Document:

EX-4.09

WARP TECHNOLOGY HOLDINGS, INC.

PROMISSORY NOTE

$1,000,000.00 July 6, 2005

WARP TECHNOLOGY HOLDINGS, INC., a Nevada corporation, (“Maker”), for value received, hereby
executes and delivers this non-interest bearing (subject to Section 6 hereof) promissory note
(“Note”) in favor of Bristol Technology, Inc., a Delaware corporation (“Holder”), and hereby
promises to pay to Holder the aggregate principal amount of One Million Dollars ($1,000,000.00)
(the “Principal Amount”) in accordance with the terms and conditions hereof.

This Note is issued in connection with the transactions described in that certain Stock
Purchase Agreement (the “Purchase Agreement”), dated as of June 10, 2005, by and among Maker,
Holder and Kenosia Corporation (the “Company”), and is subject to the terms and conditions of the
Purchase Agreement, including, without limitation, Section 2.2 of the Purchase Agreement
(relating to purchase price adjustment), which Purchase Agreement is incorporated by reference
herein and made a part hereof. Notwithstanding anything to the contrary contained herein and
without limiting the generality of the foregoing, the Principal Amount, the September Payment (as
defined hereinafter) and the January Payment (as defined hereinafter) are subject to adjustment as
provided for in the Purchase Agreement.

This Note shall be binding upon Maker, its successors and permitted assigns, and shall inure
to the benefit of Holder, its successors and permitted assigns. Capitalized terms used herein
without definition of any such term shall have the respective meaning given to such term in the
Purchase Agreement.

1. Payment Dates. Maker shall pay to Holder the Principal Amount in two payments as
follows: (i) $500,000.00 (as such amount may be adjusted in accordance with the Purchase
Agreement), on September 1, 2005 (the “September Payment”), and (ii) $500,000 (as such amount may
be adjusted in accordance with the Purchase Agreement) on January 31, 2006 (the “January Payment”).

2. Prepayment. Holder may, at any time and from time to time, prepay all or any
portion of the outstanding balance under this Note, without premium or penalty. Any partial
prepayment shall not affect the obligation to continue to pay in full the amount outstanding
hereunder until the entire unpaid principal balance hereof, along with all accrued interest, if
any, and any other charges and fees, have been paid in full.

3. Method and Application of Payment. Maker shall pay all amounts payable under this
Note in cash by wire transfer of immediately available United States funds to an account designated
by Holder or, if no account has been designated, by bank check delivered to Holder at the address
set forth for Holder in Section 7 hereof. All payments hereunder shall be applied first, to any
outstanding expenses or other charges, if any; second, to accrued but unpaid interest, if any; and,
then, to unpaid principal.

4. Security Interest. Payment of this Note is secured by a first priority lien on the
Company’s capital stock, as evidenced by that certain pledge and security agreement dated as of
July 6, 2005 between Maker, Company and Holder (the “Pledge Agreement”).

5. Events of Default. The occurrence of any one or more of the following events shall
constitute an event of default hereunder (each such event, an “Event of Default”):

(a) the failure by Maker to make any payment hereunder when due and such failure to pay
continues for five (5) business days after such payment was due;

(b) Maker or the Company has entered against it an order for relief under the United States
bankruptcy code (or any successor statute) or any other order, judgment or decree by any court of
competent jurisdiction on the application of a creditor adjudicating Maker or the Company insolvent
or approving a petition seeking reorganization or appointing a receiver, trustee, custodian or
liquidator of all or a substantial part of Maker’s or the Company’s assets, and such order,
judgment or decree continues unstayed and in effect for a period of sixty (60) days;

(c) Either Maker or Company (i) shall generally not pay or shall be unable to pay its debts as
such debts become due, or (ii) shall commence any proceeding under any bankruptcy, reorganization,
arrangement, readjustment of debt, dissolution, liquidation or other similar law or statute of any
jurisdiction, whether now or hereafter in effect;

(d) an assignment is made for the benefit of Maker’s or the Company’s creditors of all or any
substantial part of its assets, or Maker or the Company consents to the appointment of a receiver,
liquidator, custodian or trustee in bankruptcy for all or any substantial part of its assets;

(e) either of Maker or the Company shall be liquidated, dissolved, partitioned or terminated,
or the charter thereof shall expire or be revoked;

(f) a material breach by Maker or the Company of the covenants contained in Sections 3.5 and
3.9 and Article 4 of the Pledge Agreement; or

(g) Maker (i) authorizes, declares or pays any cash dividend or other cash distribution on
account of its common stock or any preferred stock outstanding as of the date hereof; or (ii)
redeems its common stock or any preferred stock outstanding as of the date hereof for cash; or

(h) Maker sells, assigns or otherwise transfers any common stock or other equity securities of
Company.

