Document:

<PAGE>

                                                                   EXHIBIT 10.13

                                     FORM OF
                             STOCK ESCROW AGREEMENT

      STOCK ESCROW AGREEMENT, dated as of _______________ __, 2006
("Agreement"), by and among NAVITAS INTERNATIONAL CORPORATION, a Delaware
corporation ("Company"), VIVEK K. SONI, PARAG G. MEHTA, HEMANG DAVE, N.L. JAIN,
S.P. KOTHARI, MICHAEL D. MARVIN, GAURAV GUPTA, SERVJEET S. BHACHU, G.N. BAJPAI,
JULIO E. VEGA (collectively "Initial Stockholders") and CONTINENTAL STOCK
TRANSFER & TRUST COMPANY, a New York corporation ("Escrow Agent").

      WHEREAS, the Company has entered into an Underwriting Agreement, dated
________ __, 2006 ("Underwriting Agreement"), with FTN Midwest Securities Corp.,
as representative of the underwriters listed on Schedule I thereto
("Representative"), pursuant to which, among other matters, the Representative
and the underwriters have agreed, severally and not jointly, to purchase
15,000,000 units ("Units") of the Company, and up to an additional 2,250,000
Units pursuant to an over-allotment option. Each Unit consists of one share of
the Company's Common Stock, par value $.0001 per share, and two Warrants, each
Warrant to purchase one share of Common Stock, all as more fully described in
the Company's final Prospectus, dated __________ __, 2006 ("Prospectus")
comprising part of the Company's Registration Statement on Form S-1 (File No.
333-130697) as filed with the Securities and Exchange Commission pursuant to the
Securities Act of 1933, as amended ("Registration Statement"), declared
effective on ___________ __, 2006 ("Effective Date").

      WHEREAS, the Initial Stockholders have agreed as a condition of the
Underwriters' (as such term is defined in the Underwriting Agreement) obligation
to purchase the Units, to deposit all of their shares of Common Stock of the
Company, as set forth opposite their respective names in Exhibit A attached
hereto (collectively "Escrow Shares"), in escrow as hereinafter provided.

      WHEREAS, the Company and the Initial Stockholders desire that the Escrow
Agent accept the Escrow Shares, in escrow, to be held and disbursed as
hereinafter provided.

      IT IS AGREED:

      1. Appointment of Escrow Agent. The Company and the Initial Stockholders
hereby appoint the Escrow Agent to act in accordance with and subject to the
terms of this Agreement and the Escrow Agent hereby accepts such appointment and
agrees to act in accordance with and subject to such terms.

      2. Deposit of Escrow Shares. On or before the Effective Date, each of the
Initial Stockholders shall deliver to the Escrow Agent certificates representing
his respective Escrow Shares, to be held and disbursed subject to the terms and
conditions of this Agreement. Each Initial Stockholder acknowledges that the
certificate representing his Escrow Shares is legended to reflect the deposit of
such Escrow Shares under this Agreement.

      3. Disbursement of the Escrow Shares. The Escrow Agent shall hold the
Escrow Shares until the completion of a business combination as more fully
described in the Prospectus (the "Business Combination"), whereby one-quarter of
the Escrow Shares of each Initial Stockholder will be released from escrow
<PAGE>
six months after the completion of the Business Combination and one quarter of
such Escrow Shares will be released every six months thereafter, so that the
final one-quarter of the Escrow Shares of each Initial Stockholder will be
released upon the second anniversary of the completion of the Business
Combination (the "Escrow Period"). On each such date, the Escrow Agent shall,
upon written instructions from each Initial Stockholder, disburse each of the
Initial Stockholder's Escrow Shares to such Initial Stockholder; provided,
however, that in the event that the Closing Time (as defined in the Underwriting
Agreement) does not occur, then the Escrow Agent shall promptly release the
Escrow Shares to the Initial Stockholders; provided further, however, that if
the Escrow Agent is notified by the Company pursuant to Section 6.7 hereof that
the Company is being liquidated at any time during the Escrow Period, then the
Escrow Agent shall promptly destroy the certificates representing the Escrow
Shares; provided further, however, that if, after the Company consummates a
Business Combination and the Company or the surviving entity of such Business
Combination subsequently consummates a liquidation, merger, stock exchange or
other similar transaction which results in all of the stockholders of the
Company or such entity having the right to exchange their shares of Common Stock
for cash, securities or other property, then the Escrow Agent will, upon receipt
of a certificate, executed by the Chief Executive Officer or Vice-President,
Finance of the Company, in form reasonably acceptable to the Escrow Agent, that
such transaction is then being consummated, release the Escrow Shares to the
Initial Stockholders upon consummation of the transaction so that they can
similarly participate. The Escrow Agent shall have no further duties hereunder
after the disbursement or destruction of the Escrow Shares in accordance with
this Section 3.

      4. Rights of Initial Stockholders in Escrow Shares.

            4.1. Voting Rights as a Stockholder. Subject to the terms of the
      Insider Letter described in Section 4.4 hereof and except as herein
      provided, the Initial Stockholders shall retain all of their rights as
      stockholders of the Company during the Escrow Period, including, without
      limitation, the right to vote such shares.

            4.2. Dividends and Other Distributions in Respect of the Escrow
      Shares. During the Escrow Period, all dividends payable in cash with
      respect to the Escrow Shares shall be paid to the Initial Stockholders,
      but all dividends payable in stock or other non-cash property ("Non-Cash
      Dividends") shall be delivered to the Escrow Agent to hold in accordance
      with the terms hereof. As used herein, the term "Escrow Shares" shall be
      deemed to include the Non-Cash Dividends distributed thereon, if any.

            4.3. Restrictions on Transfer. During the Escrow Period, no sale,
      transfer or other disposition may be made of any or all of the Escrow
      Shares except (i) by gift to a member of Initial Stockholder's immediate
      family or to a trust, the beneficiary of which is an Initial Stockholder
      or a member of an Initial Stockholder's immediate family, (ii) by virtue
      of the laws of descent and distribution upon death of any Initial
      Stockholder, or (iii) pursuant to a qualified domestic relations order;
      provided, however, that such permissive transfers may be implemented only
      upon the respective transferee's written agreement to be bound by the
      terms and conditions of this Agreement and of the Insider Letter signed by
      the Initial Stockholder transferring the Escrow Shares. During the Escrow
      Period, the Initial Stockholders shall not pledge or grant a security
      interest in the Escrow Shares or grant a security interest in their rights
      under this Agreement.

            4.4. Insider Letters. Each of the Initial Stockholders has executed
      a letter agreement with the Company dated as indicated on Exhibit A
      hereto, and which is filed as an exhibit to the Registration Statement
      ("Insider Letter"), respecting the rights and obligations of such Initial
      Stockholder in certain events, including but not limited to the
      liquidation of the Company.

                                       2
<PAGE>
      5. Concerning the Escrow Agent.

            5.1. Good Faith Reliance. The Escrow Agent shall not be liable for
      any action taken or omitted by it in good faith and in the exercise of its
      own best judgment, and may rely conclusively and shall be protected in
      acting upon any order, notice, demand, certificate, opinion or advice of
      counsel (including counsel chosen by the Escrow Agent), statement,
      instrument, report or other paper or document (not only as to its due
      execution and the validity and effectiveness of its provisions, but also
      as to the truth and acceptability of any information therein contained)
      which is believed by the Escrow Agent to be genuine and to be signed or
      presented by the proper person or persons. The Escrow Agent shall not be
      bound by any notice or demand, or any waiver, modification, termination or
      rescission of this Agreement unless evidenced by a writing delivered to
      the Escrow Agent signed by the proper party or parties and, if the duties
      or rights of the Escrow Agent are affected, unless it shall have given its
      prior written consent thereto.

            5.2. Indemnification. The Escrow Agent shall be indemnified and held
      harmless by the Company from and against any expenses, including counsel
      fees and disbursements, or loss suffered by the Escrow Agent in connection
      with any action, suit or other proceeding involving any claim which in any
      way, directly or indirectly, arises out of or relates to this Agreement,
      the services of the Escrow Agent hereunder, or the Escrow Shares held by
      it hereunder, other than expenses or losses arising from the gross
      negligence or willful misconduct of the Escrow Agent. Promptly after the
      receipt by the Escrow Agent of notice of any demand or claim or the
      commencement of any action, suit or proceeding, the Escrow Agent shall
      notify the other parties hereto in writing. In the event of the receipt of
      such notice, the Escrow Agent, in its sole discretion, may commence an
      action in the nature of interpleader in an appropriate court to determine
      ownership or disposition of the Escrow Shares or it may deposit the Escrow
      Shares with the clerk of any appropriate court or it may retain the Escrow
      Shares pending receipt of a final, non-appealable order of a court having
      jurisdiction over all of the parties hereto directing to whom and under
      what circumstances the Escrow Shares are to be disbursed and delivered.
      The provisions of Sections 5.2 and 5.7 shall survive in the event the
      Escrow Agent resigns or is discharged pursuant to Sections 5.5 or 5.6
      below.

