Document:

EXHIBIT
      C

     

    NEITHER
      THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS EXERCISABLE HAVE
      BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES
      COMMISSION OF ANY STATE 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 AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS
      EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE
      SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THIS SECURITY
      AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN
      CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH
      SECURITIES.

    

    COMMON
      STOCK PURCHASE WARRANT

    

    SOLOMON
      TECHNOLOGIES, INC.

     

    
      	
              Warrant
                Shares: ______

            	
              Initial
                Issuance Date: August __, 2007

            

    

     

     

    THIS
      COMMON STOCK PURCHASE WARRANT (the “Warrant”)
      certifies that, for value received, ___________ (the “Holder”)
      is
      entitled, upon the terms and subject to the limitations on exercise and the
      conditions hereinafter set forth, at any time on or after the date hereof (the
      “Initial
      Exercise Date”)
      and on
      or prior to the close of business on __________________1 
      (the
“Termination
      Date”)
      but
      not thereafter, to subscribe for and purchase from Solomon Technologies, Inc.,
      a
      Delaware corporation (the “Company”),
      up to
      ______ shares (the “Warrant
      Shares”)
      of
      common stock, par value $0.001 per share (the “Common
      Stock”),
      of
      the Company. The purchase price of one share of Common Stock under this Warrant
      shall be equal to the Exercise Price, as defined in Section 2(b). 

     

    Section
      1. Definitions.
      Capitalized terms used and not otherwise defined herein shall have the meanings
      set forth in that certain Securities Purchase Agreement (the “Purchase
      Agreement”),
      dated
      August __, 2007, among the Company and the purchasers signatory
      thereto.

     

    Section
      2. Exercise.

     

    a) Exercise
      of Warrant.
      Exercise of the purchase rights represented by this Warrant may be made, in
      whole or in part, at any time or times on or after the Initial

     

     

     

    
      
        

      

      
        	1	
                As
                  to warrants issued pursuant to Section 2.2(a)(iv) of the Purchase
                  Agreement, 5 years from the original issue date and as to warrant
                  issued
                  pursuant to Section 2.2(a)(v) of the Purchase Agreement, 1 year
                  from the
                  effective date of the registration statement registering for resale
                  all
                  the Warrant Shares.

              

      

    

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    Exercise
      Date and on or before the Termination Date by delivery to the Company of a
      duly
      executed facsimile copy of the Notice of Exercise Form annexed hereto (or such
      other office or agency of the Company as it may designate by notice in writing
      to the registered Holder at the address of such Holder appearing on the books
      of
      the Company); and, within 3 Trading Days of the date said Notice of Exercise
      is
      delivered to the Company, the Company shall have received payment of the
      aggregate Exercise Price of the shares thereby purchased by wire transfer or
      cashier’s check drawn on a United States bank. Notwithstanding anything herein
      to the contrary, the Holder shall not be required to physically surrender this
      Warrant to the Company until the Holder has purchased all of the Warrant Shares
      available hereunder and the Warrant has been exercised in full, in which case,
      the Holder shall surrender this Warrant to the Company for cancellation within
      3
      Trading Days of the date the final Notice of Exercise is delivered to the
      Company. Partial exercises of this Warrant resulting in purchases of a portion
      of the total number of Warrant Shares available hereunder shall have the effect
      of lowering the outstanding number of Warrant Shares purchasable hereunder
      in an
      amount equal to the applicable number of Warrant Shares purchased. The Holder
      and the Company shall maintain records showing the number of Warrant Shares
      purchased and the date of such purchases. The Company shall deliver any
      objection to any Notice of Exercise Form within 1 Business Day of receipt of
      such notice. In the event of any dispute or discrepancy, the records of the
      Company shall be controlling and determinative in the absence of manifest error;
      provided,
      however,
      in the
      event of a dispute the Company shall deliver Warrant Shares to the extent that
      no dispute exists and in the event that the Company is later proved to be in
      error the Holder shall have the right to seek all remedies hereunder retroactive
      to the applicable Warrant Share Delivery Date. The Holder and any assignee,
      by
      acceptance of this Warrant, acknowledge and agree that, by reason of the
      provisions of this paragraph, following the purchase of a portion of the Warrant
      Shares hereunder, the number of Warrant Shares available for purchase hereunder
      at any given time may be less than the amount stated on the face
      hereof.

     

    b) Exercise
      Price.
      The
      exercise price per share of the Common Stock under this Warrant shall be
$0.35
      subject
      to adjustment hereunder (the “Exercise
      Price”).

     

    c) Cashless
      Exercise.
      If at
      any time after the earlier of one year from the date of issuance of this Warrant
      and the date that the Warrant Shares, upon a cashless exercise may be resold
      pursuant to Rule 144 there is no effective Registration Statement registering,
      or no current prospectus available for, the resale of the Warrant Shares by
      the
      Holder, then this Warrant may also be exercised at such time by means of a
      “cashless exercise” in which the Holder shall be entitled to receive a
      certificate for the number of Warrant Shares equal to the quotient obtained
      by
      dividing [(A-B) (X)] by (A), where:

     

    (A)
      = the
      VWAP on the Trading Day immediately preceding the date of such
      election;

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    (B)
      = the
      Exercise Price of this Warrant, as adjusted; and 

    

    (X)
      = the
      number of Warrant Shares issuable upon exercise of this Warrant in accordance
      with the terms of this Warrant by means of a cash exercise rather than a
      cashless exercise.

     

    d) Holder’s
      Restrictions.
      The
      Company shall not effect any exercise of this Warrant, and a Holder shall not
      have the right to exercise any portion of this Warrant, pursuant to Section
      2(c)
      or otherwise, to the extent that after giving effect to such issuance after
      exercise as set forth on the applicable Notice of Exercise, such Holder
      (together with such Holder’s Affiliates, and any other person or entity acting
      as a group together with such Holder or any of such Holder’s Affiliates), as set
      forth on the applicable Notice of Exercise, would beneficially own in excess
      of
      the Beneficial Ownership Limitation (as defined below).  For purposes of
      the foregoing sentence, the number of shares of Common Stock beneficially owned
      by such Holder and its Affiliates shall include the number of shares of Common
      Stock issuable upon exercise of this Warrant with respect to which such
      determination is being made, but shall exclude the number of shares of Common
      Stock which would be issuable upon (A) exercise of the remaining, nonexercised
      portion of this Warrant beneficially owned by such Holder or any of its
      Affiliates and (B) exercise or conversion of the unexercised or nonconverted
      portion of any other securities of the Company (including, without limitation,
      any other Debentures or Warrants) subject to a limitation on conversion or
      exercise analogous to the limitation contained herein beneficially owned by
      such
      Holder or any of its affiliates.  Except as set forth in the preceding
      sentence, for purposes of this Section 2(d), beneficial ownership shall be
      calculated in accordance with Section 13(d) of the Exchange Act and the rules
      and regulations promulgated thereunder, it being acknowledged by a Holder that
      the Company is not representing to such Holder that such calculation is in
      compliance with Section 13(d) of the Exchange Act and such Holder is solely
      responsible for any schedules required to be filed in accordance therewith.
      To
      the extent that the limitation contained in this Section 2(d) applies, the
      determination of whether this Warrant is exercisable (in relation to other
      securities owned by such Holder together with any Affiliates) and of which
      a
      portion of this Warrant is exercisable shall be in the sole discretion of a
      Holder, and the submission of a Notice of Exercise shall be deemed to be each
      Holder’s determination of whether this Warrant is exercisable (in relation to
      other securities owned by such Holder together with any Affiliates) and of
      which
      portion of this Warrant is exercisable, in each case subject to such aggregate
      percentage limitation. To ensure compliance with this restriction, each Holder
      will be deemed to represent to the Company each time it delivers a Notice of
      Exercise that to the Holder’s knowledge such notice of Exercise has not violated
      the restrictions set forth in this paragraph and the Company shall have no
      obligation to verify or confirm the accuracy of such determination. In addition,
      a determination as to any group status as contemplated above shall be determined
      in accordance with Section 13(d) of the Exchange Act and the rules and
      regulations promulgated thereunder. For purposes of this Section 2(d), in
      determining the number of outstanding shares of Common Stock, a Holder may
      rely
      on the number of outstanding shares of Common Stock as reflected in (x) the
      Company’s