6. Interest. Notwithstanding anything herein to the contrary, upon the occurrence of
an Event of Default, all amounts then outstanding under this Note shall bear interest at a rate of
one percent (1%) per month commencing on the date on which the Event of Default first occurs.
Interest shall continue to accrue on all outstanding amounts until this Note has been paid in full.
Interest shall be calculated on the basis of a year of 360 days and paid for the actual number of
days elapsed (including the first day but excluding the last day). Accrued interest shall be
payable on the first day of each calendar month.

7. Remedies. Upon the occurrence of an Event of Default hereunder (unless all Events
of Default have been waived by Holder expressly in writing), (a) all amounts outstanding hereunder
shall immediately, and without further action, become due and payable regardless of any prior
forbearance and (b) Holder shall have the right to exercise any and all rights and remedies
available to it under applicable law, including the right to collect from Maker all sums due under
this Note. Secured Party shall provide Maker with written notice of any Event of Default,
provided, that the deliver of such notice shall not be a condition precedent to there being an
Event of Default. Maker shall reimburse all reasonable costs and expenses incurred by Holder in
enforcing any or all of Holder’s rights and remedies under this Note, including reasonable
attorneys’ fees, whether through negotiations, legal proceedings or otherwise. Such reimbursement
shall be due and payable upon demand.

8. No Right of Set-off. All payments shall be made without setoff, deduction, or
counterclaim; provided, that the amount of the September Payment and/or the January Payment may be
reduced in accordance with the terms and conditions of Sections 2.2.5 and 9.4.3 of the Purchase
Agreement.

9. Notices. All notices, consents or other communications required or permitted to
be given under this Note shall be in writing and shall be deemed to have been duly given when
delivered personally or one business day after being sent by a nationally recognized overnight
delivery service, postage or delivery charges prepaid or five (5) business days after being sent by
registered or certified mail, return receipt requested, postage charges prepaid to the addresses
set forth below, or may be given by facsimile and shall be effective on the date transmitted if
confirmed within 48 hours thereafter by a signed original sent in one of the manners provided in
the preceding sentence:

If to Maker:

Warp Technology Holdings, Inc.

151 Railroad Avenue

Greenwich, CT 06830

Attn: Ernest Mysogland

Facsimile No.: (203) 422-5329

With a copy to:

Klehr, Harrison, Harvey, Branzburg & Ellers, LLP

260 S. Broad Street

Philadelphia, PA 19102

Attn: Barry Siegel, Esquire

Facsimile No.: (215) 568-6603

If to Holder:

Bristol Technology, Inc.

39 Old Ridgebury Road

Danbury, CT 06810

Attn: Keith Blackwell

Facsimile No.:      

With a copy to:

Edwards & Angell, LLP

Three Stamford Plaza

301 Tresser Blvd.

Stamford, CT 06901

Attn: Vincent M. Kiernan

Facsimile No: (203) 975-7180

10. Interpretation. The section headings set forth in this Note are solely for the
purpose of reference, are not part of the agreement of the Maker and Holder and shall not in any
way affect the meaning or construction of this Note. Ambiguities and uncertainties in the wording
of this Note shall not be construed for or against either Maker or Holder, but shall be construed
in the manner that most accurately reflects Maker and Holder’s intent as of the date of this Note.
Maker and Holder acknowledge that each has been represented by counsel in connection with the
review and execution of this Note and, accordingly, there shall be no presumption that this Note,
or any provision hereof, be construed against the Maker.

11. Controlling Law. This Note, and all matters arising out of or relating to this
Note shall be governed by and construed in accordance with the laws of the state of Connecticut,
applicable to agreements made and to be performed solely therein, without giving effect to
principles of conflicts of law.

12. Amendment and Modification. Subject to applicable Law, this Note may be amended,
extended, supplemented or otherwise modified only by written agreement entered into by Maker and
Holder.

13. Severability. If any provision of this Note is construed to be invalid, illegal
or unenforceable, then the remaining provisions hereof shall not be affected thereby and shall be
enforceable without regard thereto.

14. Waiver. The rights and remedies of Holder under this Note shall be cumulative and
not alternative. No waiver by Holder of any right or remedy under this Note shall be effective
unless in a writing signed by Holder. Neither the failure nor any delay in exercising any right,
power or privilege under this Note will operate as a waiver of such right, power or privilege, and
no single or partial exercise of any such right, power or privilege by Holder will preclude any
other or further exercise of such right, power or privilege or the exercise of any other right,
power or privilege. To the maximum extent permitted by applicable Law, (i) no claim or right of
Holder arising out of this Note can be discharged by Holder, in whole or in part, by a waiver or
renunciation of the claim or right unless in a writing signed by Holder; (ii) no waiver that may be
given by Holder will be applicable except in the specific instance for which it is given; and (iii)
no notice to or demand on Maker will be deemed to be a waiver of any obligations of Maker or of the
right of Holder to take further action without notice or demand as provided in this Note. MAKER
HEREBY WAIVES PRESENTMENT, DEMAND, PROTEST AND NOTICE OF DISHONOR AND PROTEST AND OTHER DEMANDS AND
NOTICES IN CONNECTION WITH THE DELIVERY, ACCEPTANCE OR ENFORCEMENT OF THIS NOTE.

