Document:

EXHIBIT 10.58 

SECURITY AGREEMENT 

Moving Bytes Inc. f/k/a E*Comnetrix,
Inc. a company incorporated under the Canada Business Corporations Act, Moving Bytes Inc.,
a Nevada Corporation, and all of their predecessors, parent companies, subsidiaries, and
all related entities (hereinafter collectively called “Debtor”), and Joseph
Karwat (hereinafter called “Secured Party”), agree as follows: 

RECITALS 

     A.    
          Pursuant to the terms of that Settlement Agreement dated June ___, 2003, Debtor
          has agreed to pay Secured Party the sum of $292,953.63, together with interest
          as provided therein (“the Settlement Agreement”). 

     B.    
          Pursuant to the terms of this Security Agreement, Debtor desires to grant to
          Secured Party a security interest in certain collateral and Secured Party
          desires to accept same for purposes of securing payments due Seller under the
          terms of the Settlement Agreement. 

NOW THEREFORE, the parties agree as
follows: 

1.      Security
Interest. Debtor hereby assigns to Secured Party and grants Secured           Party a
security interest in all of Debtor’s present and future accounts,           deposit
accounts, accounts receivable, chattel paper, contract rights,           equipment,
instruments and letters of credit, documents, contracts, general           intangibles,
money, cash, cash equivalents and any and all other rights to           payment now
possessed or hereafter acquired by Debtor, except to the extent not           permitted
by virtue of the Company’s existing contracts with MCI and Qwest
          Communications.  

2.      Release
of Security Interest. Upon Karwat’s receipt of the final payment           due under
this Agreement, he will immediately release the Company from the           security
interest described herein, and take all action necessary to complete           that
release within ten (10) days of receipt of the final payment. Further, upon           the
Company’s sale of its telecommunications business, the Company shall           pay
to Karwat all of the proceeds of the sale, up to and including the lesser of
          the following two amounts: (1) the remaining unpaid principal under the
          Settlement Agreement; or (2) One Hundred Thousand Dollars ($100,000.00). Upon
          receipt of said proceeds, Karwat shall immediately release his security
interest           in the telecommunications business, including but not limited to the
          telecommunications accounts receivable, customer base and customer contracts.
          Karwat will take all action necessary to complete that release within ten (10)
          days of receipt of the sale proceeds described in this paragraph, and shall
          indemnify the Company for any damage to the Company caused by his willful
          failure to complete that release within ten (10) days.  

3.      Security
Interest in Proceeds. Debtor also hereby grants and transfers to           Secured Party
a security interest in any and all proceeds and products of the           foregoing and
all accessions to, substitutions and replacements for and rents           and profits of
each of the foregoing; provided, however, that nothing in this           paragraph shall
constitute, or be deemed to constitute, a grant of authority to           Debtor to sell,
lease, or otherwise dispose of or encumber the collateral, or           any part of the
collateral, without the prior written consent of Secured Party,           except as
provided in paragraph 2 above.  

Page 1 of 6 

4.      Further
Assurances. As long as Debtor is indebted to Secured Party, Debtor will           execute
and deliver to Secured Party such assignments, including the standard           forms of
assignment covering individual accounts, notices and financing           statements as
Secured Party may require from time to time, and such other           documents and
papers as Secured Party may require in order to affirm,           effectuate, or further
assure the assignment to Secured Party of collateral or           Secured Party’s
security interest in it, or to give any third party,           including the account
debtors obligated on the accounts, notice of Secured           Party’s interest in
the collateral.  

5.      Debtor’s
Affirmative Covenants. Debtor promises: 

     
   a.       To pay the Obligations           to Secured
Party when they are due.  

     
   b.       To
indemnify Secured Party against loss of any kind, including reasonable           attorney
fees, caused to Secured Party by reason of its interest in the           Collateral.  

     
   c.       To
keep Debtor’s business property in good repair. 

     
   d.       To pay all taxes                     when due.  

     
   e.       Not
to change the name or place of debtor’s business, or to use a
                    fictitious business name, without first notifying Secured Party in
writing.  

     
   f.       Not
to sell, lease, transfer, or otherwise dispose of the Collateral except,
                    before the occurrence of a default, for cash proceeds of accounts
collected in                     the ordinary course of business, except as provided in
paragraph 2 above.  

     
   g.       Not
to permit liens on the Collateral, except existing liens, current tax
                    liens, and purchase money liens.  

     
   h.       Not to use the Collateral for any unlawful
                    purpose or in any way that would void any effective insurance.  

     
   i.       To perform all                     acts
necessary to maintain, preserve, and protect the Collateral.  

     
   j.       Not to Move                     the Collateral
from the following locations without first obtaining Secured                     Party’s
agreement in writing.  

     
   k.       To execute and deliver to Secured Party
                    all documents Secured Party may reasonably require in order for
Secured Party to  maintain a perfected security interest in the collateral.  

     6.     
          Debtor’s Covenant Against Further Encumbrances. Until Debtor’s
          obligations secured under this Agreement shall have been fully performed, Debtor
          shall not sell, dispose of, or grant a security interest in the collateral,
          other than to Secured Party, or execute any financing statements covering the
          collateral in favor of any person other than Secured Party, except as provided
          in paragraph 2 above. 