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    most
      recent Form 10-QSB or Form 10-KSB, as the case may be, (y) a more recent public
      announcement by the Company or (z) any other notice by the Company or the
      Company’s Transfer Agent setting forth the number of shares of Common Stock
      outstanding.  Upon the written or oral request of a Holder, the Company
      shall within two Trading Days confirm orally and in writing to such Holder
      the
      number of shares of Common Stock then outstanding.  In any case, the number
      of outstanding shares of Common Stock shall be determined after giving effect
      to
      the conversion or exercise of securities of the Company, including this Warrant,
      by such Holder or its Affiliates since the date as of which such number of
      outstanding shares of Common Stock was reported. The “Beneficial
      Ownership Limitation”
shall
      be 4.99% of the number of shares of the Common Stock outstanding immediately
      after giving effect to the issuance of shares of Common Stock issuable upon
      exercise of this Warrant. The Beneficial Ownership Limitation provisions of
      this
      Section 2(d) may be waived by such Holder, at the election of such Holder,
      upon
      not less than 61 days’ prior notice to the Company to change the Beneficial
      Ownership Limitation to 9.99% of the number of shares of the Common Stock
      outstanding immediately after giving effect to the issuance of shares of Common
      Stock upon exercise of this Warrant, and the provisions of this Section 2(d)
      shall continue to apply. Upon such a change by a Holder of the Beneficial
      Ownership Limitation from such 4.99% limitation to such 9.99% limitation, the
      Beneficial Ownership Limitation may not be further waived by such Holder. The
      provisions of this paragraph shall be construed and implemented in a manner
      otherwise than in strict conformity with the terms of this Section 2(d) to
      correct this paragraph (or any portion hereof) which may be defective or
      inconsistent with the intended Beneficial Ownership Limitation herein contained
      or to make changes or supplements necessary or desirable to properly give effect
      to such limitation. The limitations contained in this paragraph shall apply
      to a
      successor holder of this Warrant.

     

    e) Mechanics
      of Exercise.
      

     

    i. Authorization
      of Warrant Shares.
      The
      Company covenants that all Warrant Shares which may be issued upon the exercise
      of the purchase rights represented by this Warrant will, upon exercise of the
      purchase rights represented by this Warrant, be duly authorized, validly issued,
      fully paid and nonassessable and free from all taxes, liens and charges created
      by the Company in respect of the issue thereof (other than taxes in respect
      of
      any transfer occurring contemporaneously with such issue). 

     

    ii. Delivery
      of Certificates Upon Exercise.
      Certificates for shares purchased hereunder shall be transmitted by the transfer
      agent of the Company to the Holder by crediting the account of the Holder’s
      prime broker with the Depository Trust Company through its Deposit Withdrawal
      Agent Commission (“DWAC”)
      system
      if the Company is a participant in such system, and otherwise by physical
      delivery to the address specified by the Holder in the Notice of Exercise within
      3 Trading Days from the delivery to the Company of the Notice of Exercise Form,
      surrender of this Warrant (if required) and payment of the
      aggregate

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    Exercise
      Price as set forth above (“Warrant
      Share Delivery Date”).
      This
      Warrant shall be deemed to have been exercised on the date the Exercise Price
      is
      received by the Company. The Warrant Shares shall be deemed to have been issued,
      and Holder or any other person so designated to be named therein shall be deemed
      to have become a holder of record of such shares for all purposes, as of the
      date the Warrant has been exercised by payment to the Company of the Exercise
      Price (or by cashless exercise, if permitted) and all taxes required to be
      paid
      by the Holder, if any, pursuant to Section 2(e)(vii) prior to the issuance
      of
      such shares, have been paid. 

     

    iii. Delivery
      of New Warrants Upon Exercise.
      If this
      Warrant shall have been exercised in part, the Company shall, at the request
      of
      a Holder and upon surrender of this Warrant certificate, at the time of delivery
      of the certificate or certificates representing Warrant Shares, deliver to
      Holder a new Warrant evidencing the rights of Holder to purchase the unpurchased
      Warrant Shares called for by this Warrant, which new Warrant shall in all other
      respects be identical with this Warrant.

     

    iv. Rescission
      Rights.
      If the
      Company fails to cause its transfer agent to transmit to the Holder a
      certificate or certificates representing the Warrant Shares pursuant to this
      Section 2(e)(iv) by the Warrant Share Delivery Date, then the Holder will have
      the right to rescind such exercise.

     

    v. Compensation
      for Buy-In on Failure to Timely Deliver Certificates Upon
      Exercise.
      In
      addition to any other rights available to the Holder, if the Company fails
      to
      cause its transfer agent to transmit to the Holder a certificate or certificates
      representing the Warrant Shares pursuant to an exercise on or before the Warrant
      Share Delivery Date, and if after such date the Holder is required by its broker
      to purchase (in an open market transaction or otherwise) or the Holder’s
      brokerage firm otherwise purchases, shares of Common Stock to deliver in
      satisfaction of a sale by the Holder of the Warrant Shares which the Holder
      anticipated receiving upon such exercise (a “Buy-In”),
      then
      the Company shall (1) pay in cash to the Holder the amount by which (x) the
      Holder’s total purchase price (including brokerage commissions, if any) for the
      shares of Common Stock so purchased exceeds (y) the amount obtained by
      multiplying (A) the number of Warrant Shares that the Company was required
      to
      deliver to the Holder in connection with the exercise at issue times (B) the
      price at which the sell order giving rise to such purchase obligation was
      executed, and (2) at the option of the Holder, either reinstate the portion
      of
      the Warrant and equivalent number of Warrant Shares for which such exercise
      was
      not honored or deliver to the Holder the number of shares of Common Stock that
      would have been issued had the Company timely complied with its exercise and
      delivery obligations hereunder. For example, if the Holder purchases Common
      Stock having a total purchase price of $11,000

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    to
      cover
      a Buy-In with respect to an attempted exercise of shares of Common Stock with
      an
      aggregate sale price giving rise to such purchase obligation of $10,000, under
      clause (1) of the immediately preceding sentence the Company shall be required
      to pay the Holder $1,000. The Holder shall provide the Company written notice
      indicating the amounts payable to the Holder in respect of the Buy-In and,
      upon
      request of the Company, evidence of the amount of such loss. Nothing herein
      shall limit a Holder’s right to pursue any other remedies available to it
      hereunder, at law or in equity including, without limitation, a decree of
      specific performance and/or injunctive relief with respect to the Company’s
      failure to timely deliver certificates representing shares of Common Stock
      upon
      exercise of the Warrant as required pursuant to the terms hereof.