15. Commercial Transaction. MAKER ACKNOWLEDGES THAT THE TRANSACTION OF WHICH THIS
NOTE IS A PART IS A COMMERCIAL TRANSACTION AND HEREBY VOLUNTARILY AND KNOWINGLY WAIVES ITS RIGHT TO
NOTICE AND HEARING UNDER CHAPTER 903a OF THE CONNECTICUT GENERAL STATUTES, OR AS OTHERWISE ALLOWED
BY THE LAW OF ANY STATE OR FEDERAL LAW WITH RESPECT TO ANY PREJUDGMENT REMEDY WHICH THE COMPANY MAY
DESIRE TO USE.

IN WITNESS WHEREOF, Maker has caused this Note to be duly executed and delivered as of the
date first set forth above.

WARP TECHNOLOGY HOLDINGS, INC.

	 	 	 
	By:

	 	/s/ Ernest Mysogland

Name: Ernest Mysogland

Title: Executive Vice PresidentEX-10.71

PLEDGE AND SECURITY AGREEMENT

THIS PLEDGE AND SECURITY AGREEMENT, dated as of July 6, 2005 (as amended, restated,
supplemented or otherwise modified from time to time and including all exhibits, attachments and
appendices hereto, the “Agreement”), is entered into by and among Warp Technology Holdings,
Inc., a Nevada Corporation (“Pledgor”), Kenosia Corporation, a Delaware corporation
(“Company”) and Bristol Technology, Inc., a Connecticut corporation (“Secured
Party”).

WHEREAS, pursuant to that certain Stock Purchase Agreement, dated as of the date hereof, by
and between Pledgor and Secured Party (as amended, restated, supplemented or otherwise modified
from time to time and including all exhibits, attachments and appendices hereto, the “Purchase
Agreement”), Pledgor has agreed to purchase from Secured Party all of the outstanding capital
stock of Company, in exchange for the consideration set forth therein, which includes, among other
things a promissory note in the initial principal amount of $1,000,000, a copy of which is attached
hereto as Exhibit A (the “Note”); and

WHEREAS, it is a condition to the obligation of Pledgor under the Purchase Agreement, that
Pledgor shall have executed and delivered this Agreement to Secured Party.

NOW, THEREFORE, in consideration of the mutual covenants of Pledgor, Company and Secured Party
set forth herein and other good and valuable consideration, the receipt and adequacy of which are
hereby acknowledged the parties hereto agree as follows:

1. DEFINITIONS

(a) Capitalized terms used herein and not otherwise defined shall have the meanings assigned
by the Purchase Agreement.

(b) All terms used in this Agreement which are not specifically defined herein or in the
Purchase Agreement shall have the meanings assigned to such terms in the Uniform Commercial Code
(the “UCC”) in effect in the state of Connecticut to the extent such terms are defined
therein.

(c) As used in this Agreement the following terms have the following meanings (terms defined
have a correlative meaning when used in the plural and vice versa):

“Event of Default” means anything that constitutes an “Event of Default” under the
Note.

“Pledged Collateral” means the Pledged Shares and Proceeds arising therefrom; provided
that (i) the foregoing shall not be deemed to permit the sale of the Pledged Shares and (ii)
Proceeds shall not mean or include cash dividends or cash distributions on account of the Pledged
Shares.

“Pledged Shares” means all of Pledgor’s now existing and hereafter arising interests
in and to all of the common stock and other equity securities of Company (and any option, rights
and other securities convertible into or granting the right to purchase or exchange for any common
stock or other equity securities of Company), whether now existing or owned or hereafter created or
acquired, wherever located, including substitutions, accessions, additions and replacements thereto
and thereof, together with all instruments, Share Certificates and other documents evidencing
ownership thereof.

“Share Certificate” means a certificate evidencing ownership of any Pledged Shares.

“Termination Date” means the date on which all amounts outstanding under the Note
(including, without limitation, principal, interest, costs of collection and any other charges or
amounts) have been paid in full to the proper holder thereof; provided, that this Agreement
shall continue to be effective or be reinstated, as the case may be, and the Termination Date shall
not be deemed to have occurred, if at any time any payment of any of the amounts outstanding under
the Note (including, without limitation, principal, interest and any other amounts) is rescinded or
must otherwise be returned by the holder of the Note or its predecessors, successors or assigns in
the event of the insolvency, bankruptcy or reorganization or similar proceeding involving Company
or otherwise, all as though such payments of all amounts outstanding under the Note had not been
made.

2. GRANT OF SECURITY INTEREST

As security for the payment and performance of Pledgor’s obligations under the Note, Pledgor
hereby grants to Secured Party a continuing security interest in and a general lien upon the
Pledged Collateral.

