Document:

EXHIBIT 10-d

Wells Fargo Equipment Finance, Inc.                              Promissory Note
733 Marquette Avenue, Suite 700
MAC N9306-070
Minneapolis, MN  55402
--------------------------------------------------------------------------------
                                                       Dated as of July 25, 2003

For value received, the undersigned, hereby promises to pay to the order of
Wells Fargo Equipment, Inc. (the "Lender") at its office in Minneapolis,
Minnesota, or at such other place as may be designated from time to time by the
holder hereof, the sum of $2,065,776.60 in installments according to the
schedule set forth below; provided, however, that the undersigned and the Lender
may agree to any other payment schedule, in which case any variations shall be
set forth in the space provided for additional provisions. The first payment
period shall begin on the 15th day of the month in which Lender disburses the
loan proceeds if disbursement is made on or before the 15th day of such month,
and the first payment period shall begin on the last day of such month if
disbursement is made during the balance of such month. The first installment
shall be payable on the first payment due date set forth below (which may be the
same as the date the first payment period begins). Subsequent installments shall
be payable on the first day of each payment period beginning after the first
payment period. The undersigned agrees that the date the first payment period
begins may be left blank when this Note is executed and hereby authorized Lender
to insert such date based upon the date the loan proceeds are disbursed.

<TABLE>
<CAPTION>
<S>                                                            <C>
PAYMENT SCHEDULE:
-----------------------------------------------------------------------------------------------------------------------------
Date first payment period begins:                              First payment due:
-----------------------------------------------------------------------------------------------------------------------------
Number of Installments: 60                                     Amount of each installment: $34,429.61
-----------------------------------------------------------------------------------------------------------------------------
Payment period: Monthly                                        Annual Interest rate used in computing payment schedule: 6.73%
-----------------------------------------------------------------------------------------------------------------------------
Principal amount of loan proceeds disbursed: $1,750,000.00
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>

In addition to installment payments as set forth above, the undersigned agrees
to pay Lender interim interest on the loan proceeds disbursed hereunder from the
date of disbursement to the date the first payment period begins at the annual
interest rate set forth above used in computing the payment schedule. Interim
interest shall be due and payable on the date the first payment period begins.

If any installment is not paid when due, then in addition to any other remedy
Lender may have hereunder, Lender may impose and, if imposed, the undersigned
shall pay a late charge of 5% of the amount of the delinquent installment but in
any event not more than permitted by applicable law. Payments thereafter
received shall be applied first to delinquent installments and then to current
installments.

This note may not be prepaid in whole or in part at any time.

The following shall constitute an Event of Default hereunder: (a) failure to pay
any installment hereunder when due; (b) the occurrence of an event of default as
defined in any security agreement or mortgage securing this Note; (c) the
commencement of any bankruptcy or insolvency proceedings by or against the
undersigned or any guarantor of this Note; and (d) any indebtedness the
undersigned may now or hereafter owe to Lender or any affiliate thereof shall be
accelerated following a default thereunder or, if any such indebtedness is
payable on demand, payment thereof shall be demanded. Upon the occurrence of an
Event of Default, Lender may do any one or more of the following as it may
elect: (i) upon written notice to the undersigned, declare the entire unpaid
balance of the Note to be immediately due and payable, and the same (less
unearned interest computed using the simple interest method as if this Note had
been paid in full on the date it became due and payable) shall thereupon be and
become immediately due and payable: (ii) exercise any one or more of the rights
and remedies available to it under any security agreement or mortgage securing
this Note or under any other agreement or by law.

The undersigned hereby waives presentment, notice of dishonor, and protest. The
undersigned agrees to pay all costs of collection of this Note, including
reasonable attorneys' fees. The holder hereof may change the terms of payment of
the Note by extension, renewal or otherwise, and release any security for, or
party to, this Note and such action shall not release any accommodation maker,
endorser, or guarantor from liability on this Note.

Notwithstanding anything to the contrary contained herein, if the rate of
interest, late payment fee, prepayment premium or any other charges or fees due
hereunder are determined by a court of competent jurisdiction to be usurious,
then said interest rate, fees and/or charges shall be reduced to the maximum
amount permissible under applicable law and any such excess amounts shall be
applied towards the reduction of the principal balance of this Note.

