS WARRANT IS SUBJECT TO RESTRICTIONS
ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS
PERMITTED UNDER THE ACT AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO
REGISTRATION OR EXEMPTION THEREFROM. THE ISSUER OF THIS WARRANT MAY REQUIRE AN
OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE
EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE ACT AND
ANY APPLICABLE STATE SECURITIES LAWS. 

This
certifies that [_______________]
(the
“Holder”), or
assigns, for value received, is entitled to purchase from Hana Biosciences,
Inc., a Delaware corporation (the “Company”),
subject to the terms set forth below, a maximum of [_____________]
fully-paid and nonassessable shares (subject to adjustment as provided herein)
(the “Warrant
Shares”) of the
Company’s Common Stock, $.001 par value per share (the “Common
Stock”), for
cash at a price of $1.57 per share (subject to adjustment as provided herein)
(the “Exercise
Price”) at any
time or from time to time up to and including 5:00 p.m. (Eastern Time) on April
22, 2010 (the “Expiration
Date”),
subject to the Company’s right to redeem this Warrant as described in Section 4
hereof, upon surrender to the Company at its principal office (or at such other
location as the Company may advise the Holder in writing) of this Warrant
properly endorsed with the Form of Subscription attached hereto duly completed
and signed and upon payment of the aggregate Exercise Price for the number of
shares for which this Warrant is being exercised determined in accordance with
the provisions hereof. The Exercise Price is subject to adjustment as provided
in Section 3 of this Warrant. This Warrant is issued subject to the following
terms and conditions:

 

1. Exercise,
Issuance of Certificates. Subject
to Section 4 hereof, the Holder may exercise this Warrant at any time or from
time to time on or prior to the Expiration Date for all or any part of the
Warrant Shares (but not for a fraction of a share) that may be purchased
hereunder, as that number may be adjusted pursuant to Section 3 of this Warrant.
The Company agrees that the Warrant Shares purchased under this Warrant shall be
and are deemed to be issued to the Holder hereof as the record owner of such
Warrant Shares as of the close of business on the date on which this Warrant
shall have been surrendered, properly endorsed, the completed and executed Form
of Subscription delivered, and payment made for such Warrant Shares (such date,
a “Date
of Exercise”).
Certificates for the Warrant Shares so purchased, together with any other
securities or property to which the Holder hereof is entitled upon such
exercise, shall be delivered to the Holder hereof by the Company at the
Company’s expense as soon as practicable after the rights represented by this
Warrant have been so exercised, but in any event not later than three (3)
business days following the Date of Exercise. In case of a purchase of less than
all the Warrant Shares which may be purchased under this Warrant, the Company
shall cancel this Warrant and execute and deliver to the Holder hereof within a
reasonable time a new Warrant or Warrants of like tenor for the balance of the
Warrant Shares purchasable under the Warrant surrendered upon such purchase.
Each stock certificate so delivered shall be registered in the name of such
Holder and issued with a legend in substantially the form of the legend placed
on the from of this Warrant. 

 

(a) The
Company’s obligations to issue and deliver Warrant Shares in accordance with the
terms hereof are absolute and unconditional, irrespective of any action or
inaction by the Holder to enforce the same. Nothing herein shall limit a
Holder’s right to pursue any other remedies available to it hereunder, at law or
in equity including, without limitation, a decree of specific performance and/or
injunctive relief with respect to the Company’s failure to timely deliver
certificates representing shares of Common Stock upon exercise of the Warrant as
required pursuant to the terms hereof.

 

(b) Payment
of Exercise Price. The
Holder shall pay the Exercise Price by delivering immediately available funds to
the Company.

 

2. Shares
to be Fully Paid; Reservation of Shares. The
Company covenants and agrees that all Warrant Shares, will, upon issuance and,
if applicable, payment of the applicable Exercise Price, be duly authorized,
validly issued, fully paid and nonassessable, and free of all preemptive rights,
liens and encumbrances, except for restrictions on transfer provided for herein.
The Company shall at all times reserve and keep available out of its authorized
and unissued Common Stock, solely for the purpose of providing for the exercise
of the rights to purchase all Warrant Shares granted pursuant to this Warrant,
such number of shares of Common Stock as shall, from time to time, be sufficient
therefor.

 

 

 

3. Adjustment
of Exercise Price and Number of Shares. The
Exercise Price and the total number of Warrant Shares shall be subject to
adjustment from time to time upon the occurrence of certain events described in
this Section 3.

 

(a) Subdivision
or Combination of Stock. In the
event the outstanding shares of the Company’s Common Stock shall be increased by
a stock dividend payable in Common Stock, stock split, subdivision, or other
similar transaction occurring after the date hereof into a greater number of
shares of Common Stock, the Exercise Price in effect immediately prior to such
subdivision shall be proportionately reduced and the number of Warrant Shares
issuable hereunder proportionately increased. Conversely, in the event the
outstanding shares of the Company’s Common Stock shall be decreased by reverse
stock split, combination, consolidation, or other similar transaction occurring
after the date hereof into a lesser number of shares of Common Stock, the
Exercise Price in effect immediately prior to such combination shall be
proportionately increased and the number of Warrant Shares issuable hereunder
proportionately decreased.