3. REPRESENTATIONS, WARRANTIES AND COVENANTS OF PLEDGOR

Each of Pledgor and Company hereby represents and warrants to, and covenants and agrees with,
Secured Party that:

(a) Title; No Other Liens. The Pledgor is the sole legal, record and beneficial owner
of, and has good and marketable title to, the Pledged Shares listed on Exhibit B, which Pledged
Shares are evidenced by the Share Certificates listed on Exhibit B. No security agreement,
financing statement or other public notice with respect to all or any part of the Pledged
Collateral is on file or of record in any public office. Pledgor owns each item of the Pledged
Collateral free and clear of any and all Liens or claims of others.

(b) Perfected First Priority Lien. Upon the delivery of the Share Certificate(s)
listed on Exhibit B, accompanied by appropriate instruments of transfer executed in blank, the
Liens granted pursuant to this Agreement shall constitute perfected Liens on the Pledged Collateral
in favor of Secured Party which are prior to all Liens on the Pledged Collateral.

(c) Locations of Offices; Change of Locations and Names. The address of the principal
place of business and chief executive office of Company is 39 Old Ridgebury Road, Danbury,
Connecticut 06810. Pledgor shall not vote or enable, or take any other action to permit, Company
to change (x) its principal place of business or chief executive office, or (y) its name, identity
or structure, to such an extent that any financing statement filed by Secured Party in connection
with this Agreement would become seriously misleading, unless: (i) Company has given Secured Party
at least thirty (30) days prior written notice and (ii) Company has executed and delivered such
financing statements and other agreements, instruments, certificates and other documents, and taken
such other actions, as may be necessary or desirable, in the reasonable opinion of Secured Party,
to perfect or preserve the Liens created by this Agreement.

(d) Further Assurances; Financing Statements. At any time and from time to time,
Pledgor shall execute and deliver to Secured Party, at Pledgor’s cost and expense, such financing
statements pursuant to the UCC, or amendments or continuations thereof, and such other agreements,
instruments, certificates and other documents, and take such other actions, as may be necessary or
desirable, in the reasonable opinion of Secured Party, to further evidence, effect or perfect, or
preserve the grant, perfection or priority of, the Liens created by this Agreement, or to otherwise
effectuate the purposes of this Agreement. To the extent permitted by applicable Law, Pledgor
hereby authorizes Secured Party to execute and file at any time or times one or more financing
statements pursuant to the UCC with respect to any or all of the Pledged Collateral with or without
the signature of Pledgor. Pledgor hereby agrees that a carbon, photographic or other reproduction
of this Agreement or of a financing statement shall be sufficient as a financing statement.

(e) Disposition of Pledged Collateral. Except with the prior written consent of
Secured Party, Pledgor shall not sell, lease, assign, transfer or otherwise dispose of any of the
Pledged Collateral. In addition, Company shall not, and Pledgor shall cause Company to not, sell
(i) all or a material portion of the assets of Company or (ii) any asset material to the operation
or business of Company.

(f) Delivery and Marking of Certain Pledged Collateral. Pledgor shall, upon the
request of Secured Party, (i) deliver and pledge to Secured Party, duly endorsed and/or accompanied
by such instruments of assignment and transfer in such form and substance as Secured Party may
reasonably request, any and all instruments, documents, Share Certificates and chattel paper which
are included in the Pledged Collateral and (ii) keep and stamp or otherwise mark any and all
documents and its books and records relating to the Pledged Collateral to evidence this Agreement
and the Liens granted hereby.

(g) Notices. Pledgor shall advise Secured Party promptly, in reasonable detail at its
address set forth herein, of any Lien on, or claim asserted against, any of the Pledged Collateral.

(h) Pledged Shares. The Pledged Shares are all of the outstanding equity interest in
the Company.

(i) Certain Additional Covenants.

If Pledgor shall, as a result of its ownership of the Pledged
Collateral, become entitled to receive or shall receive any Share
Certificate (including, without limitation, any Share Certificate issued
pursuant to a distribution in connection with any reclassification or
increase or reduction of capital, or any Share Certificate issued in
connection with any reorganization) or any other certificate evidencing
any Pledged Collateral, Pledgor shall accept the same as the agent of
Secured Party, hold the same in trust for Secured Party and deliver the
same forthwith to Secured Party in the exact form received, duly endorsed
by Pledgor to Secured Party, if required, together with an undated
assignment covering such Share Certificate or other certificate duly
executed in blank by Pledgor to be held by Secured Party, subject to the
terms hereof, as additional Pledged Collateral.

Any cash sums paid upon or in respect of the Pledged Shares upon the
liquidation or dissolution of Company shall be paid over to Secured Party
to be held as additional Pledged Collateral. Any non-cash distribution of
capital or assets of the Company made on or in respect of the Pledged
Shares or any property shall be delivered to Secured Party to be held as
additional Pledged Collateral; provided, that the foregoing shall not
prohibit Company from paying cash dividends or distributions on the
Pledged Shares to Pledgor other than in liquidation or dissolution of
Company. If any capital or property is received by Pledgor which,
pursuant to this Section 3.9(a), is to be held as additional Pledged
Collateral, Pledgor shall, until such capital or property is paid or
delivered to Secured Party, hold such capital or property in trust for
Secured Party, segregated from other funds of Pledgor..

