Document:

Exhibit
      4.1

    

    Exhibit
      A

    

    THE
      SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT, AND THE SECURITIES INTO
      WHICH THESE SECURITIES ARE EXCHANGEABLE OR CONVERTIBLE WILL NOT BE, REGISTERED
      WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF
      ANY
      STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
      ACT
      OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED
      OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
      SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION
      NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
      ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION
      OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE
      REASONABLY ACCEPTABLE TO THE COMPANY. THESE SECURITIES AND THE SECURITIES
      ISSUABLE UPON EXCHANGE OR CONVERSION OF THESE SECURITIES MAY BE PLEDGED IN
      CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH
      SECURITIES.

    

    
      	
              Debenture
                No. ______________

            	 
	 	 
	
              Principal
                Amount: $__________

            	
              Issue
                Date: December 7, 2006

            
	 	 
	
              Initial
                Conversion Price: $_________

            	 

    

    

    SECURED
      DEBENTURE

     

    FOR
      VALUE
      RECEIVED, USTELEMATICS, INC., a Delaware corporation (hereinafter called
“Borrower”), hereby promises to pay to the person identified beldow (the
“Holder”) or order, without demand, the principal amount described below
      (“Principal Amount”), with interest accruing at the compounded annual rate of
      nine percent (9%), on December 7, 2008 (the “Maturity Date”).

     

    
      	
              Holder:

            	 

    

    
      	 	 
	
              Principal
                Amount:

            	 

    

    

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

       

    

    This
      Debenture has been entered into pursuant to the terms of a Securities Purchase
      Agreement between the Borrower and the Holder, dated of even date herewith
      (the
“Purchase Agreement”), and shall be governed by the terms of such Purchase
      Agreement. Unless otherwise separately defined herein, all capitalized terms
      used in this Debenture shall have the same meaning as is set forth in the
      Purchase Agreement. The following terms shall apply to this
      Debenture:

    

    ARTICLE
      I

    

    GENERAL
      PROVISIONS

    

    1.1 Prepayment.
      The
      Debenture shall be payable in full on the Maturity Date; and may not be prepaid
      without the consent of the Holder.

    

    1.2 Interest
      Rate.
      Simple
      interest payable on this Debenture shall accrue from the date of this Debenture
      at the annual rate of nine percent (9%) and be payable quarterly on the last
      day
      of May, August, November and February each year, with all accrued, unpaid
      interest due and payable on the Maturity Date, accelerated or otherwise, when
      the principal and remaining accrued but unpaid interest shall be due and
      payable. Interest shall be paid in cash or, at the option of the Borrower post
      an effective registration, in registered Common Stock of the Borrower (at a
      20%
      discount to the average of the lowest 3 intra-day trading prices during the
      20
      trading days immediately prior to the interest payment due date). If an Event
      of
      Default (as defined below) occurs, whether or not such Event of Default is
      cured, the interest rate of this Debenture shall accrue from the Issue Date
      at
      the annual compounded rate of eighteen percent (18%).

    

    1.3 Payment
      Grace Period.
      The
      Borrower shall have a five (5) business day grace period to pay any monetary
      amounts due under this Debenture.

    

    1.4 Conversion.
      The
      Principal Amount of this Debenture and all accrued, unpaid interest thereon
      shall be convertible at any time before the Maturity Date, in part or in whole,
      at the written election of the Holder into fully paid and non-assessable shares
      of the $0.0001 par value Common Stock of the Borrower at the Conversion Price
      under the terms and upon the conditions describe in Section 4.25 of the Purchase
      Agreement. Before any adjustment required by the Purchase Agreement, the
      Purchased Debenture Conversion Price is $0.50 per share, and the Exchange
      Debenture Conversion Price is $0.375 per share. Upon delivery to Borrower of
      written notice that a Holder elects to convert some or all of this Debenture
      into Common Stock, Borrower shall deliver certificates representing the shares
      of Common Stock to be issued upon conversion within 3 business days of receipt
      on the Notice, and shall otherwise comply with the requirements of the Purchase
      Agreement applicable to conversion of the Debenture.

    

    1.5
        Maximum
      Conversion. 
      The Holder shall not be entitled to convert on a Conversion Date that amount
      of
      the Debenture in connection with that number of Common Shares which would be
      in
      excess of the sum of (i) the number of Common Shares beneficially owned by
      the
      Holder and its affiliates on a Conversion Date, (ii) any Common Shares issuable
      in connection with the unconverted portion of the Debenture, and (iii) the
      number of Common Shares issuable upon the conversion of the Debenture with
      respect to which the determination of this provision is being made on a
      Conversion Date, which would result in beneficial ownership by the Holder and
      its affiliates of more than 4.99% of the shares of outstanding Common Stock
      of
      the Borrower on such Conversion Date.  For the purposes of the provision to
      the immediately preceding sentence, beneficial ownership shall be determined
      in
      accordance with Section 13(d) of the Securities Exchange Act of 1934, as
      amended, and Regulation 13d-3 thereunder.  Subject to the foregoing, the
      Holder shall not be limited to aggregate conversions of only 4.99% and aggregate
      conversion by the Holder may exceed 4.99%.  The Holder shall have the
      authority and obligation to determine whether the restriction contained in
      this
      Section 2.3 will limit any conversion hereunder and to the extent that the
      Holder determines that the limitation contained in this Section applies, the
      determination of which portion of the Debentures are convertible shall be the
      responsibility and obligation of the Holder.  The Holder may waive the
      conversion limitation described in this Section 2.3, in whole or in part, upon
      and effective after 61 days prior written notice to the Borrower to increase
      such percentage to up to 9.99%. 

