Document:

WARRANT TO PURCHASE SHARES OF
                    COMMON STOCK OF SCHICK TECHNOLOGIES, INC.

                                                                  March 15, 2000
                                                      Long Island City, New York

     THIS WARRANT AND THE SHARES OF COMMON STOCK  ISSUABLE UPON EXERCISE OF THIS
WARRANT HAVE NOT BEEN  REGISTERED  UNDER THE  SECURITIES ACT OF 1933, AS AMENDED
(THE  "SECURITIES  ACT") AND SUCH SECURITIES MAY NOT BE SOLD,  OFFERED FOR SALE,
PLEDGED OR  HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE  REGISTRATION  STATEMENT
UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE
COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

                       VOID AFTER 5:00 P.M., NEW YORK TIME
                              ON DECEMBER 27, 2006

     THIS  CERTIFIES  THAT for  value  received,  DVI  FINANCIAL  SERVICES  INC.
("DVI"),  or its registered  permitted assigns  (together with DVI,  hereinafter
collectively  referred to as the  "Holder"),  may  subscribe  for and  purchase,
subject to the terms and conditions hereof,  from SCHICK  TECHNOLOGIES,  INC., a
Delaware  corporation  (the  "Company"),  six hundred fifty  thousand  (650,000)
shares of Common  Stock of the  Company,  par value $0.01 per share (the "Common
Stock"),  at any time until 5:00 p.m.  New York Time,  on December 27, 2006 (the
"Expiration  Date"),  at an exercise price which shall be equal to  seventy-five
($0.75) cents per share of Common Stock (the  "Exercise  Price").  The number of
shares of Common Stock  issuable  upon  exercise of this  Warrant,  the Exercise
Price, and the kind of securities issuable upon exercise of this Warrant,  shall
be subject to adjustment from time to time upon the occurrence of certain events
as set forth below.  The shares of Common Stock  issuable  upon exercise of this
Warrant,  as adjusted from time to time, is sometimes referred to hereinafter as
"Warrant Shares."

     1.  Exercise  Price and  Expiration.  (a) This  Warrant may be exercised in
whole or in part on any  Business Day (as such term is  hereinafter  defined) at
any time prior to the  Expiration  Date upon  surrender to the  Company,  at its
address  for  notices  set forth in Section 8 of this  Warrant (or at such other
office of the  Company,  if any,  or such  other  office of the  Company's  duly
authorized agent for such purpose,  as may be maintained by the Company for such
purpose and so designated  by the Company by written  notice to the Holder prior
to such  exercise),  together  with  the  following:  (i) a duly  completed  and
executed Notice of Warrant Exercise in the form annexed hereto, and (ii) payment
of the full  Exercise  Price for this Warrant or the portion  thereof then being
exercised.  This Warrant and all rights and options  hereunder  shall expire on,
and shall be  immediately  wholly null and void to the extent the Warrant is not
properly  exercised  prior to the  Expiration  Date. As used in this Warrant the
term  "Business  Day" shall mean the time period between 9:00 a.m. New York, New
York Time and 5:00 p.m.

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New York, New York Time on any day other than any Saturday, Sunday, or any other
day on  which  commercial  banks in New  York,  New  York  are  required  or are
authorized by law to close.

     (b) Such Exercise  Price shall be paid in lawful money of the United States
of America by bank cashier's check or by wire transfer of immediately  available
funds to such account as shall have been designated in writing by the Company to
the Holder from time to time.

     (c) Upon the Holder's  surrender of the Warrant and payment of the Exercise
Price,  the Company shall promptly issue and cause to be delivered to the Holder
a  certificate  or  certificates  for the total number of whole shares of Common
Stock for which this Warrant is then so exercised,  as the case may be (adjusted
to reflect the effect of the anti-dilution  provisions contained in Section 2 of
this Warrant, if any) in such denominations as are requested for delivery to the
Holder, and the Company shall thereupon deliver such certificates to the Holder.
The  Holder  shall be deemed to be the  Holder of record of the shares of Common
Stock issuable upon such exercise, notwithstanding that the stock transfer books
of the  Company  shall  then be closed or that  certificates  representing  such
shares of Common Stock shall not then be actually  delivered to the Holder.  If,
at the time this  Warrant  is  exercised,  a  registration  statement  under the
Securities Act is not then in effect to register  under said  Securities Act the
Warrant  Shares  issuable  upon  exercise  of this  Warrant  (together  with any
applicable  state  securities  law  registrations),  the Company may require the
Holder to make such representations,  and may place such legends on certificates
representing the Warrant Shares, as may be required in the opinion of counsel to
the Company to permit the Warrant Shares to be issued without such registration,
unless the Company  receives an opinion of counsel  reasonably  satisfactory  to
counsel to the Company to the effect that said  securities  may be freely traded
without registration under the Securities Act.

