Document:

ORYX TECHNOLOGY CORPORATION

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

                            COMMON STOCK AND WARRANT

                               PURCHASE AGREEMENT

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                                  July 28, 2003

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                               TABLE OF CONTENTS

                                                                            PAGE

   SECTION 1         Authorization and Sale of Common Stock and Warrants.......1

         1.1      Authorization................................................1

         1.2      Sale of Common Stock and Warrants............................1

   SECTION 2         Closing Date; Delivery....................................1

         2.1      Closing Date.................................................1

         2.2      Delivery.....................................................1

   SECTION 3         Representations and Warranties of the Company.............2

         3.1      Organization and Standing....................................2

         3.2      Corporate Power..............................................2

         3.3      Capitalization...............................................2

         3.4      Authorization................................................3

         3.5      Financial Statements.........................................3

         3.6      Litigation...................................................3

         3.7      Offering.....................................................3

         3.8      Brokers or Finders...........................................4

   SECTION 4         Representations and Warranties of the Purchasers..........4

         4.1      Accredited Investor; Experience..............................4

         4.2      Investment...................................................4

         4.3      Rule 144.....................................................4

         4.4      Further Limitations on Disposition...........................5

         4.5      Legends......................................................5

         4.6      Access to Data...............................................5

         4.7      Authorization................................................5

         4.8      Brokers or Finders...........................................5

         4.9      Tax Liability................................................5

   SECTION 5         Conditions of the Purchasers' Obligations at Closing......6

         5.1      Representations and Warranties Correct.......................6

         5.2      Covenants....................................................6

         5.3      Compliance Certificate.......................................6

         5.4      Blue Sky.....................................................6

         5.5      Registration Rights Agreement................................6

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   SECTION 6         Conditions of the Company's Obligations at Closing........6

         6.1      Representations and Warranties Correct.......................6

         6.2      Covenants....................................................6

         6.3      Blue Sky.....................................................7

         6.4      Registration Rights Agreement................................7

   SECTION 7         Covenants of the Purchasers...............................7

   SECTION 8         Miscellaneous.............................................7

         8.1      Governing Law................................................7

         8.2      Survival.....................................................7

         8.3      Successors and Assigns.......................................7

         8.4      Entire Agreement; Amendment..................................7

         8.5      Notices, Etc.................................................8

         8.6      California Corporate Securities Law..........................8

         8.7      Expenses.....................................................8

         8.8      Counterparts.................................................8

         8.9      Severability.................................................8

         8.10     Titles and Subtitles.........................................8

SCHEDULES AND EXHIBITS

Schedule I Purchasers

     A     Form of Warrant
     B     Schedule of Exceptions
     C     Amended and Restated Certificate of Incorporation and Bylaws
     D     Form of Amended and Restated Registration Rights Agreement
     E     Financial Statements

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                           ORYX TECHNOLOGY CORPORATION

                   COMMON STOCK AND WARRANT PURCHASE AGREEMENT

         This Common Stock and Warrant Purchase Agreement is made as of July 28,
2003 by and between Oryx Technology  Corporation,  a Delaware  corporation  (the
"Company"),  and the  purchasers  named on Schedule I attached  hereto (each,  a
"Purchaser" and, together, the "Purchasers").

                                   SECTION 1

               Authorization and Sale of Common Stock and Warrants

         1.1  Authorization.  On or before the  Closing (as defined in Section 2
below), the Company will authorize the sale and issuance of up to 625,000 shares
(the  "Shares")  of its  Common  Stock  (the  "Common  Stock")  and the sale and
issuance of  warrants in  substantially  the form  attached  hereto as Exhibit A
(collectively  the  "Warrants") to purchase up to an aggregate of 156,250 shares
of Common Stock.

         1.2 Sale of  Common  Stock  and  Warrants.  Subject  to the  terms  and
conditions  hereof,  the Company will issue and sell to each  Purchaser and each
Purchaser will buy from the Company (i) that number of shares of Common Stock at
a purchase  price of $1.00 per share and (ii) a Warrant to purchase  that number
of shares of Common Stock,  each as set forth next to such  Purchaser's  name on
Schedule I.

                                   SECTION 2

                             Closing Date; Delivery

         2.1 Closing  Date.  The closing of the  purchase and sale of the Common
Stock and the Warrants hereunder shall be held at the offices of Manatt,  Phelps
& Phillips, LLP, 1001 Page Mill Road, Building 2, Palo Alto, California at 10:00
a.m.,  local time,  on July 28, 2003 (the  "Closing")  or at such other time and
place upon which the Company and  Purchasers  purchasing  fifty percent (50%) or
more of the shares of Common Stock to be sold pursuant to this  Agreement  shall
agree. The date of such Closing is referred to herein as the "Closing Date."

         2.2  Delivery.  At the  Closing,  the  Company  will  deliver  to  each
Purchaser (a) a certificate or certificates,  registered in the Purchaser's name
representing the number Shares purchased by such Purchaser at the Closing as set
forth on  Schedule  I and (b) a Warrant  to  purchase  that  number of shares of
Common Stock as set forth on Schedule I, against  payment of the purchase prices
therefor by (i) check payable to the Company or (ii) wire  transfer  pursuant to
the Company's instructions.

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                                   SECTION 3

                  Representations and Warranties of the Company

         Except as set forth on the Company's  Schedule of  Exceptions  attached
hereto  as  Exhibit  B, the  Company  hereby  represents  and  warrants  to each
Purchaser as follows:

         3.1  Organization  and  Standing.  The  Company is a  corporation  duly
organized  and  existing  under,  and by  virtue  of,  the laws of the  State of
Delaware and is in good standing  under such laws. The Company has the requisite
corporate  power and authority to own and operate its  properties and assets and
to carry on its business as presently conducted and as proposed to be conducted.
The  Company is  presently  qualified  to do business in each state in which the
failure to be so qualified would have a material adverse effect on the Company's
business as now  conducted.  The Company has made  available  to each  Purchaser
copies of its Amended and Restated Certificate of Incorporation, as currently in
effect,  and its Bylaws, as amended to date,  attached hereto as Exhibit C. Said
copies are true,  correct,  and complete and contain all amendments  through the
Closing Date.

         3.2  Corporate  Power.  The Company  will have at the Closing  Date all
requisite  legal and  corporate  power and authority to execute and deliver this
Agreement  and  the  Amended  and  Restated  Registration  Rights  Agreement  in
substantially  the form attached hereto as Exhibit D (the  "Registration  Rights
Agreement");  to sell and issue the Shares and Warrants hereunder;  to issue the
Common  Stock upon  exercise  of the  Warrants  and to carry out and perform its
obligations  under  the  terms of this  Agreement  and the  Registration  Rights
Agreement.

         3.3  Capitalization.  The  authorized  capital  stock  of  the  Company
consists of 25,000,000  shares of Common Stock,  of which  1,836,335  shares are
issued and outstanding as of the Closing Date; and 3,000,000 shares of Preferred
Stock, of which 45,000 shares have been designated  "Series A Preferred," 750 of
which are issued and outstanding. The outstanding shares of capital stock of the
Company have been duly  authorized  and validly  issued,  and are fully paid and
nonassessable.  The Company has presently  reserved 339,128 shares of its Common
Stock for issuance to  employees,  consultants,  and  directors  under its stock
option plans. As of the date of this Agreement,  there were options  outstanding
under the  Company's  stock  option  plans to purchase an  aggregate  of 219,526
shares of Common Stock and 119,602  remained  available  for future  grant.  The
Company has outstanding warrants to purchase a total of 148,954 shares of Common
Stock.  Except as otherwise  set forth in this  Agreement  and the  Registration
Rights Agreement, no options, warrants, subscriptions, or purchase rights of any
nature  (including  any  conversion  or  preemptive  rights) to acquire from the
Company shares of its capital stock or other securities are authorized,  issued,
or  outstanding,  nor is the Company  obligated  under its charter  documents or
under any agreement by which the Company is bound to issue shares of its capital
stock or other  securities  except as contemplated by this Agreement.  Except as
provided  in  the  Amended  and  Restated  Certificate  of  Incorporation,  this
Agreement  and the  Registration  Rights  Agreement,  there  are no  agreements,
understandings,  trusts, or other  collaborative  arrangements or understandings
between the Company or any stockholder or, to the Company's knowledge, among any
stockholders, concerning the voting of the capital stock of the Company.

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         3.4 Authorization. All corporate action on the part of the Company, its
directors,  and its  stockholders  necessary for the  authorization,  execution,
delivery,  and  performance  of  this  Agreement  and  the  Registration  Rights
Agreement and the authorization,  sale, issuance, and delivery of the Shares and
the Warrants  (and the Common Stock  issuable upon exercise of the Warrants) has
been  taken  or will be taken  prior  to the  Closing.  This  Agreement  and the
Registration Rights Agreement, when executed and delivered by the Company, shall
constitute valid and binding obligations of the Company, enforceable against the
Company in  accordance  with their  terms,  subject  to  applicable  bankruptcy,
insolvency,  reorganization,  moratorium  or other laws of  general  application
relating to or affecting the  enforcement of creditors'  rights.  The Shares and
the shares of Common Stock issuable upon exercise of the Warrants when issued in
compliance with the provisions of this Agreement,  the Warrants, and the Amended
and Restated  Certificate of Incorporation,  will be validly issued, fully paid,
and  nonassessable  and free and clear of any liens or encumbrances,  other than
any liens or  encumbrances  created by or imposed  upon the  holders;  provided,
however,  that the  Shares and  Warrants  (and the Common  Stock  issuable  upon
exercise  thereof) may be subject to restrictions  on transfer under  applicable
state and/or federal securities laws.

         3.5  Financial  Statements.  Attached  hereto  as  Exhibit  E  are  the
Company's  unaudited  balance sheet as of and unaudited  statement of operations
and  statement of cash flows for the  three-month  period ended May 31, 2003 and
the  Company's  audited  balance  sheet  as of  and  the  audited  statement  of
operations  and  statement  of cash  flows  for the  twelve-month  period  ended
February 28, 2003  (collectively,  the  "Financial  Statements").  The Financial
Statements  are complete  and correct,  have been  prepared in  accordance  with
generally  accepted   accounting   principles  applied  on  a  consistent  basis
throughout the periods  indicated,  and fairly present the financial position of
the Company and its results of operations as of the respective dates and for the
respective periods indicated.  Except as set forth in the Financial  Statements,
the Company has no material liabilities, contingent of otherwise, other than (i)
liabilities  incurred in the ordinary  course of business  subsequent to May 31,
2003,  and (ii)  obligations  under  contracts and  commitments  incurred in the
ordinary course of business and not required under generally accepted accounting
principles to be reflected in the Financial  Statements,  which,  in both cases,
individually or in the aggregate, are not material to the financial condition or
operating  results  of  the  Company.  Except  as  disclosed  in  the  Financial
Statements,  the Company is not a guarantor of indemnitor of any indebtedness of
any other person, firm or corporation.

         3.6  Litigation.  There  is no  action,  suit,  proceeding  or,  to the
Company's  knowledge,  investigation  pending against the Company that questions
the validity of this Agreement,  the Registration Rights Agreement, or the right
of the Company to enter into such agreements,  or to consummate the transactions
contemplated hereby or thereby, or that might result,  either individually or in
the aggregate, in any material adverse changes in the assets, condition, affairs
or prospects of the Company,  financially or otherwise, nor is the Company aware
that there is any basis for the foregoing. The Company is not a party or subject
to the  provisions  of any order,  writ,  injunction,  judgment or decree of any
court  or  government  agency  or  instrumentality.  There is no  action,  suit,
proceeding or investigation by the Company currently pending or that the Company
intends to initiate.

         3.7   Offering.   Subject   to  the   accuracy   of   the   Purchasers'
representations  in Section 4 hereof and in written  response  to the  Company's
inquiries,  the offer,  sale and  issuance of the

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Shares  and the  Warrants  to be  issued  in  conformity  with the terms of this
Agreement  and the  issuance of the Common  Stock upon  exercise of the Warrants
constitute  transactions exempt from the registration  requirements of Section 5
of the  Securities  Act of 1933,  as  amended  (the  "Securities  Act")  and all
applicable state blue sky laws, and neither the Company nor any authorized agent
acting on its behalf will take any action hereafter that would cause the loss of
such exemption.

         3.8 Brokers or Finders.  The  Company  has not  incurred,  and will not
incur,  directly or indirectly,  as a result of any action taken by the Company,
any  liability  for  brokerage or finders'  fees or agents'  commissions  or any
similar charges in connection with this Agreement.

                                   SECTION 4

                Representations and Warranties of the Purchasers

         Each  Purchaser  hereby  represents  and  warrants to the Company  with
respect to the purchase of the Shares and the Warrants as follows:

         4.1 Accredited Investor;  Experience.  Such Purchaser is an "accredited
investor" as that term is defined in Rule 501 under the  Securities  Act. It has
substantial   experience  in  evaluating  and  investing  in  private  placement
transactions  of  securities  in companies  similar to the Company so that it is
capable of evaluating  the merits and risks of its investment in the Company and
has the  capacity  to  protect  its own  interests.  It is  capable of bearing a
complete loss of its investment in the Company.

         4.2  Investment.  Such Purchaser is acquiring the Shares,  Warrants and
the Common Stock issuable upon exercise of the Warrants as an investment for its
own account,  not as a nominee or agent, and not with the view to, or for resale
in connection  with, any distribution  thereof.  It understands that the Shares,
Warrants and the Common Stock  issuable  upon  exercise of the Warrants have not
been and will not be registered under the Securities Act by reason of a specific
exemption  from  the   registration   provisions  of  the  Securities  Act,  the
availability of which depends upon, among other things,  the bona fide nature of
the investment  intent and the accuracy of such Purchaser's  representations  as
expressed herein and in response to the Company's inquiries.