     

    vi. No
      Fractional Shares or Scrip.
      No
      fractional shares or scrip representing fractional shares shall be issued upon
      the exercise of this Warrant. As to any fraction of a share which Holder would
      otherwise be entitled to purchase upon such exercise, the Company shall at
      its
      election, either pay a cash adjustment in respect of such final fraction in
      an
      amount equal to such fraction multiplied by the Exercise Price or round the
      fraction to the next whole share.

     

    vii. Charges,
      Taxes and Expenses.
      Issuance of certificates for Warrant Shares shall be made without charge to
      the
      Holder for any issue or transfer tax or other incidental expense in respect
      of
      the issuance of such certificate, all of which taxes and expenses shall be
      paid
      by the Company, and such certificates shall be issued in the name of the Holder
      or in such name or names as may be directed by the Holder; provided,
      however,
      that in
      the event certificates for Warrant Shares are to be issued in a name other
      than
      the name of the Holder, this Warrant when surrendered for exercise shall be
      accompanied by the Assignment Form attached hereto duly executed by the Holder;
      and the Company may require, as a condition thereto, the payment of a sum
      sufficient to reimburse it for any transfer tax incidental thereto.

     

    viii. Closing
      of Books.
      The
      Company will not close its stockholder books or records in any manner which
      prevents the timely exercise of this Warrant, pursuant to the terms
      hereof.

     

    Section
      3. Certain Adjustments.

     

    a) Stock
      Dividends and Splits.
      If the
      Company, at any time while this Warrant is outstanding: (A) pays a stock
      dividend or otherwise make a distribution or distributions on shares of its
      Common Stock or any other equity or equity equivalent securities payable in
      shares of Common Stock (which, for avoidance of doubt, shall not include any
      shares of Common Stock issued by the Company upon exercise of this Warrant),
      (B)
      subdivides outstanding shares of Common Stock into a larger number of shares,
      (C) combines (including by way of reverse stock split) outstanding shares
      of

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    Common
      Stock into a smaller number of shares, or (D) issues by reclassification of
      shares of the Common Stock any shares of capital stock of the Company, then
      in
      each case the Exercise Price shall be multiplied by a fraction of which the
      numerator shall be the number of shares of Common Stock (excluding treasury
      shares, if any) outstanding immediately before such event and of which the
      denominator shall be the number of shares of Common Stock outstanding
      immediately after such event and the number of shares issuable upon exercise
      of
      this Warrant shall be proportionately adjusted. Any adjustment made pursuant
      to
      this Section 3(a) shall become effective immediately after the record date
      for
      the determination of stockholders entitled to receive such dividend or
      distribution and shall become effective immediately after the effective date
      in
      the case of a subdivision, combination or re-classification.

     

    b) Subsequent
      Equity Sales.
      If the
      Company or any Subsidiary thereof, as applicable, at any time while this Warrant
      is outstanding, shall sell or grant any option to purchase, or sell or grant
      any
      right to reprice its securities, or otherwise dispose of or issue (or announce
      any offer, sale, grant or any option to purchase or other disposition) any
      Common Stock or Common Stock Equivalents entitling any Person to acquire shares
      of Common Stock, at an effective price per share less than the then Exercise
      Price (such lower price, the “Base
      Share Price”
and
      such issuances collectively, a “Dilutive
      Issuance”)
      (if
      the holder of the Common Stock or Common Stock Equivalents so issued shall
      at
      any time, whether by operation of purchase price adjustments, reset provisions,
      floating conversion, exercise or exchange prices or otherwise, or due to
      warrants, options or rights per share which are issued in connection with such
      issuance, be entitled to receive shares of Common Stock at an effective price
      per share which is less than the Exercise Price, such issuance shall be deemed
      to have occurred for less than the Exercise Price on such date of the Dilutive
      Issuance), then the Exercise Price shall be reduced and only reduced to equal
      the Base Share Price and the number of Warrant Shares issuable hereunder shall
      be increased such that the aggregate Exercise Price payable hereunder, after
      taking into account the decrease in the Exercise Price, shall be equal to the
      aggregate Exercise Price prior to such adjustment. Such adjustment shall be
      made
      whenever such Common Stock or Common Stock Equivalents are issued.
      Notwithstanding the foregoing, no adjustments shall be made, paid or issued
      under this Section 3(b) in respect of an Exempt Issuance. Notwithstanding
      anything herein or in any other Transaction Document to the contrary, it is
      expressly agreed that any amendments, adjustments or resets that result in
      future issuances of Common Stock or Common Stock Equivalents pursuant to that
      certain Securities Purchase Agreement, dated August 17, 2006, by and among
      the
      Company, Integrated Power Systems LLC, Power Designs Inc., The Vantage Partners
      LLC, Technipower LLC and the other parties listed on the signature pages
      thereto, or pursuant to any other agreements or documents entered into or issued
      in connection therewith, shall not be an Exempt Issuance and any such future
      issuances shall be subject to this Section 3(b), and shall result in an
      adjustment hereunder if such issuances are made at an effective price per share
      less than the then Exercise Price. The Company shall notify the Holder in
      writing, no later than 2 Trading Days following the issuance of any Common
      Stock
      or Common Stock Equivalents subject to this Section 3(b), indicating therein
      the
      applicable issuance price, or applicable reset price, exchange price, conversion
      price and other pricing terms (such notice the “Dilutive
      Issuance Notice”).
      For
      purposes of clarification, whether or not the

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    Company
      provides a Dilutive Issuance Notice pursuant to this Section 3(b), upon the
      occurrence of any Dilutive Issuance, after the date of such Dilutive Issuance
      the Holder is entitled to receive a number of Warrant Shares based upon the
      Base
      Share Price regardless of whether the Holder accurately refers to the Base
      Share
      Price in the Notice of Exercise. For purposes of any adjustment in the Exercise
      Price made pursuant to this Section 3(b), the following shall apply: (i) in
      the
      case of the issuance of Common Stock for cash, the consideration shall be deemed
      to be the amount of cash paid; (ii) in the case of the issuance of Common Stock
      for a consideration in whole or in part other than cash, the consideration
      other
      than cash shall be deemed to be the fair value thereof as determined in good
      faith by the Board; (iii) the number of shares of Common Stock deliverable
      upon
      exercise of Common Stock Equivalents shall be deemed to have been issued at
      the
      time such Common Stock Equivalents were issued and for a consideration equal
      to
      the consideration (determined in the manner provided in (i) and (ii) above),
      if
      any, received by the Company upon the issuance of such Common Stock Equivalents
      plus the purchase price, if any, provided in such Common Stock Equivalents
      for
      the additional Common Stock covered thereby; (iv) the number of shares of Common
      Stock deliverable upon conversion of or in exchange for any Common Stock
      Equivalents and subsequent conversion or exchange thereof shall be deemed to
      have been issued at the time such Common Stock Equivalents were issued and
      for a
      consideration equal to the consideration, if any, received by the Company for
      any such Common Stock Equivalents, plus the additional consideration, if any,
      to
      be received by the Company upon the conversion or exchange of such securities
      or
      the exercise of any related Common Stock Equivalents (the consideration in
      each
      case to be determined in the manner provided in (i) and (ii) above); (v) in
      the
      event of any change in the number of shares of Common Stock deliverable or
      any
      increase or decrease in the consideration payable to the Company upon exercise
      of Common Stock Equivalents or upon conversion of or in exchange for such Common
      Stock Equivalents (including, but not limited to, a change resulting from the
      anti-dilution provisions thereof), the Exercise Price in effect at the time
      obtained with respect to the adjustment which was made upon the issuance of
      such
      Common Stock Equivalents, and any subsequent adjustments based thereon, shall
      be
      recomputed to reflect such change (assuming no exercise or conversion occurred
      of such Common Stock Equivalent), but no further adjustment shall be made for
      the actual issuance of Common Stock or any payment of such consideration upon
      the exercise of or the conversion or exchange of such Common Stock Equivalents,
      provided that the Company shall have provided the Holder at least 5 days’ prior
      written notice of any such adjustment during which the Holder may convert at
      the
      prevailing exercise rate; and (vi) upon the expiration or termination of any
      such Common Stock Equivalents, assuming no exercise or conversion thereof,
      in
      whole or in part, the Exercise Price in effect at the time obtained with respect
      to the adjustment which was made upon the issuance of such Common Stock
      Equivalents shall be adjusted to the price that would have been in effect had
      the adjustment not occurred, subject to other adjustments in the interim,
      provided that the Company shall have provided the Holder at least 5 days’ prior
      written notice of any such adjustment during which the Holder may convert at
      the
      prevailing conversion rate.

