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EXHIBIT 10.2

         THIS  WARRANT  AND THE SHARES OF COMMON  STOCK  ISSUABLE  UPON
         EXERCISE OF THIS  WARRANT HAVE NOT BEEN  REGISTERED  UNDER THE
         SECURITIES  ACT OF 1933, AS AMENDED,  OR ANY STATE  SECURITIES
         LAWS. THIS WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE
         OF THIS WARRANT MAY NOT BE SOLD,  OFFERED FOR SALE, PLEDGED OR
         HYPOTHECATED  IN  THE  ABSENCE  OF AN  EFFECTIVE  REGISTRATION
         STATEMENT AS TO THIS WARRANT UNDER SAID ACT AND ANY APPLICABLE
         STATE  SECURITIES  LAWS OR AN OPINION  OF  COUNSEL  REASONABLY
         SATISFACTORY   TO   INCENTRA   SOLUTIONS,   INC.   THAT   SUCH
         REGISTRATION IS NOT REQUIRED.

          Right to Purchase up to __________ Shares of Common Stock of
                            Incentra Solutions, Inc.
                   (subject to adjustment as provided herein)

                          COMMON STOCK PURCHASE WARRANT

No. 2006-__                                             Issue Date: June 6, 2006

         INCENTRA SOLUTIONS, INC., a corporation organized under the laws of the
State  of  Nevada   ("ICNS"),   hereby   certifies  that,  for  value  received,
____________________,  or assigns (the  "Holder"),  is entitled,  subject to the
terms set forth below, to purchase from the Company (as defined herein) from and
after the Issue Date of this Warrant and at any time or from time to time before
5:00 p.m.,  Denver,  Colorado  time,  through the close of business June 6, 2007
(the "Expiration  Date"),  up to ______ fully paid and  nonassessable  shares of
Common Stock (as  hereinafter  defined),  at the  applicable  Exercise Price (as
defined  below) per share.  The number and  character  of such  shares of Common
Stock and the  applicable  Exercise Price per share are subject to adjustment as
provided herein.

         As used  herein  the  following  terms,  unless the  context  otherwise
requires, have the following respective meanings:

                  (a) The term "Company"  shall include ICNS and any corporation
         which shall succeed, or assume the obligations of, ICNS hereunder.

                  (b) The term "Common Stock" includes (i) the Company's  Common
         Stock,  par value $0.001 per share;  and (ii) any other securities into
         which  or for  which  any of the  securities  described  in (i)  may be
         converted  or  exchanged  pursuant  to  a  plan  of   recapitalization,
         reorganization, merger, sale of assets or otherwise.

                  (c) The term  "Other  Securities"  refers to any stock  (other
         than  Common  Stock) and other  securities  of the Company or any other
         person (corporate or otherwise) which the Holder of this Warrant at any
         time shall be  entitled  to  receive,  or shall have  received,  on the
         exercise of the Warrant,  in lieu of or in addition to Common Stock, or

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         which at any time  shall be  issuable  or shall  have  been  issued  in
         exchange  for or in  replacement  of Common  Stock or Other  Securities
         pursuant to Section 4 or otherwise.

                  (d) The "Exercise  Price"  applicable under this Warrant shall
         be $1.40 per share.

1. EXERCISE OF WARRANT.

                  1.1 NUMBER OF SHARES  ISSUABLE UPON  EXERCISE.  From and after
the date hereof, the Holder shall be entitled to receive,  upon exercise of this
Warrant  in whole or in  part,  by  delivery  of an  original  or fax copy of an
exercise notice in the form attached hereto as Exhibit A (the "Exercise Notice")
up to 142,080  shares of Common  Stock of the  Company,  subject  to  adjustment
pursuant to Section 4.

                  1.2 FAIR MARKET VALUE. For purposes  hereof,  the "Fair Market
Value" of a share of Common  Stock as of a particular  date (the  "Determination
Date") shall mean:

                  (a) If the  Company's  Common  Stock is traded on the American
         Stock  Exchange  or  another  national  exchange  or is  quoted  on the
         National  or  SmallCap   Market  of  The  Nasdaq  Stock  Market,   Inc.
         ("Nasdaq"), then the closing or last sale price, respectively, reported
         for the last business day immediately preceding the Determination Date.

                  (b)  If the  Company's  Common  Stock  is  not  traded  on the
         American Stock Exchange or another  national  exchange or on the Nasdaq
         but is traded on the National  Association of Securities Dealers,  Inc.
         Over-the-Counter  Bulletin  Board,  then the mean of the average of the
         closing  bid and  asked  prices  reported  for the  last  business  day
         immediately preceding the Determination Date.

                  (c) Except as provided in clause (d) below,  if the  Company's
         Common Stock is not publicly traded, then as the Holder and the Company
         agree or in the absence of agreement by arbitration in accordance  with
         the  rules  then in  effect of the  American  Arbitration  Association,
         before  a  single  arbitrator  to be  chosen  from a panel  of  persons
         qualified  by  education  and  training  to  pass on the  matter  to be
         decided.

                  (d) If the  Determination  Date is the date of a  liquidation,
         dissolution  or winding  up, or any event  deemed to be a  liquidation,
         dissolution or winding up pursuant to the Company's  charter,  then all
         amounts to be payable per share to holders of the Common Stock pursuant
         to the charter in the event of such liquidation, dissolution or winding
         up,  plus all other  amounts to be payable  per share in respect of the
         Common  Stock  in  liquidation  under  the  charter,  assuming  for the
         purposes of this clause (d) that all of the shares of Common Stock then
         issuable  upon  exercise  of  the  Warrant  are   outstanding   at  the
         Determination Date.

                  1.3 COMPANY  ACKNOWLEDGMENT.  The Company will, at the time of
the exercise of this Warrant, upon the request of the Holder hereof, acknowledge
in writing  its  continuing  obligation  to afford to such  Holder any rights to
which  such  Holder  shall  continue  to be  entitled  after  such  exercise  in
accordance with the provisions of this Warrant. If the Holder

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shall  fail to make  any  such  request,  such  failure  shall  not  affect  the
continuing obligation of the Company to afford to such Holder any such rights.

                  1.4 TRUSTEE FOR WARRANT  HOLDERS.  In the event that a bank or
trust  company  shall  have been  appointed  as  trustee  for the Holder of this
Warrant  pursuant to  Subsection  3.2, such bank or trust company shall have all
the powers and duties of a Warrant agent (as  hereinafter  described)  and shall
accept,  in its own name for the account of the Company or such successor person
as may be entitled thereto, all amounts otherwise payable to the Company or such
successor,  as the case may be, on  exercise  of this  Warrant  pursuant to this
Section 1.

2. PROCEDURE FOR EXERCISE.

                  2.1 DELIVERY OF STOCK  CERTIFICATES,  ETC.,  ON EXERCISE.  The
Company  agrees that the shares of Common Stock  purchased upon exercise of this
Warrant  shall be deemed to be issued to the Holder as the record  owner of such
shares as of the close of business on the date on which this Warrant  shall have
been  surrendered  and payment made for such shares in accordance  herewith.  As
soon as  practicable  after the exercise of this Warrant in full or in part, and
in any event  within  three (3)  business  days  thereafter,  the Company at its
expense  (including the payment by it of any applicable  issue taxes) will cause
to be issued in the name of and delivered to the Holder, or as such Holder (upon
payment  by  such  Holder  of any  applicable  transfer  taxes)  may  direct  in
compliance with applicable  securities  laws, a certificate or certificates  for
the number of duly and validly issued,  fully paid and  nonassessable  shares of
Common  Stock (or Other  Securities)  to which such Holder  shall be entitled on
such exercise,  plus, in lieu of any fractional share to which such Holder would
otherwise be entitled,  cash equal to such fraction  multiplied by the then Fair
Market  Value  of one  full  share,  together  with  any  other  stock  or other
securities and property  (including cash, where applicable) to which such Holder
is entitled upon such exercise pursuant to Section 1 or otherwise.

