Document:

EXHIBIT
        10.4.13

       

      EMPLOYMENT
        AGREEMENT WITH

       

      DAVID
        M. ZINN, CPA

       

       

      This
        Employment Agreement (“Agreement”) is entered into as of the 15th day of May,
        2006 (the “Effective Date”), by and between David
        M. Zinn, CPA
        (the
“Executive”)
        and
Inyx,
        Inc.
        (the
“Company”
or
        the
“Employer”),
        or
        together the Parties.

       

      RECITALS:

       

      Whereas,
        the Company desires to employ the Executive to provide personal services
        to the
        Company, and also wishes to provide the Executive with certain compensation
        and
        benefits in return for such services; and

       

      Whereas,
        the Executive wishes to be employed by the Company and provide personal services
        to the Company in return for certain compensation and benefits.

       

      Now,
        therefore, in consideration of the mutual promises and covenants contained
        herein, it is hereby agreed by and between the Parties hereto as
        follows:

       

      1.            EMPLOYMENT

       

      1.1.           GENERAL.
        The Company hereby employs the Executive in the senior position of Vice
        President, Finance of Inyx, Inc., whose responsibilities include assisting
        in
        directing the financial management and internal controls of the Company,
        including the Company’s financial reporting requirements to the U.S. Securities
        and Exchange Commission (“SEC”), management of the Company’s commercial and
        asset-based banking relationships, strategic financial planning and financial
        systems development as well as being involved in other operations of the
        Company
        as directed by management and, whereby, the Company may assign other reasonable
        management duties to the Executive from time to time. The Executive agrees
        to
        perform and discharge such duties well and faithfully, and to be subject
        to the
        supervision and direction of Jack Kachkar, Chairman and Chief Executive Officer
        of Inyx, Inc., and Jay M. Green, Executive Vice President of Inyx, Inc.,
        or
        their designee or successor. The Executive acknowledges that this appointment
        involves the affairs of the Company and its subsidiaries not only Puerto
        Rico
        and the continental United States, but also in Canada and Europe. Accordingly,
        while he will be based in Miami, Florida, the Executive shall be required
        to
        regularly travel to and conduct duties across the United States, in Canada
        and
        other countries on behalf of the Company and its subsidiaries, affiliates
        and
        strategic alliances.

       

      1.2.           TIME
        DEVOTED TO POSITION.
           The Executive,
        during the Employment Term, shall devote his full business time, attention
        and
        skills to the business and affairs of the Employer.

       

      1.3.           CERTIFICATIONS.
        Whenever the Executive is required by law, rule or regulation or requested
        by
        any governmental authority or by the Company or the Company’s auditors to
        provide certifications with respect to financial statements or filings with
        the
        SEC or any other governmental authority, the Executive shall sign such
        certifications as may be reasonably requested by such officers, with such
        exceptions as the Executive deems necessary to make such certifications accurate
        and not misleading.

       

      2.           COMPENSATION
        AND BENEFITS

       

      2.1.           SALARY.
        At all times the Executive is employed hereunder, Employer shall pay to
        Executive, and Executive shall accept, as full compensation for any and all
        services rendered and to be rendered by him during such period to Employer
        in
        all capacities, including, but not limited to, all services that may be rendered
        by him to any of Employer’s existing subsidiaries, entities and organizations
        hereafter formed, organized or acquired by Employer, directly or indirectly
        (each, a “Subsidiary” and collectively, the “Subsidiaries”), the following:
        (i) a base salary at the annual rate of $175,000, which will be increased
        to the annual rate of $200,000 on May 15, 2007; (ii) with the employment
        year
        commencing May 15, 2008, the $200,000 base salary will be raised to reflect
        the
        percentage increase in the U.S. Cost Of Living Index at that time;
        (iii) benefits set forth in Sections 2.3 hereof; and (iv) any
        additional compensation that the Employer, at its sole discretion, may award
        the
        Executive for exemplary performance. The Base Salary shall be payable in
        accordance with the regular payroll practices of Employer applicable to senior
        executives, less such deductions as shall be required to be withheld by
        applicable law and regulations or otherwise.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      2.2.           STOCK
        OPTIONS. The Executive shall be entitled to participate in stock option and
        similar equity plans of Employer. In connection herewith, the Executive will
        be
        granted a total of 300,000 options to purchase shares of common stock of
        the
        Company with an exercise price equal to the closing price of the Company’s
        common stock on May 15, 2006, with the options to be vested as follows: 150,000
        options on May 14, 2007, 75,000 options on May 14, 2008 and 75,000 options
        on
        May 14, 2009, with all options issued on terms and conditions set forth in
        the
        Stock Option Plan of the Company and a Stock Option Agreement with the Executive
        containing these terms. The Executive shall be entitled to any additional
        annual
        stock option grants provided at the discretion of the Board.

       

      2.3.           EXECUTIVE
        BENEFITS

       

      2.3.1.           EXPENSES.
        Employer shall promptly reimburse the Executive for properly documented expenses
        that he may reasonably incur in connection with the performance of his duties
        including but not limited to, expenses for such items as business entertainment,
        business travel, hotel and meals that are in accordance with Company policy.
        The
        Company shall pay the Executive a monthly car allowance of $600. The Company
        shall also provide the Executive with a Blackberry cell phone and lap-top
        computer for Company-related use. The Company shall also reimburse the Executive
        for expenses such as Certified Public Accountant licensing and association
        membership, continuing education requirements and educational seminars necessary
        to meet the requirements of his position with Employer, provided such expenses
        are pre-approved by the Company and shall not exceed $5,000 in any twelve
        (12)
        month period. Executive shall be entitled to fly business class when traveling
        on the Company’s business on air flights of four (4) hours or longer, one
        way.

       

      2.3.2.           EMPLOYER
        PLANS. Executive shall be entitled to participate in such employee benefit
        plans
        and programs as Employer may from time to time generally offer or provide
        to
        executive officers of Employer or its Subsidiaries, including, but not limited
        to, participation in health and accident, medical and dental plans including
        any
        such benefit plans offered by the Subsidiaries where applicable, and profit
        sharing and retirement plans. 

       

      2.3.3.           VACATION.
        The Executive shall be entitled to one week paid vacation that can be taken
        during the period of August 20 - 31, 2006, and two weeks paid vacation that
        can
        be taken between November 15, 2006 and May14, 2007 as long as the vacation
        time
        desired by the Executive is approved by Messrs. Kachkar and Green; starting
        in
        the employment year commencing May 15, 2007, the Executive shall be entitled
        to
        four weeks paid vacation during each employment year.