     (d) If the Holder shall exercise this Warrant with respect to less than all
of the Warrant  Shares that may then be  purchased  under this  Warrant,  having
taken into account any prior exercise of the Warrant, the Company shall promptly
execute and deliver to the Holder a new warrant in the form of this  Warrant for
the balance of such Warrant Shares.

     2.   Certain Anti-dilution Adjustments.

     (a)  If the  Company  shall  (i)  pay a  dividend  or  make a  distribution
generally to all or  substantially  all holder of shares of Company Common Stock
in the form of  additional  shares of Common Stock,  (ii)  subdivide or split or
reverse  split or  consolidate  the  outstanding  shares of Common  Stock into a
larger or smaller number of shares,  (iii) effect an increase or decrease in the
number of issued and outstanding  shares of Common Stock without  consideration,
or (iv) effect a recapitalization  which shall reclassify the outstanding shares
of Common  Stock into one or more  classes of Common  Stock,  then the number of
shares of Common Stock  issuable  upon exercise of this Warrant and the Exercise
Price shall be equitably and proportionately  adjusted immediately following the
occurrence of any such event,  and the Holder of record of this Warrant shall be
given notice of the same at such  Holder's  address in the  Company's  books and
records.  An adjustment  made  pursuant to this Section  shall become  effective
immediately  after the record date in the case of a dividend or distribution and
immediately  after  the  effective  date in the  case of a  subdivision,  split,
combination or
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reclassification;  provided,  if such record date shall have been fixed and such
dividend is not fully paid or if such distribution is not fully made on the date
fixed  therefor,  the exercise  price shall be recomputed  accordingly as of the
close of  business on such record date and  thereafter  such  exercise  price in
effect  shall be as adjusted  pursuant to this  Section as of the time of actual
payment of such dividend or distribution.

     (b) Whenever the number of Warrant Shares  purchasable upon the exercise of
this Warrant is adjusted,  as herein  provided,  the Exercise Price payable upon
exercise of this Warrant shall be adjusted by  multiplying  such Exercise  Price
immediately prior to such adjustment by a fraction, of which the numerator shall
be the number of Warrant  Shares  purchasable  upon the exercise of this Warrant
immediately prior to such adjustment,  and of which the denominator shall be the
number of Warrant Shares purchasable immediately thereafter.

     (c) No adjustment  in the number of Warrant  Shares  purchasable  hereunder
shall be required unless such adjustment would result in an increase or decrease
of at  least  one  percent  (1%)  of  the  Exercise  Price;  provided  that  any
adjustments  which by reason of this  paragraph  (c) are not required to be made
shall be carried  forward and taken into account in any  subsequent  adjustment.
All  calculations  shall  be  made  to  the  nearest  cent  or  to  the  nearest
one-thousandth of a share, as the case may be.

     (d) No  adjustment  in the number of Warrant  Shares  purchasable  upon the
exercise of this Warrant need be made under  paragraph (b) or (c) if the Company
issues or distributes to the holder of this Warrant the shares, rights, options,
warrants or convertible or exchangeable securities, or evidences of indebtedness
or assets referred to in those paragraphs which the holder of this Warrant would
have been  entitled  to receive had this  Warrant  been  exercised  prior to the
happening  of such event or the record date with  respect  thereto.  In no event
shall  the  Company  be  required  or  obligated  to make any such  distribution
otherwise  than in its sole  discretion.  No adjustment in the number of Warrant
shares  purchasable  upon the exercise of this Warrant need be made for sales of
Common Stock pursuant to a Subsidiary Company plan for reinvestment of dividends
or  interest.  No  adjustment  need be made for a change in the par value of the
Common Stock.

     (e)  Subject  to the terms  set forth  herein,  DVI  shall be  entitled  to
purchase up to five percent (5%) of the Company's issued and outstanding  Common
Stock on a fully-diluted basis  ("Anti-Dilution  Rights"). In the event that the
number  of  issued  and  outstanding  shares of the  Company's  Common  Stock is
increased  prior to the  Expiration  Date,  then the  number of shares of Common
Stock  issuable  upon  exercise of the Warrants  and the Warrant  Price shall be
equitably  adjusted  to give  effect  to  foregoing  Anti-Dilution  Rights.  The
foregoing  Anti-Dilution  Rights shall terminate,  and have no further force and
effect,  once the loans by DVI to the Company,  evidenced by two Second  Amended
and Restated  Secured  Promissory  Notes of even date herewith in the respective
principal amounts of $5,000,000 and $1,596,189 are repaid.

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     3.   Reorganization and Asset Sales.