            5.3. Compensation. The Escrow Agent shall be entitled to reasonable
      compensation from the Company for all services rendered by it hereunder.

            5.4. Further Assurances. From time to time on and after the date
      hereof, the Company and the Initial Stockholders shall deliver or cause to
      be delivered to the Escrow Agent such further documents and instruments
      and shall do or cause to be done such further acts as the Escrow Agent
      shall reasonably request to carry out more effectively the provisions and
      purposes of this Agreement, to evidence compliance herewith or to assure
      itself that it is protected in acting hereunder.

            5.5. Resignation. The Escrow Agent may resign at any time and be
      discharged from its duties as escrow agent hereunder by its giving the
      other parties hereto written notice and such resignation shall become
      effective as hereinafter provided. Such resignation shall become effective
      at such time that the Escrow Agent shall turn over to a successor escrow
      agent appointed by the Company upon consent by the Representative with
      such consent not to be unreasonably withheld, the Escrow Shares held
      hereunder. If no new escrow agent is so appointed within the sixty (60)
      day period following the giving of such notice of resignation, the Escrow
      Agent may deposit the Escrow Shares with any court it reasonably deems
      appropriate.

                                       3
<PAGE>
            5.6. Discharge of Escrow Agent. The Escrow Agent shall resign and be
      discharged from its duties as escrow agent hereunder if so requested in
      writing at any time by the Company and a majority of the Initial
      Stockholders, jointly, provided, however, that such resignation shall
      become effective only upon acceptance of appointment by a successor escrow
      agent as provided in Section 5.5.

            5.7. Liability. Notwithstanding anything herein to the contrary, the
      Escrow Agent shall not be relieved from liability hereunder for its own
      gross negligence or its own willful misconduct.

            5.8. Trust Fund Waiver. The Escrow Agent has no right, title,
      interest, or claim of any kind ("Claim") in or to any monies in the Trust
      Account (as defined in that certain Investment Management Trust Agreement,
      dated as of the date hereof, by and between the Company and Continental
      Stock Transfer & Trust Company, as trustee of the Trust Account), and
      hereby waives any Claim it may have in the future in or to any monies in
      the Trust Account, and hereby agrees not to seek recourse, reimbursement,
      payment or satisfaction for any Claim against the Trust Account for any
      reason whatsoever.

      6. Miscellaneous.

            6.1. Governing Law. This Agreement shall for all purposes be deemed
      to be made under and shall be construed in accordance with the laws of the
      State of New York. Each of the parties hereby agrees that any action,
      proceeding or claim against it arising out of or relating in any way to
      this Agreement shall be brought and enforced in the courts of the State of
      New York or the United States District Court for the Southern District of
      New York (each, a "New York Court"), and irrevocably submits to such
      jurisdiction, which jurisdiction shall be exclusive. Each of the parties
      hereby waives any objection to such exclusive jurisdiction and that such
      courts represent an inconvenient forum. Each of N.L. Jain and G.N. Bajpai
      (the "Non-U.S. Stockholders") has appointed Servjeet S. Bhachu, in his
      capacity as General Counsel and Vice President of the Company, as their
      authorized agent (the "Authorized Agent") upon whom process may be served
      in any such action arising out of or based on this Agreement or the
      transactions contemplated hereby which may be instituted in any New York
      Court. Such appointment shall be irrevocable. The Company and the Non-U.S.
      Stockholders represent and warrant that the Authorized Agent has agreed to
      act as such agent for service of process and agrees to take any and all
      action, including the filing of any and all documents and instruments that
      may be necessary to continue such appointment in full force and effect as
      aforesaid. Service of process upon the Authorized Agent and written notice
      of such service to the Company shall be deemed, in every respect,
      effective service of process upon the respective Non-U.S. Stockholder.

            6.2. Amendment. Each of the Initial Stockholders hereby acknowledges
      that this Agreement may not be amended, changed, waived, altered or
      modified without the prior written consent of the Representative, which
      consent shall not be unreasonably withheld.

            6.3. Entire Agreement. This Agreement contains the entire agreement
      of the parties hereto with respect to the subject matter hereof and,
      except as expressly provided herein, may not be changed or modified except
      by an instrument in writing signed by the party to be charged.

            6.4. Headings. The headings contained in this Agreement are for
      reference purposes only and shall not affect in any way the meaning or
      interpretation thereof.

                                       4
<PAGE>
            6.5. Binding Effect. This Agreement shall be binding upon and inure
      to the benefit of the respective parties hereto and their legal
      representatives, successors and assigns.

            6.6. Notices. Any notice or other communication required or which
      may be given hereunder shall be in writing and either be delivered
      personally, by private national courier service, or be mailed, certified
      or registered mail, return receipt requested, postage prepaid, and shall
      be deemed given when so delivered personally or, if sent by private
      national courier service, on the next business day after delivery to the
      courier, or if mailed, two business days after the date of mailing, as
      follows:

            If to the Company, to

                Navitas International Corporation
                4 Dublin Circle
                Burlington, MA  01803
                Attn:  Servjeet S. Bhachu, General Counsel

            If to an Initial Stockholder, to his address set forth in Exhibit A.

            and if to the Escrow Agent, to:

                Continental Stock Transfer & Trust Company
                17 Battery Place
                New York, NY  10004
                Attn:  Chairman

            A copy of any notice sent hereunder shall be sent to:

                Bingham McCutchen LLP
                150 Federal Street
                Boston, MA  02110
                Attn:  Julio E. Vega, Esq.

            and:

                FTN Midwest Securities Corp.
                350 Madison Avenue
                New York, NY  10036
                Attn:  Corporate Syndicate Department

            and:

                Kelley Drye & Warren LLP
                Two Stamford Plaza
                281 Tresser Boulevard
                Stamford, CT  06901
                Attn:  Randi-Jean G. Hedin, Esq.

            The parties may change the persons and addresses to which the
      notices or other communications are to be sent by giving written notice to
      any such change in the manner provided herein for giving notice.

                                       5
<PAGE>
            6.7. Liquidation of Company. The Company shall give the Escrow Agent
      written notification of the liquidation and dissolution of the Company in
      the event that the Company fails to consummate a Business Combination
      within the time period(s) specified in the Prospectus.

                  [Remainder of Page Intentionally Left Blank]

                                       6
<PAGE>
WITNESS the execution of this Stock Escrow Agreement as of the date first above
written:

                               NAVITAS INTERNATIONAL CORPORATION

                               By:
                                    --------------------------------------------
                                      Parag G. Mehta
                                      President and Chief Executive Officer

                               CONTINENTAL STOCK TRANSFER & TRUST
                               COMPANY

                               By:
                                    --------------------------------------------
                                      Name:
                                      Title:

                               INITIAL STOCKHOLDERS:

                               -------------------------------------------------
                               Vivek K. Soni

                               -------------------------------------------------
                               Parag G. Mehta

                               -------------------------------------------------
                               Hemang Dave

                               -------------------------------------------------
                               N.L. Jain

                               -------------------------------------------------
                               S.P. Kothari

                                       7
<PAGE>
                               -------------------------------------------------
                               Michael D. Marvin

                               -------------------------------------------------
                               Gaurav Gupta

                               -------------------------------------------------
                               Servjeet S. Bhachu

                               -------------------------------------------------
                               G.N. Bajpai

                               -------------------------------------------------
                               Julio E. Vega

                                       8
<PAGE>
                                                                       EXHIBIT A

<Table>
<Caption>
NAME & ADDRESS OF                           STOCK CERTIFICATE    DATE OF INSIDER
INITIAL STOCKHOLDER    NUMBER OF SHARES         NUMBER                LETTER
<S>                    <C>                  <C>                <C>
Vivek K. Soni              906,249                             __________, 2006
One Charing Cross
Lynnfield, MA 01940

Parag G. Mehta             906,249                             __________, 2006
4 Dublin Circle
Burlington, MA 01803

Hemang Dave                187,500                             __________, 2006
52 Waltham Street
Lexington, MA 02421