         4.3 Rule 144. Such Purchaser acknowledges that the Shares, Warrants and
the  Common  Stock   issuable  upon  exercise  of  the  Warrants  must  be  held
indefinitely unless  subsequently  registered under the Securities Act or unless
an exemption from such registration is available.  It is aware of the provisions
of Rule 144 promulgated under the Securities Act, which permit limited resale of
shares purchased in a private placement,  subject to the satisfaction of certain
conditions,  including, among other things, the existence of a public market for
the shares,  the  availability of certain current public  information  about the
Company, the resale occurring not less than one year after a party has purchased
and paid for the  security  to be sold,  the  sale's  being  effected  through a
"broker's transaction" or in transactions directly with a "market maker" and the
number  of shares  being  sold  during  any  three-month  period  not  exceeding
specified limitations.

                                       4
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         4.4 Further Limitations on Disposition. Without in any way limiting the
representations  set forth above,  such Purchaser further agrees not to make any
disposition  of all or any portion of the Shares,  the  Warrants  and the Common
Stock issuable upon exercise of the Warrants  except in compliance with Sections
2, 3 and 4 of the Registration Rights Agreement.

         4.5 Legends.  Such Purchaser  understands that the Shares, the Warrants
and the Common Stock issuable upon exercise of the Warrants,  and any securities
issued in respect thereof or exchange therefor,  may bear legends similar to one
or all of the following legends:

                  (a)  "THESE  SECURITIES  HAVE NOT BEEN  REGISTERED  UNDER  THE
SECURITIES  ACT OF 1933,  AS  AMENDED.  THEY MAY NOT BE SOLD,  OFFERED FOR SALE,
PLEDGED OR  HYPOTHECATED  IN THE ABSENCE OF A  REGISTRATION  STATEMENT IN EFFECT
WITH  RESPECT  TO THE  SECURITIES  UNDER  SUCH  ACT  OR AN  OPINION  OF  COUNSEL
SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED."

                  (b)  Any  legend   required  by  the  laws  of  the  State  of
California.

                  (c) Any  legend  required  by the Blue  Sky laws of any  other
state to the extent such laws are  applicable to the shares  represented  by the
certificate so legended.

         4.6 Access to Data.  Such  Purchaser has had an  opportunity to discuss
the Company's  business,  management,  and financial affairs with its management
and the  opportunity  to review  the  Company's  facilities.  It has also had an
opportunity  to ask questions of officers of the Company,  which  questions were
answered to its satisfaction.  It understands that such discussions,  as well as
any written information issued by the Company, were intended to describe certain
aspects of the  Company's  business  and  prospects  but were not a thorough  or
exhaustive description.

         4.7 Authorization. This Agreement and the Registration Rights Agreement
when executed and delivered by such Purchaser, will constitute valid and legally
binding  obligations of such  Purchaser,  enforceable  against such Purchaser in
accordance with their terms.

         4.8 Brokers or Finders.  Such  Purchaser has not, and will not,  incur,
directly or indirectly,  as a result of any action taken by such Purchaser,  any
liability for brokerage or finders' fees or agents'  commissions  or any similar
charges in connection with this Agreement.

         4.9  Tax  Liability.  Such  Purchaser  has  reviewed  with  its own tax
advisors  the  federal,  state,  local,  and  foreign tax  consequences  of this
investment and the  transactions  contemplated by this Agreement.  It has relied
solely on such  advisors and not on any  statements  or  representations  of the
Company or any of its agents. It understands that it (and not the Company) shall
be  responsible  for its own tax  liability  that may  arise as a result of this
investment or the transactions contemplated by this Agreement.

                                       5
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                                   SECTION 5

              Conditions of the Purchasers' Obligations at Closing

         The  obligations  of the  Purchasers  to  purchase  the  Shares and the
Warrants at the Closing  are,  at the option of the  Purchasers,  subject to the
fulfillment of the following conditions as of the Closing Date:

         5.1  Representations  and Warranties  Correct.  The representations and
warranties  made by the  Company  in  Section 3 hereof  shall have been true and
correct  when made and shall be true and  correct as of the  Closing  Date as if
made on the Closing Date  (subject in each case to the  exceptions  set forth in
the Schedule of Exceptions).

         5.2 Covenants. All covenants,  agreements,  and conditions contained in
this  Agreement  to be performed by the Company on or prior to such Closing Date
shall have been performed or complied with.

         5.3  Compliance  Certificate.  The Company shall have  delivered to the
Purchasers a certificate of the Company,  executed by the President, or any Vice
President of the Company,  dated the Closing Date, and  certifying,  among other
things,  to the fulfillment of the conditions  specified in Sections 5.1 and 5.2
of this Agreement.

         5.4 Blue Sky. The Company shall have  obtained all  necessary  Blue Sky
law  permits  and  qualifications,   or  have  the  availability  of  exemptions
therefrom,  required  by any state for the offer and sale of the  Shares and the
Warrants  and the  issuance  of the  Common  Stock  issuable  upon  exercise  of
Warrants.

         5.5 Registration Rights Agreement.  The Company shall have executed and
delivered the Registration Rights Agreement.

                                   SECTION 6

               Conditions of the Company's Obligations at Closing

         The Company's  obligation to sell and issue the Shares and Warrants is,
at the  option of the  Company,  subject  to the  fulfillment  of the  following
conditions as of each Closing Date:

         6.1  Representations  and Warranties  Correct.  The representations and
warranties  made by the  Purchasers in Section 4 hereof shall have been true and
correct in all material  respects when made and shall be true and correct in all
material respects on the Closing Date as if made on the Closing Date.

         6.2 Covenants. All covenants,  agreements,  and conditions contained in
this Agreement to be performed by the Purchasers on or prior to the Closing Date
shall have been performed or complied with in all material respects.

                                       6
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         6.3 Blue Sky. The Company shall have  obtained all  necessary  Blue Sky
law  permits  and  qualifications,   or  have  the  availability  of  exemptions
therefrom,  required  by any state for the offer and sale of the  Shares and the
Warrants  and the  issuance of the Common Stock  issuable  upon  exercise of the
Warrants.

         6.4 Registration  Rights Agreement.  The Purchasers shall have executed
and delivered the Registration Rights Agreement.

                                   SECTION 7

                           Covenants of the Purchasers

         Except as may be  required  by any law or  regulation,  each  Purchaser
agrees that it will maintain the confidentiality of any information  obtained by
it pursuant to this Agreement or by virtue of its  relationship as a stockholder
of the Company,  which is not otherwise  lawfully  available from other sources,
subject to the disclosure of information of a  non-technical  nature,  including
summary financial information,  which such Purchaser is obligated to disclose to
its partners and/or stockholders.

                                   SECTION 8

                                  Miscellaneous

         8.1 Governing Law. This Agreement  shall be governed in all respects by
the internal laws of the State of  California,  without  regard to the choice of
law provisions thereof.

         8.2 Survival. The representations, warranties, covenants and agreements
made herein  shall  survive any  investigation  made by the  Purchasers  and the
closing of the transactions contemplated hereby.

         8.3 Successors and Assigns.  Except as otherwise  provided herein,  the
provisions  hereof  shall  inure to the  benefit  of, and be binding  upon,  the
successors,  assigns, heirs, executors and administrators of the parties hereto;
provided,  however, that the rights of the Purchasers to the purchase the Common
Stock shall not be assignable without the prior written consent of the Company.

         8.4 Entire  Agreement;  Amendment.  This  Agreement,  the  Registration
Rights  Agreement,  and the other  documents  delivered  pursuant  hereto at the
Closing  constitute the full and entire  understanding and agreement between the
parties  with regard to the subjects  hereof and thereof,  and no party shall be
liable  or  bound  to  any  other  party  in  any  manner  by  any   warranties,
representations or covenants except as specifically set forth herein or therein.
Except as expressly provided herein,  neither this Agreement nor any term hereof
may be  amended,  waived,  discharged  or  terminated  other  than by a  written
instrument  signed by the party against whom  enforcement of any such amendment,
waiver, discharge or termination is sought.

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<PAGE>

         8.5  Notices,  Etc.  All notices and other  communications  required or
permitted  hereunder  shall be in writing and shall be mailed by  registered  or
certified mail, postage prepaid, or otherwise delivered by hand or by messenger,
addressed  (i) if to a Purchaser,  to the  Purchaser's  address set forth on the
signature  page hereof,  or to such other address as such  Purchaser  shall have
furnished to the Company in writing,  (ii) if to any other holder of any Shares,
to such address as such holder shall have furnished the Company in writing,  or,
until any such  holder so  furnishes  an  address  to the  Company,  then to the
address of the last holder of such Shares who has so furnished an address to the
Company, (iii) if to the Company, to its principal executive offices, located at
4340 Almaden Expressway, Suite 220, San Jose, California 95118, and addressed to
the attention of the Chief  Executive  Officer,  or to such other address as the
Company  shall  have  furnished  to the  Purchasers.  Each such  notice or other
communication  shall for all purposes of this  Agreement be treated as effective
or having been given when  delivered  if  delivered  personally,  or, if sent by
mail,  at the  earlier  of its  receipt  or 72  hours  after  the  same has been
deposited  in a regularly  maintained  receptacle  for the deposit of the United
States mail, addressed and mailed as aforesaid.

         8.6  California  Corporate  Securities  Law. THE SALE OF THE SECURITIES
WHICH  ARE THE  SUBJECT  OF THIS  AGREEMENT  HAS NOT  BEEN  QUALIFIED  WITH  THE
COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH
SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE  CONSIDERATION  THEREFOR
PRIOR TO SUCH  QUALIFICATION IS UNLAWFUL UNLESS THE SALE OF SECURITIES IS EXEMPT
FROM   QUALIFICATION  BY  SECTION  25100,  25102  OR  25105  OF  THE  CALIFORNIA
CORPORATIONS  CODE.  THE RIGHTS OF ALL PARTIES TO THIS  AGREEMENT  ARE EXPRESSLY
CONDITIONED  UPON  SUCH  QUALIFICATION  BEING  OBTAINED,  UNLESS  THE SALE IS SO
EXEMPT.

         8.7 Expenses.  The Company and the Purchasers shall each bear their own
legal  fees and other  expenses  with  respect  to this  transaction,  provided,
however,  that the Company shall  reimburse the  Purchasers for up to $15,000 of
reasonable  fees  and  expenses  for one  legal  counsel  to the  Purchasers  in
connection with the transactions contemplated by this Agreement.

         8.8  Counterparts.  This  Agreement  may be  executed  in any number of
counterparts,  each of which shall be enforceable  against the parties  actually
executing such  counterparts,  and all of which  together  shall  constitute one
instrument.

         8.9  Severability.  In the  case  any  one or  more  of the  provisions
contained in this Agreement  shall for any reason be held invalid,  illegal,  or
unenforceable in any respect, such invalidity,  illegality,  or unenforceability
shall not  affect  any  other  provision  of this  Agreement  and such  invalid,
illegal,  or unenforceable  provision shall be reformed and construed so that it
will be valid, legal, and enforceable to the maximum extent permitted by law.

         8.10  Titles  and  Subtitles.  The titles  and  subtitles  used in this
Agreement  are  used  for  convenience  only  and  are not to be  considered  in
construing or interpreting this Agreement.

                                       8
<PAGE>

         IN WITNESS WHEREOF, this Common Stock and Warrant Purchase Agreement is
hereby executed as of the date first written above.

COMPANY:                               ORYX TECHNOLOGY CORPORATION
                                       a Delaware corporation

                                       By: /s/ Phil J. Micciche
                                           -------------------------------------
                                           Philip J. Micciche
                                           President and Chief Executive Officer

                                           Address: 4340 Almaden Expressway
                                                    Suite 220
                                                    San Jose, California 95118

PURCHASERS:

                                       NORTHLEA PARTNERS LTD.

                                       By: /s/ John H. Abeles
                                           -------------------------------------
                                       Name:  John H. Abeles, MD
                                       Title: General Partner

                                       Address: 2365 NW 41st Street
                                                Boca Raton, Florida 33431

                                       SIGMA INTERNATIONAL II, L.P.,
                                       a Caymen Islands Limited Partnership

                                       By: Lanton Investments, as General
                                           Partner

                                       By: /s/ Richard Hubbard
                                           -------------------------------------
                                           Richard Hubbard
                                           Director

                                       Address: Rosemount
                                                Ballakilpheric, Colby
                                                Isle of Man  IM9  4BS

                                       9
<PAGE>

                                       COLUMBUS NOVA INVESTMENTS

                                       By: /s/ Andrew Intrater
                                           -------------------------------------
                                       Name:  Andrew Intrater
                                       Title: Managing Partner

                                       Address: c/o Columbus Nova Partners, LLC
                                                590 Madison Avenue, 38th Floor
                                                New York, NY 10022

                                       /s/ W. James Tozer, Jr.
                                       -----------------------------------------
                                       W. James Tozer, Jr.