This Note shall be construed and enforced in accordance with, and the rights of
the parties shall be governed by, the laws of the State of Minnesota with regard
to conflicts of law rules.

If this Note is signed by more than one person as Debtor, then the term "Debtor"
shall refer to each of them separately and to all of them jointly, and each such
person shall be liable hereunder individually in full and jointly with the
others.

IN WITNESS WHEREOF the debtor has signed the Agreement as of the date first
above written.

Thermodynetics, Inc.                       Vulcan Industries, Inc., Debtor
-------------------------------------      -------------------------------------
Debtor                                     Debtor

-------------------------------------      -------------------------------------
By                                         By

-------------------------------------      -------------------------------------
Title                                      TitleEXHIBIT 4.15

THE SECURITIES REPRESENTED BY THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES HAVE BEEN
ACQUIRED FOR INVESTMENT AND MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED, OR
ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE
SECURITIES UNDER THE SECURITIES ACT OR APPLICABLE STATE SECURITIES LAWS, OR AN
OPINION OF COUNSEL REASONABLY ACCEPTABLE TO THE ISSUER THAT REGISTRATION IS NOT
REQUIRED.

                                     FORM OF

                        EVCI CAREER COLLEGES INCORPORATED

                          COMMON STOCK PURCHASE WARRANT

No. TM-

          EVCI CAREER COLLEGES INCORPORATED, a Delaware corporation (the
"COMPANY"), for value received, hereby certifies that ___________________, or
registered assigns (the "HOLDER"), is entitled to purchase from the Company, at
the Purchase Price, ________________ shares of its duly authorized, validly
issued, fully paid and nonassessable shares of Common Stock, par value $.0001
per share, of the Company ("COMMON STOCK"), at any time or from time to time
prior to 5:00 P.M., New York City time, on the Expiration Date, all subject to
the terms, conditions and adjustments set forth below.

          This is the Common Stock Purchase Warrant (the "WARRANT", such term to
include any such warrants issued in substitution therefor) originally issued
pursuant to the terms of the Subscription and Registration Rights Agreement,
with an Acceptance Date of August 1, 2003, between the Company and the Person to
whom this Warrant was initially issued (the "AGREEMENT"). This Warrant is
entitled to the benefits of the Agreement and is also subject to the obligations
imposed by the Agreement, including those benefits and obligations relating to
registration rights.

          Capitalized terms used herein and not otherwise defined herein shall
have the meanings assigned such terms in the Agreement.

          1. DEFINITIONS. As used herein, unless the context otherwise requires,
the following terms shall have the meanings indicated:

          "BUSINESS DAY" shall mean any day other than a Saturday or a Sunday or
a day on which commercial banking institutions in the City of New York are
authorized by law to be closed. Any reference to "days" (unless Business Days
are specified) shall mean calendar days. In any circumstance where a date of
determination under this Warrant falls on a date that is not a Business Day, it
shall be deemed to be the next Business Day.
<PAGE>

          "COMMON STOCK" shall have the meaning assigned to it in the
introduction to this Warrant, such term to include any stock into which such
Common Stock shall have been changed or any stock resulting from any
reclassification of such Common Stock, and all other stock of any class or
classes (however designated) of the Company the holders of which have the right,
without limitation as to amount, either to all or to a share of the balance of
current dividends and liquidating dividends after the payment of dividends and
distributions on any shares entitled to preference.

          "COMPANY" shall have the meaning assigned to it in the introduction to
this Warrant, such term to include any corporation or other entity which shall
succeed to or assume the obligations of the Company hereunder in compliance with
Section 4.

          "CURRENT MARKET PRICE" means the 10-day average closing bid prices as
reported on Nasdaq for a period of 10 consecutive Trading Days; provided,
however, if the Common Stock is not listed or admitted to trading on Nasdaq, as
reported on the principal national security exchange or quotation system on
which the Common Stock is quoted or listed or admitted to trading, or if not,
quoted or listed or admitted to trading on any national securities exchange or
quotation system, the closing bid price of such security on the over-the-counter
market on the day in question as reported by Bloomberg LP, or a similar
generally accepted reporting service, as the case may be; or, if not listed or
admitted for trading on any national securities exchange or quoted in the
over-the-counter market, the Fair Value on such date.