                  2.2 EXERCISE. (a) Payment may be made either (i) in cash or by
certified or official  bank check  payable to the order of the Company  equal to
the applicable  aggregate  Exercise Price, (ii) by delivery of this Warrant,  or
shares of Common Stock  and/or  Common Stock  receivable  upon  exercise of this
Warrant in accordance  with Section (b) below,  or (iii) by a combination of any
of the  foregoing  methods,  for the number of Common  Shares  specified in such
Exercise  Notice (as such  exercise  number  shall be  adjusted  to reflect  any
adjustment in the total number of shares of Common Stock  issuable to the Holder
per the  terms  of this  Warrant);  provided,  however,  that if at the  time of
delivery  of an  Exercise  Notice the shares of Common  Stock to be issued  upon
payment of the Exercise Price have been  registered  under the Securities Act of
1933,  as amended  (the  "Securities  Act"),  and are  covered  by an  effective
registration  statement under the Securities Act,  payment of the Exercise Price
may only be made  pursuant  to clause (i) above and may not be made  pursuant to
clause (ii) or (iii) above.  Upon  receipt by the Company of an Exercise  Notice
and proper payment of the aggregate  Exercise Price,  the Holder shall thereupon
be entitled to receive the number of duly authorized, validly issued, fully-paid
and  non-assessable  shares of Common Stock (or Other Securities)  determined as
provided herein.

         (b) Notwithstanding any provisions herein to the contrary,  if the Fair
Market Value of one share of Common Stock is greater than the Exercise Price (at
the date of calculation as set

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forth below),  in lieu of exercising this Warrant for cash, the Holder may elect
to receive shares equal to the value (as  determined  below) of this Warrant (or
the  portion  thereof  being  exercised)  by  surrender  of this  Warrant at the
principal  office of the Company  together with the properly  endorsed  Exercise
Notice,  in which event the Company shall issue to the Holder a number of shares
of Common Stock computed using the following formula:

         X=Y       (A-B)
                  -------
                     A

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

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

         A =          the Fair Market Value of one share of the Company's Common
                      Stock (at the date of such calculation)

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

3. EFFECT OF REORGANIZATION, ETC.; ADJUSTMENT OF EXERCISE PRICE.

                  3.1 REORGANIZATION, CONSOLIDATION, MERGER, ETC. In case at any
time or from time to time,  the Company shall (a) effect a  reorganization,  (b)
consolidate  with or  merge  into  any  other  person,  or (c)  transfer  all or
substantially all of its properties or assets to any other person under any plan
or arrangement  contemplating the dissolution of the Company, then, in each such
case,  as a condition  to the  consummation  of such a  transaction,  proper and
adequate  provision  shall be made by the  Company  whereby  the  Holder of this
Warrant,  on the exercise  hereof as provided in Section 1 at any time after the
consummation of such  reorganization,  consolidation  or merger or the effective
date of such  dissolution,  as the case may be,  shall  receive,  in lieu of the
Common  Stock (or Other  Securities)  issuable  on such  exercise  prior to such
consummation or such effective date, the stock and other securities and property
(including  cash) to which  such  Holder  would  have  been  entitled  upon such
consummation or in connection with such dissolution, as the case may be, if such
Holder had so exercised this Warrant,  immediately prior thereto, all subject to
further adjustment thereafter as provided in Section 4.

                  3.2  DISSOLUTION.  In  the  event  of any  dissolution  of the
Company  following the transfer of all or substantially all of its properties or
assets, the Company,  concurrently with any distributions made to holders of its
Common  Stock,  shall at its  expense  deliver or cause to be  delivered  to the
Holder  the stock and other  securities  and  property  (including  cash,  where
applicable)  receivable  by the Holder of this Warrant  pursuant to Section 3.1,
or, if the Holder  shall so instruct  the  Company,  to a bank or trust  company
specified  by the  Holder and having  its  principal  office in New York,  NY as
trustee for the Holder of this Warrant (the "Trustee").

                  3.3   CONTINUATION   OF   TERMS.   Upon  any   reorganization,
consolidation,  merger or transfer (and any dissolution  following any transfer)
referred to in this  Section 3, this  Warrant  shall  continue in full force and
effect and the terms hereof shall be applicable to the shares of

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stock and other  securities  and  property  receivable  on the  exercise of this
Warrant after the consummation of such  reorganization,  consolidation or merger
or the effective  date of dissolution  following any such transfer,  as the case
may be,  and  shall be  binding  upon  the  issuer  of any  such  stock or other
securities,  including,  in the case of any such transfer,  the person acquiring
all or substantially all of the properties or assets of the Company,  whether or
not such  person  shall  have  expressly  assumed  the terms of this  Warrant as
provided in Section 4. In the event this Warrant does not continue in full force
and effect after the consummation of the transactions  described in this Section
3, then the Company's securities and property (including cash, where applicable)
receivable  by the Holders of the  Warrant  will be  delivered  to Holder or the
Trustee as contemplated by Section 3.2.

                  3.4 (a)  ADJUSTMENTS  TO THE  EXERCISE  PRICE.  Except  (i) as
provided in Section  3.4(b)  hereof,  (ii) in the case of an event  described in
Section  3.4(c)  hereof and (iii) as the Holder  otherwise  agrees in writing to
waive the provisions  hereof,  if and whenever after the date hereof the Company
shall issue or sell, or is, in accordance  with this Section  3.4(a),  deemed to
have issued or sold,  any shares of Common Stock for a  consideration  per share
less than the Exercise  Price in effect  immediately  prior to such  issuance or
sale,  then,  upon such  issuance  or sale (or  deemed  issuance  or sale),  the
Exercise Price shall be reduced to the price  determined by dividing (i) the sum
of (A) the Common  Stock  Deemed  Outstanding  (as defined in  subparagraph  (x)
below)  immediately  prior to such issuance or sale (or deemed issuance or sale)
multiplied  by  the  Exercise  Price  then  in  effect  and  (B)  the  aggregate
consideration,  if any,  received by the Corporation  upon such issuance or sale
(or  deemed  issuance  or sale)  by (ii) the  Common  Stock  Deemed  Outstanding
immediately after such issuance or sale (or deemed issuance or sale).

   For purposes of this Section 3.4, the following shall also be applicable:

                  (i) ISSUANCE OF RIGHTS OR OPTIONS.  If the Company  shall,  at
         any time after the date hereof,  in any manner grant (whether  directly
         or by assumption in a merger or otherwise) any warrants or other rights
         to subscribe  for or to  purchase,  or any options for the purchase of,
         Common Stock or any stock or security  convertible into or exchangeable
         for  Common  Stock  (such  warrants,  rights or  options  being  called
         "Options"  and such  convertible  or  exchangeable  stock or securities
         being called "CONVERTIBLE Securities"),  in each case for consideration
         per share  (determined  as  provided in this  paragraph  and in Section
         3.4(vi)) hereof less than the Exercise Price then in effect, whether or
         not  such  Options  or the  right  to  convert  or  exchange  any  such
         Convertible  Securities  are  immediately  exercisable,  then the total
         maximum  number of shares of Common Stock issuable upon the exercise of
         such  Options,  or upon  conversion  or exchange  of the total  maximum
         amount of such  Convertible  Securities  issuable upon exercise of such
         Options, shall be deemed to have been issued as of the date of granting
         of such Options, at a price per share equal to the amount determined by
         dividing (A) the total  amount,  if any,  received or receivable by the
         Company as  consideration  for the granting of such  Options,  plus the
         minimum  aggregate  amount of additional  consideration  payable to the
         Corporation upon the exercise of all such Options, plus, in the case of
         such  Options  which  relate to  Convertible  Securities,  the  minimum
         aggregate amount of additional consideration,  if any, payable upon the
         issuance or sale of such Convertible Securities and upon the conversion
         or  exchange  thereof,  by (B) the  total  maximum  number of shares of
         Common  Stock  deemed  to have  been so  issued.  Except  as  otherwise
         provided

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         in Section 3.4(iii)  hereof,  no adjustment of the Exercise Price shall
         be made  upon  the  actual  issuance  of such  Common  Stock or of such
         Convertible Securities upon exercise of such Options or upon the actual
         issuance  of such  Common  Stock upon  conversion  or  exchange of such
         Convertible Securities.

                  (ii) ISSUANCE OF CONVERTIBLE SECURITIES. If the Company shall,
         at any time  after the date  hereof,  in any  manner  issue or sell any
         Convertible  Securities  for  consideration  per share  (determined  as
         provided in this paragraph and in Section 3.4(vi)) hereof less than the
         Exercise Price then in effect, whether or not the rights to exchange or
         convert any such  Convertible  Securities are immediately  exercisable,
         then the total maximum  number of shares of Common Stock  issuable upon
         conversion  or exchange  of all such  Convertible  Securities  shall be
         deemed to have been  issued as of the date of the  issuance  or sale of
         such Convertible  Securities,  at a price per share equal to the amount
         determined  by  dividing  (A) the total  amount,  if any,  received  or
         receivable by the Company as consideration  for the issuance or sale of
         such  Convertible  Securities,  plus the  minimum  aggregate  amount of
         additional  consideration,  if any,  payable  to the  Company  upon the
         conversion  or exchange  thereof,  by (B) the total  maximum  number of
         shares of Common  Stock deemed to have been so issued;  PROVIDED,  that
         (1)  except as  otherwise  provided  in  Section  3.4(iii)  hereof,  no
         adjustment of the Exercise Price shall be made upon the actual issuance
         of such Common Stock upon  conversion  or exchange of such  Convertible
         Securities  and (2) if any such  issuance  or sale of such  Convertible
         Securities  is made upon  exercise of any Options to purchase  any such
         Convertible  Securities,  no further  adjustment of the Exercise  Price
         shall be made by reason of such issuance or sale.