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    1.6
       Merger,
      Sale of Assets, etc. 
If
      the Borrower at any time shall consolidate with or merge into or sell or convey
      all or substantially all its assets to any other corporation, this Debenture,
      as
      to the unpaid principal portion thereof and accrued interest thereon, shall
      thereafter be deemed to evidence the right to convert the Debenture into such
      number and kind of shares or other securities and property as would have been
      issuable or distributable on account of such consolidation, merger, sale or
      conveyance, upon or with respect to the securities subject to the conversion
      immediately prior to such consolidation, merger, sale or conveyance.  The
      foregoing provision shall similarly apply to successive transactions of a
      similar nature by any such successor or purchaser.  Without limiting the
      generality of the foregoing, the anti-dilution provisions of this Section shall
      apply to such securities of such successor or purchaser after any such
      consolidation, merger, sale or conveyance. 

    

    1.7
       Reclassification,
      etc. 
If
      the Borrower at any time shall, by reclassification or otherwise, change the
      Common Shares into the same or a different number of securities of any class
      or
      classes that may be issued or outstanding, this Debenture, as to the unpaid
      principal portion thereof and accrued interest thereon, shall thereafter be
      deemed to evidence the right to convert into an adjusted number of such
      securities and kind of securities as would have been issuable as the result
      of
      such change with respect to the Common Shares immediately prior to such
      reclassification or other change. 

    

    1.8
       Stock
      Splits, Combinations and Dividends. 
      If the Common Shares are subdivided or combined into a greater or smaller number
      of Common Shares, or if a dividend is paid on the Common Shares in Common
      Shares, the Conversion Price shall be proportionately reduced in case of
      subdivision of shares or stock dividend or proportionately increased in the
      case
      of combination of shares, in each such case by the ratio which the total number
      of Common Shares outstanding immediately after such event bears to the total
      number of Common Shares outstanding immediately prior to such event. In addition
      the holder of this Debenture is entitled to certain non-dilution rights
      described in Section 4.25(d) of the Purchase Agreement.

    

    ARTICLE
      II

    

    EVENTS
      OF DEFAULT

    

    The
      occurrence of any of the following events of default (“Event of Default”) shall,
      at the option of the Holder hereof, make all sums of principal and interest
      then
      remaining unpaid hereon and all other amounts payable hereunder immediately
      due
      and payable, upon demand, without presentment, or grace period, all of which
      hereby are expressly waived, except as set forth below:

    

    2.1 Failure
      to Pay Principal or Interest, or to Deliver Shares.
      The
      Borrower fails to pay any installment of principal, interest or other sum due
      under this Debenture when due, or fails to timely deliver certificate
      representing share of Common Stock issuable upon conversion after receipt on
      notice of election to convert from the Holder, and such failure continues for
      a
      period of five (5) business days after the due date. The five (5) business
      day
      period described in this Section 2.1 is the same five (5) business day period
      described in Section 1.3 hereof.

    

    2.2 Breach
      of Covenant.
      The
      Borrower breaches any material covenant or other term or condition of the
      Purchase Agreement or this Debenture in any material respect and such breach,
      if
      subject to cure, continues for a period of ten (10) business days after written
      notice to the Borrower from the Holder.

    

    2.3 Breach
      of Representations and Warranties.
      Any
      material representation or warranty of the Borrower made herein, in the Purchase
      Agreement, or in any agreement, statement or certificate given in writing
      pursuant hereto or in connection therewith shall be false or misleading in
      any
      material respect as of the date made and a Closing Date.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

    2.4 Receiver
      or Trustee.
      The
      Borrower shall make an assignment for the benefit of creditors, or apply for
      or
      consent to the appointment of a receiver or trustee for it or for a substantial
      part of its property or business; or such a receiver or trustee shall otherwise
      be appointed.

    

    2.5 Judgments.
      Any
      money judgment, writ or similar final process shall be entered or filed against
      Borrower or any of its property or other assets for more than $50,000, and
      shall
      remain unvacated, unbonded or unstayed for a period of forty-five (45)
      days.

    

    2.6 Bankruptcy.
      Bankruptcy, insolvency, reorganization or liquidation proceedings or other
      proceedings or relief under any bankruptcy law or any law, or the issuance
      of
      any notice in relation to such event, for the relief of debtors shall be
      instituted by or against the Borrower and if instituted against Borrower are
      not
      dismissed within 45 days of initiation.

    

    2.7 Listing
      Default.
      The
      occurrence of a Listing Default (as defined in Section 4.12(c) of the Purchase
      Agreement).

    

    2.8 Cross
      Default.
      A
      default by the Borrower of a material term, covenant, warranty or undertaking
      of
      any other agreement to which the Borrower and Holder are parties, or the
      occurrence of a material event of default under any such other agreement which
      is not cured after any required notice and/or cure period.

    

    ARTICLE
      III

    

    SECURITY
      INTEREST

    