       

      3.      
             EMPLOYMENT TERM; TERMINATION

       

      3.1.           EMPLOYMENT
        TERM. The Executive’s employment hereunder shall commence on May 15, 2006 and,
        except as otherwise provided in Section 3.2 hereof, shall continue until
        May 14, 2009 (the “Initial Term”). Thereafter, this Agreement shall
        automatically be renewed for successive one-year periods commencing on the
        15th
        day of May 2009 and of each subsequent year, unless either (i) Employer and
        Executive agree to a new Em ployment Agreement, or (ii) Executive or Employer
        shall have provided a Notice of Termination (as defined in Section 3.4.2
        hereof) in respect of its or his election not to renew the Employment Term
        (in
        accordance with Sections 3.3.2 and 3.3.3 hereof). Upon non-renewal of the
        Employment Term pursuant to this Section 3.1 or termination pursuant to
        Sections 3.2.1 through 3.2.5 hereof, inclusive, Executive shall be released
        from any duties hereunder (except as set forth in Section 4 hereof) and the
        obligations of Employer to Executive shall be as set forth in Section 3.3
        hereof only.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      3.2.           EVENTS
        OF TERMINATION. The Employment Term shall terminate upon the occurrence of
        any
        one or more of the following events:

       

      3.2.1.           DEATH.
        In the event of Executive’s death, the Employment Term shall terminate on the
        date of his death.

       

      3.2.2.           WITHOUT
        CAUSE BY EXECUTIVE. Executive may terminate the Employment Term at any time
        during such Term for any reason whatsoever by giving a Notice of Termination
        to
        Employer. The Date of Termination pursuant to this Section 3.2.2 shall be
        effective on the date given in the Notice of Termination, unless an extended
        period is agreed to by the parties.

       

      3.2.3.           DISABILITY.
        In the event of Executive’s Disability (as hereinafter defined), Employer may,
        at its option, terminate the Employment Term by giving a Notice of Termination
        to Executive. The Notice of Termination shall specify the Date of Termination,
        which date shall not be earlier than thirty (30) days after the Notice of
        Termination is given. For purposes of this Agreement, “Disability” means the
        inability of Executive for ninety (90) days in any twelve (12) month period
        to
        substantially perform his duties hereunder as a result of a physical or mental
        illness, all as determined in good faith by the Board.

       

      3.2.4.           CAUSE.
        Employer may, at its option, terminate the Employment Term for “Cause” based on
        objective factors determined in good faith by the Board of Directors as set
        forth in a Notice of Termination to Executive specifying the reasons for
        termination and the failure of the Executive to cure the same within thirty
        (30)
        days after Employer shall have given the Notice of Termination; PROVIDED,
        HOWEVER, that in the event the Board in good faith determines that the
        underlying reasons giving rise to such determination cannot be cured, then
        the
        thirty (30) day period shall not apply and the Employment Term shall terminate
        on the date the Notice of Termination is given. For purposes of this Agreement,
        “Cause” shall mean (i) Executive’s conviction of, guilty or no contest plea
        to a felony (ii) an act or omission by Executive in connection with his
        employment that constitutes fraud, criminal misconduct, breach of fiduciary
        duty, dishonesty, gross negligence, malfeasance, willful misconduct or other
        conduct that is materially harmful or detrimental to Employer; (iii) a
        material breach by Executive of this Agreement and the failure of the Executive
        to cure the same within thirty (30) days; (iv) continuing failure to
        perform such proper duties as are assigned to Executive in accordance with
        this
        Agreement and with law and good business practice, other than a failure
        resulting from a Disability; or (v) Executive is found to have been
        involved in regulatory violations, criminal misconduct, dishonesty or other
        willful misconduct while previously employed by other employers.

       

      3.2.5.           EMPLOYER
        RIGHT TO TERMINATE. Employer may terminate this agreement at the end of its
        Initial Term, provided that Employer shall pay Executive in accordance with
        payment described in Section 3.3.2 hereof. In addition, Employer may terminate
        Executive for any reason, with or without cause, prior to end of the Initial
        Term, by paying Executive the payment described in Section 3.3.2 hereof. In
        consideration of such payment, and assuming all other payments required hereby
        have been paid, Executive agrees to provide Employer a general release of
        any
        claims relating to such termination or otherwise.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      3.3.           CERTAIN
        OBLIGATIONS OF EMPLOYER FOLLOWING TERMINATION OF THE EMPLOYMENT TERM. Following
        termination of the Employment Term under the circumstances described below,
        Employer shall pay to Executive or his estate, as the case may be, the following
        compensation and provide the following benefits in full satisfaction and
        final
        settlement of any and all claims and demands that Executive now has or hereafter
        may have hereunder against Employer. In connection with Executive’s receipt of
        any or all monies and benefits to be received pursuant to this Section 3.3,
        Executive shall not have a duty to seek subsequent employment during the
        period
        in which he is receiving severance payments and the Severance Amount (as
        defined
        in Section 3.3.2 hereof) shall not be reduced solely as a result of
        Executive’s subsequent employment by an entity other than Employer.

       

      3.3.1.           FOR
        CAUSE. In the event that the Employment Term is terminated by Employer for
        Cause, Employer shall pay to Executive, in a single lump-sum, an amount equal
        to
        any unpaid but earned Base Salary through the Date of Termination. Any payment
        made in accordance with this Section 3.3.1 shall be made at a convenient
        date no later than fourteen (14) days after the termination date.

       

      3.3.2.           WITHOUT
        CAUSE BY EMPLOYER. In the event that the Employment Term is terminated by
        Employer pursuant to Section 3.2.5 hereof, it shall pay to Executive, subject
        to
        Executive’s continued compliance with the terms of Section 4 hereof, any unpaid
        but earned Base Salary through the effective Date of Termination PLUS, an
        amount
        equal to six (6) months of Base Salary in effect at such applicable time
        (the
“Severance Amount”). Additionally, any Bonuses that are due to the Executive
        shall be paid by Employer to Executive. HOWEVER, if termination of Executive
        is
        due to or after a Change of Control (as defined in Section 3.4.3 hereof)
        of the
        Employer, the Severance Amount is increased to twenty-four (24) months Base
        Salary in effect at such applicable time, and any non-vested stock options
        granted to Executive shall become fully vested at time of such termination
        date.
        Any payments made in accordance with this Section 3.3.2 shall be made in
        a
        lump-sum payment at a convenient date no later than fourteen (14) days after
        the
        effective termination date. In consideration of such payment, and assuming
        all
        other payments required hereby have been paid, Executive agrees to provide
        Employer a general release of any claims relating to such termination or
        otherwise.

       

      3.3.3.           WITHOUT
        CAUSE BY EXECUTIVE. In the event that the Employment Term is terminated by
        Executive pursuant to Section 3.2.2 hereof, Employer shall pay to Executive
        Base Salary through the effective Date of Termination. In addition, Employer
        shall pay Executive, in a single lump-sum, an amount equal to any unpaid
        but
        earned Bonuses through the effective Date of Termination.

       

      3.3.4.           DEATH
        OR
        DISABILITY.           In
        the event that the Employment Term is terminated by reason of Executive’s
        Disability pursuant to Section 3.2.3 or death pursuant to
        Section 3.2.1 hereof, Employer shall pay to Executive or his estate, in a
        single lump sum, an amount equal to any unpaid but earned Bonuses and Base
        Salary through the effective Date of Termination. 

