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                                                                   Exhibit 10.13

                          COMMON STOCK PURCHASE WARRANT

THIS WARRANT AND ANY SHARES ISSUED UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR ANY
STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED
UNLESS REGISTERED UNDER THE ACT AND ALL APPLICABLE STATE SECURITIES LAWS OR
UNLESS AN EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS IS AVAILABLE AT THE
TIME OF SUCH OFFERING, SALE OR TRANSFER.

                               CYBER DIALOGUE INC.

                          Common Stock Purchase Warrant

                                                              New York, New York
                                                           No. W-2 March 1, 1999

                  Cyber Dialogue Inc. (the "Company"), a Delaware corporation,
for value received, hereby certifies that Wand Affiliates Fund, L.P., or
registered assigns, is entitled to purchase from the Company 113 duly
authorized, validly issued, fully paid and nonassessable shares of common stock,
par value $.01 per share (the "Common Stock") of the Company at the purchase
price per share of $101.96, at any time or from time to time prior to 5:00 P.M.,
New York City time, on March 31, 2007 (or such later date as may be determined
pursuant to section 18), all subject to the terms, conditions and adjustments
set forth below in this Warrant.

                  This Warrant is the Common Stock Purchase Warrant (the
"Warrant", such term to include any such warrants issued in substitution
therefor) originally issued in connection with the issue by the Company of a 9%
Senior Convertible Note, dated March 1, 1999, to Wand Affiliates Fund, L.P. (the
"Holder"). The Warrant originally so issued evidences rights to purchase an
aggregate of 113 shares of Common Stock subject to adjustment as provided
herein. Certain capitalized terms used in this Warrant are defined in section
13; references to an "Exhibit" are, unless otherwise specified, to one of the
Exhibits attached to this Warrant and references to a "section" are, unless
otherwise specified, to one of the sections of this Warrant.

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                  1.  EXERCISE OF WARRANT.

                  1.1. MANNER OF EXERCISE. This Warrant may be exercised by the
holder hereof, in whole or in part, during normal business hours on any Business
Day, by surrender of this Warrant to the Company at its principal office,
accompanied by a subscription in substantially the form attached to this Warrant
(or a reasonable facsimile thereof) duly executed by such holder and accompanied
by payment, in cash, by certified or official bank check payable to the order of
the Company, or in the manner provided in section 1.5 or section 1.6 (or by any
combination of such methods), in the amount obtained by multiplying (a) the
number of shares of Common Stock (without giving effect to any adjustment
thereof) designated in such subscription by (b) $101.96, and such holder shall
thereupon be entitled to receive the number of duly authorized, validly issued,
fully paid and nonassessable shares of Common Stock (or Other Securities)
determined as provided in sections 2 through 4.

                  1.2. 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 the
Company as provided in section 1.1, and at such time the Person or Persons in
whose name or names any certificate or certificates for shares of Common Stock
(or Other Securities) shall be issuable upon such exercise as provided in
section 1.3 shall be deemed to have become the holder or holders of record
thereof.

                  1.3. DELIVERY OF STOCK CERTIFICATES, ETC. As soon as
practicable after each exercise from time to time of this Warrant, in whole or
in part, and in any event within five 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 hereof or, subject
to section 9, as such holder (upon payment by such holder of any applicable
transfer taxes) may direct,

                  (a) a certificate or certificates for the number of duly
         authorized, validly issued, fully paid and nonassessable shares of
         Common Stock (or Other Securities) to which such holder shall be
         entitled upon such exercise plus, in lieu of any fractional share to
         which such holder would otherwise be entitled, cash in an amount equal
         to the same fraction of the Market Price per share on the Business Day
         next preceding the date of such exercise, and

                  (b) in case such exercise is in part only, a new Warrant or
         Warrants of like tenor, calling in the aggregate on the face or faces
         thereof for

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         the number of shares of Common Stock equal (without giving effect to
         any adjustment thereof) to the number of such shares called for on the
         face of this Warrant minus the number of such shares designated by the
         holder upon such exercise as provided in section 1.1.

                  1.4. COMPANY TO REAFFIRM OBLIGATIONS. The Company will, at the
time of each exercise of this Warrant, upon the request of the holder hereof,
acknowledge in writing its continuing obligation to afford to such holder all
rights to which such holder shall continue to be entitled after such exercise in
accordance with the terms of this Warrant, PROVIDED that if the holder of this
Warrant shall fail to make any such request, such failure shall not affect the
continuing obligation of the Company to afford such rights to such holder.

                  1.5. PAYMENT BY APPLICATION OF NOTE. Upon any exercise of this
Warrant, the holder hereof may, at its option, instruct the Company, by written
notice accompanying the surrender of this Warrant at the time of such exercise,
to apply to the payment required by section 1.1 all or any part of the unpaid
principal amount including accrued but unpaid interest of any Note at the time
held by such holder, in which case the Company will accept the principal amount
specified in such notice in satisfaction of a like amount of such payment. In
case less than the entire unpaid principal amount of the Note shall be so
specified, the principal amount so specified shall be credited, as of the date
of such exercise. Upon any partial application of a Note, the Company at its
expense shall forthwith issue and deliver to or upon the order of the holder
thereof a new Note in principal amount equal to the unpaid principal amount of
such surrendered Note which has not been applied against such payment, such new
Note to be dated and to bear interest from the date to which interest has been
paid on such surrendered Note. Within two Business Days after receipt of any
such notice, the Company will pay to the holder of the Note giving such notice,
in the manner provided in the Note, all unpaid interest on the principal amount
so specified in such notice, accrued to the date of the exercise of such
Warrant.

                  1.6 PAYMENT BY APPLICATION OF SHARES OTHERWISE ISSUABLE. Upon
any exercise of this Warrant, the holder hereof may, at its option, instruct the
Company, by written notice accompanying the surrender of this Warrant at the
time of such exercise, to apply to the payment required by section 1.1 such
number of the shares of Common Stock otherwise issuable to such holder upon such
exercise as shall be specified in such notice, in which case an amount equal to
the excess of the aggregate Current Market Price of such specified number of
shares on the date of exercise over the portion of the payment required by
section 1.1 attributable to such shares shall be

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deemed to have been paid to the Company and the number of shares issuable upon
such exercise shall be reduced by such specified number.

                  2. ADJUSTMENT OF COMMON STOCK ISSUABLE UPON EXERCISE.

                  2.1. GENERAL; WARRANT PRICE. The number of shares of Common
Stock which the holder of this Warrant shall be entitled to receive upon each
exercise hereof shall be determined by multiplying the number of shares of
Common Stock which would otherwise (but for the provisions of this section 2) be
issuable upon such exercise, as designated by the holder hereof pursuant to
section 1.1, by the fraction of which (a) the numerator is $101.96 and (b) the
denominator is the Warrant Price in effect on the date of such exercise. The
"Warrant Price" shall initially be $101.96 per share, shall be adjusted and
readjusted from time to time as provided in this section 2 and, as so adjusted
or readjusted, shall remain in effect until a further adjustment or readjustment
thereof is required by this section 2.

                  2.2.  ADJUSTMENT OF WARRANT PRICE.

                  2.2.1 ISSUANCE OF ADDITIONAL SHARES OF COMMON STOCK. In case
the Company at any time or from time to time after the date hereof shall issue
or sell Additional Shares of Common Stock (including Additional Shares of Common
Stock deemed to be issued pursuant to section 2.3 or 2.4) without consideration
or for a consideration per share less than the lesser of the Current Market
Price and the Warrant Price in effect immediately prior to such issue or sale,
then, and in each such case, subject to section 2.8, such Warrant Price shall be
reduced, concurrently with such issue or sale, to a price (calculated to the
nearest .001 of a cent) determined by multiplying such Warrant Price by a
fraction

                  (a) the numerator of which shall be (I) the number of shares
         of Common Stock outstanding immediately prior to such issue or sale
         plus (II) the number of shares of Common Stock which the aggregate
         consideration received by the Company for the total number of such
         Additional Shares of Common Stock so issued or sold would purchase at
         the lesser of such Current Market Price and such Warrant Price, and

                  (b) the denominator of which shall be the number of shares of
         Common Stock outstanding immediately after such issue or sale, PROVIDED
         that, for the purposes of this section 2.2.1, (X) immediately after any
         Additional Shares of Common Stock are deemed to have been issued
         pursuant to section 2.3 or 2.4, such Additional Shares shall be deemed
         to be outstanding, and (Y) treasury shares shall not be deemed to be
         outstanding.

