Document:

EXHIBIT 10.6  

        ASSIGNMENT, ASSUMPTION, AND INDEMNITY AGREEMENT dated as of December 31, 2002 (this "Agreement"), between Kerr-McGee
Chemical Worldwide LLC, a Delaware limited liability company ("Assignor"), and Kerr-McGee Oil & Gas Corporation, a Delaware corporation ("Assignee"). 

        WHEREAS,
as a result of various mergers, acquisitions, internal asset transfers and corporate reorganizations, Assignor may have primary, secondary or residual liabilities and
obligations arising out of the oil and gas exploration, production and development business currently conducted by Assignee (the "E&P Business"); 

        WHEREAS,
Assignor desires to assign and Assignee desires to assume those liabilities and obligations that arise out of the E&P Business; and 

        WHEREAS,
in connection with the foregoing, each of Assignor and Assignee has received good and valuable consideration, the sufficiency of which is hereby acknowledged; 

        NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants and undertakings contained herein, and subject to and on the terms and conditions herein set forth, the parties
hereto agree as follows: 

        SECTION 1.    Assignment.    (a) Subject to paragraphs (b) and (c) below, Assignor hereby irrevocably
transfers, conveys, assigns and delivers to Assignee all of the obligations, liabilities and commitments of any nature, whether known or unknown, express or implied, absolute or contingent and whether
due or to become due, arising out of the E&P Business, other than those liabilities and obligations that have been assumed by another party prior to the date hereof (the obligations, liabilities and
commitments described above being hereinafter referred to, collectively, as the "Assumed Liabilities"). For the avoidance of doubt, the Assumed Liabilities shall include (i) the matters
identified on Schedule 1 hereto and (ii) all obligations, liabilities and commitments of Oryx Energy Company ("Oryx") or any of its Affiliates immediately prior to the effective time of
Oryx's merger with Kerr-McGee Corporation, which later came to be known as Kerr-McGee Operating Corporation and was subsequently merged into Assignor. For the avoidance of
doubt, it is understood and agreed that the E&P Business does not include the contract drilling business or the crude oil and associated feed stock refining and petroleum product manufacturing and
marketing businesses previously conducted by Assignor, its Affiliates or predecessors. For the avoidance of doubt, the "contract drilling business"
shall mean the contract drilling operations and activities conducted by Assignor, its Affiliates or predecessors as an offshore drilling contractor, including, without limitation, the activities of
Transworld Drilling Company, Transworld Perfuracoes Maritimas Limitada, Transworld Drilling Company (Nigeria) Limited, Transocean Drilling Company, Limited, and affiliated companies of each that
performed the services of an offshore drilling contractor. For the avoidance of doubt the "refining and petroleum product manufacturing and marketing businesses" shall include the refining,
manufacturing and marketing activities and operations conducted by Assignor, its Affiliates or predecessors, including, without limitation, Kerr-McGee Refining Corporation and affiliated
companies, Southwestern Refining Company, Inc. and affiliated companies, Triangle Refineries, Inc. and affiliated companies, Cato Oil & Grease Company and affiliated companies,
Triple S, Inc. and affiliated companies, and including, without limitation, the activities and operations conducted at the facilities known as the Dubach, Louisiana, and Calhoun, Louisiana
processing plants. In addition, Assignor hereby irrevocably transfers and assigns to Assignee all of its right, title and interest in and to and all of its obligations and liabilities under any and
all insurance policies covering the Assumed Liabilities, to the extent the asserted coverage relates to the Assumed Liabilities (the "Insurance Rights"). 

        (b)   Notwithstanding
the foregoing and except with regard to the E&P Business to the extent provided above, it is understood and agreed that Assignee has not assumed and
shall not hereby assume any obligations, liabilities or commitments of any nature of Assignor arising out of or incurred in connection with any businesses, operations, assets, or properties currently
or previously conducted or owned by Assignor, its Affiliates or predecessors (such obligations, liabilities and 

commitments, regardless of their nature, and whether known or unknown, express or implied, absolute or contingent and whether due or to become due, are hereinafter referred to as the "Retained
Liabilities"). 