     7.     
          Notification and Collection of Accounts by Secured Party. In the event of any
          default by Debtor, Secured Party may give notice of assignment to any and all
          account debtors and may collect accounts directly from account debtors. In the
          event of a default, Debtor appoints Secured Party its irrevocable attorney with
          power to receive, open, and dispose of all mail addressed to Debtor; to endorse
          the name of Debtor on any checks or other evidences of payment that may come
          into the possession of Secured Party on the accounts and on any invoice, freight
          or express bill, bill of lading, or other document about any of the accounts; in
          its name or otherwise, to demand, sue for, collect, and give acquittance for any
          and all moneys due or to become due on accounts; to compromise, prosecute, or
          defend any action, claim, or proceeding about them; and to do any and all things
          necessary and proper to carry out the purposes contemplated in this Agreement. 

Page 2 of 6 

     8.     
          Financing Statement. Secured Party shall perfect its security interest in the
          collateral. 

     9.     
          Payment by Secured Party. Secured Party may at its option, but shall not be
          required to, pay on behalf of Debtor and on the account of Debtor any taxes,
          assessments, liens, insurance premiums, repair costs, or maintenance costs that
          pursuant to the terms of this Agreement should have been but were not paid by
          Debtor. Any moneys expended or expenses incurred by Secured Party under this
          paragraph shall also be secured by the security interest created by this
          Agreement and shall be due and payable by Debtor to Secured Party, together with
          interest at the highest rate allowed by law, on demand. 

     10.    
          Debtor’s Warranties and Representations. Debtor covenants, warrants and
          represents as follows: 

      
  a.                 Debtors
are incorporated under the laws of Nevada and the Canada Business           Corporations
Act, each duly organized, validly existing, and in good standing           under the laws
of their respective jurisdiction of organization, and have           authority to conduct
their business where ever it is conducted.  

     
   b.                 Debtor
has been authorized to execute and deliver this Security Agreement. The
          Security Agreement is a valid and binding obligation of Debtor. The Agreement
          creates a perfected, first-priority security interest enforceable against the
          Collateral in which Debtor now has rights, and will create a perfected,
          first-priority security interest enforceable against the Collateral in which
          Debtor later acquires rights, when Debtor acquires those rights, subject to
          paragraph 2.  

     
   c.                 Neither
the execution and delivery of this Security Agreement, nor the taking of           any
action in compliance with it, will (1) violate or breach any law,           regulation,
rule, order, or judicial action binding on Debtor, any agreement to           which
Debtor is a party, Debtor’s articles of incorporation or bylaws; or           (2)
result in the creation of a lien against the Collateral except that created           by
this agreement.  

     11.    
          Default and Acceleration. Debtor will be in default if: (a) any payment is made
          late or there is any breach of any warranty, statement, promise, term, condition
          or agreement, contained in or secured by this Agreement; (b) any statement or
          representation made for the purpose of obtaining credit under this Agreement
          proves false; ; (c) Debtor becomes insolvent or makes an assignment for the
          benefit of creditors; (d) any proceeding is commenced by or against Debtor under
          any bankruptcy, reorganization, arrangement, readjustment of debt, or moratorium
          law or statute; (e) any writ of attachment, garnishment, execution, or other
          legal process is issued against any property of Debtor; or (f) any assessment
          for taxes against Debtor, other than real property, is made by the federal or
          state government or any department of them. Should any such default occur, then
          Debtor shall have thirty (30) days from the date of any such default to cure
          Debtor’s performance thereof. In the event Debtor fails to cure any such
          payment default within that 30-day period, then all of the obligations
          secured by this Agreement shall immediately become due and payable without
          demand first made and without any notice to Debtor. 

12.              Rights
on Default. On the occurrence of an event specified in Paragraph 11           above,
Secured Party has all of the rights and remedies of a Secured Party under
          California’s Commercial Code, in addition to the rights and remedies
          provided in this Agreement or any other instrument or  

Page 3 of 6 

writing executed by
          Debtor. In that respect, Secured Party may, at its option and without demand on
          or notice to Debtor, do any one or more of the following:  

     
   a.                 Immediately
take possession of the collateral wherever it may be found, using           any force
permitted by law to do so, and Debtor waives all claims for damages           due to or
arising from any such taking;  

     
   b.       Proceed
in the foreclosure of Secured Party’s security interest and sale
                    of collateral in any manner permitted by law, or provided for in this
Agreement;  

     
   c.       Sell, lease, or otherwise dispose of collateral
at public or private sale,                     with or without having the collateral at
the place of sale, and on terms and in                     such manner as Secured Party
may determine, provided it is in compliance with                     the California
Commercial Code and Secured Party may purchase it at any such                     sale;  

     
   d.       Retain collateral in full satisfaction of the
obligations secured by                     it;  

     
   e.       Exercise any remedy of a Secured Party under
California’s Uniform                     Commercial code.  

        Prior
to any such disposition, Secured Party may, at its option, cause any of collateral to be
repaired or reconditioned in such manner and to such extent as may seem advisable to
Secured Party, and any sums expended for it by Secured Party shall be paid by Debtor and
secured by this Agreement. 

        Secured
Party shall have the right to enforce one or more remedies under this Agreement
successively or concurrently, and any such action shall not estop or prevent Secured Party
from pursuing any further remedy that it may have under this Agreement or by law. If a
sufficient sum is not realized from disposition of collateral to pay all obligations
secured by this Agreement, Debtor promises and agrees to pay Secured Party any deficiency. 

     13.    
          Risk of Loss. Debtor assumes all risk of loss of the collateral and Debtor shall
          not be released from any obligations under this Agreement because of any loss,
          damage or disrepair suffered to or by the collateral or any part of it. 

