Document:

THE SECURITY  REPRESENTED BY THIS CERTIFICATE OR OTHERWISE  CONTEMPLATED IN THIS
AGREEMENT  HAS BEEN  ACQUIRED  FOR  INVESTMENT  AND NOT  WITH A VIEW  TO,  OR IN
CONNECTION WITH, THE SALE OR DISTRIBUTION  THEREOF.  NO SUCH SALE OR DISPOSITION
MAY BE EFFECTED WITHOUT AN EFFECTIVE  REGISTRATION  STATEMENT RELATED THERETO OR
AN OPINION OF COUNSEL  SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT
REQUIRED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

                              STOCK BONUS AGREEMENT

THIS STOCK BONUS  AGREEMENT  ("Agreement")  is entered into as of the 1st day of
August,  2001,  by and between  Accesspoint  Corporation,  a Nevada  corporation
("Company"), and named individual ("Employee"). Accesspoint and/or the Employees
are sometimes  herein referred to individually as a "party" and  collectively as
the "parties."

                                 R E C I T A L S

A.   WHEREAS,  Employee  is an employee of Processing Source International, Inc.
("PSI");

B.   WHEREAS,  PSI  is  a  wholly  owned  subsidiary  of Accesspoint Corporation
("APC");

C.   WHEREAS,  on  or  about  March 19, 1999 the Company adopted the Accesspoint
Corporation 1999 Stock Incentive Plan ("Plan"); and,

D.   WHEREAS, the Board of Directors of the Company  desire to grant to Employee
certain stock awards in the form of Preferred  stock,  Series A, pursuant to the
terms and conditions of this Agreement and the Plan.

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

                                   ARTICLE 1.

                            GRANT OF PREFERRED SHARES

1.1.   GRANT  OF  PREFERRED  SHARES. For  value received, the Corporation hereby
grants  to  Employee  the  number of shares  of its  Preferred  Stock,  Series A
("Shares"),  set forth on  Schedule  1,  attached  hereto and made a part hereof
("Award").  The Shares  shall be made  available  from  authorized  and unissued
Preferred  Stock,  Series A, of the Company or from shares of  Preferred  Stock,
Series A, held by the Company as treasury  stock.  The  foregoing  Award is made
subject to the terms and conditions  hereinafter set forth.  The above Preferred
Stock, Series A, is subject to certain  redemption,  conversion and other rights
and  restrictions

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set forth in a Certificate of  Determination  filed by the Company.  The Company
shall not issue any Preferred Stock, Series A, unless and until a Certificate of
Determination is filed by the Company.

1.2.   FAIR MARKET PRICE.  The fair market price for the Shares  shall be deemed
to be 3% of the  closing  price  at  which a share  of the  common  stock of the
company shall have been valued on the date of the grant pursuant to Schedule 1.

1.3.   PLAN.  The  Award set forth herein is made expressly subject to the terms
and conditions of the Plan.  Notwithstanding the foregoing,  APC may, in lieu of
awards by the  Company  under the Plan,  or in  coordination  with awards by the
Company  under the Plan,  make stock bonus awards  pursuant to a similar plan or
plans  adopted by APC. It is the intent of the parties to provide  Employee with
the  benefit  of  ultimately  being  eligible  for  conversion  of some stock or
security into Common Shares of the Company.

1.4.   CONVERSION. The Shares shall, subject to the terms and conditions of this
Agreement,  be convertible into fully paid non-assessable shares of Common Stock
upon  the  occurrence  of the  events  set  forth  herein.  Notwithstanding  the
foregoing,  the Shares may not be  converted  if the  issuance  of any shares of
Common Stock upon such conversion would constitute a violation of any applicable
federal or state  securities or other law or  regulation.  As a condition to the
conversion  of the Shares,  the  Company  may  require the  Employee to make any
representation  and warranty to the Company as may be required by any applicable
law or regulation.

1.5.   CONVERSION SCHEDULE.The Shares shall, subject to the terms and conditions
set forth in this Agreement,  and subject to forfeiture as set forth herein,  be
convertible  into Common  Shares upon the  attainment  of certain  earnings  and
revenue  milestones  by APC,  as defined at  Article 1, in  accordance  with the
conversion schedule set forth on Schedule 1.

1.6.   TIME FOR  ATTAINMENT  OF REVENUE  LEVELS.  The  revenue  levels of APC as
milestones  referenced  above must be attained  by APC within the time  periods,
measured from the effective  date of this  Agreement as set forth on Schedule 1.
If the revenue levels are not so attained within the following times, the number
of Shares  available for  conversion  hereunder  shall decrease at a rate of ten
percent (10%) of the then  remaining  amount of Shares  available for conversion
each  calendar  month,  prorated on the basis of number of days in each calendar
month.

1.7.   SHARES AVAILABLE FOR CONVERSION.The Shares available for conversion shall
be reduced as a pool as set forth at, above. Should the pool of Shares available
for conversion be insufficient  to provide for any level of conversion,  in full
or part, at any time as set forth in this  Agreement,  the remaining  conversion
schedule shall be of no further force or effect and all conversion  rights shall
expire  and  terminate  and no  further  Shares  shall  convert or be subject to
conversion.

1.8.   SERVICE ADJUSTMENTS.The Shares subject to the Award, whether converted or
unconverted, shall be forfeited to the Company if the employment of the Employee
by the Company or an Affiliate is terminated for cause, as set forth herein.  If
such  termination  occurs  prior  to  completion  of 180  full  working  days of
continuous employment service, Employee shall forfeit one hundred percent (100%)
of the Shares,  whether  converted or unconverted.  If such  termination  occurs
after completion of 180 full working days of continuous  employment service, but
prior to completion of 270 full working days of continuous  employment  service,
Employee shall forfeit an amount of Shares,  whether  converted or  unconverted,
equal to 8/9 of the

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total Award  amount,  prorated on the basis of a 30 day month.  Thereafter,  for
each 30 day period,  or portion  thereof on a 30 day prorated basis, of complete
full working days of continuous  employment  service,  Employee shall forfeit an
amount of shares reduced by an amount equal to 1/9 of the total Award amount, so
that upon completion of 540 full working days of continuous employment,  none of
the Shares,  whether  converted or  unconverted,  pursuant to the Award shall be
subject to  forfeiture.  All  prorations  shall be made on the basis of a 30 day
month and a 360 day year.

1.9.   SPECIAL CONVERSION  OF DEATH OR FULL  DISABILITY.  Upon the death or full
disability of Employee,  and subject to the service  adjustments and forfeitures
as set forth above,  ten percent  (10%) of any Shares not then  converted  shall
automatically convert for the benefit of the Employee or the estate of Employee,
and the  remainder of the  conversion  rights shall expire and terminate and any
then unconverted Shares shall be forfeited to the Company.

1.10.  FULL DISABILITY OF EMPLOYEE.  In the event Employee  becomes  mentally or
physically  disabled to such an extent that Employee is unable to  substantially
perform  Employee's  normal  employment  duties on behalf of the  Company  for a
period  of  thirty  (30)  consecutive  days or more,  the  Company,  at any time
thereafter,  shall have the right, at its sole option, to declare Employee fully
disabled hereunder.