Pledgor shall not vote to enable, or take any other action to permit,
Company to issue, and Company shall not issue, any common stock or other
equity securities or interests or any options, rights or other securities
convertible into or granting the right to purchase or exchange for any
common stock or other equity securities or interests of Company. Pledgor
shall defend the right, title and interest of Secured Party in and to the
Pledged Collateral against the claims and demands of all Persons
whomsoever.

In the event that Pledgor shall acquire any other interest
(including, without limitation, any common stock) in Company, directly or
indirectly, prior to the Termination Date, then at such time, and at
Pledgor’s cost and expense, Pledgor shall (i) grant to Secured Party the
same rights in such after-acquired interests as are granted to Secured
Party herein with respect to the Pledged Collateral; and (ii) execute and
deliver such modifications to this Agreement and to all other documents
entered into by Pledgor in connection herewith that Secured Party may deem
necessary or desirable to evidence such grant to Secured Party.

Pledgor shall not vote to enable, or take any other action to permit,
Company to : (i) redeem, and Company shall not redeem, the interest of any
holder of its equity; or (ii) merge with or into, or consolidate with, and
Company shall not merge with or into or consolidate with, any other
entity.

4. VOTING RIGHTS

Notwithstanding anything to the contrary contained herein, unless an Event of Default shall
have occurred and be continuing, Pledgor shall be permitted to exercise all voting and corporate
rights with respect to the Pledged Shares; provided, that no vote shall be cast or right
exercised or other action taken which, in Secured Party’s sole discretion, would impair in any
respect the grant, perfection or priority of the Liens created hereby, or which would be
inconsistent with, or result in any violation of, any provision of this Agreement, the Note or the
Purchase Agreement.

5. RIGHTS AND REMEDIES UPON DEFAULT

If an Event of Default shall occur and be continuing, Secured Party shall have all of the
following rights and remedies, in addition to all other rights and remedies set forth in other
sections of this Agreement, the Note or the Purchase Agreement, or provided by applicable law or in
equity or otherwise:

(a) Rights Under UCC. Notwithstanding anything to the contrary contained herein, in
addition to all of the rights and remedies contained in this Agreement, in the Note, in the
Purchase Agreement, or provided by applicable law or in equity or otherwise, Secured Party shall
have all rights and remedies of a secured party under the UCC.

(b) Action Pending Disposition. Until Secured Party is able to effect a sale or other
disposition of the Pledged Collateral, Secured Party shall have the right to use or take such
action with respect to the Pledged Collateral, or any part thereof, as it deems appropriate for the
purpose of preserving the Pledged Collateral or its value or for any other purpose deemed
appropriate by Secured Party.

Secured Party shall have no obligation to Pledgor to maintain or preserve the rights of
Pledgor as against third parties with respect to the Pledged Collateral while the Pledged
Collateral is in the possession of Secured Party. Secured Party may, if it so elects, seek the
appointment of a receiver or keeper to take possession of the Pledged Collateral and to enforce any
of Secured Party’s remedies with respect to such appointment without prior notice or hearing.

(c) Distributions and Voting Rights.

If an Event of Default shall occur and be continuing and Secured
Party shall give notice of its intent to exercise such rights to Pledgor,
(i) Secured Party shall have the right to receive any and all dividends
and other distributions paid in respect of the Pledged Shares and make
application thereof to Company’s obligations under the Note; (ii) Secured
Party shall have the right to have all of the Pledged Shares registered in
the name of Secured Party or its nominee; and (iii) Secured Party or its
nominee may exercise (A) all voting and other rights pertaining to such
Pledged Shares at any meeting of members of Company in its own name or the
name of Pledgor, and (B) any and all rights of conversion, exchange,
subscription and any other rights, privileges or options pertaining to
such Pledged Shares as if it were the absolute owner thereof (including,
without limitation, the right to exchange at its discretion any and all of
the Pledged Shares upon the merger, consolidation, reorganization,
recapitalization or other fundamental change in the structure of Company,
or upon the exercise by Pledgor or Secured Party of any right, privilege
or option pertaining to such Pledged Shares, and in connection therewith,
the right to deposit and deliver any and all of the Share Certificates
with any committee, depositary, transfer agent, registrar or other
designated agency upon such terms and conditions as it may determine), all
without liability except to account for property actually received by it.

The rights of Secured Party hereunder shall not be conditioned or
contingent upon the pursuit by Secured Party of any right or remedy
against Company or against any other Person which may be or become liable
in respect of all or any part of Company’s obligations under the Note or
against any Pledged Collateral, guarantee therefor or right of offset with
respect thereto.