          "EXCHANGE ACT" shall mean the Securities Exchange Act of 1934, as
amended from time to time, and the rules and regulations thereunder, or any
successor statute.

          "EXPIRATION DATE" shall mean the earlier of (i) August 1, 2008, and
(ii) ten business days after notice is given to the Holder by EVCI at any time
after August 1, 2006, and not more than ten business days after the Current
Market Price is $5.00 per share.

          "PERSON" shall mean any individual, firm, partnership, corporation,
trust, joint venture, association, joint stock company, limited liability
company, unincorporated organization or any other entity or organization,
including a government or agency or political subdivision thereof, and shall
include any successor (by merger or otherwise) of such entity.

          "PURCHASE PRICE" shall mean $2.12, subject to adjustment and
readjustment from time to time as provided in Section 3, and, as so adjusted or
readjusted, shall remain in effect until a further adjustment or readjustment
thereof is required by Section 3.

          "SECURITIES ACT" shall mean the Securities Act of 1933, as amended
from time to time, and the rules and regulations thereunder, or any successor
statute.

          "WARRANT SHARES" shall mean the number of shares of Common Stock that
can be purchased upon exercise of this Warrant.

                                       2
<PAGE>

          2. EXERCISE OF WARRANT.

          2.1. MANNER OF EXERCISE; PAYMENT OF THE PURCHASE PRICE.

          (a) This Warrant may be exercised by the Holder hereof, in whole or in
part, at any time or from time to time prior to the Expiration Date, by
surrendering to the Company at its principal office this Warrant, with the form
of Election to Purchase Shares attached hereto as Exhibit A (or a reasonable
facsimile thereof) duly executed by the Holder and accompanied by payment of the
Purchase Price for the number of shares of Common Stock specified in such form.

          (b) Payment of the Purchase Price shall be made in United States
currency by cash or delivery of a certified check or bank draft payable to the
order of the Company or by wire transfer to the Company.

          2.2. WHEN EXERCISE EFFECTIVE. Each exercise of this Warrant shall be
deemed to have been effected immediately prior to the close of business on the
Business Day on which this Warrant shall have been surrendered to, and the
Purchase Price shall have been received by, the Company and at such time the
Person or Persons in whose name or names any certificate or certificates for
shares of Common Stock shall be issuable upon such exercise shall be deemed to
have become the holder or holders of record thereof for all purposes.

          2.3. DELIVERY OF STOCK CERTIFICATES, ETC.; CHARGES, TAXES AND
EXPENSES.

          (a) As soon as practicable after each exercise of this Warrant, in
whole or in part, the Company shall cause to be issued in such denominations as
may be requested by the Holder in the Election to Purchase Shares, in the name
of and delivered to the Holder or, subject to applicable securities laws, as the
Holder may direct.

               (i) a certificate or certificates for the number of Warrant
     Shares to which the Holder shall be entitled upon such exercise plus, in
     lieu of issuance of any fractional share to which the Holder would
     otherwise be entitled, a Company check pursuant to Section 7.4, and

               (ii) in case such exercise is for less than all of the Warrant
     Shares a new Warrant or Warrants of like tenor, covering the balance of the
     Warrant Shares.

          (b) Issuance of Warrant Shares upon the exercise of this Warrant shall
be made without charge to the Holder hereof for any issue tax or other
incidental expense, in respect of the issuance of such certificates, all of
which such taxes and expenses shall be paid by the Company; provided, however,
the Holder shall pay any applicable transfer or similar tax resulting from the
issuance of Warrant Shares to any Person other than the Holder.