     14.    
          Charges Incurred Under this Agreement with Respect to the Collateral. All
          advances, charges, costs and expenses, including reasonable attorneys’
          fees, incurred or paid by Secured Party in exercising any right, power, or
          remedy conferred by this Agreement, or in the enforcement thereof, shall become
          a part of the obligations secured hereunder and shall be paid to Secured Party
          by the Debtor immediately and without demand, with interest thereon at the legal
          rate. 

     15.    
          Assignment by Secured Party. Secured Party may assign his rights under this
          Security Agreement and the security interest created by this Security Agreement.
          Should Secured Party assign his rights under this Agreement or the security
          interest created by this Agreement, Secured Party’s assignee shall be
          entitled, on written notice of the assignment being given by Secured Party to
          Debtor, to all performance required of Debtor by this Agreement and all payments
          and moneys secured by this Agreement. 

     16.    
          Waiver. 

     
   a.      Neither
the acceptance of any partial or delinquent payments by Secured Party           nor
Secured Party’s failure to exercise any right or remedy on default by
          Debtor shall be deemed a  

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waiver of any default, a
modification of this           Agreement, or Debtor’s obligations under this
Agreement, or waiver of any           subsequent default by Debtor.  

     
   b.      Debtor
further waives any right to require Secured party to:  

        
         (1)
       Proceed against                any person;  

        
         (2)
       Proceed against or exhaust any collateral; or  

        
         (3)
                 Pursue
any other remedy in Secured Party’s power; and further waives any           defense
arising by reason of any disability or other defense of the Debtor or           any other
person, or by reason of the cessation from any cause whatsoever of the
          liability of the Debtor or any other person. Until the obligations shall have
          been fully preformed, Debtor shall have no right of subrogation and Debtor
          further waives any right to enforce any remedy which Secured Party now has or
          may hereafter have against Debtor or against any other person and waives any
          benefit of any right to participate in any collateral or security whatsoever
now           or hereafter held by Secured Party;  

        
         (4)
       Release
or substitute the Debtor, or any of the endorsers or guarantors of the
          indebtedness or any part thereof, or any other parties thereto.  

     17.    
          Rights of Secured Party. The rights, powers, and remedies given to the Secured
          Party by virtue of this Agreement shall be in addition to all rights, powers,
          and remedies given to the Secured Party by virtue of any statute or rule of law.
          Any forbearance, failure, or delay by the Secured Party in exercising any right,
          power, or remedy hereunder shall not be deemed to be a waiver of such right,
          power, or remedy, and any single or partial exercise of any right, power, or
          remedy hereunder shall not preclude the further exercise thereof; and every
          right, power, and remedy of the Secured Party shall continue in full force and
          effect until such right, power, or remedy is specifically waived by an
          instrument in writing executed by the Secured Party. 

     18.    
          Survival of Representations and Warranties. Debtor’s representations and
          warranties made in this Security Agreement will survive its execution, delivery
          and termination. 

     19.    
          Notices. Except as otherwise expressly provided in this Agreement or by law, any
          and all notices or other communications required or permitted by this Agreement
          or by law to be served on, given to, or delivered to either party hereto, Debtor
          or Secured Party, by the other party to this Agreement shall be in writing and
          shall be deemed duly served, given, delivered, and received when personally
          delivered to the party to whom it is directed, or in lieu of such personal
          delivery, when deposited in the United States mail, first-class postage prepaid,
          addressed to Debtor at 5858 Horton St. Ste 101, Emeryville, CA 94608, with a
          copy to Debtor’s legal counsel at Fitzgerald, Abbott & Beardsley LLP,
          1221 Broadway, 21st Floor, Oakland, CA 94612, or to Secured Party
          at 1868 Drake Drive, Oakland, CA 94611, with a copy to Secured Party’s
          legal counsel at 2637 Grant Street, Berkeley, CA 94703. Either party, Debtor or
          Secured Party, may change its/his address for the purpose of this paragraph by
          giving written notice of such change to the other party in the manner provided
          in this paragraph. 

     20.    
          Time of Essence. Time is hereby expressly declared to be of the essence of this
          Agreement. 

     21.    
          Governing Law. This Security Agreement will be governed by the law of
          California. 

Page 5 of 6 

     22.    
Binding on Heirs and Assigns. This Agreement and each of its provisions shall be
          binding on the heirs, executors, administrators, successors, and assigns of each
          of the parties hereto. Nothing contained in this paragraph, however, shall be
          deemed a consent to the sale, assignment, or transfer of the collateral or their
          obligations under this Agreement by Debtor. 

Executed on June ___, 2003, at
Oakland, California.  

SECURED PARTY’S SIGNATURE  

      
                
                
                
                
    
    JOSEPH KARWAT  

DEBTORS’ SIGNATURE

Moving Bytes Inc. f/k/a E*Comnetrix
Inc.    

By      
                
                
                
                

     Its Authorized Agent
     Mark Smith, President  

Moving Bytes Inc.  