1.11.  DEFINITION  OF  CAUSE.  As used  herein  with  regard  to  suspension  or
discharge,  cause shall consist of the following:  (i) cause as defined pursuant
to any written  employment  agreement to which the Employee is a party; (ii) the
conviction  of Employee by a court of  competent  jurisdiction  (and to which no
further  appeal  can be taken) of a felony or any other  crime  involving  moral
turpitude;  (iii) the  commission  by  Employee  of an act of fraud or other act
materially  evidencing bad faith or  dishonesty;  (iv) the  misappropriation  by
Employee  of any  funds or  property  or other  rights of the  Company;  (v) the
suspension  or  removal  or  termination  of  Employee  by or at the  request or
requirement of any governmental  authority having jurisdiction over the Company;
(vi) the  willful  refusal  to  follow  any  lawful  directive  of the  Board of
Directors of Company;  or (vii) the breach by Employee of any material  terms of
this Agreement or any other  agreement  between  Employee and the Company or any
affiliate of the Company. The foregoing definition shall be used for purposes of
this  Agreement  only  and  shall  have  no  other  effect,   whether   binding,
interpretive,  illustrative,  or  otherwise,  on  any  employment  relationship,
whether at-will or pursuant to a written agreement employment agreement.

1.12.  EXPIRATION OF CONVERSION RIGHTS. The conversion rights with regard to any
and all  Shares  which do not  become  fully  converted  at the  time set  forth
therefor  shall be deemed  expired and such Shares shall no longer be subject to
conversion in accordance with the terms and conditions of this  Agreement.  Such
Shares unconverted Shares shall be forfeited to the Company.

1.13.  REVENUE.  Subject to adjustment as set forth at Section 1.13,  below, the
term revenue as used herein shall mean the gross  revenue of APC from sources as
follows:  (i) all of the capital inflows of APC (or enhancements of assets) from
producing and delivering  goods,  rendering  services,  or other activities that
constitute  the  ongoing  central  business  operations  of APC;  and (ii) gross
revenues  from sales and  licensing  transaction  made by APC with regard to the
services  and  products  of APC for the  account or benefit of APC  pursuant  to
transactions materially initiated by Employee or in which the Employee is or was
a direct and substantial  influence.  Subject to the definitions and adjustments
set forth  herein,  the term revenue  shall be  construed  hereunder in a manner
consistent with generally accepted accounting principles.

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1.14.  ADJUSTMENT TO REVENUE.  The term revenue as used herein shall be adjusted
to exclude  contributions or distributions from the Company to APC or any of its
affiliated entities,  contributed capital,  equity inconvertments,  tax credits,
and  revenues,  gains and/or  increases in equity or assets from  peripheral  or
incidental  transactions  not otherwise  specifically set forth at Section 1.10,
above.

1.15.  RIGHTS AS SHAREHOLDER. Employee shall have all rights as a shareholder of
Preferred Stock, Series A, with respect to the Shares, except to the extent that
such  rights as a share owner would cause the Plan not to comply with Rule 16b-3
under the  Securities  Exchange Act of 1934, as amended.  Employee  acknowledges
that the Preferred Stock, Series A, bear no voting rights.

                                   ARTICLE 2.

                       ISSUANCE OF FULLY CONVERTED SHARES

2.1.   ISSUANCE ON  CONVERSION. Before any Shares may be  converted  into Common
Shares,  the Employee must surrender the certificate or certificates  evidencing
the Shares,  duly  endorsed in blank or  accompanied  by proper  instruments  of
transfer,  at the office of the  Company or any  transfer  agent for the Shares.
Employee  shall  give  written  notice to the  Company at such  office  that the
Employee  reasonably  believes  that  that a  certain  number  of Shares is then
subject to  conversion  as set forth  herein.  The notice shall also specify the
name or names in which the Employee the certificate or  certificates  for Common
Shares to be issued.  If a name  specified is not that of  Employee,  the notice
shall  also  state the  address  of the new  holder  and any  other  information
required by law. The Company shall have the right,  in its sole  discretion,  to
decline  to issue  any such  certificates  in any  name  other  than the name of
Employee  appearing the surrendered  certificates  representing the Shares.  The
Company  shall,  subject to the tax provisions set forth at Section 2.7, as soon
as practicable thereafter, issue and deliver at such office to the holder of the
Shares converted, or the that holder's nominee or nominees, certificates for the
number of full Common  Shares to which the holder shall be entitled,  to receive
together with a scrip  certificate or cash in lieu of any fraction of a share as
provided herein,  subject further to an available exemption under the securities
laws and general  compliance with all securities  laws,  rules and  regulations.
Notwithstanding  the  foregoing,  the Company  shall not be obligated to deliver
registered  or  qualified   securities  to  Employee,   and  the  obligation  of
Accesspoint to issue Common Shares and/or deliver stock certificates shall abate
unless and until an available  exemption from the requirement of registration or
qualification  under any  applicable  securities  laws is  available  and may be
obtained and perfected.

2.2    CONVERSION DATE.Conversion hereunder shall be deemed to have been made as
of the date of  surrender  of the  Shares  to be  converted,  and the  person or
persons  entitled to receive the Common Shares issuable upon conversion shall be
treated for al purposes as the record holder or holders of such Common Shares on
that date.

2.3.   COMPLIANCE WITH  SECURITIES  LAWS.  All  offers,  sales,   transfers  and
Conversions  of the  Shares  shall be made in  compliance  with  all  applicable
securities  laws,  rules  and  regulations,  and  pursuant  to  registration  of
securities under the Securities Act (and qualification under General Corporation
Law of  California)  or pursuant to an  exemption  from  registration  under the
Securities Act (and qualification  under General Corporation Law of California).
The Employee  acknowledges  that the Shares are subject to the  restrictions  on
transfer set forth in Rule 144 of the Rules promulgated under the Securities Act
of  1933  ("Act").  Any

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and all offers and sales, to the extent permitted  hereunder,  by Employee after
the restricted  period shall be made only pursuant to such a  registration  (and
qualification)  or to such  exemption  from  registration  (and  qualification).
Employee  shall  comply  with  all  policies  and   procedures   established  by
Accesspoint with regard to Rule 144 matters.

2.4.   CHANGE IN STRUCTURE OF ACCESSPOINT. Upon the  consummation of any sale of
substantially all of the assets of Accesspoint, or the merger,  consolidation or
reorganization  of  Accesspoint  in  which  Accesspoint  is  not  the  surviving
corporation,  and directly  pursuant to which  Employee is materially  prevented
from achieving any applicable revenue  milestones as set forth herein,  then all
conditionally converted Shares shall fully convert and Employee shall be granted
fully converted Shares as if the next applicable revenue milestone had then been
achieved.  The  remainder of any  conversion  rights  pertaining  to the Shares,
including,  without  limitation,  conversion  rights pertaining to conditionally
converted  Shares,  shall expire and terminate and the Shares shall no longer be
subject to conversion.

2.5.   EMPLOYMENT RELATIONSHIP.  The  parties  acknowledge  that any  employment
relationship  or  relationships  between  the  Employees  and the Company or the
Employees  and  Accesspoint,  if any,  is set forth  pursuant  to the terms of a
separate written  employment  agreement and that nothing in this Agreement shall
affect in any manner whatsoever such employment  relationships,  if any, between
The Employees and such parties. This Agreement does not constitute an express or
implied  promise of continued  employment for the periods  defined herein or any
other period or periods.

