Document:

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THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED WITH THE SECURITIES
AND EXCHANGE COMMISSION IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND, ACCORDINGLY,
MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM,
OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT.

May 9, 2000

170,000 shares of Common Stock                                  Warrant No. ____

                                 WEBMODAL, INC.
                             STOCK PURCHASE WARRANT

Registered Owner: NET VALUE HOLDINGS, INC.

         This certifies that, for value received, Webmodal, Inc., a Delaware
corporation (the "Company"), grants the following rights to the Registered
Owner, or assigns, of this Warrant:

         1. Definitions. Capitalized terms used herein and not otherwise defined
herein shall have the meanings given to such terms in the Purchase Agreement. As
used in this Warrant, the following terms have the following meanings:

         "Appraiser" means a nationally recognized or major regional investment
banking firm or firm of independent certified public accountants of recognized
standing.

         "Business Day" means any day except Saturday, Sunday and any day which
shall be a legal holiday or a day on which banking institutions in the state of
Pennsylvania or Illinois generally are authorized or required by law or other
government actions to close.

         "Cashless Exercise" has the meaning assigned to it in Section 6(b)
hereof.

         "Change of Control Event" has the meaning assigned to it in Section 5
hereof.

         "Closing" and "Closing Date" have the meanings set forth in Section 2
of the Purchase Agreement.

         "Common Stock" means the shares of the Company's Common Stock, par
value $.0001 per share.

         "Company" means Webmodal, Inc., a Delaware corporation.
          -------

         "Exercise Period" has the meaning assigned to it in Section 5 hereof.

         "Exercise Price" has the meaning assigned to it in Section 4 hereof.

         "Investor" has the meaning set forth in the Purchase Agreement.

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         "OTCBB" means the OTC Bulletin Board of the National Association of
Securities Dealers, Inc.

         "Per Share Market Value" means on any particular date (i) the closing
bid price per share of the Common Stock on such date on (a) the OTCBB, as
reported by the National Quotation Bureau Incorporated (or similar organization
or agency succeeding to its functions of reporting prices) at the close of
business on such date, or (b) such other Subsequent Market on which the Common
Stock is then listed or quoted or, if there is no such price on such date, then
the closing bid price on such exchange or quotation system on the date nearest
preceding such date, or (ii) if the Common Stock is not then publicly traded the
fair market value of a share of Common Stock as determined by an Appraiser
selected in good faith by the registered owners of a majority of the Underlying
Shares and Warrants then outstanding; provided, however, that, after receipt of
the determination by such Appraiser, the Company shall have the right to select,
in good faith, an additional Appraiser, in which case the fair market value
shall be equal to the average of the determinations by each such Appraiser; and
provided, further that all determinations of the Per Share Market Value shall be
appropriately adjusted for any stock dividends, stock splits or other similar
transactions during such period.

         "Person" means a means an individual or a corporation, partnership,
trust, incorporated or unincorporated association, joint venture, limited
liability company, joint stock company, government (or an agency or political
subdivision thereof) or other entity of any kind.

         "Purchase Agreement" means that certain Series A Preferred Stock
Purchase Agreement, dated May 9, 2000, among the Company and the Investor.

         "Registered Owner" means the Person identified on the face of this
Warrant as the registered owner hereof or their assigns.

         "Subsequent Market" means the NASDAQ SmallCap Market, the NASDAQ
National Market, the New York Stock Exchange or the American Stock Exchange.

         "Trading Day(s)" means any day on which the primary market on which
shares of Common Stock are listed is open for trading.

         "Underlying Shares" means the shares of Common Stock issuable upon
exercise of the Warrants.

         "Warrant(s)" means the warrants issuable at the Closing, including this
Warrant.

         "Warrant Shares" has the meaning assigned to it in Section 3 hereof.

         2. Issue. Upon tender to the Company pursuant to Section 6 hereof, the
Company, within three (3) Business Days of the date thereof, shall issue to the
Registered Owner, or its designee, up to the number of shares specified in
Section 3 hereof of fully paid and nonassessable shares of Common Stock that the
Registered Owner, or assigns, is otherwise entitled to purchase.

         3. Number of Shares. The total number of shares of Common Stock that
the Registered Owner, or assigns, of this Warrant is entitled to receive upon
exercise of this Warrant is that number set forth on the first page of this
Warrant (the "Warrant Shares"), subject to adjustment from time to time as
provided herein. The Company shall at all times reserve and hold available out
of its authorized and unissued shares of Common Stock or other securities, as
the case may be, sufficient shares of Common Stock to satisfy the exercise
rights of this Warrant. The Company covenants and agrees that all shares of
Common Stock that may be issued upon the exercise of this Warrant shall, upon
issuance, be duly and validly issued, fully paid and nonassessable, free from
all taxes, liens and charges with respect to the purchase and the issuance of
the shares, shall not have any legend or restrictions on resale, except as
required by Section 4.8 of the Purchase Agreement.

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         4. Exercise Price. The initial per share exercise price of this
Warrant, representing the price per share at which each share of Common Stock
issuable upon exercise of this Warrant may be purchased, is $8.88, subject to
adjustment from time to time pursuant to the provisions of Section 7 hereof (the
"Exercise Price").

         5. Exercise Period. This Warrant may be exercised, in whole or in part,
from the Closing Date up to and including, (i) May 9, 2005 (the "Exercise
Period") or the upon the earlier of (ii) the Registered Owner's redemption of
all shares of the Company's Series A Preferred Stock held by the Registered
Owner or (iii) the last business day prior to a Qualified IPO, a merger or
consolidation of the Company and another entity following which the shareholders
of the Company control less then 50% of the voting securities of the resulting
entity or a sale of all or substantially all of the Company's assets (a "Change
in Control Event"), provided that the Registered Owner has received at least
thirty (30) days' written notice of the Change in Control Event. If not
exercised during this period, this Warrant and all rights granted under this
Warrant shall expire and lapse.

         6.       Tender; Issuance of Certificates.

                  (a) This Warrant may be exercised, in whole or in part, by (a)
         delivery of the applicable Exercise Price for the number of Warrant
         Shares in respect of which this Warrant is exercisable, (b) delivery of
         a duly executed Warrant Exercise Form, a copy of which is attached to
         this Warrant as Exhibit A, properly executed by the Registered Owner,
         or assigns, of this Warrant and (c) surrender of this Warrant. The
         number of Warrant Shares so purchased shall be designated on the
         Warrant Exercise Form and shall be deemed to be issued to the
         Registered Owner as of the close of business on the date on which this
         Warrant shall have been surrendered, the completed Warrant Exercise
         Form shall have been delivered and payment shall have been made for
         such shares as set forth above. The payment and Warrant Exercise Form
         must be delivered to the registered office of the Company or of the
         Company's transfer agent, either in person or as set for in Section 11
         hereof.