                                       Address: 1112 Park Avenue
                                                New York, NY 10128

                                       10
<PAGE>

                                   SCHEDULE I

<TABLE>
<CAPTION>
============================================= ====================== ========================== ======================
                                                                         NUMBER OF SHARES
NAME AND ADDRESS                                                          OF COMMON STOCK             NUMBER OF
OF PURCHASER                                     PURCHASE PRICE              PURCHASED             WARRANT SHARES
============================================= ====================== ========================== ======================
<S>                                                 <C>                       <C>                      <C>
Northlea Partners Ltd.
2365 NW 41st Street
Boca Raton, Florida 33431                           $ 20,000                   20,000                    5,000

Sigma International II, L.P.
Rosemount
Ballakilpheric, Colby
Isle of Man   IM9   4BS                             $200,000                  200,000                   50,000

Columbus Nova Investments A.V.V.
c/o Columbus Nova Partners LLC
590 Madison Avenue, 38th Floor
New York, NY 10022                                  $200,000                  200,000                   50,000

W. James Tozer, Jr. 1112 Park Avenue
New York, NY 10128                                  $205,000                  205,000                   51,250

TOTAL:                                              $625,000                  625,000                  156,250
                                                    ========                  =======                  =======
</TABLE>

<PAGE>

                                    EXHIBIT A

                                 Form of Warrant

         THIS WARRANT AND THE SECURITIES  PURCHASABLE UPON ITS EXERCISE HAVE NOT
BEEN  REGISTERED  UNDER THE SECURITIES ACT OF 1933, AS AMENDED.  THEY MAY NOT BE
SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION
STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES  UNDER SUCH ACT OR AN OPINION
OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

                               WARRANT TO PURCHASE

                                 COMMON STOCK OF

                           ORYX TECHNOLOGY CORPORATION

                                 WARRANT #C -__

         FOR VALUE  RECEIVED,  subject  to the terms and  conditions  herein set
forth, _________________ ("Holder") is entitled to purchase from Oryx Technology
Corporation,  a Delaware  corporation (the "Company"),  at any time prior to the
Expiration Date (as defined below), at a price per share as set forth in Section
1 hereof  (the  "Warrant  Price"),  the number of fully paid and  non-assessable
shares of common stock of the  Company,  no par value,  ("Common  Stock") as set
forth in Section 2 hereof (the "Shares").

         1. Warrant Price. The Warrant Price for each of the Shares  purchasable
hereunder  shall be Three  Dollars  ($3.00) (the  "Warrant  Price"),  subject to
adjustment as provided in Section 11.

         2. Number of Shares.  The number of Shares  issuable  upon  exercise of
this  Warrant  shall be  ______________,  subject to  adjustment  as provided in
Section 11.

         3. Expiration of Warrant.  Subject to earlier termination in accordance
with  Section  8 below,  this  Warrant  shall  expire  and  shall no  longer  be
exercisable  after  July  ___,  2008  (the  "Expiration  Date").  Prior  to  the
Expiration  Date,  the Company  may not call or  otherwise  redeem this  Warrant
without the prior written consent of Holder.

         4. No  Fractional  Shares.  This  Warrant  may not be  exercised  as to
fractional Shares.

                                       2
<PAGE>

         5. No Stockholder  Rights. This Warrant shall not entitle Holder to any
of the  rights  of a  stockholder  of the  Company  until  such  time as  Holder
exercises this Warrant.

         6. Reservation of Shares.  The Company covenants that during the period
this Warrant is  exercisable  it will reserve from its  authorized  and unissued
shares of Common Stock a sufficient number of shares to provide for the issuance
of the maximum  number of shares of Common Stock  issuable  upon the exercise of
this  Warrant.  The Company  agrees  that its  issuance  of this  Warrant  shall
constitute  full  authority to its officers to instruct the  Company's  transfer
agent to issue the  necessary  certificates  for shares of Common Stock upon the
exercise of this Warrant.

                                       3
<PAGE>

         7. Exercise of Warrant.

                  (a) This Warrant may be  exercised  by Holder,  in whole or in
part, by the  surrender of this Warrant at the principal  office of the Company,
together with the Subscription Form attached hereto duly completed and executed,
accompanied  by payment in full of the  aggregate  Warrant  Price for the Shares
being purchased upon such exercise.  In the event of exercise of this Warrant in
compliance with the provisions hereof,  certificates for the Shares so purchased
shall be delivered to Holder  promptly  and,  unless this Warrant has been fully
exercised or expired, a new Warrant  representing that portion of the Shares, if
any, with respect to which this Warrant will not then have been exercised, shall
be issued  to  Holder.  The  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,  and Holder shall be treated for all purposes as the
holder of record of such shares as of the close of business on such date.

         In lieu of exercising  this Warrant  pursuant to the first paragraph of
Section 7 (a),  Holder  may elect to receive  Shares  equal to the value of this
Warrant (or any portion  thereof  remaining  unexercised)  by  surrender of this
Warrant at the principal  office of the Company  together with the  Subscription
Form,  in which  event  the  Company  shall  issue to  Holder a number of Shares
computed using the following formula:

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

         Where X = the number of Shares to be issued to Holder.

         Y = the number of Shares for which this Warrant is then being exercised
             (at the date of such exercise).

         A = the fair market value of one Share (at the date of such exercise).

         B = the Warrant Price (as adjusted to the date of such exercise).

         For  purposes of this  subsection  fair market value of one Share shall
mean:

                                       4
<PAGE>

                  (i) The  average of the  closing  bid and asked  prices of the
         Common Stock quoted in the NASDAQ  National  Market System,  the NASDAQ
         SmallCap  Market or the NASDAQ OTC Bulletin  Board or the closing price
         quoted on any exchange on which the Common  Stock is listed,  whichever
         is applicable,  as published in the Western  Edition of The Wall Street
         Journal  for  the  five  (5)   trading   days  prior  to  the  date  of
         determination of the fair market value; or

                  (ii) If the Common Stock is not publicly traded, the per share
         fair market value of the Common Stock shall be determined in good faith
         by the  Company's  Board of  Directors.  If Holder  disagrees  with the
         determination by the Board of Directors of the fair market value of the
         Common  Stock then such fair  market  value shall be  determined  by an
         independent  appraiser  selected jointly by the Company and Holder. The
         cost of such appraisal shall be paid equally by the Company and Holder.

                  (b) As  promptly  as  practicable  on or after such date,  the
Company  shall  cause to be issued  and  delivered  to Holder a  certificate  or
certificates  for the  number  of  full  Shares  issuable  upon  such  exercise.
Notwithstanding  the  foregoing  or any other  provision of this  Warrant,  this
Warrant  can be  exercised  in whole  or in part,  provided  that  each  partial
exercise  shall not be for less  than one  thousand  (1,000)  Shares at any time
unless at such time less than one  thousand  (1,000)  such Shares are subject to
such exercise.

                  (c) Issuance of certificates  for the Shares upon the exercise
of this Warrant shall be made without charge to the registered holder hereof for
any issue or  transfer  tax or other  incidental  expense  with  respect  to the
issuance of such certificates,  all of which taxes and expenses shall be paid by
the Company, and such certificates shall be issued in the name of the registered
holder  of this  Warrant  or in such  name or  names as may be  directed  by the
registered  holder  of  this  Warrant;  provided,  however,  that  in the  event
certificates  for the  Shares  are to be issued in a name other than the name of
the  registered  holder of this Warrant,  this  Warrant,  when  surrendered  for
exercise,  shall be  accompanied  by the  Assignment  Form attached  hereto duly
executed by Holder hereof,  and provided  further,  that any such transfer shall
comply with Section 9 hereof.

         8.  Automatic  Termination.  In  the  event  of  the  sale  of  all  or
substantially  all the capital stock, or  substantially  all the assets,  of the
Company in a merger, business combination, or other form of business transaction
with or into an entity whose  securities  are  registered  under the  Securities
Exchange Act of 1934, as amended, in which the Company's stockholders do not own
at least a  majority  of the  outstanding  voting  securities  of the  surviving
corporation  or business  entity after such  transaction  (based  solely on such
Company stockholders' holdings of the Company prior to the transaction) then the
Company  shall  give  Holder at least  twenty  (20) days  written  notice of the
proposed  effective date and terms of such offering,  transaction or agreements,
and if this Warrant has not been  exercised  before the effective date set forth
in such notice,  then this Warrant and the rights hereunder shall  automatically
terminate in its entirety.

                                       5
<PAGE>

         9.  Registration  Rights.  Shares  issued upon exercise of this Warrant
shall have  registrable  and  subject to the terms of that  certain  Amended and
Restated  Registration  Rights  Agreement dated as of July __, 2003 by and among
the Company and the other party named therein.

         10. Transfer or Assignment of Warrant.

                  (a)  This  Warrant,  and  any  rights  hereunder,  may  not be
assigned or  transferred,  except as provided  herein and in accordance with and
subject to the provisions of (i) applicable  state securities laws, and (ii) the
Securities Act of 1933, as amended,  and the rules and  regulations  promulgated
thereunder  (such  Act  and  such  rules  and  regulations   being   hereinafter
collectively  referred to as the "Act").  Any  purported  transfer or assignment
made other than in accordance with this Section 10 shall be null and void and of
no force and effect.

                  (b) This Warrant, and any rights hereunder, may be transferred
or assigned only with the prior written  consent of the Company,  which shall be
granted only upon receipt by the Company of (i) notice of the proposed  transfer
or assignment  and a detailed  statement of the  circumstances  surrounding  the
proposed  transfer  or  assignment  and (ii) an opinion  of  counsel  reasonably
satisfactory  to the Company  that (i) the  transferee  is a person to whom this
Warrant may be legally transferred without  registration under the Act, and (ii)
such  transfer  will not  violate any  applicable  law or  governmental  rule or
regulation,  including,  without  limitation,  any  applicable  federal or state
securities law.

                  (c)  Any  assignment  permitted  hereunder  shall  be  made by
surrender  of this  Warrant to the  Company  at its  principal  office  with the
Assignment  Form annexed  hereto duly  executed and funds  sufficient to pay any
transfer tax, if any. In such event, the Company shall, without charge,  execute
and deliver a new warrant in the name of the assignee  named in such  instrument
of  assignment  in the amount so  assigned  and this  Warrant  shall be promptly
canceled,  provided,  however, that in the event that Holder hereof shall assign
or transfer less than the full amount of this Warrant,  a new warrant evidencing
the remaining  portion of this Warrant not so assigned or  transferred  shall be
issued in the name of Holder.

         11. Adjustments to Shares.

                  (a) If outstanding  shares of the Company's Common Stock shall
be  subdivided  into a greater  number of shares or a dividend  in Common  Stock
shall  be paid  in  respect  of  Common  Stock,  the  Warrant  Price  in  effect
immediately  prior to such  subdivision  or at the record date of such  dividend
shall  simultaneously  with the effectiveness of such subdivision or immediately
after  the  record  date  of  such  dividend  be  proportionately   reduced.  If
outstanding  shares of Common Stock shall be combined  into a smaller  number of
shares, the Warrant Price in effect immediately prior to such combination shall,
simultaneously  with the effectiveness of such combination,  be  proportionately
increased.  When any adjustment is required to be made in the Warrant Price, the
number of shares of Common Stock  purchasable  upon the exercise of this

                                       6
<PAGE>

Warrant  shall be changed to the number  determined  by  dividing  (i) an amount
equal to the  number  of  shares  issuable  upon the  exercise  of this  Warrant
immediately prior to such adjustment,  multiplied by the Warrant Price in effect
immediately  prior to such  adjustment,  by (ii)  the  Warrant  Price in  effect
immediately after such adjustment.

                  (b)  In  case  of  any   reclassification  or  change  of  the
outstanding  securities of the Company or of any  reorganization  of the Company
(or any  other  corporation  the  stock or  securities  of which are at the time
receivable  upon  the  exercise  of  this  Warrant)  or  any  similar  corporate
reorganization  on or after  the date  hereof,  then and in each  such  case the
holder  of this  Warrant,  upon  the  exercise  hereof  at any  time  after  the
consummation  of  such  reclassification,   change,  reorganization,  merger  or
conveyance,  shall  be  entitled  to  receive,  in lieu of the  stock  or  other
securities  and  property  receivable  upon the  exercise  hereof  prior to such
consummation,  the stock or other  securities  or  property to which such holder
would have been  entitled  upon such  consummation  if such holder had exercised
this Warrant  immediately  prior thereto,  all subject to further  adjustment as
provided in Section  11(a);  and in each such case, the terms of this Section 11
shall  be  applicable  to the  shares  of stock  or  other  securities  properly
receivable upon the exercise of this Warrant after such consummation.

                  (c) When any  adjustment  is required to be made in the number
of shares of Common Stock purchasable hereunder or the Warrant Price pursuant to
this Section 11, the Company shall promptly mail to Holder a certificate setting
forth (i) a brief  statement of the facts  requiring such  adjustment,  (ii) the
Warrant  Price after such  adjustment  and (iii) the kind and amount of stock or
other securities or property into which this Warrant shall be exercisable  after
such adjustment.

                  (d) The Company shall not, by amendment of its  Certificate of
Incorporation,  as  amended  from time to time,  or  through  a  reorganization,
transfer  of  assets,  consolidation,  merger,  dissolution,  issue  or  sale of
securities or any other voluntary action,  avoid or seek to avoid the observance
or  performance  of any of its terms to be  observed  or  performed  under  this
Warrant by the Company,  but shall at all times in good faith assist in carrying
out of all the  provisions  of this  Section 11 and in taking all such action as
may be necessary or appropriate to protect Holder's rights under this Section 11
against impairment.

         12. Loss, Theft,  Destruction or Mutilation of Warrant. Upon receipt by
the  Company  of  evidence  reasonably  satisfactory  to it of the loss,  theft,
destruction  or  mutilation  of this  Warrant,  and in case of  loss,  theft  or
destruction,  of indemnity or security  reasonably  satisfactory to it, and upon
reimbursement to the Company of all reasonable expenses incidental thereto,  and
upon surrender and cancellation of this Warrant, if mutilated,  the Company will
make and  deliver  a new  warrant  identical  in tenor  and date in lieu of this
Warrant.