     

    c) [Intentionally
      Deleted]. 

     

    d) [Intentionally
      Deleted].

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    e) Fundamental
      Transaction.
      If, at
      any time while this Warrant is outstanding, (A) the Company effects any merger
      or consolidation of the Company with or into another Person, (B) the Company
      effects any sale of all or substantially all of its assets in one or a series
      of
      related transactions, (C) any tender offer or exchange offer (whether by the
      Company or another Person) is completed pursuant to which holders of Common
      Stock are permitted to tender or exchange their shares for other securities,
      cash or property, or (D) the Company effects any reclassification of the Common
      Stock or any compulsory share exchange pursuant to which the Common Stock is
      effectively converted into or exchanged for other securities, cash or property
      (each “Fundamental
      Transaction”),
      then,
      upon any subsequent exercise of this Warrant, the Holder shall have the right
      to
      receive, for each Warrant Share that would have been issuable upon such exercise
      immediately prior to the occurrence of such Fundamental Transaction, the number
      of shares of Common Stock of the successor or acquiring corporation or of the
      Company, if it is the surviving corporation, and any additional consideration
      (the “Alternate
      Consideration”)
      receivable as a result of such merger, consolidation or disposition of assets
      by
      a Holder of the number of shares of Common Stock for which this Warrant is
      exercisable immediately prior to such event. For purposes of any such exercise,
      the determination of the Exercise Price shall be appropriately adjusted to
      apply
      to such Alternate Consideration based on the amount of Alternate Consideration
      issuable in respect of one share of Common Stock in such Fundamental
      Transaction, and the Company shall apportion the Exercise Price among the
      Alternate Consideration in a reasonable manner reflecting the relative value
      of
      any different components of the Alternate Consideration. If holders of Common
      Stock are given any choice as to the securities, cash or property to be received
      in a Fundamental Transaction, then the Holder shall be given the same choice
      as
      to the Alternate Consideration it receives upon any exercise of this Warrant
      following such Fundamental Transaction. To the extent necessary to effectuate
      the foregoing provisions, any successor to the Company or surviving entity
      in
      such Fundamental Transaction shall issue to the Holder a new warrant consistent
      with the foregoing provisions and evidencing the Holder’s right to exercise such
      warrant into Alternate Consideration. The terms of any agreement pursuant to
      which a Fundamental Transaction is effected shall include terms requiring any
      such successor or surviving entity to comply with the provisions of this Section
      3(e) and insuring that this Warrant (or any such replacement security) will
      be
      similarly adjusted upon any subsequent transaction analogous to a Fundamental
      Transaction. Notwithstanding anything to the contrary, in the event of a
      Fundamental Transaction that is (1) an all cash transaction, (2) a “Rule 13e-3
      transaction” as defined in Rule 13e-3 under the Securities Exchange Act of 1934,
      as amended, or (3) a Fundamental Transaction involving a person or entity not
      traded on a national securities exchange, the Nasdaq Global Select Market,
      the
      Nasdaq Global Market, the Nasdaq Capital Market, the Company or any successor
      entity shall pay at the Holder’s option, exercisable at any time concurrently
      with or within 30 days after the consummation of the Fundamental Transaction,
      an
      amount of cash equal to the value of this Warrant as determined in accordance
      with the Black-Scholes option pricing formula using an expected volatility
      equal
      to the 100 day historical price volatility obtained from the HVT function on
      Bloomberg L.P. as of the trading day immediately prior to the public
      announcement of the Fundamental Transaction. 

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    f) Calculations.
      All
      calculations under this Section 3 shall be made to the nearest cent or the
      nearest 1/100th of a share, as the case may be. For purposes of this Section
      3,
      the number of shares of Common Stock deemed to be issued and outstanding as
      of a
      given date shall be the sum of the number of shares of Common Stock (excluding
      treasury shares, if any) issued and outstanding.

     

    g) Voluntary
      Adjustment By Company.
      The
      Company may at any time during the term of this Warrant reduce the then current
      Exercise Price to any amount and for any period of time deemed appropriate
      by
      the Board of Directors of the Company.

     

    h) Notice
      to Holder.
      

     

    i. Adjustment
      to Exercise Price.
      Whenever the Exercise Price is adjusted pursuant to any provision of this
      Section 3, the Company shall promptly mail to the Holder a notice setting forth
      the Exercise Price after such adjustment and setting forth a brief statement
      of
      the facts requiring such adjustment and basic terms of the dilutive security.
      If
      the Company enters into a Variable Rate Transaction (as defined in the Purchase
      Agreement) despite the prohibition thereon in the Purchase Agreement, the
      Company shall be deemed to have issued Common Stock or Common Stock Equivalents
      at the lowest possible conversion or exercise price at which such securities
      may
      be converted or exercised.

     

    ii. Notice
      to Allow Exercise by Holder.
      If (A)
      the Company shall declare a dividend (or any other distribution in whatever
      form) on the Common Stock; (B) the Company shall declare a special nonrecurring
      cash dividend on or a redemption of the Common Stock; (C) the Company shall
      authorize the granting to all holders of the Common Stock rights or warrants
      to
      subscribe for or purchase any shares of capital stock of any class or of any
      rights; (D) the approval of any stockholders of the Company shall be required
      in
      connection with any reclassification of the Common Stock, any consolidation
      or
      merger to which the Company is a party, any sale or transfer of all or
      substantially all of the assets of the Company, of any compulsory share exchange
      whereby the Common Stock is converted into other securities, cash or property;
      (E) the Company shall authorize the voluntary or involuntary dissolution,
      liquidation or winding up of the affairs of the Company; then, in each case,
      the
      Company shall cause to be mailed to the Holder at its last address as it shall
      appear upon the Warrant Register of the Company, at least 10 calendar days
      prior
      to the applicable record or effective date hereinafter specified, a notice
      stating (x) the date on which a record is to be taken for the purpose of such
      dividend, distribution, redemption, rights or warrants, or if a record is not
      to
      be taken, the date as of which the holders of the Common Stock of record to
      be
      entitled to such dividend, distributions, redemption, rights or warrants are
      to
      be determined or (y) the date on which such reclassification, consolidation,
      merger, sale, transfer or share exchange is expected to become effective or
      close, and the date as of which it is

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    expected
      that holders of the Common Stock of record shall be entitled to exchange their
      shares of the Common Stock for securities, cash or other property deliverable
      upon such reclassification, consolidation, merger, sale, transfer or share
      exchange; provided 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. The Holder is entitled to exercise
      this
      Warrant during the 10-day period commencing on the date of such notice to the
      effective date of the event triggering such notice.

