Document:

GUARANTY AND PLEDGE AGREEMENT

      GUARANTY AND PLEDGE AGREEMENT (this "Agreement"), dated as of November 30,
2004, among Digital Descriptor Systems, Inc., a Delaware corporation (the
"Company"), Michael Pellegrino (the "Pledgor"), and the pledgees signatory
hereto and their respective endorsees, transferees and assigns (collectively,
the "Pledgees").

                              W I T N E S S E T H:
                              - - - - - - - - - -

      WHEREAS, pursuant to a Securities Purchase Agreement, dated the date
hereof, between Company and the Pledgees (the "Purchase Agreement"), Company has
agreed to issue to the Pledgees and the Pledgees have agreed to purchase from
Company certain of Company's 12% Callable Secured Convertible Debentures , due
two years from the date of issue (the "Debentures"), which are convertible into
shares of Company's Common Stock, par value $.001 per share (the "Common
Stock"). In connection therewith, Company shall issue the Pledgees certain
Common Stock purchase warrants (the "Warrants"); and

      WHEREAS, as a material inducement to the Pledgees to enter into the
Purchase Agreement, the Pledgees have required and the Pledgor has agreed (i) to
unconditionally guarantee the timely and full satisfaction of all obligations of
the Company, whether matured or unmatured, now or hereafter existing or created
and becoming due and payable (the "Obligations") to the Pledgees, their
successors, endorsees, transferees or assigns under the Transaction Documents
(as defined in the Purchase Agreement) to the extent of the Collateral (as
defined in Section 5 hereof), and (ii) to grant to the Pledgees, their
successors, endorsees, transferees or assigns a security interest in all of the
shares of Common Stock currently owned by the Pledgor (collectively, the
"Shares"), as collateral security for Obligations. Terms used and not defined
herein shall have the meaning ascribed to them in the Purchase Agreement.

      NOW, THEREFORE, in consideration of the foregoing recitals, and the mutual
covenants contained herein, the parties hereby agree as follows:

      1. Guaranty. To the extent of the Collateral, the Pledgor hereby
absolutely, unconditionally and irrevocably guarantees to the Pledgees, their
successors, endorsees, transferees and assigns the due and punctual performance
and payment of the Obligations owing to the Pledgees, their successors,
endorsees, transferees or assigns when due, all at the time and place and in the
amount and manner prescribed in, and otherwise in accordance with, the
Transaction Documents, regardless of any defense or set-off counterclaim which
the Company or any other person may have or assert, and regardless of whether or
not the Pledgees or anyone on behalf of the Pledgees shall have instituted any
suit, action or proceeding or exhausted its remedies or taken any steps to
enforce any rights against the Company or any other person to compel any such
performance or observance or to collect all or part of any such amount, either
pursuant to the provisions of the Transaction Documents or at law or in equity,
and regardless of any other condition or contingency. The Pledgor shall have no
obligation whatsoever to the Pledgees beyond the Collateral pledged for the
Obligations set forth herein.

<PAGE>

      2. Waiver of Demand. The Pledgor hereby unconditionally: (i) waives any
requirement that the Pledgees, in the event of a breach in any material respect
by the Company of any of its representations or warranties in the Transaction
Documents, first make demand upon, or seek to enforce remedies against, the
Company or any other person before demanding payment of enforcement hereunder;
(ii) covenants that this Agreement will not be discharged except by complete
performance of all the Obligations to the extent of the Collateral; (iii) agrees
that this Agreement shall remain in full force and effect without regard to, and
shall not be affected or impaired, without limitation, by, any invalidity,
irregularity or unenforceability in whole or in part of the Transaction
Documents or any limitation on the liability of the Company thereunder, or any
limitation on the method or terms of payment thereunder which may now or
hereafter be caused or imposed in any manner whatsoever; and (iv) waives
diligence, presentment and protest with respect to, and notice of default in the
performance or payment of any Obligation by the Company under or in connection
with the Transaction Documents.

      3. Release. The obligations, covenants, agreements and duties of the
Pledgor hereunder shall not be released, affected or impaired by any assignment
or transfer, in whole or in part, of the Transaction Documents or any
Obligation, although made without notice to or the consent of the Pledgor, or
any waiver by the Pledgees, or by any other person, of the performance or
observance by the Company or the Pledgor of any of the agreements, covenants,
terms or conditions contained in the Transaction Documents, or any indulgence in
or the extension of the time or renewal thereof, or the modification or
amendment (whether material or otherwise), or the voluntary or involuntary
liquidation, sale or other disposition of all or any portion of the stock or
assets of the Company or the Pledgor, or any receivership, insolvency,
bankruptcy, reorganization, or other similar proceedings, affecting the Company
or the Pledgor or any assets of the Company or the Pledgor, or the release of
any proper from any security for any Obligation, or the impairment of any such
property or security, or the release or discharge of the Company or the Pledgor
from the performance or observance of any agreement, covenant, term or condition
contained in or arising out of the Transaction Documents by operation of law, or
the merger or consolidation of the Company, or any other cause, whether similar
or dissimilar to the foregoing.