                  (b) In addition to the exercise of all or a part of this
         Warrant by payment of the Exercise Price in cash as provided above, and
         in lieu of such payment, the Registered Owner shall have the right to
         effect a cashless exercise (a "Cashless Exercise"). In the event of a
         Cashless Exercise the Registered Owner may exercise this Warrant in
         whole or in part by surrendering this Warrant in exchange for the
         number of shares of Common Stock equal to the product of (i) the number
         of shares as to which this Warrant is being exercised multiplied by
         (ii) a fraction, the numerator of which is the Per Share Market Value
         on such date less the Exercise Price then in effect and the denominator
         of which is the Per Share Market Value on such date (in each case
         adjusted for fractional shares as herein provided).

                  (c) Certificates for the Warrant Shares so purchased,
         representing the aggregate number of shares specified in the Warrant
         Exercise Form, and any cash payments due under Section 14 hereof shall
         be delivered to the Registered Owner, or its designee, within three (3)
         Business Days after this Warrant shall have been so exercised. The
         certificates so delivered shall be in such denominations as may be
         requested by the Registered Owner and shall be registered in the name
         of the Registered Owner or such other name as shall be designated by
         such Registered Owner. If this Warrant shall have been exercised only
         in part then, unless this Warrant has expired, the Company shall, at
         its expense and at the time of delivery of such certificates, deliver
         to the Registered Owner a new Warrant representing the number of shares
         with respect to which this Warrant shall not then have been exercised.

         7.       Adjustment of Exercise Price.

                  (a) Common Stock Event. Upon the occurrence of a Common Stock
         Event (as hereinafter defined) then the Exercise Price shall be
         multiplied by a fraction, the numerator of which shall be the number of
         shares of Common Stock outstanding before such event and the
         denominator of which shall be the number of shares of Common Stock
         outstanding after such event. Any adjustment made pursuant to this
         Section 7(a) shall become effective immediately after the record date
         for the determination of shareholders entitled to receive such dividend
         or distribution or, in the case of a subdivision or re-classification,

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         shall become effective immediately after the effective date thereof. As
         used herein, the term "Common Stock Event" shall mean (i) the issue by
         the Company of additional shares of Common Stock as a dividend or other
         distribution on outstanding Common Stock, (ii) a subdivision of the
         outstanding shares of Common Stock into a greater number of shares of
         Common Stock, or (iii) a combination of the outstanding shares of
         Common Stock into a smaller number of shares of Common Stock.

                  (b) Adjustments for Other Dividends and Distributions. If at
         any time or from time to time while this Warrant is outstanding the
         Company pays a dividend or makes another distribution to the holders of
         the Common Stock payable in securities of the Company other than shares
         of Common Stock, then in each such event provision shall be made so
         that the holder of this Warrant shall receive upon exercise thereof, in
         addition to the number of shares of Common Stock receivable upon
         exercise thereof, the amount of securities of the Company which such
         holder would have received had this Warrant been exercised on the date
         of such event (or such record date, as applicable) and had it
         thereafter, during the period from the date of such event (or such
         record date, as applicable) to and including the exercise date,
         retained such securities receivable by it as aforesaid during such
         period, subject to all other adjustments called for during such period
         under this Section 7 with respect to the rights of the holder of this
         Warrant or with respect to such other securities by their terms.

                  (c) Adjustment for Reclassification, Exchange and
         Substitution. If at any time or from time to time while this Warrant is
         outstanding the Common Stock issuable upon the exercise of this Warrant
         is changed into the same or a different number of shares of any class
         or classes of stock, whether by recapitalization, reclassification or
         otherwise, or is otherwise converted to other securities, cash or
         property (other than by a Common Stock Event or other event provided
         for elsewhere in this Section 7), then in any such event the holder of
         this Warrant shall have the right thereafter upon exercise hereof to
         receive the kind and amount of stock and other securities, cash and
         property receivable upon such recapitalization, reclassification or
         other change by holders of the number of shares of Common Stock for
         which this Warrant could have been exercised immediately prior to such
         recapitalization, reclassification or change, all subject to further
         adjustment as provided herein or with respect to such other securities
         or property by the terms thereof. The terms of any such event shall
         include such terms so as to continue to give to the Registered Owner
         the right to receive the securities, cash or property set forth in this
         Section 7(c) upon any exercise following such event. In any such case,
         appropriate adjustment shall be made in the application of the
         provisions of this Section 7 with respect to the rights of the
         Registered Owner after such event to the end that the provisions of
         this Section 7 (including adjustment of the Exercise Price then in
         effect and the number of Warrant Shares issuable upon exercise of this
         Warrant) shall be applicable after that event and be as nearly
         equivalent as practicable.

                  (d) Sale of Shares Below Exercise Price.

                      (1) Adjustment Formula. If at any time or from time to
         time while this Warrant is outstanding the Company issues or sells, or
         is deemed by the provisions of this Section 7(d) to have issued or
         sold, Additional Shares of Common Stock (as hereinafter defined),
         otherwise than in connection with a Common Stock Event as provided in
         Section 7(a), a dividend or distribution as provided in Section 7(b) or
         a recapitalization, reclassification or other change as provided in
         Section 7(c), for an Effective Price (as hereinafter defined) that is
         less than the Exercise Price in effect immediately prior to such issue
         or sale, then, and in each such case, the Exercise Price shall be
         reduced, as of the close of business on the date of such issue or sale,
         to a new Exercise Price determined pursuant to the following formula:

                                                (CS/OxEP)+AC
                                                ------------
                                    AEP =            CS/I

                           AEP =            Adjusted Exercise Price.

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                           CS/O =           Number of shares of Common Stock
                                            outstanding immediately prior to the
                                            issuance of Additional Shares of
                                            Common Stock.

                           EP =             Exercise Price in effect immediately
                                            prior to the issuance of Additional
                                            Shares of Common Stock.

                           AC =             Aggregate Consideration Received
                                            (as defined below) from the issuance
                                            of Additional Shares of Common
                                            Stock.

                           CS/I =           Number of shares of Common Stock
                                            outstanding and deemed outstanding
                                            immediately following the issuance
                                            of Additional Shares of Common
                                            Stock.

                      (2)  Certain Definitions. For the purpose of making any
adjustment required under this Section 7(d):

                                    (i)     "Additional Shares of Common Stock"
         shall mean all shares of Common Stock issued by the Company, whether or
         not subsequently reacquired or retired by the Company, other than: (A)
         shares of Common Stock issued or issuable upon conversion of Series A
         Preferred Stock; (B) shares of Common Stock issued or issuable upon
         exercise of this Warrant; and (C) up to 458,200 shares of Common Stock
         (or options, stock appreciation rights or similar employee benefits
         exercisable or convertible into or measured with respect to Common
         Stock, and including all such options, rights or benefits outstanding
         on the date of this Warrant) issued to employees, officers or directors
         of, or contractors, consultants or advisers to, or transportation
         carrier partners of, the Company pursuant to the Company's Long Term
         Incentive Stock Option Plan or other incentive agreements or
         arrangements approved by the Company's board of directors (such number
         of shares to be calculated net of any repurchases of such shares by the
         Company and net of any such expired or terminated options, warrants or
         rights and to be proportionally adjusted to reflect any subsequent
         Common Stock Event);

                                    (ii)    "Aggregate Consideration  Received"
         by the Company for any issue or sale (or deemed issue or sale) of
         securities shall (A) to the extent it consists of cash, be computed at
         the gross amount of cash received by the Company before deduction of
         any underwriting or similar commissions, compensation or concessions
         paid or allowed by the Company in connection with such issue or sale
         and without deduction of any expenses payable by the Company; (B) to
         the extent it consists of property other than cash, be computed at the
         fair value of that property as determined in good faith by the Board;
         and (C) if Additional Shares of Common Stock, Convertible Securities or
         Rights or Options to purchase either Additional Shares of Common Stock
         or Convertible Securities are issued or sold together with other stock
         or securities or other assets of the Company for a consideration which
         covers both, be computed as the portion of the consideration so
         received that may be reasonably determined in good faith by the Board
         to be allocable to such Additional Shares of Common Stock, Convertible
         Securities or Rights or Options.