                  2.2.2 EXTRAORDINARY DIVIDENDS AND DISTRIBUTIONS. In case the

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Company at any time or from time to time after the date hereof shall declare,
order, pay or make a dividend or other distribution (including, without
limitation, any distribution of other or additional stock or other securities or
property or Options by way of dividend or spin-off, reclassification,
recapitalization or similar corporate rearrangement) on the Common Stock, other
than a dividend payable in Additional Shares of Common Stock, then, and in each
such case, subject to section 2.8, the Warrant Price in effect immediately prior
to the close of business on the record date fixed for the determination of
holders of any class of securities entitled to receive such dividend or
distribution shall be reduced, effective as of the close of business on such
record date, to a price (calculated to the nearest .001 of a cent) determined by
multiplying such Warrant Price by a fraction

                  (x) the numerator of which shall be the Current Market Price
         in effect on such record date or, if the Common Stock trades on an
         ex-dividend basis, on the date prior to the commencement of ex-dividend
         trading, less the amount of such dividend or distribution (as
         determined in good faith by the Board of Directors of the Company)
         applicable to one share of Common Stock, and

                  (y) the denominator of which shall be such Current Market
         Price.

                  2.3. TREATMENT OF OPTIONS AND CONVERTIBLE SECURITIES. In case
the Company at any time or from time to time after the date hereof shall issue,
sell, grant or assume, or shall fix a record date for the determination of
holders of any class of securities entitled to receive, any Options or
Convertible Securities, then, and in each such case, the maximum number of
Additional Shares of Common Stock (as set forth in the instrument relating
thereto, without regard to any provisions contained therein for a subsequent
adjustment of such number) issuable upon the exercise of such Options or, in the
case of Convertible Securities and Options therefor, the conversion or exchange
of such Convertible Securities, shall be deemed to be Additional Shares of
Common Stock issued as of the time of such issue, sale, grant or assumption or,
in case such a record date shall have been fixed, as of the close of business on
such record date (or, if the Common Stock trades on an ex-dividend basis, on the
date prior to the commencement of ex-dividend trading), PROVIDED that such
Additional Shares of Common Stock shall not be deemed to have been issued unless
the consideration per share (determined pursuant to section 2.5) of such shares
would be less than the lesser of the Current Market Price and the Warrant Price
in effect on the date of and immediately prior to such issue, sale, grant or
assumption or immediately prior to the close of business on such record date
(or, if the Common Stock trades on an ex-dividend basis, on the date prior to
the commencement of ex-dividend trading),

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as the case may be, and PROVIDED, FURTHER, that in any such case in which
Additional Shares of Common Stock are deemed to be issued

                  (a) no further adjustment of the Warrant Price shall be made
         upon the subsequent issue or sale of Convertible Securities or shares
         of Common Stock upon the exercise of such Options or the conversion or
         exchange of such Convertible Securities, except in the case of any such
         Options or Convertible Securities which contain provisions requiring an
         adjustment, subsequent to the date of the issue or sale thereof, of the
         number of Additional Shares of Common Stock issuable upon the exercise
         of such Options or the conversion or exchange of such Convertible
         Securities by reason of (X) a change of control of the Company, (Y) the
         acquisition by any Person or group of Persons of any specified number
         or percentage of the Voting Securities of the Company or (Z) any
         similar event or occurrence, each such case to be deemed hereunder to
         involve a separate issuance of Additional Shares of Common Stock,
         Options or Convertible Securities, as the case may be;

                  (b) if such Options or Convertible Securities by their terms
         provide, with the passage of time or otherwise, for any increase in the
         consideration payable to the Company, or decrease in the number of
         Additional Shares of Common Stock issuable, upon the exercise,
         conversion or exchange thereof (by change of rate or otherwise), the
         Warrant Price computed upon the original issue, sale, grant or
         assumption thereof (or upon the occurrence of the record date, or date
         prior to the commencement of ex-dividend trading, as the case may be,
         with respect thereto), and any subsequent adjustments based thereon,
         shall, upon any such increase or decrease becoming effective, be
         recomputed to reflect such increase or decrease insofar as it affects
         such Options, or the rights of conversion or exchange under such
         Convertible Securities, which are outstanding at such time;

                  (c) upon the expiration (or purchase by the Company and
         cancellation or retirement) of any such Options which shall not have
         been exercised or the expiration of any rights of conversion or
         exchange under any such Convertible Securities which (or purchase by
         the Company and cancellation or retirement of any such Convertible
         Securities the rights of conversion or exchange under which) shall not
         have been exercised, the Warrant Price computed upon the original
         issue, sale, grant or assumption thereof (or upon the occurrence of the
         record date, or date prior to the commencement of ex-dividend trading,
         as the case may be, with respect thereto), and any subsequent adjust
         ments based thereon, shall, upon such expiration (or such cancellation
         or retirement, as the case may be), be recomputed as if:

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                           (i) in the case of Options for Common Stock or
                  Convertible Securities, the only Additional Shares of Common
                  Stock issued or sold were the Additional Shares of Common
                  Stock, if any, actually issued or sold upon the exercise of
                  such Options or the conversion or exchange of such Convertible
                  Securities and the consideration received therefor was the
                  consideration actually received by the Company for the issue,
                  sale, grant or assumption of all such Options, whether or not
                  exercised, plus the consideration actually received by the
                  Company upon such exercise, or for the issue or sale of all
                  such Convertible Securities which were actually converted or
                  exchanged, plus the additional consideration, if any, actually
                  received by the Company upon such conversion or exchange, and

                           (ii) in the case of Options for Convertible
                  Securities, only the Convertible Securities, if any, actually
                  issued or sold upon the exercise of such Options were issued
                  at the time of the issue, sale, grant or assumption of such
                  Options, and the consideration received by the Company for the
                  Additional Shares of Common Stock deemed to have then been
                  issued was the consideration actually received by the Company
                  for the issue, sale, grant or assumption of all such Options,
                  whether or not exercised, plus the consideration deemed to
                  have been received by the Company (pursuant to section 2.5)
                  upon the issue or sale of such Convertible Securities with
                  respect to which such Options were actually exercised;

                  (d) no readjustment pursuant to subdivision (b) or (c) above
         shall have the effect of increasing the Warrant Price by an amount in
         excess of the amount of the adjustment thereof originally made in
         respect of the issue, sale, grant or assumption of such Options or
         Convertible Securities; and

                  (e) in the case of any such Options which expire by their
         terms not more than 30 days after the date of issue, sale, grant or
         assumption thereof, no adjustment of the Warrant Price shall be made
         until the expiration or exercise of all such Options, whereupon such
         adjustment shall be made in the manner provided in subdivision (c)
         above.

                  2.4. TREATMENT OF STOCK DIVIDENDS, STOCK SPLITS, ETC. In case
the Company at any time or from time to time after the date hereof shall declare
or pay

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any dividend on the Common Stock payable in Common Stock, or shall effect a
subdivision of the outstanding shares of Common Stock into a greater number of
shares of Common Stock (by reclassification or otherwise than by payment of a
dividend in Common Stock), then, and in each such case, Additional Shares of
Common Stock shall be deemed to have been issued (A) in the case of any such
dividend, immediately after the close of business on the record date for the
determination of holders of any class of securities entitled to receive such
dividend, or (B) in the case of any such subdivision, at the close of business
on the day immediately prior to the day upon which such corporate action becomes
effective.

                  2.5. COMPUTATION OF CONSIDERATION. For the purposes of this
section 2,

                  (a) the consideration for the issue or sale of any Additional
         Shares of Common Stock shall, irrespective of the accounting treatment
         of such consideration,

                           (i) insofar as it consists of cash, be computed at
                  the net amount of cash received by the Company, without
                  deducting any expenses paid or incurred by the Company or any
                  commissions or compensations paid or concessions or discounts
                  allowed to underwriters, dealers or others performing similar
                  services in connection with such issue or sale,

                           (ii) insofar as it consists of property (including
                  securities) other than cash, be computed at the fair value
                  thereof at the time of such issue or sale, as determined in
                  good faith by the Board of Directors of the Company (subject
                  to confirmation by a firm of independent certified public
                  accountants of recognized standing approved by the Holder),
                  and

                           (iii) in case Additional Shares of Common Stock are
                  issued or sold together with other stock or securities or
                  other assets of the Company for a consideration which covers
                  both, be the portion of such consideration so received,
                  computed as provided in clauses (i) and (ii) above, allocable
                  to such Additional Shares of Common Stock, all as determined
                  in good faith by the Board of Directors of the Company
                  (subject to confirmation by a firm of independent certified
                  public accountants of recognized standing approved by the
                  Holder);

                  (b) Additional Shares of Common Stock deemed to have been
         issued pursuant to section 2.3, relating to Options and Convertible
         Securities, shall be deemed to have been issued for a consideration per
         share determined by dividing

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                           (i) the total amount, if any, received and receivable
                  by the Company as consideration for the issue, sale, grant or
                  assumption of the Options or Convertible Securities in
                  question, plus the minimum aggregate amount of additional
                  consideration (as set forth in the instruments relating
                  thereto, without regard to any provision contained therein for
                  a subsequent adjustment of such consideration to protect
                  against dilution) payable to the Company upon the exercise in
                  full of such Options or the conversion or exchange of such
                  Convertible Securities or, in the case of Options for
                  Convertible Securities, the exercise of such Options for
                  Convertible Securities and the conversion or exchange of such
                  Convertible Securities, in each case computing such
                  consideration as provided in the foregoing subdivision (a),

by

                           (ii) the maximum number of shares of Common Stock (as
                  set forth in the instruments relating thereto, without regard
                  to any provision contained therein for a subsequent adjustment
                  of such number to protect against dilution) issuable upon the
                  exercise of such Options or the conversion or exchange of such
                  Convertible Securities; and

                  (c) Additional Shares of Common Stock deemed to have been
         issued pursuant to section 2.4, relating to stock dividends, stock
         splits, etc., shall be deemed to have been issued for no consideration.