      4. Subrogation.

            (a) Unless and until complete performance of all the Obligations to
the extent of the Collateral, the Pledgor shall not be entitled to exercise any
right of subrogation to any of the rights of the Pledgees against the Company or
any collateral security or guaranty held by the Pledgees for the payment or
performance of the Obligations, nor shall the Pledgor seek any reimbursement
from the Company in respect of payments made by the Pledgor hereunder.

            (b) In the extent that the Pledgor shall become obligated to perform
or pay any sums hereunder, or in the event that for any reason the Company is
now or shall hereafter become indebted to the Pledgor, the amount of such sum
shall at all times be subordinate as to lien, time of payment and in all other
respects, to the amounts owing to the Pledgees under the Transaction Documents
and the Pledgor shall not enforce or receive payment thereof until all
Obligations due to the Pledgees under the Transaction have been performed or
paid. Nothing herein contained is intended or shall be construed to give to the
Pledgor any right of subrogation in or under the Transaction Documents, or any
right to participate in any way therein, or in any right, title or interest in
the assets of the Pledgees.

                                       2
<PAGE>

      5. Security. As collateral security for the punctual payment and
performance, when due, by the Company of all the Obligations, the Pledgor hereby
pledges with, hypothecates, transfers and assigns to the Pledgees all of the
Shares and all proceeds, shares and other securities received, receivable or
otherwise distributed in respect of or in exchange for the Shares, including,
without limitation, any shares and other securities into which such Shares may
be convertible or exchangeable (collectively, the "Additional Collateral" and
together with the Shares, the "Collateral"). Simultaneously herewith, the
Pledgor shall deliver to the Pledgees the certificate(s) representing the
Shares, stamped with a bank medallion guarantee, along with a stock transfer
power duly executed in blank by the Pledgor, to be held by the Pledgees as
security. Any Collateral received by the Pledgor on or after the date hereof
shall be immediately delivered to the Pledgees together with any executed stock
powers or other transfer documents requested by the Pledgees, which request may
be made at any time prior to the date when the Obligations shall have been paid
and otherwise satisfied in full.

      6. Voting Power, Dividends, Etc. and other Agreements.

            (a) Unless and until an Event of Default (as set forth in Section 7
hereof) has occurred, the Pledgor shall be entitled to:

                  (i) Exercise all voting and/or consensual powers pertaining to
            the Collateral, or any part thereof, for all purposes;

                  (ii) Receive and retain dividends paid with respect to the
            Collateral; and

                  (iii) Receive the benefits of any income tax deductions
            available to the Pledgor as a shareholder of the Company.

            (b) The Pledgor agrees that it will not sell, assign, transfer,
pledge, hypothecate, encumber or otherwise dispose of the Collateral.

            (c) The Pledgor and the Company jointly and severally agree to pay
all costs including all reasonable attorneys' fees and disbursements incurred by
the Pledgees in enforcing this Agreement in accordance with its terms.

      7. Default and Remedies.

            (a) For the purposes of this Agreement, "Event of Default" shall
mean:

                  (i) default in or under any of the Obligations after the
            expiration, without cure, of any applicable cure period;

                  (ii) a breach in any material respect by the Company of any of
            its representations or warranties in the Transaction Documents; or

                                       3
<PAGE>

                  (iii) a breach in any material respect by the Pledgor of any
            of its representations or warranties in this Agreement.

            (b) the Pledgees shall have the following rights upon any Event of
Default:

                  (i) the rights and remedies provided by the Uniform Commercial
            Code as adopted by the State of New York (the "UCC") (as said law
            may at any time be amended);

                  (ii) the right to receive and retain all dividends, payments
            and other distributions of any kind upon any or all of the
            Collateral;

                  (iii) the right to cause any or all of the Collateral to be
            transferred to its own name or to the name of its designee and have
            such transfer recorded in any place or places deemed appropriate by
            the Pledgees; and