By      
                
                
                
                

     Its Authorized Agent
     Mark Smith, PresidentEXHIBIT 10.30 

CONVERTIBLE NOTE
PURCHASE AGREEMENT 

        This
Convertible Note Purchase Agreement, dated as of July 1, 2003 (this
“Agreement”) is entered into by and among Aptimus, Inc., a Washington
corporation (the “Company”) and the individuals identified on the
signature pages hereto (each such individual, a “Purchaser,” and collectively,
the “Purchasers”) with respect to the following: 

RECITALS 

        WHEREAS,
the Company has authorized the sale and issuance of $500,000.00 in principal amount of
secured convertible promissory notes (the “Notes”) to purchase Common
Stock of the Company; and  

        WHEREAS,
the Purchasers, each and collectively, are willing to purchase from the Company and the
Company is willing to sell to the Purchasers the Notes on the terms and conditions set
forth in this Agreement, the Notes, the security agreement (the “Security
Agreement”) to be made by the Company in favor of the Purchasers, the Common
Stock Warrant (the “Warrant”), and the registration rights agreement
(the “Registration Rights Agreement”) to be entered into among the
Company and the Purchasers (collectively, the “Transaction Documents”).  

AGREEMENT 

        NOW
THEREFORE, in consideration of the foregoing, and the representations, warranties and
conditions set forth herein, the parties hereto, intending to be legally bound, hereby
agree as follows:  

        1.       Purchase
and Sale of the Notes.  

        
        (a)       Sale
and Issuance of the Notes. In reliance upon the representations,           warranties
and covenants of the parties set forth herein, the Company agrees to           issue,
sell and deliver to the individual Purchasers identified on the signature           pages
hereto, a Note in the principal amount identified next to such           Purchaser’s
name, for an aggregate purchase price in the face amount of           such Note, and each
Purchaser agrees to purchase such securities from the           Company for the purchase
price as specified on the respective signature pages           hereto. The terms and
conditions of the Notes are set forth in the form of Note           attached hereto as Exhibit
A.  

        
        (b)       Grant
of a Security Interest. In connection with the Closing (as defined           below),
the Company shall have (a) executed and delivered the Security Agreement           and
the Warrants, substantially in the forms attached hereto as Exhibit B          and
Exhibit C, respectively, and (b) taken all other actions reasonably
          requested by the Purchasers necessary to perfect Purchasers’ security
          interest in the Company’s assets, in accordance with the terms of the
          Security Agreement. In connection with the Closing (as defined below), the
          Purchasers shall have executed and delivered the Security Agreement.  

        
        (c)       Registration
Rights Agreement. In connection with the Closing (as defined           below), the
Company and the Purchasers shall have executed and delivered the           Registration
Rights Agreement, substantially in the form attached hereto as Exhibit D.  

        2.       Closing.
The sale of the Notes and issuance of the Warrants (the           “Closing”)
shall take place at the offices of the Company, on           June 18, 2003 or such later
date as shall be mutually acceptable to the Company           and the Purchasers (such
date, the “Closing Date”). At the           Closing, on the terms and
subject to the conditions hereof, each Purchaser shall           pay to the Company, by
cashier’s check or wire transfer of immediately           available funds the
purchase price for each such Purchaser’s Note as           specified in Section 1(a)
above, and in exchange for and upon receipt or           confirmation of such payment,
the Company will issue and deliver the respective           Notes and Warrants, together
with copies of the other signed original form           Transaction Documents, including
the Purchase Agreement, Security Agreement, and           Registration Rights Agreement,
to each of the Purchasers.  

        3.       Representations
and Warranties of the Company. The Company hereby           represents and warrants
to the Purchasers that, except as otherwise disclosed to           the Purchasers in
writing, the statements contained in the following paragraphs           of this Section 3
are all true and correct as of the date of this Agreement:  

        
        (a)       Organization
and Standing. The Company is a corporation duly organized           and validly
existing under the laws of the State of Washington and has all           requisite
corporate power and authority to carry on its business as presently           conducted.
The Company is qualified or licensed to do business as a foreign           corporation in
all jurisdictions where such qualification or licensing is           required, except
where the failure to so qualify would not have a material           adverse effect upon
the business, condition, affairs or operations of the           Company and its
properties and assets taken as a whole.  

        
        (b)       Corporate
Power. The Company has all requisite legal and corporate power           to enter
into, execute and deliver the Transaction Documents and issue the           shares of
common stock upon conversion of the Notes. This Agreement is, and upon           issuance
of the Notes and Warrants and execution and delivery of the Security           Agreement
and the Registration Rights Agreement, respectively, the Notes, the           Warrants,
the Registration Rights Agreement and the Security Agreement will be,           valid and
binding obligations of the Company, enforceable in accordance with           their terms,
except as the same may be limited by bankruptcy, insolvency,           moratorium, and
other laws of general application affecting the enforcement of           creditors’ rights.  

        
        (c)       Authorization.
All corporate and legal action on the part of the Company,           its officers,
directors and stockholders necessary for the execution and           delivery of the
Transaction Documents, the sale and issuance of the Notes, the           issuance of the
Warrants, and the performance of the Company’s obligations           under the
Transaction Documents has been taken. The issuance of the Notes and           Warrants
pursuant to the provisions of this Agreement will not violate any           preemptive
rights or rights of first refusal granted by the Company that have           not
otherwise been waived or complied with, and the Notes and Warrants, subject           to
the accuracy of the representations and warranties set forth in Section 4
          hereof, will be issued in compliance with all applicable federal and state
          securities laws.  