                                    (iii)   "Convertible Securities" shall mean
         stock or other securities convertible into or exchangeable for shares
         of Common Stock.

                                    (iv)    "Effective Price" of Additional
         Shares of Common Stock shall mean the quotient determined by dividing
         the total number of Additional Shares of Common Stock issued or sold,
         or deemed to have been issued or sold, by the Company under this
         Section 7(d), into the Aggregate Consideration Received, or deemed to
         have been received, by the Company under this Section 7(d), for the
         issue of such Additional Shares of Common Stock; and

                                    (v)     "Rights or Options" shall mean
         warrants, options or other rights to purchase or acquire shares of
         Common Stock or Convertible Securities.

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                      (3) Deemed Issuances. For the purpose of making any
         adjustment to the Exercise Price required under this Section 7(d), if
         the Company issues or sells any Rights or Options or Convertible
         Securities and if the Effective Price of the shares of Common Stock
         issuable upon exercise of such Rights or Options and/or the conversion
         or exchange of Convertible Securities (computed without reference to
         any additional or similar protective or antidilution clauses) is less
         than the Exercise Price then in effect, then the Company shall be
         deemed to have issued, at the time of the issuance of such Rights,
         Options or Convertible Securities, that number of Additional Shares of
         Common Stock that is equal to the maximum number of shares of Common
         Stock issuable upon exercise or conversion of such Rights, Options or
         Convertible Securities upon their issuance and to have received, as the
         Aggregate Consideration Received for the issuance of such shares, an
         amount equal to the total amount of the consideration, if any, received
         by the Company for the issuance of such Rights or Options or
         Convertible Securities, plus, in the case of such Rights or Options,
         the minimum amounts of consideration, if any, payable to the Company
         upon the exercise in full of such Rights or Options, plus, in the case
         of Convertible Securities, the minimum amounts of consideration, if
         any, payable to the Company (other than by cancellation of liabilities
         or obligations evidenced by such Convertible Securities) upon the
         conversion or exchange thereof; provided that:

                                    (i) if the minimum amounts of such
         consideration cannot be ascertained, but are a function of antidilution
         or similar protective clauses, then the Company shall be deemed to have
         received the minimum amounts of consideration without reference to such
         clauses;

                                    (ii) if the minimum amount of consideration
         payable to the Company upon the exercise of Rights or Options or the
         conversion or exchange of Convertible Securities is reduced over time
         or upon the occurrence or non-occurrence of specified events other than
         by reason of antidilution or similar protective adjustments, then the
         Effective Price shall be recalculated using the figure to which such
         minimum amount of consideration is reduced; and

                                    (iii) if the minimum amount of consideration
         payable to the Company upon the exercise of such Rights or Options or
         the conversion or exchange of Convertible Securities is subsequently
         increased, then the Effective Price shall again be recalculated using
         the increased minimum amount of consideration payable to the Company
         upon the exercise of such Rights or Options or the conversion or
         exchange of such Convertible Securities.

                  No further adjustment of the Exercise Price, adjusted upon the
         issuance of such Rights or Options or Convertible Securities, shall be
         made as a result of the actual issuance of shares of Common Stock on
         the exercise of any such Rights or Options or the conversion or
         exchange of any such Convertible Securities. If any such Rights or
         Options or the conversion rights represented by any such Convertible
         Securities shall expire without having been fully exercised, then the
         Exercise Price as adjusted upon the issuance of such Rights or Options
         or Convertible Securities shall be readjusted to the Exercise Price
         which would have been in effect had an adjustment been made on the
         basis that the only shares of Common Stock so issued were the shares of
         Common Stock, if any, that were actually issued or sold on the exercise
         of such Rights or Options or rights of conversion or exchange of such
         Convertible Securities, and such shares of Common Stock, if any, were
         issued or sold for the consideration actually received by the Company
         upon such exercise, plus the consideration, if any, actually received
         by the Company for the granting of all such Rights or Options, whether
         or not exercised, plus the consideration received for issuing or
         selling all such Convertible Securities actually converted or
         exchanged, plus the consideration, if any, actually received by the
         Company (other than by cancellation of liabilities or obligations
         evidenced by such Convertible Securities) on the conversion or exchange
         of such Convertible Securities.

                  e. Record Date. If the Company takes a record of the holders
         of Common Stock for the purpose of entitling them (a) to receive a
         dividend or other distribution payable in Common Stock, Rights or
         Options or in Convertible Securities or (b) to subscribe for or
         purchase Common Stock, Rights or Options or Convertible Securities,
         then such record date will be deemed to be the date of the issue or
         sale of the shares of Common Stock deemed to have been issued or sold
         upon the declaration of such dividend or the making of such other
         distribution or the date of the granting of such right of subscription
         or purchase, as the case may be.

<PAGE>

                  f. Notice of Adjustment. Whenever the Exercise Price is
         adjusted pursuant to this Section 7 the Company shall promptly deliver
         to the Registered Owner a notice setting forth the Exercise Price after
         such adjustment and setting forth a brief statement of the facts
         requiring such adjustment. Such notice shall be signed by the chairman,
         president or chief financial officer of the Company.

                  g. Treasury Shares. The number of shares of Common Stock
         outstanding at any given time shall not include shares owned or held by
         or for the account of the Company, and the disposition of any shares so
         owned or held shall be considered an issue or sale of Common Stock by
         the Company.

                  h.  Notice of Certain Events.  If:

                           (i) the Company shall declare a dividend (or any
                  other distribution) on its Common Stock;

                           (ii) the Company shall declare a special nonrecurring
                  cash dividend on or a redemption of its Common Stock;

                           (iii) the Company shall authorize the granting to the
                  holders of its Common Stock rights, options or warrants to
                  subscribe for or purchase any shares of capital stock of any
                  class or of any rights;

                           (iv) the approval of any shareholders of the Company
                  shall be required in connection with any reclassification of
                  the Common Stock or any Change of Control Event; or