                  (iv) the right to sell, at a public or private sale, the
            Collateral or any part thereof for cash, upon credit or for future
            delivery, and at such price or prices in accordance with the UCC (as
            such law may be amended from time to time). Upon any such sale the
            Pledgees shall have the right to deliver, assign and transfer to the
            purchaser thereof the Collateral so sold. The Pledgees shall give
            the Pledgor not less than ten (10) days' written notice of its
            intention to make any such sale. Any such sale, shall be held at
            such time or times during ordinary business hours and at such place
            or places as the Pledgees may fix in the notice of such sale. The
            Pledgees may adjourn or cancel any sale or cause the same to be
            adjourned from time to time by announcement at the time and place
            fixed for the sale, and such sale may be made at any time or place
            to which the same may be so adjourned. In case of any sale of all or
            any part of the Collateral upon terms calling for payments in the
            future, any Collateral so sold may be retained by the Pledgees until
            the selling price is paid by the purchaser thereof, but the Pledgees
            shall incur no liability in the case of the failure of such
            purchaser to take up and pay for the Collateral so sold and, in the
            case of such failure, such Collateral may again be sold upon like
            notice. The Pledgees, however, instead of exercising the power of
            sale herein conferred upon them, may proceed by a suit or suits at
            law or in equity to foreclose the security interest and sell the
            Collateral, or any portion thereof, under a judgment or decree of a
            court or courts of competent jurisdiction, the Pledgor having been
            given due notice of all such action. The Pledgees shall incur no
            liability as a result of a sale of the Collateral or any part
            thereof. All proceeds of any such sale, after deducting the
            reasonable expenses and reasonable attorneys' fees incurred in
            connection with such sale, shall be applied in reduction of the
            Obligations, and the remainder, if any, shall be paid to the
            Pledgor.

                                       4
<PAGE>

      8. Application of Proceeds; Release. The proceeds of any sale or
enforcement of or against all or any part of the Collateral, and any other cash
or collateral at the time held by the Pledgees hereunder, shall be applied by
the Pledgees first to the payment of the reasonable costs of any such sale or
enforcement, then to reimburse the Pledgees for any damages, costs or expenses
incurred by the Pledgees as a result of an Event of Default, then to the payment
of the principal amount or stated valued (as applicable) of, and interest or
dividends (as applicable) and any other payments due in respect of, the
Obligations. The remainder, if any, shall be paid to the Pledgor. As used in
this Agreement, "proceeds" shall mean cash, securities and other property
realized in respect of, and distributions in kind of, the Collateral, including
any thereof received under any reorganization, liquidation or adjustment of debt
of any issuer of securities included in the Collateral.

      9. Representations and Warranties.

            (a) The Pledgor hereby represents and warrants to the Pledgees that:

                  (i) the Pledgor has full power and authority and legal right
            to pledge the Collateral to the Pledgees pursuant to this Agreement
            and this Agreement constitutes a legal, valid and binding obligation
            of the Pledgor, enforceable in accordance with its terms.

                  (ii) the execution, delivery and performance of this Agreement
            and other instruments contemplated herein will not violate any
            provision of any order or decree of any court or governmental
            instrumentality or of any mortgage, indenture, contract or other
            agreement to which the Pledgor is a party or by which the Pledgor
            and the Collateral may be bound, and will not result in the creation
            or imposition of any lien, charge or encumbrance on, or security
            interest in, any of the Pledgor's properties pursuant to the
            provisions of such mortgage, indenture, contract or other agreement.

                  (iii) the Pledgor is the sole record and beneficial owner of
            all of the Shares; and

                  (iv) the Pledgor owns the Collateral free and clear of all
            Liens.

            (b) The Company represents and warrants to the Pledgees that:

                  (i) it has no knowledge that any of the representations or
            warranties of the Pledgor herein are incorrect or false in any
            material respect;

                  (ii) all of the Shares were validly issued, fully paid and
            non-assessable; and

                  (iii) the Pledgor is the record holder of the Shares.

                                       5
<PAGE>

      10. No Waiver; No Election of Remedies. No failure on the part of the
Pledgees to exercise, and no delay in exercising, any right, power or remedy
hereunder shall operate as a waiver thereof; nor shall any single or partial
exercise by the Pledgees of any right, power or remedy preclude any other or
further exercise thereof or the exercise of any other right, power or remedy.
The remedies herein provided are cumulative and are not exclusive of any
remedies provided by law. In addition, the exercise of any right or remedy of
the Pledgees at law or equity or under this Agreement or any of the documents
shall not be deemed to be an election of Pledgee's rights or remedies under such
documents or at law or equity.

      11. Termination. This Agreement shall terminate on the date on which all
Obligations have been performed, satisfied, paid or discharged in full.

      12. Further Assurances. The parties hereto agree that, from time to time
upon the written request of any party hereto, they will execute and deliver such
further documents and do such other acts and things as such party may reasonably
request in order fully to effect the purposes of this Agreement. The Pledgees
acknowledge that they are aware that Pledgor shall have no obligations
whatsoever to the Pledgees beyond the Collateral pledged for the Obligations set
forth herein, and no request for further assurance may or shall increase such
Obligations.

      13. Miscellaneous.

            (a) Modification. This Agreement contains the entire understanding
between the parties with respect to the subject matter hereof and specifically
incorporates all prior oral and written agreements relating to the subject
matter hereof. No portion or provision of this Agreement may be changed,
modified, amended, waived, supplemented, discharged, canceled or terminated
orally or by any course of dealing, or in any manner other than by an agreement
in writing, signed by the party to be charged.

