Document:

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

    

    
      	 
      	
              Right
      to Purchase _______ shares of Common Stock of Sanswire
      Corp. (subject to adjustment as provided
herein)

            

    

    

    CLASS
B COMMON STOCK PURCHASE WARRANT

     

    
      	
              No.
      2009-B-_____

            	
              Issue
      Date:
_____________ ___, 2009

            

    

    

    SANSWIRE
CORP., a corporation organized under the laws of the State of Delaware (the
“Company”), hereby certifies that, for value received,
____________________________ or its assigns (the “Holder”), is entitled, subject
to the terms set forth below, to purchase from the Company at any time after the
Issue Date until 5:00 p.m., E.S.T on the date three years from the Closing Date
(the “Expiration Date”), up to ________ fully paid
and nonassessable shares of the common stock of the Company (the “Common
Stock”), $.00001 par value per share at a per share purchase price of
$.315.  The aforedescribed purchase price per share, as adjusted from
time to time as herein provided, is referred to herein as the "Purchase
Price."  The number and character of such shares of Common Stock and
the Purchase Price are subject to adjustment as provided herein.  The
Company may reduce the Purchase Price without the consent of the
Holder.  Capitalized terms used and not otherwise defined herein shall
have the meanings set forth in that certain Subscription Agreement (the “Subscription Agreement”),
dated February ___, 2009, entered into by the Company and Holder’s of the Class
B Warrants.

    

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

     

    (a)           The
term “Company” shall include Sanswire Corp. and any corporation which shall
succeed or assume the obligations of Sanswire Corp. hereunder.

     

    (b)           The
term “Common Stock” includes (a) the Company's Common Stock, $.00001 par
value per share, as authorized on the date of the Subscription Agreement, and
(b) any other securities into which or for which any of the securities described
in (a) may be converted or exchanged pursuant to a plan of
recapitalization, reorganization, merger, sale of assets or
otherwise.

     

    (c)           The
term “Other Securities” refers to any stock (other than Common Stock) and other
securities of the Company or any other person (corporate or otherwise) which the
holder of the Warrant at any time shall be entitled to receive, or shall have
received, on the exercise of the Warrant, in lieu of or in addition to Common
Stock, or which at any time shall be issuable or shall have been issued in
exchange for or in replacement of Common Stock or Other Securities pursuant to
Section 4 or otherwise.

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    1.           Exercise of
Warrant.

     

    1.1.           Number of Shares Issuable
upon Exercise.  From and after the Issue Date through and
including the Expiration Date, the Holder hereof shall be entitled to receive,
upon exercise of this Warrant in whole in accordance with the terms of
subsection 1.2 or upon exercise of this Warrant in part in accordance with
subsection 1.3, shares of Common Stock of the Company, subject to
adjustment pursuant to Section 4.

     

    1.2.           Full
Exercise.  This Warrant may be exercised in full by the Holder
hereof by delivery of an original or facsimile copy of the form of subscription
attached as Exhibit A hereto (the “Subscription Form") duly executed by
such Holder and surrender of the original Warrant within three (3) days of
exercise, to the Company at its principal office or at the office of its Warrant
Agent (as provided hereinafter), accompanied by payment, in cash, wire transfer
or by certified or official bank check payable to the order of the Company, in
the amount obtained by multiplying the number of shares of Common Stock for
which this Warrant is then exercisable by the Purchase Price then in
effect.

     

    1.3.           Partial
Exercise.  This Warrant may be exercised in part (but not for a
fractional share) by surrender of this Warrant in the manner and at the place
provided in subsection 1.2 except that the amount payable by the Holder on
such partial exercise shall be the amount obtained by multiplying (a) the
number of whole shares of Common Stock designated by the Holder in the
Subscription Form by (b) the Purchase Price then in effect.  On
any such partial exercise, the Company, at its expense, will forthwith issue and
deliver to or upon the order of the Holder hereof a new Warrant of like tenor,
in the name of the Holder hereof or as such Holder (upon payment by such Holder
of any applicable transfer taxes) may request, the whole number of shares of
Common Stock for which such Warrant may still be exercised.

     

    1.4.           Fair Market Value.
Fair Market Value of a share of Common Stock as of a particular date (the
"Determination Date") shall mean:

     

       (a)           If
the Company's Common Stock is traded on an exchange or is quoted on the National
Association of Securities Dealers, Inc. Automated Quotation ("NASDAQ"), National
Market System, the NASDAQ SmallCap Market or the American Stock Exchange, LLC,
then the closing or last sale price, respectively, reported for the last
business day immediately preceding the Determination Date;

     

       (b)           If
the Company's Common Stock is not traded on an exchange or on the NASDAQ
National Market System, the NASDAQ SmallCap Market or the American Stock
Exchange, Inc., but is traded in the over-the-counter market, then the average
of the closing bid and ask prices reported for the last business day immediately
preceding the Determination Date;

     

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

     

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

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    1.5.           Company
Acknowledgment. The Company will, at the time of the exercise of the
Warrant, upon the request of the Holder hereof acknowledge in writing its
continuing obligation to afford to such Holder any rights to which such Holder
shall continue to be entitled after such exercise in accordance with the
provisions of this Warrant. If the Holder shall fail to make any such request,
such failure shall not affect the continuing obligation of the Company to afford
to such Holder any such rights.