                  2.6. ADJUSTMENTS FOR COMBINATIONS, ETC. In case the
outstanding shares of Common Stock shall be combined or consolidated, by
reclassification or otherwise, into a lesser number of shares of Common Stock,
the Warrant Price in effect immediately prior to such combination or
consolidation shall, concurrently with the effective ness of such combination or
consolidation, be proportionately increased.

                  2.7. DILUTION IN CASE OF OTHER SECURITIES. In case any Other
Securities shall be issued or sold or shall become subject to issue or sale upon
the conversion or exchange of any stock (or Other Securities) of the Company (or
any issuer of Other Securities or any other Person referred to in section 3) or
to subscription, purchase or other acquisition pursuant to any Options issued or
granted

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by the Company (or any such other issuer or Person) for a consideration such as
to dilute, on a basis consistent with the standards established in the other
provisions of this section 2, the purchase rights granted by this Warrant, then,
and in each such case, the computations, adjustments and readjustments provided
for in this section 2 with respect to the Warrant Price shall be made as nearly
as possible in the manner so provided and applied to determine the amount of
Other Securities from time to time receivable upon the exercise of the Warrants,
so as to protect the holders of the Warrants against the effect of such
dilution.

                  2.8. MINIMUM ADJUSTMENT OF WARRANT PRICE. If the amount of any
adjustment of the Warrant Price required pursuant to this section 2 would be
less than one percent (1%) of the Warrant Price in effect at the time such
adjustment is otherwise so required to be made, such amount shall be carried
forward and adjustment with respect thereto made at the time of and together
with any subsequent adjustment which, together with such amount and any other
amount or amounts so carried forward, shall aggregate at least one percent (1%)
of such Warrant Price.

                  3.  CONSOLIDATION, MERGER, ETC.

                  3.1. ADJUSTMENTS FOR CONSOLIDATION, MERGER, SALE OF ASSETS,
REORGANIZATION, ETC. In case the Company after the date hereof (A) shall
consolidate with or merge into any other Person and shall not be the continuing
or surviving corporation of such consolidation or merger, or (B) shall 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 or Other Securities shall be changed
into or exchanged for stock or other securities of any other Person or cash or
any other property, or (C) shall transfer all or substantially all of its
properties or assets to any other Person, or (D) shall effect a capital
reorganization or reclassification of the Common Stock or Other Securities
(other than a capital reorganization or reclassification resulting in the issue
of Additional Shares of Common Stock for which adjustment in the Warrant Price
is provided in section 2.2.1 or 2.2.2), 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 Warrant Price in effect at the
time of such consummation for all Common Stock or Other Securities issuable upon
such exercise immediately prior to such consummation), in lieu of the Common
Stock or Other Securities issuable upon such exercise prior to such
consummation, the highest amount of securities, cash or other property to which
such holder would actually have been entitled as a shareholder upon such
consummation if such holder had exercised the rights represented by this Warrant
immediately prior thereto, subject to adjustments (subsequent to such
consummation) as nearly equivalent as possible to the adjustments provided for
in sections 2 through 4.

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                  3.2. ASSUMPTION OF OBLIGATIONS. Notwithstanding anything
contained in this Warrant to the contrary, the Company will not effect any of
the transactions described in clauses (a) through (d) of section 3.1 unless,
prior to the consummation 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, (A)
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), and (B) the obligation to deliver to such
holder such shares of stock, securities, cash or property as, in accordance with
the foregoing provisions of this section 3, such holder may be entitled to
receive, and such Person shall have similarly delivered to such holder an
opinion of counsel for such Person, which counsel shall be reasonably
satisfactory to such holder, stating that this Warrant shall thereafter continue
in full force and effect and the terms hereof (including, without limitation,
all of the provisions of this section 3) shall be applicable to the stock,
securities, cash or property which such Person may be required to deliver upon
any exercise of this Warrant or the exercise of any rights pursuant hereto.

                  4. OTHER DILUTIVE EVENTS. In case any event shall occur as to
which the provisions of section 2 or section 3 are not strictly applicable but
the failure to make any adjustment would not fairly protect the purchase rights
represented by this Warrant in accordance with the essential intent and
principles of such sections, then, in each such case, the Company shall appoint
a firm of independent certified public accountants of recognized national
standing (such firm to be subject to the approval of the Holder), which shall
give their opinion upon the adjustment, if any, on a basis consistent with the
essential intent and principles established in sections 2 and 3, necessary to
preserve, without dilution, the purchase rights represented by this Warrant.
Upon receipt of such opinion, the Company will promptly mail a copy thereof to
the Holder and shall make the adjustments described therein.

                  5. NO DILUTION OR IMPAIRMENT. The Company will not, by
amendment of its certificate of incorporation or through any consolidation,
merger, reorganization, transfer of assets, dissolution, issue or sale of
securities or any other voluntary action, avoid or seek to avoid the observance
or performance of any of the terms of this Warrant, but will at all times in
good faith assist in the carrying out of all such terms and in the taking of all
such action as may be necessary or appropriate in order to protect the rights of
the holder of this Warrant against dilution or other

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impairment. Without limiting the generality of the foregoing, the Company (A)
will not permit the par value of any shares of stock receivable upon the
exercise of this Warrant to exceed the amount payable therefor upon such
exercise, (B) will take all such action as may be necessary or appropriate in
order that the Company may validly and legally issue fully paid and
nonassessable shares of stock on the exercise of the Warrants from time to time
outstanding, (C) will not take any action which results in any adjustment of the
Warrant Price if the total number of shares of Common Stock (or Other
Securities) issuable after the action upon the exercise of the Warrant would
exceed the total number of shares of Common Stock (or Other Securities) then
authorized by the Company's certificate of incorporation and available for the
purpose of issue upon such exercise, and (D) will not issue any capital stock of
any class which is preferred as to dividends or as to the distribution of assets
upon voluntary or involuntary dissolution, liquidation or winding-up, unless the
rights of the holders thereof shall be limited to a fixed sum or percentage of
par value or a sum determined by reference to a formula based on a published
index of interest rates, an interest rate publicly announced by a financial
institution or a similar indicator of interest rates in respect of participation
in dividends and to a fixed sum or percentage of par value in any such
distribution of assets.

                  6. ACCOUNTANTS' REPORT AS TO ADJUSTMENTS. In each case of any
adjustment or readjustment in the shares of Common Stock (or Other Securities)
issuable upon the exercise of this Warrant, the Company at its expense will
promptly compute such adjustment or readjustment in accordance with the terms of
this Warrant and cause independent certified public accountants of recognized
national standing (such firm to be subject to the approval of the Holder)
selected by the Company to verify such computation and prepare a report setting
forth such adjustment or readjustment and showing in reasonable detail the
method of calculation thereof and the facts upon which such adjustment or
readjustment is based, including a statement of (A) the consideration received
or to be received by the Company for any Additional Shares of Common Stock
issued or sold or deemed to have been issued, (B) the number of shares of Common
Stock outstanding or deemed to be outstanding, and (C) the Warrant Price in
effect immediately prior to such issue or sale and as adjusted and readjusted
(if required by section 2) on account thereof. The Company will forthwith mail a
copy of each such report to the Holder and will, upon the written request at any
time of the Holder, furnish to the Holder a like report setting forth the
Warrant Price at the time in effect and showing in reasonable detail how it was
calculated. The Company will also keep copies of all such reports at its
principal office and will cause the same to be available for inspection at such
office during normal business hours by the Holder or any prospective purchaser
of a Warrant designated by the holder thereof.