     If any capital  reorganization or  reclassification of the capital stock of
the  Company,  or any  consolidation  or  merger  of the  Company  with  another
corporation, or the sale of all or substantially all of the capital stock of the
Company to another  corporation,  or the sale of all or substantially all of the
assets or properties of the Company to another corporation, shall be effected in
such a manner so that  Holder of  Company  Common  Stock  shall be  entitled  to
receive  stock,  securities or assets with respect to or in exchange for Company
Common Stock, then, and in such event, the following provisions shall apply:

     (a) Not more than 45 or less than 15 days prior to the  consummation of any
     such  reorganization,  reclassification,   consolidation,  merger  or  sale
     (collectively, "Reorganization Transactions"), the Company shall notify the
     Holder of the  Reorganization  Transaction (at the same time notice of same
     shall be made  generally  available to the other Holders of Company  Common
     Stock),  describing  in such notice in  reasonable  detail the terms of the
     Reorganization  Transaction  and the  stock,  securities  or  assets  to be
     received with respect to or in exchange for Common Stock of the Company. In
     the event the Holder exercise this Warrant not more than 45 or less than 15
     days prior to the  consummation  of the  Reorganization  Transaction,  such
     Holder  shall be  entitled  to receive  stock,  securities  or assets  with
     respect to or in exchange for Common Stock  (collectively,  "Reorganization
     Consideration")  on the same basis as the other  Holder of  Company  Common
     Stock participating in the Reorganization Transaction as if such Holder had
     previously exercised this Warrant and held such number of Warrant Shares to
     which they are entitled based on the Exercise Price.

     (b) The Company shall not effect any such Reorganization Transaction unless
     prior to or  simultaneous  with the  consummation  thereof,  the  successor
     corporation (if other than the Company) resulting therefrom shall assume by
     written  instrument  executed and made  available to the Holder at the last
     address of the Holder appearing on the books of the Company, the obligation
     to deliver to the Holder such shares of stock, securities or assets, as, in
     accordance  with the  foregoing  provisions,  the Holder may be entitled to
     receive,  any and all other  liabilities  and  obligations  of the  Company
     hereunder.  In the event the Holder of this Warrant  shall not exercise the
     Warrant prior to or simultaneous  with  consummation of the  Reorganization
     Transaction, such Holder shall be entitled to receive a warrant to purchase
     Common Stock in the successor corporation (if other than the Company) which
     shall be  appropriately  adjusted  as to exercise  price,  number of shares
     which may be  purchased  thereunder  and other  terms,  so as to  equitably
     reflect the  Reorganization  Transaction and entitle the Holder to purchase
     that  number  of  shares  of  Common  Stock  of the  successor  corporation
     equivalent  in value to the  consideration  that  such  Holder  would  have
     received  had  Holder  exercised  this  Warrant  immediately  prior  to  or
     simultaneously with such Reorganization Transaction.

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     4.   Notice of Adjustment.

     Whenever the Exercise Price and the number of Warrant Shares  issuable upon
the exercise of this Warrant shall be adjusted as herein provided, or the rights
of the Holder  shall  change by reason of other  events  specified  herein,  the
Company  shall  compute the adjusted  Exercise  Price and the number of adjusted
Warrant  Shares in  accordance  with the  provisions  hereof and shall prepare a
certificate  signed by its Chief  Executive  Officer,  or its President,  or its
Chief  Financial  Officer,  setting  forth the adjusted  Exercise  Price and the
adjusted  number of Warrant Shares issuable upon the exercise of this Warrant or
specifying  the other shares of stock,  securities,  or assets  receivable  as a
result of such changes in rights, and showing in reasonable detail the facts and
calculations upon which such adjustments or other changes are based. The Company
shall  cause to be mailed to the  Holder  copies of such  officer's  certificate
together with a notice stating that the Exercise Price and the number of Warrant
Shares  purchasable upon exercise of this Warrant have been adjusted and setting
forth the  adjusted  Exercise  Price and the adjusted  number of Warrant  Shares
purchasable upon the exercise of this Warrant.

     5.   Certain Representations of the Company.

     The Company represents that it has (i) all requisite power and authority to
issue this Warrant and the Warrant Shares,  and (ii)  sufficient  authorized and
unissued shares of Common Stock to permit exercise of this Warrant.

     6. No  Shareholder  Rights.  No Holder of this Warrant  shall,  as such, be
entitled  to vote or be deemed the  holder of Common  Stock or any other kind of
securities of the Company,  nor shall anything  contained herein be construed to
confer upon the Holder the rights of a  shareholder  of the Company or the right
to vote  for  the  election  of  directors  or  upon  any  matter  submitted  to
shareholders  at any  meeting  thereof,  or  give  or  withhold  consent  to any
corporate  action or to receive  notice of meetings or other  actions  affecting
shareholders  (except as otherwise  expressly  provided  herein),  or to receive
dividends or subscription rights or otherwise,  until the date of Holder' proper
exercise of this Warrant as described herein.