       

      3.3.5.           POST-EMPLOYMENT
        TERM BENEFITS.           
In the event of termination for any reason, Employer shall reimburse Executive
        for any unpaid expenses pursuant to Section 2.5.1 hereof. If Employment
        Term is terminated, pursuant to Sections 3.2.3 or 3.2.5 hereof, Employer
        shall pay, on behalf of Executive, for a period equal to six (6) months from
        the
        effective Date of Termination (the “Benefits Period”), subject to Executive’s
        continued compliance with the terms of Section 4 hereof, all medical,
        dental, health and accident, and disability plans and programs other than
        stock
        options in which Executive was entitled to participate immediately prior
        to the
        effective date of termination, PROVIDED that Executive’s continued participation
        is legally possible under the general terms and provisions of such plans
        and
        programs. In the event that Executive’s participation in any such plan or
        program is barred, Employer, at its sole cost and expense shall use its
        commercially reasonable efforts to provide Executive with benefits substantially
        similar to those that Executive was entitled to receive under such plans
        and
        programs for the remainder of the Benefits Period. If Executive is terminated
        for CAUSE pursuant to Section 3.2.4 hereof, Employer shall pay for no
        additional benefits after effective date of termination.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      3.3.6.           STOCK
        OPTIONS. Executive shall be entitled to receive the Employer stock options
        set
        forth in Section 2.2 hereof and detailed in the Executive’s Stock Option
        Agreement.

       

      3.4.          DEFINITIONS.

       

      3.4.1.           “NOTICE
        OF TERMINATION” DEFINED. “Notice of Termination” means a written notice that
        indicates the specific termination provision relied upon by Employer or
        Executive and, except in the case of termination pursuant to Sections 3.2.1
        or 3.2.2 hereof, that sets forth in reasonable detail the facts and
        circumstances claimed to provide a basis for termination of the Employment
        Term
        under the termination provision so indicated.

       

      3.4.2.           
        “DATE OF TERMINATION” DEFINED. “Date of Termination” means such date as the
        Employment Term is expired if not renewed or terminated in accordance with
        Sections 3.1 or 3.2 hereof.

       

      3.4.3.           “CHANGE
        OF CONTROL” DEFINED. A “Change of Control” of Employer means (i) the approval by
        the stockholders of the Company of the sale, lease, exchange or other transfer
        (other than pursuant to internal reorganization) by the Company of all or
        substantially all of its respective assets to a single purchaser or to a
        group
        of associated purchasers; (ii) the first purchase of shares of equity securities
        of the Company pursuant to a tender offer or exchange offer (other than an
        offer
        by the Company) for at least fifty (50%) percent of the equity securities
        of the
        Company; (iii) the approval by the stockholders of the Company of an agreement
        for a merger or consolidation in which the Company shall not survive as an
        independent, publicly-owned corporation; (iv) the acquisition (including
        by
        means of a merger) by a single purchaser or a group of associated purchasers
        of
        securities of the Company from the Company or any third party representing
        fifty
        (50%) percent or more of the combined voting power of the Company’s then
        outstanding equity securities in one or a related series of transactions
        (other
        than pursuant to an internal reorganization or transfers of the Executive’s
        interests). 

       

      4.           CONFIDENTIALITY
        AND NONSOLICITATION; PROPERTY RIGHTS

       

      4.1.           
        “CONFIDENTIAL INFORMATION” DEFINED. “Confidential Information” means any and all
        information (oral or written) relating to Employer or any Subsidiary or any
        entity controlling, controlled by, or under common control with Employer
        or any
        Subsidiary or any of their respective activities, including, information
        not
        previously disclosed to the public or to the trade by the Company’s management,
        or otherwise in the public domain, with respect to the Company’s products,
        facilities, applications and methods, trade secrets and other intellectual
        property, systems, procedures, manuals, confidential reports, product price
        lists, customer lists, technical information, financial information, business
        plans, prospects or opportunities, but shall exclude any information which
        (i) is or becomes available to the public or is generally known in the
        industry or industries in which the Company operates other than as a result
        of
        disclosure by the Executive in violation of his agreements under this Section
        or
        (ii) the Executive is required to disclose under any applicable laws,
        regulations or directives of any government agency, tribunal or authority
        having
        jurisdiction in the matter or under subpoena or other process of law. The
        Executive confirms that all restrictions in this Section are reasonable and
        valid and waives all defenses to the strict enforcement thereof.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      4.2.           NON-DISCLOSURE
        OF CONFIDENTIAL INFORMATION. The Executive shall not at any time (other than
        as
        may be required or appropriate in connection with the performance by him
        of his
        duties hereunder), directly or indirectly, use, communicate, disclose or
        disseminate any Confidential Information in any manner whatsoever (except
        as may
        be required under legal process by subpoena or other court order).

       

      4.3.           CERTAIN
        ACTIVITIES. The Executive shall not, while employed by the Company and for
        a
        period of one (1) year following the Date of Termination, directly or
        indirectly, hire, offer to hire, entice away or in any other manner persuade
        or
        attempt to persuade any officer, employee, agent, lessor, lessee, licensor,
        licensee or supplier of Employer or any of its Subsidiaries to discontinue
        or
        alter his or its relationship with Employer or any of its
        Subsidiaries.

       

      4.4.           NON-COMPETITION.
        The Executive shall not, while employed by the Company and for a period of
        one
        (1) year following the Date of Termination, engage or participate, directly
        or
        indirectly (whether as an officer, director, employee, partner, consultant,
        shareholder, lender or otherwise), in any business that manufactures, markets
        or
        sells products that directly competes with any product of the Employer that
        is
        significant to the Employer’s business based on sales and/or profitability of
        any such product as of the Date of Termination. Nothing herein shall prohibit
        Executive from being a passive owner of less than 1% of any publicly-traded
        class of capital stock of any entity directly engaged in a competing
        business.

       

      4.5.           PROPERTY
        RIGHTS; ASSIGNMENT OF INVENTIONS. With respect to information, inventions
        and
        discoveries or any interest in any copyright and/or other property right
        developed, made or conceived of by Executive, either alone or with others,
        at
        any time during his employment by Employer and whether or not within working
        hours, arising out of such employment or pertinent to any field of business
        or
        research in which, during such employment, Employer is engaged or (if such
        is
        known to or ascertainable by Executive) is considering engaging, Executive
        hereby agrees:

       

      (a)           that
        all such information, inventions and discoveries or any interest in any
        copyright and/or other property right, whether or not patented or patentable,
        shall be and remain the exclusive property of the Employer;

       

      (b)           to
        disclose promptly to an authorized representative of Employer all such
        information, inventions and discoveries or any copyright and/or other property
        right and all information in Executive’s possession as to possible applications
        and uses thereof;

       

      (c)           not
        to file any patent application relating to any such invention or discovery
        except with the prior written consent of an authorized officer of Employer
        (other than Executive);

       

      (d)           that
        Executive hereby waives and releases any and all rights Executive may have
        in
        and to such information, inventions and discoveries, and hereby assigns to
        Executive and/or its nominees all of Executive’s right, title and interest in
        them, and all Executive’s right, title and interest in any patent, patent
        application, copyright or other property right based thereon. Executive hereby
        irrevocably designates and appoints Employer and each of its duly authorized
        officers and agents as his agent and attorney-in-fact to act for him and
        on his
        behalf and in his stead to execute and file any document and to do all other
        lawfully permitted acts to further the prosecution, issuance and enforcement
        of
        any such patent, patent application, copyright or other property right with
        the
        same force and effect as if executed and delivered by Executive;
        and

       

      (e)           at
        the request of Employer, and without expense to Executive, to execute such
        documents and perform such other acts as Employer deems necessary or
        appropriate, for Employer to obtain patents on such inventions in a jurisdiction
        or jurisdictions designated by Employer, and to assign to Employer or its
        designee such inventions and any and all patent applications and patents
        relating thereto.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      4.6.           INJUNCTIVE
        RELIEF. The parties hereby acknowledge and agree that (a) Employer will be
        irreparably injured in the event of a breach by Executive of any of his
        obligations under this Section 4; (b) monetary damages will not be an
        adequate remedy for any such breach; (c) Employer will be entitled to
        injunctive relief, in addition to any other remedy which it may have, in
        the
        event of any such breach; and (d) the existence of any claims that
        Executive may have against Employer, whether under this Agreement or otherwise,
        will not be a defense to the enforcement by Employer of any of its rights
        under
        this Section 4.