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                  7. NOTICES OF CORPORATE ACTION. In the event of:

                  (a) any taking by the Company of a record of the holders of
         any class of securities for the purpose of determining the holders
         thereof who are entitled to receive any dividend (other than a regular
         periodic dividend payable in cash out of earned surplus in an amount
         not exceeding the amount of the immediately preceding cash dividend for
         such period) or other distribution, or any right to subscribe for,
         purchase or otherwise acquire any shares of stock of any class or any
         other securities or property, or to receive any other right, or

                  (b) any capital reorganization of the Company, any
         reclassification or recapitalization of the capital stock of the
         Company or any consolidation or merger involving the Company and any
         other Person or any transfer of all or substantially all the assets of
         the Company to any other Person, or

                  (c) any voluntary or involuntary dissolution, liquidation or
         winding- up of the Company,

the Company will mail to each holder of a Warrant a notice specifying (I) the
date or expected date on which any such record is to be taken for the purpose of
such dividend, distribution or right, and the amount and character of such
dividend, distribution or right, and (II) the date or expected date on which any
such reorganization, reclassifi cation, recapitalization, consolidation, merger,
transfer, dissolution, liquidation or winding-up is to take place and the time,
if any such time is to be fixed, as of which the holders of record of Common
Stock (or Other Securities) shall be entitled to exchange their shares of Common
Stock (or Other Securities) for the securities or other property deliverable
upon such reorganization, reclassification, recapitalization, consolidation,
merger, transfer, dissolution, liquidation or winding-up. Such notice shall be
mailed at least 45 days prior to the date therein specified.

                  8. REGISTRATION OF COMMON STOCK. If any shares of Common Stock
(or Other Securities) required to be reserved for purposes of exercise of this
Warrant require registration with or approval of any governmental authority
under any federal or state law (other than the Securities Act) before such
shares may be issued upon exercise, the Company will, at its expense and as
expeditiously as possible, use its best efforts to cause such shares to be duly
registered or approved, as the case may be. At any such time as Common Stock is
listed on any national securities exchange,

<PAGE>

the Company will, at its expense, obtain promptly and maintain the approval for
listing on each such exchange, upon official notice of issuance, the shares of
Common Stock issuable upon exercise of the then outstanding Warrants and
maintain the listing of such shares after their issuance; and the Company will
also list on such national securities exchange, will register under the Exchange
Act and will maintain such listing of, any Other Securities that at any time are
issuable upon exercise of the Warrants, if and at the time that any securities
of the same class shall be listed on such national securities exchange by the
Company.

                  9.  RESTRICTIONS ON TRANSFER.

                  9.1. RESTRICTIVE LEGENDS. Except as otherwise permitted by
this section 9, each Warrant (including each Warrant issued upon the transfer of
any Warrant) shall be stamped or otherwise imprinted with a legend in
substantially the following form:

                  "This Warrant and any shares acquired upon the exercise of
         this Warrant have not been registered under the Securities Act of 1933,
         as amended, and may not be transferred, sold or otherwise disposed of
         except while a registration under such Act is in effect or pursuant to
         an exemption therefrom under such Act. This Warrant and such shares may
         be transferred only in compliance with the conditions specified in this
         Warrant."

Except as otherwise permitted by this section 9, each certificate for Common
Stock (or Other Securities) issued upon the exercise of any Warrant, and each
certificate issued upon the transfer of any such Common Stock (or Other
Securities), shall be stamped or otherwise imprinted with a legend in
substantially the following form:

                  "The shares represented by this certificate have not been
         registered under the Securities Act of 1933 and may not be transferred
         in the absence of such registration or an exemption therefrom under
         such Act. Such shares may be transferred only in compliance with the
         conditions specified in certain Common Stock Purchase Warrants issued
         by Cyber Dialogue Inc. A complete and correct copy of the form of such
         Warrant is available for inspection at the principal office of Cyber
         Dialogue Inc. or at the office or agency maintained by Cyber Dialogue
         Inc. as provided in such Warrant and will be furnished to the holder of
         such shares upon written request and without charge."

<PAGE>

                  10. AVAILABILITY OF INFORMATION. If the Company shall have
filed a registration statement pursuant to the requirements of Section 12 of the
Exchange Act or a registration statement pursuant to the requirements of the
Securities Act, the Company will comply with the reporting requirements of
Sections 13 and 15(d) of the Exchange Act and will comply with all other public
information reporting requirements of the Commission (including Rule 144 adopted
by the Commission under the Securities Act) from time to time in effect and
relating to the availability of an exemption from the Securities Act for the
sale of any Common Stock. The Company will furnish to each holder of any
Warrants, promptly upon their becoming available, copies of all financial
statements, reports, notices and proxy statements sent or made available
generally by the Company to its stockholders, and copies of all regular and
periodic reports and all registration statements and prospectuses filed by the
Company with any securities exchange or with the Commission.

                  11. RESERVATION OF STOCK, ETC. The Company will at all times
reserve and keep available, solely for issuance and delivery upon exercise of
the Warrants, the number of shares of Common Stock (or Other Securities) from
time to time issuable upon exercise of all Warrants at the time outstanding. All
shares of Common Stock (or Other Securities) 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.

                  12. REGISTRATION AND TRANSFER OF WARRANTS, ETC.

                  12.1. WARRANT REGISTER; OWNERSHIP OF WARRANTS. The Company
will keep at its principal office a register in which the Company will provide
for the registration of Warrants and the registration of transfers of Warrants.
The Company may treat the Person in whose name any Warrant is registered on such
register as the owner thereof for all other purposes, and the Company 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. Subject
to section 9, a Warrant, if properly assigned, may be exercised by a new holder
without a new Warrant first having been issued.

                  12.2. TRANSFER AND EXCHANGE OF WARRANTS. Upon surrender of any
Warrant for registration of transfer or for exchange to the Company at its
principal office, the Company at its expense will (subject to compliance with
section 9, if applicable) execute and deliver in exchange therefor a new Warrant
or Warrants of

<PAGE>

like tenor, in the name of such holder or as such holder (upon payment by such
holder of any applicable transfer taxes) may direct, 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 or Warrants so surrendered.

                  12.3. REPLACEMENT OF WARRANTS. Upon receipt of evidence
reasonably satisfactory to the Company of the loss, theft, destruction or
mutilation of any Warrant and, in the case of any such loss, theft or
destruction of any Warrant, upon delivery of an indemnity bond in such
reasonable amount as the Company may determine or, in the case of any such
mutilation, upon the surrender of such Warrant for cancellation to the Company
at its principal office, the Company at its expense will execute and deliver, in
lieu thereof, a new Warrant of like tenor.

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

                  ADDITIONAL SHARES OF COMMON STOCK: All shares (including
treasury shares) of Common Stock issued or sold (or, pursuant to section 2.3 or
2.4, deemed to be issued) by the Company after the date hereof, whether or not
subsequently reacquired or retired by the Company, other than

                  (a) shares issued upon the exercise of the Warrants,

                  (b) not to exceed 20,000 shares (as constituted on such date)
         issued upon the exercise of options granted or to be granted under the
         Company's stock option plans as in effect on the date hereof or under
         any other employee stock option or purchase plan or plans adopted or
         assumed after such date that represent 20% of the fully-diluted
         ownership of the Company and 25% of the currently outstanding ownership
         of the Company as of the date herein.

                  (c) such additional number of shares as may become issuable
         upon the exercise of any of the securities referred to in the foregoing
         clauses (a) and (b) by reason of adjustments required pursuant to
         anti-dilution provisions applicable to such securities as in effect on
         the date hereof, but only if and to the extent that such adjustments
         are required as the result of the original issuance of the Warrants,
         and

                  (d) such additional number of shares as may become issuable
         upon the exercise of any of the securities referred to in the foregoing
         clauses (a) and (b) by reason of adjustments required pursuant to
         anti-dilution provisions applicable to such securities as in effect on
         the date hereof, in order to reflect any subdivision or combination of
         Common Stock, by reclassification or otherwise, or any dividend on
         Common Stock payable in Common Stock.

<PAGE>

                  BUSINESS DAY: 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.

                  COMMISSION: The Securities and Exchange Commission or any
other federal agency at the time administering the Securities Act.

                  COMMON STOCK: As defined 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: As defined in the introduction to this Warrant, such
term to include any corporation which shall succeed to or assume the obligations
of the Company hereunder in compliance with section 3.

                  CONVERTIBLE SECURITIES: Any evidences of indebtedness, shares
of stock (other than Common Stock) or other securities directly or indirectly
convertible into or exchangeable for Additional Shares of Common Stock.

                  CURRENT MARKET PRICE: On any date specified herein, the
average daily Market Price during the period of the most recent 20 days, ending
on such date, on which the national securities exchanges were open for trading,
except that if no Common Stock is then listed or admitted to trading on any
national securities exchange or quoted in the over-the-counter market, the
Current Market Price shall be the Market Price on such date.

                  EXCHANGE ACT: The Securities Exchange Act of 1934, or any
similar federal statute, and the rules and regulations of the Commission
thereunder, all as the same shall be in effect at the time.