     

    Section
      4. Transfer
      of Warrant.

     

    a) Transferability.
      Subject
      to compliance with any applicable securities laws and the conditions set forth
      in Section 4(d) hereof and to the provisions of Section 4.1 of the Purchase
      Agreement, this Warrant and all rights hereunder (including, without limitation,
      any registration rights) are transferable, in whole or in part, upon surrender
      of this Warrant at the principal office of the Company or its designated agent,
      together with a written assignment of this Warrant substantially in the form
      attached hereto duly executed by the Holder or its agent or attorney and funds
      sufficient to pay any transfer taxes payable upon the making of such transfer.
      Upon such surrender and, if required, such payment, the Company shall execute
      and deliver a new Warrant or Warrants in the name of the assignee or assignees
      and in the denomination or denominations specified in such instrument of
      assignment, and shall issue to the assignor a new Warrant evidencing the portion
      of this Warrant not so assigned, and this Warrant shall promptly be cancelled.
      A
      Warrant, if properly assigned, may be exercised by a new holder for the purchase
      of Warrant Shares without having a new Warrant issued. 

     

    b) New
      Warrants.
      This
      Warrant may be divided or combined with other Warrants upon presentation hereof
      at the aforesaid office of the Company, together with a written notice
      specifying the names and denominations in which new Warrants are to be issued,
      signed by the Holder or its agent or attorney. Subject to compliance with
      Section 4(a), as to any transfer which may be involved in such division or
      combination, the Company shall execute and deliver a new Warrant or Warrants
      in
      exchange for the Warrant or Warrants to be divided or combined in accordance
      with such notice.

     

    c) Warrant
      Register.
      The
      Company shall register this Warrant, upon records to be maintained by the
      Company for that purpose (the “Warrant
      Register”),
      in
      the name of the record Holder hereof from time to time. The Company may deem
      and
      treat the registered Holder of this Warrant as the absolute owner hereof for
      the
      purpose of any exercise hereof or any distribution to the Holder, and for all
      other purposes, absent actual notice to the contrary.

     

    d) Transfer
      Restrictions.
      If,
      at the
time
      of
      the surrender of this Warrant in connection with any transfer of this Warrant,
      the transfer of this Warrant shall not be registered pursuant to an effective
      registration
      statement under the Securities Act
      and
under
      applicable state securities or blue sky laws, the Company may require, as a
      condition of allowing such transfer, that (i) the Holder or transferee of this
      Warrant, as

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    the
      case
      may be, furnish to the Company a written opinion of counsel (which opinion
      shall
      be in form, substance and scope customary for opinions of counsel in comparable
      transactions) to the effect that such transfer may be made without
      registration under
      the
      Securities Act and under applicable state securities or blue sky laws, and
      (ii)
      the Holder or transferee execute and deliver to the Company an investment letter
      in form and substance acceptable to the Company, and (iii) the transferee be
      an
“accredited
      investor” as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7), or (a)(8)
      promulgated under the Securities Act or a “qualified institutional buyer” as
      defined in Rule 144A(a) promulgated under the Securities Act.

     

    Section
      5. Miscellaneous.

     

    a) No
      Rights as Shareholder Until Exercise.
      This
      Warrant does not entitle the Holder to any voting rights or other rights as
      a
      shareholder of the Company prior to the exercise hereof as set forth in Section
      2(e)(ii). 

     

    b) Loss,
      Theft, Destruction or Mutilation of Warrant.
      The
      Company covenants that upon receipt by the Company of evidence reasonably
      satisfactory to it of the loss, theft, destruction or mutilation of this Warrant
      or any stock certificate relating to the Warrant Shares, and in case of loss,
      theft or destruction, of indemnity or security reasonably satisfactory to it
      (which, in the case of the Warrant, shall not include the posting of any bond),
      and upon surrender and cancellation of such Warrant or stock certificate, if
      mutilated, the Company will make and deliver a new Warrant or stock certificate
      of like tenor and dated as of such cancellation, in lieu of such Warrant or
      stock certificate.

     

    c) Saturdays,
      Sundays, Holidays, etc.
      If the
      last or appointed day for the taking of any action or the expiration of any
      right required or granted herein shall not be a Business Day, then such action
      may be taken or such right may be exercised on the next succeeding Business
      Day.

     

    d) Authorized
      Shares.
      

     

    The
      Company covenants that during the period the Warrant is outstanding, it will
      reserve from its authorized and unissued Common Stock a sufficient number of
      shares to provide for the issuance of the Warrant Shares upon the exercise
      of
      any purchase rights under this Warrant. The Company further covenants that
      its
      issuance of this Warrant shall constitute full authority to its officers who
      are
      charged with the duty of executing stock certificates to execute and issue
      the
      necessary certificates for the Warrant Shares upon the exercise of the purchase
      rights under this Warrant. The Company will take all such reasonable action
      as
      may be necessary to assure that such Warrant Shares may be issued as provided
      herein without violation of any applicable law or regulation, or of any
      requirements of the Trading Market upon which the Common Stock may be listed.
      

     

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    Except
      and to the extent as waived or consented to by the Holder, the Company shall
      not
      by any action, including, without limitation, amending its certificate of
      incorporation 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 of
      this
      Warrant, but will at all times in good faith assist in the carrying out of
      all
      such terms and in the taking of all such actions as may be necessary or
      appropriate to protect the rights of Holder as set forth in this Warrant against
      impairment. Without limiting the generality of the foregoing, the Company will
      (a) not increase the par value of any Warrant Shares above the amount payable
      therefor upon such exercise immediately prior to such increase in par value,
      (b)
      take all such action as may be necessary or appropriate in order that the
      Company may validly and legally issue fully paid and nonassessable Warrant
      Shares upon the exercise of this Warrant, and (c) use commercially reasonable
      efforts to obtain all such authorizations, exemptions or consents from any
      public regulatory body having jurisdiction thereof as may be necessary to enable
      the Company to perform its obligations under this Warrant.

     

    Before
      taking any action which would result in an adjustment in the number of Warrant
      Shares for which this Warrant is exercisable or in the Exercise Price, the
      Company shall obtain all such authorizations or exemptions thereof, or consents
      thereto, as may be necessary from any public regulatory body or bodies having
      jurisdiction thereof.

     

    e) Jurisdiction.
      All
      questions concerning the construction, validity, enforcement and interpretation
      of this Warrant shall be determined in accordance with the provisions of the
      Purchase Agreement.

     

    f) Restrictions.
      The
      Holder acknowledges that the Warrant Shares acquired upon the exercise of this
      Warrant, if not registered, will have restrictions upon resale imposed by state
      and federal securities laws.