N.L. Jain                  187,500                             __________, 2006
4 Dublin Circle
Burlington, MA 01803

S.P. Kothari               187,500                             __________, 2006
11 Walnut Street
Lexington, MA 02421

Michael D. Marvin          187,500                             __________, 2006
Chairman Emeritus
c/o MapInfo Corp.
One Global View
Troy, NY 12180

Gaurav Gupta               453,125                             __________, 2006
16 Ernst Road, Apt. 3
Arlington, MA 02474

Servjeet S. Bhachu         453,125                             __________, 2006
4 Regent Road
Belmont, MA 02478

G.N. Bajpai                187,500                             __________, 2006
4 Dublin Circle
Burlington, MA 01803

Julio E. Vega               93,750                             __________, 2006
150 Federal Street
Boston, MA 02110
</Table>

                                       9<PAGE>
                                                                   EXHIBIT 10.14

          [FORM OF PURCHASE OPTION TO BE ISSUED TO THE REPRESENTATIVE]

  THE HOLDER (AS DEFINED HEREIN) OF THIS PURCHASE OPTION (AS DEFINED HEREIN) BY
     ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN,
   PLEDGE, HYPOTHECATE OR OTHERWISE DISPOSE OF, EITHER DIRECTLY OR INDIRECTLY,
        THIS PURCHASE OPTION, EXCEPT AS PROVIDED IN SECTION 3.1 HEREOF.

        THIS PURCHASE OPTION IS NOT EXERCISABLE PRIOR TO THE LATER OF (I)
       THE CONSUMMATION BY THE COMPANY (AS DEFINED HEREIN) OF A BUSINESS
          COMBINATION (AS DEFINED HEREIN) AND (II) [___________], 2007.

      THIS PURCHASE OPTION SHALL TERMINATE AND BE VOID IF NOT EXERCISED IN
        ACCORDANCE WITH SECTION 2 HEREOF BY 5:00 P.M., NEW YORK TIME, ON
       [________], 2010, AND ALL RIGHTS OF THE HOLDER UNDER THIS PURCHASE
                    OPTION SHALL THEREUPON CEASE AND EXPIRE.

                              UNIT PURCHASE OPTION

                               FOR THE PURCHASE OF

                                 750,000 UNITS

                                       OF

                        NAVITAS INTERNATIONAL CORPORATION

                                   ARTICLE 1

                         PURCHASE OPTION; GENERAL TERMS.

THIS CERTIFIES THAT, in consideration of $100.00 duly paid by or on behalf of
FTN Midwest Securities Corp., as registered owner ("HOLDER" and, together with
other holders hereunder as a result of permitted transfers hereof, collectively,
"HOLDERS"), of this unit purchase option (this "PURCHASE OPTION"), to Navitas
International Corporation, a Delaware corporation (the "COMPANY"), Holder is
entitled, at any time or from time to time after the later of (i) the
consummation by the Company of a Business Combination (as defined herein) and
(ii) [____], 2007 (the "COMMENCEMENT DATE"), and at or before 5:00 p.m., New
York time, on [_______], 2010 (the "EXPIRATION DATE"), but not thereafter, to
subscribe for, purchase and receive, in whole or in part, up to an aggregate of
750,000 units (the "UNITS") of the Company, each Unit consisting of one share
of the Company's common stock, par value $.0001 per share (the "COMMON STOCK"),
and two warrants, each of which are exercisable for one share of Common Stock
(each, a "WARRANT"), expiring at 5:00 p.m., New York time, on [________], 2010,
as discussed in Section 2 hereof. The allocation of the number of the Units that
each Holder shall have the option to purchase shall be mutually agreed upon by
the Holders.

     For purposes of this Purchase Option and the exercise of any right
hereunder, the term "HOLDER" shall mean, as of any date, FTN, Canaccord Adams or
their respective successors and/or any permitted transferees in accordance with
Section 3.1 hereof that is validly holding this Purchase Option as of such

<PAGE>

date and for purpose of Section 5, FTN or its successor or any such transferee
that is holding Units issued upon exercise of this Purchase Option (or
securities underlying such Units) as of such date.

      Each Warrant shall be the same as the warrants (the "PUBLIC WARRANTS")
being sold in the public offering of the Company's units (the "OFFERING") except
that the Warrants shall have an exercise price of $6.25 per share (the "WARRANT
EXERCISE PRICE"), subject to adjustment as provided in Section 6 hereof. During
the period ending on the Expiration Date, the Company agrees not to take any
action that would terminate the Purchase Option. This Purchase Option is
initially exercisable at $7.50 per Unit so purchased; provided, however, that
upon the occurrence of any of the events specified in Section 6 hereof, the
rights granted by this Purchase Option, including the exercise price per Unit
and the number of Units (and shares of Common Stock and Warrants) to be received
upon such exercise, shall be adjusted as therein specified. The term "EXERCISE
PRICE" shall mean the initial exercise price of the Units of $7.50 per Unit, as
may be adjusted pursuant to Section 6 hereof.

      As used herein, the term "BUSINESS COMBINATION" shall mean the acquisition
by the Company, whether by merger, capital stock exchange, asset acquisition,
stock purchase or other similar type of combination, of one or more operating
businesses in India, having, collectively, a fair market value (as calculated in
accordance with the Company's Amended and Restated Certificate of
Incorporation., as amended from time to time) of at least 80% of the Company's
net assets at the time of such merger, capital stock exchange, asset acquisition
or other similar type of combination.

      As used herein, the term "BUSINESS DAY" shall mean any day, except a
Saturday, Sunday or legal holiday on which the banking institutions in the City
of New York are authorized or obligated by law or executive order to close.

                                   ARTICLE 2

                              EXERCISE; REDEMPTION

     2.1 Exercise Form. In order to exercise this Purchase Option, the exercise
form attached hereto as Exhibit A (the "EXERCISE Form") must be duly executed,
completed and delivered to the Company, together with this Purchase Option and
full payment of the aggregate Exercise Price for all the Units being purchased,
which shall be payable in cash or by certified check or official bank check
(except to the extent provided by Section 2.4 below).

     2.2 Expiration of Purchase Option. Except for the registration rights
granted pursuant to Section 5 hereof (insofar as such rights apply to the Common
Stock and Warrants included in the Units issuable upon exercise of this Purchase
Option), this Purchase Option shall terminate and be void if either a duly
executed Exercise Form or full payment of the aggregate Exercise Price relating
thereto (except to the extent provided by Section 2.4 below) is not received by
5:00 p.m., New York time, on the Expiration Date, and all rights the Holders
under this purchase option shall cease and expire. If the Expiration Date is a
day other than a Business Day, then this Purchase Option may be exercised on the
next succeeding Business Day in accordance with the terms herein.

     2.3 Legend. Each certificate for the securities purchased under this
Purchase Option shall bear a legend as follows unless such securities have been
registered under the Securities Act of 1933, as amended (the "ACT"):

     "THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
     UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT") OR

<PAGE>

     APPLICABLE STATE LAW OF ANY STATE. THE SECURITIES MAY NOT BE OFFERED FOR
     SALE, SOLD OR OTHERWISE TRANSFERRED, IN WHOLE OR IN PART, EXCEPT PURSUANT
     TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, OR PURSUANT TO AN
     EXEMPTION FROM OR IN A TRANSACTION NOT SUBJECT TO REGISTRATION REQUIREMENTS
     UNDER THE ACT AND APPLICABLE STATE LAW OF ANY STATE."