2.6.   TAX MATTERS. If  Accesspoint  determines  that it is required to withhold
federal,  state or local tax as a result of the grant of the Award or conversion
of the Shares,  then  Employee,  as a condition to the conversion of the Shares,
shall make arrangements satisfactory to Accesspoint to enable it to satisfy such
withholding  requirements.  Employee will pay when due and payable,  any and all
federal and state taxes or fees that may be payable by Employee with respect to,
without  limitation:  (i) the grant of the Shares;  (ii) the  conversion  of the
Shares; (iii) the issuance of any Common Shares or certificates therefor; and/or
(iv) the subsequent  disposition,  to the extent permitted hereunder,  of any of
the Shares, Common Shares, or certificates issued to Employee upon conversion of
the Shares.  The Employee  understands  that any of the foregoing  references to
taxation are based on federal income tax laws and regulations now in effect, and
may not be applicable to the Employee under certain circumstances.  The Employee
may also have  adverse tax  consequences  under state or local law. The Employee
has reviewed with the Employee's own tax advisors the federal,  state, local and
foreign tax consequences of the transactions contemplated by this Agreement. The
Employee  is  relying  solely  on such  advisors  and not on any  statements  or
representations  of the Company or any of its agents.  The Employee  understands
that the Employee (and not the Company) shall be responsible  for the Employee's
own tax liability that may arise as a result of the transactions contemplated by
this Agreement.

2.7.   INCIDENTAL REGISTRATION.Accesspoint shall give written notice to Employee
of any proposed  registration under the Act of any of its securities of the same
class and series as the Common Shares issued to Employee  pursuant to conversion
of the Shares.  Accesspoint will use its best reasonable  commercial  efforts to
include in any such  Registration  Statement,  at the cost of Accesspoint and in
accordance  with the  intended  method or  methods of  distribution,  any of the
Common  Shares  issued to  Employee  pursuant  to  conversion  of the  Shares if
Employee  shall  request  inclusion  within  thirty  (30) days after the date of
mailing of the above notice. Employee will cooperate with Accesspoint,  execute,
acknowledge,  notarize,  and deliver reasonable  documents and instruments,  and
provide Accesspoint with all reasonable  documents,  instruments and information
reasonably  required to prepare,  complete and file the Registration  Statement.

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Employee  represents that no such documents,  instruments and information  shall
contain any untrue  statements  of material  fact or omit to state any  material
facts required to be stated therein necessary to make the statements therein not
misleading in light of the  circumstances  then  existing.  Notwithstanding  the
foregoing,  Accesspoint  may, but shall not be required  hereunder  to, keep any
such  Registration  Statement  effective  or prepare or file any  amendments  or
post-effective  amendments  to the  Registration  Statement  with  regard to the
shares of  Employee  or assist in any way with the sale or  distribution  of the
shares of Employee.

                                   ARTICLE 3.

                            RESTRICTIONS ON TRANSFER

3.1.   RESTRICTIONS. Notwithstanding  anything herein to the contrary,  Employee
understands  and agrees  that  Employee  shall not dispose of any of the Shares,
whether  by  sale,  exchange,  assignment,   transfer,  gift,  devise,  bequest,
mortgage, pledge, encumbrance or otherwise,  except in accordance with the terms
and conditions of this Agreement, and Employee shall not take or omit any action
which will impair the absolute and  unrestricted  right,  power,  authority  and
capacity of Employee to sell Shares in accordance  with the terms and conditions
hereof

3.2.   TRANSFERS VOID.Any purported transfer of Shares by Employee that violates
any provision of this Agreement  shall be wholly void and  ineffectual and shall
give to the Company or its designee the right to purchase  from Employee all but
not less than all of the Shares then owned by  Employee  for a period of 90 days
from the  date  the  Company  first  learns  of the  purported  transfer  at the
Agreement  Price  and on the  Agreement  Terms (as those  terms are  defined  in
Sections 3.11 and 3.12, respectively,  of this Article 3). If the Shares are not
purchased by the Company or its designee,  the purported  transfer thereof shall
remain  void and  ineffectual  and they  shall  continue  to be  subject to this
Agreement.  The Company  shall not cause or permit the transfer of any Shares to
be made on its books except in accordance with the terms hereof.

3.3.   PERMITTED TRANSFERS.Employee may sell, assign or transfer any Shares held
by the  Employee  but only by  complying  with the  provisions  of Section  3.7.
Employee may sell,  assign or transfer  any Shares held by the Employee  without
complying  with the  provisions  of Section 3.7 by obtaining  the prior  written
consent of the  Company as approved by a majority of the members of the Board of
Directors of the Company,  provided that the transferee  agrees in writing to be
bound by the provisions of this Agreement and the transfer is made in accordance
with any other  restrictions or conditions  contained in the written consent and
in accordance with applicable federal and state securities laws.

3.4.   NO TRANSFER UPON DEATH.  No Shares may be  transferred  upon the death of
Employee;  the Shares shall be subject to the special  conversion and forfeiture
provisions  set  forth  hereinabove  pertaining  to the death or  disability  of
Employee.

3.5.   NO PLEDGE.  Unless  a majority  of the  members of the Board of Directors
consent, Shares may not be pledged,  mortgaged or otherwise encumbered to secure
indebtedness  for money borrowed or any other  obligation for which the Employee
is primarily or secondarily liable.

3.6.   STOCK CERTIFICATE LEGEND. Each stock certificate for Shares issued to the
Employee shall have conspicuously  written,  printed,  typed or stamped upon the
face thereof,  or upon the reverse  thereof with a

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conspicuous  reference on the face thereof, the following legend, in addition to
any other legend or legends  deemed  required or  appropriate by counsel for the
Company:

THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ISSUED WITHOUT REGISTRATION
UNDER THE SECURITIES ACT OF 1933, AS AMENDED,  AND MAY NOT BE TRANSFERRED IN THE
ABSENCE  OF  REGISTRATION   THEREUNDER  OR  AN  APPLICABLE  EXEMPTION  FROM  THE
REGISTRATION  REQUIREMENTS  OF SUCH ACT. SUCH SHARES MAY NOT BE SOLD,  ASSIGNED,
TRANSFERRED,  OR OTHERWISE  DISPOSED OF IN ANY MANNER EXCEPT IN ACCORDANCE  WITH
AND  SUBJECT TO THE TERMS OF THE STOCK  BONUS  AGREEMENT,  A COPY OF WHICH IS ON
FILE AT THE PRINCIPAL OFFICE OF THE COMPANY. UNLESS A MAJORITY OF THE MEMBERS OF
THE BOARD OF DIRECTORS CONSENT, SUCH STOCK BONUS AGREEMENT PROHIBITS ANY PLEDGE,
MORTGAGE OR OTHER  ENCUMBRANCE  OF SUCH SHARES TO SECURE ANY  OBLIGATION  OF THE
HOLDER HEREOF.  EVERY CREDITOR OF THE HOLDER HEREOF AND ANY PERSON  ACQUIRING OR
PURPORTING  TO ACQUIRE THE  CERTIFICATE  OR THE SHARES  HEREBY  EVIDENCED OR ANY
INTEREST  THEREIN  IS HEREBY  NOTIFIED  OF THE  EXISTENCE  OF SUCH  STOCK  BONUS
AGREEMENT,  AND ANY ACQUISITION OR PURPORTED  ACQUISITION OF THIS CERTIFICATE OR
THE SHARES  HEREBY  EVIDENCED  OR ANY INTEREST  THEREIN  SHALL BE SUBJECT TO ALL
RIGHTS AND  OBLIGATIONS OF THE PARTIES TO SUCH STOCK BONUS  AGREEMENT AS THEREIN
SET FORTH.