                  MARKET PRICE: On any date specified herein, the amount per
share of the Common Stock, equal to (a) the last sale price of such Common
Stock, regular way, on such date or, if no such sale takes place on such date,
the average of the closing bid and asked prices thereof on such date, in each
case as officially reported

<PAGE>

on the principal national securities exchange on which such Common Stock is then
listed or admitted to trading, or (b) if such Common Stock is not then listed or
admitted to trading on any national securities exchange but is designated as a
national market system security by the NASD, the last trading price of the
Common Stock on such date, or (c) if there shall have been no trading on such
date or if the Common Stock is not so designated, the average of the closing bid
and asked prices of the Common Stock on such date as shown by the NASD automated
quotation system, or (d) if such Common Stock is not then listed or admitted to
trading on any national exchange or quoted in the over-the-counter market, the
value as determined by a firm of independent public accountants of recognized
standing selected by the Board of Directors of the Company, and approved by the
Holder, as of the last day of any month ending within 30 days preceding the date
as of which the determination is to be made.

                  NASD: The National Association of Securities Dealers, Inc.

                  NOTE: The 9% Senior Convertible Promissory Note, due September
30, 1999, of the Company originally issued to the Holder, such term to include
any such notes issued in substitution for such note.

                  OPTIONS: Rights, options or warrants to subscribe for,
purchase or otherwise acquire either Additional Shares of Common Stock or
Convertible Securities.

                  OTHER SECURITIES: Any stock (other than Common Stock) and
other securities of the Company or any other Person (corporate or otherwise)
which the holders of the Warrants at any time shall be entitled to receive, or
shall have received, upon the exercise of the Warrants, in lieu of or in
addition to Common Stock, or 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 3 or otherwise.

                  PERSON: A corporation, an association, a limited liability
company, a partnership, an organization, a business, an individual, a government
or political subdivision thereof or a governmental agency.

                  SECURITIES ACT: The Securities Act of 1933, or any similar
federal statute, and the rules and regulations of the Commission thereunder, all
as the same shall be in effect at the time.

                  TRANSFER: Any sale, assignment, pledge or other disposition of
any security, or of any interest therein, which could constitute a "sale" as
that term is defined in section 2(3) of the Securities Act.

<PAGE>

                  WARRANT PRICE: As defined in section 2.1.

                  WARRANTS: As defined in the introduction to this Warrant.

                  14. REMEDIES. The Company stipulates that the remedies at law
of the holder of this Warrant in the event of any default or threatened default
by the Company in the performance of or compliance with any of the terms of this
Warrant are not and will not be adequate and that, to the fullest extent
permitted by law, such terms may be specifically enforced by a decree for the
specific performance of any agreement contained herein or by an injunction
against a violation of any of the terms hereof or otherwise.

                  15. NO RIGHTS OR LIABILITIES AS STOCKHOLDER. Nothing contained
in this Warrant shall be construed as conferring upon the holder hereof any
rights as a stock holder of the Company or as imposing any obligation on such
holder to purchase any securities or as imposing any liabilities on such holder
as a stockholder of the Company, whether such obligation or liabilities are
asserted by the Company or by creditors of the Company.

                  16. NOTICES. All notices and other communications under this
Warrant shall be in writing and shall be delivered, or mailed by registered or
certified mail, return receipt requested, by a nationally recognized overnight
courier, postage prepaid, addressed (A) if to any holder of any Warrant, at the
registered address of such holder as set forth in the register kept at the
principal office of the Company, or (B) if to the Company, to the attention of
its President at its principal office, PROVIDED that the exercise of any Warrant
shall be effective in the manner provided in section 1.

                  17. AMENDMENTS. 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.

                  18. EXPIRATION. The Company will give the holder of this
Warrant not less than six weeks nor more than two months notice of the
expiration of the right to exercise this Warrant. The right to exercise this
Warrant shall expire at 5:00 P.M., New York City time, on March 31, 2007, unless
the Company shall fail to give such notice as aforesaid, in which event the
right to exercise this Warrant shall not expire until a date six weeks after the
date on which the Company shall give the holder hereof notice of the expiration
of the right to exercise this Warrant.
<PAGE>
                  19. DESCRIPTIVE HEADINGS. The headings in this Agreement are
for purposes of reference only and shall not limit or otherwise affect the
meaning hereof.

                  20. GOVERNING LAW. THIS WARRANT SHALL BE CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY,
THE LAW OF THE STATE OF DELAWARE, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF
LAWS.

                  21. JUDICIAL PROCEEDINGS; WAIVER OF JURY. Any judicial
proceeding brought against the Company with respect to this Warrant may be
brought in any court of competent jurisdiction in the State of New York or of
the United States of America for the Southern District of New York and, by
execution and delivery of this Agreement, the Company (A) accepts, generally and
unconditionally, the nonexclusive jurisdiction of such courts and any related
appellate court, and irrevocably agrees to be bound by any judgment rendered
thereby in connection with this Warrant, subject to any rights of appeal, and
(B) irrevocably waives any objection the Company may now or hereafter have as to
the venue of any such suit, action or proceeding brought in such a court or that
such court is an inconvenient forum. The Company hereby waives personal service
of process and consents that service of process upon it may be made by certified
or registered mail, return receipt requested, at its address specified or
determined in accordance with the provisions of section 16, and service so made
shall be deemed completed on the third Business Day after such service is
deposited in the mail or, if earlier, when delivered. Nothing herein shall
affect the right to serve process in any other manner permitted by law or shall
limit the right of any holder of any Warrant to bring proceedings against the
Company in the courts of any other jurisdiction. THE COMPANY HEREBY WAIVES TRIAL
BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY, OR INDIRECTLY, ANY
MATTER (WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT
OF, RELATED TO, OR CONNECTED WITH THIS WARRANT OR THE RELATIONSHIP ESTABLISHED
HEREUNDER.

                                                 CYBER DIALOGUE INC.

                                                 By: Andrew Watt
                                                    ---------------------
                                                    Title: CFO

<PAGE>

                              FORM OF SUBSCRIPTION

                 [To be executed only upon exercise of Warrant]

To Cyber Dialogue Inc.

The undersigned registered holder of the within Warrant hereby irrevocably
exercises such Warrant for, and purchases thereunder, ______* shares of Common
Stock of Cyber Dialogue Inc. and herewith makes payment of $       therefor, and
requests that the certificates for such shares be issued in the name of, and
delivered to _________________, whose address is _____________________________.

                                                 Dated:
                               (Signature must conform in all respects to name
                               of holder as specified on the face of Warrant)

                                           (Street Address)

                                        (City)(State)(Zip Code)

---------------
*        Insert here the number of shares called for on the face of this Warrant
         (or, in the case of a partial exercise, the portion thereof as to which
         this Warrant is being exercised), in either case without making any
         adjustment for Additional Shares of Common Stock or any other stock or
         other securities or property or cash which, pursuant to the adjustment
         provisions of this Warrant, may be delivered upon exercise. In the case
         of partial exercise, a new Warrant or Warrants will be issued and
         delivered, representing the unexercised portion of the Warrant, to the
         holder surrendering the Warrant.

<PAGE>

                               FORM OF ASSIGNMENT

                 [To be executed only upon transfer of Warrant]

For value received, the undersigned registered holder of the within Warrant
hereby sells, assigns and transfers unto _____________________ the right
represented by such Warrant to purchase ___________ shares of Common Stock of
Cyber Dialogue Inc. to which such Warrant relates, and appoints ________________
Attorney to make such transfer on the books of Cyber Dialogue Inc. maintained
for such purpose, with full power of substitution in the premises.

                                                  Dated:
                                 (Signature must conform in all respects to name
                                 of holder as specified on the face of Warrant)

                                             (Street Address)

                                          (City)(State)(Zip Code)

Signed in the presence of:<PAGE>

                                                                  Exhibit 10.14

                          COMMON STOCK PURCHASE WARRANT

THIS WARRANT AND ANY SHARES ISSUED UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR ANY
STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED
UNLESS REGISTERED UNDER THE ACT AND ALL APPLICABLE STATE SECURITIES LAWS OR
UNLESS AN EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS IS AVAILABLE AT THE TIME
OF SUCH OFFERING, SALE OR TRANSFER.

                               CYBER DIALOGUE INC.

                          Common Stock Purchase Warrant

                                                              New York, New York
No. W-3                                                       September 14, 1999

            Cyber Dialogue Inc. (the "Company"), a Delaware corporation, for
value received, hereby certifies that eCom Partners Fund I LLC; or registered
assigns (the "holder"), is entitled to purchase from the Company the Exercisable
Number (as defined in section 9) of duly authorized, validly issued, fully paid
and nonassessable shares of common stock, par value $.01 per share (the "Common
Stock") of the Company at the Purchase Price (as defined in section 9), at any
time or from time to time prior to 5:00 P.M., New York City time, on the
three-year anniversary of the Issuance Date (or such later date as may be
determined pursuant to section 14), all subject to the terms, conditions and
adjustments set forth below in this Warrant.