        (c)   To
the extent that any of the Assumed Liabilities shall as a matter of law be incapable of being transferred, conveyed or assigned hereunder, this Agreement shall not
constitute a transfer, conveyance or assignment thereof, and to the extent that the transfer, conveyance or assignment of any Assumed Liabilities hereunder shall require the consent of any person not
a party to this Agreement or any governmental entity, this Agreement shall not constitute a transfer, conveyance or assignment of such Assumed Liabilities (unless and until such consent is obtained);  provided, however, that upon receipt of such consent with respect to such Assumed Liability this
Agreement shall automatically, and without requiring any further action of Assignor or Assignee, constitute a transfer, conveyance and assignment thereof as of the date of such receipt. Assignor
agrees to use commercially reasonable efforts to obtain promptly any such consent. 

        SECTION 2.    Assumption.    Assignee hereby accepts the transfer, conveyance, assignment and delivery of all of the
Assumed Liabilities and assumes and agrees to pay, perform and discharge the Assumed Liabilities, as and when due. In addition, Assignee hereby accepts the transfer, conveyance and assignment of the
Insurance Rights and assumes all obligations and liabilities thereunder. 

        SECTION 3.    Reciprocal Indemnification.    Assignee hereby agrees to defend, indemnify and hold Assignor and each of
its subsidiaries harmless from, against and in respect of any and all actual losses, liabilities, damages, judgments, settlements and expenses (including reasonable attorneys fees) incurred by
Assignor that relate to or arise out of the Assumed Liabilities. Assignor hereby agrees to defend, indemnify and hold each of Assignee, KM Investment Corporation, Kerr-McGee Worldwide
Corporation and Kerr-McGee Corporation and each of their respective subsidiaries (other than Assignor and its subsidiaries) harmless from, against and in respect of any and all actual
losses, liabilities, damages, judgments, settlements and expenses (including reasonable attorneys fees) incurred by Assignee that relate to or arise out of the Retained Liabilities. Each party hereto
shall give the other prompt written notice of any third party claim that may give rise to an indemnity obligation hereunder, together with the estimated amount of such claim. The indemnifying party
under this Section 3 shall have the right to assume the defense of any such third party claim by so notifying the party entitled to indemnification within 60 days of receipt of written
notice of such third party claim, unless the claim seeks injunctive relief or defenses are available to the party entitled to indemnification that are no available to the indemnifying party. 

        SECTION 4.    Effective Time.    The assignment by Assignor, and the assumption thereof by Assignee, of the
Liabilities shall be effective as of the date hereof. 

        SECTION 6.    Successors.    This agreement shall be binding upon and inure to the benefit of, the parties hereto and
their respective successors and assigns. 

        SECTION 7.    Amendment.    This Agreement may be amended, supplemented or otherwise modified only by a written
instrument executed by the parties hereto. The waiver by any party hereto of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach. 

        SECTION 8.    Governing Law.    This Agreement shall be construed and enforced in accordance with, and the rights and
obligations of the parties hereunder shall be governed by, the laws of the State of Delaware without reference to its principles of conflicts of law. 

        SECTION 9.    Severability.    If any one or more provisions contained in this Agreement, or the application of such
provision to any Assumed Liability or Retained Liability shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall
not affect any other provision hereof or the application hereof to any other Assumed Liability or Retained Liability. 

        SECTION 10.    Counterparts.    This Agreement may be executed in two counterparts, each of which shall be deemed an
original, but both of which together shall constitute one and the same instrument and shall become a binding Agreement when a counterpart has been signed by both of the parties and delivered to the
other party. 

        SECTION 11.    Definitions.    For the purposes of this Agreement, an "Affiliate" of a person means any other person
who directly or indirectly through one or more intermediaries controls, is controlled by or is under common control with such person. For the purposes of the forgoing definition, "control" means the
direct or indirect possession of the power to elect at least a majority of the Board of Directors or other governing body of such person through the ownership of voting securities, ownership of
partnership interests, by contract or otherwise or, if no such governing body exists, the direct or indirect ownership of 50% or more of the equity interest of a person. 

*
* * signature page follows * * * 

        IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their respective officers thereunto duly authorized effective as of the date first above written. 