          3. ADJUSTMENTS.

          3.1. STOCK DIVIDENDS, SPLITS. In the event that the Company shall (a)
issue additional shares of the Common Stock as a dividend or other distribution
on the outstanding Common Stock, (b) subdivide its outstanding shares of Common
Stock, or (c) combine its outstanding shares of Common Stock into a smaller

                                       3
<PAGE>

number of shares of Common Stock, then, in each such event, the Purchase Price
shall, simultaneously with the happening of such event, be adjusted by
multiplying the then Purchase Price by a fraction, the numerator of which shall
be the number of shares of Common Stock outstanding immediately prior to such
event and the denominator of which shall be the number of shares of Common Stock
outstanding immediately after such event, and the product so obtained shall
thereafter be the Purchase Price then in effect. The Purchase Price, as so
adjusted, shall be readjusted in the same manner upon the happening of any
successive event or events described herein in this Section 3. The number of
Warrant Shares that the Holder shall thereafter, be entitled to receive on the
exercise hereof as provided in Section 2, shall be increased to a number
determined by multiplying the number of Warrant Shares that would otherwise (but
for the provisions of this Section 3) be issuable on such exercise by a fraction
of which the numerator is the Purchase Price that would otherwise (but for the
provisions of this Section 3) be in effect, and the denominator is the Purchase
Price in effect on the date of such exercise.

          3.2. DE MINIMIS ADJUSTMENTS. If the amount of any adjustment of the
Purchase Price per share required pursuant to this Section 3 would be less than
$.01, such amount shall be carried forward and the adjustment with respect
thereto made at the time of and together with any subsequent adjustment which,
together with such amount and any other amount shall aggregate a change in the
Purchase Price of at least $.01 per share. All calculations under this Warrant
shall be made to the nearest .001 of a cent or to the nearest one-hundredth of a
share, as the case may be.

          4. CONSOLIDATION, MERGER, ETC.

          4.1. ADJUSTMENTS FOR CONSOLIDATION, MERGER, SALE OF ASSETS,
REORGANIZATION, ETC. In case the Company after the date hereof shall (a)
consolidate with or merge into any other Person and shall not be the continuing
or surviving corporation of such consolidation or merger, or (b) permit any
other Person to consolidate with or merge into the Company and the Company shall
be the continuing or surviving Person but, in connection with such consolidation
or merger, the Common Stock shall be changed into or exchanged for stock or
other securities of any other Person or cash or any other property, or (c)
transfer all or substantially all of its properties or assets to any other
Person in one or more related transactions, or (d) effect a capital
reorganization or reclassification of the Common Stock then, and in the case of
each such transaction, proper provision shall be made so that, upon the basis
and the terms and in the manner provided in this Warrant, the Holder of this
Warrant, upon the exercise hereof at any time after the consummation of such
transaction, shall be entitled to receive (at the aggregate Purchase Price in
effect at the time of such consummation for all Warrant Shares issuable upon
such exercise immediately prior to such consummation), in lieu of the Common
Stock issuable upon such exercise prior to such consummation, the amount of
securities, cash or other property to which such Holder would actually have been
entitled as a stockholder upon such consummation if such Holder had exercised
this Warrant immediately prior thereto, subject to adjustments (subsequent to
such consummation) as nearly equivalent as possible to the adjustments provided
for in Section 3.

          4.2. ASSUMPTION OF OBLIGATIONS. Notwithstanding anything contained in
this Warrants, the Company shall not effect any of the transactions described in
clauses (a) through (d) of Section 4.1 unless, prior to the consummation

                                       4
<PAGE>

thereof, each Person (other than the Company) which may be required to deliver
any stock, securities, cash or property upon the exercise of this Warrant as
provided herein shall assume, by written instrument delivered to, and reasonably
satisfactory to, the Holder of this Warrant, the obligations of the Company
under this Warrant (and, if the Company shall survive the consummation of such
transaction, such assumption shall be in addition to, and shall not release the
Company from, any continuing obligations of the Company under this Warrant).

          5. CERTIFICATE AS TO ADJUSTMENTS. In each case of any adjustment or
readjustment pursuant to Section 3, the Company at its expense shall promptly
compute such adjustment or readjustment in accordance with the terms of this
Warrant and prepare a certificate, signed by the Chief Financial Officer, the
Treasurer or one of the Assistant Treasurers of the Company, setting forth such
adjustment or readjustment (including but not limited to the Purchase Price and
number of Warrant Shares purchasable hereunder after giving effect to such
adjustment or readjustment) and showing in reasonable detail the method of
calculation thereof. Such certificate shall constitute an amendment to this
Warrant and shall be delivered to the Holder in the manner provided in Section
8. Upon request of the Holder, the Company shall issue a new Warrant that
reflects the terms of any such adjustment or readjustment reflected in any such
certificate issued hereunder.