     

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

     

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

     

     2.           Cashless
Exercise.

     

     (a)           If
a Registration Statement (as defined in the Subscription Agreement)
(“Registration Statement”) is effective and the Holder may sell its shares of
Common Stock upon exercise hereof pursuant to the Registration Statement, this
Warrant may be exercisable in whole or in part for cash only as set forth in
Section 1 above.  If no such Registration Statement is available
during the time that such Registration Statement is required to be effective
pursuant to the terms of the Subscription Agreement, then payment upon exercise
may be made at the option of the Holder either in (i) cash, wire transfer
or by certified or official bank check payable to the order of the Company equal
to the applicable aggregate Purchase Price, (ii) by delivery of Common Stock
issuable upon exercise of the Warrants in accordance with
Section (b) below or (iii) by a combination of any of the
foregoing methods, for the number of Common Stock specified in such form (as
such exercise number shall be adjusted to reflect any adjustment in the total
number of shares of Common Stock issuable to the holder per the terms of this
Warrant) and the holder shall thereupon be entitled to receive the number of
duly authorized, validly issued, fully-paid and non-assessable shares of Common
Stock (or Other Securities) determined as provided herein.

     

     (b)           If
the Fair Market Value of one share of Common Stock is greater than the Purchase
Price (at the date of calculation as set forth below), in lieu of exercising
this Warrant for cash, the holder may elect to receive shares equal to the value
(as determined below) of this Warrant (or the portion thereof being cancelled)
by surrender of this Warrant at the principal office of the Company together
with the properly endorsed Subscription Form in which event the Company shall
issue to the holder a number of shares of Common Stock computed using the
following formula:

     

      X=Y (A-B)

          
     A

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    
      	
                                    
            Where

            	
               X=

            	
              the
      number of shares of Common Stock to be issued to the
  holder

            

    

    

    
      	
               
      

            	
               Y=

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

            

    

     

    
      	
               
      

            	
               A=

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

            

    

     

    
      	
               
      

            	
               B=

            	
              Purchase
      Price (as adjusted to the date of such
  calculation)

            

    

     

    (c)           The
Holder may employ the cashless exercise feature described in Section (b) above
only during the pendency of a Non-Registration Event as described in Section
7(e) of the Registration Rights Agreement.

     

    For
purposes of Rule 144 promulgated under the 1933 Act, it is intended, understood
and acknowledged that the Warrant Shares issued in a cashless exercise
transaction shall be deemed to have been acquired by the Holder, and the holding
period for the Warrant Shares shall be deemed to have commenced, on the date
this Warrant was originally issued pursuant to the Subscription
Agreement.

     

    3.           Adjustment for
Reorganization, Consolidation, Merger, etc.

     

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

     

    3.2.           Dissolution.  In
the event of any dissolution of the Company following the transfer of all or
substantially all of its properties or assets, the Company, prior to such
dissolution, shall at its expense deliver or cause to be delivered the stock and
other securities and property (including cash, where applicable) receivable by
the Holder of the Warrants after the effective date of such dissolution pursuant
to this Section 3 to a bank or trust company (a "Trustee") having its
principal office in New York, NY, as trustee for the Holder of the
Warrants.

     

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

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    3.4           Share
Issuance.  Until the Expiration Date, if the Company shall
issue any Common Stock except for the Excepted Issuances (as defined in the
Subscription Agreement), prior to the complete exercise of this Warrant for a
consideration less than the Purchase Price that would be in effect at the time
of such issue, then, and thereafter successively upon each such issue, the
Purchase Price shall automatically and with no action required by the Company or
Holder, be reduced to such other lower issue price.  For purposes of
this adjustment, the issuance of any security or debt instrument of the Company
carrying the right to convert such security or debt instrument into Common Stock
or of any warrant, right or option to purchase Common Stock shall result in an
adjustment to the Purchase Price upon the issuance of the above-described
security, debt instrument, warrant, right, or option and again at any time upon
any subsequent issuances of shares of Common Stock upon exercise of such
conversion or purchase rights if such issuance is at a price lower than the
Purchase Price in effect upon such issuance.  The reduction of the
Purchase Price described in this Section 3.4 is in addition to the other rights
of the Holder described in the Subscription Agreement.