(d) Remedies. After the occurrence of an Event of Default and during its continuance,
Secured Party may forthwith collect, receive, appropriate, and realize upon the Pledged Collateral,
or any part thereof, and/or may forthwith sell, assign, give option or options to purchase or
otherwise dispose of and deliver the Pledged Collateral or any part thereof (or contract to do any
of the foregoing), in one or more parcels at public or private sale or sales, in the
over-the-counter market, at any exchange, broker’s board or office of Secured Party or elsewhere
upon such terms and conditions as it may deem advisable and at such prices as it may deem best, for
cash or on credit or for future delivery without assumption of any credit risk. Secured Party
shall have the right upon any such public sale or sales, and, to the extent permitted by Law, upon
any such private sale or sales, to purchase the whole or any part of the Pledged Collateral so
sold, free of any right or equity of redemption in Pledgor, which right or equity is hereby waived
and released. Secured Party shall apply any Proceeds from time to time held by it and the net
proceeds of any such collection, recovery, receipt, appropriation, realization or sale, after
deducting all reasonable costs and expenses of every kind incurred in respect thereof or incidental
to the care or safekeeping of any of the Pledged Collateral or in any way relating to the Pledged
Collateral or the rights of Secured Party hereunder, including, without limitation, reasonable
attorneys’ fees and expenses, to the payment in whole or in part of Company’s obligations under
under the Note, in such order as Secured Party may elect. To the extent permitted by applicable
law, Pledgor waives all claims, damages and demands it may acquire against Secured Party arising
out of the exercise of any rights hereunder. If any notice of a proposed sale or other disposition
of Pledged Collateral shall be required by law, such notice shall be deemed reasonable and proper
if given at least ten (10) days before such sale or other disposition.

(e) Sale Rights; Private Sales. Pledgor recognizes that Secured Party may be unable
to effect a public sale of any or all the Pledged Shares or other Pledged Collateral, by reason of
certain prohibitions contained in the Securities Act of 1933, as amended (the “Securities
Act”), and applicable state securities laws or otherwise, and may be compelled to resort to one
or more private sales thereof to a restricted group of purchasers that will be obliged to agree,
among other things, to acquire such securities for their own account for investment and not with a
view to the distribution or resale thereof. Pledgor acknowledges and agrees that any such private
sale may result in terms less favorable to Pledgor and Secured Party than if such sale were a
public sale and, notwithstanding such circumstances, agrees that any such private sale shall be
deemed to have been made in a commercially reasonable manner. Secured Party shall be under no
obligation to delay a sale of any of the Pledged Shares or other Pledged Collateral for the period
of time necessary to permit Company to register such securities for public sale under the
Securities Act, or under applicable state securities laws, even if such Subsidiary would agree to
do so.

Pledgor further agrees to use its best efforts to do or cause to be done all such other acts as may
be necessary to make such sale or sales of all or any portion of the Pledged Shares or other
Pledged Collateral pursuant to this Agreement valid and binding and in compliance with any and all
other applicable Laws of any and all Governmental Authorities having jurisdiction over any such
sale or sales, all at Pledgor’s cost and expense. Pledgor further agrees that a breach of any of
the covenants contained in this Section will cause irreparable injury to Secured Party, that
Secured Party has no adequate remedy at law in respect of such breach and, as a consequence, that
each and every covenant contained in this Section shall be specifically enforceable against
Pledgor, and to the fullest extent permitted by applicable law, Pledgor hereby waives and agrees
not to assert any defenses against an action for specific performance of such covenants except for
a defense that no Event of Default has occurred or is continuing.

(f) Power of Attorney. To enable Secured Party to effect any sale or other
disposition, after the occurrence of an Event of Default and during its continuance, Pledgor hereby
makes, constitutes and appoints Secured Party as its true and lawful attorney, in its name, place
and stead, and for its account and risk, to make, execute and deliver any and all assignments or
other agreements, instruments, certificates and other documents which Secured Party may deem
necessary or desirable to effectuate the authority hereby conferred by signing Pledgor’s name only
or by signing the same as its attorney-in-fact, as may be deemed by Secured Party to be necessary
or desirable in connection with any sale or other disposition of all or any part of the Pledged
Collateral. The foregoing power of attorney is coupled with an interest and shall be a continuing
one and irrevocable until the Termination Date.

(g) Waiver of Bond. In connection with the foregoing remedies, Pledgor and Secured
Party hereby waive the posting of any bond which might otherwise be required.

(h) Waiver of Claims. To the extent permitted by applicable Law, Pledgor waives all
claims, damages and demands that it may acquire against Secured Party arising out of the exercise
by it of any rights hereunder, except to the any extent such claims, damages and demands arise
solely from the gross negligence or willful misconduct of Secured Party. Secured Party may
exercise all rights and remedies contained in this Agreement, in the Note, in the Purchase
Agreement, or provided by applicable law or in equity or otherwise, without demand of performance
or other demand, presentment, protest, advertisement or notice of any kind (except any notice
expressly provided herein) to or upon Pledgor or any other Person (all and each of which demands,
defenses, advertisements and notices are hereby waived).