        
        (d)       Valid
Issuance. The Notes, the Warrants, any Common Stock of the Company           issued
upon conversion of the Notes (the “Note Shares”) and           exercise
of the Warrants upon payment therefor by the Purchasers (the           “Warrant
Shares”), (together, the “Securities”), when           issued in
compliance with the provisions of the Transaction Documents and the           Charter 

-2- 

Documents (as defined below), will
be validly issued, fully paid and           nonassessable, and will be free of any liens
or encumbrances; provided, however, that the Notes will be
non-transferable, except by operation of           law, and the Note Shares and Warrant
Shares may be subject to restrictions on           transfer imposed (i) by the
Transaction Documents, (ii) under applicable state           and/or federal securities
laws as set forth in capitalized lettering at the top           of the first page of each
of the certificates or instruments representing such           securities, and (iii) as
may be required by future changes in such laws.  

        
        (e)       Capitalization.
Immediately prior to the Closing, the capitalization of           the Company will
consist of total of 100,000,000 authorized shares of Common           Stock, no par
value, 4,220,933 shares of which are issued and outstanding, and           6,814,516
shares of Preferred Stock, of which no shares are issued and           outstanding. All
of the outstanding shares of capital stock have been duly           authorized, are fully
paid and nonassessable and were issued in compliance with           all applicable
federal and state securities laws. Except for (A) shares of           Common Stock
reserved for future issuance pursuant to the Company’s stock           incentive
plans and agreements, (B) shares of Common Stock issuable pursuant to           the
Company’s rights agreement, and (C) the Note Shares and Warrant Shares,
          there are no other outstanding shares of capital stock or outstanding rights of
          first refusal, preemptive rights or other rights, options, warrants, conversion
          rights, subscriptions, obligations or other agreements either directly or
          indirectly for the purchase or acquisition from the Company of any shares of
its           capital stock.  

        
        (f)       Compliance
with Law and Charter Documents. The Company is not in           violation or default
of any provisions of its Articles of Incorporation or           Bylaws, as amended to
date (the “Charter Documents”). The           Company is in compliance
in all material respects with all applicable statutes,           laws, regulations and
executive orders of the United States of America and all           states, foreign
countries or other governmental bodies and agencies having           jurisdiction over
the Company’s business or properties, except as where the           failure to be in
compliance therewith could not reasonably be expected to have a           material
adverse effect on the business, property, financial condition or           results of
operations of the Company.  

        
        (g)       Subsidiaries.
The Company does not presently own or control, directly or           indirectly, any
interest in any other corporation, association, or other           business entity.  

        
        (h)       Litigation.
There is no action, suit, proceeding or arbitration           (“Action”)
pending, and to the Company’s knowledge, there           is no Action, claim or
investigation currently threatened, against the Company,           its activities,
properties or assets, or against any officer, director or           employee of the
Company in connection with such officer’s, director’s           or employee’s
relationship with or actions taken on behalf of the Company.           The Company is not
a party to or subject to the provisions of any material           order, writ,
injunction, judgment or decree of any court or governmental agency           or
instrumentality and there is no Action or claim by the Company currently
          pending or which the Company intends to initiate.  

        
        (i)       Government
Consent, Etc. To the Company’s knowledge, no consent,           approval, order
or authorization of, or designation, registration, declaration           or filing with,
any federal, state, local or provincial or other governmental           authority on the
part of the Company is required in connection with the valid           execution and
delivery of the Transaction Documents, or the offer, sale or           issuance of the
Securities, other than, if required, filings or qualifications           under 

-3- 

federal securities law or applicable
state securities laws, which filings           or qualifications, if required, will be
timely filed or obtained by the Company.  

        
        (j)       Title
to Properties and Assets; Liens, etc. The Company has good and           marketable
title to its properties and assets and has good title to all its           leasehold
interests, in each case subject to no mortgage, pledge, lien, lease,
          encumbrance or charge, other than (i) the lien of current taxes not yet due and
          payable, (ii) liens pursuant to equipment leases, (iii) possible minor liens
and           encumbrances which do not in any case materially detract from the value of
the           property subject thereto or materially impair the operations of the
Company, and           which have not arisen otherwise than in the ordinary course of
business, and           (iv) a security interest in certain leased assets granted to
Comerica Bank           (f.k.a Imperial Bank).  

        
        (k)       Disclosure.
The Company has fully provided the Purchasers with all           information that the
Purchasers have requested for deciding whether to purchase           the Notes. Neither
this Agreement nor any other statement or certificate made or           delivered in
connection with the Agreement and the transactions contemplated           hereby contains
any untrue statement of a material fact or omits to state a           material fact
necessary not to make the statements herein untrue or misleading.  

        4.       Representations
and Warranties by the Purchaser. Each Purchaser severally           represents and
warrants to the Company with respect to itself only as follows:  

        
        (a)       Investment
Intent; Authority. This Agreement is made with each Purchaser           in reliance
upon such Purchaser’s representation to the Company, evidenced           by such
Purchaser’s execution of this Agreement, that each Purchaser is           acquiring
the Securities for investment for the Purchaser’s own account,           not as
nominee or agent, for investment and not with a view to, or for resale in
          connection with, any distribution or public offering thereof within the meaning
          of the Securities Act of 1933, as amended (the “Securities           Act”)
or any state securities laws. Each Purchaser has the full right,           power,
authority and capacity to enter into and perform this Agreement and this
          Agreement will constitute a valid and binding obligation of such Purchaser,
          except as the same may be limited by bankruptcy, insolvency, moratorium, and
          other laws of general application affecting the enforcement of creditors’          rights.  