     

    4.           Extraordinary Events
Regarding Common Stock.  In the event that the Company shall
(a) issue additional shares of the Common Stock as a dividend or other
distribution on outstanding Common Stock, (b) subdivide its outstanding
shares of Common Stock, or (c) combine its outstanding shares of the Common
Stock into a smaller number of shares of the Common Stock, then, in each such
event, the Purchase Price shall, simultaneously with the happening of such
event, be adjusted by multiplying the then Purchase Price by a fraction, the
numerator of which shall be the number of shares of Common Stock outstanding
immediately prior to such event and the denominator of which shall be the number
of shares of Common Stock outstanding immediately after such event, and the
product so obtained shall thereafter be the Purchase Price then in effect. The
Purchase Price, as so adjusted, shall be readjusted in the same manner upon the
happening of any successive event or events described herein in this
Section 4. The number of shares of Common Stock that the Holder of this
Warrant shall thereafter, on the exercise hereof as provided in Section 1,
be entitled to receive shall be adjusted to a number determined by multiplying
the number of shares of Common Stock that would otherwise (but for the
provisions of this Section 4) be issuable on such exercise by a fraction of
which (a) the numerator is the Purchase Price that would otherwise (but for
the provisions of this Section 4) be in effect, and (b) the
denominator is the Purchase Price in effect on the date of such
exercise.

     

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

     

    6.           Reservation of Stock, etc.
Issuable on Exercise of Warrant; Financial
Statements.   The Company will at all times reserve and
keep available, solely for issuance and delivery on the exercise of the
Warrants, all shares of Common Stock (or Other Securities) from time to time
issuable on the exercise of the Warrant.  This Warrant entitles the
Holder hereof to receive copies of all financial and other information
distributed or required to be distributed to the holders of the Company's Common
Stock.

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    7.           Assignment; Exchange of
Warrant.  Subject to compliance with applicable securities
laws, this Warrant, and the rights evidenced hereby, may be transferred by any
registered holder hereof (a "Transferor"). On the surrender for exchange of this
Warrant, with the Transferor's endorsement in the form of Exhibit B
attached hereto (the “Transferor Endorsement Form") and together with an opinion
of counsel reasonably satisfactory to the Company that the transfer of this
Warrant will be in compliance with applicable securities laws, the Company at
its expense, twice, only, but with payment by the Transferor of any applicable
transfer taxes, will issue and deliver to or on the order of the Transferor
thereof a new Warrant or Warrants of like tenor, in the name of the Transferor
and/or the transferee(s) specified in such Transferor Endorsement Form (each a
"Transferee"), calling in the aggregate on the face or faces thereof for the
number of shares of Common Stock called for on the face or faces of the Warrant
so surrendered by the Transferor.  No such transfers shall result in a
public distribution of the Warrant.

     

    8.           Replacement of
Warrant.  On receipt of evidence reasonably satisfactory to the
Company of the loss, theft, destruction or mutilation of this Warrant and, in
the case of any such loss, theft or destruction of this Warrant, on delivery of
an indemnity agreement or security reasonably satisfactory in form and amount to
the Company or, in the case of any such mutilation, on surrender and
cancellation of this Warrant, the Company at its expense, twice only, will
execute and deliver, in lieu thereof, a new Warrant of like tenor.

     

    9.           Registration
Rights.  The Holder of this Warrant has been granted certain
registration rights by the Company.  These registration rights are set
forth in the Registration Rights Agreement.  The terms of the
Registration Rights Agreement are incorporated herein by this
reference.   Upon the occurrence of a Non-Registration Event, or
in the event the Company is unable to issue Common Stock upon exercise of this
Warrant that has been registered in a Registration Statement described
REgistration Rights Agreement, within the time periods described in such
Agreement, which Registration Statement must be effective for the periods set
forth in the Agreement, then upon written demand made by the Holder, the Company
will pay to the Holder of this Warrant, in lieu of delivering Common Stock, a
sum equal to the closing price of the Company's Common Stock on the principal
market or exchange upon which the Common Stock is listed for trading on the
trading date immediately preceding the date notice is given by the Holder, less
the Purchase Price, for each share of Common Stock designated in such notice
from the Holder.

     

    10.           Maximum
Exercise.  The Holder shall not be entitled to exercise this
Warrant on an exercise date, in connection with that number of shares of Common
Stock which would be in excess of the sum of (i) the number of shares of
Common Stock beneficially owned by the Holder and its affiliates on an exercise
date, and (ii) the number of shares of Common Stock issuable upon the
exercise of this Warrant with respect to which the determination of this
limitation is being made on an exercise date, which would result in beneficial
ownership by the Holder and its affiliates of more than 4.99% of the outstanding
shares of Common Stock on such date.  For the purposes of the
immediately preceding sentence, beneficial ownership shall be determined in
accordance with Section 13(d) of the Securities Exchange Act of 1934,
as amended, and Regulation 13d-3 thereunder.  Subject to the
foregoing, the Holder shall not be limited to aggregate exercises which would
result in the issuance of more than 4.99%.  The restriction described
in this paragraph may be revoked upon sixty-one (61) days prior notice from
the Holder to the Company.  The Holder may allocate which of the
equity of the Company deemed beneficially owned by the Subscriber shall be
included in the 4.99% amount described above and which shall be allocated to the
excess above 4.99%.