                           (v) the Company shall authorize the voluntary or
                  involuntary dissolution, liquidation or winding up of the
                  affairs of the Company;

                  then the Company shall cause to be filed at each office or
                  agency maintained for the purpose of exercise of this Warrant,
                  and shall cause to be delivered to the Registered Owner, at
                  least 30 (thirty) calendar days prior to the applicable record
                  or effective date hereinafter specified, a notice (provided
                  such notice shall not include any material non-public
                  information) stating (a) the date on which a record is to be
                  taken for the purpose of such dividend, distribution,
                  redemption, or granting of options, rights or warrants, or if
                  a record is not to be taken, the date as of which the holders
                  of Common Stock of record to be entitled to such dividend,
                  distributions, redemption, rights or warrants are to be
                  determined or (b) the date on which such reclassification or
                  Change of Control Event is expected to become effective or
                  close, and the date as of which it is expected that holders of
                  record of Common Stock shall be entitled to exchange their
                  shares of Common Stock for securities, cash or other property
                  deliverable in connection with such reclassification or Change
                  of Control Event; provided, however, that the failure to mail
                  such notice or any defect therein or in the mailing thereof
                  shall not affect the validity of the corporate action required
                  to be specified in such notice. Nothing herein shall prohibit
                  the Registered Owner from exercising this Warrant during the
                  30-day period commencing on the date of such notice.

                  i. Adjustment to Number of Warrant Shares. Upon any adjustment
         to the Exercise Price under this Section 7, the number of Warrant
         Shares purchasable hereunder shall be adjusted to equal the number of
         Warrant Shares purchasable hereunder prior to said adjustment times a
         fraction, the numerator of which is the Exercise Price prior to the
         adjustment and the denominator of which is the Exercise Price after the
         adjustment.

<PAGE>

                  j. Rounding. All calculations under this Section 7 shall be
         made to the nearest cent or the nearest l/l00th of a share, as the case
         may be.

                  k. Other Events. If any event occurs that would adversely
         affect the rights of the Registered Owner of this Warrant but is not
         expressly provided for by Section 7 hereof (including, without
         limitation, the granting of stock appreciation rights, phantom stock
         rights or other rights with equity features), then the Company's Board
         of Directors will make an appropriate adjustment in the Exercise Price
         so as to protect the rights of the Registered Owner; provided, however,
         that no such adjustment will increase the Exercise Price.

                  l. Increase in Exercise Price. In no event shall any provision
         in this Section 7 cause the Exercise Price to be greater than the
         Exercise Price on the date of issuance of this Warrant. -

         8. Registration on Company Books. This Warrant shall be numbered and
shall be registered upon issuance in a warrant register maintained the Company.
The Company may deem and treat the Registered Owner of this Warrant as the
absolute owner thereof, unless the Registered Owner shall have presented this
Warrant to the Company for transfer and the transferee shall have been entered
in the register as a subsequent holder. The ownership of this Warrant shall be
proven by such register, absent manifest error.

         9. Registration Rights. The Company will undertake the registration of
the Common Stock into which this Warrant is exercisable at such times and upon
such terms pursuant to the Investor Rights Agreement (as defined in the Purchase
Agreement).

         10. Reservation of Underlying Shares. The Company covenants that it
will at all times reserve and keep available out of its authorized shares of
Common Stock, free from preemptive rights, solely for the purpose of issue upon
exercise of this Warrants as herein provided, such number of shares of the
Common Stock as shall then be issuable upon the exercise of all outstanding
Warrants into Common Stock.

         11. Notices. Any notice or other communication required or permitted to
be given hereunder shall be in writing and shall be deemed to have been received
(a) upon hand delivery (receipt acknowledged) or delivery by telex (with correct
answer back received), telecopy or facsimile (with transmission confirmation
report) at the address or number designated below (if received by 5:00 p.m.
Eastern time where such notice is to be received), or the first Business Day
following such delivery (if received after 5:00 p.m. Eastern time where such
notice is to be received) or (b) on the second Business Day following the date
of mailing by express courier service, fully prepaid, addressed to such address,
or upon actual receipt of such mailing, whichever shall first occur. The
addresses for such communications are (i) if to the Company or the Company's
transfer agent to the address set forth in the Purchase Agreement (with copies
to the Company's counsel), and (ii) if to the Registered Owner to the addresses
set forth on the Purchase Agreement (with copies to the Registered Owner's
counsel) or such other address as may be designated in writing hereafter, in the
same manner, by such Person.

         12. Compliance With Governmental Requirements. The Company covenants
that if any shares of Common Stock required to be reserved for purposes of
exercise this Warrant requires registration with or approval of any governmental
authority under any federal or state law, or any national securities exchange,
before such shares may be issued upon exercise, the Company will use its best
efforts to cause such shares to be duly registered or approved, as the case may
be.

         13. Fractional Shares. Upon any exercise hereunder, the Company shall
not be required to issue stock certificates representing fractions of shares of
Common Stock, but may if otherwise permitted make a cash payment in respect of
any final fraction of a share based on the Per Share Market Value at such time.

         14. Payment of Tax Upon Issue of Transfer. The issuance of certificates
for shares of the Common Stock upon exercise of this Warrant shall be made
without charge to the Registered Owner hereof for any documentary stamp or
similar taxes that may be payable in respect of the issue or delivery of such
certificate, provided that the Company shall not be required to pay any tax that

<PAGE>

may be payable in respect of any transfer involved in the issuance and delivery
of any such certificate upon exercise in a name other than that of the
Registered Owner of this Warrant and the Company shall not be required to issue
or deliver such certificates unless or until the Person or Persons requesting
the issuance thereof shall have paid to the Company the amount of such tax or
shall have established to the satisfaction of the Company that such tax has been
paid.

         15. Effect of Headings. The section headings herein are for convenience
only and shall not affect the construction hereof.

         16. No Rights as Stockholder. This Warrant shall not entitle the
Registered Owner to any rights as a stockholder of the Company, including
without limitation, the right to vote, to receive dividends and other
distributions, or to receive notice of, or to attend, meetings of stockholders
or any other proceedings of the Company, unless and to the extent exercised into
shares of Common Stock in accordance with the terms hereof.

         17. Certain Actions Prohibited. The Company will not, by amendment of
its charter or through any reorganization, transfer of assets, consolidation,
merger, 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 to be
observed or performed by it hereunder, but will at all times in good faith
assist in the carrying out of all the provisions of this Warrant and in the
taking of all such action as may reasonably be requested by the Registered Owner
in order to protect the exercise privilege of the Registered Owner against
dilution or other impairment, consistent with the tenor and purpose of this
Warrant. Without limiting the generality of the foregoing, the Company (i) will
not increase the par value of any shares of Common Stock receivable upon the
exercise of this Warrant and (ii) will take all such actions as may be necessary
or appropriate in order that the Company may validly and legally issue fully
paid and nonassessable shares of Common Stock upon the exercise of this Warrant.

         18. Successors and Assigns. This Warrant shall be binding upon and
inure to the benefit of the Registered Owners and its successors and assigns,
and shall be binding upon any entity succeeding to the Company by merger or
acquisition of all or substantially all the assets of the Company. The Company
may not assign this Warrant or any rights or obligations hereunder without the
prior written consent of the Registered Owner. The Registered Owner may assign
this Warrant without the prior written consent of the Company in connection with
a transfer of shares of Series A Preferred Stock of the Company or shares of
Common Stock issued upon the conversion thereof.