3.7.   SALES OF  SHARES;  RIGHT OF  FIRST  REFUSAL.  The  Company  shall  have a
right of first  refusal with regard to any sale,  assignment,  transfer or other
disposition of any Shares held by Employee.

       3.7.1.  In  the event  that the Employee shall desire to sell,  assign or
transfer  any Shares  held by the  Employee to any other  person  (the  "Offered
Shares")  and shall be in receipt of a bona fide offer to  purchase  the Offered
Shares ("Offer"),  the following  procedure shall apply. The Employee shall give
to the Company written notice  containing the terms and conditions of the Offer,
including,  but not limited to: (i) the number of Offered Shares; (ii) the price
per Share;  (iii) the method of payment;  and (iv) the  name(s) of the  proposed
purchaser(s).

       3.7.2.  An  offer  shall not be deemed bona fide unless the  Employee has
informed the  prospective  purchaser  of the  Employee's  obligation  under this
Agreement and the  prospective  purchaser has agreed to become a party hereunder
and to be bound  hereby.  The  Company  is  entitled  to take  such  steps as it
reasonably  may deem necessary to determine the validity and bona fide nature of
the Offer.

       3.7.3.  Until  10 days after  such  notice is given,  the  Company or its
designee shall have the right to purchase all of the Offered Shares at the price
offered by the prospective purchaser and specified in such notice. Such purchase
shall be on the Agreement Terms, as defined in Sections 3.11 and 3.12.

3.8.   FAILURE OF COMPANY OR ITS DESIGNEE TO PURCHASE OFFERED SHARES.  If all of
the Offered Shares are not purchased by the Company  and/or its designee  within
the 10-day period granted for such purchases,  then any remaining Offered Shares
may be sold, assigned or transferred pursuant to the Offer;  provided,  that the
Offered Shares are so transferred within 15 days of the expiration of the 10-day
period to the person or persons named in, and under the terms and conditions of,
the bona fide  Offer  described  in the  notice  to the  Company;  and  provided
further, that such persons agree to execute and deliver to the Company a written

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agreement, in form and content satisfactory to the Company, agreeing to be bound
by the terms and conditions of this Agreement.

3.9.   MANNER OF EXERCISE. Any right to purchase  hereunder  shall be  exercised
by giving  written notice of election to the Employee,  the Employee's  personal
representative  or any other  selling  person,  as the case may be, prior to the
expiration of such right to purchase.

3.10.  AGREEMENT PRICE.  The  "Agreement  Price"  shall be the higher of (i) the
fair market value of the Shares to be purchased  determined in good faith by the
Board of  Directors of the Company or (ii) the  original  exercise  price of the
Shares to be purchased.

3.11.  DELIVERY OF SHARES AND CLOSING  DATE. At the closing,  the Employee,  the
Employee's personal representative or such other selling person, as the case may
be, shall deliver  certificates  representing the Shares,  properly endorsed for
transfer,  and with the necessary  documentary and transfer tax stamps,  if any,
affixed, to the purchaser of such Shares. Payment of the purchase price therefor
shall   concurrently   be  made  to  the  Employee,   the  Employee's   personal
representative  or such other selling person,  as provided in subsection (ii) of
this Section  3.11.  Such  delivery and payment  shall be made at the  principal
office of the Company or at such other place as the parties  mutually agree. The
foregoing may be herein referred to as the "Agreement Terms."

3.12.    PAYMENT OF PURCHASE  PRICE.  The Company  shall pay the  purchase price
to the Employee at the closing. The purchase price payment terms shall be a part
of the "Agreement Terms."

3.13.  RIGHT TO PURCHASE UPON CERTAIN OTHER EVENTS.  The Company or its designee
shall have the right to purchase  all, but not less than all, of the Shares held
by the Employee at the Agreement  Price and on the Agreement  Terms for a period
of 90 days after any of the following events:

       3.13.1.  Any  attempt  by  a  creditor  to  levy  upon or sell any of the
Employee's Shares;

       3.13.2.  The  filing  of  a  petition  by  the  Employee  under  the U.S.
Bankruptcy Code or any insolvency laws;

       3.13.3.  The filing of a petition  against  Employee under any insolvency
or  bankruptcy  laws by any  creditor of the  Employee  if such  petition is not
dismissed within 30 days of filing;

       3.13.4.  The  entry  of  a decree of divorce between the Employee and the
Employee's spouse; or,

       3.13.5.  The  termination  of  Employee's  services  as  an  employee  or
consultant with the Company.

3.14.  NOTICE OF EVENTS. The Employee  shall provide the Company  written notice
of the  occurrence  of any event set forth at Section 3.13 within 30 days of the
occurrence of such event.

3.15.  TERMINATION. The provisions  of this  Article 3 shall  terminate  and all
rights of each such party  hereunder  shall  cease  except for those which shall
have theretofore accrued upon the occurrence of any of the following events:

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<PAGE>

       3.15.1.  Cessation of the Company's business;

       3.15.2.  Bankruptcy, receivership or dissolution of the Company;

       3.15.3.  Ownership  of  all  of  the issued and outstanding shares of the
Company by a single shareholder of the Company;

       3.15.4.  Written consent or agreement of the shareholders  of the Company
holding  50% of the then  issued  and  outstanding  shares  Common  Stock of the
Company (determined on a fully diluted basis);

       3.15.5.  Consent  or agreement  of a majority of the members of the Board
of Directors of the Company; or,

       3.15.6.  Registration  of any  class of equity  securities of the Company
pursuant to Section 12 of the Securities Exchange Act of 1934, as amended.

3.16.  AMENDMENT.  This Article 3 may be modified or amended in whole or in part
by a written instrument signed by shareholders of the Company holding 50% of the
outstanding  shares of Common Stock  (determined  on a fully diluted basis) or a
majority of the members of the Board of Directors of the Company.

                                   ARTICLE 4.

                               GENERAL PROVISIONS

4.1.   RECITALS. The recitals set forth above are incorporated  herein  by  this
reference  and  made a part of this Agreement.

4.2.   ADVICE  OF  COUNSEL.  Each  party has been advised of and understands the
terms and  conditions  of this  Agreement.  This  Agreement  has been freely and
voluntarily entered into and executed by the parties, each of the parties hereto
being duly represented by counsel or having the benefit of advice of counsel.

4.3.   AMENDMENTS.  This  Agreement  may  be  amended only by written consent of
each of the parties hereto.

4.4.   FURTHER  ACTS.  The  parties  hereto  shall cooperate with each other and
execute such  additional  documents or instruments and perform such further acts
as may  be  reasonably  necessary  to  affect  the  purpose  and  intent  of the
Agreement.

4.5.   NOTICES. Any and all notices, demands, requests,  or other communications
required or permitted by this  Agreement or by law to be served on, given to, or
delivered to any party hereto by any other party to this  Agreement  shall be in
writing and shall be deemed duly served,  given,  or delivered  when  personally
delivered  to the  party  or to an  officer  of the  party,  or in  lieu of such
personal delivery, when deposited in the United States mail, first-class postage
prepaid addressed as follows:

                                       9

<PAGE>

Accesspoint:                        Accesspoint Corporation
                                    38 Executive Park
                                    Suite 350
                                    Irvine, CA 92614
                                    Attn: Tom M. Djokovich

Employee:                           [See Schedule 1]

4.6.   EFFECT OF HEADINGS.  The  subject  headings of the  paragraphs  and  sub-
paragraphs of this Agreement are included for purposes of convenience  only, and
shall not affect the construction or interpretation of any of its provisions.