     

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

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    12.           Transfer on the Company's
Books.  Until this Warrant is transferred on the books of the
Company, the Company may treat the registered holder hereof as the absolute
owner hereof for all purposes, notwithstanding any notice to the
contrary.

     

    13.           Notices.   All
notices, demands, requests, consents, approvals, and other communications
required or permitted hereunder shall be in writing and, unless otherwise
specified herein, shall be (i) personally served, (ii) deposited in the mail,
registered or certified, return receipt requested, postage prepaid, (iii)
delivered by reputable air courier service with charges prepaid, or (iv)
transmitted by hand delivery, telegram, or facsimile, addressed as set forth
below or to such other address as such party shall have specified most recently
by written notice.  Any notice or other communication required or
permitted to be given hereunder shall be deemed effective (a) upon hand delivery
or delivery by facsimile, with accurate confirmation generated by the
transmitting facsimile machine, at the address or number designated below (if
delivered on a business day during normal business hours where such notice is to
be received), or the first business day following such delivery (if delivered
other than on a business day during normal business hours 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 shall be: (i) if to the Company to: Sanswire
Corp., 101 NE 3rd Ave.,
Suite 1500, Fort Lauderdale, FL 33301, Attn: Jonathan Leinwand, CEO, telecopier
number: (954) 252-4265, and (ii) if to the Holder, to the address and telecopier
number listed on the first paragraph of this Warrant, with a copy by telecopier
only to: ________________________

    _____________________________________________________.

     

    14.           Miscellaneous.  This
Warrant and any term hereof may be changed, waived, discharged or terminated
only by an instrument in writing signed by the party against which enforcement
of such change, waiver, discharge or termination is sought. This Warrant shall
be construed and enforced in accordance with and governed by the laws of
Florida.  Any dispute relating to this Warrant shall be adjudicated in
Broward County in the State of Florida.  The headings in this Warrant
are for purposes of reference only, and shall not limit or otherwise affect any
of the terms hereof.  The invalidity or unenforceability of any
provision hereof shall in no way affect the validity or enforceability of any
other provision.

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

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

     

    
      
        
          
            
              	 
      	
                      SANSWIRE
      CORP.

                    
	 
      	 
      
	 
      	
                      By:

                    	
                        

                    
	 
      	
                      Jonathan
      Leinwand

                    
	 
      	
                      CEO

                    
	 
      	 
      
	
                      Witness:

                    	 
      
	 	 
	 
      	 
      

            

          

        

      

    

    

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    Exhibit A

    

    FORM OF
SUBSCRIPTION

    (to be
signed only on exercise of Warrant)

    TO:  SANSWIRE
CORP.

     

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

    

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

     

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

    

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

     

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

     

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

    

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

    

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

    __________________________________________________________________________________________________________________________________________________________________________

     

    Number of Shares of Common Stock Beneficially Owned on
the date of exercise: Less than five percent (5%) of the outstanding Common
Stock of Sanswire Corp..

    

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

    

    
      
        
          
            
              	
                      Dated:___________________

                    	 
      
	 
      	
                      (Signature
      must conform to name of holder as specified on the face of the
      Warrant)

                    
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	
                       (Address)

                    

            

          

        

      

    

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    Exhibit B

    

    FORM OF
TRANSFEROR ENDORSEMENT

    (To be
signed only on transfer of Warrant)

     

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

    

    
      
        
          
            	
                    Transferees

                  	  	
                    Percentage Transferred

                  	  	
                    Number Transferred

                  
	  	  	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                      

                  	 
      	
                      

                  	 
      

          

        

      

    

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  	
                                          Dated:  ______________,
      ___________

                                        	 
      	 
      
	 
      	 
      	
                                          (Signature
      must conform to name of holder as specified on the face of the
      warrant)

                                        
	 
      	 
      	 
      
	
                                          Signed
      in the presence of:

                                        	 
      	 
      
	 	 	 
	 
      	 
      	 
      
	      
                                          (Name) 
    

                                        	 
      	 
      
	
                                           

                                        	 
      	
                                          (address)

                                        
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                          ACCEPTED
      AND AGREED:

                                        	 
      	 
      
	
                                          [TRANSFEREE]

                                        	 
      	
                                          (address)

                                        
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                          (Name)Unassociated Document

    
      

      Exhibit
10.01

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

     

    EXECUTIVE EMPLOYMENT
AGREEMENT

    

    This EMPLOYMENT AGREEMENT (this
“Agreement”) is made as of February __, 2009 (“Effective
Date”) by and between
INNOVATIVE CARD TECHNOLOGIES, INC., a Delaware corporation (the “Company”), and RICHARD NATHAN (“Executive”), with reference to the following
facts:

    

    RECITALS

    

    A.            Innovative Card Technologies, Inc., a
Delaware corporation (the “Company”), is a public company that develops
and markets secure powered cards for payment, identification, physical and
logical access applications.