     7. Notices.  Any notice,  demand,  request,  waiver or other  communication
under this  Agreement  must be in  writing  and will be deemed to have been duly
given (i) on the date of  delivery  if  delivered  by hand to the address of the
party specified below (including delivery by courier),  or (ii) on the fifth day
after  deposit in the U.S.  Mail if mailed to the party to whom  notice is to be
given  to the  address  specified  below,  by first  class  mail,  certified  or
registered, return receipt requested, First Class postage prepaid:

to the Company:

                         Schick Technologies, Inc.
                         31-00 47th Avenue
                         Long Island City, New York 11101
                         Attn:  Chief Executive Officer or President

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the Holder:              DVI Financial Services Inc.
                         500 Hyde Park
                         Doylestown, Pennsylvania 18901
                         (after July 11, 2000, to:
                         2500 York Road
                         Jameson, Pennsylvania 18929)
                         Attn:  President

with a copy to:          DVI, Inc.
                         500 Hyde Park
                         Doylestown, Pennsylvania 18901
                          (after July 11, 2000, to:
                         2500 York Road
                         Jameson, Pennsylvania 18929)
                         Attn: Legal Department

Any party may from time to time change its address for the purpose of notices to
that party by a similar notice specifying a new address, but no such change will
be deemed to have been given until it is actually  received by the party  sought
to be charged with its contents.

     8.   General.

     (a) This Warrant shall be governed by and construed in accordance  with the
laws of the State of New York without regard to its conflict of laws provisions.

     (b) Section and  subsection  headings  used herein are included  herein for
convenience  of  reference  only and shall not affect the  construction  of this
Warrant or constitute a part of this Warrant for any other purpose.

     (c)  This  Warrant  may  be  executed   simultaneously  in  any  number  of
counterparts,  each of  which  shall be  deemed  an  original,  but all of which
together  shall   constitute  one  and  the  same  instrument  when  instruments
originally executed by each party shall have been received by the Company.

     (d) The  Holder  may  surrender  this  Warrant  to the  Company in order to
receive a number of replacement warrants in various denominations to purchase in
the aggregate an equal number of Warrant Shares.

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     IN WITNESS WHEREOF, the Company has duly executed this Warrant on and as of
the date first set forth above.

                                            SCHICK TECHNOLOGIES, INC.

                                            By: _____________________________

                                            Name: ___________________________

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                                     NOTICE
                                       OF
                                WARRANT EXERCISE

TO SCHICK TECHNOLOGIES, INC.:

     The undersigned  hereby  irrevocably  elects to exercise the Warrant and to
purchase  thereunder  ________  full shares of Common  Stock  issuable  upon the
exercise of such Warrant.

     The  Exercise  Price  for  this  warrant  shall  be  paid  by  delivery  of
$___________ in cash as provided for in the Warrant.

     The  undersigned  requests  that  certificates  for such Warrant  Shares be
issued in the name of:

              Name: _________________________________________________

              Address: ______________________________________________

              Employer I.D. or S.S. #: ______________________________

     If such number of Warrants  shall not be all the Warrants  evidenced by the
Warrant document,  the undersigned  requests that a new document  evidencing the
Warrants not so exercised issued and registered in the name of and delivered to:

                                      ----------------------------------------
                                      Name

                                      ----------------------------------------
                                      Address
                                      ----------------------------------------
                                      Employer I.D. or Social Security Number

Date:
      ------------------              ----------------------------------------
                                      Signature
                                      (Signature  must  conform in all respects
                                      to name of holder as specified on the face
                                      of this Warrant Certificate)REGISTRATION RIGHTS AGREEMENT

     THIS REGISTRATION RIGHTS AGREEMENT (this "Agreement") made this 15th day of
March,  2000 by and between SCHICK  TECHNOLOGIES,  INC., a Delaware  corporation
("Schick" or the  "Company")  and DVI FINANCIAL  SERVICES  INC.  ("DVI") and its
permitted designees (individually, a "Holder" and, collectively, the "Holders").

     WHEREAS,  Schick has agreed to issue to DVI warrants  (the  "Warrants")  to
purchase shares of Schick Common Stock and to register the underlying  shares of
its common stock to be issued pursuant to the exercise of such warrants pursuant
to the terms and conditions of this Agreement;

     The parties hereto agree as follows:

                                    ARTICLE 1

Section 1.1 Definitions.

     Certain defined terms used herein and not otherwise  defined shall have the
meanings for such terms as used in the Loan Agreement.  In addition,  as used in
this Agreement, the following capitalized terms have the following meanings:

     Exchange Act shall mean,  as of any date,  the  Securities  Exchange Act of
1934, as amended, or any similar federal statute then in effect, and a reference
to a particular  section  thereof  shall  include a reference to the  comparable
section,  if any, of any similar  federal  statute and the rules and regulations
thereunder.

     Holders  shall mean any Holder and his  permitted  transferee  or  assignee
under the Loan Agreement.

     Public Offering shall mean a public offering and sale of equity  securities
of the Company or any successors thereto,  pursuant to an effective registration
statement under the Securities Act.