       

      4.7.           NON-EXCLUSIVITY
        AND SURVIVAL. The covenants of the Executive contained in this Section 4
        are in addition to, and not in lieu of, any obligations that Executive may
        have
        with respect to the subject matter hereof, whether by contract, as a matter
        of
        law or otherwise, and such covenants and their enforceability shall survive
        any
        termination of the Employment Term by either party and any investigation
        made
        with respect to the breach thereof by Employer at any time.

       

      5.           MISCELLANEOUS
        PROVISIONS.

       

      5.1.           SEVERABILITY.
        If, in any jurisdiction, any term or provision hereof is determined to be
        invalid or unenforceable, (a) the remaining terms and provisions hereof
        shall be unimpaired; (b) any such invalidity or unenforceability in any
        jurisdiction shall not invalidate or render unenforceable such provision
        in any
        other jurisdiction; and (c) the invalid or unenforceable term or provision
        shall, for purposes of such jurisdiction, be deemed replaced by a term or
        provision that is valid and enforceable and that comes closest to expressing
        the
        intention of the invalid or unenforceable term or provision.

       

      5.2.           EXECUTION
        IN COUNTERPARTS. This Agreement may be executed in one or more counterparts,
        and
        by the different parties hereto in separate counterparts, each of which shall
        be
        deemed to be an original but all of which taken together shall constitute
        one
        and the same agreement (and all signatures need not appear on any one
        counterpart), and this Agreement shall become effective when one or more
        counterparts has been signed by each of the parties hereto and delivered
        to each
        of the other parties hereto.

       

      5.3.           NOTICES.
        All notices, requests, demands and other communications hereunder shall be
        in
        writing and shall be deemed duly given upon receipt when delivered by hand,
        overnight delivery or telecopy (with confirmed delivery), or three (3) business
        days after posting, when delivered by registered or certified mail or private
        courier service, postage prepaid, return receipt requested, as
        follows:

       

      If
        to
        Employer, to:

       

      Inyx,
        Inc.

      825
        Third
        Avenue, 40th Floor

      New
        York,
        NY 10022

      Attention:
        Chairman and Chief Executive Officer

      Facsimile
        No.: 212-838-0060

       

      

      If
        to
        Executive, to:

       

      David
        M.
        Zinn, CPA 

      3010
        Willow Lane

      Hollywood,
        FL 33021

      dzinnus@yahoo.com

      

      Or
        to
        such other address(es) as a party hereto shall have designated by notice
        in
        writing to the other parties hereto.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      5.4.           AMENDMENT.
        No provision of this Agreement may be modified, amended, waived, or discharged
        in any manner except by a written instrument executed by both the Employer
        and
        the Executive.

       

      5.5.           ENTIRE
        AGREEMENT. This Agreement and, with respect to Section 3.3.6 hereof,
        Executive’s Stock Option Agreements and the governing stock option plans,
        constitute the entire agreement of the parties hereto with respect to the
        subject matter hereof, and supersede all prior agreements and understandings
        of
        the parties hereto, oral or written.

       

      5.6.           APPLICABLE
        LAW. This Agreement shall be governed by and construed in accordance with
        the
        laws of the State of New York applicable to contracts made and to be wholly
        performed therein, without regard to principles of conflicts of
        laws.

       

      5.7.           HEADINGS.
        The headings contained herein are for the sole purpose of convenience of
        reference, and shall not in any way limit or affect the meaning or
        interpretation of any of the terms or provisions of this Agreement.

       

      5.8.           BINDING
        EFFECT; SUCCESSORS AND ASSIGNS. The Executive may not delegate any of his
        duties
        or assign his rights hereunder. This Agreement shall inure to the benefit
        of,
        and be binding upon, the parties hereto and their respective heirs, legal
        representatives, successors and permitted assigns. Employer shall require
        any
        successor (whether direct or indirect and whether by purchase, merger,
        consolidation or otherwise) to all or substantially all of the business and/or
        assets of Employer, by an agreement in form and substance reasonably
        satisfactory to Executive, to expressly assume and agree to perform this
        Agreement in the same manner and to the same extent that Employer would be
        required to perform if no such succession had taken place.

       

      5.9.           WAIVER,
        ETC. The failure of either of the parties hereto to, at any time, enforce
        any of
        the provisions of this Agreement shall not be deemed or construed to be a
        waiver
        of any such provision, nor to in any way affect the validity of this Agreement
        or any provision hereof or the right of either of the parties hereto thereafter
        to enforce each and every provision of this Agreement. No waiver of any breach
        of any of the provisions of this Agreement shall be effective unless set
        forth
        in a written instrument executed by the party against whom or which enforcement
        of such waiver is sought, and no waiver of any such breach shall be construed
        or
        deemed to be a waiver of any other or subsequent breach.

       

      5.10.           CAPACITY,
        ETC. Executive and Employer hereby represent and warrant to the other that,
        as
        the case may be: (a) he or it has full power, authority and capacity to
        execute and deliver this Agreement, and to perform his or its obligations
        hereunder; (b) such execution, delivery and performance shall not (and with
        the giving of notice or lapse of time or both would not) result in the breach
        of
        any agreements or other obligations to which he or it is a party or he or
        it is
        otherwise bound; and (c) this Agreement is his or its valid and binding
        obligation in accordance with its terms.

       

      5.11.           ARBITRATION.
        Any dispute or controversy arising under or in connection with this Agreement
        shall be settled exclusively in arbitration conducted in New York, New York
        in
        accordance with the rules of the American Arbitration Association then in
        effect. Judgment may be entered on the arbitrator’s award in any court having
        jurisdiction. Punitive damages shall not be awarded. In any arbitration
        proceeding, the party determined to be the prevailing party shall be entitled
        to
        receive, in addition to any other award, its attorneys’ fees and expenses of the
        proceeding.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

       

      IN
        WITNESS WHEREOF, this Agreement has been executed and delivered by the parties
        hereto as of the date first above written.

       

      INYX,
        INC.