    

    B.            The Company desires to employ the
Executive, and the Executive desires to be employed by the
Company.

    

    NOW, THEREFORE, in consideration of the
mutual covenants and promises contained herein, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged by
the parties hereto, the parties agree as follows:

    

    TERMS

     

    1.             Employment. The Company hereby employs Executive
and Executive hereby accepts such employment upon the terms and conditions
hereinafter set forth. Irrespective of the date on which this Agreement is
executed, Executive’s date of employment with the Company is November 17, 2008.

     

    2.             Duties. Subject to the terms and provisions of
this Agreement, Executive is hereby employed by the Company as Chief Executive
Officer and President of the Company. Executive shall have full responsibility
and authority for such duties as customarily are associated with service as
Chief Executive Officer and President of the Company at the direction of the
Board of Directors of the Company (the “Board”). Executive shall faithfully and
diligently perform such duties assigned to Executive and shall report directly
to the Board.

     

    3.             Scope of
Services. Executive shall
devote substantially all of his business time, attention, energies, skills,
learning and efforts to the Company’s business.

     

    4.             At-Will. Executive’s employment with the Company
shall be at all times at-will employment and Company reserves the right to
terminate Executives employment and this Agreement for any reason with or
without cause, at any time in its sole discretion as provided for in Section 7
of the Agreement.  Likewise, Executive may terminate his employment at
any time and for any reason as provided for in Section 7 of this
Agreement.

    
               
5.            Compensation.

     

    5.1           Salary. Executive’s annual compensation
(“Base
Compensation”) under this
Agreement shall be $240,000 per year, prorated for any partial
year, commencing upon the Effective Date. The Base Compensation shall be payable
in equal bi-monthly installments on the fifteenth and end of each month.

     

    5.2
            Bonus.                      Executive shall be entitle to an annual
cash bonus equal to 3% of the increase in market capitalization of the Company
for the period commencing on January 1, 2009 and ending on December 31,
2009.  Executive shall also be entitled to an annual cash bonus in all
subsequent years in which he is employed equal to 2% of the increase in market
capitalization of the Company during each applicable year
thereafter.  The cash bonus shall be paid to Executive no later than
January 31 of the year following the year in which the bonus is
earned.  At the Company’s option, the cash bonus may be paid to
Executive in four (4) equal payments, the first payment on January 31 of the
year following the year in which the bonus is earned and the remaining three
equal payments shall be made on April 30, July 31 and October 31 of such
year.   The cash bonus will be deemed earned on December 31 of
each respective year.  In the event the Company elects to make such
payment in four equal installments, such payments will be made irrespective of
Executives employment at the time such payments become
due.    In the event of an acquisition, merger or other
pooling of resources with another company, the bonus will be earned based on the
market capitalization of the company at the time of the merger or acquisition,
and the bonus cash shall be paid to the Executive within 30 days of the merger
or acquisition date.  For purposes of clarification, in the event of a
decrease in the market capitalization of the Company during any applicable
period, Executive will not earn a bonus.  Under no circumstance will
Executive be required to return a previously earned bonus or pay any sums to the
Company as a result of a decrease in market capitalization.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    5.3          Expenses. The Company shall reimburse Executive
for all reasonable business, entertainment and travel expenses actually incurred
or paid by Executive in the performance of his services on behalf of the
Company, in accordance with the Company’s expense reimbursement policy as from
time to time in effect.

     

    5.4          Options. The Executive shall be eligible to
participate in the Company’s Stock Incentive Plan, and receive option grant(s)
there under for the purchase of common stock of the Company (“
Options ” or “
Option ”) at the discretion
of the Board of
Directors. The Executive
shall receive an initial issuance of one million (1,000,000) Options to be
issued and priced at the closing price on November 17, 2008, subject to formal approval of the
option grants by the Company’s Board of Directors. The Options granted to the Executive
pursuant to this Section 5.4 shall have a term of 5 years and vest quarterly over 2 years so long as
Executive remains employed by the Company.  In the event Executive is
terminated or resigns prior to the vesting of all Options, any unvested options
shall lapse 90 days after termination.