            This Warrant is the Common Stock Purchase Warrant (the "Warrant",
such term to include any such warrants issued in substitution therefor)
originally issued on September 14, 1999 (the "Issuance Date") in connection with
the Consulting Agreement of even date herewith between the Company and the
holder. The Warrant originally so issued evidences rights to purchase the
Exercisable Number of shares of Common Stock subject to adjustment as provided
herein. Certain capitalized terms used in this Warrant are defined in section 9;
references to an "Exhibit" are, unless otherwise specified, to one of the
Exhibits attached to this Warrant and references to a "section" are, unless
otherwise specified, to one of the sections of this Warrant.
<PAGE>

            1. Exercise of Warrant.

            1.1. Representations of the Holder. Prior to exercise of the
Warrant, the holder shall represent and warrant that (i) it is an "accredited
investor" as such term is defined in Regulation D under the Securities Act; (ii)
it is acquiring the shares of Common Stock for its own account for investment
and not with a view to, or for sale in connection with, any distribution thereof
in violation of the Securities Act, nor with any present intention of
distributing or selling the same in violation of the Securities Act; and (iii)
it confirms that it has such knowledge and experience in financial and business
matters that such holder is capable of evaluating the merits and risks of an
investment in the shares and of making an informed investment decision and
understands that (A) this investment is suitable only for an investor which is
able to bear the economic consequences of losing its entire investment; (B) the
purchase of the shares hereunder is a speculative investment which involves a
high degree of risk of loss of the entire investment; and (C) there are
substantial restrictions on the transferability of, and there will be no public
market for, the shares, and accordingly, it may not be possible for such holder
to liquidate such holder's investment in case of emergency.

            1.2. Manner of Exercise. This Warrant may be exercised by the
holder, in whole or in part, during normal business hours on any Business Day,
by surrender of this Warrant to the Company at its principal office, accompanied
by a subscription in substantially the form attached to this Warrant (or a
reasonable facsimile thereof) duly executed by such holder and accompanied by
payment, in cash, by certified or official bank check payable to the order of
the Company, or in the manner provided in section 1.5 (or by any combination of
such methods), in the amount obtained by multiplying (a) the number of shares of
Common Stock (without giving effect to any adjustment thereof) designated in
such subscription by (b) the Purchase Price, and such holder shall thereupon be
entitled to receive the number of duly authorized, validly issued, fully paid
and nonassessable shares of Common Stock determined as provided in sections 2
and 3.

            1.3. 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 the Company as
provided in section 1.2, 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 as provided in section 1.4 shall be deemed to have
become the holder or holders of record thereof.

<PAGE>

            1.4. Delivery of Stock Certificates, etc. As soon as practicable
after each exercise from time to time of this Warrant, in whole or in part, and
in any event within five Business Days thereafter, the Company will cause to be
issued in the name of and delivered to the holder hereof or, subject to section
5, as such holder (upon payment by such holder of any applicable transfer taxes)
may direct,

            (a) a certificate or certificates for the number of duly authorized,
      validly issued, fully paid and nonassessable shares of Common Stock to
      which such holder shall be entitled upon such exercise plus, in lieu of
      any fractional share to which such holder would otherwise be entitled,
      cash in an amount equal to the same fraction of the Market Price per share
      on the Business Day next preceding the date of such exercise, and

            (b) in case such exercise is in part only, a new Warrant or Warrants
      of like tenor, calling in the aggregate on the face or faces thereof for
      the number of shares of Common Stock equal (without giving effect to any
      adjustment thereof) to the number of such shares called for on the face of
      this Warrant minus the number of such shares designated by the holder upon
      such exercise as provided in section 1.2.

            1.5. Payment by Application of Shares Otherwise Issuable. Upon any
exercise of this Warrant, the holder may, at its option, instruct the Company,
by written notice accompanying the surrender of this Warrant at the time of such
exercise, to apply to the payment required by section 1.2 such number of the
shares of Common Stock otherwise issuable to such holder upon such exercise as
shall be specified in such notice, in which case an amount equal to the excess
of the aggregate Current Market Price of such specified number of shares on the
date of exercise over the portion of the payment required by section 1.2
attributable to such shares shall be deemed to have been paid to the Company and
the number of shares issuable upon such exercise shall be reduced by such
specified number.

            2. Adjustment of Common Stock Issuable Upon Exercise.

            2.1. General; Warrant Price. The number of shares of Common Stock
which the holder of this Warrant shall be entitled to receive upon each exercise
hereof shall be determined by multiplying the number of shares of Common Stock
which would otherwise (but for the provisions of this section 2) be issuable
upon such exercise, as designated by the holder hereof pursuant to section 1.2,
by the fraction of which (a) the numerator is the Purchase Price and (b) the
denominator is the Warrant Price in

                                       3
<PAGE>

effect on the date of such exercise. The "Warrant Price" shall initially be the
Purchase Price per share, shall be adjusted and readjusted from time to time as
provided in this section 2 and, as so adjusted or readjusted, shall remain in
effect until a further adjustment or readjustment thereof is required by this
section 2.

            2.2 Treatment of Issuances of Additional Shares of Common Stock.

            2.2.1 Adjustment. Subject to Section 2.2.2, in case the Company at
any time or from time to time shall issue or sell Additional Shares of Common
Stock without consideration or for a consideration per share less than the
lesser of the Current Market Price and the Warrant Price in effect immediately
prior to such issue or sale (in either case, a "Below Market Issuance"), then,
in each such case, subject to section 2.6, such Warrant Price shall be reduced,
concurrently with such issue or sale, to a price (calculated to the nearest .001
of a cent) determined by multiplying such Warrant Price by a fraction:

            (a) the numerator of which shall be (i) the number of shares of
      Common Stock outstanding immediately prior to such issue or sale plus (ii)
      the number of shares of Common Stock which the aggregate consideration
      received by the Company for the total number of such Additional Shares of
      Common Stock so issued or sold would purchase at the lesser of such
      Current Market Price and such Warrant Price, and

            (b) the denominator of which shall be the number of shares of Common
      Stock outstanding immediately after such issue or sale.

            2.2.2 Limitation on Adjustment. Section 2.2.1 shall not apply if the
Below Market Issuance had been approved:

            (a) in accordance with Section 7.6(E) of the Common Stock Purchase
      Agreement of the Company of even date herewith (as such agreement may
      subsequently be amended, supplemented or otherwise modified by the parties
      thereto, the "Stock Purchase Agreement") or under any other agreement
      involving the Company and the holder or any of its affiliates granting the
      holder or its affiliate any approval rights with respect to such Below
      Market Issuance, or

                                       4
<PAGE>

            (b) by any member of the Board of Director designated by the holder
      or any its affiliates under any stockholders agreement or other
      arrangement involving the Company and any of its other stockholders.

            2.3. Treatment of Extraordinary Dividends and Distributions. In case
the Company at any time or from time to time after the date hereof shall declare
or pay any dividend or other distribution on the Common Stock (other than (x)
regular periodic dividends payable in cash out of earned surplus and (y) shares
of Common Stock), then, and in each such case, the Warrant Price in effect
immediately prior to the close of business on the record date fixed for the
determination of holders of any class of securities entitled to receive such
dividend or distribution shall be reduced, effective as of the close of business
on such record date, to a price (calculated to the nearest .001 of a cent)
determined by multiplying such Warrant Price by a fraction:

            (x) the numerator of which shall be the Current Market Price in
      effect on such record date less the amount of such dividend or
      distribution (as determined in good faith by the Board of Directors of the
      Company) applicable to one share of Common Stock, and

            (y) the denominator of which shall be such Current Market Price.

            2.4. Treatment of Stock Dividends, Stock Splits, etc. In case the
Company at any time or from time to time after the date hereof shall declare or
pay any dividend or other distribution on the Common Stock payable in Common
Stock, or shall effect a subdivision of the outstanding shares of Common Stock
into a greater number of shares of Common Stock (by reclassification or
otherwise than by payment of a dividend in Common Stock), then, and in each such
case, the Warrant Price shall be reduced, effective as of (a) in the case of any
such dividend, immediately after the close of business on the record date for
the determination of holders of any class of securities entitled to receive such
dividend, or (b) in the case of any such subdivision, at the close of business
on the day immediately prior to the day upon which such corporate action becomes
effective, to a price (calculated to the nearest .001 of a cent) determined by
multiplying such Warrant Price by a fraction:

            (x) the numerator of which shall be the number of shares of Common
      Stock outstanding immediately prior to such dividend or subdivision, and

            (y) the denominator of which shall be the number of shares of Common
      Stock outstanding immediately after such dividend or subdivision.

                                       5
<PAGE>

            2.5. Adjustments for Combinations, etc. In case the outstanding
shares of Common Stock shall be combined or consolidated, by reclassification or
otherwise, into a lesser number of shares of Common Stock, the Warrant Price in
effect immediately prior to such combination or consolidation shall,
concurrently with the effectiveness of such combination or consolidation, be
proportionately increased.

            2.6. Minimum Adjustment of Warrant Price. If the amount of any
adjustment of the Warrant Price required pursuant to this section 2 would be
less than one percent (1%) of the Warrant Price in effect at the time such
adjustment is otherwise so required to be made, such amount shall be carried
forward and adjustment with respect thereto made at the time of and together
with any subsequent adjustment which, together with such amount and any other
amount or amounts so carried forward, shall aggregate at least one percent (1%)
of such Warrant Price.