         13.  General.  This  Warrant  shall be governed by and  interpreted  in
accordance  with the laws of the State of California,  except for its principles
of  conflicts  of  laws.  The  headings  in this  Warrant  are for  purposes  of
convenience  and  reference  only and shall not be deemed to  constitute  a part
hereof.  Neither  this  Warrant  nor any term  hereof  may be  changed,  waived,

                                       7
<PAGE>

discharged  or  terminated  orally but rather only by an  instrument  in writing
signed by the Company and Holder.  This Warrant shall be binding on and inure to
the benefit of the parties hereto and their  respective  successors and assigns.
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 in
this Warrant.  All notices and other  communications  from the Company to Holder
shall be mailed by prepaid courier or first-class  registered or certified mail,
postage pre-paid, to the address furnished to the Company in writing by the last
holder who shall have furnished an address to the Company in writing.

         Issued this ____ day of July 2003.

                                          ORYX TECHNOLOGY CORPORATION

                                          By:
                                              ----------------------------------
                                              Philip J. Micciche, President and
                                              Chief Executive Officer

                                       8
<PAGE>

                                SUBSCRIPTION FORM

         The undersigned  registered owner of the Warrant which accompanies this
Subscription  Form hereby  irrevocably  (a)  exercises  such  warrant  for,  and
purchases   ______  shares  Common  Stock  (the  "Shares")  of  Oryx  Technology
Corporation,  a  Delaware  corporation  (the  "Company"),  purchasable  upon the
exercise of such Warrant, and herewith makes payment therefor,  or (b) exercises
such Warrant for ______ shares of the Company's Common Stock  purchasable  under
the Warrant  pursuant to the net exercise  provisions of the second paragraph of
Section  7(a) of such  Warrant all at the price and on the terms and  conditions
specified in such Warrant.

         1.01  Authorization.  This  exercise  constitutes  a valid and  legally
binding obligation of the undersigned, enforceable in accordance with its terms.

         1.02   Investment   Representation.   The   undersigned   acknowledges,
represents,  and  warrants  that it (a) has a  preexisting  personal or business
relationship  with the  Company,  and/or by reason of its  business or financial
experience has the capacity to protect its own interests in connection  with the
transaction,  and (b) is an  "accredited  investor"  under  Regulation  D of the
Securities  Act of  1933,  as  amended  (the  "Act").  The  undersigned  further
acknowledges that it is aware that the Shares have not been registered under the
Act,  or  qualified  under any  state's  securities  laws.  The Shares are being
acquired  for  investment  purposes  only  and  not  for  sale or with a view to
distribution of all or any part thereof.

         1.03 Access to Information.  The undersigned  represents that it has or
will have had upon  exercise of the Warrant an  opportunity  to ask questions of
and receive  answers from the Company  regarding the terms and conditions of its
purchase of the Shares  concerning  the  business,  financial  affairs and other
aspects of the  Company,  and it has further had the  opportunity  to obtain any
information (to the extent the Company possesses or can acquire such information
without unreasonable effort or expense) which it deems necessary to evaluate its
investment or to verify the accuracy of  information  otherwise  provided to it.
The  undersigned  acknowledges  that it is not relying upon any person,  firm or
corporation  (other than the Company and its officers and  directors)  in making
its  investment  or  decision  to invest  in the  Company,  and the  undersigned
represents  that it has been  solely  responsible  for its own  "due  diligence"
investigation  of the  Company  and its  management  and  business,  for its own
analysis of the merits and risks of this investment.

         1.04 Investment  Experience.  The  undersigned  represents and warrants
that by reason of its financial and business experience,  it has the capacity to
protect its interests in connection with these transactions.

         1.05 Restricted Securities. The undersigned understands that the Shares
will be characterized as "restricted  securities"  under the federal  securities
laws inasmuch as they are being  acquired from the Company in a transaction  not
involving a public offering, and that under such laws and applicable regulations
such securities may be resold without registration under the Act only in certain
limited   circumstances   and  that  otherwise  such  securities  must  be  held

                                       1
<PAGE>

indefinitely. In this connection, the undersigned represents that it is familiar
with SEC Rule 144, as presently in effect,  and the conditions which must be met
in order for that Rule to be available  for resale of  "restricted  securities,"
and understands the resale limitations imposed by the Act.

         1.06 Further  Limitations on  Disposition.  Without in any way limiting
the  representations set forth above, the undersigned further agrees not to make
any disposition of all or any portion of the Shares unless and until:

                  (a) There is then in effect a "Registration  Statement"  under
the Act covering  such  proposed  disposition  and such  disposition  is made in
accordance with such Registration  Statement and any applicable  requirements of
state securities laws; or

                  (b) (i) the undersigned shall have notified the Company of the
proposed  disposition  and shall  have  furnished  the  Company  with a detailed
statement of the circumstances surrounding the proposed disposition, and (ii) if
reasonably  requested by the Company,  shall have  furnished the Company with an
opinion of counsel at undersigned's expense (except for dispositions pursuant to
Rule 144 of the Rules and Regulations under the Act which dispositions shall not
so require an opinion of counsel) reasonably  satisfactory to the Company,  that
such  disposition  will not require  registration of the Shares under the Act or
the consent of or permit from appropriate authorities under any applicable state
securities law.

                  (c)  Notwithstanding  the provisions of paragraphs (a) and (b)
above, no such  Registration  Statement or opinion of counsel shall be necessary
for a transfer by the  undersigned  to a constituent  stockholder or constituent
partner (including any constituent of a constituent) of the undersigned,  if the
transferee or transferees  agree in writing to be subject to the terms hereof to
the same extent as if they were the undersigned hereunder.

         2. RESTRICTIONS ON THE TRANSFER OF SECURITIES.

         2.01 Corporate  Securities Law. The Shares shall be transferred only in
compliance with the conditions  specified in Section 1.06,  which conditions are
intended  to  ensure  compliance  with  the  provisions  of the  Act  and  state
securities  laws with  respect  to the  transfer  of any such  securities.  Each
certificate  representing the Shares shall bear at least a legend  substantially
in the following form until such time as the conditions of such legend have been
met:

         THE SECURITIES  REPRESENTED  HEREBY HAVE NOT BEEN REGISTERED  UNDER THE
SECURITIES  ACT OF 1933, AS AMENDED  ("ACT"),  NOR HAVE THEY BEEN  REGISTERED OR
QUALIFIED UNDER THE SECURITIES LAWS OF ANY STATE. NO TRANSFER OF SUCH SECURITIES
WILL BE PERMITTED UNLESS A REGISTRATION  STATEMENT UNDER THE ACT IS IN EFFECT AS
TO SUCH TRANSFER, THE TRANSFER IS MADE IN ACCORDANCE WITH RULE 144 UNDER THE ACT
OR AS  OTHERWISE  PERMITTED  BY  THE  COMPANY,  OR IN  THE  OPINION  OF  COUNSEL
SATISFACTORY TO THE COMPANY AND AT HOLDER'S EXPENSE,  REGISTRATION UNDER THE ACT
IS  UNNECESSARY  IN ORDER  FOR SUCH

                                       2
<PAGE>

TRANSFER TO COMPLY WITH THE ACT AND WITH APPLICABLE STATE SECURITIES LAWS.

         The Company shall, within ten (10) days of the request of any holder of
a  certificate   bearing  the  foregoing   legend  and  the  surrender  of  such
certificate,  issue  a new  stock  certificate  in the  name  of the  transferee
provided that there has been  compliance  with the provisions of subsection 1.06
above.

         2.02  Additional  Legends.  The Company may also impose any  additional
legend required under  applicable  federal or state securities laws or permitted
under its bylaws and shall be  entitled  to issue stop  transfer  notices on its
books with respect to any securities  purchased  hereunder  until the conditions
set forth in the applicable legends have been met.

         Dated:
                ------------------

                                           -----------------------------------
                                           (Signature of Registered Owner)

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

                                           ------------------------------------
                                           (Street Address)

                                           ------------------------------------
                                           (City, State, Zip Code)

                                          ------------------------------------
                                          Social Security or Tax
                                          Identification Number

                                       3
<PAGE>

         If the number of Shares issuable upon this exercise shall not be all of
the Shares which the  undersigned is entitled to purchase in accordance with the
enclosed  Warrant,  the undersigned  requests that a new warrant  evidencing the
right to purchase  the Shares not issuable  pursuant to the  exercise  evidenced
hereby be issued in the name of and delivered to:

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

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

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

         Date:                           Name of Holder:
                ---------------
                                         (Print)
                                                 -------------------------------

                                         (By)
                                              ----------------------------------
                                         (Name:)
                                                --------------------------------
                                         (Title:)
                                                 -------------------------------

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

                                       4
<PAGE>

                               FORM OF ASSIGNMENT
                               ------------------

                 (To be signed only upon assignment of Warrant)

         FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers
unto:

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

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

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

          (Name and address of assignee must be printed or typewritten)

         ___________   shares  of  Oryx  Technology   Corporation  Common  Stock
purchasable  under the  within  Warrant,  hereby  irrevocably  constituting  and
appointing ______________________ Attorney to transfer said Warrant on the books
of the Company, with full power of substitution in the premises.

         Dated:
                -----------

                                                 -------------------------------
                                                 (Signature of Registered Owner)

                                       1
<PAGE>

                                    EXHIBIT B

                             Schedule of Exceptions
                             ----------------------

                                      None

                                       1
<PAGE>

                                    EXHIBIT C

                     Certificate of Incorporation and Bylaws
                     ---------------------------------------

                                       1
<PAGE>

                                    EXHIBIT D

               Amended and Restated Registration Rights Agreement
               --------------------------------------------------

                           ORYX TECHNOLOGY CORPORATION

               AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT

         This  Amended  and  Restated   Registration   Rights   Agreement   (the
"Agreement")  is  made  as of  July  ___,  2003  by and  among  Oryx  Technology
Corporation,  a Delaware  corporation  (the  "Company"),  having  its  principal
executive  offices  located at 4340  Almaden  Expressway,  Suite 220,  San Jose,
California  95118  and the  persons  listed  on the  signature  page  hereto  as
Investors (each, an "Investor" and, together, the "Investors").

                                    RECITALS

         A. The Company and certain Investors entered into a Registration Rights
Agreement dated as of October 31, 2001 (the "Original  Agreement") in connection
with the purchase of an aggregate of 162,338 shares of Common Stock and warrants
to purchase up to 37,975  shares of Common Stock  pursuant to a Common Stock and
Warrant  Purchase  Agreement  dated as of October 31,  2001 (the "2001  Purchase
Agreement").

         B. The Company and certain other  Investors  have entered into a Common
Stock and Warrant  Purchase  Agreement  dated as of July ___,  2003  pursuant to
which they will  purchase up to an aggregate  of 625,000  shares of Common Stock
and  warrants  to  purchase  up to  156,250  shares of Common  Stock  (the "2003
Purchase Agreement").

         C. It is a condition to closing under the 2003 Purchase  Agreement that
the Company and the  Investors  amend and restate in its  entirety  the Original
Agreement  by  entering  into this  Amended  and  Restated  Registration  Rights
Agreement.

         NOW, THEREFORE, in consideration of the foregoing, the parties agree as
follows:

                                    AGREEMENT

         1. Certain Definitions.  As used in this Agreement, the following terms
shall have the following respective meanings:

            "Commission"  shall mean the United States  Securities  and Exchange
Commission or any successor agency.

            "Exchange  Act" shall mean the  Securities  Exchange Act of 1934, as
amended, or any successor law thereto.

<PAGE>

            "Holder"  shall mean each Investor and any transferee of Registrable
Securities who pursuant to Section 13 below is entitled to  registration  rights
hereunder.

            "Common" shall mean shares of the Company's  authorized Common Stock
issued and sold by the Company  pursuant to the 201  Purchase  Agreement  or the
2003 Purchase Agreement.]

            "Investor"  shall mean each person or entity who has acquired shares
of Common and any related securities  pursuant to the 2001 Purchase Agreement or
the 2003 Purchase Agreement and who is a signatory to this Agreement.

            "Registrable  Securities" shall mean (i) shares of Common;  (ii) any
Common Stock of the Company  issued upon exercise of the Warrants;  (iii) shares
of the Company's  Common Stock or other  securities  issued or issuable upon any
stock split, stock dividend, recapitalization,  or similar event with respect to
or in  replacement  of the shares  referenced  in (i) or (ii)  above;  provided,
however,  that  Registrable  Securities  shall not  include (a) shares of Common
Stock that have been sold to or through a broker or dealer or  underwriter  in a
public distribution or public securities transaction, (b) shares of Common Stock
sold in a  transaction  exempt from the  registration  and  prospectus  delivery
requirements  of the  Securities  Act under  Section  4(1)  thereof  so that all
transfer  restrictions and restrictive legends with respect thereto, if any, are
removed upon the  consummation of such sale, or (c) Registrable  Securities sold
by a person in a  transaction  in which  rights  under  this  Agreement  are not
assigned.

         The  terms  "register,"  "registered,"  and  "registration"  refer to a
registration  effected  by  preparing  and filing a  registration  statement  in
compliance  with the  Securities  Act,  and the  declaration  or ordering of the
effectiveness of such registration statement.

            "Registration  Expenses"  shall mean all  expenses  incurred  by the
Company  in  complying  with  Sections  5,  6 or 7  hereof,  including,  without
limitation, all registration,  qualification and filing fees, printing expenses,
escrow fees, fees and disbursements of counsel for the Company, accounting fees,
blue sky fees and expenses, and the expense of any special audits incident to or
required by any such registration but excluding all Selling Expenses.

            "Restricted  Securities"  shall mean the  securities  of the Company
required  to bear the  legend  set  forth in  Section 3 hereof  (or any  similar
legend).