            (b) Notice. Any and all notices or other communications or
deliveries required or permitted to be provided hereunder shall be in writing
and shall be deemed given and effective on the earliest of (i) the date of
transmission, if such notice or communication is delivered via facsimile at the
facsimile telephone number specified in this Section prior to 6:30 p.m. (New
York City time) on a Business Day (as defined in the Purchase Agreement), (ii)
the Business Day after the date of transmission, if such notice or communication
is delivered via facsimile at the facsimile telephone number specified in this
Agreement later than 6:30 p.m. (New York City time) on any date and earlier than
11:59 p.m. (New York City time) on such date, (iii) the Business Day following
the date of mailing, if sent by nationally recognized overnight courier
services, or (iv) upon actual receipt by the party to whom such notice is
required to be given. The address for such notices and communications shall be
as follows:

         If to the Company:    Digital Descriptor Systems, Inc.
                               2150 Highway 35, Suite 250
                               Sea Girt, New Jersey  08750
                               Attention:  President and Chief Executive Officer
                               Telephone:  (732) 359-0260
                               Facsimile:   (732) 359-0265

                                       6
<PAGE>

         With copies to:       Sichenzia Ross Friedman Ference LLP
                               1065 Avenue of the Americas
                               New York, New York  10018
                               Attention:  Gregory Sichenzia, Esq.
                               Telephone:  (212) 930-9700
                               Facsimile:   (212) 930-9725

         If to the Pledgor:    Michael Pellegrino
                               c/o Digital Descriptor Systems, Inc.
                               2150 Highway 35, Suite 250
                               Sea Girt, New Jersey  08750
                               Attention:  President and Chief Executive Officer
                               Telephone:  (732) 359-0260
                               Facsimile:   (732) 359-0265

         If to the Pledgees:   AJW Partners, LLC
                               AJW Offshore, Ltd.
                               AJW Qualified Partners, LLC
                               New Millennium Capital Partners II, LLC
                               1044 Northern Boulevard
                               Suite 302
                               Roslyn, New York  11576
                               Facsimile No.:  (516) 739-7115
                               Attn:  Corey S. Ribotsky

         With copies to:       Ballard Spahr Andrews & Ingersoll, LLP
                               1735 Market Street, 51st Fl.
                               Philadelphia, PA 19103
                               Facsimile No.: (215) 864-8999
                               Attn:  Gerald J. Guarcini, Esquire

            (c) Invalidity. If any part of this Agreement is contrary to,
prohibited by, or deemed invalid under applicable laws or regulations, such
provision shall be inapplicable and deemed omitted to the extent so contrary,
prohibited or invalid, but the remainder hereof shall not be invalidated thereby
and shall be given effect so far as possible.

            (d) Benefit of Agreement. This Agreement shall be binding upon and
inure to the parties hereto and their respective successors and assigns.

            (e) Mutual Agreement. This Agreement embodies the arm's length
negotiation and mutual agreement between the parties hereto and shall not be
construed against either party as having been drafted by it.

                                       7
<PAGE>

            (f) New York Law to Govern. This Agreement shall be governed by and
construed and enforced in accordance with the internal laws of the State of New
York without regard to the principals of conflicts of law thereof. Each party
hereby irrevocably submits to the exclusive jurisdiction of the state and
Federal courts sitting in the city of New York, borough of Manhattan, for the
adjudication of any dispute hereunder or in connection herewith or with any
transaction contemplated hereby or discussed herein, and hereby irrevocably
waives, and agrees not to assert in any suit, action or proceeding, any claim
that it is not personally subject to the jurisdiction of any such court or that
such suit, action or proceeding is improper. Each party hereby irrevocably
waives personal service of process and consents to process being served in any
such suit, action or proceeding by mailing a copy thereof to such party at the
address in effect for notices to it under this agreement and agrees that such
service shall constitute good and sufficient service of process and notice
thereof. Nothing contained herein shall be deemed to limit in any way any right
to serve process in any manner permitted by law.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       8
<PAGE>

      IN WITNESS WHEREOF, the parties hereto have caused this Guaranty and
Pledge Agreement to be duly executed by their respective authorized persons as
of the date first indicated above.

                                DIGITAL DESCRIPTOR SYSTEMS, INC.

                                By:/s/ Anthony R. Shupin
                                   --------------------------------------------
                                   Anthony R. Shupin
                                   President and Chief Executive Officer

                                PLEDGEES:

                                AJW PARTNERS, LLC

                                By: SMS Group, LLC

                                   By:/s/ Corey S. Ribotsky
                                      ------------------------------------------
                                      Corey S. Ribotsky
                                      Manager

                                AJW OFFSHORE, LTD.