     Registrable  Securities  shall mean the Schick Common Stock issued pursuant
to the exercise of the Warrants.

     As to any particular Registrable Securities, such securities shall cease to
be Registrable  Securities when (i) a registration statement with respect to the
sale of such securities shall have become effective under the Securities Act and
such securities shall have been disposed of under such  registration  statement,
(ii) such  securities  shall have become  eligible  for resale  pursuant to Rule
144(k) and any restrictive  legend on certificates  representing such securities
shall  have been  removed,  (iii)  such  securities  shall  have been  otherwise
transferred  or disposed  of, and (x) new  certificates  therefor  not bearing a
legend  restricting  further  transfer shall have

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been  delivered by the Company,  and (y)  subsequent  transfer or disposition of
them shall not require their registration or qualification  under the Securities
Act or any similar state law then in force or compliance  with Rule 144, or (iv)
such securities shall have ceased to be outstanding.  The Registrable Securities
held by a holder  shall cease to be  Registrable  Securities  if such Holder can
immediately sell all Registrable Securities held by such Holder pursuant to Rule
144.

     Securities  Act shall mean, as of any date,  the Securities Act of 1933, as
amended,  or any similar federal  statute then in effect,  and in reference to a
particular section thereof shall include a reference to the comparable  section,
if any,  of any such  similar  federal  statute  and the rules  and  regulations
thereunder.

                                    ARTICLE 2

                               Registration Rights

Section 2.1 Piggyback Registration Rights.

     (a) If at any time or from time to time,  the Company  shall  determine  to
register any of its securities, for its own account or the account of any of its
stockholders  (including any  registration of its securities held by Greystone &
Co.,  pursuant  to  Greystone's  demand  therefor),  other  than a  registration
relating solely to employee benefit plans, or a registration  relating solely to
an SEC Rule 145 transaction,  a transaction  relating solely to the sale of debt
or convertible  debt  instruments or a registration on any form (other than Form
S-1, S-2 or S-3, or their successor forms) which does not include  substantially
the same  information  as would be required  to be  included  in a  registration
statement covering the sale of Registrable Securities, the Company will:

          (i) give to the Holders  written notice thereof as soon as practicable
     prior to filing the registration statement; and

          (ii) include in such  registration  and in any  underwriting  involved
     therein,  all the Registrable  Securities specified in a written request or
     requests,  made  within  fifteen  (15) days after  receipt of such  written
     notice from the Company by the Holder.

     (b) If the  registration is for a registered  Public Offering  involving an
underwriting,  the  Company  shall so advise the Holder as a part of the written
notice given pursuant to subsection  2.1(a)(i).  In such event, the right of the
Holder to  registration  pursuant to Section 2.1 shall be conditioned  upon such
Holder's  participation in such  underwriting and the inclusion of such Holder's
Registrable Securities in the underwriting to the extent provided herein. Should
the Holder propose to distribute his securities  through such  underwriting,  he
shall  (together  with the  Company  and the other  Holders  distributing  their
securities through such underwriting) enter into an underwriting  agreement with
the underwriter or underwriters  selected for such  underwriting by the Company.
Notwithstanding  any  other  provision  of  this  Section  2.1,  if  a  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

                                       2

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Securities  to be included in the  registration  and  underwriting.  The Company
shall so advise the Holder and the other Holders  distributing  their securities
through such underwriting  pursuant to piggyback  registration rights similar to
this Section 2.1, and the number of shares of  Registrable  Securities and other
securities that may be included in the registration  and  underwriting  shall be
allocated  among  the  Holder  and other  Holders  in  proportion,  as nearly as
practicable,  to the respective percentage of the Company held by the Holder and
other  securities  held  by  other  Holders  at the  time of the  filing  of the
registration statement assuming the exercise of all warrants held by DVI. If the
Holder  disapproves  of the  terms of any  such  underwriting,  he 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) All expenses for registrations pursuant to this Section 2.1, including,
without  limitation,  printing  expenses,  expenses of compliance  with blue sky
laws,  fees and  disbursements  of counsel for the  Company and  expenses of any
audits  incidental to or required by any such Registration  Statement,  shall be
borne by the Company,  except that (i) all expenses,  fees and  disbursements of
any counsel retained by the Holders shall be borne entirely by such Holders, and
(ii) all registration and filing fees and all brokerage and calling  commissions
shall be borne by the Holders holding the securities registered pursuant to such
Registration  Statement in pro rata fashion,  according to the quantity of their
securities so registered.

Section 2.2 Indemnification.