         19. Governing Law. This Warrant shall be governed by and construed and
enforced in accordance with the internal laws of the State of Delaware, as
applied to agreements under seal made, and entirely to be performed, within
Delaware, without regard to the principles of conflicts of law thereof. Each
party hereby irrevocably waives personal service of process and consents to
process being served in any such suit, action or proceeding by mailing a copy
thereof to such party at the address for such notices to it under this Warrant
and agrees that such service shall constitute good and sufficient service of
process and notice thereof. Nothing contained herein shall be deemed to limit in
any way any right to serve process in any manner permitted by law. EACH PARTY
HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A
JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION
HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED
HEREBY.

         20. Remedies. In the event of a breach by the Company of any of their
obligations under this Warrant, the Registered Owner, in addition to being
entitled to exercise all rights granted by law and under the Purchase Agreement,
including recovery of damages, will be entitled to specific performance of its
rights under this Warrant. The Company agrees that monetary damages would not
provide adequate compensation for any losses incurred by reason of a breach by
it of any of the provisions of this Warrant and hereby further agree that, in
the event of any action for specific performance in respect of such breach, it
shall waive the defense that a remedy at law would be adequate.

         21. Mutilated or Missing Warrants. In case this Warrant shall be
mutilated, lost, stolen or destroyed, the Company, upon request of the
Registered Owner, shall issue and deliver in exchange and substitution for and
upon cancellation of such mutilated Warrant (upon surrender thereof), or in the
event that this Warrant is lost, stolen or destroyed, a new Warrant of like
tenor and representing an equivalent right or interest upon any indemnification
undertaking by the Holder to the Company in customary form as reasonably
required by the Company.

<PAGE>

         IN WITNESS WHEREOF, the Company has caused this Warrant to be executed
by its duly authorized officer as of the date first set forth above.

                                                     WEBMODAL, INC.

                                                     By:________________________
                                                     Name: Christopher R. Kravas
                                                     Title: President

<PAGE>

                                    EXHIBIT A

                              Warrant Exercise Form
                              ---------------------

TO:      WEBMODAL, INC.

         The undersigned hereby: (1) irrevocably subscribes for and offers to
purchase _______ shares of Common Stock of ___________________, Inc., pursuant
to Warrant No. ___ heretofore issued to Net Value Holdings, Inc. on May 9, 2000;
(2) encloses either (a) a cash payment of $__________ or (b) a Warrant
representing _____ shares of Common Stock valued at the Per Share Market Price
of $ _____ on ________, ____, for these shares at a price of $____ per share (as
adjusted pursuant to the provisions of the Warrant); and (3) requests that a
certificate for the shares be issued in the name of the undersigned, or the
undersigned's designee, and delivered to the undersigned, or the undersigned's
designee, at the address specified below.

                  Date:                           ______________________________

                  Investor Name:                  ______________________________

                  Taxpayer Identification Number: ______________________________

                  By:                             ______________________________

                  Printed Name:                   ______________________________

                  Title:                          ______________________________

                  Address:                        ______________________________

                  Cashless Exercise (Y or N):     ______________________________

                  Note: The above signature should correspond exactly with the
                  name on the face of this Warrant Certificate or with the name
                  of assignee appearing in assignment form below.

AND, if said number of shares shall not be all the shares purchasable under the
within Warrant, a new Warrant Certificate is to be issued in the name of said
undersigned for the balance remaining of the shares purchasable thereunder less
any fraction of a share paid in cash and delivered to the address stated above.<PAGE>

                                                         STOCKHOLDERS' AGREEMENT
                                                         -----------------------

                  This Stockholders' Agreement (this "Agreement"), is made as of
May 9, 2000, by and among Webmodal, Inc., a Delaware corporation (the
"Company"), Net Value Holdings, Inc. (the "Investor"), and Christopher R. Kravas
(the "Founder") and such other parties as may from time to time and with the
consent of the Company become parties hereto (the Founder and the other parties
who become parties hereto being collectively referred to as the "Principal
Stockholders" and, collectively with the Investor, the "Stockholders"). This
Agreement shall become effective as of the Closing (as defined therein) of that
certain Series A Preferred Stock Purchase Agreement dated as of even date
herewith (the "Purchase Agreement") by and between the Company and the Investor.

                                    RECITALS
                                    --------

                  WHEREAS, the parties hereto desire to restrict the sale,
assignment, transfer, encumbrance or other disposition of the securities of the
Company which the Principal Stockholders currently own or may hereafter acquire
(collectively, the "Securities") and to provide for certain rights and
obligations in respect thereto as hereinafter provided and the parties also wish
to agree upon the composition of the Board of Directors.

                  WHEREAS, the execution and delivery of this Agreement by the
Company, the Investor and the Principal Stockholders is a condition to the
closing of the issuance, sale and purchase of the Series A Preferred Stock
pursuant to the Purchase Agreement.

                                    AGREEMENT

                  NOW, THEREFORE, in consideration of the agreements set forth
herein and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto, intending to be legally bound
hereby, agree as follows:

         1.       Restrictions on Transfers.

         1.1      General Prohibition on Transfers; Permitted Transfers.

                  (a) Except as otherwise permitted hereby, no Stockholder shall
directly or indirectly sell, assign, pledge, encumber or otherwise transfer to
any person or entity (a "Transferee") any Securities unless the Stockholder has
complied with all of the terms of this Agreement. Any purported sale,
assignment, pledge, encumbrance or other transfer in violation of any provision
of this Agreement shall be void and ineffective and shall not operate to
transfer any interest or title to the purported Transferee.

                  (b) The restrictions contained in this Agreement with respect
to transfers by Stockholders of Securities shall not apply (i) to repurchases of
Securities of a Principal Stockholder pursuant to any stock option plan or other
incentive agreement, plan or arrangement approved by the board of directors of
the Company between the Principal Stockholder and the Company which provides the
Company with the right to repurchase such Securities; (ii) to any transfer of
Securities by a Principal Stockholder to any such Principal Stockholder's
spouse, parents, siblings (by blood or adoption) or lineal descendants (by blood
or adoption); (iii) to any transfer of Securities by a Principal Stockholder to
a trust, partnership, corporation, limited liability company or other similar
entity solely for the benefit of such Principal Stockholder or such Principal
Stockholder's spouse, parents, siblings or lineal descendants; (iv) to any
transfer of Securities by a Principal Stockholder, or upon a Principal
Stockholder's death to the executors, administrators, testamentary trustees,
legatees or beneficiaries of such Principal Stockholder; or (v) to any transfer
of Securities by the Investor to its Affiliates (as defined in Section
1.2(b)(iii) hereof); provided, that in each of clauses (ii) through (v), each
transferee, donee, heir or distributee shall, as a condition precedent to such
transfer, become a party to this Agreement by executing an Adoption Agreement
substantially in the form attached as Annex A and shall have all of the rights
and obligations of a Stockholder hereunder.