                  (iii)  CHANGE IN OPTION  PRICE OR  CONVERSION  RATE.  If there
         shall  occur a change  in (A) the  maximum  number  of shares of Common
         Stock  issuable in  connection  with any Option  referred to in Section
         3.4(a) or any Convertible  Securities  referred to in Section 3.4(a)(i)
         or (ii)  hereof,  (B) the  purchase  price  provided  for in any Option
         referred  to  in  Section   3.4(a)(i)   hereof,   (C)  the   additional
         consideration,  if any,  payable upon the conversion or exchange of any
         Convertible Securities referred to in Section 3.4(a)(i) or (ii) hereof,
         or (D) the rate at which Convertible  Securities referred to in Section
         3.4(a)(i)  or (ii)  hereof are  convertible  into or  exchangeable  for
         Common  Stock (in each  case,  other than in  connection  with an event
         described in Section 3.4(b) hereof),  then the Exercise Price in effect
         at the time of such event shall be adjusted to the Exercise  Price that
         would have been in effect at such time had such Options or  Convertible
         Securities that are still outstanding provided for such changed maximum
         number  of  shares,   purchase  price,   additional   consideration  or
         conversion  rate,  as the case may be, at the time  initially  granted,
         issued or sold, but only if as a result of such adjustment the Exercise
         Price then in effect is thereby reduced.

                  (iv) STOCK DIVIDENDS. If the Company, at any time or from time
         to time after the date hereof,  shall  declare or make, or fix a record
         date for the  determination  of holders  of Common  Stock  entitled  to
         receive,  a dividend or make any other  distribution  upon any stock of
         the Company payable in Common Stock, Options or Convertible Securities,
         any Common Stock,  Options or Convertible  Securities,  as the case may
         be,  issuable  in payment of such  dividend  or  distribution  shall be
         deemed  to have  been  issued or sold  without  consideration,  and the
         Exercise  Price  will be  adjusted  pursuant  to this

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         Section  3.4(a);  PROVIDED,  that  if any  adjustment  is  made  to the
         Exercise  Price as a result of the  declaration  of a dividend and such
         dividend is not  effected,  the Exercise  Price shall be  appropriately
         readjusted  to the Exercise  Price in effect had such dividend not been
         declared.

                  (v) OTHER DIVIDENDS AND DISTRIBUTIONS.  If the Company, at any
         time or from time to time after the date hereof, shall declare or make,
         or fix a record date for the  determination  of holders of Common Stock
         entitled  to  receive,  a  dividend  or other  distribution  payable in
         securities or other property of the Company other than shares of Common
         Stock,  then and in each such event provision shall be made so that the
         Holder shall receive upon exercise hereof, in addition to the number of
         shares of Common Stock receivable  thereupon,  the amount of such other
         securities of the Company or the value of such other property that they
         would have received had this Warrant been exercised for Common Stock on
         the date of such  event and had  Holder  thereafter,  during the period
         from  the date of such  event to and  including  the  conversion  date,
         retained such  securities or other  property  receivable by them during
         such period giving  application  to all  adjustments  called for during
         such period under Section 3.3 with respect to the rights of the Holder;
         and, PROVIDED,  FURTHER, however, that no such adjustment shall be made
         if the Holder simultaneously  receives a dividend or other distribution
         of such  securities or other  property in an amount equal to the amount
         of such  securities or other  property as he or she would have received
         if this Warrant had been exercised for Common Stock on the date of such
         event.

                  (vi)  CONSIDERATION FOR STOCK. If the Company,  at any time or
         from time to time after the date  hereof,  shall  issue or sell,  or is
         deemed to have issued or sold, any shares of Common Stock for cash, the
         consideration  received  therefor  shall  be  deemed  to be the  amount
         received or to be received by the  Company  therefor  (determined  with
         respect to deemed  issuances and sales in  connection  with Options and
         Convertible  Securities  in  accordance  with  clause  (A)  of  Section
         3.4(a)(i) or (ii) hereof, as appropriate). In case any shares of Common
         Stock  shall be  issued  or  sold,  or  deemed  issued  or sold,  for a
         consideration  other than cash, the amount of the  consideration  other
         than cash  received by the Company shall be deemed to be the fair value
         of  such  consideration  received  or to be  received  by  the  Company
         (determined  with respect to deemed  issuances  and sales in connection
         with Options and  Convertible  Securities in accordance with clause (A)
         of Section  3.4(a)(i)  or(ii) hereof,  as appropriate) as determined in
         good  faith  by the  Board of  Directors  of the  Company.  In case any
         Options  shall be issued in  connection  with the  issuance and sale of
         other  securities  of the  Company,  together  comprising  one integral
         transaction  in which no specific  consideration  is  allocated to such
         Options by the parties  thereto,  such Options  shall be deemed to have
         been issued for such  consideration  as determined in good faith by the
         Board of Directors of the Company.

                  (vii) RECORD DATE.  In case the Company shall take a record of
         the holders of its Common Stock for the purpose of  entitling  them (A)
         to receive a dividend or other  distribution  payable in Common  Stock,
         Options or  Convertible  Securities or (B) to subscribe for or purchase
         Common Stock, Options or Convertible Securities,  then such record date
         shall be deemed to be the date of the issuance or sale of the shares of
         Common Stock deemed to have been issued or sold upon the declaration of
         such dividend

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         or the making of such other distribution or the date of the granting of
         such right of subscription or purchase, as the case may be.

                  (viii) TREASURY  SHARES.  The number of shares of Common Stock
         outstanding at any given time shall not include shares owned or held by
         or for the account of the Company;  PROVIDED,  that the  disposition of
         any such shares shall be considered an issuance or sale of Common Stock
         for the purpose of this Section 3.4.

                  (ix) OTHER  ISSUANCES OR SALES.  In calculating any adjustment
         to the Exercise Price pursuant to this Section  3.4(a):  (A) any shares
         of Common Stock,  Options or Convertible  Securities issued or sold (or
         deemed  issued or sold  pursuant  to Section  3.4(a)(i)  or (ii) above)
         after  the  date  hereof  and  prior  to the  effective  date  of  such
         adjustment,  the issuance or sale (or deemed issuance or sale) of which
         did not  result in any  adjustment  to the  Exercise  Price  under this
         Section 3.4(a),  shall be deemed to have been issued or sold as part of
         the  issuance or sale (or deemed  issuance or sale) giving rise to such
         adjustment for the same consideration per share as the Company received
         in the  issuance or sale (or deemed  issuance  or sale)  giving rise to
         such  adjustment,  and (B) any Options or Convertible  Securities  that
         provide, as of the effective date of such adjustment,  for the issuance
         upon  exercise or  conversion  thereof of an  indeterminable  number of
         shares of Common Stock shall  (together with the shares of Common Stock
         issuable upon exercise or conversion thereof) be disregarded; PROVIDED,
         that at such time as the number of shares of Common Stock issuable upon
         exercise  or  conversion  of such  Options  or  Convertible  Securities
         becomes determinable,  the Exercise Price shall be adjusted as provided
         in Section 3.4(a)(iii) above.

                  (x) COMMON  STOCK  DEEMED  OUTSTANDING.  For  purposes of this
         Section 3.4, the term "Common Stock Deemed  Outstanding" shall mean, at
         any  time,  the  sum of (A)  the  number  of  shares  of  Common  Stock
         outstanding  immediately  prior to the date hereof  (including for this
         purpose all shares of Common Stock issuable upon exercise or conversion
         of any Options or Convertible Securities outstanding  immediately prior
         to the date  hereof),  PLUS (B) the  number of  shares of Common  Stock
         issued or sold (or deemed  issued or sold) after the date  hereof,  the
         issuance or sale of which  resulted in an  adjustment  to the  Exercise
         Price pursuant to Section 3.4(a) hereof,  PLUS (C) the number of shares
         of Common Stock deemed issued or sold pursuant to Section 3.4(a)(ix)(A)
         above; PROVIDED, that Common Stock Deemed Outstanding shall not include
         any shares of Common Stock issuable upon exercise of the Warrant.