        
        (b)       Shares
Not Registered. Each Purchaser understands and acknowledges that           the
offering of the Securities will not be registered under the Securities Act           or
under any state securities laws on the grounds that the offering and sale of
          the Securities contemplated by this Agreement are exempt from registration
under           the Securities Act and under any state securities laws, and that the
          Company’s reliance upon such exemptions is predicated, in part, upon each
          Purchaser’s representations set forth in this Agreement. Each Purchaser
          acknowledges and understands that resale of the Securities may be restricted
          indefinitely unless the Securities are subsequently registered under the
          Securities Act or an exemption from such registration and such qualification is
          available.  

        
        (c)       No
Transfer. Each Purchaser acknowledges that the Notes are           non-transferable
except by operation of law, and covenants that in no event will           it dispose of
any Note Shares other than (i) in conjunction with an effective           registration
statement for such Securities under the Securities Act or pursuant           to a
transaction not requiring the filing of such a  

-4- 

registration statement and
          (ii) in compliance with the applicable securities laws of any state. Each
          Purchaser acknowledges and agrees that the Notes and the certificates
evidencing           the Note Shares shall contain legends to the foregoing effect.  

        
        (d)       Accredited
Investor. Each Purchaser (i) is an “accredited           investor” as such
term is defined in Rule 501(a) of Regulation D           promulgated by the Securities
and Exchange Commission under the Securities Act;           and (ii) has the ability to
bear the economic risks of the prospective           investment, including a complete
loss of such Purchaser’s investment in the           Securities. If the Purchaser
was organized for the purpose of acquiring the           Securities, each equity investor
of the Purchaser meets the requirements of           parts (i) and (ii) of this
subsection.  

        
        (e)       Adequate
Information. Each Purchaser believes that it has received all           the
information it considers necessary or appropriate for deciding whether to
          purchase the Securities. Each Purchaser further represents that it has had an
          opportunity to ask questions and receive answers from the Company regarding the
          terms and conditions of the offering of the Securities and the business,
          properties, prospects and financial condition of the Company.  

        
        (f)       Knowledge
and Experience. Each Purchaser has such knowledge and           experience in
financial or business matters that the Purchaser is capable of           evaluating the
merits and risks of the investment in the Securities.  

        5.       Event
of Default. An occurrence of any of the following, unless waived by           the
Purchasers in writing, shall constitute an “Event of           Default” under
this Agreement and the Notes:  

        
        (a)       Payment
Default. The Company fails to pay when due any amount owing under           the
Notes.  

        
        (b)       Covenant
Default. The Company shall fail to perform any obligation or           violates any
of the covenants, representations or warranties, contained in this           Agreement,
or fails or neglects to perform, keep, or observe any other material           term,
provision, condition, covenant, or agreement contained in the Transaction
          Documents and such failure, if subject to cure, continues for a period of
thirty           (30) days after written notice to the Company from the Purchasers.  

        
        (c)       Voluntary
Bankruptcy or Insolvency Proceeding. The Company shall (i)           apply for or
consent to the appoint of a receiver, trustee, liquidator or           custodian of
itself or of all or a substantial part of its property, (ii) make a           general
assignment for the benefit of its or any of its creditors, (iii) be           dissolved
or liquidated in full or in substantial part, (iv) commence a           voluntary case or
other proceeding seeking liquidation, reorganization or other           relief with
respect to itself or its debts under any bankruptcy, insolvency or           other
similar law now or hereafter in effect or consent to any such relief or to           the
appointment of or taking possession of its property by any official in an
          involuntary case or other proceeding commenced against it, or (v) take any
          action for the purpose of effecting any of the foregoing.  

        
        (d)       Involuntary
Bankruptcy or Insolvency Proceeding. Proceedings for the           appointment of a
receiver, trustee, liquidator or custodian of the Company or of           all or a
substantial part of the property thereof, or an involuntary case or           other
proceedings seeking liquidation, reorganization or other relief with           respect to
the Company or the debts thereof under  

-5- 

any bankruptcy, insolvency or
          other similar law now or hereafter in effect shall be commenced and an order
for           relief entered or such proceeding shall not be dismissed or discharged
within           sixty (60) days of commencement.  

        6.       Rights
of the Purchasers upon Default. Upon the occurrence or existence           of any
Event of Default (other than an Event of Default referred to in Sections           5(c)
and 6(d) of this Agreement) and at any time thereafter during the           continuance
of such Event of Default, the Purchasers, or any of them, may, by           written
notice to the Company, declare all outstanding obligations payable by           Company
hereunder to be immediately due and payable without presentment, demand,
          protest or any other notice of any kind, all of which are hereby expressly
          waived, anything contained in the Transaction Documents notwithstanding. Upon
          the occurrence or existence of any Event of Default described in Sections 5(c)
          and 5(d) of this Agreement, immediately and without notice, all outstanding
          obligations payable by the Company hereunder shall automatically become
          immediately due and payable, without presentment, demand, protest or any other
          notice of any kind, all of which are hereby expressly waived, anything
contained           in the Transaction Documents to the contrary notwithstanding. In
addition to the           foregoing remedies, upon the occurrence of any Event of
Default, the Purchasers           shall have the right to exercise any other right, power
or remedy granted to it           by the Transaction Documents or otherwise permitted to
it by action at law or by           suit in equity.  