<PAGE>

         1.2      Right of First Offer.

                  (a) Except as otherwise permitted in Section 1.1(b) of this
Agreement, transfers of the Securities by Stockholders shall not be permitted
unless the Stockholder has complied with this Section 1.2. Any Stockholder who
intends to transfer any of such Stockholder's Securities (the "Proposed Seller")
shall give written notice (the "Seller's Notice") to the Company and each other
Stockholder (the "Offerees") stating that the Proposed Seller intends to make
such a transfer, identifying the party who made the bona fide offer, if any (the
"Proposed Transferee"), specifying the number of Securities proposed to be
transferred (the "First Offer Shares"), and specifying the per share purchase
price at which the Proposed Seller intends to transfer the First Offer Shares or
which the Proposed Transferee, if any, has offered to pay for the First Offer
Shares (the "Sale Price"). A copy of the bona fide offer, if available, and a
statement of the number of shares held by each Stockholder shall be attached to
the Seller's Notice, if available.

                  (b) (i) Upon delivery of the Seller's Notice, the Company
shall have the irrevocable and exclusive option to purchase, upon delivery to
the Proposed Seller within 20 days of delivery of the Seller's Notice, all or
any portion of the First Offer Shares at the price specified in the Seller's
Notice and, if pursuant to a bona fide offer, on the same terms as the bona fide
offer. The Company shall deliver a notice (the "Company Notice") to the Proposed
Seller and each of the Offerees of its election to purchase such First Offer
Shares within such 20 day period. To the extent that the Company does not elect
to purchase all of the First Offer Shares, each Offeree shall have the
irrevocable and exclusive option to purchase up to that number of the remaining
First Offer Shares at the Sale Price as equals the product of (A) the number of
remaining First Offer Shares multiplied by (B) a fraction, the numerator of
which shall be the number of shares of Common Stock owned by such Offeree
(assuming full conversion and exercise of all convertible and exercisable
securities into Common Stock) and the denominator of which shall be the number
of shares of Common Stock owned by all of the Offerees (assuming full conversion
and exercise of all convertible and exercisable securities into Common Stock)
(the "Proportionate Share"). Upon delivery of the Company Notice, each Offeree
shall have 20 days to deliver to the Proposed Seller a written notice stating
whether it elects to exercise its option under this Section 1.2(b) and the
maximum number of First Offer Shares (up to all of such Offeree's Proportionate
Share) that it is willing to purchase, and such notice shall constitute an
irrevocable commitment to purchase such First Offer Shares, subject only to such
conditions as were contained in the bona fide offer, if applicable.

                           (ii) If an Offeree does not elect to purchase its
full Proportionate Share, the Proposed Seller shall deliver another written
notice to each Offeree that has elected to purchase its full Proportionate Share
(a "Fully Exercising Offeree") stating the number of unpurchased First Offer
Shares. Each Fully Exercising Offeree shall be entitled, by delivering written
notice to the Proposed Seller within five days following the delivery of such
notice, to purchase up to all of the remaining First Offer Shares at the Sale
Price. In the event of an oversubscription, the oversubscribed amount shall be
allocated among such Fully Exercising Offerees pro rata based on the number of
shares of Common Stock (assuming full conversion and exercise of all convertible
and exercisable securities into Common Stock) owned by each of them. The
delivery of the notice of election under this paragraph shall constitute an
irrevocable commitment to purchase such First Offer Shares, subject only to such
conditions as were contained in the bona fide offer, if applicable. The closing
of the sale of First Offer Shares to the Company and any exercising Offerees
shall occur in accordance with the terms of the bona fide offer, if applicable,
and otherwise on or before the fifth business day following the expiration of
the first refusal rights under this Section 1.2. At such closing, the Proposed
Seller shall deliver a certificate or certificates representing the First Offer
Shares, properly endorsed for transfer, and the Company and the exercising
Offerees shall deliver payment of the purchase price therefor in accordance with
the terms of the bona fide offer, if applicable, and otherwise by cashier's
check or wire transfer of immediately available funds.

                           (iii) For the purposes of determining the number of
shares an Offeree is entitled to sell or purchase pursuant to this Agreement,
the shares held by the Investor shall be deemed to include any shares of Common
Stock (assuming full conversion and exercise of all convertible and exercisable
securities into Common Stock) held by officers, directors, employees and
affiliates of the Investor and any partners, officers or directors of the
Investor's affiliates ("Affiliates").

<PAGE>

                  (c) If any First Offer Shares are not elected to be purchased
pursuant to this Section 1.2, then, subject to Section 1.3 hereof, the Proposed
Seller shall be free, for a period of 90 days from the date of the Seller's
Notice, to sell the remaining First Offer Shares (i) to the Transferee at the
price and on the terms and conditions of the bona fide offer, if applicable, and
(ii) otherwise, at a price equal to or greater than the Sale Price and upon
terms no more favorable to the Transferee than those specified in the Seller's
Notice. Any transfer of the remaining First Offer Shares by the Proposed Seller
after the end of such 90 day period or any change in the terms of the sale as
set forth in the Seller's Notice which are more favorable to the Transferee
shall give rise anew to the rights provided in the preceding paragraphs.

                  (d) If the Company and/or the Offerees elect to purchase any
or all of the First Offer Shares mentioned in the Seller's Notice, the Company
and/or such Offeree shall have the right to purchase the First Offer Shares for
cash consideration whether or not part or all of the consideration specified in
the Seller's Notice is other than cash. If part or all of the consideration to
be paid for the First Offer Shares as stated in the Seller's Notice is other
than cash, the price stated in such Seller's Notice shall be deemed to be the
sum of the cash consideration, if any, specified in such Seller's Notice, plus
the fair market value of the non-cash consideration. The fair market value of
the non-cash consideration shall be determined by the Board of Directors of the
Company, and its judgment as to the fair market value of such non-cash
consideration shall be binding upon the Proposed Seller and the other Offerees.

         1.3 Right of Co-Sale. In the event that all of the First Offer Shares
are not purchased by the Company or the Offerees as provided in Section 1.2
hereof, the Proposed Seller (if it is not the Investor) shall deliver a notice
to the Investor informing the Investor of the number of First Offer Shares not
elected to be purchased by the Offerees and the number of First Offer Shares it,
he or she still holds and intends to sell to the Proposed Transferee (the
"Co-Sale Shares"). The Investor shall have the right, exercisable upon written
notice to the Proposed Seller within five days after the giving of such notice
by the Proposed Seller, to participate in the Proposed Seller's sale of Co-Sale
Shares at the Sale Price. The delivery of the notice of election under this
paragraph shall constitute an irrevocable commitment to sell such shares
contingent only upon the closing of the proposed sale on the terms communicated
in the notice. To the extent the Investor exercises such right of participation
in accordance with the terms and conditions set forth below, the number of
Securities which the Proposed Seller may sell to the Proposed Transferee shall
be correspondingly reduced. The right of participation of the Investor shall be
subject to the following terms and conditions:

                  (a) The Investor may elect to sell all or any part of that
number of shares of the Company held by the Investor equal to the product
obtained by multiplying (i) the aggregate number of Co-Sale Shares by (ii) a
fraction, the numerator of which is the number of shares of Common Stock of the
Company (assuming full conversion and exercise of all convertible and
exercisable securities into Common Stock) at the time owned by the Investor and
the denominator of which is the combined number of shares of Common Stock of the
Company (assuming full conversion and exercise of convertible and exercisable
securities into Common Stock) at the time owned by the Proposed Seller and the
Investor (the "Co-Sale Share").