      By:

      

      

      /s/
        Jay M.
        Green                                                       

      Jay
        M.
        Green

      Executive
        Vice President

      

       

       

      DAVID
        M.
        ZINN, CPA

      

       

      /s/
        David M. Zinn,
        CPATHIS
      WARRANT AND THE UNDERLYING SECURITIES HAVE NOT BEEN REGISTERED UNDER THE
      SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
      ACT”). THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE
      ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO SUCH SECURITIES UNDER
      THE
      ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION
      IS NOT REQUIRED.

    

    SCIENTIGO,
      INC.

    

    WARRANT
      TO PURCHASE COMMON STOCK

    

    May
      10, 2006

    Void
      After May 10, 2008

    

    This
      Certifies That,
      for
      value received, Wilson
      Sonsini Goodrich & Rosati,
      P.C.
      or
      assigns (the “Holder”),
      is
      entitled to subscribe for and purchase at the Exercise Price (defined below)
      from Scientigo,
      Inc.,
      a
      Delaware corporation, with its principal office at 6701 Carmel Road, Suite
      205,
      Charlotte, NC 28226 (the “Company”),
      up to
      that number of Exercise Shares of the Common Stock of the Company (the
“Common
      Stock”)
      determined in accordance with the terms hereof. 

    

    1. Definitions.
      As
      used
      herein, the following terms shall have the following respective
      meanings:

    

    (a) “Exercise
      Period”
shall
      mean the period commencing with the date hereof and ending two (2) years from
      the date of this Warrant.

    

    (b) “Exercise
      Price”
shall
      mean one dollar ($1.00) per share, subject to adjustment pursuant to
      Section 4 below.

    

    (c) “Exercise
      Shares”
shall
      mean four hundred thousand (400,000) shares of Common Stock issuable upon
      exercise of this Warrant, subject to adjustment pursuant to the terms herein,
      including but not limited to adjustment pursuant to Section 4 below.

    

    (d) “Net
      Proceeds”
shall
      mean the amount received by the Holder from any sale of the Exercise Shares
      during the Exercise Period, minus any costs or expenses incurred by Holder
      in
      connection with such sale, including without limitation, the Exercise Price,
      any
      brokers’ fees, taxes or reasonable attorneys’ fees.

    

    (e) “Outstanding
      Debt”
shall
      mean $400,000 owed to Holder by the Company as of the date hereof, subject
      to
      Section 10.

    

    2. Exercise
      of Warrant. 

    

    2.1 Procedure.
      The
      rights represented by this Warrant may be exercised in whole or in part at
      any
      time during the Exercise Period, by delivery of the following to the Company
      at
      its address set forth above (or at such other address as it may designate by
      notice in writing to the Holder):

    

    (a) An
      executed Notice of Exercise in the form attached hereto;

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (b) Payment
      of the Exercise Price either (i) in cash or by check, (ii) by cancellation
      of
      indebtedness, including by agreement of Holder to agree to forgive the amount
      of
      Outstanding Debt or any portion thereof, or (iii) or in accordance with Section
      2.2 below; and

    

    (c) This
      Warrant.

    

    For
      purposes of Section 2(b)(ii), the Company and Holder agree that Holder may
      satisfy all or any portion of the Exercise Price by Holder delivering a written
      notice to the Company that, in lieu of payment of the Exercise Price in cash,
      Holder has agreed to forgive an equal dollar amount of the Outstanding Debt.
      For
      purposes of illustration, in the event Holder exercises the Warrant for 200,000
      Exercise Shares under Section 2(b)(ii), Holder may satisfy the Exercise Price
      in
      full for such Exercise Shares by delivering to the Company written notice that
      Holder agrees to forgive a portion of the Outstanding Debt in the amount of
      $200,000.

    

    Upon
      the
      exercise of the rights represented by this Warrant, a certificate or
      certificates for the Exercise Shares so purchased, registered in the name of
      the
      Holder or persons affiliated with the Holder, if the Holder so designates,
      shall
      be issued and delivered to the Holder within a reasonable time after the rights
      represented by this Warrant shall have been so exercised.

    

    The
      person in whose name any certificate or certificates for Exercise Shares are
      to
      be issued upon exercise of this Warrant shall be deemed to have become the
      holder of record of such shares on the date on which this Warrant was
      surrendered and payment of the Exercise Price was made, irrespective of the
      date
      of delivery of such certificate or certificates, except that, if the date of
      such surrender and payment is a date when the stock transfer books of the
      Company are closed, such person shall be deemed to have become the holder of
      such shares at the close of business on the next succeeding date on which the
      stock transfer books are open.

    

    2.2 Net
      Exercise.
      Notwithstanding any provisions herein to the contrary, if the fair market value
      of one share of the Company’s Common Stock is greater than the Exercise Price
      (at the date of calculation as set forth below), in lieu of exercising this
      Warrant by payment of cash, the Holder may elect to receive shares equal to
      the
      value (as determined below) of this Warrant (or the portion thereof being
      canceled) by surrender of this Warrant at the principal office of the Company
      together with the properly endorsed Notice of Exercise in which event the
      Company shall issue to the Holder a number of shares of Common Stock computed
      using the following formula:

    

    X
      =
Y
      (A-B)

                 
      A

    

    
      	
              Where 
                

            	X =	the number of shares of Common Stock
              to be
              issued to the Holder

      	 	 	 

      	 	
              Y
                =

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

            

    

    

    
      	 	
              A
                =

            	
              the
                fair market value of one share of the Company’s Common Stock (at the date
                of such calculation)

            

    

    

    
      	 	
              B
                =

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

            

    

     

    For
      purposes of the above calculation, the fair market value of one share of Common
      Stock shall mean the average of the closing bid and asked prices of Common
      Stock
      quoted in the over-the-counter market in which the Common Stock is traded or
      the
      closing price quoted on any exchange on which the Common Stock is listed,
      whichever is applicable, as published in the Western Edition of The
      Wall Street Journal
      for the
      ten (10) trading days prior to the date of determination of fair market value
      (or such shorter period of time during which such stock was traded
      over-the-counter or on such exchange). If the Common Stock is not traded on
      the
      over-the-counter market or on an exchange, the fair market value shall be the
      price per share that the Company could obtain from a willing buyer for Common
      Stock sold by the Company from authorized but unissued shares, as such price
      shall be determined in good faith by the Company’s Board of
      Directors.

    

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

    3. Covenants
      of the Company.

    

    3.1 Covenants
      as to Exercise Shares.
      The
      Company covenants and agrees that all Exercise Shares that may be issued upon
      the exercise of the rights represented by this Warrant will, upon issuance,
      be
      validly issued and outstanding, fully paid and nonassessable, and free from
      all
      taxes, liens and charges with respect to the issuance thereof. The Company
      further covenants and agrees that the Company will at all times during the
      Exercise Period, have authorized and reserved, free from preemptive rights,
      a
      sufficient number of shares of its Common Stock to provide for the exercise
      of
      the rights represented by this Warrant. If at any time during the Exercise
      Period the number of authorized but unissued shares of Common Stock shall not
      be
      sufficient to permit exercise of this Warrant, the Company will take such
      corporate action as may, in the opinion of its counsel, be necessary to increase
      its authorized but unissued shares of Common Stock to such number of shares
      as
      shall be sufficient for such purposes.