     2.4 Cashless Exercise.

         2.4.1 Determination Of Amount. In lieu of the payment of the Exercise
Price multiplied by the number of Units for which this Purchase Option is
exercisable (and in lieu of being entitled to receive Common Stock and Warrants)
in the manner required by Section 2.1, each Holder shall have the right (but not
the obligation) (the "CONVERSION RIGHT") to convert any exercisable but
unexercised portion of this Purchase Option held by such Holder into Units as
follows: upon exercise of the Conversion Right, the Company shall deliver to
such Holder (without payment by such Holder of any of the Exercise Price in
cash) that number of shares of Common Stock and Warrants comprising that number
of Units equal to the quotient obtained by dividing (x) the Value (as defined
below) of the portion of the Purchase Option being converted by (y) the Current
Market Value (as defined below). As use herein, the term "VALUE" of the portion
of the Purchase Option being converted shall equal the remainder derived from
subtracting (a) (i) the Exercise Price multiplied by (ii) the number of Units
underlying the portion of this Purchase Option being converted from (b) (i) the
Current Market Value of a Unit multiplied by (ii) the number of Units underlying
the portion of the Purchase Option being converted. As used herein, the term
"CURRENT MARKET VALUE" per Unit at any date means the remainder derived from
subtracting (x) (i) the exercise price of the Warrants multiplied by (ii) the
number of shares of Common Stock issuable upon exercise of the Warrants
underlying one Unit from (y) (i) the Current Market Price (as defined below) of
the Common Stock multiplied by (ii) the number of shares of Common Stock
underlying one Unit, which shall include the shares of Common Stock underlying
the Warrants included in such Unit. The "CURRENT MARKET PRICE" of a share of
Common Stock shall mean (i) if the Common Stock is listed on a national
securities exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap
Market, American Stock Exchange or the NASD OTC Bulletin Board (or successor
such as the Bulletin Board Exchange), the last sale price of the Common Stock in
the principal trading market for the Common Stock as reported by the exchange or
Nasdaq, as the case may be; (ii) if the Common Stock is not listed on a national
securities exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap
Market, American Stock Exchange or the NASD OTC Bulletin Board (or successor
such as the Bulletin Board Exchange), but is traded in the residual
over-the-counter market, the closing bid price for the Common Stock on the last
trading day preceding the date in question for which such quotations are
reported by the Pink Sheets, LLC or similar publisher of such quotations; and
(iii) if the fair market value of the Common Stock cannot be determined pursuant
to clause (i) or (ii) above, such price as the Board of Directors of the Company
shall determine, in good faith.

         2.4.2 Mechanics Of Cashless Exercise. The Conversion Right may be
exercised by any Holder of this Purchase Option on any business day on or after
the Commencement Date and not later than 5:00 p.m., New York time, on the
Expiration Date by delivering the Purchase Option with the duly executed
exercise form attached hereto with the cashless exercise section completed to
the Company, exercising the Conversion Right and specifying the total number of
Units such Holder will convert pursuant to such Conversion Right.

         2.4.3 Warrant Exercise. Any Warrants underlying the Units shall be
issued pursuant to and subject to the terms and conditions set forth in the
Warrant Agreement, dated as of the date hereof

<PAGE>

(the "WARRANT AGREEMENT"), between the Company and Continental Stock Transfer &
Trust Company, as Warrant Agent; provided, that the exercise price of the
Warrants shall be as set forth herein.

     2.5 Redemption. Notwithstanding anything to the contrary contained herein
or in the Warrant Agreement, if the Company shall elect to redeem all of the
Warrants, (a) this Purchase Option, if not earlier exercised in full, shall be
automatically exercised, on a cashless basis as described in Section 2.4 above,
immediately prior to the Redemption Date, as defined in the Warrant Agreement
(provided that notice is provided to the Holders on the same terms as provided
to the holders of Warrants pursuant to the Warrant Agreement), and (b) each
Warrant that is part of a Unit issued hereunder upon such automatic conversion
shall be redeemed by the Company as part of such redemption for the Redemption
Price (as defined in the Warrant Agreement).

                                    ARTICLE 3

                                    TRANSFER

     3.1 General Restrictions. Each registered Holder of this Purchase Option,
by its acceptance hereof, agrees that it will not sell, transfer, assign,
pledge, hypothecate or otherwise dispose of this Purchase Option for a period of
180 days following the Effective Date; provided, however, that such Holder may
transfer or assign this Purchase Option in whole or in part to (a) within the
initial 180-day period following the Effective Date, (i) any entity
participating as an underwriter or selected dealer in the Offering (each, an
"UNDERWRITER"), or (ii) a bona fide officer or partner of any such Underwriter
and (b) following the expiration of the initial 180-day period, to (i) any
Underwriter or a bona fide officer or partner thereof, or (ii) upon prior
written notice to the Company, (x) a subsidiary or affiliate of an Underwriter,
or (y) so long as not transferred in violation of applicable federal or state
securities laws or rules of the National Association of Securities Dealers, Inc.
(the "NASD"), any other third-party; provided, that, in each case, such entity,
subsidiary, affiliate or third party, as the case may be, shall agree to be
bound by the terms of this Section 3.1. Notwithstanding anything in this Section
3.1 to the contrary, on and after the first anniversary of the Commencement
Date, transfers to others may be made subject to compliance with or exemptions
from applicable securities laws. In order to make any permitted assignment, a
Holder must deliver to the Company the assignment form attached hereto executed
and completed, together with the Purchase Option and payment of all transfer
taxes, if any , payable in connection herewith. The Company shall within five
(5) business days transfer this Purchase Option on the books of the Company and
shall execute and deliver a new Purchase Option or Purchase Option of like tenor
to the appropriate assignee(s) expressly evidencing the right to purchase the
aggregate number of Units purchasable hereunder or such portion of such number
as shall be contemplated by any such agreement.

     3.2 Restrictions Imposed By The Act. The securities evidenced by this
Purchase Option shall not be transferred by any Holder unless and until (i) the
Company has received the opinion of counsel for such Holder that the securities
may be transferred pursuant to an exemption from registration under the Act and
applicable state securities laws, the availability of which is established to
the reasonable satisfaction of the Company, or (ii) a registration statement or
a post-effective amendment to the Company's registration statement relating to
the Offering (the "REGISTRATION STATEMENT") relating to such securities has been
filed by the Company and declared effective by the Securities and Exchange
Commission (the "SEC") and compliance with applicable state securities law has
been established to the reasonable satisfaction of the Company.

                                   ARTICLE 4

                        NEW PURCHASE OPTIONS TO BE ISSUED

<PAGE>

     4.1 Partial Exercise Or Transfer. Subject to the restrictions in Section 3
hereof, this Purchase Option may be exercised or assigned in whole or in part.
In the event of the exercise or assignment hereof in part only, upon surrender
of this Purchase Option for cancellation, together with the duly executed
exercise or assignment form and funds sufficient to pay the aggregate Exercise
Price (except to the extent provided by Section 2.4 above) and/or any transfer
tax, the Company shall cause to be delivered to the Holder without charge a new
Purchase Option of like tenor to this Purchase Option in the name of the Holder
evidencing the right of the Holder to purchase the number of Units purchasable
hereunder as to which this Purchase Option has not been, to date, previously
exercised or assigned. In addition, the Company shall cause to be delivered to
any permitted transferee without charge a new Purchase Option of like tenor to
this Purchase Option in the name of such transferee evidencing the right of such
transferee to purchase the number of Units purchasable hereunder as to which
this Purchase Option has been transferred to such transferee.

     4.2 Lost Certificate. Upon receipt by the Company of evidence satisfactory
to it of the loss, theft, destruction or mutilation of this Purchase Option and
of reasonably satisfactory indemnification or the posting of a reasonably
sufficient bond, the Company shall execute and deliver a new Purchase Option of
like tenor and date. Any such new Purchase Option executed and delivered as a
result of such loss, theft, mutilation or destruction shall constitute a
substitute contractual obligation on the part of the Company.

                                   ARTICLE 5

                               REGISTRATION RIGHTS

     5.1 Demand Registration.

         5.1.1 Grant of Right. The Company, upon written demand (the "INITIAL
DEMAND NOTICE") of the Holder(s) of at least 51% of the Purchase Options and/or
the underlying Units and/or the underlying securities then outstanding (the
"MAJORITY HOLDERS"), agrees to register on one occasion, all or any portion of
the Purchase Options requested by the Majority Holders in the Initial Demand
Notice and all of the securities underlying such Purchase Options, including the
Units, Common Stock, the Warrants and the Common Stock underlying the Warrants
(collectively, the "REGISTRABLE SECURITIES"). On such occasion, the Company will
file a registration statement or a post-effective amendment to the Registration
Statement covering the Registrable Securities within sixty days after receipt of
the Initial Demand Notice and use its best efforts to have such registration
statement or post-effective amendment declared effective as soon as possible
thereafter. The demand for registration may be made at any time during a period
of five (5) years beginning on the effective date of the Registration Statement
(the "EFFECTIVE DATE"). The Company covenants and agrees to give written notice
of its receipt of any Initial Demand Notice by any Holder(s) to all other
registered Holders of the Purchase Options and/or the Registrable Securities
within ten days from the date of the receipt of any such Initial Demand Notice.