4.7.   ENTIRE AGREEMENT; MODIFICATION,  WAIVER.  This Agreement  constitutes the
entire  agreement  between the parties  pertaining to the  conditional and final
converting  of any  Shares,  and along with the Plan and the  Trust,  the entire
agreement  between the parties  pertaining to any other subject matter contained
herein.  This  Agreement  supersedes  all prior and  contemporaneous  agreement,
representations  and  understandings  of the  parties.  No  waiver of any of the
provisions of this Agreement  shall be deemed,  or shall  constitute a waiver of
any other provision,  whether or not similar,  nor shall any waiver constitute a
continuing  waiver. No waiver shall be binding unless executed in writing by the
party making the waiver.

4.8.   SEVERABILITY.  Should  any  provision  or  portion of this  Agreement  be
held or otherwise become  unenforceable or invalid for any reason, the remaining
provisions  and  portions  of  this  Agreement   shall  be  unaffected  by  such
unenforceability or invalidity.

4.9.   COUNTERPARTS.  This  Agreement may be executed  simultaneously  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.  The exhibits  attached
hereto and  initialed  by the parties  are made a part  hereof and  incorporated
herein by this reference.

4.10.  PARTIES  IN  INTEREST.  Nothing  in this  Agreement,  whether  express or
implied, is intended to confer any rights or remedies under or by reason of this
Agreement  on any persons  other than the parties to it, and APC,  and their and
its respective  successors and assigns.  APC is expressly declared to be a third
party beneficiary under this agreement with full rights of enforcement. Further,
nothing in this  Agreement  intended to relieve or discharge  the  obligation or
liability of any third party to this Agreement, nor shall any provision give any
third  person  except APC any right of  subrogation  or action over  against any
party to this Agreement.

4.11.  ASSIGNMENT.The Shares may be exercised only by Employee during his or her
lifetime, unless expressly agreed otherwise in writing by Accesspoint.  Employee
may not transfer or assign, or purport to transfer or assign, the Shares without
the prior written  consent of  Accesspoint.  To the extent that  Accesspoint may
consent to any such  assignment,  this Agreement  shall be binding on, and shall
inure to the  benefit  of,  the heirs,  legal  representatives,  successors  and
assigns of Employee.  Accesspoint  may assign this Agreement to any entity which
purchases  substantially  all of the assets of Accesspoint,  or is the surviving
entity in any merger, consolidation or reorganization of Accesspoint.

                                       10

<PAGE>

4.12.  SPECIFIC  PERFORMANCE. Each party's  obligations under this Agreement are
unique. If any party should default in its obligations under this Agreement, the
parties each acknowledge that it would be extremely impracticable to measure the
resulting  damages;  accordingly,  the  nondefaulting  party, in addition to any
other available rights or remedies,  may sue in equity for specific  performance
without the necessity of posting a bond or other security,  and the parties each
expressly waive the defense that a remedy in damages will be adequate.

4.13.  RECOVERY OF LITIGATION  COSTS.  If any legal action or any arbitration or
other proceeding is brought for the enforcement of this Agreement, or because of
an alleged dispute,  breach, default or misrepresentation in connection with any
of the  provisions of this  Agreement,  the  successful  or prevailing  party or
parties shall be entitled to recover as an element of their damages,  reasonable
attorneys'  fees and other  costs  incurred  in that  action or  proceeding,  in
addition to any other relief to which they may be entitled.

4.14.  SURVIVAL  OF  REPRESENTATIONS  AND  OBLIGATIONS.   All   representations,
warranties and agreements of the parties contained in this Agreement,  or in any
instrument,  certificate,  opinion or other  writing  provided  for in it, shall
survive the dissolution of the Partnership.

4.15.  GENDER;  NUMBER.  Whenever the context of this  Agreement  requires,  the
masculine gender includes the feminine or neuter gender, and the singular number
includes the plural.

4.16.  GOVERNING  LAW.  This  Agreement shall be construed in  accordance  with,
and governed by, the laws of the State of California.

4.17.  VENUE.  This  Agreement is to be performed at Orange  County, California.
Therefore,  venue  for  any  action  brought  regarding  the  interpretation  or
enforcement  of  this  Agreement   shall  lie   exclusively  in  Orange  County,
California.

                                       11

<PAGE>

IN WITNESS WHEREOF, this Agreement is executed on the date first set forth above
at Orange County, California.

                                   COMPANY:

                                   Accesspoint Corporation, a Nevada corporation

                                   By: /s/ Al Urcuyo
                                   ---------------------------------------------
                                   Al Urcuyo,
                                   Office of the President

                                   EMPLOYEE:

                                   By: _________________________________________

                                   [Employee]

                                       12

<PAGE>

                                   SCHEDULE 1

NUMBER OF PREFERRED SHARES, SERIES A, CONDITIONALLY AWARDED:

(1)  After completion of a minimum of twelve (12) months of employment with PSI:
     [Number of Preferred Series A Shares] (X,XXX)

CONDITIONAL CONVERSION SCHEDULE:

The following  conversion  schedule shall outline various  business  development
goals  under the direct  influence  and  responsibility  of  Employee  and shall
require  achievement,  in  accordance  with the  terms  and  conditions  of this
Agreement, of those milestones outlined below.

Milestone 1.      The  Employee  shall have the right to  convert  [Number of
                  Preferred  Series A Shares]  (X,XXX) Class A Preferred  Shares
                  upon attaining the following  business  development  goals for
                  PSI:

                  (a) Employee shall be responsible  for account  administration
                  duties for Processing Source International, exercising all due
                  diligence and expertise in the discharge of the aforementioned
                  duties.

                  (b)  Employee   shall   perform   aforementioned   duties  and
                  responsibilities  sufficient  to  allow  PSI  to  achieve  its
                  estimated  twelve  month new account  and  revenue  projection
                  totals of a minimum of twenty  thousand  (20,000) new accounts
                  and  seventeen  million  four hundred  thousand  ($17,400,000)
                  dollars  in  gross   revenues.   Furthermore,   the   business
                  development  division  shall  continue  to  grow  its  book of
                  business  and the  underwriting  division  shall  maintain its
                  ability  to keep up with  account  services  for a  period  of
                  thirty (30) days after the  achievement of the above described
                  milestones.

                  The time attainment requirements for Employee's achievement of
                  the foregoing business  development goals and objectives shall
                  be twenty  four (24) months  from the  effective  date of this
                  Agreement.

                  ADDRESS OF EMPLOYEE FOR PURPOSE OF NOTICE AND OTHERWISE:

                  [Address of Employee]

                                       13THE SECURITIES  REPRESENTED BY THIS  CERTIFICATE  HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE  "SECURITIES  ACT"),  AND MAY NOT BE
OFFERED, SOLD OR OTHERWISE TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED UNLESS
AND UNTIL REGISTERED  UNDER THE SECURITIES ACT OR UNLESS AN EXEMPTION  THEREFROM
IS AVAILABLE.