    3.1 Security
      Interest/Waiver of Automatic Stay. This
      Debenture is secured by a security interest granted to the Collateral Agent
      for
      the benefit of the Holder pursuant to a Security Agreement, as delivered by
      Borrower to Holder. The Borrower acknowledges and agrees that should a
      proceeding under any bankruptcy or insolvency law be commenced by or against
      the
      Borrower, or if any of the Collateral (as defined in the Security Agreement)
      should become the subject of any bankruptcy or insolvency proceeding, then
      the
      Holder should be entitled to, among other relief to which the Holder may be
      entitled under the Transaction Documents and any other agreement to which the
      Borrower and Holder are parties (collectively, “Loan Documents”) and/or
      applicable law, an order from the court granting immediate relief from the
      automatic stay pursuant to 11 U.S.C. Section 362 to permit the Holder to
      exercise all of its rights and remedies pursuant to the Loan Documents and/or
      applicable law. THE BORROWER EXPRESSLY WAIVES THE BENEFIT OF THE AUTOMATIC
      STAY
      IMPOSED BY 11 U.S.C. SECTION 362. FURTHERMORE, THE BORROWER EXPRESSLY
      ACKNOWLEDGES AND AGREES THAT NEITHER 11 U.S.C. SECTION 362 NOR ANY OTHER SECTION
      OF THE BANKRUPTCY CODE OR OTHER STATUTE OR RULE (INCLUDING, WITHOUT LIMITATION,
      11 U.S.C. SECTION 105) SHALL STAY, INTERDICT, CONDITION, REDUCE OR INHIBIT
      IN
      ANY WAY THE ABILITY OF THE HOLDER TO ENFORCE ANY OF ITS RIGHTS AND REMEDIES
      UNDER THE LOAN DOCUMENTS AND/OR APPLICABLE LAW. The Borrower hereby consents
      to
      any motion for relief from stay that may be filed by the Holder in any
      bankruptcy or insolvency proceeding initiated by or against the Borrower and,
      further, agrees not to file any opposition to any motion for relief from stay
      filed by the Holder. The Borrower represents, acknowledges and agrees that
      this
      provision is a specific and material aspect of the Loan Documents, and that
      the
      Holder would not agree to the terms of the Loan Documents if this waiver were
      not a part of this Debenture. The Borrower further represents, acknowledges
      and
      agrees that this waiver is knowingly, intelligently and voluntarily made, that
      neither the Holder nor any person acting on behalf of the Holder has made any
      representations to induce this waiver, that the Borrower has been represented
      (or has had the opportunity to he represented) in the signing of this Debenture
      and the Loan Documents and in the making of this waiver by independent legal
      counsel selected by the Borrower and that the Borrower has discussed this waiver
      with counsel.

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      IV

    

    MISCELLANEOUS

    

    4.1 Failure
      or Indulgence Not Waiver.
      No
      failure or delay on the part of Holder hereof in the exercise of any power,
      right or privilege hereunder shall operate as a waiver thereof, nor shall any
      single or partial exercise of any such power, right or privilege preclude other
      or further exercise thereof or of any other right, power or privilege. All
      rights and remedies existing hereunder are cumulative to, and not exclusive
      of,
      any rights or remedies otherwise available.

    

    4.2 Notices.
      All
      notices, demands, requests, consents, approvals, and other communications
      required or permitted hereunder shall be in writing and, unless otherwise
      specified herein, shall be (i) personally served, (ii) deposited in the mail,
      registered or certified, return receipt requested, postage prepaid, (iii)
      delivered by reputable air courier service with charges prepaid, or (iv)
      transmitted by hand delivery, telegram, or facsimile, addressed as set forth
      below or to such other address as such party shall have specified most recently
      by written notice. Any notice or other communication required or permitted
      to be
      given hereunder shall be deemed effective (a) upon hand delivery or delivery
      by
      facsimile, with accurate confirmation generated by the transmitting facsimile
      machine, at the address or number designated below (if delivered on a business
      day during normal business hours where such notice is to be received), or the
      first business day following such delivery (if delivered other than on a
      business day during normal business hours where such notice is to be received)
      or (b) on the second business day following the date of mailing by express
      courier service, fully prepaid, addressed to such address, or upon actual
      receipt of such mailing, whichever shall first occur. The addresses for such
      communications shall be: (i) if to the Borrower to: USTelematics, Inc., 335
      Richert Drive, Wood Dale, IL 60191, Attn: Howard Leventhal, CEO & President,
      telecopier: (312) 896-9235, with a copy by telecopier only to: Alan W. Peryam,
      LLC, 1120 Lincoln Street, Suite 1000, Denver, CO 80203, telecopier: (303)
      866-0999, and (ii) if to the Holder, to the name, address and telecopy number
      set forth on the Signature Page of the Purchase Agreement

    

    4.3 Amendment
      Provision.
      The
      term “Debenture” and all reference thereto, as used throughout this instrument,
      shall mean this instrument as originally executed, or if later amended or
      supplemented, then as so amended or supplemented.

    

    4.4 Assignability.
      This
      Debenture shall be binding upon the Borrower and its successors and assigns,
      and
      shall inure to the benefit of the Holder and its successors and
      assigns.

    

    4.5
       Cost
      of Collection.
      If
      default is made in the payment of this Debenture, Borrower shall pay the Holder
      hereof reasonable costs of collection, including reasonable attorneys’
fees.

    

    4.6 Governing
      Law.
      This
      Debenture shall be governed by and construed in accordance with the laws of
      the
      State of New York. Any action brought by either party against the other
      concerning the transactions contemplated by this Agreement shall be brought
      only
      in the state courts of New York or in the federal courts located in the state
      of
      New York. Both parties and the individual signing this Agreement on behalf
      of
      the Borrower agree to submit to the jurisdiction of such courts. The prevailing
      party shall be entitled to recover from the other party its reasonable
      attorney’s fees and costs.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    

    4.7 Maximum
      Payments.
      Nothing
      contained herein shall be deemed to establish or require the payment of a rate
      of interest or other charges in excess of the maximum permitted by applicable
      law. In the event that the rate of interest required to be paid or other charges
      hereunder exceed the maximum permitted by such law, any payments in excess
      of
      such maximum shall be credited against amounts owed by the Borrower to the
      Holder and thus refunded to the Borrower.

    

    4.8
       Redemption.
      This
      Debenture may not be redeemed or called without the consent of the
      Holder.

    

    IN
      WITNESS WHEREOF,
      Borrower has caused this Debenture to be signed in its name by an authorized
      officer as of the ____ day of December 2006.

    
      	 	 	 
	 	USTELEMATICS,
              INC.
	 