         5.1.2 Terms. The Company shall bear all fees and expenses attendant to
registering the Registrable Securities, including the reasonable fees and
expenses of one (1) legal counsel selected by the Majority Holders to represent
them collectively in connection with the registration of the Registrable
Securities, but the Holders shall pay any and all underwriting discounts and
commissions. The Company agrees to use commercially reasonable efforts to
qualify or register the Registrable Securities in such states as are reasonably
requested by the Majority Holders; provided, however, that in no event shall the
Company be required to register the Registrable Securities in a state in which
such registration would cause (i) the Company to be obligated to qualify to do
business in such state, or would subject the

<PAGE>

Company to taxation as a foreign corporation doing business in such jurisdiction
or (ii) the principal stockholders of the Company to be obligated to escrow
their shares of capital stock of the Company (except to the extent such shares
are already subject to an escrow in such state). The Company shall cause any
registration statement or post-effective amendment filed pursuant to the demand
rights granted under Section 5.1.1 to remain effective for a period of nine
consecutive months from the effective date of such registration statement or
post-effective amendment.

     5.2 "Piggy-Back" Registration.

         5.2.1 Grant of Right. In addition to the demand right of registration,
the Holders of the Purchase Options shall have the right for a period of seven
(7) years commencing on the Effective Date to include the Registrable Securities
as part of any other registration of securities filed by the Company (other than
in connection with a transaction contemplated by Rule 145(a) promulgated under
the Act or pursuant to Form S-8); provided, however, that if, in the written
opinion of the Company's managing underwriter or underwriters, if any, for such
offering, the inclusion of the Registrable Securities, when added to the
securities being registered by the Company or the selling stockholder(s), will
exceed the maximum amount of the Company's securities which can be marketed (i)
at a price reasonable related to their then current market value, and (ii)
without materially and adversely affecting the entire offering, then the Company
will still be required to include the Registrable Securities, but may require
the Holders to agree, in writing, to delay the sale of all or any portion of the
Registrable Securities for a period of 90 days from the effective date of the
offering, provided, further, that if the sale of any Registrable Securities is
delayed, then the number of securities to be sold by all stockholders in such
public offering during such 90 day period shall be apportioned pro rata among
all such selling stockholders, including all holders of Registrable Securities,
according to the total amount of securities of the Company owned by said selling
stockholders, including all holders of the Registrable Securities.

         5.2.2 Terms. The Company shall bear all fees and expenses attendant to
registering the Registrable Securities, including the reasonable fees and
expenses of any legal counsel selected by a majority of Holders exercising
rights under this Section 5.2 to represent them collectively in connection with
the sale of the Registrable Securities but the Holders shall pay any and all
underwriting discounts and commissions related to the Registrable Securities. In
the event of such a proposed registration, the Company shall furnish the Holders
with not less than fifteen Business Days written notice prior to the proposed
date of filing of such registration statement. Such notice to the Holders shall
continue to be given for each applicable registration statement filed (during
the period for which the Purchase Option is exercisable) by the Company until
such time as all of the Registrable Securities have been registered and sold.
The Holders shall exercise the "piggy-back" rights provided for herein by giving
written notice, within ten Business Days of the receipt of the Company's notice
of its intention to file a registration statement. The Company shall cause any
registration statement filed pursuant to the above "piggy-back" rights to remain
effective for at least nine consecutive months from the date that the Holders
are first given the opportunity to sell all of such securities.

         5.2.3 Damages. Should the registration or the effectiveness thereof
required by Sections 5.1 and 5.2 hereof be delayed as a result of the Company's
failure to exercise commercially reasonable efforts to comply with such
provisions, the Company shall, in addition to any other equitable or other
relief available to the Holder(s), be liable for any and all incidental, special
and consequential damages sustained by the Holder(s), including, but not limited
to, the loss of any profits that might have been received by the Holder upon the
sale of shares of Common Stock or Warrants (and shares of Common Stock
underlying the Warrants) underlying this Purchase Option.

     5.3 General Terms.

<PAGE>

         5.3.1 Indemnification. The Company shall indemnify the Holders and each
person, if any, who controls a Holder within the meaning of Section 15 of the
Act or Section 20(a) of the Securities Exchange Act of 1934, as amended (the
"EXCHANGE ACT"), against all loss, claim, damage, expense or liability
(including all reasonable attorneys' fees and other expenses reasonably incurred
in investigating, preparing or defending against litigation, commenced or
threatened, or any claim whatsoever whether arising out of any action between
the underwriter and the Company or between the underwriter and any third party
or otherwise) to which any of them may become subject under the Act, the
Exchange Act or otherwise, arising from such registration statement but only to
the same extent and with the same effect as the provisions pursuant to which the
Company has agreed to indemnify the Underwriters contained in Section 6(a) of
the Underwriting Agreement between the Company and the Underwriters dated the
Effective Date. The Holders and their successors and assigns, shall indemnify
the Company, its officers and directors and each person, if any, who controls
the Company within the meaning of Section 15 of the Act or Section 20(a) of the
Exchange Act, against all loss, claim, damage, expense or liability (including
all reasonable attorneys' fees and other expenses reasonably incurred in
investigating, preparing or defending against any claim whatsoever) to which
they may become subject under the Act, the Exchange Act or otherwise, arising
from information furnished by or on behalf of such Holders, or their successors
or assigns, in writing, for specific inclusion in such registration statement,
but only to the same extent and with the same effect as the provisions contained
in Section 6(b) of the Underwriting Agreement pursuant to which the Underwriters
have agreed to indemnify the Company.

         5.3.2 Exercise Of Purchase Options. Nothing contained in this Purchase
Option shall be construed as requiring the Holders to exercise their Purchase
Options or Warrants underlying such Purchase Options prior to or after the
initial filing of any registration statement or the effectiveness thereof.

         5.3.3 Documents Delivered To Holders. The Company shall furnish the
Holders that are participating in any of the foregoing offerings, a signed
counterpart, addressed to the participating Holders, of (i) any opinion of
counsel to the Company delivered to any underwriter engaged in connection with
such offering and (ii) any comfort letter from the Company's independent public
accountants delivered to any such underwriter. In the event no legal opinion is
delivered to an underwriter in connection with an offering, the Company shall,
in connection with such offering, furnish to the Holders that are participating
in any of the foregoing offerings, at any time that the Holders shall elect to
use a Prospectus, an opinion of counsel to the Company to the effect that the
Registration Statement containing such Prospectus has been declared effective
and that no stop order is in effect. The Company shall also deliver promptly to
the Holders, if the Holders are participating in such offering, upon request,
the correspondence described below and copies of all correspondence between the
Commission and the Company, its counsel or auditors and all correspondence
relating to discussions with the Commission or its staff with respect to the
registration statement and permit the Holders to do such investigation, upon
reasonable advance notice, with respect to information contained in or omitted
from the registration statement as it deems reasonably necessary to comply with
applicable federal and state securities laws or NASD rules. Such investigation
shall include access to books, records and properties and opportunities to
discuss the business of the Company with its officers and independent auditors,
all to such reasonable extent and at such reasonable times as the Holders, shall
reasonably request. The Company shall not be required to disclose any
confidential information or other records to the Holders, or to any other
person, until and unless such persons shall have entered into reasonable
confidentiality agreements (in form and substance reasonably satisfactory to the
Company), with the Company with respect thereto.

         5.3.4 Underwriting Agreement. The Company shall enter into an
underwriting agreement with the managing underwriter(s), if any, selected by the
Holders, whose Registrable Securities are being registered pursuant to this
Section 5.1.1, which managing underwriter shall be reasonably

<PAGE>

acceptable to the Company. Such agreement shall be reasonably satisfactory in
form and substance to the Company, the Holders and such managing underwriters,
and shall contain such representations, warranties and covenants by the Company
and such other terms as are customarily provided by the Company in agreements of
that type. For the avoidance of doubt, the Holders may not require the Company
to accept terms, conditions or provisions in any such agreement which the
Company determines are not reasonably acceptable to the Company, notwithstanding
any agreement to the contrary herein. Such Holders shall be parties to any
underwriting agreement relating to an underwritten sale of their Registrable
Securities and may, at its option, require that any or all the representations,
warranties and covenants of the Company to or for the benefit of such
underwriters shall also be made to and for the benefit of such Holders. Such
Holders shall not be required to make any representations or warranties to or
agreements with the Company or the underwriters except as they may relate to
such Holders, their title to the securities being registered, and their intended
methods of distribution. Such Holders, however, shall agree to such covenants
and indemnification and contribution obligations for selling stockholders as are
customarily contained in agreements of that type. Further, such Holders shall
cooperate fully and on a timely basis in the preparation of the registration
statement and other documents relating to any offering in which they include
securities pursuant to this Section 5. Each such Holder shall also furnish to
the Company such information regarding itself, the Registrable Securities held
by it, and the intended method of disposition of such securities as shall be
reasonably required to effect the registration of the Registrable Securities.