                               WARRANT TO PURCHASE
                     COMMON STOCK OF ACCESSPOINT CORPORATION

         This  certifies  that  BELLADONNA  (the  "Holder"),  or its  registered
assigns,   for  value  received,   is  entitled  to  purchase  from  ACCESSPOINT
CORPORATION (the "Company") Two Hundred  Seventy-Five  Thousand (275,000) shares
of the  Company's  Common  Stock (the "Common  Stock") for a per share  exercise
price  equal to $ .34 (the  "Per  Share  Exercise  Price").  This  right  may be
exercised at any time from the date hereof up to and  including  5:00 p.m.  (New
York City time) on March 10, 2004 (the "Expiration Date"), upon surrender to the
Company at its  principal  office (or at such other  location as the Company may
advise the Holder in  writing)  of this  warrant,  properly  endorsed,  with the
Notice of Exercise  and  Subscription  Form  attached  hereto duly filled in and
signed,  if  applicable,  and upon  payment  in cash or  other  form of good and
immediately  available  funds  reasonably  satisfactory  to the  Company  of the
aggregate Per Share  Exercise Price for the full number of shares for which this
warrant is being exercised determined in accordance with the provisions hereof.

1.       ISSUANCE OF CERTIFICATES.

         Certificates  for the shares of Common Stock  acquired upon exercise of
this warrant, together with any other securities or property to which the Holder
is entitled upon such  exercise,  will be delivered to the Holder by the Company
at the Company's expense within a reasonable time after this warrant has been so
exercised and payment of the full Per Share Exercise Price has been delivered to
the Company as set forth above and such funds have been confirmed to the account
of the Company.

         Each stock  certificate so delivered will be in such  denominations  of
Common  Stock as may be requested  by the Holder and will be  registered  in the
name of the  Holder.  In case of a purchase of less than all the shares that may
be  purchased  under this  warrant,  the Company  will  cancel this  warrant and
execute  and  deliver a new warrant or warrants of like tenor for the balance of
the shares purchasable under this warrant to the Holder within a reasonable time
after surrender of this warrant.

2.       SHARES FULLY-PAID, NONASSESSABLE, ETC.

         All shares of Common Stock issued upon  exercise of this warrant  will,
upon issuance, be duly authorized,  validly issued, fully-paid and nonassessable
and free of all taxes, liens and charges with respect to the issue thereof.  The
Company will use reasonable commercial efforts to reserve and keep available out
of its authorized but unissued shares of Common Stock, solely for the purpose of
effecting  the  exercise  of this  warrant,  such number of its shares of Common
Stock as from time to time are  sufficient  to effect the full  exercise of this
warrant.  If at any time the number of authorized but unissued  shares of Common
Stock are not  sufficient  to effect the exercise of this  warrant,  the Company
will use reasonable  commercial efforts to take such corporate action as may, in
the opinion of its counsel,  be

                                       1

<PAGE>

reasonably  necessary to increase its authorized  but unissued  shares of Common
Stock to such number of shares as are sufficient for such purpose.

3.       NET ISSUE EXERCISE.
         Notwithstanding  any  provisions  herein to the  contrary,  if the fair
market value of one share of the Company's  Common Stock is greater than the Per
Share Exercise 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
canceled) by surrender of this warrant at the  principal  office of the Company,
together with the properly endorsed Notice of Exercise and Subscription Form and
notice of such  election,  in which event the Company will issue to the Holder a
number of shares of Common Stock computed using the following formula:

                  X = Y (A-B)
                      _______
                          A

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

                  Y =  the  number of shares of Common  Stock  purchasable under
this  warrant  or, if only a portion  of this  warrant is being  exercised,  the
portion of this warrant being canceled (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 =  Per Share Exercise Price (as adjusted to the date of such
calculation)

For purposes of the above calculation,  fair market value of one share of Common
Stock will be the average of the closing bid prices of the  Company's  shares of
Common Stock as quoted on the New York Stock  Exchange  (the "NYSE") (or on such
other United States stock  exchange or public trading market on which the shares
of the Company  trade if, at the time of the  election,  they are not trading on
the NYSE), for the five (5) consecutive  trading days immediately  preceding the
date of the date the  completed,  executed  Notice of Exercise and  Subscription
Form is received.

4.       ADJUSTMENTS.

         4.1 ADJUSTMENT FOR STOCK SPLITS AND COMBINATIONS. If the Company at any
time or from time to time during the term of this warrant  effects a subdivision
of the  outstanding  Common  Stock,  the Per  Share  Exercise  Price  in  effect
immediately   before  that  subdivision  will  be   proportionately   decreased.
Conversely,  if the  Company at any time or from time to time during the term of
this  warrant  combines  the  outstanding  shares of Common Stock into a smaller
number of shares,  the Per Share Exercise Price in effect immediately before the
combination will be proportionately increased. Any adjustment under this Section
4.1 will become  effective at the close of business on the date the  subdivision
or combination becomes effective.

         4.2 ADJUSTMENT FOR RECLASSIFICATION,  EXCHANGE AND SUBSTITUTION.  If at
any time or from time to time during the term of this  warrant the Common  Stock
issuable  upon  the  exercise  of this  warrant  is  changed  into the same or a
different  number  of  shares  of any class or  classes  of  stock,  whether  by

                                       2

<PAGE>

recapitalization,  reclassification or otherwise (other than a recapitalization,
subdivision, combination, reclassification or exchange provided for elsewhere in
this  Section 4), the Holder  will have the right  thereafter  to exercise  this
warrant  for the kind and  amount  of stock and other  securities  and  property
receivable  upon such  recapitalization,  reclassification  or other change into
which  the  shares  of Common  Stock  issuable  upon  exercise  of this  warrant
immediately  prior to such  recapitalization,  reclassification  or change could
have been  converted,  all subject to further  adjustment as provided  herein or
with respect to such other securities or property by the terms thereof.

         4.3  REORGANIZATIONS.  If at any time or from time to time  during  the
term of this  warrant  there is a capital  reorganization  of the  Common  Stock
(other than a recapitalization,  subdivision,  combination,  reclassification or
exchange  provided  for  elsewhere in this Section 4), as a part of such capital
reorganization,  provision  will be made so that the Holder will  thereafter  be
entitled to receive upon  exercise of this warrant the number of shares of stock
or other  securities  or property of the Company to which a holder of the number
of shares of Common Stock  deliverable  upon exercise of this warrant would have
been entitled on such  capitalization  reorganization,  subject to adjustment in
respect of such stock or securities by the terms thereof.