         (b) CERTAIN  ISSUES OF COMMON STOCK  EXCEPTED.  Anything  herein to the
contrary  notwithstanding,  the  Corporation  shall not be  required to make any
adjustment of the Exercise  Price in the case of the issuance from and after the
Filing Date of (i) shares of Common  Stock upon  conversion  of the Notes,  upon
exercise of the Warrants, upon conversion of other convertible securities issued
prior to the date hereof,  or upon exercise of warrants issued prior to the date
hereof,  and (ii) up to 4,012,500  shares of Common Stock or options therefor to
directors,  officers, employees or consultants of the Company in connection with
their  service as directors of the Company,  their  employment by the Company or
their  retention as consultants by the Company,  in each case  authorized by the
Board of Directors and issued  pursuant to the

                                       8
<PAGE>

Company's  2000 Equity  Incentive  Plan,  2006 Stock Option  Plan,  or 401K Plan
("EXCLUDED SHARES").

         (c)  SUBDIVISION OR  COMBINATION  OF COMMON STOCK.  In case the Company
shall at any time after the date  hereof  subdivide  its  outstanding  shares of
Common Stock into a greater number of shares (by any stock split, stock dividend
or  otherwise),   the  Exercise  Price  in  effect  immediately  prior  to  such
subdivision  shall be  proportionately  reduced,  and,  conversely,  in case the
Company shall at any time after the date hereof combine its  outstanding  shares
of Common Stock into a smaller  number of shares (by any reverse  stock split or
otherwise),  the Exercise Price in effect  immediately prior to such combination
shall be  proportionately  increased.  In the case of any such  subdivision,  no
further adjustment shall be made pursuant to Section 3.4(a)(iv) hereof by reason
thereof.

         (d)   RECLASSIFICATION.   If  the  Company  at  any  time   shall,   by
reclassification  or  otherwise,  change  the  Common  Stock  into the same or a
different  number of  securities  of any class or classes,  this Note, as to the
unpaid Principal Amount and accrued interest thereon, shall thereafter be deemed
to evidence the right to purchase an adjusted number of such securities and kind
of  securities  as would have been  issuable  as the result of such  change with
respect to the Common Stock (i) immediately prior to or (ii) immediately  after,
such reclassification or other change at the sole election of the Holder.

4. CERTIFICATE AS TO ADJUSTMENTS. In each case of any adjustment or readjustment
in the shares of Common Stock (or Other Securities)  issuable on the exercise of
this Warrant, the Company at its expense will promptly cause its Chief Financial
Officer or other appropriate designee to compute such adjustment or readjustment
in accordance  with the terms of this Warrant and prepare a certificate  setting
forth such adjustment or readjustment and showing in detail the facts upon which
such  adjustment  or  readjustment  is based,  including a statement  of (a) the
consideration received or receivable by the Company for any additional shares of
Common Stock (or Other Securities)  issued or sold or deemed to have been issued
or sold,  (b) the  number  of shares  of  Common  Stock  (or  Other  Securities)
outstanding  or deemed to be  outstanding,  and (c) the  Exercise  Price and the
number of shares of Common Stock to be received  upon  exercise of this Warrant,
in effect  immediately  prior to such adjustment or readjustment and as adjusted
or  readjusted as provided in this Warrant.  The Company will  forthwith  mail a
copy of each such  certificate  to the Holder of this  Warrant  and any  Warrant
agent of the Company (appointed pursuant to Section 11 hereof).

5. RESERVATION OF STOCK, ETC., ISSUABLE ON EXERCISE OF WARRANT. The Company will
at all times reserve and keep available, solely for issuance and delivery on the
exercise of this Warrant, shares of Common Stock (or Other Securities) from time
to time issuable on the exercise of this Warrant.

6.  ASSIGNMENT;  EXCHANGE  OF WARRANT.  Subject to  compliance  with  applicable
securities  laws,  this  Warrant,  and  the  rights  evidenced  hereby,  may  be
transferred  by any  registered  holder hereof (a  "Transferor")  in whole or in
part.  On the  surrender  for exchange of this  Warrant,  with the  Transferor's
endorsement  in  the  form  of  Exhibit  B  attached  hereto  (the   "Transferor
Endorsement  Form") and together with evidence  reasonably  satisfactory  to the
Company  demonstrating  compliance with applicable  securities laws, which shall
include,  without  limitation,  the  provision  of  a  legal  opinion  from  the
Transferor's  counsel  that  such  transfer  is  exempt  from  the  registration

                                       9
<PAGE>

requirements of applicable  securities  laws, and with payment by the Transferor
of any applicable  transfer  taxes) will issue and deliver to or on the order of
the  Transferor  thereof  a new  Warrant  of  like  tenor,  in the  name  of the
Transferor  and/or the  transferee(s)  specified in such Transferor  Endorsement
Form  (each a  "Transferee"),  calling  in the  aggregate  on the  face or faces
thereof for the number of shares of Common Stock called for on the face or faces
of the Warrant so surrendered by the Transferor.

7. REPLACEMENT OF WARRANT. On receipt 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 or security reasonably satisfactory in form and amount to
the  Company  or,  in  the  case  of  any  such  mutilation,  on  surrender  and
cancellation  of this  Warrant,  the  Company at its  expense  will  execute and
deliver, in lieu thereof, a new Warrant of like tenor.

8.  REGISTRATION  RIGHTS.  The Holder of this Warrant has been  granted  certain
registration  rights by the Company.  These registration rights are set forth in
the  Registration  Rights Agreement dated as of June 6, 2006 entered into by the
Company  and the  initial  Holder  of this  Warrant,  as  amended,  modified  or
supplemented from time to time.

9. MAXIMUM  EXERCISE.  Notwithstanding  anything  herein to the contrary,  in no
event shall the Holder be entitled  to exercise  any portion of this  Warrant in
excess of that portion of this Warrant upon exercise of which the sum of (1) the
number of  shares  of Common  Stock  beneficially  owned by the  Holder  and its
Affiliates  (other than shares of Common Stock which may be deemed  beneficially
owned  through the  ownership of the  unexercised  portion of the Warrant or the
unexercised or  unconverted  portion of any other security of the Holder subject
to a limitation on conversion analogous to the limitations contained herein) and
(2) the  number of shares of Common  Stock  issuable  upon the  exercise  of the
portion of this Warrant with respect to which the  determination of this proviso
is being  made,  would  result in  beneficial  ownership  by the  Holder and its
Affiliates of any amount  greater than 9.99% of the then  outstanding  shares of
Common Stock (whether or not, at the time of such  exercise,  the Holder and its
Affiliates  beneficially own more than 9.99% of the then  outstanding  shares of
Common Stock).  As used herein,  the term "Affiliate" means any person or entity
that, directly or indirectly through one or more intermediaries,  controls or is
controlled by or is under common control with a person or entity,  as such terms
are used in and construed  under Rule 144 under the Securities Act. For purposes
of the proviso to the second preceding sentence,  beneficial  ownership shall be
determined in accordance  with Section 13(d) of the  Securities  Exchange Act of
1934, as amended, and Regulations 13D-G thereunder, except as otherwise provided
in clause  (1) of such  proviso.  The  limitations  set forth  herein (x) may be
waived by the Holder upon  provision of no less than  sixty-one  (61) days prior
notice to the Company and (y) shall automatically become null and void following
notice to the Company upon the occurrence and during the continuance of an Event
of Default  (as defined in either Note  referred  to in the  Purchase  Agreement
dated as of the date  hereof  among the  Holder  and the  Company  (as  amended,
modified,  restated  and/or  supplemented  from  time  to  time,  the  "Purchase
Agreement")) which has not been waived by the Holder.

10. RESTRICTION.  Notwithstanding anything to the contrary contained herein, the
Holder  hereby  agrees  that  during  the period on and after the Issue Date and
prior to the date that is the one year

                                       10
<PAGE>

anniversary  of the Issue Date, it shall not sell any Common Stock acquired upon
exercise of this Warrant.

11.  WARRANT  AGENT.  The Company  may, by written  notice to the Holder of this
Warrant,  appoint an agent for the  purpose of  issuing  Common  Stock (or Other
Securities)  on the exercise of this Warrant  pursuant to Section 1,  exchanging
this  Warrant  pursuant to Section 7, and  replacing  this  Warrant  pursuant to
Section 8, or any of the foregoing,  and thereafter any such issuance,  exchange
or replacement, as the case may be, shall be made at such office by such agent.