	 	 	Kerr-McGee Chemical Worldwide LLC,

as Assignor
	

 	
 	

By:	

/s/  JOHN F. REICHENBERGER      
	 	 	 	

	 	 	Name:	John F. Reichenberger
	 	 	Title:	Vice President and Assistant Secretary
	

 	
 	

Kerr-McGee Oil & Gas Corporation,

as Assignee
	

 	
 	

By:	

/s/  GREGORY F. PILCHER      
	 	 	 	

	 	 	Name:	Gregory F. Pilcher
	 	 	Title:	Senior Vice President and Secretary

SCHEDULE 1  

Non-litigation Liabilities (parenthesis indicate common name for liability, if one exists)

	1.	 	Remediation and cleanup of former gas plant near Akron, Michigan (Akron)
	2.	 	Plug and abandon of oil and gas wells in LaFourche Parish, Louisiana (Bayou Ferblanc)
	3.	 	Site cleanup at former gas compressor station in Grant County, Oklahoma (Bennett Compressor)
	4.	 	Pipeline removal from former oil field in Bossier and Webster Parishes, Louisiana (Bodcau)
	5.	 	Remediation of former gas plant in Arcadia Parish, Louisiana (Branch)
	6.	 	Plug and abandon oil and gas wells in the Province of Alberta, Canada
	7.	 	EPA Superfund landfill and disposal of drilling mud in Casmalia, Santa Barbara County, California (Casmalia)
	8.	 	Remediation of salt water breakout at oil field in Stephens County, Texas (CBU Breakout well)
	9.	 	Remediation of oil field pits in LaFourche Parish, Louisiana (DS&B Battery)
	10.	 	Remediation of former gas plant in Scurry County, Texas (Diamond M)
	11.	 	Plug and abandon oil and gas well in LaFourche Parish, Louisiana (Dodge et al)
	12.	 	Well site cleanup near Earlsboro, Oklahoma (Earlsboro)
	13.	 	Saltwater contamination at oil and gas field near Felda, Florida (Felda)
	14.	 	Saltwater contamination at oil/gas field near Fittstown, Oklahoma (Fittstown Breakout (Mid Fitts))
	15.	 	Remediation and cleanup of former gas plant near Cushing, Oklahoma (Happy Valley)
	16.	 	Plug and abandon oil and gas well in Vermillion Parish, Louisiana (Hilda Gordon)
	17.	 	Remediation of joint venture gas plant near Carlsbad, New Mexico (Indian Basin)
	18.	 	Remediation and cleanup of former gas plant near Jameson, Texas (Jameson)
	19.	 	Well site restoration near Conroe, Texas (Jones Lease)
	20.	 	Pipeyard cleanup in St. Mary Parish, Louisiana (Louisiana NORM)
	21.	 	Saltwater contamination at oil and gas field in St. Martin Parish, Louisiana (Lake LaRose)
	22.	 	Remediation of joint venture gas plant near Laverne, Oklahoma (Laverne)
	23.	 	Plug and abandon oil well in LaFourche Parish, Louisiana (Louisiana Fur)
	24.	 	Plug and abandon oil well in Hughes County, Oklahoma (Lucy #3)
	25.	 	PRP in landfill used for mud disposal near Cankton, Louisiana (Mar Disposal Project)
	26.	 	Plug and abandon oil well in Clare County, Michigan (McKenna No. 1)
	27.	 	Plug and abandon saltwater disposal well near Moore, Oklahoma (Moore Salt Water)
	28.	 	Pipeyard cleanup for joint venture in Morgan City, Louisiana (Nexen NORM)
	29.	 	EPA Superfund landfill / disposal of drilling mud in Monterey Park, Los Angeles County, California (Operating Industries Inc.)
	30.	 	Plug and abandon oil well in St. Mary Parish, Louisiana (Pelto Lake Well #6)
	31.	 	Remediation and cleanup of oil field in Los Angeles County, California (Rancho San Francisco (Newhall))
	32.	 	Oil seep (responsibility undetermined) near Ranger, Texas (Ranger)
	33.	 	Remediation and cleanup of former oil field in Santa Maria, California (Santa Maria)
	34.	 	Pipeyard cleanup in Chambers County, Texas (Seabreeze NORM)
	35.	 	Remediation and cleanup of former gas plant in Bay County, Michigan (Shepard)
	36.	 	Pipeyard and production yard cleanup in Sunray, Texas (Sunray)
	 	 	 