 	 
 	 
 
	 	By:  	 
	 	
              
Howard
              Leventhal, CEO &
President

    

     

    WITNESS:

     

     

    
      
        

      

    

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    ELECTION
      TO CONVERT

    

    (To
      be
      executed by the Holder in order to convert the Debenture)

    

    The
      undersigned hereby elects to convert $_________ of the principal and $_________
      of the interest due on the Debenture issued by USTelematics,
      Inc.
      on
      ________ __, 2006 into Common Shares of USTelematics,
      Inc
      (the
      "Borrower") according to the conditions set forth in such Debenture, as of
      the
      date written below.

    

    Date
      of
      Conversion:
      ___________________________________________________________________________________

    

    Conversion
      Price:
      _____________________________________________________________________________________

    

    Number
      of
      Shares To Be Delivered:
      _______________________________________________________________________

    

    Signature:
      ___________________________________________________________________________________________

    

    Print
      Name:
      __________________________________________________________________________________________

    

    Address
      share are to be sent to:
      __________________________________________________________________________

    

    ___________________________________________________________________________________________________

    

    The
      undersigned Holder of Debenture No. ___________, in the Principal Amount of
      $______________________, hereby elects to convert $___________ in principal
      amount of the Debenture and all accrued unpaid interest due thereon as of the
      date of election into Common Stock of the Company at the applicable Conversion
      Price.

    

    Dated:
      ________________________________________

    

    ______________________________________________

    Registered
      Name of Debenture Holder

    

    

    By
      ____________________________________________

        
      Authorized Representative

    

    Signature
      Guaranteed by:

    

    

    _____________________________________________

     

    
      
        
        

      

      
        7Exhibit
      4.2

     

    THE
      SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT, AND THE SECURITIES INTO
      WHICH THESE SECURITIES ARE CONVERTIBLE OR EXERCISABLE WILL NOT BE, REGISTERED
      WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF
      ANY
      STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
      ACT
      OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED
      OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
      SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION
      NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
      ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION
      OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE
      REASONABLY ACCEPTABLE TO THE COMPANY. THESE SECURITIES AND THE SECURITIES
      ISSUABLE UPON CONVERSION OR EXERCISE OF THESE SECURITIES MAY NOT BE PLEDGED
      IN
      CONNECTION WITH A BONA FIDE
      MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

    

    Series
      A

    COMMON
      STOCK PURCHASE WARRANT 

    

    To
      Purchase Shares of $0.0001 Par Value Common Stock ("Common Stock")
      of

    

    No.
      [WA-__] [      
      ] Shares

     

    USTELEMATICS,
      INC.

    

    THIS
      CERTIFIES that, for value received, the holder identified below (the 
“Holder”)
      is
      entitled, upon the terms and subject to the conditions hereinafter set forth,
      at
      any time on or after the date hereof and on or prior to 5:00 p.m. New York
      City
      Time on the termination date shown below (the “Termination
      Date”),
      but
      not thereafter, to subscribe for and purchase from USTelematics, Inc., a
      Delaware corporation (the “Company”),
      the
      number of shares of Common Stock shown below (the “Warrant Shares”)
      at the
      Exercise Price stated below equal to (as adjusted from time to time pursuant
      to
      the terms hereof, the “Exercise Price”).
      The
      Exercise Price and the number of shares for which the Warrant is exercisable
      shall be subject to adjustment as provided herein. This Warrant is being issued
      in connection with the issuance of the Company’s 9% Secured Convertible
      Debentures due December __, 2008 (the “Debentures”)
      pursuant to a Securities Purchase Agreement dated as of December 6, 2006, 2006
      (the “Securities Purchase Agreement”), entered into between the Company and the
      Holder. Capitalized terms used herein and not otherwise defined shall have
      the
      meaning ascribed thereto in the Securities Purchase Agreement.

     

    Holder:
      ________________________________________________________________

     

    Termination
      Date:
      ___________________________2011

     

    Number
      of Warrant Shares:
      ___________________Shares

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Exercise
      Price:
      $____
      per share

     

    
      	
              1.

            	
              Title
                of Warrant. Prior
                to the expiration hereof and subject to compliance with applicable
                laws,
                this Warrant and all rights hereunder are transferable, in whole
                or in
                part, at the office or agency of the Company by the Holder hereof
                in
                person or by duly authorized attorney, upon surrender of this Warrant
                together with (a) the Assignment Form annexed hereto properly endorsed,
                and (b) any other documentation reasonably necessary to satisfy the
                Company that such transfer is in compliance with all applicable securities
                laws. The term “Holder”
                shall also refer to or any subsequent transferee of this
                Warrant.

            

    

     

    
      	
              2.
                

            	
              Authorization
                of Shares. The
                Company covenants that all shares of Common Stock which may be issued
                upon
                the exercise of rights represented by this Warrant will, upon exercise
                of
                the rights represented by this Warrant and payment of the Exercise
                Price
                as set forth herein, be duly authorized, validly issued, fully paid
                and
                nonassessable and free from all taxes, liens and charges in respect
                of the
                issue thereof (other than taxes in respect of any transfer occurring
                contemporaneously with such issue or otherwise specified
                herein).

            

    

     

    
      	3.	
              Exercise
                of Warrant.

            

    

     

    
      	
              (a)
                

            	
              The
                Holder may exercise this Warrant, in whole or in part, at any time
                and
                from time to time, by delivering (which may be by facsimile) to the
                offices of the Company or any transfer agent for the Common Stock
                this
                Warrant, together with a Notice of Exercise in the form annexed hereto
                specifying the number of Warrant Shares with respect to which this
                Warrant
                is being exercised, together with payment in cash to the Company
                of the
                Exercise Price therefor. 