        7.       Investor
Covenants. The parties acknowledge that, except for the limited           rights of
Comerica Bank as described in Section 3(j) hereof, the Notes shall           have
priority and be senior in right of payment to all indebtedness of Company.
          Notwithstanding the foregoing, to the extent required by any bank, financial
          institution, or other lender and any successors and assigns thereto providing a
          loan to the Company (each a “Bank” and together the           “Banks”),
Purchasers agree to enter into a subordination agreement as           may reasonably be
requested by any such Bank or Banks acknowledging that the           Notes shall be
subordinate and junior in right of payment to all such           indebtedness, subject to
the limitation set forth in Section 8(c)(i).  

        8.       Company
Covenants. The Company covenants and agrees that, until payment           in full of
all outstanding obligations under the Notes (the           “Obligations”),
unless otherwise consented to by the Purchasers           in writing, which consent the
Purchasers may grant or withhold in their sole           discretion:  

        
        (a)       Good
Standing. The Company shall maintain its existence in its           jurisdiction of
formation and maintain qualification in each jurisdiction in           which the failure
to so qualify could reasonably be expected to have a material           adverse effect on
the business or operations of the Company.  

        
        (b)       Further
Assurances. At any time and from time to time the Company shall           execute and
deliver such further instruments and take such further action as may           reasonably
be requested by the Purchasers to effect the purposes of this           Agreement.  

        
        (c)       Negative
Covenants. The Company shall not take any of the following           actions without
the prior written consent of a majority of not less than           seventy-one percent
(71%) of the Purchasers:  

-6- 

	  	        (i)                      create,
incur, assume or be or remain liable with respect to any secured
               indebtedness in excess of $5,000,000 in the aggregate, other than
indebtedness                incurred by the subject matter of this Agreement or incurred
in connection with                indebtedness to banks, commercial finance lenders,
equipment lessors, insurance                companies and other financial institutions;
provided that any secured                indebtedness senior to Purchasers’ security
interest in any of the assets                of the Company shall not exceed sixty
percent (60%) of the Company’s                outstanding accounts receivable
measured at the time of the incurrence of such                indebtedness;  

	  	        (ii)                      declare
or pay any dividends or make any other distribution or payment on                account
of or in redemption, retirement or purchase of any capital stock, except
               that the Company may repurchase the stock of former employees pursuant to
stock                repurchase agreements and stock subject to escrow or forfeiture
under agreements                related to acquisitions made by the Company as long as an
Event of Default does                not exist or would not exist after giving effect to
such repurchase;  

	  	        (iii)                      except
as provided in this Agreement, as permitted under the Security Agreement,
               or as created by law in the ordinary course of business grant or cause to
be                granted any interest in or lien against any of the Company’s
assets; or  

	  	        (iv)                      enter
into any agreement or understanding with respect to any of the foregoing.  

        
        (d)       Use
of Funds. The Company shall use funds provided by the Purchasers for
          general corporate purposes in accordance with the Company’s plans approved
          by the Company’s Board of Directors.  

        
        (e)       Timely
Payment. The Company shall meet its obligations to its employees           and
vendors, including tax payments related thereto, in a timely fashion and as
          required by law.  

        9.       Conditions
to the Obligations of the Purchasers. Unless such conditions           are waived by
the Purchasers, the obligation of each Purchaser to purchase and           pay for such
Purchaser’s Note is subject to the satisfaction, on or before           the Closing
Date, of the following conditions:  

        
        (a)       Representations
and Warranties. The representations and warranties of the           Company contained
in Section 3 of this Agreement shall be true on and as of the           Closing Date with
the same effect as though such representations and warranties           had been made on
and as of the Closing Date.  

        
        (b)       Performance.
The Company shall have performed and complied with all           agreements, obligations
and conditions contained in this Agreement that are           required to be performed or
complied with by it on or before the Closing Date.  

-7- 

        
        (c)       Compliance
Certificate. An officer of the Company shall deliver to the           Purchasers at
the Closing a certificate stating that the conditions specified in           Section 9(a)
and 9(b) have been fulfilled.  

        10.
     Conditions
to Obligations of the Company.  

        
        (a)       Representations
and Warranties. The representations and warranties in           Section 4 of this
Agreement shall be true on and as of the Closing Date as to           all of the
Purchasers with the same effect as though such representations and           warranties
had been made on and as of the Closing Date.  

        
        (b)       Payment
of Purchase Price. Each Purchaser shall have delivered to the           Company the
purchase price as specified in Section 1 of this Agreement.  

        
        (c)       Delivery
of Form W-9. Each Purchaser shall have completed and delivered           to the
Company a validly executed IRS Form W-9, establishing such           Purchaser’s
exemption from withholding tax.  

        
        (d)       Performance.
Each Purchaser shall have performed and complied with all           agreements,
obligations and conditions contained in this Agreement that are           required to be
performed or complied with by it on or before the Closing Date.  

        11.     
Miscellaneous.  

        
        (a)       Waivers,
Amendments and Termination. Except as otherwise provided, any           provision of
this Agreement may be amended, waived or modified only upon the           written consent
of the Company and each Purchaser. This Agreement shall           terminate on the
earlier to occur of (a) the Closing Date, if the Closing has           not occurred on or
prior to such date, or (b) the date on which the Obligations           have been paid in
full.  

        
        (b)       Legal
Fees and Expenses. Each party to this Agreement shall pay all costs           and
expenses that it incurs with respect to the negotiation, execution, delivery
          and performance of the Transaction Documents.  

        
        (c)       Entire
Agreement. This Agreement together with all exhibits attached           hereto and
thereto constitute the full and entire understanding and agreement           between the
parties with regard to the subjects hereof and thereof.  