	37.	 	Remediation and cleanup of former gas plant in Tom Green County, Texas (Susan Peak Gas Plant)
	38.	 	Saltwater disposal well cleanup in Hughes County, Oklahoma (Turner #1)
	39.	 	Remediation and cleanup of former gas plant near Wakita, Oklahoma (Wakita)
	40.	 	Remediation and cleanup of former gas plant in Nolan County, Texas (Westlake/Vena Madre)
	41.	 	Remediation and cleanup of former gas plant in Grant County, Oklahoma (Williams Compressor)
	42.	 	Liabilities, if any, related to gas processing plant in Gray County, Texas (Pampa)
	43.	 	Liabilities, if any, related to gas processing plant in St. Martin Parish, Louisiana (Bayou Crook Chene)
	44.	 	Liabilities, if any, related to gas processing plant in Stephens County, Oklahoma (Excel Pipeline Co.)
	45.	 	Liabilities, if any, related to gas processing plant in Hemphill County, Texas (Hobart Ranch)
	46.	 	Liabilities, if any, related to gas processing plant in Smith County, Texas (Chapel Hill)
	47.	 	Liabilities, if any, related to gas processing plant in Amite County, Mississippi (McComb)
	48.	 	Liabilities, if any, related to gas processing plant in Stephens County, Oklahoma (Marlow)
	49.	 	Liabilities, if any, related to gas processing plant in Garvin County, Oklahoma (Maysville)
	50.	 	Liabilities, if any, related to gas processing plant in Beaver County, Oklahoma (Camrick)
	51.	 	Liabilities, if any, related to gas processing plant in Fremont County, Wyoming (Beaver Creek)
	52.	 	Liabilities, if any, related to gas processing plant in Beaver County, Oklahoma (Beaver County)
	53.	 	Liabilities, if any, related to gas processing plant in Terrebonne Parish, Louisiana (Terrebonne)
	54.	 	Liabilities, if any, related to gas processing plant in Eddy County, New Mexico (Indian Basin)
	55.	 	Liabilities, if any, related to gas processing plant in Blaine County, Oklahoma (Okeene)
	56.	 	Liabilities, if any, related to gas processing plant in Santa Rosa County, Lorida (Jay)
	57.	 	Liabilities, if any, related to gas processing plant in Crockett County, Texas (Ozona)
	58.	 	Liabilities, if any, related to gas processing plant in Nueces County, Texas (Javelina)
	59.	 	Liabilities, if any, related to gas processing plant in Scurry County, Texas (Snyder)
	60.	 	Liabilities, if any, related to gas processing plant in Etter, Texas
	61.	 	Liabilities, if any, related to gas processing plant in Powell, Wyoming
	62.	 	Liabilities, if any, related to the Milfay gas processing plant
	63.	 	Liabilities, if any, related to the Boxcar Butte gas processing plant
	64.	 	Liabilities, if any, related to the Helium Plant gas processing plant
	65.	 	Liabilities, if any, related to the Nueces River gas processing plant

Litigation (Kerr-McGee Shared Services LLC Case Track numbers denoted "CT")  

	Casmalia, California Disposal Site Dispute
	

1.	
 	

Dispute between group of potentially responsible parties and insurers. Parties entered into a tolling agreement, which will expire in 2006.	
 	

CT 2000-00027
	
Louisiana NORM Cases
	

1.	
 	

Lester et al v. Exxon et al	
 	

CT 2003-00358
	2.	 	LeBoeuf et al. v. Shell et al	 	CT 2004-00591
	3.	 	Broussard et al. v. Chevron et al	 	CT 2004-00375
	4.	 	LePetit Chateau Delux v. Great Southern et al	 	CT 2004-00390
	 	 	 	 	 

	5.	 	Borchardt v. Kerr-McGee Chemical et al	 	CT 2004-00591
	6.	 	Bulliard v. Kerr-McGee Chemical Worldwide LLC	 	CT 2005-00906
	7.	 	Sterling Sugars v. BP et al	 	CT 2005-00048
	
Oklahoma Corporation Commission
	

1.	
 	