            

    

     

    
      	 	
              In
                the event that the Warrant is not exercised in full, the number of
                Warrant
                Shares shall be reduced by the number of such Warrant Shares for
                which
                this Warrant is exercised and/or surrendered, and the Company, if
                requested by Holder and at its expense, shall within three (3) Trading
                Days (as defined below) issue and deliver to the Holder a new Warrant
                of
                like tenor in the name of the Holder or as the Holder (upon payment
                by
                Holder of any applicable transfer taxes) may request, reflecting
                such
                adjusted Warrant Shares. Notwithstanding anything to the contrary
                set
                forth herein, upon exercise of any portion of this Warrant in accordance
                with the terms hereof, the Holder shall not be required to physically
                surrender this Warrant to the Company unless such Holder is purchasing
                the
                full amount of Warrant Shares represented by this Warrant. The Holder
                and
                the Company shall maintain records showing the number of Warrant
                Shares so
                purchased hereunder and the dates of such purchases or shall use
                such
                other method, reasonably satisfactory to the Holder and the Company,
                so as
                not to require physical surrender of this Warrant upon each such
                exercise.
                The Holder and any assignee, by acceptance of this Warrant or a new
                Warrant, acknowledge and agree that, by reason of the provisions
                of this
                Section, following exercise of any portion of this Warrant, the number
                of
                Warrant Shares which may be purchased upon exercise of this Warrant
                may be
                less than the number of Warrant Shares set forth on the face
                hereof.

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    
      	
               

            	
              Certificates
                for shares of Common Stock purchased hereunder shall be delivered
                to the
                Holder hereof within three (3) Trading Days after the date on which
                this
                Warrant shall have been exercised as aforesaid. The Holder may withdraw
                its Notice of Exercise at any time if the Company fails to timely
                deliver
                the relevant certificates to the Holder as provided in this Agreement.
                A
                Notice of Exercise shall be deemed sent on the date of delivery if
                delivered before 5:00 p.m. New York Time on such date, or the day
                following such date if delivered after 5:00 p.m. New York Time; provided
                that the Company is only obligated to deliver Warrant Shares against
                delivery of the Exercise Price from the holder hereof and surrender
                of
                this Warrant (or appropriate affidavit and/or indemnity in lieu
                thereof).

            

    

    

    
      	 	
              In
                lieu of delivering physical certificates representing the Warrant
                Shares
                issuable upon conversion of this Warrant, provided the Company’s transfer
                agent is participating in the Depository Trust Company (“DTC”)
                Fast Automated Securities Transfer (“FAST”)
                program, upon request of the Holder, the Company shall use its best
                efforts to cause its transfer agent to electronically transmit the
                Warrant
                Shares issuable upon exercise to the Holder, by crediting the account
                of
                the Holder's prime broker with DTC through its Deposit Withdrawal
                At
                Custodian (“DWAC”)
                system. The time periods for delivery described above shall apply
                to the
                electronic transmittals through the DWAC system. The Company agrees
                to
                coordinate with DTC to accomplish this objective.
                

            

    

     

    
      	
              (b)

            	
              The
                term “Trading
                Day”
                means (x) if the Common Stock is not listed on the New York or American
                Stock Exchange but sale prices of the Common Stock are reported on
                Nasdaq
                National Market or another automated quotation system, a day on which
                trading is reported on the principal automated quotation system on
                which
                sales of the Common Stock are reported, (y) if the Common Stock is
                listed
                on the New York Stock Exchange or the American Stock Exchange, a
                day on
                which there is trading on such stock exchange, or (z) if the foregoing
                provisions are inapplicable, a day on which quotations are reported
                by
                National Quotation Bureau
                Incorporated.

            

    

     

    
      	
              (c)
                

            	
              Cashless
                Exercise.

            

    

     

    (i) If
      a
      Registration Statement (as defined in the Registration Rights Agreement)
      (“Registration Statement”) is effective and the Holder may sell its shares of
      Common Stock upon exercise hereof pursuant to the Registration Statement, this
      Warrant may be exercisable in whole or in part for cash only as set forth in
      Section 3 (a) and (b) above. If no such Registration Statement is available,
      payment upon exercise may be made at the option of the Holder either in cash,
      wire transfer or by certified or official bank check payable to the order of
      the
      Company equal to the applicable aggregate Purchase Price or (x) by cashless
      exercise in accordance with Section (ii) below, or (y) by a
      combination of any of the foregoing methods, for the number of shares of Common
      Stock specified in such form (as such exercise number shall be adjusted to
      reflect any adjustment in the total number of shares of Common Stock issuable
      to
      the Holder per the terms of this Warrant) and the Holder shall thereupon be
      entitled to receive the number of duly authorized, validly issued, fully-paid
      and non-assessable shares of Common Stock (or Other Securities) determined
      as
      provided herein.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

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

     

     X=Y
      (A-B)

      
      A

    

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

    

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

     

    A= the
      average of the closing bid prices of the Common Stock for the five (5) Trading
      Days immediately prior to (but not including) the Exercise Date

     

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

     

    
      	 	
              For
                purposes of Rule 144 promulgated under the 1933 Act, it is intended,
                understood and acknowledged that the Warrant Shares issued in a cashless
                exercise transaction shall be deemed to have been acquired by the
                Holder,
                and the holding period for the Warrant Shares shall be deemed to
                have
                commenced, on the date this Warrant was originally issued.

            

    

     

    
      	
              4.
                

            	
              No
                Fractional Shares or Scrip.
                No fractional shares or scrip representing fractional shares shall
                be
                issued upon the exercise of this Warrant. In lieu of issuance of
                a
                fractional share upon any exercise hereunder, the Company will either
                round up to nearest whole number of shares or pay the cash value
                of that
                fractional share, which cash value shall be calculated on the basis
                of the
                average closing price of the Common Stock during the five (5) Trading
                Days
                immediately preceding the date of
                exercise.

            

    

     

    
      	
              5.
                