    

    5.5          Vacation. Executive shall be entitled to four
(4) weeks paid vacation per year; to be taken at such times as may be approved
by the Company’s Board of Directors or its designee. The Executive shall be
entitled to carry forward from year to year unused vacation days and shall be
entitled to compensation therefore upon termination of
employment.

     

    5.6          Other Rights
and Benefits. Executive and
his dependents shall receive all medical, dental, vision, short/long term
disability and drug prescription insurance through the Company’s group plan of
insurance or reimbursement for private insurance, including any COBRA coverage
available to Executive, or private insurance if such COBRA coverage ceases to be
available, at Executive’s option.  

     

    6.             Taxation of
Payments and Benefits. The
Company shall undertake to make deductions, withholdings and tax reports with
respect to payments and benefits under this Agreement to the extent that it
reasonably and in good faith believes that it is required to make such
deductions, withholdings and tax reports. Payments under this Agreement shall be
in amounts net of any such deductions or withholdings. Nothing in this Agreement
shall be construed to require the Company to make any payments to compensate the
Executive for any adverse tax effect associated with any payments or benefits or
for any deduction or withholding from any payment or
benefit.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    7.                   Termination or
Resignation.  Executive’s termination or
resignation of employment shall be effective 30 days after the termination or
resignation notice is given by the Company or Executive, respectively
(“Termination Effective Date”).   

    

    8.                               Payment Upon
Termination.  Upon Executive's termination of employment by either the
Company or Executive, all accrued but unpaid compensation as provided for in
Section 5 shall be paid within five (5) days following
the Termination Effective
Date.  For purposes of calculating the Bonus as provided for in
Sections 5.2, the applicable measurement period shall be the period of time from
the beginning of the respective year through the Termination Effective
Date.

    

    9.             Representations
and Warranties. Executive
hereby represents and warrants to Company that as of the date of execution of
this Agreement: (i) this Agreement will not cause or require Executive to breach
any obligation to, or agreement or confidence with, any other person; (ii)
Executive is not representing, or otherwise affiliated in any capacity with, any
other lines of products, manufacturers, vendors or customers of the Company; and
(iii) Executive has not been induced to enter into this Agreement by any promise
or representation other than as expressly set forth in this
Agreement.

     

    10.             Non-Solicitation
and Non-Competition.

     

    10.1                        Non-Solicitation
of Employees. Executive
agrees that he will not, while employed by the Company and for a period of two
(2) years following termination of such employment:

     

    (a)             directly solicit, encourage, or take any
other action which is intended to induce any other employee of the Company to
terminate his or her employment with the Company; or

     

    (b)             directly interfere in any manner with
the contractual or employment relationship between the Company and any such
employee of the Company.

     

    The foregoing shall not prohibit
Executive or any entity with which Executive may later be affiliated from hiring
a former or existing employee of the Company or any of its subsidiaries,
provided that such hiring does not result from the direct actions of Executive.
For purposes of this Section, any reference to the Company shall include all of
the Company’s Affiliates. As used herein, “Affiliate” means any person or entity
controlling, controlled by or under common control with another person or
entity.

     

    10.2                        Non-Solicitation
of Customers with respect to Competitive Business Activity. Executive agrees that he will not,
while employed by the Company, directly or indirectly, whether for his own
account or for the account of any other individual or entity, solicit the
business or patronage of any customers of the Company with respect to products
and/or services directly related to a Competitive Business Activity.
“ Competitive
Business Activity ” shall
mean engaging in, whether independently or as an employee, agent, consultant,
advisor, independent contractor, partner, stockholder, officer, director or
otherwise, any business which is materially competitive with the business of the
Company as conducted or actively planned to be conducted by the Company during
his employment by it, provided that Executive shall not be deemed to engage in a
Competitive Business Activity solely by reason of (i) owning 5% or less of the
outstanding common stock of any corporation if such class of common stock is
registered under Section 12 of the Securities Exchange Act of 1934, or (ii)
after the termination of his employment by the Company, being employed by or
otherwise providing services to a corporation having total revenue of at least
$500 million (or such lower number as may be agreed by the Board) so long as
such services are provided solely to a division or other business unit of such
corporation which does not engage in a business which is then competitive with
the business of the Company.