         5.3.5 Rule 144 Sale. Notwithstanding anything contained in this Section
5 to the contrary, the Company shall have no obligation pursuant to this Section
5 for the registration of Registrable Securities held by any Holder where (i)
such Holder would then be entitled to (or could otherwise) sell under Rule 144
promulgated under the Act ("RULE 144"), including Rule 144(k), within any
three-month period (or such other period prescribed under Rule 144 as may be
provided by amendment thereof) all of the Registrable Securities, and any
securities underlying such Registrable Securities, if any, then held by such
Holder and (ii) the number of Registrable Securities, and any securities
underlying such Registrable Securities, if any, held by such Holder is within
the volume limitations under paragraph (e) of Rule 144 (calculated as if such
Holder were an affiliate within the meaning of Rule 144).

         5.3.6 Supplemental Prospectus. Each Holder agrees, that upon receipt of
any notice from the Company of the happening of any event as a result of which
the prospectus included in the Registration Statement, as then in effect,
includes an untrue statement of a material fact or omits to state a material
fact required to be stated therein or necessary to make the statements therein
in the light of the circumstances under which they were made, not misleading,
such Holder will immediately discontinue disposition of Registrable Securities
pursuant to the Registration Statement covering such Registrable Securities
until such Holder's receipt of the copies of a supplemental or amended
prospectus, and, if so desired by the Company, such Holder shall deliver to the
Company (at the expense of the Company) or destroy (and deliver to the Company a
certificate of such destruction) all copies, other than permanent file copies
then in such Holder's possession, of the prospectus covering such Registrable
Securities current at the time of receipt of such notice.

         5.3.7 Rule 144 Information. The Company covenants that it shall file
any reports required to be filed by it under the Act and the Securities Exchange
Act of 1934 and shall take such further action as the Holders of Registrable
Securities may reasonably request, all to the extent required from time to time
to enable such Holders to sell Registrable Securities without registration under
the Act within the limitation of the exemptions provided by Rule 144, as such
Rule may be amended from time to time, or any similar Rule or regulation
hereunder adopted by the Securities and Exchange Commission.

<PAGE>

         5.3.8 Holder Obligations. No Holder may participate in any underwritten
offering pursuant to this Section 5 unless such Holder (i) agrees to sell only
the Holder's Registrable Securities on the basis reasonably provided in any
underwriting agreement, and (ii) completes, executes and delivers any and all
questionnaires, powers of attorney, custody agreements, indemnities,
underwriting agreements and other documents reasonably required by or under the
terms of any underwriting agreement or as reasonably requested by the Company.

                                    ARTICLE 6

                                   ADJUSTMENTS

     6.1 Adjustments Under Certain Circumstances. The number of Units underlying
the Purchase Option shall be initially 750,000 Units. The number of Units
underlying the Purchase Option shall be adjusted in certain instances as
provided in this Section 6 hereof, but shall not be adjusted for any other
reason or event. Upon adjustment of the number of Units underlying the Purchase
Option, the number of such Units shall also be adjusted in accordance with this
Section 6.1.5.

         6.1.1 Stock Dividends. If after the date hereof, and subject to the
provisions of Section 6.3 below, the number of outstanding shares of Common
Stock is increased by a stock dividend payable in shares of Common Stock or
other similar distribution involving all holders of shares of Common Stock,
then, on the effective date of such stock dividend or other similar
distribution, the number of Units underlying the Purchase Option shall be
adjusted to equal the number determined by dividing the number of Units
underlying the Purchase Option at the close of business on the record date fixed
for the determination of holders of shares of Common Stock entitled to receive
such dividend or other distribution by a fraction, (i) the numerator of which
shall be the number of shares of Common Stock outstanding at the close of
business on the record date fixed for such determination, and (ii) the
denominator of which shall be the sum of such number of shares of Common Stock
in clause (i) above plus the total number of shares of Common Stock constituting
such dividend or other distribution. Any such adjustment pursuant to this
Section 6.1.1 shall become effective immediately after the opening of business
on the day following the record date fixed for such determination. If any
dividend or distribution of the type described in this Section 6.1.1 is declared
but not so paid or made, the number of Units underlying the Purchase Option
shall again be adjusted to the number of Units that would then be in effect if
such dividend or distribution had not been declared. For example, if the Company
declares a two-for-one stock dividend and at the time of such dividend this
Purchase Option is for the purchase of one Unit at $7.50 per whole Unit (each
Warrant underlying the Units is exercisable for $6.25 per share), upon
effectiveness of the dividend, this Purchase Option will be adjusted to allow
for the purchase of one Unit at $3.75 (each Warrant exercisable for $3.125 per
share).

         6.1.2 Subdivision/Combination Of Shares. If after the date hereof, and
subject to the provisions of Section 6.3 below, the outstanding shares of Common
Stock shall be subdivided or split-up into a greater number of shares of Common
Stock, the number of Units underlying the Purchase Option immediately after the
opening of business on the day following the day upon which such a subdivision
or split-up becomes effective shall be proportionately increased, and
conversely, in case outstanding shares of Common Stock shall be combined,
aggregated or reclassified into a smaller number of shares of Common Stock, the
number of Units underlying the Purchase Option immediately after the opening of
business on the day following the day upon which such combination, aggregation
or reclassification becomes effective shall be proportionately reduced, such
increase or reduction, as the case may be, to become effective immediately after
the opening of business on the day following the day upon which such subdivision
or combination becomes effective.

<PAGE>

         6.1.3 Replacement Of Securities Upon Reorganization, Etc. In case of
any reclassification or reorganization of the outstanding shares of Common Stock
(other than a change covered by Section 6.1.1 or Section 6.1.2 hereof or that
solely affects the par value of such shares of Common Stock), or in the case of
any merger or consolidation of the Company with or into another corporation
(other than a consolidation or merger in which the Company is the continuing
corporation and that does not result in any reclassification or reorganization
of the outstanding shares of Common Stock), or in the case of any sale or
conveyance to another corporation or entity of the assets or other property of
the Company as an entirety or substantially as an entirety in connection with
which the Company is dissolved, the Holders of this Purchase Option shall have
the right thereafter (until the expiration of the right of exercise of this
Purchase Option) to receive upon exercise hereof, upon the basis and upon the
terms and conditions specified herein, for the same aggregate Exercise Price
payable hereunder immediately prior to such event, the kind and amount of shares
of stock or other securities or property (including cash) receivable upon such
reclassification, reorganization, merger or consolidation, or upon a dissolution
following any such sale or transfer, that each Holder would have received if
such Holder had exercised his, her or its Purchase Option immediately prior to
such event; and if any reclassification also results in a change in shares of
Common Stock covered by Section 6.1.1 or 6.1.2, then such adjustment shall be
made pursuant to Sections 6.1.1, 6.1.2 and this Section 6.1.3. For purposes of
this Section 6.1.3 only, the Commencement Date shall be deemed to be the earlier
of the business day immediately preceding such event and the date of the
Commencement Date in the absence of this Section 6.1.3. The provisions of this
Section 6.1.3 shall similarly apply to successive reclassifications,
reorganizations, mergers or consolidations, sales or other transfers.

         6.1.4 Changes In Form Of Purchase Option. This form of Purchase Option
need not be changed because of any change pursuant to this Section, and Purchase
Options issued after such change may state the same Exercise Price and the same
number of Units as are stated in the Purchase Options initially issued pursuant
to this Agreement. The acceptance by any Holder of the issuance of new Purchase
Options reflecting a required or permissive change shall not be deemed to waive
any rights to an adjustment occurring after the Commencement Date or the
computation thereof. However, the Company may at any time in its sole discretion
make any change in the form of Purchase Option that the Company may deem
appropriate and that does not affect the substance thereof, and any Purchase
Option thereafter issued, whether in exchange or substitution for an outstanding
Purchase Option or otherwise, may be in the form as so changed.

         6.1.5 Adjustment to Exercise Price. Whenever the number of Units
purchasable upon the exercise of the Purchase Option is adjusted, as provided in
this Section 6, the Exercise Price shall be adjusted (to the nearest cent,
rounding up) by multiplying such Exercise Price immediately prior to such
adjustment by a fraction, (i) the numerator of which shall be the number of
Units purchasable upon the exercise of the Purchase Option immediately prior to
such adjustment, and (ii) the denominator of which shall be the number of Units
so purchasable immediately thereafter. Any such adjustment pursuant to this
Section 6.1.5 shall become effective immediately after the opening of business
on the day following (i) the record date fixed for such determination giving
rise to such adjustment or (ii) the day upon which such subdivision or
combination giving rise to such adjustment becomes effective, as the case may
be. If any event giving rise to such adjustment does not occur, the Exercise
Price shall again be adjusted to the Exercise Price that would be in effect
without such adjustment.