     (a) In the event of any registration of any securities of the Company under
the Securities Act pursuant to this  Agreement,  the Company will, and it hereby
agrees to,  indemnify and hold  harmless,  to the extent  permitted by law, each
Holder of any Registrable Securities covered by such registration statement, its
directors and officers or general and limited partners, as follows:

          (i)  against  any and all loss,  liability,  claim,  damage or expense
     whatsoever  arising  out of or based  upon an untrue  statement  or alleged
     untrue statement of a material fact contained in any registration statement
     (or  any  amendment  or  supplement   thereto),   including  all  documents
     incorporated  therein by  reference,  or the  omission or alleged  omission
     therefrom of a material fact required to be stated  therein or necessary to
     make the  statements  therein not  misleading,  or arising out of an untrue
     statement or alleged  untrue  statement of a material fact contained in any
     preliminary  prospectus  or  prospectus  (or any  amendment  or  supplement
     thereto) or the omission or alleged  omission  therefrom of a material fact
     necessary in order to make the statements therein not misleading;

          (ii) against any and all loss,  liability,  claim,  damage and expense
     whatsoever to the extent of the aggregate  amount paid in settlement of any
     litigation,  or investigation  or proceeding by any governmental  agency or
     body,  commenced or threatened,  or of any claim  whatsoever based upon any
     such untrue statement or omission,  or any such alleged untrue statement or
     omission,  if such  settlement is effected with the written  consent of the
     Company; and

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<PAGE>

          (iii)  against  any and all  expense  reasonably  incurred  by them in
     connection  with   investigating,   preparing  or  defending   against  any
     litigation,  or investigation  or proceeding by any governmental  agency or
     body, commenced or threatened,  or any claim whatsoever based upon any such
     untrue  statement or  omission,  to the extent that any such expense is not
     paid under  subparagraph (i) or (ii) above;  provided,  however,  that this
     indemnity does not apply to any loss,  liability,  claim, damage or expense
     to the  extent  arising  out  of an  untrue  statement  or  alleged  untrue
     statement  or omission  or alleged  omission  made in reliance  upon and in
     conformity  with  written  information  furnished  to the  Company by or on
     behalf of any such Holder or to the extent such Holder fails to comply with
     Section  2.2 (b).  Such  indemnity  shall  remain in full  force and effect
     regardless of any investigation  made by or on behalf of such Holder or any
     such director,  officer, general or limited partner,  investment advisor or
     agent,  or  controlling  person  and shall  survive  the  transfer  of such
     securities by such Holder.

     (b) The Company may require,  as a condition to including  any  Registrable
Securities  in  any  registration   statement  filed  in  accordance  with  this
Agreement,  that the  Company  shall have  received  an  undertaking  reasonably
satisfactory to it from the Holder of Registrable  Securities,  to indemnify and
hold harmless (in the same manner and to the same extent as set forth in Section
2.2(a)) the Company  with respect to any  statement  or alleged  statement in or
omission or alleged omission from such registration statement,  any preliminary,
final or summary prospectus  contained therein,  or any amendment or supplement,
if such statement or alleged  statement or omission or alleged omission was made
in reliance upon and in  conformity  with written  information  furnished to the
Company by or on behalf of such  Holder.  Such  indemnity  shall  remain in full
force and effect  regardless  of any  investigation  made by or on behalf of the
Company or any such director,  officer or  controlling  person and shall survive
the transfer of such securities by such Holder.  In that event,  the obligations
of the Company and such  Holder  pursuant to this  Section 2.2 are to be several
and not joint;  provided,  however,  that with respect to each claim pursuant to
this Section, the Company shall be liable for the full amount of such claim, and
each such  Holder's  liability  under  this  Section  2.2 shall be limited to an
amount  equal  to the  proceeds  received  by  such  Holder  from  the  sale  of
Registrable Securities held by such Holder pursuant to this Agreement.

     (c) Promptly  after receipt by an  indemnified  party  hereunder of written
notice  of the  commencement  of any  action  or  proceeding  involving  a claim
referred to in this  Section 2.2,  such  indemnified  party will,  if a claim in
respect thereof is to be made against an indemnifying party, give written notice
to  such  indemnifying  party  of the  commencement  of such  action;  provided,
however,  that the failure of any  indemnified  party to give notice as provided
herein shall not relieve the  indemnifying  party of its obligations  under this
Section  2.2,  except to the  extent  that the  indemnifying  party is  actually
prejudiced  by such  failure to give timely  notice.  In case any such action is
brought  against  an  indemnified  party,  unless  in such  indemnified  party's
reasonable  judgment  a  conflict  of  interest  between  such  indemnified  and
indemnifying  parties  may exist in  respect  of such  claim (in which  case the
indemnifying  party  shall not be liable for the fees and  expenses of more than
one firm of counsel for a majority of the Holders of  Registrable  Securities in
connection with any one action or separate but similar or related actions),  the
indemnifying party will be entitled to participate in and to assume the

                                       4

<PAGE>

defense thereof,  jointly with any other indemnifying party similar notified, to
the  extent  that it may  wish  with  counsel  reasonably  satisfactory  to such
indemnified  party,  and  after  notice  from  the  indemnifying  party  to such
indemnified  party  of its  election  so to  assume  the  defense  thereof,  the
indemnifying party will not be liable to such indemnified party for any legal or
other expenses  subsequently  incurred by such indemnifying  party in connection
with the defense thereof.