(i) Irrevocable Authorization and Instruction to Company. Pledgor hereby irrevocably
authorizes and instructs Company to comply with any instruction received by it from Secured Party
in writing in connection with this Agreement, without any other or further instructions from
Pledgor, and Pledgor agrees that Company shall be fully protected in so complying. By
countersigning this Agreement, Company hereby (i) agrees to comply with any such instructions and
(ii) grants a continuing security interest in all Pledged Collateral owned by it and agrees that it
shall be deemed a “Pledgor” with respect to all such Pledged Collateral, mutatis
mutandis.

6. SECURED PARTY’S EXPENSES

Pledgor shall be liable to Secured Party for any costs and expenses (including, without
limitation, all reasonable fees and disbursements of counsel to Secured Party) incurred by Secured
Party that may arise under, out of, or in connection with, this Agreement or the Note, and any and
all sums, costs and expenses which Secured Party may pay or incur pursuant to the provisions of
this Agreement or in defending, protecting or enforcing the Liens granted herein or otherwise in
connection with the provisions hereof, in each case including without limitation (i) all search,
filing and recording fees and expenses, (ii) all fees and expenses for the service and filing of
papers, fees of marshals, sheriffs, custodians, auctioneers and others, travel expenses, court
costs and collection charges, and (iii) all fees and expenses, appraisal fees, taxes, levies and
reasonable attorneys’ and accountants’ fees and expenses (x) in connection with the repossession,
holding, preparation for sale and sale of the Pledged Collateral, (y) with respect to, or resulting
from any delay in paying, any and all excise, sales or other taxes which may be payable or
determined to be payable with respect to any of the Pledged Collateral, or (z) with respect to, or
resulting from, any delay in complying with any requirement of Law applicable to any of the Pledged
Collateral; and all such liabilities shall be part of Pledgor’s obligations.

7. MISCELLANEOUS

(a) Powers Coupled with an Interest. All authorizations and agencies herein contained
with respect to the Pledged Collateral are irrevocable and powers coupled with an interest.

(b) Limitation on Duties Regarding Preservation of Pledged Collateral. Secured
Party’s sole duty with respect to the custody, safekeeping and physical preservation of the Pledged
Collateral in its possession, under the UCC or otherwise, shall be to deal with it in the same
manner as Secured Party deals with similar Property for its own account. Neither Secured Party,
nor any of its respective directors, officers, employees or agents shall be liable for failure to
demand, collect or realize upon all or any part of the Pledged Collateral or for any delay in doing
so or shall be under any obligation to sell or otherwise dispose of any Pledged Collateral upon the
request of Pledgor or otherwise.

(c) Payment of Dollars. Pledgor shall make any payment required to be made hereunder
in lawful money of the United States of America and in immediately available funds to Secured
Party.

(d) Amendments and Waivers; Remedies Cumulative. Any provision of this Agreement may
be amended or modified only by an instrument in writing signed by Pledgor and Secured Party. No
provision of this Agreement may be waived unless by an express writing signed by the party making
such waiver. No failure on the part of Secured Party to exercise, and no delay in exercising, any
right hereunder shall operate as a waiver thereof or preclude any other or further exercise thereof
or the exercise of any other right. All remedies set forth in this Agreement, the Note and the
Purchase Agreement, or provided at law or in equity, are cumulative.

(e) Survival. The obligations of Pledgor under Article 6 shall survive the
termination of this Agreement.

(f) Assignment. This Agreement shall be binding upon, and shall inure to the benefit
of, Pledgor, Company, Secured Party and their respective successors and assigns. Neither Pledgor
nor Company may assign or transfer any of its rights or obligations hereunder without the prior
written consent of Secured Party (and any such assignment or transfer without such consent shall be
null and void). Without limiting the generality of the foregoing, Secured Party may assign or
transfer all or any portion of its rights and obligations under this Agreement and/or the Note to
any other Person, and such other Person shall thereupon become vested with all of the rights and
obligations in respect thereof granted to Secured Party herein.

(g) Notices. All notices and other communications given to or made upon any party
hereto in connection with this Agreement shall, except as otherwise expressly herein provided, be
in writing (including telecopy, but in such case, a confirming copy will be sent by another
permitted means) and delivered by (i) nationally recognized overnight delivery service, postage or
delivery charges prepaid, (ii) registered or certified mail, return receipt requested, postage
charges prepaid, or (iii) facsimile, to the respective parties, as follows:

to Pledgor or Company:

Warp Technology Holdings, Inc.

151 Railroad Avenue

Greenwich, CT 06830

Attn: Ernest Mysogland

Facsimile No.: (203) 422-5329

with a copy to:

Klehr, Harrison, Harvey, Branzburg & Ellers, LLP

260 S. Broad Street

Philadelphia, PA 19102

Attn: Barry Siegel, Esquire

Facsimile No.: (215) 568-6603

to Secured Party:

Bristol Technology, Inc.