            "Securities  Act" shall mean the Securities Act of 1933, as amended,
or any successor law thereto.

            "Selling Expenses" shall mean all underwriting  discounts,  fees and
disbursements of counsel to the Holders, selling commissions, and stock transfer
taxes applicable to the securities registered by the Holders.

            "Warrants"  shall mean the warrants to purchase  Common Stock issued
pursuant to the 2001 Purchase Agreement or the 2003 Purchase Agreement.

                                      -2-
<PAGE>

         2. Restrictions on Transferability. The Restricted Securities shall not
be transferable  except upon the conditions  specified in this Agreement,  which
conditions  are  intended  to  ensure  compliance  with  the  provisions  of the
Securities Act. In no event shall Restricted Securities be transferred,  without
the prior  written  consent of the  Company,  to any  entity  (or any  affiliate
thereof) whose  principal  business is competitive  with that of the Company (as
determined  by the Board of Directors  of the Company  acting in good faith) and
any such attempted transfer shall be void ab initio; provided,  however, that no
affiliate  of a  holder  of  Restricted  Securities  shall  be  deemed  to  be a
competitor of the Company.  Each holder of Restricted  Securities will cause any
proposed transferee of the Restricted Securities held by such holder to agree to
take and hold such Restricted  Securities subject to the provisions and upon the
conditions specified in this Agreement.

         3. Restrictive  Legend.  Each certificate  representing (i) the Common,
(ii) the  Warrants,  (iii)  shares of the  Company's  Common  Stock  issued upon
exercise of the Warrants, and (iv) any other securities issued in respect of the
Common Stock upon any stock split,  stock  dividend,  recapitalization,  merger,
consolidation  or  similar  event,  shall  (unless  otherwise  permitted  by the
provisions of Section 4 below) be stamped or otherwise  imprinted  with a legend
in  substantially  the following form (in addition to any legend  required under
applicable state securities laws):

         THESE  SECURITIES HAVE NOT BEEN REGISTERED  UNDER THE SECURITIES ACT OF
         1933, AS AMENDED.  THEY MAY NOT BE SOLD,  OFFERED FOR SALE,  PLEDGED OR
         HYPOTHECATED IN THE ABSENCE OF A REGISTRATION  STATEMENT IN EFFECT WITH
         RESPECT  TO THE  SECURITIES  UNDER  SUCH ACT OR AN  OPINION  OF COUNSEL
         SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

         The Investors and any Holder consent to the Company's making a notation
on its records and giving  instructions  to any transfer agent of the Common and
the Warrants (including any Common Stock issuable upon exercise of the Warrants)
in order to implement the restrictions on transfer established in this Section.

         4.  Notice  of  Proposed  Transfers.  The  holder  of each  certificate
representing Restricted Securities by acceptance thereof agrees to comply in all
respects with the provisions of this Section.  Prior to any proposed transfer of
any Restricted  Securities,  unless there is in effect a registration  statement
under the  Securities  Act covering the proposed  transfer,  the holder  thereof
shall give written  notice to the Company of such  Holder's  intention to effect
such transfer.  Each such notice shall describe the manner and  circumstances of
the  proposed  transfer  in  sufficient  detail,  and shall,  if the  Company so
requests,  be accompanied by either (i) a written opinion of legal counsel,  who
shall be reasonably  satisfactory  to the Company,  addressed to the Company and
reasonably  satisfactory in form and substance to the Company's counsel,  to the
effect that the proposed  transfer of the Restricted  Securities may be effected
without  registration under the Securities Act or (ii) a "No Action" letter from
the  Commission  to the effect  that the  transfer  of such  securities  without
registration  will not result in a recommendation by the staff of the Commission
that  action  be taken  with  respect  thereto,  whereupon  the  holder  of such
Restricted  Securities shall be entitled to transfer such Restricted  Securities
in  accordance  with the  terms of the  notice  delivered  by the  holder to the
Company. Each certificate  evidencing the Restricted  Securities  transferred as
above provided shall

                                      -3-
<PAGE>

bear the  appropriate  restrictive  legends  described  above,  except that such
certificate  shall not bear any such  restrictive  legend if, in the  opinion of
counsel  for the  Company,  such  legend is not  required.  Notwithstanding  the
foregoing,  no opinion or "no action" letter shall be required for a transfer by
a  Holder  to (i) a  partner,  active  or  retired,  of a Holder  of  Restricted
Securities;  (ii) the  estate  of any such  partner;  (iii) any  spouse,  lineal
descendant  or ancestor,  or spouse of any lineal  descendant or ancestor of any
Holder or to any trust for the benefit of such Holder or such  persons;  or (iv)
any affiliate of a Holder as defined in Rule 12b-2 of the Exchange Act.

         5. Requested Registration.

                  (a)  Request  for  Registration.  In case  the  Company  shall
receive  from  Holders  holding  not less  than a  majority  of the  outstanding
Registrable  Securities a written  request that the Company file a  registration
statement  under the  Securities  Act with  respect  to  shares  of  Registrable
Securities, the Company will:

                           (i) promptly  give written  notice of such request to
all other Holders; and

                           (ii) subject to the  limitations  of Section 5(b), as
soon as practicable,  use its best efforts to effect such registration under the
Securities Act (including,  without limitation,  appropriate qualification under
applicable blue sky or other state  securities  laws and appropriate  compliance
with  applicable  regulations  issued  under  the  Securities  Act and any other
governmental  requirements  or  regulations) as may be so requested and as would
permit or facilitate  the sale and  distribution  of all or such portion of such
Registrable  Securities as are  specified in such request,  together with all or
such portion of the  Registrable  Securities of any Holder or Holders joining in
such  request as are  specified  in a written  request  received  by the Company
within twenty (20) days after  receipt of such written  notice from the Company;
provided, however, that the Company shall not be obligated to take any action to
effect any such  registration,  qualification  or  compliance  pursuant  to this
Section 5:

                           (A) prior to ninety (90) days following the effective
date of a  Company-initiated  registration  (other than a registration  effected
solely to qualify an employee  benefit plan or to effect a business  combination
pursuant to Rule 145);

                           (B) (i) in any particular  jurisdiction  in which the
Company would be required to execute a general  consent to service of process in
effecting  such   registration   unless  the  Company  is  already   subject  to
jurisdiction  and except as may be required by the  Securities  Act, and (ii) to
the extent that the Company  would be required to qualify or exempt such sale of
securities under applicable blue sky or other state securities laws in more than
ten (10) states;

                           (C)  after  the  Company  has  effected  two (2) such
registrations pursuant to this Section 5, which registrations have been declared
effective;

                           (D) that would  require the  Company to maintain  and
keep any such  registration  on Form S-1 effective for a period greater than the
period  equal to the shorter of

                                      -4-
<PAGE>

(x) 45 days or (y) such date as the  disposition of the  Registrable  Securities
subject to such registration has been completed;

                           (E)  if  the  Company  shall  furnish  to  Holders  a
certificate  signed by the  President  of the Company  stating  that in the good
faith judgment of the Company's  Board of Directors,  it would be detrimental to
the Company and its stockholders if the registration  statement were filed, then
the Company may defer the filing of such registration  statement for a period of
up to one hundred  eighty (180) days after  receipt of the request of the Holder
or Holders requesting such registration; provided, however, that the Company may
not utilize this right more than once in any 12-month period; or

                           (F) if such Registrable  Securities can be registered
on a Form S-3 (or  equivalent  or successor  form) or sold  pursuant to Rule 144
under the Securities Act or other applicable  exemption from registration  under
the Securities Act within a three-month period.

         Subject to the foregoing clauses (A) through (F) inclusive, the Company
shall file a  registration  statement  covering the  Registrable  Securities  so
requested to be registered as soon as  practicable  after receipt of the request
or requests of the initiating Holders.

                  (b) Underwriting. In the event that a registration pursuant to
Section 5 is for a registered  public offering  involving an  underwriting,  the
Company  shall so advise the  Holders as part of the notice  given  pursuant  to
Section 5(a)(i). In such event, the right of any Holder to registration pursuant
to  Section 5 shall be  conditioned  upon  such  Holder's  participation  in the
underwriting  arrangements required by this Section 5, and the inclusion of such
Holder's  Registrable  Securities in the  underwriting  to the extent  requested
shall be limited to the extent provided herein.

         The Company shall  (together  with all Holders  proposing to distribute
their securities through such underwriting) enter into an underwriting agreement
in customary form with a managing  underwriter selected for such underwriting by
the  Company.  Notwithstanding  any other  provision  of this  Section 5, if the
managing  underwriter advises the Holders in writing that market factors require
a limitation of the number of shares to be underwritten,  then the Company shall
so advise all  holders  of  Registrable  Securities  and the number of shares of
Registrable Securities that may be included in the registration and underwriting
shall be allocated  among all Holders  thereof  (except  those  Holders who have
indicated  to the  Company  their  decision  not  to  distribute  any  of  their
Registrable  Securities through such  underwriting) in proportion,  as nearly as
practicable,  to the respective  amounts of Registrable  Securities held by such
Holders  at the  time of  filing  the  registration  statement.  No  Registrable
Securities excluded from the underwriting by reason of the underwriter's  market
limitation shall be included in such registration.  To facilitate the allocation
of  shares  in  accordance  with  the  above  provisions,  the  Company  or  the
underwriters  may round the  number of  shares  allocated  to any  Holder to the
nearest one hundred (100) shares.

         If any Holder of Registrable Securities disapproves of the terms of the
underwriting,  such person may elect to withdraw  therefrom by written notice to
the Company,  the managing  underwriter  and the other Holders.  The Registrable
Securities  and/or  other  securities  held by such

                                      -5-
<PAGE>

Holder  affected  shall be  withdrawn  from  registration,  and  such  withdrawn
Registrable  Securities shall not be transferred in a public  distribution prior
to one hundred twenty (120) days after the closing date of such registration, or
such  other  shorter  period  of time as the  underwriters  may  require,  or as
required by law.

         6. Company Registration.

                  (a) Notice of Registration.  If the Company shall determine to
register any of its  securities,  either for its own account or the account of a
security  holder or holders  exercising  their  respective  demand  registration
rights, other than: (i) a registration relating solely to employee benefit plans
or (ii) a  registration  relating  solely to a transaction  pursuant to Rule 145
promulgated under the Securities Act, the Company will:

                           (i)  promptly  give to  each  Holder  written  notice
thereof; and

                           (ii)  include in such  registration  (and any related
qualification under blue sky laws or other compliance),  and in any underwriting
involved therein, all the Registrable  Securities specified in a written request
or requests,  made within twenty (20) days after receipt of such written  notice
from the Company, by any Holder or Holders.

                  (b) Underwriting.  Notwithstanding any other provision of this
Section 6, if the managing underwriter determines that marketing factors require
a  limitation  of  the  number  of  shares  to  be  underwritten,  the  managing
underwriter may limit the number of Registrable Securities to be included in the
registration  and  underwriting.  In such event, the Company shall so advise all
Holders of  Registrable  Securities  which would  otherwise  be  registered  and
underwritten pursuant hereto, and the number of shares of Registrable Securities
that may be included in the  registration  and  underwriting  shall be allocated
among the Holders in  proportion,  as nearly as  practicable,  to the respective
amounts of Registrable Securities held by such Holders; provided,  however, that
no other selling  securityholder  of the Company may include  securities in such
registration  if  any  Registrable   Securities  of  the  Holders  are  excluded
hereunder. If any Holder disapproves of the terms of any such underwriting, such
Holder may elect to withdraw  therefrom by written notice to the Company and the
managing underwriter. Any Registrable Securities excluded or withdrawn from such
underwriting shall be withdrawn from such registration.

                  (c) Right to Terminate  Registration.  The Company  shall have
the right to terminate or withdraw any  registration  initiated by it under this
Section  prior to the  effectiveness  of such  registration  whether  or not any
Holder has elected to include securities in such registration.

         7.  Registration  on Form S-3. A Holder or group of Holders holding not
less than a majority of the outstanding  Registrable  Securities  shall have the
right to request that the Company register such  Registrable  Securities on Form
S-3  (such  requests  to be in  writing  and to state  the  number  of shares of
Registrable  Securities to be disposed of and the intended method of disposition
of such shares by each such Holder), subject to the following limitations:

                                      -6-
<PAGE>

                  (a)  the  Company  shall  not  be  obligated  to  effect  such
registration  if Form S-3 is not available  for such offering of the  requesting
Holders or if the Registrable  Securities  subject to a request for registration
on Form S-3 can be sold pursuant to Rule 144 under the  Securities  Act or other
applicable  exemption  from  registration  under  the  Securities  Act  within a
three-month period;

                  (b) the Company shall not be obligated to cause a registration
on Form S-3 to  become  effective  prior  to  ninety  (90)  days  following  the
effective date of a  Company-initiated  registration  (other than a registration
effected  solely to qualify  an  employee  benefit  plan or to effect a business
combination pursuant to Rule 145);

                  (c) the Company  shall not be  obligated to take any action to
effect any such  registration  (i) in any particular  jurisdiction  in which the
Company would be required to execute a general  consent to service of process in
effecting  such   registration   unless  the  Company  is  already   subject  to
jurisdiction  and except as may be required by the  Securities  Act, and (ii) to
the extent that the Company  would be required to qualify or exempt such sale of
securities under applicable blue sky or other state securities laws in more than
ten (10) states;

                  (d) the Company shall not be required to effect a registration
on Form S-3  unless the Holder or  Holders  requesting  registration  propose to
dispose of shares of  Registrable  Securities  having an  aggregate  disposition
price (before  deduction of  underwriting  discounts and expenses of sale) of at
least $250,000;

                  (e) the Company  shall not be required to effect more than one
(1) registration on Form S-3 in any six (6)-month period;

                  (f) the Company  shall not be required to effect more than two
(2) registrations on Form S-3 for the Holders pursuant to this Section 6;

                  (g) the Company shall not be required to maintain and keep any
such  registration  on Form S-3 effective  for a period  greater than the period
equal to the shorter of (x) 45 days or (y) such date as the  disposition  of the
Registrable Securities subject to such registration has been completed; and

                  (h) the  Company  may  defer the  filing of such  registration
statement  for a period of up to one hundred  eighty (180) days after receipt of
the request of the Holder or Holders  requesting  such  registration,  if in the
good faith judgment of the Company's Board of Directors, it would be detrimental
to the Company and its  stockholders if the  registration  statement were filed;
provided, however, that the Company may not utilize this right more than once in
any 12-month period.