         6.1.6 Adjustment to Warrant Exercise Price. Whenever the number of
Units purchasable upon the exercise of the Purchase Option is adjusted, as
provided in this Section 6, the Warrant Exercise Price shall be adjusted by
multiplying such Warrant Exercise Price immediately prior to such adjustment by
a fraction, (i) the numerator of which shall be the number of shares of Common
Stock that would be purchasable upon the exercise of the Warrants immediately
prior to such adjustment, and

<PAGE>

(ii) the denominator of which shall be the number of shares of Common Stock so
purchasable immediately thereafter. Any such adjustment pursuant to this Section
6.1.6 shall become effective immediately after the opening of business on the
day following (i) the record date fixed for such determination giving rise to
such adjustment or (ii) the day upon which such subdivision or combination
giving rise to such adjustment becomes effective, as the case may be. If any
event giving rise to such adjustment does not occur, the Warrant Exercise Price
shall again be adjusted to the Warrant Exercise Price that would be in effect
without such adjustment.

     6.2 Substitute Purchase Option. In case of any consolidation of the Company
with, or merger of the Company with, or merger of the Company into, another
corporation (other than a consolidation or merger which does not result in any
reclassification or change of the outstanding Common Stock), the corporation
formed by such consolidation or merger shall execute and deliver to each Holder
a supplemental Purchase Option providing that the holder of each Purchase Option
then outstanding shall have the right thereafter (until the stated expiration of
such Purchase Option) to receive, upon exercise of such Purchase Option, the
kind and amount of shares of stock and other securities and property receivable
upon such consolidation or merger, by a holder of the number of shares of Common
Stock of the Company for which such Purchase Option might have been exercised
immediately prior to such consolidation, merger, sale or transfer. Such
supplemental Purchase Option shall provide for adjustments which shall be
identical to the adjustments provided in Section 6. The above provision of this
Section shall similarly apply to successive consolidations or mergers.

     6.3 Elimination Of Fractional Interests. The Company shall not be required
to issue certificates representing fractions of shares of Common Stock or
Warrants upon the exercise of the Purchase Option, nor shall it be required to
issue scrip or pay cash in lieu of any fractional interests, it being the intent
of the parties that all fractional interests shall be eliminated by rounding any
fraction up to the nearest whole number of Warrants, shares of Common Stock or
other securities, properties or rights.

                                    ARTICLE 7

                           RESERVATION OF COMMON STOCK

     7.1 Reservation and Listing. The Company shall at all times reserve and
keep available out of its authorized shares of Common Stock, solely for the
purpose of issuance upon exercise of the Purchase Option or the Warrants
underlying the Purchase Option, such number of shares of Common Stock or other
securities, properties or rights as shall be issuable upon the exercise thereof.
The Company covenants and agrees that, upon exercise of the Purchase Option and
payment of the Exercise Price therefor, all shares of Common Stock and other
securities issuable upon such exercise shall be duly and validly issued, fully
paid and non-assessable and not subject to preemptive rights of any stockholder.
The Company further covenants and agrees that upon exercise of the Warrants
underlying the Purchase Option and payment of the respective Warrant Exercise
Price therefor, all shares of Common Stock and other securities issuable upon
such exercise shall be duly and validly issued, fully paid and non-assessable
and not subject to preemptive rights of any stockholder. As long as the Purchase
Options shall be outstanding, the Company shall use its best efforts to cause
all (i) Units and shares of Common Stock issuable upon exercise of the Purchase
Options, (ii) Warrants issuable upon exercise of the Purchase Options and (iii)
shares of Common Stock issuable upon exercise of the Warrants included in the
Units issuable upon exercise of the Purchase Option to be listed (subject to
official notice of issuance) on all securities exchanges (or, if applicable on
the NASDAQ National Market, SmallCap Market, OTC Bulletin Board or any successor
trading market) on which the Units, the Common Stock or the Public Warrants
issued to the public in connection herewith may then be listed and/or quoted.
<PAGE>

                                   ARTICLE 8

                           CERTAIN NOTICE REQUIREMENTS

     8.1 Holders' Right To Receive Notice. Nothing herein shall be construed as
conferring upon the Holders the right to vote or consent as a stockholder for
the election of directors or any other matter, or as having any rights
whatsoever as a stockholder of the Company. If, however, at any time prior to
the expiration of the Purchase Options and their exercise, any of the events
described in Section 8.2 shall occur, then, in one or more of said events, the
Company shall give written notice of such event at least ten (10) Business Days
prior to the date fixed as a record date or the date of closing the transfer
books for the determination of the stockholders entitled to such dividend,
distribution, conversion or exchange of securities or subscription rights, or
entitled to vote on such proposed dissolution, liquidation, winding up or sale.
Such notice shall specify such record date or the date of the closing of the
transfer books, as the case may be. Notwithstanding the foregoing, the Company
shall deliver to the Holders a copy of each notice given to the other
stockholders of the Company at the same time and in the same manner that such
notice is given to the stockholders.

     8.2 Events Requiring Notice. The Company shall be required to give the
notice described in this Section 8 upon one or more of the following events: (i)
if the Company shall take a record of the holders of its shares of Common Stock
for the purpose of entitling them to receive a dividend or distribution payable
otherwise than in cash, or a cash dividend or distribution payable otherwise
than out of retained earnings, as indicated by the accounting treatment of such
dividend or distribution on the books of the Company, or (ii) the Company shall
offer to all the holders of its Common Stock any additional shares of capital
stock of the Company or securities convertible into or exchangeable for shares
of capital stock of the Company, or any option, right or warrant to subscribe
therefor, or (iii) a dissolution, liquidation or winding up of the Company
(other than in connection with a consolidation or merger) or a sale of all or
substantially all of its property, assets and business shall be proposed.

     8.3 Notice Of Change In Exercise Price. The Company shall, promptly after
an event requiring a change in the Exercise Price and Warrant Exercise Price
pursuant to Section 6 hereof, send notice to the Holders of such event and
change ("PRICE NOTICE"). The Price Notice shall describe the event causing the
change and the method of calculating same and shall be certified as being true
and accurate by the Company's President.

     8.4 Transmittal Of Notices. All notices, requests, consents and other
communications under this Purchase Option shall be in writing and shall be
deemed to have been duly made when hand delivered, or mailed by express mail or
next-day courier service: (i) if to a registered Holder of the Purchase Option,
to the address of such Holder as shown on the books of the Company, or (ii) if
to the Company, to the following address or to such other address as the Company
may designate by notice to the Holders:

                           Navitas International Corporation
                           4 Dublin Circle
                           Burlington, MA  01803
                           Attn : President and Chief Executive Officer

                                   ARTICLE 9

                  REPRESENTATIONS AND WARRANTIES OF THE COMPANY

<PAGE>

The Company hereby represents and warrants to FTN that:

     9.1 Organization, Good Standing and Qualification. The Company is a
corporation validly existing and in good standing under the laws of the State of
Delaware.

     9.2 Corporate Power. The Company has all requisite corporate power to
execute and deliver the Purchase Option and to carry out and perform its
obligations under the Purchase Option.

     9.3 Authorization; Enforceability; Valid Issuance. All corporate action on
the part of the Company necessary for the authorization, execution, delivery and
performance of this Purchase Option by the Company and the performance of the
Company's obligations hereunder, including the issuance and delivery of the
Purchase Option and the reservation of the Common Stock underlying the Purchase
Option has been taken. The Purchase Option constitutes, and the Warrant
Agreement, when executed and delivered will constitute, valid and binding
obligations of the Company enforceable in accordance with their respective
terms, except (i) as such enforceability may be limited by bankruptcy,
insolvency, fraudulent conveyance, moratorium, reorganization or similar laws
affecting creditors' rights generally, (ii) as such enforceability may be
limited by an implied covenant of good faith and fair dealing, (iii) as
enforceability of any indemnification or contribution provision may be limited
under the federal and state securities laws or principles of public policy, (iv)
that the remedy of specific performance and injunctive and other forms of
equitable relief may be subject to equitable defenses and to the discretion of
the court before which any proceeding therefor may be brought and (v) as such
enforceability may be limited by general principles of equity (regardless of
whether enforceability is considered in a proceeding in equity or at law). The
Common Stock, when issued upon exercise of this Purchase Option or the Warrants
underlying this Purchase Option and in compliance with the provisions of this
Purchase Option, will be validly issued, fully paid and nonassessable and free
and clear of any preemptive rights under the Company's amended and restated
certificate of incorporation, as amended from time to time.