          Regardless of any adjustment or readjustment in the Purchase Price or
the number of Warrant Shares or other securities actually purchasable under the
Warrant (or the issuance of any certificate with respect thereto pursuant to
this Section 5), any Warrant may continue to express the Purchase Price and the
number of Warrant Shares purchasable under the Warrant as the price and number
of shares were expressed on the Warrant when initially issued, subject to the
Holder's rights hereunder to exchange the Warrant for a new Warrant that
reflects the terms of any such adjustment or readjustment.

          6. RESERVATION OF STOCK, ETC. The Company shall at all times reserve
and keep available, solely for issuance and delivery upon exercise of the
Warrants, 100% of the number of Warrant Shares from time to time issuable upon
exercise of all Warrants at the time outstanding. All Warrant Shares issuable
upon exercise of any Warrants shall be duly authorized and, when issued upon
such exercise, shall be validly issued and, in the case of shares, fully paid
and nonassessable with no liability on the part of the holders thereof, and, in
the case of all securities, shall be free from all taxes, liens, security
interests, encumbrances, preemptive rights and charges, except for the payment
of applicable transfer or similar taxes by the Holder upon issuance to a Person
other than the Holder. Subsequent to the Expiration Date, no shares of stock
need be reserved in respect of any unexercised portion of this Warrant.

          7. REGISTRATION AND TRANSFER OF WARRANTS, ETC.

          7.1. WARRANT REGISTER; OWNERSHIP OF WARRANTS. Each Warrant issued by
the Company shall be numbered and shall be registered in a warrant register (the
"WARRANT REGISTER") as it is issued and transferred, which Warrant Register
shall be maintained by the Company at its principal office or, at the Company's
election and expense, by a warrant agent or the Company's Transfer Agent. The
Company shall be entitled to treat the registered Holder of any Warrant on the

                                       5
<PAGE>

Warrant Register as the owner in fact thereof for all purposes and shall not be
bound to recognize any equitable or other claim to or interest in such Warrant
on the part of any other Person, and shall not be affected by any notice to the
contrary, except that, if and when any Warrant is properly assigned in blank,
the Company may (but shall not be obligated to) treat the bearer thereof as the
owner of such Warrant for all purposes. A Warrant, if properly assigned, may be
exercised by a new holder without a new Warrant first having been issued.

          7.2. TRANSFER OF WARRANTS AND COMPLIANCE WITH SECURITIES LAWS.

          (a) Neither this Warrant nor any interest therein may be transferred
or assigned in whole or in part without compliance with all applicable federal
and state securities laws by the Holder and the transferee or assignee thereof.
Subject to such compliance, this Warrant and all rights hereunder are
transferable in whole or in part, without charge to the Holder hereof, upon
surrender of this Warrant with a properly executed Form of Assignment, attached
hereto as Exhibit B, at the principal office of the Company. Upon any partial
transfer, the Company shall at its expense issue and deliver to the Holder a new
Warrant of like tenor, in the name of the Holder, which shall be exercisable for
such number of shares of Common Stock with respect to which rights under this
Warrant were not so transferred and to the transferee a new Warrant of like
tenor, in the name of the transferee, which shall be exercisable for such number
of shares of Common Stock with respect to which rights under this Warrant were
so transferred.

          (b) The Holder, by acceptance of this Warrant, acknowledges that
neither this Warrant nor the Warrant Shares have been registered under the
Securities Act and represents and warrants to the Company that this Warrant is
being acquired for investment and not for distribution or resale, solely for
Holder's own account and not as a nominee for any other person, and that Holder
will not offer, sell, pledge or otherwise transfer this Warrant or any Warrant
Shares except (i) in compliance with the requirements for an available exemption
from the Securities Act and any applicable state securities laws, or (ii)
pursuant to an effective registration statement or qualification under the
Securities Act and any applicable state securities laws.

          7.3. REPLACEMENT OF WARRANTS. On receipt by the Company of evidence
reasonably satisfactory to the Company of the loss, theft, destruction or
mutilation of this Warrant and, in the case of any such loss, theft or
destruction of this Warrant, on delivery of an indemnity agreement reasonably
satisfactory in form and amount to the Company or, in the case of any such
mutilation, on surrender of such Warrant to the Company at its principal office
and cancellation thereof, the Company at its expense shall execute and deliver,
in lieu thereof, a new Warrant of like tenor.