    

    10.3                        Non-Competition. Without the prior written consent of
the Board of Directors, during the period of employment with the Company,
Executive will not, directly or indirectly, engage in any employment,
occupation, consulting or other business activity in competition with the
Company. Executive acknowledges and agrees that such conduct would violate the
duty of loyalty owed by Executive to the Company. Employee agrees to promptly
disclose to the Board of Directors, in writing, any business opportunities that
are presented to him or her in his or her capacity as an employee of the Company
which are of a similar nature to the Company’s current business or business
which, to Executive’s knowledge, the Company proposes to engage
in.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Executive further acknowledges and
agrees that, during the course of performing services for the Company, the
Company will furnish, disclose or make available to Executive confidential and
proprietary information related to the Company’s business and that such
confidential information has been developed and will be developed by the Company
through the expenditure by the Company of substantial time, effort and money and
that all such confidential information could be used by Executive to harm the
Company or adversely impact its operations. Accordingly, the Executive hereby
agrees, in consideration of the Company’s agreement to hire Executive and to pay
the Employee’s compensation for services rendered to the Company and in view of
the position of trust to be held by Executive and the confidential nature and
proprietary value of the information which the Company may share with Executive,
and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, as follows:

    

    For a period of one (1) year following
the expiration or termination of the Agreement (the “Restricted Term”), whether
such termination is voluntary, involuntary or with or without cause, Executive
shall not, without the prior written consent of the Company, for the Executive
for his own account or on behalf of any other, directly or indirectly, either as
principal, agent, stockholder, employee, consultant, representative or in any
other capacity, solicit, divert or appropriate or attempt to solicit, divert or
appropriate, for the purpose of providing services, any customers or patrons of
the Company, or any prospective customers or patrons with respect to which the
Company has targeted or developed during the Term.

    

    Executive further recognizes and
acknowledges that the specified restrictions in this paragraph are reasonable,
legitimate and fair to Executive in light of the Company’s need to market its
services in a large geographic area in order to have a sufficient customer base
to make the Company’s business profitable.

     

    If any part of this section should be
determined by a court of competent jurisdiction to be unreasonable in duration
or scope, then this section is intended to and shall extend only for such period
of time, in such area and with respect to such activity as is determined to be
reasonable.

    

    11.             Confidentiality
and Invention Assignment.
In connection with this Agreement, Executive agrees to execute and acknowledges
his employment shall be bound by the Company’s
Confidentiality and Invention Assignment Agreement. The terms of such Confidentiality and
Invention Assignment Agreement are incorporated herein by this reference and
Executive acknowledges and agrees that its terms and conditions constitute
materials terms of this Agreement.

     

    12.             Miscellaneous.

     

    12.1                        Section
Headings. The section
headings or captions in this Agreement are for convenience of reference only and
do not form a part hereof, and do not in any way modify, interpret or construe
the intent of the parties or affect any of the provisions of this
Agreement.

     

    12.2                        Survival. The obligations and rights imposed
upon the parties hereto by the provisions of this Agreement which relate to acts
or events subsequent to the termination of this Agreement shall survive the
termination of this Agreement and shall remain fully effective thereafter,
including without limitation the obligations of Executive with to any
Confidentiality or Invention Assignment obligations under Section 11.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    12.3                        Arbitration.

     

    (a)             Any claim, dispute or other controversy
(a “Controversy”) relating to this Agreement shall be
settled and resolved by binding arbitration in Los Angeles County, California
before a single arbitrator under the Employment Rules of the American
Arbitration Association (“
AAA ”) in effect at the
time a demand for arbitration is made. If there is any conflict between the AAA
rules and this arbitration clause, this arbitration clause will govern and
determine the rights of the parties. The Parties to this Agreement (the
“
Parties ”) shall be
entitled to full discovery regarding the Controversy as permitted by the
California Code of Civil Procedure. The arbitrator’s decision on the Controversy
shall be a final and binding determination of the Controversy and shall be fully
enforceable as an arbitration award in any court having jurisdiction and venue
over the Parties. The arbitrator shall also award the prevailing Party any
reasonable attorneys’ fees and reasonable expenses the prevailing Party incurs
in connection with the arbitration, and the non-prevailing Party shall pay the
arbitrator’s fees and expenses. The arbitrator shall determine who is the
prevailing Party. Each Party also agrees to accept service of process for all
arbitration proceedings in accordance with AAA’s rules.

     

    (b)             The obligation to arbitrate shall not be
binding upon either party with respect to requests for temporary restraining
orders, preliminary injunctions or other procedures in a court of competent
jurisdiction to obtain interim relief when deemed necessary by such court to
preserve the status quo or prevent irreparable injury pending resolution by
arbitration of the actual dispute between the Parties.

     

    (c)             The provisions of this Section shall be
construed as independent of any other covenant or provision of this Agreement;
provided that, if a court of competent jurisdiction determines that any such
provisions are unlawful in any way, such court shall modify or interpret such
provisions to the minimum extent necessary to have them comply with the
law.

      

    (d)             This arbitration provision shall be
deemed to be self-executing and shall remain in full force and effect after
expiration or termination of this Agreement. In the event either party fails to
appear at any properly noticed arbitration proceeding, an award may be entered
against such party by default or otherwise notwithstanding said failure to
appear.