            	
              Charges,
                Taxes and Expenses.
                Issuance of certificates for shares of Common Stock upon the exercise
                of
                this Warrant shall be made without charge to the Holder hereof for
                any
                issue or transfer tax or other incidental expense in respect of the
                issuance of such certificate, all of which taxes and expenses shall
                be
                paid by the Company, and such certificates shall be issued in the
                name of
                the Holder of this Warrant or in such name or names as may be directed
                by
                the Holder of this Warrant; provided,
                however,
                that in the event certificates for shares of Common Stock are to
                be issued
                in a name other than the name of the Holder of this Warrant, this
                Warrant
                when surrendered for exercise shall be accompanied by the Assignment
                Form
                attached hereto duly executed by the Holder hereof; and provided further,
                that the Company shall not be required to pay any tax or taxes which
                may
                be payable in respect of any transfer involved in the issuance of
                any
                Warrant Certificates or any certificates for the Warrant Shares other
                than
                the issuance of a Warrant Certificate to the Holder in connection
                with the
                Holder’s surrender of a Warrant Certificate upon the exercise of all or
                less than all of the Warrants evidenced thereby.
                

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	
              6.
                

            	
              Closing
                of Books.
                The Company will at no time close its shareholder books or records
                in any
                manner which interferes with the timely exercise of this
                Warrant.

            

    

     

    
      	
              7.
                

            	
              No
                Rights as Shareholder until Exercise.
                Subject to Section 12 of this Warrant and the provisions of any other
                written agreement between the Company and the Holder, the Holder
                shall not
                be entitled to vote or receive dividends or be deemed the holder
                of
                Warrant Shares or any other securities of the Company that may at
                any time
                be issuable on the exercise hereof for any purpose, nor shall anything
                contained herein be construed to confer upon the Holder, as such,
                any of
                the rights of a stockholder of the Company or any right to vote for
                the
                election of directors or upon any matter submitted to stockholders
                at any
                meeting thereof, or to give or withhold consent to any corporate
                action
                (whether upon any recapitalization, issuance of stock, reclassification
                of
                stock, change of par value, or change of stock to no par value,
                consolidation, merger, conveyance or otherwise) or to receive notice
                of
                meetings, or to receive dividends or subscription rights or otherwise
                until the Warrant shall have been exercised as provided herein. However,
                at the time of the exercise of this Warrant pursuant to Section 3
                hereof,
                the Warrant Shares so purchased hereunder shall be deemed to be issued
                to
                such Holder as the record owner of such shares as of the close of
                business
                on the date on which this Warrant shall have been
                exercised.

            

    

     

    
      	
              8.
                

            	
              Assignment
                and Transfer of Warrant.
                This Warrant may be assigned by the surrender of this Warrant and
                the
                Assignment Form annexed hereto duly executed at the office of the
                Company
                (or such other office or agency of the Company or its transfer agent
                as
                the Company may designate by notice in writing to the registered
                Holder
                hereof at the address of such Holder appearing on the books of the
                Company); provided,
                however,
                that this Warrant and the Warrant Shares may not be resold or otherwise
                transferred except (i) in a transaction registered under the Securities
                Act of 1933, as amended (the "Act"), or (ii) in a transaction pursuant
                to
                an exemption, if available, from registration under the Act and whereby,
                if reasonably requested by the Company, an opinion of counsel reasonably
                satisfactory to the Company is obtained by the Holder of this Warrant
                to
                the effect that the transaction is so exempt.

            

    

     

    
      	
              9.
                

            	
              Loss,
                Theft, Destruction or Mutilation of Warrant; Exchange.
                The Company represents, warrants and covenants that (a) upon receipt
                by
                the Company of evidence and/or indemnity reasonably satisfactory
                to it of
                the loss, theft, destruction or mutilation of any Warrant Certificate
                or
                stock certificate representing the Warrant Shares, and in case of
                loss,
                theft or destruction, of indemnity reasonably satisfactory to it,
                and (b)
                upon surrender and cancellation of such Warrant or stock certificate,
                if
                mutilated, the Company will make and deliver a new Warrant or stock
                certificate of like tenor and dated as of such cancellation, in lieu
                of
                this Warrant or stock certificate, without any charge therefor. This
                Warrant is exchangeable at any time for an equal aggregate number
                of
                Warrants of different denominations, as requested by the holder
                surrendering the same, or in such denominations as may be requested
                by the
                Holder following determination of the Exercise Price. No service
                charge
                will be made for such registration or transfer, exchange or
                reissuance.

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      	
              10.
                

            	
              Saturdays,
                Sundays, Holidays, etc.
                If the last or appointed day for the taking of any action or the
                expiration of any right required or granted herein shall be a Saturday,
                Sunday or a legal holiday, then such action may be taken or such
                right may
                be exercised on the next succeeding day not a legal
                holiday.

            

    

     

    
      	
              11.
                

            	
              Adjustments
                of Exercise Price and Number of Warrant Shares.
                

            

    

     

    
      	 	
              The
                number of and kind of securities purchasable upon exercise of this
                Warrant
                and the Exercise Price shall be subject to adjustment from time to
                time as
                set forth in this Section 11.

            

    

     

    
      	
              (a)
                

            	
              Share
                Issuance.
                Until the Termination Date, if the Company shall issue any Common
                Stock
                that is not an Exempt Issuances (as defined in the Securities Purchase
                Agreement), prior to the complete exercise of this Warrant for a
                consideration (a “Purchase Price”) less than the Exercise Price that would
                be in effect at the time of such issue, then, and thereafter successively
                upon each such issue, the Exercise Price shall be reduced to such
                other
                lower Purchase Price.  For purposes of this adjustment, the issuance
                of any security or debt instrument of the Company carrying the right
                to
                convert such security or debt instrument into Common Stock or of
                any
                warrant, right or option to purchase Common Stock shall result in
                an
                adjustment to the Exercise Price upon the issuance of the above-described
                security, debt instrument, warrant, right, or option if such issuance
                is
                at a price lower than the Exercise Price in effect upon such
                issuance.  The reduction of the Exercise Price described in this
                Section 11(a) is subject to the provisions of, and in addition to
                the
                other rights of the Holder described in, the Securities Purchase
                Agreement.