12.  TRANSFER ON THE COMPANY'S  BOOKS.  Until this Warrant is transferred on the
books of the Company,  the Company may treat the registered Holder hereof as the
absolute  owner  hereof  for all  purposes,  notwithstanding  any  notice to the
contrary.

13. NOTICES,  ETC. All notices and other  communications from the Company to the
Holder of this Warrant  shall be mailed by first class  registered  or certified
mail, postage prepaid, at such address as may have been furnished to the Company
in writing by such Holder or, until any such Holder  furnishes to the Company an
address, then to, and at the address of, the last Holder of this Warrant who has
so furnished an address to the Company.

14.  MISCELLANEOUS.  This  Warrant and any term  hereof may be changed,  waived,
discharged  or terminated  only by an instrument in writing  signed by the party
against which  enforcement of such change,  waiver,  discharge or termination is
sought.  This Warrant shall be governed by and construed in accordance  with the
laws of State of Colorado without regard to principles of conflicts of laws. Any
action brought concerning the transactions contemplated by this Warrant shall be
brought only in the state courts of Colorado or in the federal courts located in
the state of  Colorado.  In the event  that any  provision  of this  Warrant  is
invalid or unenforceable  under any applicable statute or rule of law, then such
provision  shall  be  deemed  inoperative  to the  extent  that it may  conflict
therewith  and shall be deemed  modified to conform with such statute or rule of
law. Any such provision which may prove invalid or  unenforceable  under any law
shall not affect the validity or  enforceability  of any other provision of this
Warrant.  The headings in this Warrant are for purposes of reference  only,  and
shall not limit or otherwise  affect any of the terms hereof.  The invalidity or
unenforceability  of any provision hereof shall in no way affect the validity or
enforceability  of any other provision  hereof.  The Company  acknowledges  that
legal counsel  participated in the  preparation of this Warrant and,  therefore,
stipulates  that the rule of  construction  that  ambiguities are to be resolved
against the drafting  party shall not be applied in the  interpretation  of this
Warrant to favor any party against the other party.

                            [SIGNATURE PAGE FOLLOWS]

                                       11
<PAGE>

         IN WITNESS  WHEREOF,  the Company has  executed  this Warrant as of the
date first written above.

                                           INCENTRA SOLUTIONS, INC.

WITNESS:
                                           By:    /s/Thomas P. Sweeney III
                                                  ------------------------------
                                           Name:  Thomas P. Sweeney III
                                                  ------------------------------
                                           Title: Chief Executive Officer
-------------------------------------             ------------------------------

                                       12
<PAGE>

                                                                       EXHIBIT A

                              FORM OF SUBSCRIPTION
                   (To Be Signed Only On Exercise Of Warrant)

TO:      INCENTRA SOLUTIONS, INC.
         1140 Pearl Street
         Boulder, CO 80302
         Attention:   Chief Financial Officer

         The  undersigned,  pursuant to the provisions set forth in the attached
Warrant (No.____), hereby irrevocably elects to purchase (check applicable box):

_________     ________ shares of the Common Stock covered by such Warrant; or

_________     the  maximum  number of shares of  Common  Stock  covered  by such
              Warrant pursuant to the cashless  exercise  procedure set forth in
              Section 2.

         The  undersigned  herewith makes payment of the full Exercise Price for
such shares at the price per share provided for in such Warrant, which is $1.40.
Such payment takes the form of (check applicable box or boxes):

_________     $__________ in lawful money of the United States; and/or

_________     the  cancellation  of such portion of the  attached  Warrant as is
              exercisable for a total of _______ shares of Common Stock (using a
              Fair  Market  Value of  $_______  per share for  purposes  of this
              calculation); and/or

_________     the  cancellation  of such number of shares of Common  Stock as is
              necessary,  in  accordance  with the  formula set forth in Section
              2.2, to exercise  this Warrant with respect to the maximum  number
              of shares of Common  Stock  purchasable  pursuant to the  cashless
              exercise procedure set forth in Section 2.

         The  undersigned  requests  that the  certificates  for such  shares be
issued in the name of, and delivered to ________________________________________
whose address is ______________________________________________________________.

         The  undersigned  represents  and Warrants that all offers and sales by
the  undersigned of the securities  issuable upon exercise of the within Warrant
shall be made pursuant to  registration of the Common Stock under the Securities
Act of 1933, as amended (the "Securities  Act") or pursuant to an exemption from
registration under the Securities Act.

Dated:   ________________________   ____________________________________________
                                    (Signature must conform to name of holder as
                                    specified on the face of the Warrant)

                                    Address: ___________________________________

                                             ___________________________________

                                       A-1
<PAGE>

                                                                       EXHIBIT B

                         FORM OF TRANSFEROR ENDORSEMENT
                   (To Be Signed Only On Transfer Of Warrant)

         For  value  received,   the  undersigned  hereby  sells,  assigns,  and
transfers  unto the person(s)  named below under the heading  "Transferees"  the
right represented by the within Warrant to purchase the percentage and number of
shares of Common Stock of INCENTRA SOLUTIONS, INC. into which the within Warrant
relates  specified  under the  headings  "Percentage  Transferred"  and  "Number
Transferred," respectively,  opposite the name(s) of such person(s) and appoints
each such  person  Attorney  to transfer  its  respective  right on the books of
INCENTRA SOLUTIONS, INC. with full power of substitution in the premises.

<TABLE>
<CAPTION>
                                                                                    Percentage            Number
 Transferees                               Address                                  Transferred         Transferred
 -----------                               -------                                  -----------         -----------
<S>                                       <C>                                    <C>                  <C>

--------------------------------------    -----------------------------------    -----------------    ----------------

--------------------------------------    -----------------------------------    -----------------    ----------------

--------------------------------------    -----------------------------------    -----------------    ----------------

--------------------------------------    -----------------------------------    -----------------    ----------------
</TABLE>

Dated: __________________________   ____________________________________________
                                    (Signature must conform to name of holder as
                                    specified on the face of the Warrant)

                                    Address: ___________________________________

                                             ___________________________________

                                    SIGNED IN THE PRESENCE OF:

                                    ____________________________________________
                                                       (Name)
ACCEPTED AND AGREED:
[TRANSFEREE]

___________________________________
              (Name)

                                       B-1EXHIBIT 10.3

                          REGISTRATION RIGHTS AGREEMENT

         REGISTRATION RIGHTS AGREEMENT, dated as of June 26, 2006, between
INCENTRA SOLUTIONS, INC., a Nevada corporation (the "Company") and the persons
or entities identified on the signature pages hereto as the "Shareholders" and
any other person or entity who may later become a party to this Agreement by
signing a Joinder Agreement in substantially the form attached hereto as Exhibit
A and their respective successors and assigns (each a "Shareholder", and
collectively "Shareholders").

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

         WHEREAS, pursuant to the terms of a Note Purchase Agreement dated as of
June 9, 2006 (the "Purchase Agreement") between the Company and Shareholders,
the Company has agreed to issue to the Shareholders Notes and Warrants
convertible into or exercisable for such number of shares of Common Stock, $.001
par value, of the Company (the "Common Stock") as determined in the Note and/or
Warrant; and

         WHEREAS, as a condition precedent to the consummation of the
transactions contemplated by the Purchase Agreement, the Company has agreed to
provide certain registration rights pursuant to the terms of this Agreement;

         NOW, THEREFORE, in consideration of the mutual covenants and
obligations hereinafter set forth, the parties hereto, intending to be legally
bound, hereby agree as follows:

         1. DEFINITIONS. For purposes of this Agreement, capitalized terms used
herein shall have the meanings set forth in the preambles hereto and in this
Section 1.

                  1.1 "COMMISSION" shall mean the Securities and Exchange
Commission or any other federal agency at the time administering the Securities
Act.

                  1.2 "COMMON STOCK" shall mean the common stock, par value
$.001 per share, of the Company or, in the case of a conversion,
reclassification or exchange of such shares of such Common Stock, shares of the
stock issued or issuable in respect of such shares of Common Stock, and all
provisions of this Agreement shall be applied appropriately thereto and to any
stock resulting therefrom.

                  1.3 "CONVERTIBLE NOTES" shall have the meaning set forth in
the Note Purchase Agreement.

                  1.4 "EFFECTIVENESS DATE" means a date no later than one
hundred fifty (150) days following the date hereof.