Proceeding in Laverne, Oklahoma	
 	

CT NL-99-027
	2.	 	Proceeding in Grant County, Oklahoma re: Wakita Gas Plant	 	CT NL-99-025
	
Rancho San Francisco (Newhall
	

1.	
 	

Newhall Land and Farming v. Kerr-McGee et al	
 	

CT 2001-00083
	
Santa Maria, California Disputes
	

1.	
 	

Aiken v. Unocal Corp. et al	
 	

CT 2004-00646
	2.	 	Glenn v. Kerr-McGee Operating Corp. (Notice to file suit under RCRA)	 	CT 2004-00835
	3.	 	Irion v. Unocal Corp. et al	 	CT 2004-00648
	4.	 	King v. Unocal et al	 	CT 2005-00124
	5.	 	Nelson v. Unocal Corp. et al	 	CT 2004-00941
	6.	 	Poythress v. Unocal Corp. et al	 	CT 2004-00645
	7.	 	Rombouts v. Unocal Corp et al	 	CT 2005-00123
	8.	 	Segura v. Unocal Corp. et al	 	CT 2004-00647
	9.	 	Story v. Unocal Corp. et al	 	CT 2004-00644
	10.	 	Voelker v. Unocal Corp. et al	 	CT 2004-00643EXHIBIT 4.1
                                                                     -----------

THE WARRANT EVIDENCED HEREBY, AND THE SECURITIES ISSUABLE HEREUNDER, HAVE BEEN
AND SHALL BE ISSUED WITHOUT REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR THE APPLICABLE STATE SECURITY LAWS. THE WARRANT AND SUCH SECURITIES
HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE,
AND SHALL NOT BE SOLD, TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS THE PROPOSED
DISPOSITION IS THE SUBJECT OF A CURRENTLY EFFECTIVE REGISTRATION STATEMENT UNDER
SAID ACT AND UNDER APPLICABLE STATE SECURITIES LAWS OR UNLESS THE COMPANY HAS
RECEIVED AN OPINION OF COUNSEL, IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO
THE COMPANY, TO THE EFFECT THAT SUCH REGISTRATION IS NOT REQUIRED UNDER SAID ACT
AND SUCH STATE SECURITIES LAWS IN CONNECTION WITH SUCH DISPOSITION.

                              GLOBAL MATRECHS, INC.

                          COMMON STOCK PURCHASE WARRANT

                     Original Issue Date: September 14, 2005
                         Void After: September 14, 2010

                            This Warrant is Issued to
                                   MACNAB LLC

(hereinafter called the "Holder," which term shall include the Holder's legal
representatives, heirs, successors and assigns) by Global Matrechs, Inc., a
Delaware corporation (hereinafter referred to as the "Company"). This Warrant
may be transferred by the Holder only in accordance with the provisions of
Section 12.

     1. Exercise of Warrant. For value received and subject to the terms and
conditions hereinafter set forth, the Holder is entitled, upon surrender of this
Warrant at any time on or after September 14, 2005 and on or prior to September
14, 2010 (the "Exercise Date") (with the subscription form annexed hereto (the
"Subscription Form") duly executed) at the office of the Company at 90 Grove
Street, Suite 201, Ridgefield, Connecticut 06877, or such other office in the
United States of which the Company shall notify the Holder hereof in writing, to
purchase from the Company, at the purchase price hereinafter specified (as
adjusted from time to time, the "Exercise Price"), 4,000,000 shares (the
"Warrant Shares") (as adjusted from time to time) of the Common Stock, $0.0001
par value per share, of the Company (the "Common Stock"). The initial Exercise
Price shall be $0.025 per share.

     2. Issuance of Stock Certificates. As promptly as practicable after
surrender of this Warrant and receipt of payment of the Exercise Price, the
Company shall issue and deliver to the Holder a certificate or certificates for
the shares purchased hereunder, in certificates of such denominations and in
such names as the Holder may specify.