     9.4 Governmental Consents. All consents, approvals, orders, or
authorizations of, or registrations, qualifications, designations, declarations,
or filings with, any governmental authority, required on the part of the Company
in connection with the valid offer, execution, sale and delivery of this
Purchase Option, have been obtained and are effective.

     9.5 Compliance with Other Instruments. The execution, delivery and
performance of this Purchase Option and the consummation of the transactions
contemplated hereby and the compliance by the Company with the terms hereof do
not and will not (i) result in a breach of, or conflict with any of the terms
and provisions of, or constitute a default, with or without the giving of notice
of the lapse of time or both, under, or result in the creation, modification,
termination or imposition of any lien, charge or encumbrance upon any property
or assets of the Company pursuant to the terms of any material agreement or
instrument to which the Company is a party, (ii) result in any violation of the
provisions of the amended and restated certificate of incorporation, as amended
from time to time or the bylaws of the Company, or (iii) result in a material
violation of any existing applicable law, rule, regulation, judgment, order or
decree of any governmental agency or court having jurisdiction over the Company
or any of its properties or business.

                                   ARTICLE 10

                                  MISCELLANEOUS
<PAGE>

     10.1 Amendments. No term or provision of this Agreement may be amended,
changed, waived, altered or modified except by written instrument executed and
delivered by the party against whom such amendment, change, waiver, alteration
or modification is to be enforced.

     10.2 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 Purchase Option.

     10.3 Entire Agreement. This Purchase Option (together with the other
agreements and documents being delivered pursuant to or in connection with this
Purchase Option) constitutes the entire agreement of the parties hereto with
respect to the subject matter hereof, and supersedes all prior agreements and
understandings of the parties, oral and written, with respect to the subject
matter hereof. Except as set forth in Section 9 hereof, the Holders acknowledge
that neither the Company nor any of its representatives or advisors has made any
representation or warranty to the Holders with respect to this Purchase Option,
the securities underlying this Purchase Option or any other matter.

     10.4 Binding Effect. This Purchase Option shall inure solely to the benefit
of and shall be binding upon, the Holders and the Company and their permitted
assignees, respective successors, legal representative and assigns, and no other
person shall have or be construed to have any legal or equitable right, remedy
or claim under or in respect of or by virtue of this Purchase Option or any
provisions herein contained.

     10.5 Governing Law; Submission To Jurisdiction. This Purchase Option shall
be governed by and interpreted and construed in accordance with the laws of the
State of New York applicable to contracts formed and to be performed entirely
within the State of New York, without regard to the conflicts of law provisions
thereof to the extent such principles or rules would require or permit the
application of the laws of another jurisdiction. The Company and the Holder
irrevocably and unconditionally submit to the exclusive jurisdiction of the
United States District Court for the Southern District of New York or, if such
court does not have jurisdiction, the new York State Supreme Court in the
Borough of Manhattan, in any action arising out of or relating to this Purchase
Option, agree that all claims in respect of the action may be heard and
determined in any such court and agree not to bring any action arising out of or
relating to this Purchase Option in any other court. In any action, the Company
and the Holders irrevocably and unconditionally waive and agree not to assert by
way of motion, as a defense or otherwise any claims that it is not subject to
the jurisdiction of the above court, that such action is brought in an
inconvenient forum or that the venue of such action is improper. Without
limiting the foregoing, the Company and the Holder agree that the service of
process on either at the address provided in Section 8.4 shall be deemed
effective service of process on such party. The Company and the Holder agree
that the prevailing party(ies) in any such action shall be entitled to recover
from the other party(ies) all of its reasonable attorneys' fees and expenses
relating to such action or proceeding and/or incurred in connection with the
preparation therefor.

     10.6 Waiver, Etc. The failure of the Company or the Holders to at any time
enforce any of the provisions of this Purchase Option shall not be deemed or
construed to be a waiver of any such provision, nor to in any way affect the
validity of this Purchase Option or any provision hereof or the right of the
Company or any Holder to thereafter enforce each and every provision of this
Purchase Option. No waiver of any breach, non-compliance or non-fulfillment of
any of the provisions of this Purchase Option shall be effective unless set
forth in a written instrument executed by the party or parties against whom or
which enforcement of such waiver is sought; and no waiver of any such breach,
non-compliance or non- fulfillment shall be construed or deemed to be a waiver
of any other or subsequent breach, non-compliance or non-fulfillment.

<PAGE>

     10.7 Execution In Counterparts. This Purchase Option 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 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.

     10.8 Underlying Warrants. At any time after exercise by a Holder of this
Purchase Option, such Holder may exchange his Warrants (with an initial Warrant
Exercise Price of $6.25 per share) for Public Warrants (with an initial exercise
price of $5.00 per share) upon payment to the Company of the difference between
the then exercise price of his Warrant and the then exercise price of the Public
Warrants; provided, however, that such exchange may only be made subject to
compliance with or exemption from applicable federal and state securities laws.

      IN WITNESS WHEREOF, the Company has caused this Unit Purchase Option to be
signed by its duly authorized officer as of the ______ day of [_____], 2006.

                                        NAVITAS INTERNATIONAL CORPORATION

                                        By:  ----------------------------------
                                        Name:
                                        Title:

                                                                       EXHIBIT A

Form To Be Used To Exercise Purchase Option:

                                  EXERCISE FORM

Navitas International Corporation
4 Dublin Circle

Burlington, MA  01803

Date:                     , 200
     ---------------------     ---

     PAYMENT EXERCISE: The undersigned hereby elects irrevocably to exercise all
or a portion of the within Purchase Option and to purchase _________ Units of
Navitas International Corporation and hereby makes payment of $ ________ (at the
rate of $7.50 per Unit) in payment of the Exercise Price pursuant thereto.
Please issue the Common Stock and Warrants as to which this Purchase Option is
exercised in accordance with the instructions given below.

                                       OR

     The undersigned hereby elects irrevocably to exercise its right to convert
___________Units pursuant to Section 2.4 of the within Purchase Option by
surrender of the unexercised portion of the attached Purchase Option (with a
"Value" of $_______ ; a "Current Market Value" of $_________ ; and a "Current

<PAGE>

Market Price" of $_____ ). Please issue that number of securities comprising the
Units (as determined in accordance with Section 2.4 of the Purchase Option) in
accordance with the instructions given below.

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

                                -----------------------------------------------
                                Signature Guaranteed

      NOTICE: THE SIGNATURE TO THIS FORM MUST CORRESPOND WITH THE NAME AS
WRITTEN UPON THE FACE OF THE WITHIN PURCHASE OPTION IN EVERY PARTICULAR WITHOUT
ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER, AND MUST BE GUARANTEED BY AN
ELIGIBLE GUARANTOR INSTITUTION (AS THAT TERM IS DEFINED IN RULE 17AD-15 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED).

                   INSTRUCTIONS FOR REGISTRATION OF SECURITIES

Name
        -----------------------------------------------------------------------
                            (Print in Block Letters)

Address
        -----------------------------------------------------------------------

                                                                       EXHIBIT B

Form To Be Used To Assign Purchase Option:

                               FORM OF ASSIGNMENT

       (To be executed by the registered Holder to effect a transfer of the
within Purchase Option):

     FOR VALUE RECEIVED _____________________does hereby sell, assign and
transfer unto __________________ a permitted transferee under Section 3.1 of the
Purchase Option, the right to purchase ______________________ Units of Navitas
International Corporation. (the "Company") evidenced by the within Purchase
Option and does hereby authorize the Company to transfer such right on the books
of the Company.

Dated:                     , 200
      --------------------      ----

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

                                -----------------------------------------------
                                Signature Guaranteed

<PAGE>

      NOTICE: THE SIGNATURE TO THIS FORM MUST CORRESPOND WITH THE NAME AS
WRITTEN UPON THE FACE OF THE WITHIN PURCHASE OPTION IN EVERY PARTICULAR WITHOUT
ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER, AND MUST BE GUARANTEED BY AN
ELIGIBLE GUARANTOR INSTITUTION (AS THAT TERM IS DEFINED IN RULE 17AD-15 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED).

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