Section 2.3 Contribution.

     In order to provide for just and equitable  contribution  in  circumstances
under  which the  indemnity  contemplated  by Section  2.7 is for any reason not
available,  the  parties  required  to  indemnify  by the  terms  thereof  shall
contribute to the aggregate losses, liabilities, claims, damages and expenses of
the nature  contemplated by such indemnity agreement incurred by the Company and
any Holder of Registrable Securities,  except to the extent that contribution is
not permitted  under Section 11(f) of the  Securities  Act. In  determining  the
amounts which the respective parties shall contribute, there shall be considered
the  relative  benefits  received  by  each  party  from  the  offering  of  the
Registrable  Securities  (taking into account the portion of the proceeds of the
offering  realized  by each),  the  parties'  relative  knowledge  and access to
information  concerning the matter with respect to which the claim was asserted,
the  opportunity  to correct and prevent any statement or omission and any other
equitable  considerations  appropriate under the circumstances.  The Company and
each  Holder  selling  securities  agree  with  each  other  that no  seller  of
Registrable  Securities  shall be required to contribute any amount in excess of
the amount such Holder would have been required to pay to an  indemnified  party
if the indemnity under Section 2.7(b) were available.

Section 2.4 Rule 144.

     The  Company  covenants  that it has  filed  all of the  reports  that were
required to be filed by it under the Securities Act and the Exchange Act and the
rules and regulations adopted by the SEC thereunder,  including periodic reports
under Section 13 or 15(d) of the Exchange Act (the  "Reports")  and that it will
timely file all Reports required  thereafter.  If at any time the Company ceases
to be required to file such periodic reports, the Company will, upon the request
of any Holder of Registrable Securities, make publicly available the information
specified in  paragraph  (c) of Rule 144 under the  Securities  Act, and it will
take such further action as any Holder of Registrable  Securities may reasonably
request,  all to the extent  required from time to time to enable such Holder to
sell Registrable Securities without registration under the Securities Act within
the limitation of the  exemptions  provided by (i) Rule 144 under the Securities
Act, as such Rule may be amended from time to time,  or (ii) any similar rule or
regulation  hereafter  adopted by the SEC. Without  limitation to the foregoing,
the Company  shall,  promptly  upon the  request of any Holder,  deliver to such
Holder a written  statement as to whether it has complied with the  requirements
of Section 13 or 15(d) of the Exchange Act during the 12 months  preceding  such
request.  Each Holder may assign his rights  under this  Agreement  to anyone to
whom he sells, transfers or assigns any of the Registrable Securities so long as
the new Holder is not and will not upon receipt of such  Registrable  Securities
become an affiliate of the Company.

                                       5

<PAGE>

                                    ARTICLE 3

                                   Termination

Section 3.1 Certain Terminations.

     (a) The provisions of this Agreement  shall  terminate on the date which is
ten (10) years from the date of this Agreement.

     (b)  Notwithstanding  the  foregoing,  this  Agreement  shall in any  event
terminate  with  respect  to any  Holder  when such  Holder  no longer  owns any
Registrable Securities.

                                    ARTICLE 4

                                  Miscellaneous

Section 4.1 Successors and Assigns.

     The rights to have the Company register Registrable  Securities pursuant to
this Agreement shall be  automatically  assigned by the Holder to any transferee
of all or any portion of such securities of Registrable  Securities only if: (a)
the Holder  agrees in writing  with the  transferee  or  assignee to assign such
rights,  and a copy of such  agreement  is  furnished  to the  Company  within a
reasonable time after such  assignment,  (b) the Company is, within a reasonable
time after such transfer or assignment, furnished with written notice of (i) the
name and address of such  transferee  or assignee and (ii) the  securities  with
respect to which such registration rights are being transferred or assigned, (c)
immediately  following  such transfer or assignment  the further  disposition of
such securities by the transferee or assignee is restricted under the Securities
Act and  applicable  state  securities  laws,  and (d) at or before the time the
Company received the written notice  contemplated by clause (b) of this sentence
the transferee or assignee agrees in writing with the Company to be bound by all
of the  provisions  contained  herein.  In the event of any delay in filing  the
Registration Statement as a result of such assignment,  the Company shall not be
liable for any damages arising from such delay.

Section 4.2 Amendment and Modification; Waiver of Compliance; Conflicts.

     (a)  This  Agreement  may be  amended  only by a  written  instrument  duly
executed by DVI and Schick.