         The  Company  shall  give  notice to all  Holders  of the  receipt of a
request for registration pursuant to this Section and shall provide a reasonable
opportunity  for all such other  Holders  to  participate  in the  registration.
Subject to the  foregoing,  the  Company  will use its  commercially

                                      -7-
<PAGE>

reasonable  efforts  to  effect  promptly  the  registration  of all  shares  of
Registrable  Securities  on Form S-3 to the  extent  requested  by the Holder or
Holders thereof for purposes of disposition.

         8. Obligations of the Company.  Whenever  required under this Agreement
to effect the registration of any Registrable Securities,  the Company shall, as
expeditiously as reasonably possible:

                  (a)  Prepare  and file with the SEC a  registration  statement
with respect to such Registrable  Securities and use its reasonable best efforts
to cause such registration statement to become effective,  and, upon the request
of  the  Holders  of  a  majority  of  the  Registrable   Securities  registered
thereunder,  keep such  registration  statement  effective for up to one hundred
twenty (120) days.

                  (b)  Prepare  and  file  with  the  SEC  such  amendments  and
supplements to such registration statement and the prospectus used in connection
with  such  registration  statement  as may be  necessary  to  comply  with  the
provisions  of  the  Securities  Act  with  respect  to the  disposition  of all
securities covered by such registration statement.

                  (c)  Furnish  to the  Holders  such  numbers  of  copies  of a
prospectus,   including  a  preliminary  prospectus,   in  conformity  with  the
requirements  of the  Securities  Act,  and  such  other  documents  as they may
reasonably  request  in order  to  facilitate  the  disposition  of  Registrable
Securities owned by them.

                  (d)  Use  its  best   efforts  to  register  and  qualify  the
securities  covered by such registration  statement under the securities laws of
such  jurisdictions  as shall be reasonably  appropriate for the distribution of
the securities covered by the registration  statement;  provided,  however, that
the  Company  shall not be required in  connection  therewith  or as a condition
thereto  to qualify to do  business  or to file a general  consent to service of
process in any such  jurisdiction,  and further  provided that (anything in this
Agreement  to the  contrary  notwithstanding  with  respect  to the  bearing  of
expenses) if any  jurisdiction in which the securities  shall be qualified shall
require that  expenses  incurred in  connection  with the  qualification  of the
securities  in that  jurisdiction  be borne by selling  stockholders,  then such
expenses  shall be  payable  by the  selling  Holders  pro rata,  to the  extent
required by such  jurisdiction if such Holders do not elect to withdraw from the
registration after notice of such requirement.

                  (e) In the event of any underwritten  public  offering,  enter
into and perform its  obligations  under an  underwriting  agreement  with terms
generally satisfactory to the managing underwriter of such offering. Each Holder
participating  in such  underwriting  shall  also  enter  into and  perform  its
obligations under such an agreement.

                  (f) Notify each Holder of  Registrable  Securities  covered by
such registration  statement,  at any time when a prospectus relating thereto is
required to be delivered under the Securities Act, of the happening of any event
as a result of which the prospectus included in such registration  statement, as
then in effect,  includes  an untrue  statement  of a material  fact or omits to

                                      -8-
<PAGE>

state a material  fact  required to be stated  therein or  necessary to make the
statements  therein not misleading in light of the circumstances  then existing.
In such instance,  Company shall use its best efforts to cure any such statement
or omission so as to render such statement or omission not misleading.

         9. Expenses of  Registration.  All  Registration  Expenses  incurred in
connection  with any  registration,  qualification,  or  compliance  pursuant to
Sections  5, 6 or 7 shall be borne  by the  Company.  All  Selling  Expenses  in
connection with any registration,  qualification,  or compliance hereunder shall
be borne by the Holders  pro-rata based on the number of Registrable  Securities
so registered.

         10.  Registration  Procedures.   In  the  case  of  each  registration,
qualification or compliance  effected by the Company pursuant to this Agreement,
the Company  will keep each Holder  advised in writing as to the  initiation  of
each  registration,  qualification  and  compliance  and  as to  the  completion
thereof.  In  connection  with  any  registration   effected  pursuant  to  this
Agreement,  the Company will prepare and file such amendments and supplements to
its registration  statement as may be necessary to comply with the provisions of
the Securities Act with respect to the disposition of all securities  covered by
such  registration  statement.  At its  expense,  the Company  will furnish such
number of  prospectuses  and other documents  incident  thereto as a Holder from
time to time may reasonably request.

         11. Termination of Registration Rights. The registration rights granted
pursuant to this Agreement shall terminate with respect to a particular  Holder,
such time as such Holder is eligible  to sell all of such  Holder's  Registrable
Securities under Rule 144 or other applicable  exemption from registration under
the Securities Act within a three month period.

         12. Indemnification.

                  To the extent  permitted by law,  the Company  will  indemnify
each Holder,  each of its  officers,  directors  and partners and such  Holder's
legal counsel and  independent  accountants,  and each person  controlling  such
Holder within the meaning of Section 15 of the  Securities  Act, with respect to
which  registration,  qualification or compliance has been effected  pursuant to
this Agreement,  and each underwriter,  if any, and each person who controls any
underwriter  within the meaning of Section 15 of the Securities Act, against all
expenses,  claims,  losses,  damages  and  liabilities  (or  actions  in respect
thereof),  including  any  of  the  foregoing  incurred  in  settlement  of  any
litigation,  commenced  or  threatened,  arising  out of or based on any  untrue
statement (or alleged  untrue  statement)  of a material  fact  contained in any
registration statement,  prospectus, offering circular or other document, or any
amendment   or   supplement   thereto,   incident  to  any  such   registration,
qualification or compliance,  or based on any omission (or alleged  omission) to
state therein a material fact required to be stated therein or necessary to make
the statements  therein,  in light of the circumstances in which they were made,
not  misleading,  or any violation by the Company of the  Securities  Act or the
Exchange  Act or the  securities  laws of any  state or any  rule or  regulation
thereunder,  and  relating  to action or  inaction  required  of the  Company in
connection with any such  registration,  qualification  or compliance,  and will
reimburse  each such Holder,  each of its  officers,  directors and partners and
such  Holder's  legal  counsel  and  independent  accountants,  and

                                      -9-
<PAGE>

each person  controlling such Holder,  each such underwriter and each person who
controls any such underwriter,  for any legal and any other expenses  reasonably
incurred in  connection  with  investigating,  preparing or  defending  any such
claim, loss, damage,  liability or action, provided that the Company will not be
liable  in any  such  case to the  extent  that any such  claim,  loss,  damage,
liability  or  expense  arises  out of or is based on any  untrue  statement  or
omission or alleged untrue  statement or omission,  made in reliance upon and in
conformity  with written  information  furnished to the Company by an instrument
duly executed by such Holder or underwriter  and stated to be  specifically  for
use therein; and provided,  further,  that the Company will not be liable to any
such person or entity with  respect to any such untrue  statement or omission or
alleged untrue statement or omission made in any preliminary  prospectus that is
corrected in the final  prospectus  filed with the  Commission  pursuant to Rule
424(b)  promulgated  under the Securities Act (or any amendment or supplement to
such  prospectus)  if the  person  asserting  any such  loss,  claim,  damage or
liability  purchased  securities  but  was  not  sent  or  given  a copy  of the
prospectus (as amended or supplemented) at or prior to the written  confirmation
of the sale of such securities to such person in any case where such delivery of
the prospectus (as amended or  supplemented)  is required by the Securities Act,
unless such failure to deliver the prospectus (as amended or supplemented) was a
result of the  Company's  failure  to provide  such  prospectus  (as  amended or
supplemented).

                  To the extent  permitted by law,  each Holder will,  severally
and not jointly,  if Registrable  Securities held by such Holder are included in
the  securities as to which such  registration,  qualification  or compliance is
being  effected,  indemnify the Company,  each of its directors and officers and
its legal counsel and independent accountants,  each underwriter, if any, of the
Company's securities covered by such a registration  statement,  each person who
controls the Company or such underwriter within the meaning of Section 15 of the
Securities Act, and each other such Holder, each of its officers,  directors and
partners and each person  controlling  such Holder within the meaning of Section
15 of the Securities Act,  against all claims,  losses,  damages and liabilities
(or actions in respect  thereof) arising out of or based on any untrue statement
(or  alleged  untrue  statement)  of a  material  fact  contained  in  any  such
registration statement,  prospectus, offering circular or other document, or any
omission (or alleged  omission) to state  therein a material fact required to be
stated  therein or necessary  to make the  statements  therein,  in light of the
circumstances  in which they were made, not  misleading,  and will reimburse the
Company,  such Holders,  such directors,  officers,  legal counsel,  independent
accountants, underwriters or control persons for any legal or any other expenses
reasonably  incurred in  connection  with  investigating  or defending  any such
claim, loss,  damage,  liability or action, in each case to the extent, but only
to the extent,  that such untrue  statement  (or alleged  untrue  statement)  or
omission  (or  alleged  omission)  is  made  in  such  registration   statement,
prospectus,  offering  circular  or  other  document  in  reliance  upon  and in
conformity  with written  information  furnished to the Company by an instrument
duly  executed by such  Holder and stated to be  specifically  for use  therein;
provided,  however,  that the  obligations  of such Holders  hereunder  shall be
limited to an amount equal to the proceeds,  net of  underwriting  discounts and
commissions but not expenses, to each such Holder of Registrable Securities sold
as contemplated herein.

                  Each party entitled to indemnification under this Section (the
"Indemnified  Party")  shall  give  notice  to the  party  required  to  provide
indemnification (the "Indemnifying Party")

                                      -10-
<PAGE>

promptly after such  Indemnified  Party has actual  knowledge of any claim as to
which indemnity may be sought, and shall permit the Indemnifying Party to assume
the defense of any such claim or any litigation  resulting  therefrom,  provided
that counsel for the  Indemnifying  Party, who shall conduct the defense of such
claim or litigation,  shall be approved by the Indemnified Party (whose approval
shall not be unreasonably  withheld),  and the Indemnified Party may participate
in such defense at such party's  expense,  and provided further that the failure
of any Indemnified Party to give notice as provided herein shall not relieve the
Indemnifying  Party of its  obligations  under  this  Agreement,  except  to the
extent, but only to the extent, that the Indemnifying  Party's ability to defend
against such claim or litigation is impaired as a result of such failure to give
notice.  No Indemnifying  Party, in the defense of any such claim or litigation,
shall,  except with the consent of each Indemnified  Party,  consent to entry of
any  judgment  or enter  into  any  settlement  which  does  not  include  as an
unconditional  term  thereof  the giving by the  claimant or  plaintiff  to such
Indemnified  Party of a release  from all  liability in respect to such claim or
litigation.

                  If the indemnification provided for in this Section 12 is held
by a court of competent  jurisdiction to be unavailable to an Indemnified  Party
with  respect to any loss,  liability,  claim,  damage,  or expense  referred to
therein,  then the Indemnifying  Party, in lieu of indemnifying such Indemnified
Party  hereunder,  shall  contribute  to the  amount  paid  or  payable  by such
indemnified party as a result of such loss, liability, claim, damage, or expense
in such  proportion  as is  appropriate  to reflect  the  relative  fault of the
Indemnifying  Party on the one hand and of the Indemnified Party on the other in
connection  with  the  statements  or  omissions  that  resulted  in such  loss,
liability,  claim,  damage,  or expense as well as any other relevant  equitable
considerations.  The  relative  fault  of  the  Indemnifying  Party  and  of the
Indemnified  Party shall be  determined  by reference  to,  among other  things,
whether  the  untrue or  alleged  untrue  statement  of a  material  fact or the
omission  to state a  material  fact  relates  to  information  supplied  by the
Indemnifying Party or by the Indemnified Party and the parties' relative intent,
knowledge,  access to  information,  and  opportunity to correct or prevent such
statement or omission. In no event shall any contribution by a Holder under this
Section  12(d)  combined  with any amounts paid pursuant to Section 12(b) above,
exceed the  proceeds,  net of  underwriting  discounts and  commissions  but not
expenses, from the offering received by such Holder.

                                      -11-
<PAGE>

         13.  Information  by  Holder.  The  Holder or  Holders  of  Registrable
Securities  included  in any  registration  shall  furnish to the  Company  such
information  regarding such Holder or Holders and the  distribution  proposed by
such  Holder or Holders as the  Company  may  request in writing and as shall be
required  in  connection  with any  registration,  qualification  or  compliance
referred to in this Agreement.