    

    3.2 No
      Impairment.
      Except
      and to the extent as waived or consented to by the Holder, the Company will
      not,
      by amendment of its Certificate of Incorporation or through any reorganization,
      transfer of assets, consolidation, merger, dissolution, issue or sale of
      securities or any other voluntary action, avoid or seek to avoid the observance
      or performance of any of the terms to be observed or performed hereunder by
      the
      Company, but will at all times in good faith assist in the carrying out of
      all
      the provisions of this Warrant and in the taking of all such action as may
      be
      necessary or appropriate in order to protect the exercise rights of the Holder
      against impairment.

    

    4. Adjustment
      of Exercise Shares and Exercise Price. 

    

    4.1 Stock
      Splits, Combinations, etc.
      In the
      event of changes in the outstanding Common Stock of the Company by reason of
      stock dividends, split-ups, recapitalizations, reclassifications, combinations
      or exchanges of shares, separations, reorganizations, liquidations, or the
      like,
      the number and class of shares available under the Warrant in the aggregate
      and
      the Exercise Price shall be correspondingly adjusted to give the Holder of
      the
      Warrant, on exercise for the same aggregate Exercise Price, the total number,
      class, and kind of shares as the Holder would have owned had the Warrant been
      exercised prior to the event and had the Holder continued to hold such shares
      until after the event requiring adjustment. The form of this Warrant need not
      be
      changed because of any adjustment in the number of Exercise Shares subject
      to
      this Warrant. The foregoing provisions of this Section 4.1 shall similarly
      apply to successive stock dividends, split-ups, recapitalizations,
      reclassifications, combinations or exchanges of shares, separations,
      reorganizations, liquidations, or the like and to the stock or securities of
      any
      other entity that are at the time receivable upon the exercise of this Warrant.
      

    

    4.2 Merger,
      Sale of Assets, etc.
      If at
      any time while this Warrant, or any portion hereof, is outstanding and unexpired
      there shall occur (i) the sale, conveyance, exchange, license or other transfer
      of all or substantially all of the intellectual property or assets of the
      Company, (ii) any acquisition of the Company by means of a consolidation, stock
      exchange, merger or other form of corporate reorganization of the Company with
      any other corporation in which the Company’s stockholders prior to the
      consolidation or merger own less than a majority of the voting securities of
      the
      surviving entity or (iii) any transaction or series of related transactions
      following which the Company’s stockholders prior to such transaction or series
      of related transactions own less than a majority of the voting securities of
      the
      Company (collectively, a “Change
      of Control”),
      this
      Warrant shall cease to represent the right to receive Exercise Shares and shall
      automatically and without further action represent the right to receive upon
      exercise of this Warrant, during the period specified herein and upon payment
      of
      the Exercise Price then in effect, the number of shares of stock or other
      securities or property offered to the Company’s holders of Common Stock in
      connection with such Change of Control that a holder of the shares deliverable
      upon exercise of this Warrant would have been entitled to receive in such Change
      of Control if this Warrant had been exercised immediately before such Change
      of
      Control, subject to further adjustment as provided in this Section 4. The
      foregoing provisions of this Section 4.2 shall similarly apply to
      successive reorganizations, consolidations, mergers, sales and transfers and
      to
      the stock or securities of any other entity that are at the time receivable
      upon
      the exercise of this Warrant. If the per share consideration payable to the
      holder hereof in connection with any such transaction is in a form other than
      cash or marketable securities, then the value of such consideration shall be
      determined in good faith by the Company’s Board of Directors. In all events,
      appropriate adjustment (as determined in good faith by the Company’s Board of
      Directors) shall be made in the application of the provisions of this Warrant
      with respect to the rights and interests of the Holder after the transaction,
      to
      the end that the provisions of this Warrant shall be applicable after that
      event, as near as reasonably may be, in relation to any shares or other property
      deliverable after that event upon exercise of this Warrant.

    

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

    5. Fractional
      Shares. No
      fractional shares shall be issued upon the exercise of this Warrant as a
      consequence of any adjustment pursuant hereto. All Exercise Shares (including
      fractions) issuable upon exercise of this Warrant may be aggregated for purposes
      of determining whether the exercise would result in the issuance of any
      fractional share. If, after aggregation, the exercise would result in the
      issuance of a fractional share, the Company shall, in lieu of issuance of any
      fractional share, pay the Holder otherwise entitled to such fraction a sum
      in
      cash equal to the product resulting from multiplying the then current fair
      market value of an Exercise Share by such fraction.

    

    6. Notice
      of Certain Events. The
      Company shall provide to the Holder at least twenty (20) business days advance
      written notice of any event that would result in an adjustment to the Exercise
      Shares or Exercise Price pursuant to Section 4 hereof. 

    

    7. No
      Stockholder Rights. This
      Warrant in and of itself shall not entitle the Holder to any voting rights
      or
      other rights as a stockholder of the Company.

    

    8. Registration
      Rights.
      

    

    8.1 Piggyback
      Registration.

    

    (a) If,
      during the three (3) year period ending May 9, 2009, the Company elects to
      file
      a registration statement under the Securities Act covering the offer and sale
      of
      any Common Stock (or equity securities converted into Common Stock) in
      connection with any public offering (each, a “Registration
      Statement”),
      the
      Company shall give written notice thereof to the Holder at least twenty (20)
      business days before filing. The Holder shall have a right to participate in
      such offering upon the giving of notice to the Company within ten (10) business
      days of receipt of notice from the Company (the “Piggyback
      Registration Right”).
      If
      the Holder notifies the Company of its intent to exercise its Piggyback
      Registration Rights, subject to 9.1(b) below, the Company shall include in
      such
      registration statement such number of Exercise Shares held by the Holder
      pursuant to the exercise of this Warrant that the Holder wishes to have included
      on such Registration Statement (the Exercise Shares eligible for such Piggyback
      Registration Rights are hereinafter referred to as “Registrable
      Securities”).
      Subject to Section 9.1(b) below, such Registrable Securities shall be included
      in the underwriting for the public offering on the same terms and conditions
      as
      the securities otherwise being sold in such offering.

    

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

    (b) If,
      in
      the opinion of the managing underwriter of such offering the inclusion of all
      of
      the shares of Registrable Securities and other Common Stock requested to be
      registered would be inappropriate, then the number of shares of Registrable
      Securities and other Common Stock to be included in the offering shall be
      reduced, with the participation in such offering to be in the following order
      of
      priority: (1) first, securities to be issued by the Company shall be included,
      and (2) second, any Registrable Securities and any other Common Stock requested
      to be included, on a pro rata basis (based upon the number of Registrable
      Securities owned by the Holder and the number of shares of Common Stock eligible
      for any registration rights held by the other holders of Common Stock requesting
      participation in the offering), shall be included.

    

    (c) The
      Company may decline to file a Registration Statement after giving notice to
      the
      Holder, or withdraw a Registration Statement after filing and after such notice,
      but prior to the effectiveness thereof, provided that such registrant shall
      promptly notify the Holder in writing of any such action and provided further
      that such registrant shall bear all reasonable expenses incurred by the Holder
      or otherwise in connection with such withdrawn Registration
      Statement.