 

(b) Reclassification. If any
reclassification of the capital stock of the Company or any reorganization,
consolidation, merger, or any sale, lease, license, exchange or other transfer
(in one transaction or a series of related transactions) of all or substantially
all, of the business and/or assets of the Company (the “Reclassification
Events”) shall
be effected in such a way that holders of Common Stock shall be entitled to
receive stock, securities, or other assets or property, then, as a condition of
such Reclassification Event lawful and adequate provisions shall be made whereby
the Holder hereof shall thereafter have the right to purchase and receive (in
lieu of the shares of Common Stock of the Company immediately theretofore
purchasable and receivable upon the exercise of the rights represented hereby)
such shares of stock, securities, or other assets or property as may be issued
or payable with respect to or in exchange for a number of outstanding shares of
such Common Stock equal to the number of shares of such stock immediately
theretofore purchasable and receivable upon the exercise of the rights
represented hereby. In any Reclassification Event, appropriate provision shall
be made with respect to the rights and interests of the Holder of this Warrant
to the end that the provisions hereof (including, without limitation, provisions
for adjustments of the Exercise Price and of the number of Warrant Shares),
shall thereafter be applicable, as nearly as may be, in relation to any shares
of stock, securities, or assets thereafter deliverable upon the exercise
hereof.

 

(c) Notice
of Adjustment. Upon
any adjustment of the Exercise Price or any increase or decrease in the number
of Warrant Shares, the Company shall give written notice thereof, by first class
mail postage prepaid, addressed to the registered Holder of this Warrant at the
address of such Holder as shown on the books of the Company. The notice shall be
prepared and signed by the Company’s Chief Financial Officer and shall state the
Exercise Price resulting from such adjustment and the increase or decrease, if
any, in the number of shares purchasable at such price upon the exercise of this
Warrant, setting forth in reasonable detail the method of calculation and the
facts upon which such calculation is based. 

 

4. Redemption
of Warrants.

(a)  Redemption. This
Warrant may be redeemed at the option of the Company, at any time after the date
hereof following a period of thirty (30) consecutive calendar days in which the
per share average closing sale price of the Common Stock equals or exceeds an
amount that is two hundred percent (200%) of the Exercise Price, on notice as
set forth in Section 4(b) hereof, and at a redemption price equal to one-tenth
of one cent ($0.001) (the “Redemption
Price”) for
each Warrant Share purchasable under this Warrant; provided,
however, that
this Warrant may not be redeemed by the Company unless the resale of the Warrant
Shares purchasable hereunder has been registered under the Securities Act of
1933, as amended (the “Act”) or are
otherwise freely tradable. For purposes of this Section, the closing sale price
of the Common Stock shall be determined by the closing price as reported by the
Over-the-Counter Bulletin Board (the “OTCBB”) so
long as the Common Stock is quoted on the OTCBB, and if the Common Stock is
hereafter listed or quoted on the Nasdaq National Market or SmallCap Market
Systems or a national securities exchange, shall be determined by the last
reported sale price on the primary exchange or market on which the Common Stock
is traded. 

 

2

 

(b)  Notice
of Redemption. In the
case of any redemption of this Warrant, the Company shall give notice of such
redemption to the Holder hereof as provided in this Section 4(b). Notice of
redemption to the Holder of this Warrant shall be given by mailing by
first-class mail, postage prepaid, to the Holder’s last address of record with
the Company a notice of such redemption not less than thirty (30) days prior to
the date fixed for redemption. Any notice which is given in the manner herein
provided shall be conclusively presumed to have been duly given, whether or not
the Holder receives the notice. Each such notice shall specify the date fixed
for redemption, the place of redemption and the aggregate Redemption Price, and
shall state that payment of the Redemption Price will be made up on surrender of
this Warrant at such place of redemption, and that if not exercised by the close
of business on the date fixed for redemption, the exercise rights of the Warrant
shall expire unless extended by the Company. Such notice shall also state the
current Exercise Price and the date on which the right to exercise the Warrant
will expire unless extended by the Company.

(c) Payment
of Redemption Price. If
notice of redemption shall have been given as provided in Section 4(b), the
Redemption Price shall, unless the Warrant is theretofore exercised pursuant to
the terms hereof, become due and payable on the date and at the place stated in
such notice. On and after such date of redemption, the exercise rights of this
Warrant shall expire and this Warrant shall be null and void. On presentation
and surrender of this Warrant at such place of payment in such notice specified,
this Warrant shall be paid and redeemed at the Redemption Price per Warrant
Share within ten (10) days thereafter.