39 Old Ridgebury Road

Danbury, CT 06810

Attn: Keith Blackwell

Facsimile No.:      

With a copy to:

Edwards & Angell, LLP

Three Stamford Plaza

301 Tresser Blvd.

Stamford, CT 06901

Attn: Vincent M. Kiernan

Facsimile No: (203) 975-7180

or in accordance with any subsequent written direction from the recipient party to the sending
party in accordance with this section. All such notices and other communications shall, except as
otherwise expressly herein provided, be effective upon delivery if delivered by courier or
overnight parcel express service; in the case of certified or registered mail, three (3) business
days after the date sent; or in the case of telecopy, when received.

(h) Headings. The headings and captions hereunder are for convenience only and shall
not affect the interpretation or construction of this Agreement.

(i) Severability. Whenever possible, each provision of this Agreement shall be
interpreted in such manner as to be effective and valid under applicable law, but if any provision
of this Agreement is held to be prohibited by or invalid under applicable law in any jurisdiction,
such provision shall be ineffective only to the extent of such prohibition or invalidity, without
invalidating any other provision of this Agreement.

(j) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF CONNECTICUT, WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES.

(k) Jurisdiction, Consent to Service of Process. EACH OF PLEDGOR AND COMPANY HEREBY
IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR THEMSELVES AND THEIR PROPERTY, TO THE NONEXCLUSIVE
JURISDICTION OF ANY CONNECTICUT STATE COURT OR FEDERAL COURT OF THE UNITED STATES OF AMERICA
SITTING IN THE STATE OF CONNECTICUT, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR
PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE NOTE OR THE PURCHASE AGREEMENT, OR FOR
RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY AND
UNCONDITIONALLY AGREES THAT, TO THE EXTENT PERMITTED BY APPLICABLE LAW, ALL CLAIMS IN RESPECT OF
ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH STATE OR, TO THE EXTENT PERMITTED
BY LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH
ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE
JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT SHALL AFFECT ANY RIGHT
THAT SECURED PARTY MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT
OR ANY OTHER PURCHASE DOCUMENT AGAINST THE PLEDGORS OR THEIR PROPERTIES IN THE COURTS OF ANY
JURISDICTION.

EACH OF PLEDGOR AND COMPANY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE, TO THE FULLEST
EXTENT THEY MAY LEGALLY AND EFFECTIVELY DO SO, ANY OBJECTION THAT THEY MAY NOW OR HEREAFTER HAVE TO
THE LAYING OF VENUE OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT,
THE NOTE OR THE PURCHASE AGREEMENT IN ANY SUCH STATE OR FEDERAL COURT. EACH OF THE PARTIES HERETO
HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, THE DEFENSE OF AN INCONVENIENT
FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.

EACH PARTY TO THIS AGREEMENT IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED
FOR NOTICES IN SECTION 7.7 HEREOF. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY TO
THIS AGREEMENT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW.

(l) Jury Trial Waiver. EACH OF PLEDGOR AND COMPANY HEREBY IRREVOCABLY WAIVES ANY
RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING (i) TO ENFORCE OR DEFEND ANY RIGHTS UNDER OR IN
CONNECTION WITH THIS AGREEMENT, OR (ii) ARISING FROM ANY DISPUTE OR CONTROVERSY IN CONNECTION WITH
OR RELATED TO THIS AGREEMENT AND AGREES THAT ANY SUCH ACTION OR COUNTERCLAIM SHALL BE TRIED BEFORE
A COURT AND NOT BEFORE A JURY.

(m) Waiver of Certain Damages. EXCEPT AS PROHIBITED BY LAW, PLEDGOR, COMPANY AND
SECURED PARTY HEREBY EACH WAIVE ANY RIGHT THEY MAY HAVE TO CLAIM OR RECOVER IN ANY LITIGATION ANY
SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES OR ANY DAMAGES OTHER THAN, OR IN ADDITION TO,
ACTUAL DAMAGES. PLEDGOR AND COMPANY EACH CERTIFY THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF
SECURED PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SECURED PARTY WOULD NOT, IN THE EVENT
OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER. THIS WAIVER CONSTITUTES A MATERIAL INDUCEMENT
FOR SECURED PARTY, COMPANY AND PLEDGOR TO ACCEPT THIS AGREEMENT AND ENTER INTO THE TRANSACTIONS
CONTEMPLATED UNDER THE PURCHASE AGREEMENT.

(n) Counterparts. This Agreement may be executed in any number of counterparts and by
either party hereto on separate counterparts, each of which, when so executed and delivered, shall
be an original, but all such counterparts shall together constitute one and the same instrument.

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

PLEDGOR:

WARP TECHNOLOGY HOLDINGS, INC.

By: /s/ Ernest Mysogland

Name: Ernest Mysogland

Title: Executive Vice President

COMPANY:

KENOSIA CORPORATION

By: /s/ Ernest Mysogland

Name: Ernest Mysogland

Title: Executive Vice President

SECURED PARTY:

BRISTOL TECHNOLOGY, INC.

By: /s/ Keith Blackwell

Name: Keith Blackwell

Title: President

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