<PAGE>

     3. Payment of Exercise Price. Payment of the Exercise Price shall be made
by check made payable to the order of the Company or wire transfer of funds to a
bank account designated by the Company.

     4. Cashless Exercise. The Holder may notify the Company in a Subscription
Form of its election to utilize cashless exercise, in which event the Company
shall issue to the Holder the number of Warrant Shares determined as follows:

                    X = Y [(A-B)/A]

           where:

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

                    Y = the number of Warrant Shares with
                    respect to which this Warrant is being
                    exercised.

                    A = the average of the closing prices for
                    the five trading days immediately prior to
                    (but not including) the Exercise Date.

                    B = the Exercise Price.

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

     5. Limitation on Exercise. Notwithstanding anything to the contrary
contained herein, the number of Warrant Shares that may be acquired by the
Holder upon any exercise of this Warrant (or otherwise in respect hereof) shall
be limited to the extent necessary to insure that, following such exercise (or
other issuance), the total number of shares of Common Stock then beneficially
owned by such Holder and its affiliates and any other persons whose beneficial
ownership of Common Stock would be aggregated with the Holder's for purposes of
Section 13(d) of the Exchange Act, does not exceed 4.999% of the total number of
issued and outstanding shares of Common Stock (including for such purpose the
shares of Common Stock issuable upon such exercise). For such purposes,
beneficial ownership shall be determined in accordance with Section 13(d) of the
Exchange Act and the rules and regulations promulgated thereunder.

     6. Adjustment for Dividends, Distributions, Subdivisions, Combinations,
Mergers, Consolidations or Sale of Assets.

          6.1 Manner of Adjustment.

               (a) Stock Dividends, Distributions or Subdivisions. In the event
the Company shall issue shares of Common Stock in a stock dividend, stock
distribution or subdivision, the Exercise Price in effect immediately before
such stock dividend, stock distribution or subdivision shall, concurrently with
the effectiveness of such stock dividend,

                                        2
<PAGE>

stock distribution or subdivision, be proportionately decreased and the number
of shares of Common Stock purchasable by exercise of this Warrant shall be
proportionately increased.

               (b) Combinations or Consolidations. In the event the outstanding
shares of Common Stock shall be combined or consolidated, by reclassification or
otherwise, into a lesser number of shares of Common Stock, the Exercise Price in
effect immediately prior to such combination or consolidation shall,
concurrently with the effectiveness of such combination or consolidation, be
proportionately increased and the number of shares of Common Stock purchasable
by exercise of this Warrant shall be proportionately decreased.

               (c) Adjustment for Reclassification, Exchange or Substitution. In
the event that the class of securities issuable upon the exercise of this
Warrant shall be changed into the same or a different number of shares of any
class or classes of stock, whether by capital reorganization, reclassification
or otherwise (other than any event addressed by Sections 6.1(a), 6.1(b) or
6.1(d)), then and in each such event the Holder shall have the right thereafter
to exercise this Warrant for the kind and amount of shares of stock and other
securities and property receivable upon such reorganization, reclassification,
or other change, by holders of the number of shares of the class of securities
into which such Warrant might have been exercisable for immediately prior to
such reorganization, reclassification, or change, all subject to further
adjustment as provided herein.

               (d) Adjustment for Merger, Consolidation or Sale of Assets. In
the event that the Company shall merge or consolidate with or into another
entity or sell all or substantially all of its assets, this Warrant shall
thereafter be exercisable for the kind and amount of shares of stock or other
securities or property to which a holder of the number of shares of Common Stock
of the Company deliverable upon exercise of this Warrant would have been
entitled upon such consolidation, merger or sale; and, in such case, appropriate
adjustment (as determined in good faith by the Company's Board of Directors)
shall be made in the application of the provisions set forth in this Section 6
with respect to the rights and interest thereafter of the Holder of this
Warrant, to the end that the provisions set forth in this Section 6 shall
thereafter be applicable, as nearly as reasonably may be, in relation to any
shares of stock or other property thereafter deliverable upon the exercise of
this Warrant.