                                By:  First Street Manager II, LLC

                                   By:/s/ Corey S. Ribotsky
                                      ------------------------------------------
                                      Corey S. Ribotsky
                                      Manager

                                AJW QUALIFIED PARTNERS, LLC

                                By:  AJW Manager, LLC

                                   By:/s/ Corey S. Ribotsky
                                      ------------------------------------------
                                      Corey S. Ribotsky
                                      Manager

                                NEW MILLENNIUM CAPITAL PARTNERS II, LLC

                                By:  First Street Manager II, LLC

                                   By:/s/ Corey S. Ribotsky
                                      ------------------------------------------
                                      Corey S. Ribotsky
                                      Manager

                    [Signatures Continued on Following Page]

                                       9
<PAGE>

                                    PLEDGOR:

                                    /s/ Michael Pellegrino
                                    -------------------------------------------
                                    Michael Pellegrino
                                    15,335,000 Shares

                                       10ESCROW AGREEMENT

      ESCROW AGREEMENT (the "Escrow Agreement") made as of the 30th day of
November, 2004, by and among Digital Descriptor Systems, Inc., a Delaware
corporation (the "Company"), the Purchasers listed on Schedule A attached hereto
(each a "Purchaser" and collectively, the "Purchasers") and Owen Naccarato (the
"Escrow Agent").

                              W I T N E S S E T H:

      WHEREAS, the Company desires to raise capital in order to finance the
growth of its business operations and for other general corporate purposes;

      WHEREAS, the Company and the Purchasers have agreed that, in order to
raise capital, the Company shall issue and sell to the Purchasers notes (the
"Notes"), convertible into shares of the Company's common stock, $0.001 par
value per share (the "Common Stock"), and Warrants to purchase shares of Common
Stock (the "Warrants") for an aggregate purchase price of $3,500,000;

      WHEREAS, the Company has entered into a Securities Purchase Agreement
dated as of November 30, 2004 (the "Purchase Agreement") with the Purchasers;

      WHEREAS, the parties have agreed that all funds shall be paid into escrow
and the Escrow Agent has agreed to receive, hold and pay such funds, upon the
terms and subject to the conditions hereinafter set forth.

      NOW, THEREFORE, in consideration of the mutual covenants herein contained,
and for other good and valuable consideration, the receipt and legal sufficiency
of which is hereby acknowledged, the parties to this Escrow Agreement hereby
agree as follows:

      1. Defined Terms. Capitalized terms used and not otherwise defined herein
shall have the meanings respectively assigned to them in the Purchase Agreement.

      2. Escrow of Funds. On the Closing Date (as defined in the Purchase
Agreement), the following shall occur: the Purchasers shall remit by wire
transfer of $3,008,431.06 to the Escrow Agent pursuant to this Escrow Agreement
as payment in full for the Notes and the Warrants (the "Escrow Amount"). The
Escrow Agent shall hold the Escrow Amount only in accordance with the terms and
conditions of this Escrow Agreement.

      3. Investment of Funds. The Escrow Agent shall invest the monies in the
Escrow Amount in an interest bearing bank account with, or certificates of
deposit or time deposits with, maturities of no more than thirty (30) days
issued by, a domestic commercial bank or such other bank or other financial
institution as it normally holds such funds.

      4. Release of Funds.

      On or after the date hereof, the Escrow Agent shall release all or a
portion of the Escrow Amount upon joint written instructions from the Company
and the Purchasers directing the manner in which the disbursement of the Escrow
Amount is to be made; provided, however, that the Escrow Amount shall only be
released for the following purposes: (a) $1,500,000 to be used for the
acquisition of CGM Security Solutions, Inc., (b) $750,000 to be used for the
redemption of $500,000 in principal amount of certain convertible debentures
issued to the Purchaser in October 2003, November 2003, December 2003, February
2004 and May 2004 and (c) 758,431.06 to be used for working capital and general
corporate purposes.

<PAGE>

      5. Further Assurances. The Company and the Purchasers agree to do such
further acts and to execute and deliver such statements, assignments,
agreements, instruments and other documents as the Escrow Agent from time to
time reasonably may request in connection with the administration, maintenance,
enforcement or adjudication of this Escrow Agreement in order (a) to give the
Escrow Agent confirmation and assurance of the Escrow Agent's rights, powers,
privileges, remedies and interests under this Escrow Agreement and applicable
law, (b) to better enable the Escrow Agent to exercise any such right, power,
privilege, remedy or interest, or (c) to otherwise effectuate the purpose and
the terms and provisions of this Escrow Agreement, each in such form and
substance as may be reasonably acceptable to the Escrow Agent.

      6. Conflicting Demands. If conflicting or adverse claims or demands are
made or notices served upon the Escrow Agent with respect to the escrow provided
for herein, the Company and the Purchasers agree that the Escrow Agent shall
refuse to comply with any such claim or demand and withhold and stop all further
performance of this escrow so long as such disagreement shall continue. In so
doing, the Escrow Agent shall not be or become liable for damages, losses,
costs, expenses or interest to any or any other person for its failure to comply
with such conflicting or adverse demands. The Escrow Agent shall be entitled to
continue to so refrain and refuse to so act until such conflicting claims or
demands shall have been finally determined by a court or arbitrator of competent
jurisdiction or shall have been settled by agreement of the parties to such
controversy, in which case the Escrow Agent shall be notified thereof in a
notice signed by such parties. The Escrow Agent may also elect to commence an
interpleader or other action for declaratory judgment for the purpose of having
the respective rights of the claimants adjudicated, and may deposit with the
court all funds held hereunder pursuant to this Escrow Agreement; and if it so
commences and deposits, the Escrow Agent shall be relieved and discharged from
any further duties and obligations under this Escrow Agreement.