                  1.5 "EFFECTIVENESS PERIOD" has the meaning set forth in
Section 2(a).

                                       1
<PAGE>

                  1.6 "EXCHANGE ACT" shall mean the Securities Exchange Act of
1934, as amended, or any similar federal statute enacted hereafter, and the
rules and regulations of the Commission thereunder, all as the same shall be in
effect from time to time.

                  1.7 "FILING DATE" means a date no later than ninety (90) days
following the date hereof.

                  1.8 "HOLDER" shall mean any holder of Registrable Securities;
provided, however, that any Person who acquires any of the Registrable
Securities in a distribution pursuant to a registration statement filed by the
Company under the Securities Act or pursuant to a public sale under Rule 144
under the Securities Act or any similar or successor rule shall not be
considered a Holder.

                  1.9 "PERSON" shall mean any individual, firm, corporation,
partnership, trust, incorporated or unincorporated association, joint venture,
joint stock company, government (or an agency or political subdivision thereof)
or other entity of any kind.

                  1.10 "PROSPECTUS" means the prospectus included in the
Registration Statement (including, without limitation, a prospectus that
includes any information previously omitted from a prospectus filed as part of
an effective registration statement in reliance upon Rule 430A promulgated under
the Securities Act), as amended or supplemented by any prospectus supplement,
with respect to the terms of the offering of any portion of the Registrable
Securities covered by the Registration Statement, and all other amendments and
supplements to the Prospectus, including post-effective amendments, and all
material incorporated by reference or deemed to be incorporated by reference in
such Prospectus.

                  1.11 "REGISTER", "REGISTERED" and "REGISTRATION" shall refer
to a registration effected by preparing and filing a registration statement with
the Commission in compliance with the Securities Act and applicable rules and
regulations thereunder, and the declaration or ordering of the effectiveness of
such registration statement by the Commission.

                  1.12 "REGISTRABLE SECURITIES" shall mean the shares of Common
Stock issued to the Shareholder on conversion of the Notes and/or exercise of
the Warrants; PROVIDED, HOWEVER, that such shares of Common Stock shall only be
treated as Registrable Securities hereunder if and so long as they have not been
sold in a registered public offering or have not been sold to the public
pursuant to Rule 144 under the Securities Act or any similar or successor rule.

                  1.13 "REGISTRATION EXPENSES" shall mean all expenses incurred
by the Company in compliance herewith, including, without limitation, all
registration and filing fees, printing expenses, fees and disbursements of
counsel for the Company, blue sky fees and expenses, the reasonable fees and
expenses (subject to documentation thereof) of one counsel for all Holders and
Other Stockholders that offer securities being sold pursuant to the Existing
Rights Agreements, and the expense of any special audits incident to or required
by any such registration

                                       2
<PAGE>

(but excluding the compensation of regular employees of the Company, which shall
be paid in any event by the Company).

                  1.14 "SECURITIES ACT" shall mean the Securities Act of 1933,
as amended, or any similar federal statute enacted hereafter, and the rules and
regulations of the Commission thereunder, all as the same shall be in effect
from time to time.

                  1.15 "SELLING EXPENSES" shall mean all underwriting discounts
and commissions applicable to the sale of Registrable Securities.

         2. REGISTRATION.

         (a) On or prior to the Filing Date the Company shall prepare and file
with the Commission a Registration Statement covering the Registrable Securities
for a selling stockholder resale offering to be made on a continuous basis
pursuant to Rule 415. The Company shall cause the Registration Statement to
become effective and remain effective as provided herein. The Company shall use
its reasonable commercial efforts to cause each Registration Statement to be
declared effective under the Securities Act as promptly as possible after the
filing thereof, but in any event no later than the Effectiveness Date. The
Company shall use its reasonable commercial efforts to keep each Registration
Statement continuously effective under the Securities Act until the date which
is the earlier date of when (i) all Registrable Securities covered by such
Registration Statement have been sold, or (ii) all Registrable Securities
covered by such Registration Statement may be sold immediately without
registration under the Securities Act and without volume restrictions pursuant
to Rule 144(k), as determined by the counsel to the Company pursuant to a
written opinion letter to such effect, addressed and acceptable to the Company's
transfer agent and the affected Holders or (iii) except with respect to the
shares issuable upon the exercise of the Warrants issued in connection with the
Note, all amounts payable under the Note have been paid in full (each, an
"Effectiveness Period").

         (b) Within three business days of the Effectiveness Date, the Company
shall cause its counsel to issue a blanket opinion substantially in the form
attached hereto as Exhibit C, to the transfer agent stating that the shares are
subject to an effective registration statement and can be reissued free of
restrictive legend upon notice of a sale by the Purchaser and confirmation by
the Purchaser that it has complied with the prospectus delivery requirements,
provided that the Company or such counsel has not advised the transfer agent
orally or in writing that the opinion has been withdrawn. Copies of the blanket
opinion required by this Section 2(b) shall be delivered to the Purchaser within
the time frame set forth above.

         (c) In the event that the Registration Statement is either (i) not
filed on or before the Filing Date, or (ii) not effective on or before the
Effective Date (either event a "Filing Deficiency"), the Company shall pay to
Holder, in cash, an amount equal to two percent (2%) of the then outstanding
principal amount of Convertible Notes held by Holder, or at the election of the
Holder Common Stock equal to two percent (2%) of the number of shares acquirable
upon full conversion of the Convertible Note held by the Holder, for each thirty
(30) days, or portion thereof, that the Filing Deficiency remains uncured.

                                       3
<PAGE>

         3. EXPENSES OF REGISTRATION. All Registration Expenses incurred in
connection with any registration, qualification or compliance pursuant to
Section 2 of this Agreement shall be borne by the Company, except that Selling
Expenses shall be borne pro rata by each Holder in accordance with the number of
shares sold.

         4. REGISTRATION PROCEDURES.

                  4.1 In the case of each registration effected by the Company
pursuant to this Agreement, the Company will keep each Holder advised in writing
as to the initiation of each registration and as to the completion thereof and
will, at its expense:

                           (a) prepare and file with the Commission the
                  Registration Statement with respect to such Registrable
                  Securities, respond as promptly as possible to any comments
                  received from the Commission, and use its reasonable
                  commercial efforts to cause such Registration Statement to
                  become and remain effective for the Effectiveness Period with
                  respect thereto, and promptly provide to the Purchaser copies
                  of all filings and Commission letters of comment relating
                  thereto;

                           (b) Prepare and file with the Commission such
                  amendments and supplements to such registration statement and
                  the prospectus used in connection with such registration
                  statement as may be necessary to comply with the provisions of
                  the Securities Act with respect to the disposition of all
                  securities covered by such registration statement;

                           (c) Furnish such number of prospectuses and other
                  documents incident thereto, including any amendment of or
                  supplement to the prospectus, as a Holder from time to time
                  may reasonably request;

                           (d) Notify each seller of Registrable Securities
                  covered by such registration statement at any time when a
                  prospectus relating thereto is required to be delivered under
                  the Securities Act of the happening of any event as a result
                  of which the prospectus included in such 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
                  not misleading or incomplete in the light of the circumstances
                  then existing, and at the request of any such seller, prepare
                  and furnish to such seller a reasonable number of copies of a
                  supplement to or an amendment of such prospectus as may be
                  necessary so that, as thereafter delivered to the purchasers
                  of such shares, such prospectus shall not include an untrue
                  statement of a material fact or omit to state a material fact
                  required to be stated therein or necessary to make the
                  statements therein not misleading or incomplete in the light
                  of the circumstances then existing;

                                       4
<PAGE>

                           (e) List all such Registrable Securities registered
                  in such registration on each securities exchange or automated
                  quotation system on which the Common Stock of the Company is
                  then listed;

                           (f) Provide a transfer agent and registrar for all
                  Registrable Securities and a CUSIP number for all such
                  Registrable Securities, in each case not later than the
                  effective date of such registration;

                           (g) Make available for inspection by any seller of
                  Registrable Securities, any underwriter participating in any
                  disposition pursuant to such registration statement, and any
                  attorney or accountant retained by any such seller or
                  underwriter, all financial and other records, pertinent
                  corporate documents and properties of the Company, and cause
                  the Company's officers and directors to supply all information
                  reasonably requested by any such seller, underwriter, attorney
                  or accountant in connection with such registration statement;

                           (h) Furnish to each selling Holder upon request a
                  signed counterpart, addressed to each such selling Holder, of

                                    (i) an opinion of counsel for the Company,
                           dated the effective date of the registration
                           statement in form reasonably acceptable to the
                           Company and such counsel, and

                                    (ii) "comfort" letters signed by the
                           Company's independent public accountants who have
                           examined and reported on the Company's financial
                           statements included in the registration statement, to
                           the extent permitted by the standards of the American
                           Institute of Certified Public Accountants, covering
                           such matters as are customarily covered in opinions
                           of issuer's counsel and accountants' "comfort"
                           letters delivered to underwriters in underwritten
                           public offerings of securities;

                           (i) Furnish to each selling Holder upon request a
                  copy of all documents filed with and all correspondence from
                  or to the Commission in connection with any such offering; and

                           (j) Make available to its security holders, as soon
                  as reasonably practicable, an earnings statement covering the
                  period of at least twelve months, but not more than eighteen
                  months, beginning with the first month after the effective
                  date of the Registration Statement, which earnings statement
                  shall satisfy the provisions of Section 11(a) of the
                  Securities Act.