     

    g) Nonwaiver
      and Expenses.
      No
      course of dealing or any delay or failure to exercise any right hereunder on
      the
      part of Holder shall operate as a waiver of such right or otherwise prejudice
      Holder’s rights, powers or remedies, notwithstanding the fact that all rights
      hereunder terminate on the Termination Date. If the Company willfully and
      knowingly fails to comply with any provision of this Warrant, which results
      in
      any material damages to the Holder, the Company shall pay to Holder such amounts
      as shall be sufficient to cover any costs and expenses including, but not
      limited to, reasonable attorneys’ fees, including those of appellate
      proceedings, incurred by Holder in collecting any amounts due pursuant hereto
      or
      in otherwise enforcing any of its rights, powers or remedies
      hereunder.

     

    h) Notices.
      Any
      notice, request or other document required or permitted to be given or delivered
      to the Holder by the Company shall be delivered in accordance with the notice
      provisions of the Purchase Agreement.

     

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    i) Limitation
      of Liability.
      No
      provision hereof, in the absence of any affirmative action by Holder to exercise
      this Warrant to purchase Warrant Shares, and no enumeration herein of the rights
      or privileges of Holder, shall give rise to any liability of Holder for the
      purchase price of any Common Stock or as a stockholder of the Company, whether
      such liability is asserted by the Company or by creditors of the
      Company.

     

    j) Remedies.
      Holder,
      in addition to being entitled to exercise all rights granted by law, including
      recovery of damages, will be entitled to specific performance of its rights
      under this Warrant. The Company agrees that monetary damages would not be
      adequate compensation for any loss incurred by reason of a breach by it of
      the
      provisions of this Warrant and hereby agrees to waive and not to assert the
      defense in any action for specific performance that a remedy at law would be
      adequate.

     

    k) Successors
      and Assigns.
      Subject
      to applicable securities laws, this Warrant and the rights and obligations
      evidenced hereby shall inure to the benefit of and be binding upon the
      successors of the Company and the successors and permitted assigns of Holder.
      The provisions of this Warrant are intended to be for the benefit of all Holders
      from time to time of this Warrant and shall be enforceable by any such Holder
      or
      holder of Warrant Shares.

     

    l) Amendment.
      This
      Warrant may be modified or amended or the provisions hereof waived with the
      written consent of the Company and the Holder.

     

    m) Severability.
      Wherever possible, each provision of this Warrant shall be interpreted in such
      manner as to be effective and valid under applicable law, but if any provision
      of this Warrant shall be prohibited by or invalid under applicable law, such
      provision shall be ineffective to the extent of such prohibition or invalidity,
      without invalidating the remainder of such provisions or the remaining
      provisions of this Warrant.

     

    n) Headings.
      The
      headings used in this Warrant are for the convenience of reference only and
      shall not, for any purpose, be deemed a part of this Warrant.

     

     

    ********************

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

     

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

     

    
      	
              SOLOMON
                TECHNOLOGIES, INC.

            
	 
	 
	
              By: 
                __________________________________________

              Name:

              Title:

            

    

    

     

     

    
      
         

      

      
        15

        
          

        

      

      
         

      

    

     

    NOTICE
      OF EXERCISE

    

    TO: SOLOMON
      TECHNOLOGIES, INC.

    

    (1) The
      undersigned hereby elects to purchase ________ Warrant Shares of the Company
      pursuant to the terms of the attached Warrant (only if exercised in full),
      and
      tenders herewith payment of the exercise price in full, together with all
      applicable transfer taxes, if any.

     

    (2) Payment
      shall take the form of (check applicable box):

     

    [
      ] in
      lawful money of the United States; or

     

    [
      ] [if
      permitted] the cancellation of such number of Warrant Shares as is necessary,
      in
      accordance with the formula set forth in subsection 2(c), to exercise this
      Warrant with respect to the maximum number of Warrant Shares purchasable
      pursuant to the cashless exercise procedure set forth in subsection
      2(c).

     

    (3) Please
      issue a certificate or certificates representing said Warrant Shares in the
      name
      of the undersigned or in such other name as is specified below:

     

    _______________________________

     

    

    The
      Warrant Shares shall be delivered to the following DWAC Account Number or by
      physical delivery of a certificate to:

    

    _______________________________

     

    _______________________________

     

    _______________________________

    

    (4)
      Accredited
      Investor.
      The
      undersigned is an “accredited investor” as defined in Regulation D promulgated
      under the Securities Act of 1933, as amended.

    

    [SIGNATURE
      OF HOLDER]

     

    Name
      of
      Investing Entity:
      ________________________________________________________________________

    Signature
      of Authorized Signatory of Investing Entity:
      _________________________________________________

    Name
      of
      Authorized Signatory:
      ___________________________________________________________________

    Title
      of
      Authorized Signatory:
      ____________________________________________________________________

    Date:
      ________________________________________________________________________________________

    

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

     

    ASSIGNMENT
      FORM

    

    (To
      assign the foregoing warrant, execute

    this
      form
      and supply required information. 

    Do
      not
      use this form to exercise the warrant.)

    

     

    FOR
      VALUE
      RECEIVED, [____] all of or [_______] shares of the foregoing Warrant and all
      rights evidenced thereby are hereby assigned to

     

    

    _______________________________________________
      whose address is

    

    _______________________________________________________________.

    

    

    

    _______________________________________________________________

    

    Dated:
      ______________, _______

    

    

    Holder’s
      Signature:  _____________________________

    

    Holder’s
      Address:   _____________________________

     

    _____________________________

    

    

    

    Signature
      Guaranteed: ___________________________________________

    

    

    NOTE:
      The
      signature to this Assignment Form must correspond with the name as it appears
      on
      the face of the Warrant, without alteration or enlargement or any change
      whatsoever, and must be guaranteed by a bank or trust company. Officers of
      corporations and those acting in a fiduciary or other representative capacity
      should file proper evidence of authority to assign the foregoing
      Warrant.August
      30, 2007

    

    

    To
      the
      Purchasers identified on the

    signature
      pages to the Securities Purchase Agreement 

    dated
      as
      of August 30, 2007

    

    Ladies
      and Gentlemen:

    

    This
      opinion is being delivered to you pursuant to Section 2.2(a)(ii) of the
      Securities Purchase Agreement dated as of August 30, 2007 (the “Purchase
      Agreement”), by and among Solomon Technologies, Inc., a Delaware corporation
      (the “Company”) and the purchasers identified on the signature pages thereto
      (the “Purchasers”) pursuant to which the Company has agreed to issue and sell to
      the Purchasers up to $1,000,000 worth of Variable
      Rate Self-Liquidating Senior Secured Convertible Debentures (the “Debentures”)
and
      Warrants (the “Warrants”) to purchase up to 1,000,000 shares of common stock of
      the Company.
      This
      opinion is being given with respect to the Initial Closing, at which $500,000
      of
      Debentures are being sold to three Purchasers. Capitalized terms used herein
      that are not defined herein shall have the respective meanings set forth in
      the
      Purchase Agreement. The Schedules referred to herein refer to the Disclosure
      Schedules to the Purchase Agreement, which have been delivered by the Company
      to
      the Purchasers as of the date of the Initial Closing. 