     

    12.4                        Severability. Should any one or more of the
provisions of this Agreement be determined to be illegal or unenforceable in any
relevant jurisdiction, then such illegal or unenforceable provision shall be
modified by the proper court, if possible, but only to the extent necessary to
make such provision enforceable, and such modified provision and all other
provisions of this Agreement shall be given effect separately from the provision
or portion thereof determined to be illegal or unenforceable and shall not be
affected thereby; provided  that, any such modification
shall apply only with respect to the operation of this Agreement in the
particular jurisdiction in which such determination of illegality or
unenforceability is made.

     

    12.5                        Waiver. The failure of either party to enforce
any provision of this Agreement shall not be construed as a waiver of any such
provision, nor prevent such party thereafter from enforcing such provision or
any other provision of this Agreement. The rights granted both parties herein
are cumulative and the election of one shall not constitute a waiver of such
party’s right to assert all other legal remedies available under the
circumstances.

     

    12.6                        Parties in
Interest. Nothing in this
Agreement, except as expressly set forth herein, is intended to confer any
rights or remedies under or by reason of this Agreement on any persons other
than the parties to this Agreement and the successors, assigns and affiliates of
the Company, nor is anything in this Agreement intended to relieve or discharge
the obligation or liability of any third person to any party to this Agreement,
nor shall any provision give any third person any right of action over or
against any party to this Agreement.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    12.7                        Assignment. The rights and obligations under this
Agreement shall be binding upon, and inure to the benefit of, the heirs,
executors, successors and assigns of Executive and the Company. Except as
specifically provided in this Section 12, neither the Company nor Executive may
assign this Agreement or delegate their respective responsibilities under this
Agreement without the consent of the other party hereto. Upon the sale, exchange
or other transfer of substantially all of the assets of the Company, the Company
shall assign this Agreement to the transferee of such assets. No assignment of
this Agreement by the Company shall relieve the Company of, and the Company
shall remain obligated to perform, its duties and obligations under this
Agreement, including, without limitation, payment of the Base Compensation set
forth in Section 5, above.

     

    12.8                        Attorneys’
Fees. In the event of any
Controversy, suit, action or arbitration to enforce any of the terms or
provisions of this Agreement, the prevailing party shall be entitled to its
reasonable attorneys’ fees and costs. The foregoing entitlement shall also
include attorneys’ fees and costs of the prevailing party on any appeal of a
judgment and for any action to enforce a judgment.

    

    12.9                        Modification. This Agreement may be modified only by
a contract in writing executed by the parties to this Agreement against whom
enforcement of such modification is sought.

     

    12.10                        Prior
Understandings. This
Agreement contains the entire agreement between the parties to this Agreement
with respect to the subject matter of this Agreement, is intended as a final
expression of such parties’ agreement with respect to such terms as are included
in this Agreement, is intended as a complete and exclusive statement of the
terms of such agreement, and supersedes all negotiations, stipulations,
understandings, agreements, representations and warranties, if any, with respect
to such subject matter, which precede or accompany the execution of this
Agreement.

     

    12.11                        Interpretation. Whenever the context so requires in
this Agreement, all words used in the singular shall be construed to have been
used in the plural (and vice versa), each gender shall be construed to include
any other genders, and the word “person” shall be construed to include a natural
person, a corporation, a firm, a partnership, a joint venture, a trust, an
estate or any other entity.

     

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

     

    12.13                        Applicable
Law. This Agreement and the
rights and obligations of the parties hereunder shall be construed under, and
governed by, the laws of the State of California without giving effect to
conflict of laws provisions.

     

    12.14                        Drafting
Ambiguities. Each party to
this Agreement has reviewed and revised this Agreement. Each party to this
Agreement has had the opportunity to have such party’s legal counsel review and
revise this Agreement. The rule of construction that any ambiguities are to be
resolved against the drafting party shall not be employed in the interpretation
of this Agreement or of any amendments or exhibits to this
Agreement.

     

    [Signature Page
Follows]

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN WITNESS WHEREOF, the Parties have
executed this Agreement as of the dates indicated below.

     

    
      
        
          
            
              
                
                  
                    	 	

                            THE COMPANY: 

                          	 
	 	 	 
	 	

                            INNOVATIVE CARD TECHNOLOGIES,
      INC. 

                          	 
	 	

                            a Delaware
      corporation 

                          	 
	 	
                          	 
	 	 	 	 
	
                            

                              Dated:

                            

                          	
                            By:
      

                          	/s/ 	 
	 	Name:  	 	 
	 	

                            Title:   

                          	Director	 
	 	 	 	 

                  

                

              

            

          

        

      

    

    
       

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              	 	

                                                      

                                                        EXECUTIVE:

                                                      

                                                    	 
	 	 	 
	 	 	 	 
	
                                                      

                                                        Dated:

                                                      

                                                    	
                                                      By:
      

                                                    	/s/ 	 
	 	Name:  	
                                                      Richard
    Nathan

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