            

    

     

    
      	
              (b)
                

            	
              Adjustments
                for Subdivisions or Combinations of Common Stock.
                In the event the outstanding shares of Common Stock shall be subdivided
                (by stock split, by payment of a stock dividend or otherwise), into
                a
                greater number of shares of Common Stock, the applicable Conversion
                Price
                in effect immediately prior to such subdivision shall, concurrently
                with
                the effectiveness of such subdivision, be proportionately decreased.
                In
                the event the outstanding shares of Common Stock shall be combined
                (by
                reclassification or otherwise) into a lesser number of shares of
                Common
                Stock, the Exercise Price in effect immediately prior to such combination
                shall, concurrently with the effectiveness of such combination, be
                proportionately increased.

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      	
              (c)
                

            	
              No
                Impairment.
                The Company will not through any reorganization, transfer of assets,
                merger, dissolution, issue or sale of securities or any other voluntary
                action, avoid or seek to avoid the observance or performance of any
                of the
                terms to be observed or performed hereunder by the Company but will
                at all
                times in good faith assist in the carrying out of all the provisions
                of
                this Section 11 and in the taking of all such action as may be necessary
                or appropriate in order to protect the rights of the Holder hereof
                against
                impairment.

            

    

     

    
      	
              (d)

            	
              Corresponding
                Adjustment in Number of Warrant Shares.
                In the event of any adjustment in the number of Warrant Shares issuable
                hereunder upon exercise, the Exercise Price shall be inversely
                proportionately increased or decreased as the case may be, such that
                aggregate purchase price for Warrant Shares upon full exercise of
                this
                Warrant shall remain the same. Similarly, in the event of any adjustment
                in the Exercise Price, the number of Warrant Shares issuable hereunder
                upon exercise shall be inversely proportionately increased or decreased
                as
                the case may be, such that aggregate purchase price for Warrant Shares
                upon full exercise of this Warrant shall remain the same.
                

            

    

     

    
      	
              12.
                

            	
              Voluntary
                Adjustment by the Company.
                The Company may at its option, at any time during the term of this
                Warrant, reduce but not increase the then current Exercise Price
                to any
                amount and for any period of time deemed appropriate by the Board
                of
                Directors of the Company.

            

    

     

    
      	
              13.
                

            	
              Notice
                of Adjustment.
                Whenever the number of Warrant Shares or number or kind of securities
                or
                other property purchasable upon the exercise of this Warrant or the
                Exercise Price is adjusted, the Company shall promptly mail to the
                Holder
                of this Warrant a notice setting forth the number of Warrant Shares
                (and
                other securities or property) purchasable upon the exercise of this
                Warrant and the Exercise Price of such Warrant Shares after such
                adjustment and setting forth the computation of such adjustment and
                a
                brief statement of the facts requiring such adjustment.
                

            

    

     

    
      	
              14.
                

            	
              Authorized
                Shares.
                The Company covenants that during the period the Warrant is outstanding
                and exercisable, it will reserve from its authorized and unissued
                Common
                Stock a sufficient number of shares to provide for the issuance of
                the
                Warrant Shares upon the exercise of any and all purchase rights under
                this
                Warrant. The Company further covenants that its issuance of this Warrant
                shall constitute full authority to its officers who are charged with
                the
                duty of executing stock certificates to execute and issue the necessary
                certificates for the Warrant Shares upon the exercise of the purchase
                rights under this Warrant. The Company will take all such reasonable
                action as may be necessary to assure that such Warrant Shares may
                be
                issued as provided herein without violation of any applicable law,
                regulation, or rule of any applicable market or
                exchange.

            

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    
      	
              15.

            	
              Compliance
                with Securities Laws.
                (a) The Holder hereof acknowledges that the Warrant Shares acquired
                upon
                the exercise of this Warrant, if not registered (or if no exemption
                from
                registration exists), will have restrictions upon resale imposed
                by state
                and federal securities laws. Each certificate representing the Warrant
                Shares issued to the Holder upon exercise (if not registered, for
                resale
                or otherwise, or if no exemption from registration exists) will bear
                substantially the following legend:

            

    

     

    THE
      SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT, AND THE SECURITIES INTO
      WHICH THESE SECURITIES ARE CONVERTIBLE OR EXERCISABLE WILL NOT BE, REGISTERED
      WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF
      ANY
      STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
      ACT
      OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED
      OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
      SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION
      NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
      ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION
      OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE
      REASONABLY ACCEPTABLE TO THE COMPANY. THESE SECURITIES AND THE SECURITIES
      ISSUABLE UPON CONVERSION OR EXERCISE OF THESE SECURITIES MAY NOT BE PLEDGED
      IN
      CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH
      SECURITIES.

    

    
      	
              (b
                ) 

            	
              Without
                limiting the Holder’s right to transfer, assign or otherwise convey the
                Warrant or Warrant Shares in compliance with all applicable securities
                laws, the Holder of this Warrant, by acceptance hereof, acknowledges
                that
                this Warrant and the Warrant Shares to be issued upon exercise hereof
                are
                being acquired solely for the Holder's own account and not as a nominee
                for any other party, and that the Holder will not offer, sell or
                otherwise
                dispose of this Warrant or any Warrant Shares to be issued upon exercise
                hereof except under circumstances that will not result in a violation
                of
                applicable federal and state securities laws.