          6.2 Certificate as to Adjustments. Upon the occurrence of each
adjustment or readjustment of the Exercise Price pursuant to this Section 6, the
Company at its expense shall promptly compute such adjustment or readjustment in
accordance with the terms hereof and furnish to the Holder a certificate setting
forth such adjustment or readjustment and showing in detail the facts upon which
such adjustment or readjustment is based.

          6.3 Closing of Books. The Company shall at no time close its transfer
books against the transfer of any shares of Common Stock issued or issuable upon
the exercise of this Warrant in any manner which interferes with the timely and
proper issuance of such shares.

     7. Covenants of the Company. During the period within which the rights
represented by this Warrant may be exercised, the Company shall at all times
have authorized and reserved for the purpose of issue upon exercise of the
rights evidenced hereby, a sufficient number of shares of the class of
securities issuable upon exercise of this Warrant to provide for

<PAGE>

the exercise of such rights. All securities which may be issued upon the
exercise of the rights represented by this Warrant shall, upon issuance, be duly
authorized, validly issued, fully paid and non-assessable and free from all
taxes, liens and charges with respect to the issue thereof. Upon surrender for
exercise, this Warrant shall be canceled and shall not be reissued; provided,
however, that upon the partial exercise hereof a substitute Warrant of like
tenor and date representing the rights to subscribe for and purchase any such
unexercised portion hereof shall be issued.

     8. Voting Rights. This Warrant shall not entitle the Holder to any voting
rights or any other rights as a stockholder of the Company but upon presentation
of this Warrant with the Subscription Form duly executed and the tender of
payment of the Exercise Price at the office of the Company pursuant to the
provisions of this Warrant, the Holder shall forthwith be deemed a stockholder
of the Company in respect of the securities for which the Holder has so
subscribed and paid.

     9. No Change Necessary. The form of this Warrant need not be changed
because of any adjustment in the Exercise Price or in the number of shares
issuable upon its exercise. A Warrant issued after any adjustment or any partial
exercise or upon replacement may continue to express the same Exercise Price and
the same number of shares (appropriately reduced in the case of partial
exercise) as are stated on this Warrant as initially issued, and that Exercise
Price and that number of shares shall be considered to have been so changed as
of the close of business on the date of adjustment.

     10. Addresses for Notices. All notices, requests, consents and other
communications hereunder shall be in writing, either delivered in hand or mailed
by registered or certified mail, return receipt requested, or sent by facsimile,
and shall be deemed to have been duly made when delivered:

               (a) If to the Holder, to the Holder's address as shown on the
books of the Company; or

               (b) If to the Company, to the address set forth on the first page
of this Warrant.

     11. Substitution. In the case this Warrant shall be mutilated, lost, stolen
or destroyed, the Company shall issue a new Warrant of like tenor and
denomination and deliver the same (a) in exchange and substitution for and upon
surrender and cancellation of any mutilated Warrant, or (b) in lieu of any
Warrant lost, stolen or destroyed, upon receipt of evidence satisfactory to the
Company of the loss, theft, or destruction of such Warrant (including, without
limitation, a reasonably detailed affidavit with respect to the circumstances of
any loss, theft or destruction), and of indemnity (or, in the case of the
initial Holder or any other institutional holder, an indemnity agreement)
satisfactory to the Company.

     12. Transfer Restrictions. This Warrant shall not be transferable by the
Holder and shall be exercisable only by the Holder. Without the prior written
consent of the Company, the Warrant shall not be assigned, pledged or
hypothecated in any way (whether by operation of law or otherwise) and shall not
be subject to execution, attachment or similar process. Any

                                        4
<PAGE>

attempted transfer, assignment, pledge, hypothecation or other disposition of
the Warrant or of any rights granted hereunder contrary to the provisions of
this Section 12, or the levy of any attachment or similar process upon the
Warrant or such rights, shall be null and void.

     13. Taxes. The Company makes no representation about tax treatment to the
Holder with respect to receipt or exercise of the Warrant or acquiring, holding
or disposing of the Common Stock, and the Holder represents that the Holder has
had the opportunity to discuss such treatment with the Holder's tax advisers.