                  (b) The Investor shall (i) effectuate the sale by promptly
delivering to the Proposed Seller for transfer to the Proposed Transferee one or
more certificates, properly endorsed for transfer, which represent the number of
shares of Common Stock which the Investor elects to sell and (ii) provide a
written representation and warranty to the Proposed Transferee that the shares
of capital stock represented by such certificates are free and clear of all
pledges, liens and other encumbrances and that the person transferring on behalf
of the Investor has requisite power to do so.

                  (d) The stock certificates which the Investor delivers to the
Proposed Seller shall be transferred by the Proposed Seller to the Proposed
Transferee in consummation of the sale pursuant to the terms and conditions
specified in the Sellers' Notice, and the Proposed Seller shall instruct the
Proposed Transferee to remit directly to the Investor that portion of the Sale
Price to which the Investor is entitled by reason of its participation in such

<PAGE>

sale. To the extent that any prospective purchaser or purchasers prohibits such
assignment or otherwise refuses to purchase securities from the Investor, the
Proposed Seller shall not sell to such prospective purchaser or purchasers any
Securities unless and until, simultaneously with such sale, the Proposed Seller
shall purchase such securities from the Investor for the same consideration and
on the same terms and conditions as the proposed transfer described in the
Seller's Notice.

         1.4 Additional Transactions. The exercise or non-exercise of the rights
of the Investor hereunder to participate in one or more sales made by a Proposed
Seller shall not adversely affect its rights to participate in subsequent sales
by such Proposed Seller or other Principal Stockholders.

         2.       Legended Certificates

         2.1 Principal Stockholders' Stock. Each certificate representing shares
of the Securities now or hereafter owned by the Investor or the Principal
Stockholders or their permitted Transferees pursuant to clauses (ii) through (v)
of Section 1.1(b) shall be endorsed with the following legend:

                           "THE SHARES REPRESENTED HEREBY MAY NOT BE VOTED,
                  SOLD, ASSIGNED, PLEDGED, ENCUMBERED, OR OTHERWISE TRANSFERRED
                  EXCEPT IN CONFORMITY WITH THE TERMS OF A STOCKHOLDERS'
                  AGREEMENT AMONG THE HOLDER (OR THE PREDECESSOR IN INTEREST TO
                  THE SHARES), THE COMPANY AND CERTAIN OTHER STOCKHOLDERS OF THE
                  COMPANY. THE COMPANY WILL UPON WRITTEN REQUEST FURNISH A COPY
                  OF SUCH AGREEMENT TO THE HOLDER HEREOF WITHOUT CHARGE."

                  The legend required under Section 2.1 hereof shall be removed
upon termination of this Agreement in accordance with the provisions of Section
5.1.

         3.       Prohibited Transfers

         3.1 Grant. In the event that any Proposed Seller (if it is not the
Investor) should sell any Securities in contravention of the participation
rights of the Investor under Section 1.3 of this Agreement (a "Prohibited
Transfer"), the Investor shall have the put option provided in Section 3.2.

         3.2 Put Option. In the event of a Prohibited Transfer, the Investor
shall have the option to sell to the Proposed Seller a number of shares of
Common Stock of the Company (either directly or through delivery of Series A
Preferred Stock) equal to the number of shares that the Investor would have been
entitled to sell had such Prohibited Transfer been effected in accordance with
Article 1 hereof, on the following terms and conditions:

                  (a) The price per share at which the shares are to be sold to
the Proposed Seller shall be equal to the price per share paid to the Proposed
Seller by the third-party purchaser or purchasers of the Proposed Seller's
Securities.

                  (b) The Investor shall deliver to the Proposed Seller, within
30 days after they have received notice from the Proposed Seller or otherwise
become aware of the Prohibited Transfer, the certificate or certificates
representing shares to be sold, each certificate to be properly endorsed for
transfer.

                  (c) The Proposed Seller shall, upon receipt of the
certificates for the repurchased shares, pay the aggregate purchase price
therefor provided for in this Article 3, by delivery of consideration in the
same form such Proposed Seller received for the Securities sold in the
Prohibited Transfer and shall reimburse the Investor for any expenses incurred,
including reasonable legal fees and expenses.

<PAGE>

         4.       Voting Provisions.

         4.1      Voting Agreement.

                  (a) The shares of Series A Preferred Stock, and, unless the
context requires otherwise, the shares of Common Stock issued or issuable upon
the conversion of such shares of Series A Preferred Stock are referred to in
this Agreement as the "Shares." The Investor and the Founder agree that, except
as set forth below, in any election of directors of the Company, the Founder
shall vote all shares of capital stock of the Company owned or controlled by him
to elect one (1) director designated by the Investor ("Investor Director").

                  (b) The Founder further agrees to vote 1,100 shares of common
stock held by him as directed by the Investor on all other matters submitted to
a vote by the shareholders of the Company. This subsection (b) shall expire on
the earlier of the termination of this Agreement in accordance with Section 5.1
or Investor's exercise in full (or the expiration) of the Stock Purchase Warrant
issued in favor of the Investor by the Company of even date herewith.

                  (c) In the event the Company for any reason is not in
compliance with its obligation to redeem shares of Series A Preferred Stock in
accordance with the terms and conditions in Article 7 of the Series A
Certificate (as defined in the Purchase Agreement), the Investor and Principal
Stockholders agree to vote all shares of capital stock of the Company owned or
controlled by them to increase the number of directors of the Company from five
(5) to nine (9) and to elect as directors of the Company five (5) directors
designated by the holders of a majority of the Shares.

         4.2 Elections, Vacancies, Removal. The Investor and each Principal
Stockholder agrees to use its, his or her best efforts to cause the Investor
Director to be elected to the Board of Directors as provided in Section 4.1. In
the event of any vacancy in the Board of Directors, the Investor and each
Principal Stockholder agrees to vote all shares of capital stock owned or
controlled by them and to otherwise use their best efforts to fill such vacancy
so that the Board of Directors of the Company will include directors designated
as provided in Section 4.1. Each Investor and each Principal Stockholder agrees
to vote all shares of capital stock owned or controlled by them for the removal
of the Investor Director whenever (but only whenever) there shall be presented
to the Board of Directors the written direction that the Investor Director be
removed, signed by the Investor.