          7.4. FRACTIONAL SHARES. Notwithstanding any adjustment pursuant to
Section 3, the Company shall not be required to issue fractions of shares upon
exercise of this Warrant or to distribute certificates which evidence fractional
shares. In lieu of fractional shares, the Company shall make payment to the
Holder of an amount in cash equal to such fraction multiplied by the closing bid
price on the principal trading market of a share of Common Stock on the date of
exercise of this Warrant.

                                       6
<PAGE>

          7.5. NO IMPAIRMENT. The Company will not, by any voluntary action,
avoid or seek to avoid the observance or performance of any of the terms to be
observed or performed hereunder by the Company, but will at all times in good
faith assist in the carrying out of all the provisions of this Warrant and in
the taking of all such action as may be necessary or appropriate in order to
protect the rights of the holders of this Warrant against impairment.

          8. NOTICES. Any notices, consents, waivers or other communications
required or permitted to be given hereunder must be in writing and will be
deemed to have been given (i) upon receipt, when delivered personally; (ii) upon
receipt, when sent by facsimile, receipt confirmed; (iii) three days after being
sent by U.S. certified mail, return receipt requested; or (iv) one day after
deposit with a nationally recognized overnight delivery service, in each case
properly addressed to the party to receive the same. The addresses and facsimile
numbers for such communications shall be:

          If to the Company:

                   EVCI Career Colleges Incorporated
                   35 East Grassy Sprain Road
                   Suite 200
                   Yonkers, New York 10710
                   Telephone:  (914) 787-3500
                   Facsimile:  (914)  395-3498
                   Attention:  Chief Financial Officer

          If to the Holder, to its address and facsimile number on the signature
page of the Agreement.

          Each party shall provide five days' prior written notice to the other
party of any change in address or facsimile number. Notwithstanding the
foregoing, the exercise of this Warrant shall be effective in the manner
provided in Section 2.

          9. AMENDMENTS. This Warrant and any term hereof may not be amended,
modified, supplemented or terminated, and waivers or consents to departures from
the provisions hereof may not be given, except by written instrument duly
executed by the party against which enforcement of such amendment, modification,
supplement, termination or consent to departure is sought.

          10. DESCRIPTIVE HEADINGS, ETC. The headings in this Warrant are for
convenience of reference only and shall not limit or otherwise affect the
meaning of terms contained herein. Unless the context of this Warrant otherwise
requires: (a) words of any gender shall be deemed to include each other gender;
(b) words using the singular or plural number shall also include the plural or
singular number, respectively; (c) the words "hereof", "herein" and "hereunder"
and words of similar import when used in this Warrant shall refer to this
Warrant as a whole and not to any particular provision of this Warrant, and
Section and paragraph references are to the Sections and paragraphs of this
Warrant unless otherwise specified; (d) the word "including" and words of

                                       7
<PAGE>

similar import when used in this Warrant shall mean "including, without
limitation," unless otherwise specified; (e) "or" is not exclusive; and (f)
provisions apply to successive events and transactions.

          11. GOVERNING LAW. This Warrant shall be governed by, and construed in
accordance with, the laws of the State of New York (without giving effect to the
conflict of laws principles thereof).

          12. JUDICIAL PROCEEDINGS. Any legal action, suit or proceeding brought
against the Company with respect to this Warrant may be brought in any court
located in Westchester County, State of New York, and by execution and delivery
of this Warrant, the Company hereby irrevocably and unconditionally waives any
claim (by way of motion, as a defense or otherwise) of improper venue, that it
is not subject personally to the jurisdiction of such court, that such courts
are an inconvenient forum or that this Warrant or its subject matter may not be
enforced in or by such court.

          IN WITNESS WHEREOF, the Company has caused this Common Stock Purchase
Warrant to be issued as of the 1st day of August, 2003.