      7. Disputes. Each of the parties hereto hereby covenants and agrees that
the Federal or state courts located in the Borough of Manhattan, State of New
York shall have jurisdiction over any dispute with the Escrow Agent or relating
to this Escrow Agreement.

      8. Expenses of the Escrow Agent. The Company agrees to pay any and all
out-of-pocket costs and expenses incurred by the Escrow Agent in connection with
all waivers, releases, discharges, satisfactions, modifications and amendments
of this Escrow Agreement, the administration and holding of the Escrow Amount
and the investment of such funds, and the enforcement, protection and
adjudication of the Escrow Agent's rights hereunder by the Escrow Agent,
including, without limitation, the out-of-pocket disbursements of the Escrow
Agent itself and expenses and costs of other attorneys it may retain, if any.
The Company shall be liable to the Escrow Agent for any expenses payable by the
Escrow Agent.

                                       2
<PAGE>

      9. Reliance on Documents and Experts. The Escrow Agent shall be entitled
to rely upon any notice, consent, certificate, affidavit, statement, paper,
document, writing or communication (which to the extent permitted hereunder may
be by telegram, cable, telex, telecopier, or telephone) reasonably believed by
it to be genuine and to have been signed, sent or made by the proper person or
persons, and upon opinions and advice of legal counsel (including itself or
counsel for any party hereto), independent public accountants and other experts
selected by the Escrow Agent and mutually acceptable to each of the Company and
the Purchasers. The Escrow Agent shall not be responsible to review the
Certificate other than to confirm that it has been signed or to determine the
clearance of checks received for the Escrow Amount.

      10. Status of the Escrow Agent, Etc. The Escrow Agent is acting under this
Escrow Agreement as a stakeholder only. No term or provision of this Escrow
Agreement is intended to create, nor shall any such term or provision be deemed
to have created, any joint venture, partnership or attorney-client relationship
between or among the Escrow Agent and the Company or the Purchasers. This Escrow
Agreement shall not be deemed to prohibit or in any way restrict the Escrow
Agent's representation of the Company, who may be advised by the Escrow Agent on
any and all matters pertaining to this Escrow Agreement. To the extent the
Purchasers have been represented by the Escrow Agent, the Purchasers hereby
waive any conflict of interest and irrevocably authorize and direct the Escrow
Agent to carry out the terms and provisions of this Escrow Agreement fairly as
to all parties, without regard to any such representation and irrespective of
the impact upon the Purchasers. The Escrow Agent's only duties are those
expressly set forth in this Escrow Agreement, and each of the Company and the
Purchasers authorize the Escrow Agent to perform those duties in accordance with
its usual practices in holding funds of its own or those of other escrows. The
Escrow Agent may exercise or otherwise enforce any of its rights, powers,
privileges, remedies and interests under this Escrow Agreement and applicable
law or perform any of its duties under this Escrow Agreement by or through its
partners, employees, attorneys, agents or designees.

      11. Exculpation. The Escrow Agent and its designees, and their respective
partners, employees, attorneys and agents, shall not incur any liability
whatsoever for the investment or disposition of funds or the taking of any other
action in accordance with the terms and provisions of this Escrow Agreement, for
any mistake or error in judgment, for compliance with any applicable law or any
attachment, order or other directive of any court or other authority
(irrespective of any conflicting term or provision of this Escrow Agreement), or
for any act or omission of any other person selected with reasonable care and
engaged by the Escrow Agent in connection with this Escrow Agreement (other than
for such Escrow Agent's or such person's own acts or omissions breaching a duty
owed to the claimant under this Escrow Agreement and amounting to gross
negligence or willful misconduct as finally determined pursuant to applicable
law by a governmental authority having jurisdiction); and each of the Company
and the Purchasers hereby waive any and all claims and actions whatsoever
against the Escrow Agent and its designees, and their respective partners,
employees, attorneys and agents, arising out of or related directly or
indirectly to any and all of the foregoing acts, omissions and circumstances.
Furthermore, the Escrow Agent and its designees, and their respective partners,
employees, attorneys and agents, shall not incur any liability (other than for a
person's own acts or omissions breaching a duty owed to the claimant under this
Escrow Agreement and amounting to willful misconduct as finally determined
pursuant to applicable law by a governmental authority having jurisdiction) for
other acts and omissions arising out of or related directly or indirectly to
this Escrow Agreement or the Escrow Amount; and each of the Company and the
Purchasers hereby expressly waive any and all claims and actions (other than
those attributable to a person's own acts or omissions breaching a duty owed to
the claimant and amounting to gross negligence or willful misconduct as finally
determined pursuant to applicable law by a governmental authority having
jurisdiction) against the Escrow Agent and its designees, and their respective
partners, employees, attorneys and agents, arising out of or related directly or
indirectly to any and all of the foregoing acts, omissions and circumstances.
The Escrow Agent's designees excludes the Purchasers for purposes hereof.