         14. Rule 144 Reporting. With a view to making available the benefits of
certain rules and regulations of the Commission which may at any time permit the
sale of the  Restricted  Securities  to the  public  without  registration,  the
Company agrees to use its best efforts to:

                  (a) make and keep public information available, as those terms
are understood and defined in Rule 144 promulgated under the Securities Act;

                  (b) file with the  Commission  in a timely  manner all reports
and other  documents  required of the Company under the  Securities  Act and the
Exchange Act; and

                  (c) furnish to Holders upon request a written  statement as to
its compliance with the reporting requirements of Rule 144 and of the Securities
Act and the Exchange Act, a copy of the most recent  annual or quarterly  report
of the Company,  and such other reports and documents of the Company as a Holder
may  reasonably  request in  availing  itself of any rule or  regulation  of the
Commission   allowing   such  Holder  to  sell  any  such   securities   without
registration.

         15.  Transfer  of Rights.  Provided  that the  Company  is given  prior
written notice of such  assignment,  the rights  granted  hereunder to cause the
Company to register  securities  may be assigned to (i) a transferee or assignee
who  acquires at least 5,000  shares of  Registrable  Securities  (appropriately
adjusted for any stock split, stock dividend, recapitalization, or similar event
after the date hereof) and who agrees to be bound by the terms and conditions of
this Agreement or (ii) any affiliate or constituent partner of a Holder.

         16. Board of Directors  Observer Rights.  Each Investor not represented
on the Company's  Board of Directors shall have the right to attend all meetings
of the  Board  of  Directors  in a  non-voting  observer  capacity,  and in that
respect,  the  Company  shall  give  each such  person  or entity  copies of all
notices,  minutes,  consents and other  material  that it provides to directors;
provided,  however,  that  the  Company  reserves  the  right  to  exclude  such
representative(s)  from access to any material or meeting or portion  thereof if
the Company  believes  upon advice of counsel that such  exclusion is reasonably
necessary  to  preserve  the  attorney-client   privilege,   to  protect  highly
confidential proprietary information or for other similar reasons. Each Investor
agrees,  and  any  representative  of  such  Investor  will  agree,  to  hold in
confidence  and trust and not use or  disclose  to any person  any  confidential
information  provided to or learned by it in  connection  with its rights  under
this  Section  16.  The  confidentiality  provisions  above  shall  survive  any
termination   of  this   Agreement.   The  rights  under  this  Section  16  are
nonassignable,  except to permitted  transferees of shares who are affiliates of
the  transferring  party and who acquire  all of the shares of the  transferring
party.

                                      -12-
<PAGE>

         17. Miscellaneous

                  (a)  Governing  Law. This  Agreement  shall be governed by and
interpreted  in  accordance  with the laws of the State of  California,  without
regard to the conflicts of laws provisions thereof.  The parties hereto agree to
submit to the  jurisdiction  of the  federal  and  state  courts of the State of
California with respect to the breach or interpretation of this Agreement or the
enforcement of any and all rights, duties, liabilities,  obligations, powers and
other relations between the parties arising under this Agreement.

                  (b)  Notices,   etc.  All  notices  and  other  communications
required  or  permitted  hereunder  shall be in  writing  and  shall  be  deemed
effectively  given upon  delivery  to the party to be  notified  in person or by
courier  service or five (5) days after  deposit with the United States mail, by
registered or certified mail,  postage prepaid,  addressed (a) if to a Holder of
any Registrable Securities,  to such address as such Holder shall have furnished
the Company in writing, or, until any such Holder so furnishes an address to the
Company,  then to and at the address of the last holder of such  securities  who
has so  furnished an address to the  Company,  or (b) if to the Company,  to the
address of its principle executive offices and addressed to the attention of the
Chief  Executive  Officer,  or at such other  address as the Company  shall have
furnished to the Holders in writing.

                  (c) Amendment. Any provision of this Agreement may be amended,
waived or modified upon the written  consent of (i) the Company and (ii) Holders
of a majority of the then  outstanding  Registrable  Securities.  Any Holder may
waive any of his or her rights or the Company's  obligations  hereunder  without
obtaining the consent of any other person.

                  (d) Entire Agreement.  This Agreement constitutes the full and
entire  understanding  among the parties  regarding the subject  matter  herein.
Except as otherwise expressly provided herein, the provisions hereof shall inure
to the  benefit  of,  and be  binding  upon,  the  successors,  assigns,  heirs,
executors and administrators of the parties hereto.

                  (e) Counterparts. This Agreement may be executed in any number
of  counterparts,  each of which shall be an original and all of which  together
shall constitute one instrument.

                                      -13-
<PAGE>

         IN WITNESS  WHEREOF,  the  undersigned  have  executed this Amended and
Restated Registration Rights Agreement as of the date set forth above.

"COMPANY"                           ORYX TECHNOLOGY CORPORATION
                                    a Delaware corporation

                                    By:    /s/ Philip J. Micciche
                                           -------------------------------------
                                    Name:  Philip J. Micciche
                                    Title: President and Chief Executive Officer

"INVESTORS"                         CRENSHAW INVESTMENTS

                                    By:    /s/ Peter J. Brigham
                                           -------------------------------------
                                           Name:  Peter J. Brigham
                                           Title: Secretary

                                    VMR HIGH OCTANE FUND

                                    By:    /s/ Richard Hubbard
                                           -------------------------------------
                                           Name:  Richard Hubbard
                                           Title: Director

                                    NORTHLEA PARTNERS LTD.

                                    By:    /s/ John H. Abeles
                                           -------------------------------------
                                           Name:  John H. Abeles, M.D.
                                           Title: General Partner

                                      -14-
<PAGE>

                                    SIGMA INTERNATIONAL II, L.P.,
                                    a Caymen Islands Limited Partnership

                                    By:  Lanton Investments, as General Partner

                                    By:    /s/ Richard Hubbard
                                           -------------------------------------
                                           Name:  Richard Hubbard
                                           Title: Director

                                    COLUMBUS NOVA INVESTMENTS A.V.V.

                                    By:    /s/ Andrew Intrater
                                           -------------------------------------
                                           Name:  Andrew Intrater
                                           Title: Managing Partner

                                           /s/  W. James Tozer, Jr.
                                           -------------------------------------
                                           W. James Tozer, Jr.

                                       15
<PAGE>

                                    EXHIBIT E

                              Financial Statements
                              --------------------

                                       1<PAGE>

                                                                   Exhibit 10.39

                              EMPLOYMENT AGREEMENT

      AGREEMENT made as of this 1st day of October, 2003, by and among Cedar
Shopping Centers, Inc., a Maryland corporation (the "Corporation"), Cedar
Shopping Centers Partnership, L.P., a Delaware limited partnership (the
"Partnership"), and Leo S. Ullman (the "Executive").

      1. Position and Responsibilities.

            1.1 The Executive shall serve in an executive capacity as Chairman,
President and Chief Executive Officer of both the Corporation and the
Partnership with duties consistent therewith and shall perform such other
functions and undertake such other responsibilities as are customarily
associated with such capacity. The Executive shall also hold such directorships
and officerships in the Corporation, the Partnership and any of their
subsidiaries to which, from time to time, the Executive may be elected or
appointed during the term of this Agreement.

            1.2 The Executive shall devote Executive's full business time and
skill to the business and affairs of the Corporation and the Partnership and to
the promotion of their interests.

      2. Term of Employment.

            2.1 The term of employment shall be four years, commencing with the
date hereof, unless sooner terminated as provided in this Agreement.

            2.2 Notwithstanding the provisions of Section 2.1 hereof, each of
the Corporation and the Partnership shall have the right, on written notice to
the Executive, to terminate the Executive's employment for Cause (as defined in
Section 2.3), such termination

<PAGE>

to be effective as of the date on which notice is given or as of such later date
otherwise specified in the notice and, upon such termination of employment for
Cause, Executive shall not be entitled to receive any additional compensation
hereunder. The Executive shall have the right, on written notice to the
Corporation and the Partnership, to terminate the Executive's employment for
Good Reason (as defined in Section 2.4), such termination to be effective as of
the date on which notice is given or as of such later date otherwise specified
in the notice; provided, however, the Executive's right to terminate Executive's
employment shall lapse 60 days after the occurrence of any of the events
specified in clauses (iii) or (iv) of the definition of Good Reason.

            2.3 For purposes of this Agreement, the term "Cause" shall mean any
of the following actions by the Executive: (a) failure to comply with any of the
material terms of this Agreement, which shall not be cured within 10 days after
written notice, or if the same is not of a nature that it can be completely
cured within such 10 day period, if Executive shall have failed to commence to
cure the same within such 10 day period and shall have failed to pursue the cure
of the same diligently thereafter; (b) engagement in gross misconduct injurious
to the business or reputation of the Corporation or the Partnership; (c) knowing
and willful neglect or refusal to attend to the material duties assigned to the
Executive by the Board of Directors of the Corporation, which shall not be cured
within 10 days after written notice; (d) intentional misappropriation of
property of the Corporation or the Partnership to the Executive's own use; (e)
the commission by the Executive of an act of fraud or embezzlement; (f)
Executive's conviction for a felony; (g) Executive's engaging in any activity
which is prohibited pursuant to Section 5 of this Agreement, which shall not be
cured within 10 days after written notice.

                                       2
<PAGE>

            2.4 For purposes of this Agreement, the term "Good Reason" shall
mean any of the following: (i) a material breach of this Agreement by the
Corporation or the Partnership which shall not be cured within 10 days after
written notice; (ii) a material reduction in the Executive's duties or
responsibilities; (iii) the relocation of the Executive's office or the
Corporation's or Partnership's executive offices to a location more than 30
miles from New York City; or (iv) a "Change in Control", as defined below. As
used herein, a "Change in Control" shall be deemed to occur if: (i) there shall
be consummated (x) any consolidation or merger of the Corporation or the
Partnership in which the Corporation or the Partnership is not the continuing or
surviving corporation or pursuant to which the stock of the Corporation or the
units of the Partnership would be converted into cash, securities or other
property, other than a merger or consolidation of the Corporation or Partnership
in which the holders of the Corporation's stock immediately prior to the merger
or consolidation hold more than fifty percent (50%) of the stock or other forms
of equity of the surviving corporation immediately after the merger, or (y) any
sale, lease, exchange or other transfer (in one transaction or series of related
transactions) of all, or substantially all, the assets of the Corporation or the
Partnership; (ii) the Board approves any plan or proposal for liquidation or
dissolution of the Corporation or the Partnership; or (iii) any person, other
than Cedar Bay Company or an affiliated entity, acquires more than 29% of the
issued and outstanding common stock of the Corporation.

      3. Compensation.

            3.1 The Partnership shall pay to the Executive for the services to
be rendered by the Executive hereunder to the Corporation and the Partnership a
base salary at the rate of $350,000 per annum. The base salary shall be payable
in accordance with the Corporation's or

                                       3
<PAGE>

Partnership's normal payroll practices, but not less frequently than twice a
month. Such base salary will be reviewed at least annually and may be increased
(but not decreased) by the Board of Directors of the Corporation in its sole
discretion. The Board of Directors of the Corporation in its sole discretion may
grant to the Executive a bonus to be paid by the Corporation or Partnership, at
any time and from time to time.

            3.2 The Executive shall be entitled to participate in, and receive
benefits from, on the basis comparable to other senior executives, any
insurance, medical, disability, or other employee benefit plan of the
Corporation, the Partnership or any of their subsidiaries which may be in effect
at any time during the course of Executive's employment by the Corporation and
the Partnership and which shall be generally available to senior executives of
the Corporation, the Partnership or any of their subsidiaries.

            3.3 The Partnership agrees to reimburse the Executive for all
reasonable and necessary business expenses incurred by the Executive on behalf
of the Corporation or the Partnership in the course of Executive's duties
hereunder upon the presentation by the Executive of appropriate vouchers
therefor, including continuing legal education, professional licenses and
organizations and conferences approved by the Board of Directors (or a committee
thereof).

            3.4 The Executive shall be entitled each year of this Agreement to
paid vacation in accordance with the Corporation's or Partnership's policies but
not less than 4 weeks plus personal and floating holidays (and a ratable number
of sick days), which if not taken during such year will be forfeited (unless
management requests postponement).

            3.5 In recognition of Executive's need for an automobile for
business purposes, the Corporation or the Partnership will reimburse the
Executive for Executive's use

                                       4
<PAGE>

of an automobile, including lease payments, if any, and all related costs,
including maintenance, gasoline and insurance; provided, however, that such
amount shall not exceed $450.00 a month. Insurance, maintenance and gas for
business use is additional.

            3.6 If, during the period of employment hereunder, because of
illness or other incapacity, the Executive shall fail for a period of 90
consecutive days, or for shorter periods aggregating more than six months during
the term of this Agreement, to render the services contemplated hereunder, then
the Corporation or the Partnership, at either of their options, may terminate
the term of employment hereunder by notice from the Corporation or the
Partnership, as the case may be, to the Executive, effective on the giving of
such notice. During any period of disability of Executive during the term
hereof, the Corporation shall continue to pay to Executive the salary and bonus
to which the Executive is entitled pursuant to Section 3.1 hereof.

            3.7 In the event of the death of the Executive during the term
hereof, the employment hereunder shall terminate on the date of death of the
Executive.

            3.8 Each of the Corporation and the Partnership shall have the right
to obtain for their respective benefits an appropriate life insurance policy on
the life of the Executive, naming the Corporation or the Partnership as the
beneficiary. If requested by the Corporation or the Partnership, the Executive
agrees to cooperate with the Corporation or the Partnership, as the case may be,
in obtaining such policy.