5.       REGISTRATION.

         5.1  PIGGY-BACK  REGISTRATIONS.  (a) If, at any time, the Company shall
determine  to register  for its own  account or the account of others  under the
Securities Act (including  pursuant a demand for registration of any stockholder
of the Company) any of its equity securities, other than on Form S-4 or Form S-8
or their then equivalents relating to shares of Common Stock to be issued solely
in connection with any acquisition of any entity or business or shares of Common
Stock issuable in connection with stock option or other employee  benefit plans,
it shall send to each Holder of the shares issued or issuable  written notice of
such  determination  and,  if within  fifteen  (15) days  after  receipt of such
notice,  such Holder of the Registrable Shares shall so request in writing,  the
Company shall use its best efforts to include in such registration statement all
or any part of the  Registrable  Shares such holder  requests to be  registered,
except that if; in connection  with the initial public  offering of the Company,
the managing  underwriter  shall impose a limitation  on the number of shares of
such Common Stock which may be included in the registration  statement  because,
in its  judgment,  such  limitation  is  necessary  to effect an orderly  public
distribution,   then  the  Company   shall  be  obligated  to  include  in  such
registration  statement only such limited portion of the Registrable Shares with
respect to which such holder has requested inclusion hereunder. Any exclusion of
Registrable Shares shall be made pro rata among the Holders of the Option Shares
(or their assigns who are entitled to and have requested registration under this
Section 5.1) seeking to include  Registrable Shares, in proportion to the number
of Registrable  Shares sought to be included by such Holders of the  Registrable
Shares (or their  assigns who are  entitled to and have  requested  registration
under this Section 5.1); PROVIDED,  HOWEVER,  that the Company shall not exclude
any  Registrable  Shares unless the Company has first  excluded all  outstanding
securities  the  holders  of which are not  entitled  by right to  inclusion  of
securities in such registration statement;  and PROVIDED FURTHER,  HOWEVER, that
any exclusion of Registrable Shares shall be made pro rata with holders of other
securities  having  the right to include  such  securities  in the  registration
statement.  The obligations of the Company to Holders of the Registrable  Shares
under this Section 5 may be waived by Holders of the  Registrable  Shares at any
time. For purposes of this warrant,  "Registrable Shares" shall mean such number
of shares of Common  Stock issued or issuable  upon  exercise of this warrant or
any other  shares of Common  Stock  acquired by the  Holders of the  warrants by
virtue of their ownership of such warrants.

                                       3

<PAGE>

         5.2  PROVISIONS APPLICABLE TO REGISTRATION.  The  following  provisions
shall apply,  as applicable,  in connection  with the Holders of the Registrable
Shares to be included in the registration statement pursuant to this Section 5:

                  (a) The  holders  of the  Registrable  Shares,  if  reasonably
requested  by the  Company  or by the  underwriter  with  respect  to any public
offering,  shall  agree not to sell,  make any short  sale of,  loan,  grant any
options for the  purchase  of, or otherwise  dispose of any  Registrable  Shares
(other  than those  included  in the  registration)  without  the prior  written
consent of the Company or such underwriters, as the case may be, for such period
of time (not to exceed one hundred  eighty (180) days),  from the effective date
of  such  registration  statement,  or  the  commencement  of the  offering,  as
applicable,  as may be requested by the  underwriters,  provided  that all other
holders  of the  class  of  securities  being  registered  shall  make  the same
agreements as those required to be made by the holders of the Registrable Shares
under this Section 5.2(a).

                  (b) The  holders  of the  Registrable  Shares  shall  promptly
provide the Company with such  non-confidential and non-proprietary  information
as it shall  reasonably  request  and that is  available  to the  holders of the
Registrable Shares in order to prepare the registration statement.

                  (c) The  Company  shall  be  responsible  for  reasonable  and
necessary expenses incurred by the Company in connection with the preparation of
the registration statement,  including, without limitation, the Company's legal,
accounting and filing fees, but not including fees and  disbursements of experts
and counsel  retained by the holders of the  Registrable  Shares or underwriting
discounts and commissions to be paid by the holders of the Registrable Shares.

                  (d)      INDEMNIFICATION.

                  (i) In the event of a  registration  or  qualification  of any
Registrable  Shares under the  Securities Act pursuant to the provisions of this
Section 5, the Company  shall  indemnify  and hold  harmless  the holders of the
Registrable Shares, the officers and directors of the holders of the Registrable
Shares and each  officer and  director of any person or entity who  controls the
holders of the Registrable  Shares,  each underwriter of such Registrable Shares
and each other  person or entity who  controls  the  holders of the  Registrable
Shares  or  such   underwriter   within  the  meaning  of  the   Securities  Act
(collectively, the "Indemnitees"),  from and against any and all losses, claims,
damages or liabilities, joint or several, to which any of the Indemnitees, joint
or  several,  may become  subject  under the  Securities  Act or the  applicable
securities  laws or  otherwise,  insofar  as such  losses,  claims,  damages  or
liabilities  (or actions in respect  thereof) arise out of or are based upon (x)
any untrue  statement or alleged untrue statement of any material fact contained
in  any  registration   statement  under  which  such  Registrable  Shares  were
registered or qualified under the Securities Act, or any amendment or supplement
thereto,  any preliminary  prospectus or final prospectus  contained therein, or
any supplement thereto, or any document prepared and/or furnished to the holders
of the Registrable  Shares incident to the  registration or qualification of any
Registrable Shares,  attributable to or originating from the Company, or (y) the
omission or alleged omission to state in any  registration  statement a material
fact required to be stated therein or necessary to make the  statements  therein
not  misleading  or,  with  respect  to any  prospectus,  necessary  to make the
statements  therein,  in light of the circumstances  under which they were made,
not  misleading,  and for which the Company is or was  responsible,  and in each
case shall reimburse the Indemnitees for any legal or other expenses  reasonably
incurred by such  Indemnitees in connection with  investigating or defending any

                                       4

<PAGE>

such  loss,  claim,   damage  or  liability  (or  action  in  respect  thereof).
Notwithstanding the foregoing,  the Company shall not be liable in any such case
to the  extent  that any such loss,  claim,  damage or  liability  (or action in
respect  thereof) arises out of or is based upon an untrue  statement or alleged
untrue  statement  or omission  or alleged  omission  made in such  registration
statement in reliance upon and in conformity with  information  furnished to the
Company by such Indemnitees; and provided further, that the Company shall not be
liable in any such  case to the  extent  that any such  loss,  claim,  damage or
liability  (or  action in  respect  thereof)  arises  out of or is based upon an
untrue  statement or alleged untrue statement or omission or alleged omission in
such registration statement,  which untrue statement or alleged untrue statement
or omission or alleged  omission is  completely  corrected  in an  amendment  or
supplement to the registration statement.

                  (ii) In the event of the  registration or qualification of any
Registrable  Shares under the  Securities Act pursuant to the provisions of this
Section 4, the holders of the Registrable Shares severally and not jointly shall
indemnify  and hold  harmless the Company,  each person who controls the Company
within the meaning of the  Securities  Act,  each  officer  and  director of the
Company and any other  selling  holder,  each  underwriter  of such  Registrable
Shares  and each  other  person  or  entity  who  controls  the  holders  of the
Registrable  Shares or such underwriter within the meaning of the Securities Act
(collectively, the "Indemnitees"),  from and against any and all losses, claims,
damages or liabilities to which any of the  Indemnitess,  joint or several,  may
become subject under the Securities  Act or the  applicable  securities  laws or
otherwise, insofar as such losses, claims, damages or liabilities (or actions in
respect  thereof)  arise out of or are based  upon (x) any untrue  statement  or
alleged  untrue  statement of any material  fact  contained in any  registration
statement under which such Registrable Shares were registered or qualified under
the  Securities  Act, or any amendment or supplement  thereto,  any  preliminary
prospectus or final prospectus  contained therein, or any supplement thereto, or
any  document   prepared  and/or  furnished  to  the  Company  incident  to  the
registration  or  qualification  of any Registrable  Shares,  attributable to or
originating from the holders of the Registrable  Shares,  or (y) the omission or
alleged  omission to state therein a material fact required to be stated therein
or  necessary  to make the  statements  therein  not  misleading,  which  untrue
statement or alleged untrue  statement or omission or alleged  omission was made
therein in reliance upon and in conformity with written information furnished to
the Company by the holders of the Registrable Shares or for which the holders of
the Registrable Shares is or were otherwise responsible,  and in each case shall
reimburse the Indemnitees for any legal or other expenses reasonably incurred by
them in connection with investigating or defending any such loss, claim,  damage
or liability (or action in respect thereof).