                                       3
<PAGE>

      12. Indemnification. The Escrow Agent and its designees (excluding the
Purchasers), and their respective partners, employees, attorneys and agents,
shall be indemnified, reimbursed, held harmless and, at the request of the
Escrow Agent, defended, by the Company from and against any and all claims,
liabilities, losses and expenses (including, without limitation, the reasonable
disbursements, expenses and fees of their respective attorneys) that may be
imposed upon, incurred by, or asserted against any of them, arising out of or
related directly or indirectly to this Escrow Agreement or the Escrow Amount,
except such as are occasioned by the indemnified person's own acts and omissions
breaching a duty owed to the claimant under this Escrow Agreement and amounting
to willful misconduct as finally determined pursuant to applicable law by a
governmental authority having jurisdiction.

      13. Notices. Any notice, request, demand or other communication permitted
or required to be given hereunder shall be in writing, shall be sent by one of
the following means to the addressee at the address set forth below (or at such
other address as shall be designated hereunder by notice to the other parties
and persons receiving copies, effective upon actual receipt) and shall be deemed
conclusively to have been given: (a) on the first business day following the day
timely deposited with Federal Express (or other equivalent national overnight
courier) or United States Express Mail, with the cost of delivery prepaid; (b)
on the fifth business day following the day duly sent by certified or registered
United States mail, postage prepaid and return receipt requested; or (c) when
otherwise actually delivered to the addressee.

              If to the Company:         Digital Descriptor Systems, Inc.
                                         2150 Highway 35, Suite 250
                                         Sea Girt, New Jersey  08750
                                         Attention:  President and Chief
                                                     Executive Officer
                                         Telephone:  (732) 359-0260
                                         Facsimile:  (732) 359-0265

              with a copy to:            Sichenzia Ross Friedman Ference LLP
                                         1065 Avenue of the Americas
                                         New York, New York 10018
                                         Attention:  Gregory Sichenzia, Esq.
                                         Telephone:  (212) 930-9700
                                         Facsimile:  (212) 930-9725

              If to any Purchaser:       At the address of such Purchaser set
                                         forth on Schedule A to the Escrow
                                         Agreement, with copies to such
                                         Purchaser's counsel as set forth on
                                         Schedule A or as specified in
                                         writing by such Purchaser.

                                       4
<PAGE>

              If to the Escrow Agent:    Owen Naccarato, Esq.
                                         Naccarato & Associates
                                         19600 Fairchild, Suite 260
                                         Irvine, CA  92612
                                         Telephone:  (949) 851-9261
                                         Facsimile:  (949) 851-9262

      14. Section and Other Headings. The section and other headings contained
in this Escrow Agreement are for convenience only, shall not be deemed a part of
this Escrow Agreement and shall not affect the meaning or interpretation of this
Escrow Agreement.

      15. Governing Law. This Escrow Agreement shall be governed by, and
construed and enforced in accordance with, the laws of the State of New York,
without regard to principles of conflicts of law. Each of the Company and the
Purchasers (i) hereby irrevocably submit to the jurisdiction of the United
States District Court sitting in the Southern District of New York for the
purposes of any suit, action or proceeding arising out of or relating to this
Agreement or the Purchase Agreement and (ii) hereby waive, and agree not to
assert in any such suit, action or proceeding, any claim that it is not
personally subject to the jurisdiction of such court, that the suit, action or
proceeding is brought in an inconvenient forum or that the venue of the suit,
action or proceeding is improper. Each of the Company and the Purchasers consent
to process being served in any such suit, action or proceeding by mailing a copy
thereof to such party at the address in effect for notices to it under this
Agreement and agrees that such service shall constitute good and sufficient
service of process and notice thereof. Nothing in this Section 15 shall affect
or limit any right to serve process in any other manner permitted by law.

      16. Counterparts. This Escrow Agreement may be executed by the parties
hereto in separate counterparts, each of which when so executed and delivered
shall be an original but all such counterparts shall together constitute one and
the same agreement.