     14. Remedies. Each party stipulates that the remedies at law in the event
of any default or threatened default by the other party in the performance or
compliance with any of the terms of this Warrant are and shall not be adequate,
and that such terms may be specifically enforced by a decree for that specific
performance of any agreement contained herein or by an injunction against a
violation of any of the terms hereof or otherwise.

     15. Governing Law. This Warrant shall be construed and enforced in
accordance with, and governed by, the laws of the State of New York without
regard to its principles of conflicts of laws.

     16. Miscellaneous. This Warrant and any term hereof may be changed, waived,
discharged or terminated only by an instrument in writing signed by the Holder
and the Company.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                        5
<PAGE>

                                                   COMMON STOCK PURCHASE WARRANT

                                      * * *

     IN WITNESS WHEREOF, the parties have caused this Warrant to be executed
this 14 th day of September, 2005.

                                                 GLOBAL MATRECHS, INC.

                                                 By: /s/ Michael Sheppard
                                                     ------------------------
                                                 Name: Michael Sheppard
                                                 Title: President

<PAGE>

                                SUBSCRIPTION FORM

                          (TO BE EXECUTED BY THE HOLDER
                        IN ORDER TO EXERCISE THE WARRANT)

                                                             Date:  ___________

To:  Global Matrechs, Inc.
     90 Grove Street, Suite 201
     Ridgefield, CT  06877

     The undersigned, pursuant to the provisions set forth in the attached
Warrant hereby irrevocably elects to purchase _____ shares of the Common Stock
(the "Common Stock") covered by such Warrant and herewith makes payment of
$_________, representing the [full/partial] purchase price for such shares at
the price per share provided for in such Warrant.

     The undersigned hereby agrees to take such other action and execute and
deliver such other documents as Global Matrechs, Inc. may require, in connection
with the issue of shares of Common Stock to the undersigned as aforesaid, in
order to comply with the provisions of such Warrant.

     The undersigned is aware that the Common Stock has not been registered
under the Securities Act of 1933, as amended (the "Act") or any state securities
laws. The undersigned understands that the reliance by the Company on exemptions
under the Act is predicated in part upon the truth and accuracy of the
statements of the undersigned in this Subscription Form.

     The undersigned represents and warrants that (1) it has been furnished with
all information which it deems necessary to evaluate the merits and risks of the
purchase of the Common Stock; (2) it has had the opportunity to ask questions
concerning the Common Stock and the Company and all questions posed have been
answered to its satisfaction; (3) it has been given the opportunity to obtain
any additional information it deems necessary to verify the accuracy of any
information obtained concerning the Common Stock and the Company; and (4) it has
such knowledge and experience in financial and business matters that it is able
to evaluate the merits and risks of purchasing the Common Stock and to make an
informed investment decision relating thereto.

     The undersigned hereby represents and warrants that it is purchasing the
Common Stock for its own account and not with a view to the sale or distribution
of all or any part of the Common Stock.

     The undersigned understands that because the Common Stock have not been
registered under the Act, it must continue to bear the economic risk of the
investment for an indefinite time and the Common Stock cannot be sold unless the
Common Stock are subsequently registered under applicable federal and state
securities laws or an exemption from such registration is available.

     The undersigned agrees that it shall in no event sell or distribute or
otherwise dispose of all or any part of the Common Stock unless (1) there is an
effective registration statement under

<PAGE>

the Act and applicable state securities laws covering any such transaction
involving the Common Stock or (2) the Company receives an opinion of legal
counsel to the undersigned (concurred in by legal counsel for the Company)
stating that such transaction is exempt from registration or the Company
otherwise satisfies itself that such transaction is exempt from registration.

     The undersigned consents to the placing of a legend on its certificate for
the Common Stock stating that the Common Stock has not been registered and
setting forth the restriction on transfer contemplated hereby and to the placing
of a stop transfer order on the books of the Company and with any transfer
agents against the Common Stock until the Common Stock may be legally resold or
distributed without restriction.

     The undersigned has considered the Federal and state income tax
implications of the exercise of the Warrant and the purchase and subsequent sale
of the Common Stock.

                                       ---------------------------------------
                                       Signature

                                       Print name:
                                                  ----------------------------

                                       Date:
                                            ----------------------------------

                                        2

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