    

    We
      have
      acted as counsel to the Company in connection with the Transaction Documents
      (defined below) and the transactions contemplated thereby. We have examined
      originals or copies, certified or otherwise identified to our satisfaction,
      of
      the Transaction Documents. In addition, subject to the specific limitations
      and
      qualifications set forth below, we have examined originals or copies, certified
      or otherwise identified to our satisfaction, of such records, agreements,
      instruments and other documents, and have made such other investigations, as
      we
      have deemed relevant and necessary as a basis for the opinions hereinafter
      set
      forth.

    

    For
      the
      purposes hereof, we have assumed, with your permission and without independent
      verification of any kind: (a) that the signatures of persons signing all
      documents in connection with which this opinion is rendered are genuine and
      authorized; (b) the legal capacity of all natural persons; (c) that all
      documents submitted to us as originals or duplicate originals are authentic;
      (d)
      that all documents submitted to us as copies, whether certified or not, conform
      to authentic original documents; (e) that there has not been any mutual mistake
      or misunderstanding, fraud, duress, or undue influence; (f) that there are
      no
      agreements or understandings among the parties, written or oral, and there
      is no
      usage of trade or course of prior dealing among the parties that would, in
      either case, define, supplement, or qualify the terms of the Purchase Agreement,
      the Debentures, Warrants, Registration Rights Agreement, Security Agreement
      and
      Escrow Agreement (collectively, the “Transaction Documents”); (g) that the
      contracts, agreements, or instruments to which the Company is a party or by
      which its properties are bound other than the Transaction Documents will be
      enforced as written; (h) that all parties to the Transaction Documents
      other than the Company and the Escrow Agent (individually, an “Other Party” and
      collectively, the “Other Parties”) will act in accordance with, and will refrain
      from taking any action that is forbidden by, the Transaction Documents; (i)
      that
      each of the Other Parties and any agent acting for any of them in connection
      with the transactions contemplated by the Transaction Documents has acted in
      good faith and without notice of any defense against the enforcement of
      any

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    rights
      created by the Transaction Documents; and (j) that the constitutionality or
      validity of a relevant statute, rule, or regulation is not in issue.

    

    We
      have
      relied exclusively upon the representations of the Company contained in the
      Transaction Documents and in an officers’ certificate (insofar as they relate to
      matters of fact) and we have not, except as specifically noted, made any
      independent review or investigation of facts relating to the Company. Without
      limiting the generality of the foregoing, we have not made any independent
      review or investigation in connection with this opinion of the existence of
      any
      agreement, instrument, lease, contract, indenture, obligation, commitment,
      document or understanding to which the Company or any of its properties or
      assets may be bound, the existence of any litigation, action, suit, claim,
      proceeding or investigation pending or threatened against the Company or any
      basis therefor, or of the consideration received by the Company in connection
      with the issuance of the Company’s issued and outstanding capital stock. We have
      made no docket searches in any jurisdiction to determine the existence of any
      litigation, action, suit, claim, proceeding or investigation pending against
      the
      Company.

    

    In
      rendering the opinions expressed below, we have assumed, with your permission
      and without any independent investigation or verification of any kind, that:
      (i)
      each of the Other Parties that is not a natural person has been duly organized
      and is validly existing and in good standing under the laws of its jurisdiction
      of organization and of each other jurisdiction in which the conduct of its
      business or the ownership of its property makes such qualification necessary;
      (ii) each of the Other Parties has full power and authority to execute, deliver
      and perform the Transaction Documents to which it is a party; (iii) the
      execution, delivery and performance of the Transaction Documents to which the
      Other Parties are parties by each of the Other Parties that is not a natural
      person have been duly authorized by all requisite corporate or other action
      on
      its part; (iv) the Transaction Documents to which the Other Parties are parties
      have been duly executed and delivered by each applicable Other Party; and (v)
      the execution, delivery and performance of the Transaction Documents to which
      the Other Parties are parties do not and will not violate the by-laws, articles
      of incorporation or other organizational documents of any of the Other Parties
      that is not a natural person. We have further assumed, with your permission
      and
      without any independent investigation or verification of any kind, that each
      of
      the Transaction Documents constitute a valid and legally binding obligation
      of
      each party thereto other than the Company.

    

    Based
      upon the foregoing, and subject to the limitations and exceptions set forth
      herein, we are of the opinion that:

    

    1.The
      Company is a corporation validly existing and in good standing under the laws
      of
      the State of Delaware. The Company is duly qualified to transact business and
      is
      in good standing as a foreign corporation in the State of Florida.

     

    2.Except
      as
      set forth on Schedule 3.1(b) to the Purchase Agreement, each of the following
      subsidiaries of the Company (the “Subsidiaries”)
      is a
      corporation or limited liability company in good standing under the laws of
      its
      state of organization, as noted: Technipower LLC, a Delaware limited liability
      company; and DEL-INC Acquisition LLC, a Delaware limited liability
      company.

     

    3.The
      Company has the corporate power to own or hold under lease the property it
      purports to own or hold under lease, to carry on its business as now conducted,
      to enter into the Transaction Documents, and to perform its obligations under
      the Transaction Documents, to issue, sell and deliver the Debentures,
      the Warrants and the Underlying Shares at
      the
      Initial Closing and to consummate the transactions contemplated by the
      Transaction Documents.

     

    4.The
      execution, delivery and performance of the Transaction Documents and the
      consummation of the transactions contemplated thereby (including
      the issuance and sale of the

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Debentures,
      the Warrants and the Underlying Shares)
      have
      been
      duly authorized by all necessary corporate and stockholder action of
      the
      Company.
The
      Transaction Documents being delivered at the Initial Closing have been duly
      executed and delivered by the Company and constitute valid and binding
      obligations of the Company, enforceable against the Company in accordance with
      their respective terms.

     

    5.After
      giving effect to the transactions contemplated by the Purchase Agreement, and
      immediately after the Initial Closing, the authorized capital stock of the
      Company will consist of an aggregate of 100,000,000 shares of Common Stock
      and
      an aggregate of 7,450,000 shares of Preferred Stock. To our knowledge, and
      except as set forth in Schedule 3.1(g), immediately after the Initial Closing,
      the Company will have issued and outstanding 43,091,506 shares of Common Stock,
      all of which shares will be validly issued, fully paid and nonassessable. To
      our
      knowledge, immediately after the Initial Closing, (i)
      2,000,000 shares will be reserved for issuance to employees, officers and
      directors under the Company’s Amended and Restated 2003 Stock Option Plan (the
“2003 Plan”), of which up to 1,292,835 shares may be subject to currently
      outstanding non-qualified stock option grants; (ii) 1,000,000 shares will be
      reserved for options granted to employees outside the 2003 Plan; (iii) 2,916,000
      shares will be reserved for currently outstanding warrants; (iv) 1,000,000
      shares will be reserved for issuance upon exercise of the Warrants, (v)
      1,428,572 shares will be reserved for issuance upon conversion of the
      Debentures; (vi) 12,966,969 shares will be reserved for issuance upon conversion
      or redemption of other outstanding convertible debentures; and (vii) 155,158
      shares will be reserved for issuance as payment of accrued and unpaid interest
      under outstanding convertible debentures.
      The
      Debentures and Warrants that have been issued on the date hereof pursuant to
      the
      Purchase Agreement have been duly authorized and validly issued and are fully
      paid and nonassessable and free of preemptive or similar rights. The
Underlying
      Shares have been
      duly
      and validly authorized and reserved for issuance, and when issued in accordance
      with the conversion of the Debentures or the exercise of the Warrants in
      accordance with their respective terms will be validly issued, fully paid and
      nonassessable, and free of any preemptive or similar rights. To our knowledge,
      except for rights described in Schedule 3.1(g) of the Purchase Agreement, there
      are no other options, warrants, conversion privileges or other rights presently
      outstanding to purchase or otherwise acquire from the Company any capital stock
      or other securities of the Company, or any other agreements to issue any such
      securities or rights. 