    

    8.2 Indemnification.

    

    (a) To
      the
      extent permitted by law, the Company agrees to indemnify and hold harmless
      the
      Holder if it has included Registrable Securities in a registration statement,
      its officers, directors and agents and each person, if any, who controls such
      Holder within the meaning of Section 15 of the Securities Act or Section 20
      of
      the Securities Exchange Act of 1934, as amended (the “Exchange
      Act”),
      from
      and against any and all losses, claims, damages, liabilities and expenses
      (including reasonable attorneys’ fees and costs of investigation) arising out of
      or based upon any untrue statement or alleged untrue statement of a material
      fact contained in any registration statement or final prospectus relating to
      the
      Registrable Securities or in any amendment or supplement thereto or in any
      preliminary prospectus, or arising out of or based upon any omission or alleged
      omission to state therein a material fact required to be stated therein or
      necessary to make the statements therein not misleading, except insofar as
      such
      losses, claims, damages, liabilities or expenses arise out of, or are based
      upon, any such untrue statement or omission based upon information furnished
      in
      writing to Company by the Holder or on the Holder's behalf expressly for use
      therein. The Company also agrees to indemnify any underwriters of the
      Registrable Securities, their officers and directors and each person who
      controls such underwriters on substantially the same basis as that of the
      indemnification of the Holder provided in this Section 9.2.

    

    (b) To
      the
      extent permitted by law, the Holder, to the extent it is selling Registrable
      Securities, agrees to indemnify and hold harmless the Company, its directors
      and
      officers and each Person, if any, who controls the Company within the meaning
      of
      either Section 15 of the Securities Act or Section 20 of the Exchange Act to
      the
      same extent as the foregoing indemnity from the Company to the Holder, but
      only
      with respect to, and to the extent that, information furnished in writing by
      the
      Holder or on the Holder’s behalf expressly for use in any registration statement
      or final prospectus relating to the Registrable Securities (or any amendment
      or
      supplement thereto, or any preliminary prospectus) that contained an untrue
      statement or alleged untrue statement of a material fact or omitted or allegedly
      omitted to state therein a material fact required to be stated therein or
      necessary to make the statements therein not misleading. Notwithstanding
      anything to the contrary contained herein, the liability of the Holder hereunder
      shall be limited to the proportion of any such loss, claim, damage, liability
      or
      expense that is equal to the proportion that the public offering price of the
      shares of Registrable Securities sold by the Holder bears to the total public
      offering price of all securities sold in such offering. The Holder also agrees
      to indemnify and hold harmless the underwriters on substantially the same basis
      of that of the indemnification of the Company provided in the preceding
      subsection.

    

    
      
         

      

      
        -5-

        
          

        

      

      
         

      

    

    8.3 Contribution.
      If the
      indemnification provided for in this Section 9 is unavailable to the Company,
      the Holder or the underwriters in respect of any losses, claims, damages,
      liabilities, expenses or judgments referred to herein, then each such
      indemnifying party, in lieu of indemnifying such indemnified party, shall
      contribute to the amount paid or payable by such indemnified party as a result
      of such losses, claims, damages, liabilities, expenses and judgments (i) as
      between the Company and the Holder on the one hand and the underwriters on
      the
      other, in such proportion as is appropriate to reflect the relative benefits
      received by the Company and the Holder on the one hand and the underwriters
      on
      the other from the offering of the Registrable Securities, or if such allocation
      is not permitted by applicable law, in such proportion as is appropriate to
      reflect not only such relative benefits but also the relative fault of the
      Company and the Holder on the one hand and of the underwriters on the other
      in
      connection with the statements or omissions which resulted in such losses,
      claims, damages, liabilities, expenses or judgments, as well as any other
      relevant equitable considerations and (ii) as between the Company on the one
      hand and the Holder on the other, in such proportion as is appropriate to
      reflect the relative fault of the Company and of the Holder in connection with
      such statements or omissions, as well as any other relevant equitable
      considerations. The relative benefits received by the Company and the Holder
      on
      the one hand and the underwriters on the other shall be deemed to be in the
      same
      proportion as the total proceeds from the offering (net of underwriting
      discounts and commissions but before deducting expenses) received by the Company
      and the Holder bear to the total underwriting discounts and commissions received
      by the underwriters, in each case as set forth in the table on the cover page
      of
      the prospectus. The relative fault of the Company on the one hand and of the
      Holder on the other shall be determined by reference to, among other things,
      whether the untrue or alleged untrue statement of a material fact or the
      omission or alleged omission to state a material fact relates to information
      supplied by such party, and the party’s relative intent, knowledge, access to
      information and opportunity to correct or prevent such statement or omission.
      The Company and the Holder agree that it would not be just and equitable if
      contribution pursuant to this section were determined by pro rata allocation
      or
      by any other method of allocation that does not take account of the equitable
      considerations referred to in the immediately preceding paragraph. The amount
      paid or payable by an indemnified party as a result of the losses, claims,
      damages, liabilities, expenses or judgments referred to in the immediately
      preceding paragraph shall be deemed to include, subject to the limitations
      set
      forth above, any legal or other expenses reasonably incurred by such indemnified
      party in connection with investigating or defending any such action or claim.
      Notwithstanding the provisions of this section, no underwriter shall be required
      to contribute any amount in excess of the amount by which the total price at
      which the Registrable Securities underwritten by it and distributed to the
      public were offered to the public exceeds the amount of any damages that such
      underwriter has otherwise been required to pay by reason of such untrue or
      alleged untrue statement or omission or alleged omission, and the Holder shall
      not be required to contribute any amount in excess of the amount by which the
      total price at which the Registrable Securities of the Holder were offered
      to
      the public exceeds the amount of any damages that the Holder has otherwise
      been
      required to pay by reason of such untrue or alleged untrue statement or omission
      or alleged omission. No person guilty of fraudulent misrepresentation (within
      the meaning of Section 11(f) of the Securities Act) shall be entitled to
      contribution from any person who was not guilty of such fraudulent
      misrepresentation.

    

    8.4 Registration
      Expenses and Enforcement.

    

    (a) The
      Company shall bear all expenses incurred in connection with Piggyback
      Registration Rights. The Company shall pay its internal expenses (including,
      without limitation, all salaries and expenses of its officers and employees
      performing legal or accounting duties), the expense of any annual audit, the
      fees and expenses incurred in connection with any listing of the securities
      to
      be registered on a securities exchange, and the fees and expenses of any person,
      including special experts, retained by the Company.

    

    
      
         

      

      
        -6-

        
          

        

      

      
         

      

    

    (b) Notwithstanding
      anything to the contrary contained herein, the Company hereby agrees that the
      Holder shall be entitled to specific performance of the Piggyback Registration
      Rights provided hereunder, and that the Company shall pay any expenses,
      including without limitation attorneys’ fees, in connection with the enforcement
      by the Holder of such specific performance.

    

    9. Sale
      of the Exercise Shares

    

    9.1 Sales
      by Holder.
      Subject
      to any securities laws or other applicable laws, Holder shall have the right
      to
      sell the Exercise Shares to any party, at any time, in its sole discretion.
      