        
        (d)       Governing
Law. The Transaction Documents and all actions arising out of           or in
connection with the Transaction Documents shall be governed by and           construed in
accordance with the laws of the State of Washington, without regard           to the
conflicts of law provisions of the State of Washington or of any other           state.  

        
        (e)       Notices,
etc. All notices and other communications required or permitted           hereunder
shall be in writing and shall be shall be deemed to have been duly           given: (i)
upon delivery with written confirmation of receipt thereof if           personally
delivered to the party to be notified, (ii) upon deposit in the U.S.           mail by
registered or certified mail, return receipt requested, postage prepaid,           and
signed confirmation of receipt thereof, or (iii) when receipt is 

-8- 

confirmed           as evidenced by
a transmittal report if sent via facsimile to the appropriate           facsimile number
listed on the signature pages attached hereto. Any party hereto           may designate a
new address and/or facsimile number by ten (10) days advance           written notice to
the other parties hereto.  

        
        (g)       Validity.
If any provision of the Transaction Documents shall be           determined to be
invalid, illegal or unenforceable, the validity, legality and           enforceability of
the remaining provisions shall not in any way be affected or           impaired thereby.  

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

        
        (i)    Arbitration.  If
any claim or dispute has not been resolved through           negotiation of the parties
to this Agreement, then the claim or dispute will be           determined by arbitration
in Seattle, Washington, in accordance with the           then-current American
Arbitration Association (“AAA”) national rules           for the resolution of
commercial disputes by arbitration, except as modified           herein.  The
arbitration will be conducted by a sole neutral arbitrator who           has had both
training and experience as an arbitrator of general commercial           matters.  If
the Company and the Purchasers cannot agree on an arbitrator,           then the
arbitrator will be selected by the AAA applying the criteria in this           provision.
Reasonable discovery will be permitted and the arbitrator may decide           any issue
as to discovery.  The arbitrator may decide any issue as to           whether or as
to the extent to which any dispute is subject to the dispute           resolution
provisions in this Section 11(i) and the arbitrator may award any           relief
permitted by law.  The arbitrator must base the arbitration award on           the
provisions of this Section 11(i) and applicable law and must render the           award
in a writing, including an explanation of the reasons for the award.           Judgment
upon the award may be entered by any court having jurisdiction of the           matter,
and the decision of the arbitrator will be final and binding.  The           statute
of limitations applicable to the commencement of a lawsuit will apply to           the
commencement of an arbitration under this Section 11(i).  The           arbitrator’s
fees will be paid in equal portions by the parties to the           arbitration.  

[Signature Page Follows] 

-9- 

        IN
WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered
by their proper and duly authorized officers as of the date and year first written above.  

		
	 	COMPANY:
	 
	 	APTIMUS, INC.,
a Washington corporation
	 
	 
	 	By:         
             
             
              
	 
	 	Its:         
                           
              
	 
	 	Address:    
                     
              
	 
	 	         
                      
          
              
	 
	 	         
                             
                 
	 	Fax:         
                          
             
	 
	 
	 	PURCHASER:
SF TECH JV
	 
	 	By:         
             
             
              
	 
	 	Its:         
                           
              
	 
	 	Note Principal:  
	 
	 
	 	Address:    
                     
              
	 
	 	         
                      
          
              
	 
	 	         
                             
                 
	 	Fax:         
                          
             	 
	 

		
	 	 
	 	PURCHASER:
TIMOTHY C. CHOATE
	 
	 	            
             
             
              
	 
	 	Note Principal: 
	 
	 
	 	Address: 657 Mission Street, Suite 200
       
         San Francisco, CA 94105 
	 
	 	Fax:  415-896-2561 
	 
	 
	 	PURCHASER:

ROBERT W. WRUBEL
	 
	 	            
             
             
              
	 
	 	Its:         
                           
              
	 
	 	Note Principal: 
	 
	 
	 	Address:    
                     
              
	 
	 	         
                      
          
              
	 
	 	         
                             
                 
	 	Fax:         
                          
             
	 
	 
	 	PURCHASER:
MAURA O’NEILL
	 
	 	            
             
             
              
	 
	 	Its:         
                           
              
	 
	 	Note Principal: 
	 
	 
	 	Address:    
                     
              
	 
	 	         
                      
          
              
	 
	 	         
                             
                 
	 	Fax:         
                          
             

-11- 

		
	 	 
	 
	 
	 	PURCHASER:

FRED FELKER IRA
	 
	 	By:         
             
             
              
	 
	 	Its:         
                           
              
	 
	 	Note Principal: 
	 
	 
	 	Address:    
                     
              
	 
	 	         
                      
          
              
	 
	 	         
                             
                 
	 	Fax:         
                          
             
	 
	 
	 	PURCHASER:

JOHN STEUART
	 
	 	By:         
             
             
              
	 
	 	Its:         
                           
              
	 
	 	Note Principal: 
	 
	 
	 	Address:    
                     
              
	 
	 	         
                      
          
              
	 
	 	         
                             
                 
	 	Fax:         
                          
             
	 
	 
	 	PURCHASER:

MARIAN L. FELKER IRA
	 
	 	By:         
             
             
              
	 
	 	Its:         
                           
              
	 
	 	Note Principal: 

-12- 

		
	 	 
	 	Address:    
                     
              
	 
	 	         
                      
          
              
	 
	 	         
                             
                 
	 	Fax:         
                          
             

-13-

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