            3. Extraordinary Transactions.

            3.1. Consolidation, Merger or Transfer. In case the Company after
the date hereof (a) shall consolidate with or merge into any other Person and
shall not be the continuing or surviving corporation of such consolidation or
merger, or (b) shall 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) shall transfer all or substantially all of its
properties or assets to any other Person, the Company shall give 30 days' notice
of such transaction to the holder, which notice shall specify that the Warrant
will terminate unless exercised prior to such transaction and, provided such
notice is timely given, this this Warrant shall terminate immediately prior to
consummation of such transaction unless previously exercised by the holder.

            3.2. Reorganization or Classification. In case the Company after the
date hereof shall effect a capital reorganization or reclassification of the
Common Stock (other than a capital reorganization or reclassification for which
adjustment in the Warrant Price is provided in section 2), 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 Warrant Price in
effect at the time of such consummation for all Common Stock issuable upon such
exercise immediately prior to such consummation), in lieu of the Common Stock
issuable upon such exercise prior to such consummation, the number

                                       6
<PAGE>

of shares of capital stock of the Company which such holder would actually have
been entitled to receive as a shareholder upon such consummation if such holder
had exercised the rights represented by this Warrant immediately prior thereto,
subject to adjustments (subsequent to such consummation) as nearly equivalent as
possible to the adjustments provided for in section 2.

            4. Notices of Corporate Action. In the event of:

            (a) any taking by the Company of a record of the holders of any
      class of securities for the purpose of determining the holders thereof who
      are entitled to receive any dividend (other than a regular periodic
      dividend payable in cash out of earned surplus) or other distribution, or

            (b) any capital reorganization of the Company, any reclassification
      or recapitalization of the capital stock of the Company or any
      consolidation or merger involving the Company and any other Person or any
      transfer of all or substantially all the assets of the Company to any
      other Person, or

            (c) any voluntary or involuntary dissolution, liquidation or
      winding-up of the Company,

the Company will mail to each holder of a Warrant a notice specifying (i) the
date or expected date on which any such record is to be taken for the purpose of
such dividend or distribution, and the amount and character of such dividend or
distribution and (ii) the date or expected date on which any such
reorganization, reclassification, recapitalization, consolidation, merger,
transfer, dissolution, liquidation or winding-up is to take place and the time,
if any such time is to be fixed, as of which the holders of record of Common
Stock shall be entitled to exchange their shares of Common Stock for the
securities or other property deliverable upon such reorganization,
reclassification, recapitalization, consolidation, merger, transfer,
dissolution, liquidation or winding-up. Such notice shall be mailed at least 45
days prior to the date therein specified.

            5. Restrictions on Transfer.

            5.1. Restrictive Legends. Except as otherwise permitted by this
section 5, each Warrant (including each Warrant issued upon the transfer of any
Warrant) shall be stamped or otherwise imprinted with a legend in substantially
the following form:

                                       7
<PAGE>

            "This Warrant and any shares acquired upon the exercise of this
      Warrant have not been registered under the Securities Act of 1933, as
      amended, and may not be transferred, sold or otherwise disposed of except
      while a registration under such Act is in effect or pursuant to an
      exemption therefrom under such Act. This Warrant and such shares may be
      transferred only in compliance with the conditions specified in this
      Warrant."

Except as otherwise permitted by this section 5, each certificate for Common
Stock issued upon the exercise of any Warrant, and each certificate issued upon
the transfer of any such Common Stock shall be stamped or otherwise imprinted
with a legend in substantially the following form:

            "The shares represented by this certificate have not been registered
      under the Securities Act of 1933 and may not be transferred in the absence
      of such registration or an exemption therefrom under such Act. Such shares
      may be transferred only in compliance with the conditions specified in
      certain Common Stock Purchase Warrants issued by Cyber Dialogue Inc. A
      complete and correct copy of the form of such Warrant is available for
      inspection at the principal office of Cyber Dialogue Inc. or at the office
      or agency maintained by Cyber Dialogue Inc. as provided in such Warrant
      and will be furnished to the holder of such shares upon written request
      and without charge."

            5.2. Recipients of Transfer. The holder shall not transfer the
Warrant to any person other than an affiliate or principal of eCom Partners
Fund, L.P., and only if such transferee is an "accredited investor" as such term
is defined in Regulation D of the Securities Act, and the transfer would not
otherwise cause registration under the Securities Act to be required.

            6. Availability of Information. If the Company shall have filed a
registration statement pursuant to the requirements of Section 12 of the
Exchange Act or a registration statement pursuant to the requirements of the
Securities Act, the Company will comply with the reporting requirements of
Sections 13 and 15(d) of the Exchange Act and will comply with all other public
information reporting requirements of the Commission (including Rule 144 adopted
by the Commission under the Securities Act) from time to time in effect and
relating to the availability of an exemption from the Securities Act for the
sale of any Common Stock. The Company will furnish to each holder of any
Warrants, promptly upon their becoming available, copies of all financial

                                       8
<PAGE>

statements, reports, notices and proxy statements sent or made available
generally by the Company to its stockholders, and copies of all regular and
periodic reports and all registration statements and prospectuses filed by the
Company with any securities exchange or with the Commission.

            7. Reservation of Stock, etc. The Company will at all times reserve
and keep available, solely for issuance and delivery upon exercise of the
Warrant, the number of shares of Common Stock from time to time issuable upon
exercise of the Warrant. All shares of Common Stock issuable upon exercise of
the Warrant 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.

            8. Registration and Transfer of Warrant, etc.

            8.1. Warrant Register; Ownership of Warrant. The Company will keep
at its principal office a register in which the Company will provide for the
registration of the Warrant and the registration of transfers of the Warrant.
The Company may treat the Person in whose name the Warrant is registered on such
register as the owner thereof for all other purposes, and the Company shall not
be affected by any notice to the contrary. Subject to section 5, a Warrant, if
properly assigned, may be exercised by a new holder without a new Warrant first
having been issued.

            8.2. Transfer and Exchange of Warrant. Upon surrender of the Warrant
for registration of transfer or for exchange to the Company at its principal
office, the Company at its expense will (subject to compliance with section 5,
if applicable) execute and deliver in exchange therefor a new Warrant or
Warrants of like tenor, in the name of such holder or as such holder (upon
payment by such holder of any applicable transfer taxes) may direct, 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 or Warrants so surrendered.

            8.3. Replacement of Warrants. Upon receipt of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of any
Warrant and, in the case of any such loss, theft or destruction of any Warrant,
upon delivery of an indemnity bond in such reasonable amount as the Company may
determine or, in the case of any such mutilation, upon the surrender of such
Warrant for cancellation to the Company at its principal office, the Company at
its expense will execute and deliver, in lieu thereof, a new Warrant of like
tenor.

                                       9
<PAGE>

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

            Additional Shares of Common Stock: All shares of Common Stock issued
or sold by the Company after the date hereof, whether or not subsequently
reacquired or retired by the Company, other than shares issuable:

                  (i) in connection with the Stock Purchase Agreement or the
      transactions contemplated thereby;

                  (ii) upon the exercise or conversion of any security disclosed
      in Section 3.3 of the Disclosure Schedule to the Stock Purchase Agreement;
      or

                  (iii) upon exercise of options granted under the Company's
      stock option plans as long as the aggregate number of such shares does not
      exceed 20% of the fully-diluted ownership of the Company and 25% of the
      Outstanding Common Stock.

            Business Day: 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.

            Commission: The Securities and Exchange Commission or any other
federal agency at the time administering the Securities Act.

            Company: As defined in the introduction to this Warrant.

            Current Market Price: On any date specified herein, the average
daily Market Price during the period of the most recent 20 days, ending on such
date, on which the national securities exchanges were open for trading, except
that if no Common Stock is then listed or admitted to trading on any national
securities exchange or quoted in the over-the-counter market, the Current Market
Price shall be the Market Price on such date.

            Exchange Act: The Securities Exchange Act of 1934, or any similar
federal statute, and the rules and regulations of the Commission thereunder, all
as the same shall be in effect at the time.

                                       10
<PAGE>

            Exercisable Number: (i) 1,477 shares of Common Stock if the Warrant
is exercised on or before the one-year anniversary of the Issuance Date; (ii)
1,149 shares of Common Stock if the Warrant is exercised during the period
beginning one day after the one-year anniversary of the Issuance Date and ending
on the two-year anniversary of the Issuance Date; and (iii) 941 shares of Common
Stock if the Warrant is exercised during the period beginning one day after the
two-year anniversary of the Issuance Date and ending on the three-year
anniversary of the Issuance Date.