                  5.2 It shall be a condition precedent to the obligations of
the Company to take any action pursuant to this Agreement that the Holders
proposing to register Registrable Securities shall furnish to the Company such
information regarding themselves, the Registrable Securities held by them, and
their intended method of distribution of such Registrable Securities

                                       5
<PAGE>

as the Company shall reasonably request and as shall be required in connection
with the action to be taken by the Company; provided that no Holder shall be
required to make any representations or warranties to or agreements (other than
a lock-up agreement pursuant to Section 11) with the Company or the
underwriters, other than representations, warranties or agreements regarding the
Holder, its Registrable Securities and its intended method of distribution and
any other representation required by law.

                  5.3 In connection with the preparation and filing of each
registration statement under this Agreement, the Company will give the Holders
on whose behalf such Registrable Securities are to be registered and their
underwriters, if any, and their respective counsel and accountants, the
opportunity to review such registration statement, each prospectus included
therein or filed with the Commission, and each amendment thereof or supplement
thereto, and will give each such Holder such access to the Company's books and
records and such opportunities to discuss the business of the Company with its
officers, its counsel and the independent public accountants who have certified
the Company's financial statements, as shall be necessary, in the opinion of
such Holders or such underwriters or their respective counsel, in order to
conduct a reasonable and diligent investigation within the meaning of the
Securities Act.

         6. INDEMNIFICATION.

                  6.1 INDEMNIFICATION BY THE COMPANY. The Company will indemnify
each Holder, each of its officers, directors and partners, and each person
controlling such Holder, with respect to which registration, qualification or
compliance has been effected pursuant to this Agreement, and each underwriter,
if any, and each Person who controls any underwriter, against all claims,
losses, damages and liabilities (or actions, proceedings or settlements in
respect thereof) arising out of or based on any untrue statement (or alleged
untrue statement) of a material fact contained in any prospectus, offering
circular or other document (including any related registration statement,
notification or the like) incident to any such registration, qualification or
compliance, or based on any omission (or alleged omission) to state therein a
material fact required to be stated therein or necessary to make the statements
therein not misleading, or any violation by the Company of the Securities Act or
any rule or regulation thereunder applicable to the Company and relating to
action or inaction required of the Company in connection with any such
registration, qualification or compliance, and will reimburse each such Holder,
each of its officers, directors and partners, and each Person controlling such
Holder, each such underwriter and each Person who controls any such underwriter,
for any legal and any other expenses reasonably incurred in connection with
investigating and defending or settling any such claim, loss, damage, liability
or action, provided that the Company will not be liable in any such case to the
extent that any such claim, loss, damage, liability or expense arises out of or
is based on any untrue statement or omission made in reliance upon and based
upon written information furnished to the Company by such Holder or underwriter
and stated to be specifically for use therein.

                  6.2 INDEMNIFICATION BY THE HOLDERS. Each Holder will, if
Registrable Securities held by him are included in the securities as to which
such registration, qualification or compliance is being effected, indemnify the
Company, each of its directors and officers and each

                                       6
<PAGE>

underwriter, if any, of the Company's securities covered by such a registration
statement, each person who controls the Company (other than such Holder) or such
underwriter within the meaning of the Securities Act and the rules and
regulations thereunder, each other such Holder and each of their officers,
directors and partners, and each Person controlling such Holder or other
stockholder, against all claims, losses, damages, expenses and liabilities (or
actions in respect thereof) arising out of or based on any untrue statement (or
alleged untrue statement) of a material fact contained in any such registration
statement, prospectus, offering circular or other document, or any omission (or
alleged omission) to state therein a material fact required to be stated therein
or necessary to make the statements therein not misleading, and will reimburse
the Company, each of its directors and officers, each underwriter or control
Person, each other Holder and each of their officers, directors and partners and
each Person controlling such Holder or other stockholder for any legal or any
other expenses reasonably incurred in connection with investigating or defending
any such claim, loss, damage, liability or action, in each case to the extent,
but only to the extent, that such untrue statement (or alleged untrue statement)
or omission (or alleged omission) is made in such registration statement,
prospectus, offering circular or other document in reliance upon and in
conformity with written information furnished to the Company by such Holder and
stated to be specifically for use therein.

                  6.3 NOTICES OF CLAIMS, PROCEDURES, ETC. Each party entitled to
indemnification under this Section 6 (the "Indemnified Party") shall give notice
to the party required to provide indemnification (the "Indemnifying Party")
promptly after such Indemnified Party has actual knowledge of any claim as to
which indemnity may be sought, and shall permit the Indemnifying Party to assume
the defense of any such claim or any litigation resulting therefrom, provided
that counsel for the Indemnifying Party, who shall conduct the defense of such
claim or any litigation resulting therefrom, shall be approved by the
Indemnified Party (whose approval shall not be unreasonably withheld), and the
Indemnified Party may participate in such defense at the Indemnified Party's
sole expense, and provided further that the failure of any Indemnified Party to
give notice as provided herein shall not relieve the Indemnifying Party of its
obligations under this Section 6 unless such failure is prejudicial to the
ability of Indemnifying Party to defend such claim or action. Notwithstanding
the foregoing, such Indemnified Party shall have the right to employ its own
counsel in any such litigation, proceeding or other action if (i) the employment
of such counsel has been authorized by the Indemnifying Party, in its sole and
absolute discretion, or (ii) the named parties in any such claims (including any
impleaded parties) include any such Indemnified Party and the Indemnified Party
and the Indemnifying Party shall have been advised in writing (in suitable
detail) by counsel to the Indemnified Party either (A) that there may be one or
more legal defenses available to such Indemnified Party which are different from
or additional to those available to the Indemnifying Party, or (B) that there is
a conflict of interest by virtue of the Indemnified Party and the Indemnifying
Parties having common counsel, in any of which events, the legal fees and
expenses of a single counsel for all Indemnified Parties with respect to each
such claim, defense thereof, or counterclaims thereto shall be borne by
Indemnifying Party. No Indemnifying Party, in the defense of any such claim or
litigation, shall, except with the consent of each Indemnified Party, consent to
entry of any judgment or enter into any settlement which does not include as an
unconditional term thereof the giving by the claimant or plaintiff to such
Indemnified Party of a release from all liability in respect to such claim or
litigation. Each Indemnified Party shall cooperate to the extent reasonably
required and furnish such information

                                       7
<PAGE>

regarding itself or the claim in question as an Indemnifying Party may
reasonably request in writing and as shall be reasonably required in connection
with defense of such claim and litigation resulting therefrom.

         7. INFORMATION BY HOLDER. Each Holder of Registrable Securities shall
furnish to the Company such information regarding such Holder and the
distribution proposed by such Holder as the Company may reasonably request in
writing and as shall be reasonably required in connection with any registration,
qualification or compliance referred to in this Agreement; provided that no
Holder shall be required to make any representations or warranties to or
agreements (other than a lock-up agreement pursuant to Section 11) with the
Company or the underwriters, other than representations, warranties or
agreements regarding the Holder, its Registrable Securities and its intended
method of distribution and any other representation required by law.

         8. TRANSFER OR ASSIGNMENT OF REGISTRATION RIGHTS. The rights to cause
the Company to register securities granted by the Company under this Agreement
may be transferred or assigned by a Holder to a transferee or assignee of any
Registrable Securities; provided that the Company is given written notice at or
prior to the time of said transfer or assignment, stating the name and address
of said transferee or assignee and identifying the securities with respect to
which such registration rights are being transferred or assigned; and provided
further that the transferee or assignee of such rights assumes in writing the
obligations of a Holder under this Agreement to the Company and other Holders in
effect at the time of transfer under all effective agreements.