         5.  General.

         5.1 Termination. This Agreement shall terminate upon the occurrence of,
and shall not be applicable to, any of the following events:

              (a) the liquidation, dissolution or indefinite cessation of the
business operations of the Company, or a merger, recapitalization,
reorganization or sale of all or substantially all of the assets of the Company
which will result in the Company's stockholders immediately prior to such event
not holding at least 50% of the voting power of the surviving, continuing or
purchasing entity immediately after such event;

              (b) the execution by the Company of a general assignment for the
benefit of creditors or the appointment of a receiver or trustee to take
possession of the property and assets of the Company;

              (c) the closing of the Company's first underwritten public
offering pursuant to an effective registration statement filed under the
Securities Act of 1933, as amended, covering the offer and sale of Common Stock
for the account of the Company in which the aggregate gross proceeds received
(before deduction of underwriters' discounts and commissions) equals or exceeds
$20 million at an offering price per share of Common Stock not less than four
(4) times the price per share paid by Investor to purchase shares of the
Company's Series A Preferred Stock pursuant to the Purchase Agreement (as
adjusted for any stock dividends, combinations, splits and similar events with
respect to the Common Stock) (a "Qualifying IPO");

              (d) the written agreement of the Company, the Investor and the
holders of a majority of the shares of Common Stock held by all the Principal
Stockholders hereunder; or

<PAGE>

              (e) upon the fifth (5th) anniversary of the execution of this
Agreement.

         5.2 Notices. All notices and other communications hereunder shall be in
writing and shall be deemed given if delivered personally or by commercial
delivery service, or mailed by registered or certified mail (return receipt
requested) or sent via facsimile (with confirmation of receipt) to the parties
at the following address for such party (or at such other address for a party as
shall be specified by like notice):

                  (i)      in the case of the Company:

                                    Webmodal, Inc.
                                    129 East Calhoun Street, Unit B
                                    Woodstock, IL 60098
                                    Attention: Christopher R. Kravas

                  (ii)     in the case of the Investor:

                                    NetValue Holdings, Inc.
                                    Two Penn Center Plaza, Suite 605
                                    Philadelphia, PA 19103
                                    Attn: Andrew Panzo

                  (iii) in the case of a Principal Stockholder, to the address
         for such Principal Stockholder listed on Schedule A hereto.

                  Notice given by personal delivery, courier service or mail
shall be effective upon actual receipt. Notice given by facsimile shall be
confirmed by appropriate answer back and shall be effective upon actual receipt
if received during the recipient's normal business hours, or at the beginning of
the recipient's next business day after receipt if not received during the
recipient's normal business hours. All notices by facsimile shall be confirmed
promptly after transmission in writing by certified mail, commercial delivery
service or personal delivery. Any party may change any address to which notice
is to be given to it by giving notice as provided above of such change of
address.

         5.3 Successors and Assigns. This Agreement and the rights and
obligations of the parties hereunder shall inure to the benefit of, and be
binding upon, their respective successors, assigns and legal representatives. By
their execution hereof or of an Adoption Agreement attached hereto as Annex A,
each party hereto hereby appoints the Company as its attorney-in-fact for the
sole purpose of executing Adoption Agreements with any subsequent permitted
transferees.

         5.4 Severability. In the event one or more of the provisions of this
Agreement should, for any reason be held to be invalid, illegal or
unenforceable, such provisions shall be excluded from this Agreement and the
balance of this Agreement shall be interpreted as if such provision had never
been contained herein.

         5.5 Entire Agreement; Amendments and Waivers. This Agreement
constitutes the entire agreement among the parties hereto with respect to the
subject matter hereof. Other than with respect to amendments to Schedule A
hereto, any amendment or modification of this Agreement shall be effective only
if evidenced by a written instrument executed by the Company, the Investor and
the holders of a majority of the shares of Common Stock held by all the
Principal Stockholders hereunder. Any waiver hereunder shall be effective only
if evidenced by a written instrument executed by the Investor or the holders of
a majority of the shares of Common Stock held by all the Principal Stockholders,
as the case may be, whose rights are being waived.

<PAGE>

         5.6 Governing Law. The construction, validity and interpretation of
this Agreement will be governed by the internal laws of the State of Delaware
without giving effect to any choice of law or conflict of law provision or rule
(whether of the State of Delaware or any other jurisdiction) that would cause
the application of the laws of any jurisdiction other than the State of
Delaware.

         5.7 Counterparts. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original but all of which, when
taken together, shall constitute one and the same instrument.

         5.8 Remedies. The parties hereto shall have all remedies for breach of
this Agreement available to them as provided by law or equity. Without limiting
the generality of the foregoing, the parties agree that in addition to any other
rights and remedies available at law or in equity, the parties shall be entitled
to obtain specific performance of the obligations of each party to this
Agreement and immediate injunctive relief and that, in the event any action or
proceeding is brought in equity or to enforce the same, no party will urge, as a
defense, that there is an adequate remedy at law.

                            [SIGNATURE PAGES FOLLOW]

<PAGE>

                  IN WITNESS WHEREOF, the parties have executed this
Stockholders' Agreement on the day and year indicated above.

                                                 COMPANY:
                                                 --------

                                                 WEBMODAL, INC.

                                                 By:____________________________
                                                    Name: Christopher R. Kravas
                                                    Title: President

                                                 INVESTOR:
                                                 ---------

                                                 NET VALUE HOLDINGS, INC.

                                                 By:____________________________
                                                    Name: Andrew P. Panzo
                                                    Title: President

                                                 PRINCIPAL STOCKHOLDERS:
                                                 ----------------------

                                                 _______________________________
                                                 Christopher R. Kravas

<PAGE>

                                   Schedule A
                       Schedule of Principal Stockholders

[Name and Address]

______________________ ______________________ Fax Number:__________________
[Name and Address]

______________________ ______________________ Fax Number:__________________

<PAGE>

                                     ANNEX A
                                     -------

                               ADOPTION AGREEMENT
                               ------------------

                  This Adoption Agreement ("Adoption Agreement") is executed by
the undersigned (the "Transferee") pursuant to the terms of that certain
Stockholders' Agreement dated as of May 9, 2000 (the "Agreement") by and among
Webmodal, Inc., Net Value Holdings, Inc. and certain Principal Stockholders.
Capitalized terms used but not defined herein shall have the respective meanings
ascribed to such terms in the Agreement. By the execution of this Adoption
Agreement, the Transferee agrees as follows:

                  1. Acknowledgment. Transferee acknowledges that Transferee is
acquiring certain securities of the Company (the "Securities"), subject to the
terms and conditions of the Agreement.

                  2. Agreement. Transferee (i) agrees that the Securities
acquired by Transferee shall be bound by and subject to the terms of the
Agreement, and (ii) hereby adopts the Agreement with the same force and effect
as if Transferee were originally a party thereto.

                  3. Notice. Any notice required or permitted by the Agreement
shall be given to Transferee at the address listed beside Transferee's signature
below.

                  EXECUTED AND DATED this __ day of _________________, 200_.

                                            TRANSFEREE:

                                            By:_________________________________
                                            Name:_______________________________
                                            Title:______________________________
                                            Address:____________________________
                                            Fax:________________________________

                                            Spouse: (if applicable):
                                            ____________________________________
                                            Name:

<PAGE>

                  Accepted and agreed to by the Company on behalf of itself and
pursuant to Section 5.3 on behalf of the other parties to the Agreement.

                                                     Webmodal, Inc.

                                                     By:________________________
                                                     Name:______________________
                                                     Title:_____________________

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00010-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00010-of-00352.parquet"}]]