    

    9.2 Sales
      Initiated by JBA.
      During
      the Exercise Period, Jones, Byrd & Attkisson (“JBA”)
      shall
      assist Holder to sell all Exercise Shares to third parties on Holder’s behalf,
      subject to securities law and other reasonable restrictions. In
      the
      event that JBA identifies an opportunity for the Holder to sell any or all
      of
      the Exercise Shares to a third party, then JBA shall notify Holder in writing
      of
      the details of such sale within a reasonable time prior to the closing of such
      sale. Holder shall have the right, in its sole discretion, to participate in
      such sale.

    

    10. Outstanding
      Debt 

    

    10.1 Outstanding
      Debt.
      The
      parties agree that Company owes the Holder the Outstanding Debt for services
      rendered to Company by the Holder.

    

    10.2 Treatment
      of Outstanding Debt upon Sale of Exercise Shares. The
      parties agree that upon the sale by the Holder of any Exercise Shares during
      the
      Exercise Period pursuant to a “net exercise” under Section 2.2, the Outstanding
      Debt will be reduced by an amount equal to the Net Proceeds received by Holder
      from such sale. 

    

    11. Transfer
      of Warrant. Subject
      to applicable laws, this Warrant and all rights hereunder are transferable,
      by
      the Holder in person or by duly authorized attorney, upon delivery of this
      Warrant and the form of assignment attached hereto to any transferee designated
      by the Holder that is an affiliate of the Holder. The transferee shall sign
      an
      investment letter in form and substance satisfactory to the Company and shall
      be
      subject to all terms and conditions of this Warrant.

    

    12. Lost,
      Stolen, Mutilated or Destroyed Warrant. If
      this
      Warrant is lost, stolen, mutilated or destroyed, the Company may, on such terms
      as to indemnity or otherwise as it may reasonably impose (which shall, in the
      case of a mutilated Warrant, include the surrender thereof), issue a new Warrant
      of like denomination and tenor as the Warrant so lost, stolen, mutilated or
      destroyed. Any such new Warrant shall constitute an original contractual
      obligation of the Company, whether or not the allegedly lost, stolen, mutilated
      or destroyed Warrant shall be at any time enforceable by anyone.

    

    13. Notices,
      etc. All
      notices required or permitted hereunder shall be in writing and shall be deemed
      effectively given: (a) upon personal delivery to the party to be notified,
      (b) when sent by confirmed telex or facsimile if sent during normal
      business hours of the recipient, if not, then on the next business day,
      (c) five (5) days after having been sent by registered or certified mail,
      return receipt requested, postage prepaid, or (d) one (1) day after deposit
      with a nationally recognized overnight courier, specifying next day delivery,
      with written verification of receipt. All communications shall be sent to the
      Company or to the Holder at their respective addresses set forth above or at
      such other address as the Company or the Holder may designate by ten (10) days
      advance written notice to the other parties hereto.

    

    
      
         

      

      
        -7-

        
          

        

      

      
         

      

    

    14. Acceptance.
      Receipt
      of this Warrant by the Holder shall constitute acceptance of and agreement
      to
      all of the terms and conditions contained herein.

    

    15. Governing
      Law. This
      Warrant and all rights, obligations and liabilities hereunder shall be governed
      by the laws of the State of Delaware.

    

    *     *     *     *     *     *

    

    
      
         

      

      
        -8-

        
          

        

      

      
         

      

    

    

    In
      Witness Whereof,
      the
      Company has caused this Warrant to be executed by its duly authorized officer
      as
      of _____________ ___, 2006.

     

    
      	 	
              Scientigo,
                Inc.

              

              

              By:
                __________________________________

              

              Name:
                ________________________________

              

              Title:
                _________________________________

            

    

     

     

    Agreed
      and accepted:

    

    

    Wilson
      Sonsini Goodrich & Rosati, P.C.

    

    

    

      By:
        __________________________________

      

      Name:
        ________________________________

      

      Title:
        _________________________________

    

    

    

    Jones,
      Byrd & Attkisson, Inc.

    

    

    
      By:
        __________________________________

      

      Name:
        ________________________________

      

      Title:
        _________________________________

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    NOTICE
      OF EXERCISE

    

    TO:
      Scientigo, Inc.

    

    (1) མ The
      undersigned hereby elects to purchase ________ shares of the Common Stock of
      Scientigo,
      Inc.
      (the
“Company”)
      pursuant to the terms of the attached Warrant, and tenders herewith payment
      of
      the exercise price in full, together with all applicable transfer taxes, if
      any.

    

    མ The
      undersigned hereby elects to purchase ________ shares of the Common Stock of
      Scientigo,
      Inc.
      (the
“Company”)
      pursuant to the terms of the net exercise provisions set forth in
      Section 2.1 of the attached Warrant, and shall tender payment of all
      applicable transfer taxes, if any.

    (2) Please
      issue a certificate or certificates representing said shares of Common Stock
      in
      the name of the undersigned or in such other name as is specified
      below:

    

    ________________________

    (Name)

    ________________________

    ________________________

    (Address)

    

    (3) The
      undersigned represents that (i) the undersigned is aware of the Company’s
      business affairs and financial condition and has acquired sufficient information
      about the Company to reach an informed and knowledgeable decision regarding
      its
      investment in the Company; (ii) the undersigned is experienced in making
      investments of this type and has such knowledge and background in financial
      and
      business matters that the undersigned is capable of evaluating the merits and
      risks of this investment and protecting the undersigned’s own interests; (iii)
      the undersigned understands that the shares of Common Stock issuable upon
      exercise of this Warrant have not been registered under the Securities Act
      of
      1933, as amended (the “Securities
      Act”),
      and,
      because such securities have not been registered under the Securities Act,
      they
      must be held indefinitely unless subsequently registered under the Securities
      Act or an exemption from such registration is available; (iv) the undersigned
      is
      aware that the aforesaid shares of Common Stock may not be sold pursuant to
      Rule
      144 adopted under the Securities Act unless certain conditions are met and
      until
      the undersigned has held the shares for the number of years prescribed by Rule
      144; and (v) the undersigned agrees not to make any disposition of all or any
      part of the aforesaid shares of Common Stock unless and until there is then
      in
      effect a registration statement under the Securities Act covering such proposed
      disposition and such disposition is made in accordance with said registration
      statement, or the undersigned has provided the Company with an opinion of
      counsel satisfactory to the Company, stating that such registration is not
      required.

     

    
      	
               

              ________________________________

              (Date)

            	
               

              ________________________________

              (Signature)

               

              ________________________________

              (Print
                name)

            

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    ASSIGNMENT
      FORM

    

    (To
      assign the foregoing Warrant, execute this form and supply required information.
      Do not use this form to purchase shares.)

    

    For
      Value Received,
      the
      foregoing Warrant and all rights evidenced thereby are hereby assigned
      to

    

    Name:
      

    
      
        

      

    

    (Please
      Print)

    

    Address:

    
      

    

     (Please
      Print)

    

    Dated:
      __________, 20__

    

    Holder’s

    Signature:
      __________________________________

    

    Holder’s

    Address:
      ___________________________________

    

    

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

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