     

    6.Assuming
      the accuracy of the representations and warranties of the Purchasers set forth
      in the Purchase Agreement, the Debentures and the Warrants
      may
      be
      issued and sold to the Purchasers without registration under the Securities
      Act.
      Assuming that the representations and warranties of the Purchasers set forth
      in
      the Purchase Agreement are accurate on each of the dates that Warrants are
      exercised and the Debentures are converted, and that the Warrants are exercised
      and the Debentures are converted by the Persons to whom they were initially
      issued by the Company, the Underlying Shares may be issued to the Purchasers
      without registration under the Securities Act. 

     

    7.None
      of
      the execution and delivery of the Transaction Documents, the issuance of the
      Debentures and Warrants
      that have been issued on the date hereof, and issuance of the Underlying
      Shares,
      the
      consummation of the transactions contemplated thereby or the performance of
      the
      terms and provisions thereof will result in any breach of or constitute a
      default (or an event that with notice or lapse of time or both would become
      a
      default) under, or give to others any right of termination, amendment,
      acceleration or cancellation of, or result in (or require) the creation of
      any
      lien upon any property of the Company under its certificate of incorporation
      or
      bylaws, or violate any provision
      of the current Delaware General Corporation Law or any current New York or
      federal statute, rule or regulation that, in each case, in
      our
      experience, is typically applicable to transactions of the nature contemplated
      by the Transaction Documents, except
      for any approval, filing or action that may be required by state or federal
      securities laws, rules or regulations, as to which no opinion is expressed
      except as set forth in paragraph 6 above. 

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    8.To
      our
      knowledge, there is no action, proceeding or investigation pending or overtly
      threatened against the Company or any of its properties in any court or before
      any arbitrator of any kind or by any governmental body.

     

    9.To
      our
      knowledge, except
      for such filings as shall have been made and approvals that shall have been
      obtained on or prior to and shall be effective on and as of the Initial Closing
      Date, no approval by, from or with and no other action in respect of, any
      governmental body or any other person (including any trustee or holder of any
      indebtedness, securities or other obligations of the Company), is required
      (a)
      for or in connection with the valid execution and delivery by the Company of
      or
      the performance by the Company of its obligations under the Transaction
      Documents or the consummation by the Company of the transactions contemplated
      thereby, including the offer, issuance, sale and delivery by the Company of
      the
      Debentures and Warrants and the issuance, sale and delivery of the Underlying
      Shares, or (b) as a condition to the legality, validity or enforceability as
      against the Company of the Purchase Agreement except
      for any approval, filing or action that may be required by state or federal
      securities laws, rules or regulations, as to which no opinion is expressed
      except as set forth in paragraph 6 above.

     

    10.The
      Company is not an Investment Company within the meaning of the Investment
      Company Act of 1940, as amended.

     

    Our
      opinion is further subject to the following limitations, qualifications and
      assumptions:

    

    (a) Our
      opinion is qualified by the effect of New York law under which a court may
      refuse to enforce, or may limit the application of, a contract or a clause
      thereof that the court finds unconscionable.

    

    (b) We
      express no opinion as to any matter that is affected by any actual fact or
      circumstance inconsistent with or contrary to any assumption set forth herein
      or
      in any document referred to herein.

    

    (c) The
      opinion set forth in paragraph 1 above is based solely upon certificates issued
      by the Secretaries of State of each of Delaware and Florida, as applicable,
      as
      set forth on Schedule
      I
      hereto.
      The opinion set forth in paragraph 2 above is based solely upon certificates
      issued by the Secretaries of State of each of Delaware and Connecticut, as
      applicable, as set forth on Schedule
      II
      hereto.

    

    (d) The
      opinions set forth in paragraph 5 above are based solely upon our review of
      the
      Company’s certificate of incorporation, the Company’s by-laws and minute books
      and a certificate of officers of the Company.

    

    (e) The
      opinion set forth in paragraph 4 above is subject to the effect of any
      bankruptcy, insolvency, reorganization, moratorium or other similar laws
      relating to or affecting the rights of creditors generally and to the
      application of general principles of equity (regardless of whether considered
      in
      a proceeding in equity or at law), including, without limitation, (i) the
      possible unavailability of specific performance, injunctive relief or any other
      equitable remedy and (ii) concepts of materiality, reasonableness, good faith
      and fair dealing. Accordingly, no opinion is given herein as to the availability
      of specific performance or equitable relief of any kind, or the effect of any
      law of any jurisdiction regarding fraudulent conveyance or fraudulent
      transfer.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (f) We
      express no opinion as to the enforceability of (i) provisions that purport
      to
      establish evidentiary standards, (ii) provisions exculpating a party from,
      or
      indemnifying a party for (or entitling a party to contribution in a case
      involving), its own gross negligence, willful misconduct or violation of
      securities or other laws, (iii) provisions relating to the availability of
      specific remedies or relief or the release or waiver of any remedies or rights
      or time periods in which claims are required to be asserted, (iv) provisions
      relating to the discharge of defenses or disclaimers, liability limitations
      or
      limitations of the obligations of the Investors or the Company under any of
      the
      Transaction Documents, (v) provisions relating to choice of law,
      or (vi)
      provisions purporting to waive illegality as a defense to performance of
      contract obligations.

    

    (g) We
      express no opinion as to the enforceability of any section of the Transaction
      Documents to the extent it purports to waive any objection a person may have
      that a suit, action or proceeding has been brought in an inconvenient
      forum.

    

    (h) We
      express no opinion as to any provision in the Transaction Documents that relates
      to the subject matter jurisdiction of any United States District Court to
      adjudicate any controversy relating to such agreements.

    

    (i) We
      express no opinion with respect to the effect of any provision of the
      Transaction Documents that (i) is intended to permit modification thereof only
      by means of an agreement signed in writing by the parties thereto, (ii) provides
      that any Person purchasing any Debentures or Warrants from a Purchaser or other
      Person may exercise set off or similar rights with respect to such participation
      or (iii) imposes penalties or forfeitures.

    

    (j) The
      opinions set forth herein are given as of the date hereof and we shall have
      no
      obligation to update this opinion letter to reflect any facts or circumstances
      that may hereafter come to our attention or any changes in any law, rule or
      regulation that may hereafter occur.

    

    As
      used
      in this letter, the word “knowledge” or the phrase “to our knowledge” means the
      conscious awareness of facts or other information by only those lawyers of
      this
      law firm who have had active involvement in negotiating the transactions
      contemplated by the Transaction Documents or preparing or reviewing such
      agreements - namely, Ralph W. Norton and Jennifer Crick.

     

    The
      opinions expressed herein are limited to the laws of the State of New York,
      the
      General Corporation Law of the State of Delaware and the federal laws of the
      United States of America.

    

    This
      opinion is rendered solely for your benefit in connection with the subject
      transaction, and is not to be relied upon by any other person, or otherwise
      furnished to third parties, used, circulated, quoted or relied upon, without
      our
      prior consent.

    

    Very
      truly yours,

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00130-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00130-of-00352.parquet"}]]