      4. Severance Compensation Upon Termination of Employment.

            4.1 If the Executive's employment with the Corporation or the
Partnership shall be terminated (a) by the Corporation or Partnership other than
for Cause or pursuant to

                                       5
<PAGE>

Sections 3.6 or 3.7, or (b) by the Executive for Good Reason, then the
Corporation and the Partnership shall:

                        (i) pay to the Executive as severance pay, within five
      days after termination, a lump sum payment equal to 250% of the sum of the
      Executive's annual salary at the rate applicable on the date of
      termination and the average of the Executive's annual bonus for the
      preceding two full fiscal years; provided, however, that the average of
      the Executive's annual bonus for (x) the first year of this Agreement
      shall be the Executive's annual salary and (y) during the second year of
      this Agreement shall be the actual annual bonus for such year. If the
      severance payment under this Section 4.1, either alone or together with
      other payments which the Executive has the right to receive from the
      Corporation would not be deductible (in whole or in part) by the
      Corporation as a result of such payment constituting a "parachute payment"
      (as defined in Section 280G of the Internal Revenue Code of 1986, as
      amended (the "Code")), such severance payment shall be reduced to the
      largest amount as will result in no portion of the severance payment under
      this Section 4.1 not being fully deductible by the Corporation as a result
      of Section 280G of the Code. The determination of any reduction in the
      severance payment under this Section 4.1 pursuant to the foregoing proviso
      shall be made exclusively by the Corporation's independent accountants
      (whose fees and expenses shall be borne by the Corporation), and such
      determination shall be conclusive and binding;

                        (ii) arrange to provide Executive, for a 12 month period
      (or such shorter period as Executive may elect), with disability, accident
      and health insurance substantially similar to those insurance benefits
      which Executive is receiving

                                       6
<PAGE>

      immediately prior to the earlier of a Change in Control, if any, or the
      date of termination to the extent obtainable upon reasonable terms;
      provided, however, if it is not so obtainable the Corporation shall pay to
      the Executive in cash the annual amount paid by the Corporation or the
      Partnership for such benefits during the previous year of the Executive's
      employment. Benefits otherwise receivable by Executive pursuant to this
      Section 4.1(ii) shall be reduced to the extent comparable benefits are
      actually received by the Executive during such 12 month period following
      his termination (or such shorter period elected by the Executive), and any
      such benefits actually received by Executive shall be reported by the
      Executive to the Corporation; and

                        (iii) any options granted to Executive to acquire common
      stock of the Corporation which have not vested shall immediately vest on
      such termination.

            4.2 (a) The Executive shall not be required to mitigate damages or
the amount of any payment provided for under this Agreement by seeking other
employment or otherwise, nor, except to the extent provided in Section 4.1
above, shall the amount of any payment provided for under this Agreement be
reduced by any compensation earned by the Executive as a result of employment by
another employer or by insurance benefits after the date of termination, or
otherwise.

                (a) The provisions of this Agreement, and any payment provided
for hereunder, shall not reduce any amounts otherwise payable, or in any way
diminish the Executive's existing rights, or rights which would accrue solely as
a result of the passage of time, under any benefit plan of the Corporation or
Partnership, or other contract, plan or arrangement.

                                       7
<PAGE>

      5. Other Activities During Employment.

            5.1 The Executive shall not during the term of this Agreement
undertake or engage in any other employment, occupation or business enterprise.
Subject to compliance with the provisions of this Agreement, the Executive may
engage in reasonable activities with respect to personal investments of the
Executive.

            5.2 During the term of this Agreement, without the prior approval of
the Board of Directors, neither the Executive nor any entity in which he may be
interested as a partner, trustee, director, officer, employee, shareholder,
option holder, lender of money or guarantor, shall be engaged directly or
indirectly in any real estate development, leasing, marketing or management
activities other than through the Corporation and the Partnership, except for
activities existing on the date of this Agreement which have been disclosed to
the Corporation; provided, however, that the foregoing shall not be deemed to
(a) prohibit the Executive from being on the Board of Directors of another
entity, (b) prevent the Executive from investing in securities if such class of
securities in which the investment is so made is listed on a national securities
exchange or is issued by a company registered under Section 12(g) of the
Securities Exchange Act of 1934, so long as such investment holdings do not, in
the aggregate, constitute more than 1% of the voting stock of any company's
securities or (c) prohibit passive investments, subject to any limitations
contained in subparagraph (b) above.

            5.3 The Executive shall not at any time during this Agreement or
after the termination hereof directly or indirectly divulge, furnish, use,
publish or make accessible to any person or entity any Confidential Information
(as hereinafter defined), except pursuant to subpoena, court order or applicable
law. Any records of Confidential Information prepared by

                                       8
<PAGE>

the Executive or which come into Executive's possession during this Agreement
are and remain the property of the Corporation or the Partnership, as the case
may be, and upon termination of Executive's employment all such records and
copies thereof shall be either left with or returned to the Corporation or the
Partnership, as the case may be.

            5.4 The term "Confidential Information" shall mean information
disclosed to the Executive or known, learned, created or observed by Executive
as a consequence of or through employment by the Corporation and the
Partnership, not generally known in the relevant trade or industry, about the
Corporation's or the Partnership's business activities, services and processes,
including but not limited to information concerning advertising, sales
promotion, publicity, sales data, research, copy, leasing, other printed matter,
artwork, photographs, reproductions, layout, finances, accounting, methods,
processes, business plans, contractors, lessee and supplier lists and records,
potential lessee and supplier lists, and contractor, lessee or supplier billing.

      6. Post-Employment Activities.

            6.1 During the term of employment hereunder, and for a period of one
year after termination of employment, regardless of the reason for such
termination other than by the Corporation or Partnership without Cause or by the
Executive for Good Reason, the Executive shall not directly or indirectly become
employed by, act as a consultant to, or otherwise render any services to any
person, corporation, partnership or other entity which is engaged in, or about
to become engaged in, the retail shopping center business or any other business
which is competitive with the business of the Corporation, the Partnership or
any of their subsidiaries nor shall Executive use Executive's talents to make
any such business competitive with the business of the Corporation, the
Partnership or any of their subsidiaries. For the purpose of this

                                       9
<PAGE>

Section, a retail shopping center business or other business shall be deemed to
be competitive if it involves the ownership, operation, leasing or management of
any retail shopping centers which draw from the same related trade area, which
is deemed to be within a radius of 10 miles from the location of (a) any then
existing shopping centers of the Corporation, the Partnership or any of their
subsidiaries or (b) any proposed centers for which the site is owned or under
contract, is under construction or is actively being negotiated. The Executive
shall be deemed to be directly or indirectly engaged in a business if Executive
participates therein as a director, officer, stockholder, employee, agent,
consultant, manager, salesman, partner or individual proprietor, or as an
investor who has made advances or loans, contributions to capital or
expenditures for the purchase of stock, or in any capacity or manner whatsoever;
provided, however, that the foregoing shall not be deemed to prevent the
Executive from investing in securities if such class of securities in which the
investment is so made is listed on a national securities exchange or is issued
by a company registered under Section 12(g) of the Securities Exchange Act of
1934, so long as such investment holdings do not, in the aggregate, constitute
more than 1% of the voting stock of any company's securities.

            6.2 The Executive acknowledges that Executive has been employed for
Executive's special talents and that Executive's leaving the employ of the
Corporation and the Partnership would seriously hamper the business of the
Corporation and the Partnership. The Executive agrees that the Corporation and
the Partnership shall each be entitled to injunctive relief, in addition to all
remedies permitted by law, to enforce the provisions of Sections 5 and 6 hereof.
The Executive further acknowledges that Executive's training, experience and
technical skills are of such breadth that they can be employed to advantage in
other areas which are not competitive with the present business of the
Corporation and the Partnership and

                                       10
<PAGE>

consequently the foregoing obligation will not unreasonably impair Executive's
ability to engage in business activity after the termination of Executive's
present employment.

            6.3 The Executive will not, during the period of one year after
termination of employment, regardless of the reason for such termination, hire
or offer to hire or entice away or in any other manner persuade or attempt to
persuade, either in Executive's individual capacity or as agent for another, any
of the Corporation's, the Partnership's or any of their subsidiaries' officers,
employees or agents to discontinue their relationship with the Corporation, the
Partnership or any of their subsidiaries nor divert or attempt to divert from
the Corporation, the Partnership or any of their subsidiaries any business
whatsoever by influencing or attempting to influence any contractor, lessee or
supplier of the Corporation, the Partnership or any of their subsidiaries.

      7. Assignment. This Agreement shall inure to the benefit of and be binding
upon the Corporation, the Partnership and their successors and assigns, and upon
the Executive and Executive's heirs, executors, administrators and legal
representatives. The Corporation and the Partnership will require any successor
or assign to all or substantially all of their business or assets to assume and
perform this Agreement in the same manner and to the same extent that the
Corporation and the Partnership would be required to perform if no such
succession or assignment had taken place. This Agreement shall not be assignable
by the Executive.

      8. No Third Party Beneficiaries. This Agreement does not create, and shall
not be construed as creating, any rights enforceable by any person not a party
to this Agreement, except as provided in Section 7 hereof.

      9. Headings. The headings of the sections hereof are inserted for
convenience only and shall not be deemed to constitute a part hereof nor to
affect the meaning thereof.

                                       11
<PAGE>

      10. Interpretation. In case any one or more of the provisions contained in
this Agreement shall, for any reason, be held to be invalid, illegal or
unenforceable in any respect, such invalidity, illegality or unenforceability
shall not affect any other provisions of this Agreement, and this Agreement
shall be construed as if such invalid, illegal or unenforceable provisions had
never been contained herein. If, moreover, any one or more of the provisions
contained in this Agreement shall for any reason be held to be excessively broad
as to duration, geographical scope, activity or subject, it shall be construed
by limiting and reducing it, so as to be enforceable to the extent compatible
with the applicable law as it shall then appear.

      11. Notices. All notices under this Agreement shall be in writing and
shall be deemed to have been given at the time when mailed by registered or
certified mail, addressed to the address below stated of the party to which
notice is given, or to such changed address as such party may have fixed by
notice:

      To the Corporation
      or the Partnership:

                                    Cedar Shopping Centers, Inc.
                                    44 South Bayles Avenue
                                    Port Washington, NY 11050
                                    Attn:  President
      To the Executive:
                                    Leo S. Ullman
                                    5 Sea Coast Lane
                                    Sands Point, NY  11050

provided, however, that any notice of change of address shall be effective only
upon receipt.

                                       12
<PAGE>

      12. Waivers. If either party should waive any breach of any provision of
this Agreement, he or it shall not thereby be deemed to have waived any
preceding or succeeding breach of the same or any other provision of this
Agreement.

      13. Complete Agreement; Amendments. The foregoing is the entire agreement
of the parties with respect to the subject matter hereof and may not be amended,
supplemented, cancelled or discharged except by written instrument executed by
both parties hereto.

      14. Governing Law. This Agreement is to be governed by and construed in
accordance with the laws of the State of New York without giving effect to
principles of conflicts of law.

      15. Counterparts. This Agreement may be executed in counterparts, all of
which together shall constitute one agreement binding on all of the parties
hereto, notwithstanding that all such parties are not signatories to the same
counterpart.

      16. Arbitration. Mindful of the high cost of litigation, not only in
dollars but time and energy as well, the parties intend to and do hereby
establish a quick, final and binding out-of-court dispute resolution procedure
to be followed in the unlikely event any controversy should arise out of or
concerning the performance of this Agreement. Accordingly, the parties do hereby
covenant and agree that any controversy, dispute or claim of whatever nature
arising out of, in connection with or in relation to the interpretation,
performance or breach of this Agreement, including any claim based on contract,
tort or statute, shall be settled, at the request of any party to this
Agreement, through arbitration by a dispute resolution process administered by
JAMS or any other mutually agreed upon arbitration firm involving final and
binding arbitration conducted at a location determined by the arbitrator in New
York City administered by and in accordance with the then existing rules of
practice and procedure of such arbitration

                                       13
<PAGE>

firm and judgment upon any award rendered by the arbitrator may be entered by
any state or federal court having jurisdiction thereof; provided, however, that
the Corporation and the Partnership shall be entitled to seek judicial relief to
enforce the provisions of Sections 5 and 6 of this Agreement.

      17. Indemnification. During this Agreement and thereafter, the Corporation
and the Partnership shall indemnify the Executive to the fullest extent
permitted by law against any judgments, fine, amounts paid in settlement and
reasonable expenses (including attorneys' fees) in connection with any claim,
action or proceeding (whether civil or criminal) against the Executive as a
result of the Executive serving as an officer or director of the Corporation or
the Partnership, in or with regard to any other entity, employee benefit plan or
enterprise (other than arising out of the Executive's act of willful misconduct,
gross negligence, misappropriation of funds, fraud or breach of this Agreement).
This indemnification shall be in addition to, and not in lieu of, any other
indemnification the Executive shall be entitled to pursuant to the Corporation's
or Partnership's Articles of Incorporation, By-Laws, Agreement of Limited
Partnership or otherwise. Following the Executive's termination of employment,
the Corporation and the Partnership shall continue to cover the Executive under
the then existing director's and officer's insurance, if any, for the period
during which the Executive may be subject to potential liability for any claim,
action or proceeding (whether civil or criminal) as a result of his service as
an officer or director of the Corporation or the Partnership or in any capacity
at the request of the Corporation or the Partnership, in or with regard to any
other entity, employee benefit plan or enterprise on the same terms such
coverage was provided during this Agreement, at the highest level then
maintained for any then current or former officer or director.

                                       14
<PAGE>

      IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date first above written.

                                    Cedar Shopping Centers, Inc.

                                    By:  _____________________________________
                                         Title:

                                    Cedar Shopping Centers Partnership, L.P.

                                    By: Cedar Shopping Centers, Inc.,
                                        General Partner

                                    By:  _____________________________________
                                         Title:

                                    __________________________________________
                                    Leo S. Ullman

                                       15

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