6.       TAXES.

         The Company  shall not become  obligated  for or pay any taxes  imposed
upon the  Holders by reason of the  issuance  of this  warrant  or the  exercise
hereof or otherwise in  connection  with the shares of Common Stock to be issued
upon exercise of this warrant.  Notwithstanding  the foregoing,  the Company may
withhold  from any shares of Common  Stock to be issued  upon  exercise  of this
warrant  such  amounts  as may be  reasonably  required  to  satisfy  any backup
withholding  or other  withholding  obligation of the Company with regard to the
issuance of this warrant or the exercise  hereof or otherwise in connection with
the shares of Common Stock to be issued upon exercise of this warrant.

7.       NO VOTING OR DIVIDEND RIGHTS; LIMITATION OF LIABILITY.

         Nothing  contained in this warrant will be construed as conferring upon
the Holder the right to vote or to consent or to receive notice as a shareholder
of the Company or any other matters or any rights

                                       5

<PAGE>

whatsoever  as a  shareholder  of the Company.  No dividends or interest will be
payable or accrued in respect of this warrant or the interest represented hereby
or the shares  purchasable  hereunder  until,  and only to the extent that, this
warrant has been exercised.

8.       WARRANTS TRANSFERABLE.

         Subject to compliance with applicable Federal and state securities laws
and the restrictions  imposed by any other written  agreement between the Holder
and the Company,  this warrant and all rights  hereunder  are  transferable,  in
whole or in part, without charge to the Holder (except for transfer taxes), upon
surrender  of  this  warrant  properly  endorsed  and  in  compliance  with  the
provisions of this warrant.

9.       MODIFICATION AND WAIVER.

         This  warrant  and  any  provision  hereof  may  be  changed,   waived,
discharged  or terminated  only by an instrument in writing  signed by the party
against which enforcement of the same is sought.

10.      NOTICES.

         Any  notice  required  by the  provisions  of this  warrant  will be in
writing and will be deemed  effectively given: (a) upon personal delivery to the
party to be  notified;  (b) when sent by  confirmed  telex or  facsimile if sent
during normal business hours of the recipient; if not, then on the next business
day; (c) five (5) days after having been sent by registered  or certified  mail,
return receipt requested, postage prepaid; or (d) one (1) day after deposit with
a nationally  recognized overnight courier,  specifying next day delivery,  with
written  verification of receipt. All notices will be addressed to the Holder at
the address of the Holder appearing on the books of the Company.

11.      LOST WARRANTS.

         Upon receipt of evidence reasonably  satisfactory to the Company of the
loss, theft, destruction,  or mutilation of this warrant, and upon receipt of an
indemnity,  surety,  undertaking  or  security  reasonably  satisfactory  to the
Company (and in the case of any such mutilation upon surrender and  cancellation
of the original  mutilated  warrant),  the Company  shall,  in  accordance  with
applicable  law, make and deliver a new warrant,  of like tenor,  in lieu of the
lost, stolen,  destroyed or mutilated  warrant.  The Company may, as a condition
precedent to making or  delivering a new  warrant,  reasonably  require that the
Holder make and deliver to the Company an  affidavit or  declaration  made under
penalty of perjury,  as to the loss, theft,  destruction,  or mutilation of this
warrant.

12.      FRACTIONAL SHARES.

         No  fractional  shares of Common Stock will be issued upon  exercise of
this warrant.  If the conversion  would result in the issuance of any fractional
share, the Company may, in lieu of issuing any fractional  share, pay cash equal
to the  product of such  fraction  multiplied  by the  closing  bid price of the
Company's Common Stock on the date of conversion.

                                       6

<PAGE>

13.      GOVERNING LAW; VENUE.

         This warrant will be construed and enforced in accordance with, and the
rights of the parties will be governed  by, the laws of the State of  California
without  regard to conflict of laws  principles.  Venue in any action arising by
reason of this warrant shall lie exclusively in Orange County, California.

14.      JURISDICTION

                  Each  party  hereby  irrevocably   submits  to  the  exclusive
jurisdiction  and venue of the Superior Court of Orange County,  California,  in
any action, suit or proceeding arising out of or relating to this warrant or any
of the transactions  contemplated  hereby, and agrees that any such action, suit
or proceeding shall be brought only in such court. Each party hereby irrevocably
waives, to the fullest extent permitted by law, any objection that it may now or
hereafter have to the laying of the venue of any such action, suit or proceeding
brought in such a court and any claim that any such action,  suit or  proceeding
brought in such a court has been brought in an inconvenient forum.

                                       7

<PAGE>

         This warrant is made effective as of this 19th day of March, 1999.

                                        ACCESSPOINT CORPORATION

                                        By: /s/ TOM M. DJOKOVICH
                                        ----------------------------------------
                                        Tom M. Djokovich,
                                        Chief Executive Officer

                                        BELLADONNA

                                        By: /s/ JACK W. FLADER, JR.
                                        ----------------------------------------
                                        Jack W. Flader, Jr.,
                                        Authorized Signatory

                                       8

<PAGE>

                              EXHIBIT A TO WARRANT
                                SUBSCRIPTION FORM
                                       AND
                               NOTICE OF EXERCISE

Date: July 16, 2001

Accesspoint Corporation

Attn: President

Ladies and Gentlemen:

         The undersigned ("Holder") hereby elects to exercise the warrant issued
to it by Accesspoint  Corporation (the "Company") dated as of March 19, 1999 and
to purchase thereunder Two Hundred One Thouusand Two Hundred Sixty Two (201,262)
shares of the  Common  Stock of the  Company at a  purchase  price of  net-issue
exercise   ($0.34)   per   Share,   for   an   aggregate   purchase   price   of
_____________________ ($___________) (the "Purchase Price").

Pursuant to the terms of the warrant the  undersigned has delivered the Purchase
Price herewith in full in cash or other form of good and  immediately  available
funds reasonably satisfactory to the Company.  Exercise of the warrant shall not
be deemed effective unless and until good and immediately available funds in the
full  amount of the  Purchase  Price have been  confirmed  in the account of the
Company.

         The original warrant shall be presented with this Subscription Form and
Notice of Exercise.

         The Company may, in its  discretion,  withhold a portion of some or all
of the  exercised  shares or other  amounts  for the  payment  of taxes or other
items.  Holder  represents that Holder is not subject to any backup  withholding
requirements. Holder acknowledges that the shares of stock of the Company issued
upon  exercise  will not be entitled to any  dividend  declared  upon such stock
prior to the effective date of exercise of the warrant.

         Holder hereby constitutes this Subscription Form and Notice of Exercise
as an assignment,  deposit  tender,  and transfer in blank of the warrant as set
forth therein.  Holder hereby irrevocably constitutes and appoints the secretary
of the Company as Holder's attorney in fact to issue shares upon the exercise of
the warrant and reflect the same on the books and records of the Company, cancel
the warrant,  issue a new warrant, if applicable,  and perform any necessary act
on behalf of Holder, with full power substitution.

                               Very truly yours,

                               By: /s/ JACK W. FLADER, JR.
                               -----------------------------------------
                               Jack W. Flader, Jr.
                               Authorized Signatory

                                       9

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