            

    

     

    
      	16.	
              Miscellaneous.

            

    

     

    
      	
              (a)
                

            	
              Issue
                Date; Choice of Law; Venue; Jurisdiction.
                The provisions of this Warrant shall be construed and shall be given
                effect in all respects as if it had been issued and delivered by
                the
                Company on the date hereof. This Warrant shall be binding upon any
                successors or assigns of the Company. This Warrant will be construed
                and
                enforced in accordance with and governed by the laws of the State
                of New
                York, except for matters arising under the Act, without reference
                to
                principles of conflicts of law. Each of the parties consents to the
                exclusive jurisdiction of the Federal and State Courts sitting in
                the
                County of New York in the State of New York in connection with any
                dispute
                arising under this Warrant and hereby waives, to the maximum extent
                permitted by law, any objection, including any objection based on
                forum non conveniens or
                venue, to the bringing of any such proceeding in such jurisdiction.
                EACH
                PARTY HERETO WAIVES THE RIGHT TO A TRIAL BY JURY.
                

            

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    
      	
              (b)
                

            	
              Modification
                and Waiver.
                This Warrant and any provisions hereof may be changed, waived, discharged
                or terminated only by an instrument in writing signed by the party
                against
                which enforcement of the same is sought. Notwithstanding the foregoing,
                the Holders of at least 85% of the outstanding Warrants of this series
                may
                written instrument delivered to the Company (which instrument may
                be in
                counterparts) change or waive compliance with any provision hereof,
                which
                change or waiver shall be binding upon all Holders of outstanding
                Warrants
                of this series even if not party to such written instrument. Any
                amendment
                effected in accordance with this paragraph shall be binding upon
                the
                Holder, each future holder of this Warrant and the Company. No waivers
                of,
                or exceptions to, any term, condition or provision of this Warrant,
                in any
                one or more instances, shall be deemed to be, or construed as, a
                further
                or continuing waiver of any such term, condition or
                provision.

            

    

     

    
      	
              (c)
                

            	
              Notices.
                Any notice or other communication required or permitted to be given
                hereunder shall be in writing by facsimile, mail or personal delivery
                and
                shall be effective upon actual receipt of such notice. The addresses
                for
                such communications shall be to the addresses as shown on the books
                of the
                Company or to the Company at the address set forth in the Purchase
                Agreement. A party may from time to time change the address to which
                notices to it are to be delivered or mailed hereunder by notice in
                accordance with the provisions of this Section 16(c).
                

            

    

     

    
      	
              (d)
                

            	
              Severability.
                Whenever possible, each provision of this Warrant shall be interpreted
                in
                such manner as to be effective and valid under applicable law, but
                if any
                provision of this Warrant is held to be invalid, illegal or unenforceable
                in any respect under any applicable law or rule in any jurisdiction,
                such
                invalidity, illegality or unenforceability shall not affect the validity,
                legality or enforceability of any other provision of this Warrant
                in such
                jurisdiction or affect the validity, legality or enforceability of
                any
                provision in any other jurisdiction, but this Warrant shall be reformed,
                construed and enforced in such jurisdiction as if such invalid, illegal
                or
                unenforceable provision had never been contained
                herein.

            

    

     

    
      	
              (e)

            	
              Specific
                Enforcement.
                The Company and the Holder acknowledge and agree that irreparable
                damage
                would occur in the event that any of the provisions of this Warrant
                were
                not performed in accordance with their specific terms or were otherwise
                breached. It is accordingly agreed that the parties shall be entitled
                to
                an injunction or injunctions to prevent or cure breaches of the provisions
                of this Warrant and to enforce specifically the terms and provisions
                hereof, this being in addition to any other remedy to which either
                of them
                may be entitled by law or equity.

            

    

    

    [Signature
      Page Follows]

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    

    IN
      WITNESS WHEREOF, the Company has caused this Warrant to be executed by its
      officers thereunto duly authorized.

     

    Dated:
      December 7, 2006

    

    USTELEMATICS,
      INC. 

    

    By:
      

    
      
        

      

    

    Name:
      Howard E. Leventhal

    Title:
      Chief Executive Officer, President

     

    ATTEST:

    

    

    
      

    

    Print
      Name:

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    Exhibit A

    FORM
      OF
      SUBSCRIPTION

    (to
      be
      signed only on exercise of Warrant)

     

    TO:
      US
      Telematics, Inc. 

     

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

    

    ___   
      ________
      shares of the Common Stock covered by such Warrant; or

     

    ___   
      the
      maximum number of shares of Common Stock covered by such Warrant pursuant to
      the
      cashless exercise procedure set forth in Section 2.

    

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

     

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

     

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

    

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

    ____________________________________________________________________________________________________________________________________________

    __________________________________________________________________________

     

    The
      undersigned represents and warrants that the representations and warranties
      in
      Section 4 of the Subscription Agreement (as defined in this Warrant) are true
      and accurate with respect to the undersigned on the date hereof.

    

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

    

    
      	
              Dated:
                ___________________

            	
              
                

              

              (Signature
                must conform to name of holder as 

              specified
                on the face of the Warrant)

               

               

              
                

              

               

              
                

              

              
              

              (Address)

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    ASSIGNMENT
      FORM

    

    (To
      assign the foregoing warrant, execute

    this
      form
      and supply required information.

    Do
      not
      use this form to exercise the warrant.)

     

       FOR
      VALUE
      RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby
      assigned to

    

    ______________________________________________________________
      whose address is

    _______________________________________________________________________________.

     

    ______________________________________________________________________________

    

    Dated:
      ______________, 

     

    Holder's
      Signature: _____________________________

    

    Holder's
      Address: _____________________________

     

     _____________________________

     

    Signature
      Guaranteed: ___________________________________________

     

    NOTE:
      The
      signature to this Assignment Form must correspond with the name as it appears
      on
      the face of the Warrant, without alteration or enlargement or any change
      whatsoever, and must be guaranteed by a bank or trust company. Officers of
      corporations and those acting in a fiduciary or other representative capacity
      should file proper evidence of authority to assign the foregoing
      Warrant.

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