     (b) Except as otherwise  provided in this Agreement,  any failure of any of
the parties to comply with any  obligation,  covenant,  agreement  or  condition
herein may be waived by the party  entitled to the  benefits  thereof  only by a
written  instrument signed by the party granting such waiver, but such waiver or
failure  to  insist  upon  strict  compliance  with such  obligation,  covenant,
agreement or condition shall not operate as a waiver of, or estoppel

                                       6

<PAGE>

with respect to, any subsequent or other failure.

Section 4.3 Notices.

     Any  notice,  request,  claim,  demand,  document  and other  communication
hereunder to any party shall be  effective  upon receipt (or refusal of receipt)
and shall be in writing and  delivered  personally  or sent by telex or telecopy
(with such telex or telecopy  confirmed  promptly in writing sent by first class
mail), or first class mail, or other similar means of communication, as follows:

to the Company:
                        Schick Technologies, Inc.
                        31-00 47th Avenue
                        Long Island City, New York 11101
                        Attn:  Chief Executive Officer or President

to the Holder:          DVI Financial Services Inc.
                        500 Hyde Park
                        Doylestown, Pennsylvania 18901
                        (after July 11, 2000, to:
                        2500 York Road
                        Jameson, Pennsylvania 18929)
                        Attn:  President

with a copy to:         DVI, Inc.
                        500 Hyde Park
                        Doylestown, Pennsylvania 18901
                         (after July 11, 2000, to:
                        2500 York Road
                        Jameson, Pennsylvania 18929)
                        Attn: Legal Department

     All such  communications  shall be deemed to have been given,  delivered or
made  when so  delivered  by hand or sent by telex  (answer  back  received)  or
facsimile, or five business days after being so mailed.

Section 4.4 Headings.

     The section and  paragraph  headings  contained in this  Agreement  are for
reference  purposes  only  and  shall  not  affect  in any  way the  meaning  or
interpretation of this Agreement.

Section 4.5 Litigation.

     THIS  AGREEMENT  SHALL BE GOVERNED BY,  CONSTRUED,  APPLIED AND ENFORCED IN
ACCORDANCE  WITH THE LAWS OF THE STATE OF NEW YORK.

                                       7

<PAGE>

EACH OF THE  PARTIES  HERETO  ACKNOWLEDGES  AND AGREES  THAT IN THE EVENT OF ANY
BREACH OF THIS AGREEMENT,  THE NON-BREACHING  PARTY WOULD BE IRREPARABLY  HARMED
AND COULD NOT BE MADE WHOLE BY MONETARY  DAMAGES,  AND THAT,  IN ADDITION TO ANY
OTHER  REMEDY TO WHICH THEY MAY BE  ENTITLED  AT LAW OR IN EQUITY,  THE  PARTIES
SHALL BE ENTITLED TO SUCH EQUITABLE OR INJUNCTIVE  RELIEF AS MAY BE APPROPRIATE.
EACH PARTY  AGREES  THAT  JURISDICTION  AND VENUE WILL BE PROPER IN NEW YORK AND
WAIVES  ANY  OBJECTIONS  BASED  UPON FORUM NON  CONVENIENS.  EACH  PARTY  WAIVES
PERSONAL  SERVICE OF PROCESS AND AGREES THAT A SUMMONS AND COMPLAINT  COMMENCING
AN ACTION OR  PROCEEDING  SHALL BE  PROPERLY  SERVED AND SHALL  CONFER  PERSONAL
JURISDICTION  IF  SERVED BY  REGISTERED  OR  CERTIFIED  MAIL TO THE PARTY AT THE
ADDRESS SET FORTH IN THIS AGREEMENT, OR AS OTHERWISE PROVIDED BY THE LAWS OF THE
STATE OF NEW YORK OR THE  UNITED  STATES.  THE CHOICE OF FORUM SET FORTH IN THIS
SECTION  4.5 SHALL NOT BE DEEMED TO PRECLUDE  THE  ENFORCEMENT  OF ANY  JUDGMENT
OBTAINED IN ANY OTHER FORUM OR THE TAKING OF ANY ACTION UNDER THIS  AGREEMENT TO
ENFORCE SAME IN ANY OTHER APPROPRIATE JURISDICTION.

Section 4.6 No Strict Construction.

     The  language  used in this  Agreement  will be deemed  to be the  language
chosen by the parties  hereto to express  their  mutual  intent,  and no rule of
strict construction will be applied against any person.

Section 4.7 Counterparts.

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

     IN WITNESS  WHEREOF,  the parties hereto have caused this  instrument to be
duly executed as of the date first above written.

DVI FINANCIAL SERVICES, INC.                SCHICK TECHNOLOGIES, INC.

/s/ Gerald A. Hayes, Jr.                    /s/ David Schick
---------------------------------------     ------------------------------------
By:    GERALD A. HAYES, JR.                 By: David Schick
Title: VICE PRESIDENT                       Title: CEO
       CHIEF CREDIT OFFICER

                                       8

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