      17. Resignation of Escrow Agent. The Escrow Agent may, at any time, at its
option, elect to resign its duties as Escrow Agent under this Escrow Agreement
by providing notice thereof to each of the Company and the Purchasers. In such
event, the Escrow Agent shall deposit the Escrow Amount with a successor
independent escrow agent to be appointed by (a) the Company and the Purchasers
within thirty (30) days following the receipt of notice of resignation from the
Escrow Agent, or (b) the Escrow Agent if the Company and the Purchasers shall
have not agreed on a successor escrow agent within the aforesaid 30-day period,
upon which appointment and delivery of the Escrow Amount the Escrow Agent shall
be released of and from all liability under this Escrow Agreement.

      18. Successors and Assigns; Assignment. Whenever in this Escrow Agreement
reference is made to any party, such reference shall be deemed to include the
successors, assigns and legal representatives of such party, and, without
limiting the generality of the foregoing, all representations, warranties,
covenants and other agreements made by or on behalf of each of the Company and
the Purchasers in this Escrow Agreement shall inure to the benefit of any
successor escrow agent hereunder; provided, however, that nothing herein shall
be deemed to authorize or permit the Company or the Purchasers to assign any of
its rights or obligations hereunder to any other person (whether or not an
affiliate of the Company or the Purchasers) without the written consent of each
of the other parties nor to authorize or permit the Escrow Agent to assign any
of its duties or obligations hereunder except as provided in Section 17 hereof.

                                       5
<PAGE>

      19. No Third Party Rights. The representations, warranties and other terms
and provisions of this Escrow Agreement are for the exclusive benefit of the
parties hereto, and no other person, including the creditors of the Company or
the Purchasers, shall have any right or claim against any party by reason of any
of those terms and provisions or be entitled to enforce any of those terms and
provisions against any party.

      20. No Waiver by Action, Etc. Any waiver or consent respecting any
representation, warranty, covenant or other term or provision of this Escrow
Agreement shall be effective only in the specific instance and for the specific
purpose for which given and shall not be deemed, regardless of frequency given,
to be a further or continuing waiver or consent. The failure or delay of a party
at any time or times to require performance of, or to exercise its rights with
respect to, any representation, warranty, covenant or other term or provision of
this Escrow Agreement in no manner (except as otherwise expressly provided
herein) shall affect its right at a later time to enforce any such term or
provision. No notice to or demand on either the Company or the Purchasers in any
case shall entitle such party to any other or further notice or demand in the
same, similar or other circumstances. All rights, powers, privileges, remedies
and interests of the parties under this Escrow Agreement are cumulative and not
alternatives, and they are in addition to and shall not limit (except as
otherwise expressly provided herein) any other right, power, privilege, remedy
or interest of the parties under this Escrow Agreement or applicable law.

      21. Modification, Amendment, Etc. Each and every modification and
amendment of this Escrow Agreement shall be in writing and signed by all of the
parties hereto, and each and every waiver of, or consent to any departure from,
any covenant, representation, warranty or other provision of this Escrow
Agreement shall be in writing and signed by the party granting such waiver or
consent.

      22. Entire Agreement. This Escrow Agreement contains the entire agreement
of the parties with respect to the matters contained herein and supersedes all
prior representations, agreements and understandings, oral or otherwise, among
the parties with respect to the matters contained herein.

                                       6
<PAGE>

      IN WITNESS WHEREOF, the parties hereto have executed this Escrow Agreement
on the date first written above.

                                  DIGITAL DESCRIPTOR SYSTEMS, INC.

                                  By:  /s/ Anthony R. Shupin
                                       -----------------------------------------
                                       Anthony R. Shupin
                                       President and Chief Executive Officer

                                  By:  /s/ Owen Naccarato
                                       -----------------------------------------
                                       Owen Naccarato, as escrow agent

                                  AJW PARTNERS, LLC

                                  By:  SMS Group, LLC

                                  By:  /s/ Corey S. Ribotsky
                                       -----------------------------------------
                                       Corey S. Ribotsky
                                       Manager

                                  AJW OFFSHORE, LTD.

                                  By:  First Street Manager II, LLC

                                  By:  /s/ Corey S. Ribotsky
                                       -----------------------------------------
                                       Corey S. Ribotsky
                                       Manager

                                   AJW QUALIFIED PARTNERS, LLC

                                   By:  AJW Manager, LLC

                                  By:  /s/ Corey S. Ribotsky
                                       -----------------------------------------
                                        Corey S. Ribotsky
                                        Manager

                                   NEW MILLENNIUM CAPITAL PARTNERS II, LLC

                                   By:  First Street Manager II, LLC

                                  By:  /s/ Corey S. Ribotsky
                                       -----------------------------------------
                                        Corey S. Ribotsky
                                        Manager

                                       7

<PAGE>

                                   SCHEDULE A

NAMES AND ADDRESS OF PURCHASERS
-------------------------------

AJW Partners, LLC
AJW Offshore, Ltd.
AJW Qualified Partners, LLC
New Millennium Capital Partners II, LLC
1044 Northern Boulevard
Suite 302
Roslyn, New York  11576
Attn:  Corey Ribotsky

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00075-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00075-of-00352.parquet"}]]