                                       EVCI CAREER COLLEGES INCORPORATED

                                       By: /s/Dr. Arol I. Buntzman
                                          ------------------------------
                                          Name:  Dr. Arol I. Buntzman
                                          Title: Chairman

                                       8

<PAGE>

                                                                    EXHIBIT A to
                                                   COMMON STOCK PURCHASE WARRANT

                        EVCI CAREER COLLEGES INCORPORATED

                           ELECTION TO PURCHASE SHARES

          The undersigned hereby irrevocably elects to purchase _______ shares
of Common Stock, par value $.0001 per share ("Common Stock"), of EVCI CAREER
COLLEGES INCORPORATED ("EVCI") by exercising the Common Stock Purchase Warrant
(the "Warrant") dated _______________ and issued to the undersigned, and hereby
makes payment of $___________ therefor. The undersigned hereby requests that the
certificate(s) for such shares and payment for fractional shares be issued and
made as follows:

ISSUE/PAY TO*:
              ------------------------------------------------------------------
                                     (NAME)

--------------------------------------------------------------------------------
                          (ADDRESS, INCLUDING ZIP CODE)

--------------------------------------------------------------------------------
                  (SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER)

DELIVER TO:
           ---------------------------------------------------------------------
                                     (NAME)

--------------------------------------------------------------------------------
                          (ADDRESS, INCLUDING ZIP CODE)

          If the number of shares of Common Stock purchased hereby is less than
the number of shares of Common Stock covered by the Warrant, the undersigned
requests that a new Warrant representing the number of shares of Common Stock
not so purchased be issued and delivered as follows:

ISSUE TO*:
          ----------------------------------------------------------------------
                                (NAME OF HOLDER)

--------------------------------------------------------------------------------
                          (ADDRESS, INCLUDING ZIP CODE)

DELIVER TO:
           ---------------------------------------------------------------------
                                     (NAME)

--------------------------------------------------------------------------------
                          (ADDRESS, INCLUDING ZIP CODE)

          In order to induce EVCI to give instructions to its transfer agent to
issue the shares of Common Stock being purchased upon exercise of the Warrant,
the undersigned hereby represents and warrants that undersigned is an
"accredited investor" as that term is defined in Regulation D under the
Securities Act of 1933, as amended.

                            [SIGNATURE PAGE FOLLOWS]

---------------------
          * If other than the Holder specified on the Common Stock Purchase
Warrant delivered with this Election to Purchase Shares, the transfer is
subject to compliance with applicable securities laws and the payment by the
Holder of any applicable transfer or similar taxes.

                                      A-1
INDIVIDUAL(S):

----------------------------------   -------------------------------------------
Signature (exactly as name appears   Signature of spouse, joint tenant, tenant
on stock certificate(s) tendered)    in common, or other required signature

----------------------------------   -------------------------------------------
Print or type name                   Print or type name

ENTITY:

----------------------------------
Print or type name of entity
(exactly as name appears on
stock certificate(s) tendered)

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

(UNLESS WAIVED BY EVCI, ALL SIGNATURES MUST BE GUARANTEED BY AN ELIGIBLE
GUARANTOR INSTITUTION THAT IS A MEMBER OF A RECOGNIZED MEDALLION SIGNATURE
GUARANTEE PROGRAM.)

                                      A-2

<PAGE>

                                                                   EXHIBIT B to
                                                  COMMON STOCK PURCHASE WARRANT

                                   ASSIGNMENT

          FOR VALUE RECEIVED, and subject to compliance with applicable
securities laws and payment of any applicable transfer taxes, the undersigned
hereby sells, assigns, and transfers unto the Assignee named below all of the
rights of the undersigned to purchase Common Stock, par value $.0001 per share
("Common Stock") of EVCI CAREER COLLEGES INCORPORATED ("EVCI") represented by
the Warrant dated ______________, with respect to the number of shares of Common
Stock set forth below:

                                                                No. of
NAME OF ASSIGNEE                      ADDRESS                   WARRANT SHARES

and does hereby irrevocably constitute and appoint any officer of EVCI to make
such transfer on the books of EVCI maintained for that purpose, with full power
of substitution in the premises.

Date: ____________________

(UNLESS WAIVED BY EVCI, ALL SIGNATURES MUST BE GUARANTEED BY AN ELIGIBLE
GUARANTOR INSTITUTION THAT IS A MEMBER OF A RECOGNIZED MEDALLION SIGNATURE
GUARANTY PROGRAM.)

                                      B-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00055-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00055-of-00352.parquet"}]]