         9. EXCHANGE ACT COMPLIANCE. So long as the Company remains subject to
the reporting requirements of the Exchange Act, the Company shall file the
reports required to be filed by it under the Securities Act and the Exchange Act
and the rules and regulations adopted by the Commission thereunder, and will
take all actions reasonably necessary to enable holders of Registrable
Securities to sell such securities without registration under the Securities Act
within the limitation of the provisions of (a) Rule 144 under the Securities
Act, as such Rule may be amended from time to time, (b) Rule 144A under the
Securities Act, as such Rule may be amended from time to time, if applicable or
(c) any similar rules or regulations hereunder adopted by the Commission. Upon
the request of any Holder of Registrable Securities, the Company will deliver to
such Holder a written statement as to whether it has complied with such
requirements. After any sale of Registrable Securities pursuant to the
provisions of Rule 144 or 144A, the Company will, to the extent allowed by law,
cause any restrictive legends to be removed and any transfer restrictions to be
rescinded with respect to such Registrable Securities. In order to permit a
Holder to sell the same, if it so desires, pursuant to Rule 144A promulgated by
the Commission (or any successor to such rule), the Company will comply with all
rules and regulations of the Commission applicable in connection with use of
Rule 144A (or any successor thereto). Prospective transferees of Registrable
Securities that are Qualified Institutional Buyers (as defined in Rule 144A)
that would be purchasing such Registrable Securities in reliance upon Rule 144A
may request from the Company information regarding the business, operations and
assets of the Company. Within five (5) business days of any such request, the
Company shall deliver to any such prospective transferee copies of annual
audited and quarterly unaudited

                                       8
<PAGE>

financial statements of the Company and such other information as may be
required to be supplied by the Company for it to comply with Rule 144A.

         10. NO CONFLICT OF RIGHTS. The Company will not hereafter enter into
any agreement with respect to its securities which is inconsistent with the
rights granted to the Holders in this Agreement. Without limiting the generality
of the foregoing, the Company will not hereafter enter into any agreement with
respect to its securities which grants, or modifies any existing agreement with
respect to its securities to grant, to the holder of its securities equal or
higher priority to the rights granted to the Holders under Sections 2 and 3 of
this Agreement.

         11. BENEFITS OF AGREEMENT; SUCCESSORS AND ASSIGNS. This Agreement shall
be binding upon and inure to the benefit of the parties and their respective
successors and permitted assigns, legal representatives and heirs. This
Agreement does not create, and shall not be construed as creating, any rights
enforceable by any other Person.

         12. COMPLETE AGREEMENT. This Agreement constitutes the complete
understanding among the parties with respect to its subject matter and
supersedes all existing agreements and understandings, whether oral or written,
among them. No alteration or modification of any provisions of this Agreement
shall be valid unless made in writing and signed, on the one hand, by the
Holders of a majority of the Registrable Securities then outstanding and, on the
other, by the Company.

         13. SECTION HEADINGS. The section headings contained in this Agreement
are for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.

         14. NOTICES. All notices, offers, acceptances and other communications
required or permitted to be given or to otherwise be made to any party to this
Agreement shall be deemed to be sufficient if contained in a written instrument
delivered by hand, first class mail (registered or certified, return receipt
requested), telecopier or overnight air courier guaranteeing next day delivery,
if to the Company, at 1140 Pearl Street, Boulder, Colorado 80302, Attention:
Chief Financial Officer, with a copy to Reed Guest, Esq., 94 Underhill Road,
Orinda, CA 94563, and if to the Shareholders, to the respective addresses set
forth on Exhibit B attached hereto and made a part hereof, or at such other
address or addresses as may have been furnished the Company in writing.

         All such notices and communications shall be deemed to have been duly
given: at the time delivered by hand, if personally delivered; five business
days after being deposited in the mail, postage prepaid, if mailed; when receipt
acknowledged, if telecopied; and the next business day after timely delivery to
the courier, if sent by overnight air courier guaranteeing next day delivery.
Any party may change the address to which each such notice or communication
shall be sent by giving written notice to the other parties of such new address
in the manner provided herein for giving notice.

                                       9
<PAGE>

         15. GOVERNING LAW. This Agreement shall be governed by, and construed
and enforced in accordance with, the laws of the State of Colorado without
giving effect to the provisions, policies or principles thereof respecting
conflict or choice of laws.

         16. COUNTERPARTS. This Agreement may be executed in one or more
counterparts each of which shall be deemed an original but all of which taken
together shall constitute one and the same agreement.

         17. SEVERABILITY. Any provision of this Agreement which is determined
to be illegal, prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such illegality, prohibition or
unenforceability without invalidating the remaining provisions hereof which
shall be severable and enforceable according to their terms and any such
prohibition or unenforceability in any jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction.

       [REMAINDER OF PAGE INTENTINALLY LEFT BLANK; SIGNATURE PAGE FOLLOWS]

                                       10
<PAGE>

         IN WITNESS WHEREOF, the parties have signed this Agreement as of the
date first set forth above.

                                        INCENTRA SOLUTIONS, INC.

                                        By: /s/Thomas P. Sweeney III
                                            ------------------------------
                                            Name:  Thomas P. Sweeney III
                                            Title: Chief Executive Officer

                                       11
<PAGE>

SHAREHOLDER:

<TABLE>
<CAPTION>
------------------------------------------------------ ------------------ ----------------------- ---------------
                        NAME                             PURCHASE PRICE     PRINCIPAL AMOUNT OF      NUMBER OF
                                                                                    NOTE             WARRANTS
------------------------------------------------------ ------------------ ----------------------- ---------------
<S>                                                             <C>                     <C>              <C>
RAB American Opportunities Fund Limited                         $600,000                $600,000         142,800
------------------------------------------------------ ------------------ ----------------------- ---------------
</TABLE>

Signature:

By: /s/Benjamin Hill
    --------------------------
    /s/F. McGee
    --------------------------

Its: Authorized Signatories

SHAREHOLDER:

<TABLE>
<CAPTION>
------------------------------------------------------ ------------------ ----------------------- ---------------
                        Name                             Purchase Price     Principal Amount of      Number of
                                                                                    Note             Warrants
------------------------------------------------------ ------------------ ----------------------- ---------------
<S>                                                             <C>                     <C>               <C>
RAB North American Dynamic Fund                                 $250,000                $250,000          59,200
------------------------------------------------------ ------------------ ----------------------- ---------------
</TABLE>

Signature:

By: /s/Benjamin Hill
    --------------------------
    /s/F. McGee
    --------------------------

Its: Authorized Signatories

                                       12
<PAGE>

                                    EXHIBIT A

                            FORM OF JOINDER AGREEMENT

                                       13
<PAGE>

                                    EXHIBIT B

                              SHAREHOLDER ADDRESSES

                                       14
<PAGE>

                                    EXHIBIT C

                                           [Month __, 2006]

[Continental Stock Transfer
  & Trust Company
Two Broadway
New York, NY  10004
Attn:  William Seegraber]

                         Re:   INCENTRA SOLUTIONS, INC.
                               REGISTRATION STATEMENT
                               ----------------------

Ladies and Gentlemen:

         As counsel to Incentra Solutions, Inc., a Nevada corporation (the
"Company"), we have been requested to render our opinion to you in connection
with the resale by the individuals or entitles listed on Schedule A attached
hereto (the "Selling Stockholders"), of an aggregate of [amount]shares (the
"Shares") of the Company's Common Stock.

         The Company's Registration Statement (Reg. No. 333-____) (the
"Registration Statement") under the Securities Act of 1933, as amended (the
"Act"), with respect to the resale of the Shares was declared effective by the
Securities and Exchange Commission on [date]. Enclosed is a copy of the
Prospectus dated [date] included in the Registration Statement. We understand
that the Shares are to be offered and sold in the manner described in the
Prospectus.

         Based upon the foregoing, upon request by the Selling Stockholders at
any time while the Registration Statement remains effective, it is our opinion
that the Shares have been registered for resale under the Act and new
certificates evidencing the Shares upon their transfer or re-registration by the
Selling Stockholders may be issued without restrictive legend. We will advise
you if the Registration Statement is not available or effective at any point in
the future.

                                        Very truly yours,

                                        [Company counsel]

                                       15
<PAGE>

                                                                      SCHEDULE A

                                                               Shares
Selling Stockholder                                         Being Offered
-------------------                                         -------------

                                       16

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