            Market Price: On any date specified herein, the amount per share of
the Common Stock, equal to (a) the last sale price of such Common Stock on such
date or, if no such sale takes place on such date, the average of the closing
bid and asked prices thereof on such date, in each case as officially reported
on the principal national securities exchange on which such Common Stock is then
listed or admitted to trading, or (b) if such Common Stock is not then listed or
admitted to trading on any national securities exchange but is designated as a
national market system security by the NASD, the last trading price of the
Common Stock on such date, or (c) if there shall have been no trading on such
date or if the Common Stock is not so designated, the average of the closing bid
and asked prices of the Common Stock on such date as shown by the NASD automated
quotation system, or (d) if such Common Stock is not then listed or admitted to
trading on any national exchange or quoted in the over-the-counter market, the
value as determined by a firm of independent public accountants of recognized
standing selected by the Board of Directors of the Company, as of the last day
of any month ending within 30 days preceding the date as of which the
determination is to be made.

            NASD: The National Association of Securities Dealers, Inc.

            Person: A corporation, an association, a limited liability company,
a partnership, an organization, a business, an individual, a government or
political subdivision thereof or a governmental agency.

            Purchase Price: The purchase price per share of Common Stock of (i)
$677.17 if the Warrant is exercised on or before the one-year anniversary of the
Issuance Date; (ii) $869.96 if the Warrant is exercised during the period
beginning one day after the one-year anniversary of the Issuance Date and ending
on the two-year anniversary of the Issuance Date; and (iii) $1,062.75 if the
Warrant is exercised during the period beginning one day after the two-year
anniversary of the Issuance Date and ending on the three-year anniversary of the
Issuance Date.

                                       11
<PAGE>

            Securities Act: The Securities Act of 1933, or any similar federal
statute, and the rules and regulations of the Commission thereunder, all as the
same shall be in effect at the time.

            Stock Purchase Agreement: As defined in section 2.2.2.

            Transfer: Any sale, assignment, pledge or other disposition of any
security, or of any interest therein, which could constitute a "sale" as that
term is defined in section 2(3) of the Securities Act.

            Warrant Price: As defined in section 2.1.

            Warrants: As defined in the introduction to this Warrant.

            10. Remedies. The Company stipulates that the remedies at law of the
holder of this Warrant in the event of any default or threatened default by the
Company in the performance of or compliance with any of the terms of this
Warrant are not and will not be adequate and that, to the fullest extent
permitted by law, such terms may be specifically enforced by a decree for the
specific performance of any agreement contained herein or by an injunction
against a violation of any of the terms hereof or otherwise.

            11. No Rights or Liabilities as Stockholder. Nothing contained in
this Warrant shall be construed as conferring upon the holder hereof any rights
as a stockholder of the Company or as imposing any obligation on such holder to
purchase any securities or as imposing any liabilities on such holder as a
stockholder of the Company, whether such obligation or liabilities are asserted
by the Company or by creditors of the Company.

            12. Notices. All notices and other communications under this Warrant
shall be in writing and shall be delivered, or mailed by registered or certified
mail, return receipt requested, by a nationally recognized overnight courier,
postage prepaid, addressed (a) if to any holder of any Warrant, at the
registered address of such holder as set forth in the register kept at the
principal office of the Company, or (b) if to the Company, to the attention of
its President at its principal office, provided that the exercise of any Warrant
shall be effective in the manner provided in section 1.

            13. Amendments. This Warrant and any term hereof may be changed,
waived, discharged or terminated only by an instrument in writing signed by the
party

                                       12
<PAGE>

against which enforcement of such change, waiver, discharge or termination is
sought.

            14. Expiration. Except with respect to section 3, in which case the
notice provisions specified therein shall apply, the Company will give the
holder of this Warrant not less than six weeks nor more than two months notice
of the expiration of the right to exercise this Warrant. Except as otherwise
provided in section 3, the right to exercise this Warrant shall expire at 5:00
P.M., New York City time, on the three-year anniversary of the Issuance Date,
unless the Company shall fail to give such notice as aforesaid, in which event
the right to exercise this Warrant shall not expire until a date six weeks after
the date on which the Company shall give the holder hereof notice of the
expiration of the right to exercise this Warrant.

            15. Descriptive Headings. The headings in this Agreement are for
purposes of reference only and shall not limit or otherwise affect the meaning
hereof.

            16. GOVERNING LAW. THIS WARRANT SHALL BE CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF
THE STATE OF DELAWARE, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS.

            17. Judicial Proceedings; Waiver of Jury. Any judicial proceeding
brought against the Company with respect to this Warrant may be brought in any
court of competent jurisdiction in the State of New York or of the United States
of America for the Southern District of New York and, by execution and delivery
of this Agreement, the Company (a) accepts, generally and unconditionally, the
nonexclusive jurisdiction of such courts and any related appellate court, and
irrevocably agrees to be bound by any judgment rendered thereby in connection
with this Warrant, subject to any rights of appeal, and (b) irrevocably waives
any objection the Company may now or hereafter have as to the venue of any such
suit, action or proceeding brought in such a court or that such court is an
inconvenient forum. The Company hereby waives personal service of process and
consents that service of process upon it may be made by certified or registered
mail, return receipt requested, at its address specified or determined in
accordance with the provisions of section 12, and service so made shall be
deemed completed on the third Business Day after such service is deposited in
the mail or, if earlier, when delivered. Nothing herein shall affect the right
to serve process in any other manner permitted by law or shall limit the right
of any holder of any Warrant to bring proceedings against the Company in the
courts of any other jurisdiction. THE COMPANY HEREBY WAIVES TRIAL BY JURY IN ANY
JUDICIAL

                                       13
<PAGE>

PROCEEDING INVOLVING, DIRECTLY, OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN
TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED
WITH THIS WARRANT OR THE RELATIONSHIP ESTABLISHED HEREUNDER.

                                        CYBER DIALOGUE INC.

                                        By:  /s/ Mark Esiri
                                           -------------------------------------
                                           Title: CEO Mark Esiri

                                       14
<PAGE>

                              FORM OF SUBSCRIPTION

                 [To be executed only upon exercise of Warrant]

To Cyber Dialogue Inc.

      The undersigned registered holder of the within Warrant hereby represents
that (i) it is an "accredited investor" as such term is defined in Regulation D
under the Securities Act; (ii) it is acquiring the shares for its own account
for investment and not with a view to, or for sale in connection with, any
distribution thereof in violation of the Securities Act, nor with any present
intention of distributing or selling the same in violation of the Securities
Act; and (iii) it confirms that it has such knowledge and experience in
financial and business matters that such holder is capable of evaluating the
merits and risks of an investment in the shares and of making an informed
investment decision and understands that (A) this investment is suitable only
for an investor which is able to bear the economic consequences of losing its
entire investment; (B) the purchase of the shares hereunder is a speculative
investment which involves a high degree of risk of loss of the entire
investment; and (C) there are substantial restrictions on the transferability
of, and there will be no public market for, the shares, and accordingly, it may
not be possible for such holder to liquidate such holder's investment in case of
emergency.

      The undersigned registered holder of the within Warrant hereby irrevocably
exercises such Warrant for, and purchases thereunder, ______* shares of Common
Stock of Cyber Dialogue Inc. and herewith makes payment of $___________
therefor, and

----------

*     Insert here the number of shares called for on the face of this Warrant
      (or, in the case of a partial exercise, the portion thereof as to which
      this Warrant is being exercised), in either case without making any
      adjustment for Additional Shares of Common Stock or any other stock or
      other securities or property or cash which, pursuant to the adjustment
      provisions of this Warrant, may be delivered upon exercise. In the case of
      partial exercise, a new Warrant or Warrants will be issued and delivered,
      representing the unexercised portion of the Warrant, to the holder
      surrendering the Warrant.

                                       15
<PAGE>

requests that the certificates for such shares be issued in the name of, and
delivered to _________________, whose address is ______________________________.

Dated:

                                        ----------------------------------------
                                        (Signature must conform in all respects
                                        to name of holder as specified on the
            `                           face of Warrant)

                                        ----------------------------------------
                                                (Street Address)

                                        ----------------------------------------
                                                (City)(State)(Zip Code)

                                       16
<PAGE>

                               FORM OF ASSIGNMENT

                 [To be executed only upon transfer of Warrant]

For value received, the undersigned registered holder of the within Warrant
hereby sells, assigns and transfers unto _____________________ the right
represented by such Warrant to purchase ___________ shares of Common Stock of
Cyber Dialogue Inc. to which such Warrant relates, and appoints ________________
Attorney to make such transfer on the books of Cyber Dialogue Inc. maintained
for such purpose, with full power of substitution in the premises.

Dated:

                                        ----------------------------------------
                                        (Signature must conform in all respects
                                        to name of holder as specified on the
                                        face of Warrant)

                                        ----------------------------------------
                                                (Street Address)

                                        ----------------------------------------
                                                (City)(State)(Zip Code)

Signed in the presence of:

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

                                       17

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