 

5. No
Voting or Dividend Rights. Nothing
contained in this Warrant shall be construed as conferring upon the holder
hereof the right to vote or to consent to receive notice as a stockholder of the
Company on any other matters or any rights whatsoever as a shareholder of the
Company. No dividends or interest shall be payable or accrued in respect of this
Warrant or the interest represented hereby or the shares purchasable hereunder
until, and only to the extent that, this Warrant shall have been
exercised.

 

6. Compliance
with Securities Act. The
Holder of this Warrant, by acceptance hereof, agrees that this Warrant is being
acquired for its own account and not for any other person or persons, for
investment purposes and that it will not offer, sell, or otherwise dispose of
this Warrant except under circumstances which will not result in a violation of
the Act or any applicable state securities laws. 

 

7. Limited
Transferability. (a) The
Holder represents that by accepting this Warrant it understands that this
Warrant and any securities obtainable upon exercise of this Warrant have not
been registered for sale under Federal or state securities laws and are being
offered and sold to the Holder pursuant to one or more exemptions from the
registration requirements of such securities laws. In the absence of an
effective registration of such securities or an exemption therefrom, any
certificates for such securities shall bear the legend set forth on the first
page hereof. The Holder understands that it must bear the economic risk of its
investment in this Warrant and any securities obtainable upon exercise of this
Warrant for an indefinite period of time, as this Warrant and such securities
have not been registered under Federal or state securities laws and therefore
cannot be sold unless subsequently registered under such laws, unless an
exemption from such registration is available. 

(b) Subject
to compliance with any applicable securities laws, this Warrant and all rights
hereunder are transferable, in whole or in part, upon surrender of this Warrant
at the principal office of the Company, together with a written assignment of
this Warrant substantially in the form attached hereto duly executed by the
Holder or its agent or attorney and funds sufficient to pay any transfer taxes
payable upon the making of such transfer. Upon such surrender and, if required,
such payment, the Company shall execute and deliver a new Warrant or Warrants in
the name of the assignee or assignees and in the denomination or denominations
specified in such instrument of assignment, and shall issue to the assignor a
new Warrant evidencing the portion of this Warrant not so assigned, and this
Warrant shall promptly be cancelled. A Warrant, if properly assigned, may be
exercised by a new holder for the purchase of Warrant Shares without having a
new Warrant issued.

 

8. Modification
and Waiver. This
Warrant and any provision hereof may be changed, waived, discharged, or
terminated only by an instrument in writing signed by the party against whom
enforcement of the same is sought. 

 

3

 

9. Notices. Any
notice, request, or other document required or permitted to be given or
delivered to the Holder hereof or the Company shall be delivered by hand or
messenger or shall be sent by certified mail, postage prepaid, or by overnight
courier to each such Holder at its address as shown on the books of the Company
or to the Company at its principal place of business or such other address as
either may from time to time provide to the other. Each such notice or other
communication shall be treated as effective or having been given: (i) when
delivered if delivered personally, (ii) if sent by registered or certified
mail, at the earlier of its receipt or three business days after the same has
been registered or certified as aforesaid, or (iii) if sent by overnight
courier, on the next business day after the same has been deposited with a
nationally recognized courier service.

 

10. Governing
Law. This
Warrant shall be construed and enforced in accordance with, and the rights of
the parties shall be governed by, the laws of the State of
Delaware.

 

11. Lost
or Stolen 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 receipt of an indemnity reasonably satisfactory to
the Company, or in the case of any such mutilation, upon surrender and
cancellation of such Warrant, the Company, at its expense, will make and deliver
a new Warrant, of like tenor, in lieu of the lost, stolen, destroyed or
mutilated Warrant.

 

12. Fractional
Shares. No
fractional shares shall be issued upon exercise of this Warrant. The Company
shall, in lieu of issuing any fractional share, pay the Holder entitled to such
fraction a sum in cash equal to such fraction (calculated to the nearest 1/100th
of a share) multiplied by the then effective Exercise Price on the date the Form
of Subscription is received by the Company.

 

13. Acknowledgement. Upon
the request of the Holder, the Company will at any time during the period this
Warrant is outstanding acknowledge in writing, in form satisfactory to Holder,
the continued validity of this Warrant and the Company’s obligations
hereunder.

 

14. Successors
and Assigns. This
Warrant and the rights evidenced hereby shall inure to the benefit of and be
binding upon the successors of the Company and the successors and assigns of the
Holder. The provisions of this Warrant are intended to be for the benefit of all
Holders from time to time of this Warrant, and shall be enforceable by any such
Holder.

 

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

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by its
officer, thereunto duly authorized as of this 22nd day of April,
2005.

 

Hana
Biosciences, Inc.,

a
Delaware corporation

 

 

By:________________________________

Name:______________________________

Title:_______________________________

4

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