Document:

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                                                                     EXHIBIT 4.2

THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF THIS
WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED
OR EXERCISED UNLESS AND UNTIL SUCH WARRANT AND/OR SHARES OF COMMON STOCK IS
REGISTERED UNDER SUCH ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY
IS OBTAINED TO THE EFFECT THAT SUCH REGISTRATION IS NOT REQUIRED. THIS WARRANT
AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT ARE
SUBJECT TO THE RESTRICTIONS ON TRANSFER SET FORTH IN SECTIONS 4 AND 10 OF THIS
WARRANT.

Warrant No. _______                                Number of Units: ________
                                                   (Common Stock and Warrants)

Date of Issuance:  June 5, 2001

                          IRVINE SENSORS CORPORATION
            Warrant to Purchase Units of Common Stock and Warrants
                            (Void after Five Years)

     Irvine Sensors Corporation, a Delaware corporation (the "Company"), for
value received, hereby certifies that _____________., or its registered assigns
(the "Registered Holder"), is entitled, subject to the terms and conditions set
forth below, to purchase from the Company, at any time or from time to time on
or after June 5, 2002 and on or before 5:00 p.m. (Eastern time) on June 5, 2006,
________ units ("Units"), each unit consisting of one share of Common Stock of
the Company and one warrant to purchase one additional share of Common Stock.
The exercise price per Unit is $1.35 per share. The warrant underlying the Unit
will be identical in

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substance to the warrants issued to investors purchasing securities pursuant to
the Company's Prospectus dated May 4, 2001, as supplemented on June 5, 2001. The
shares of Common Stock purchasable upon exercise of this Warrant, the underlying
warrants and the purchase price per Unit, each as adjusted from time to time
pursuant to the provisions of this Warrant, are hereinafter referred to as the
"Warrant Shares," the "Underlying Warrants" and the "Purchase Price,"
respectively.

1.   Exercise.

          (a) This Warrant may be exercised by the Registered Holder, in whole
or in part, by surrendering this Warrant, with the purchase form appended hereto
as Exhibit I duly executed by the Registered Holder or by the Registered
Holder's duly authorized attorney, at the principal office of the Company, or at
such other office or agency as the Company may designate, accompanied by payment
in full, in lawful money of the United States, of the Purchase Price payable in
respect of the number of Units purchased upon such exercise.

          (b) Each exercise of this Warrant shall be deemed to have been
effected immediately prior to the close of business on the day on which this
Warrant shall have been surrendered to the Company as provided in subsection
1(a) above accompanied by payment in full of the Purchase Price (the "Exercise
Date"). At such time, the person or persons in whose name or names any
certificates for Warrant Shares or Underlying Warrants shall be issuable upon
such exercise as provided in subsection 1(c) below shall be deemed to have
become the holder or holders of record of the Warrant Shares or Underlying
Warrants represented by such certificates.

          (c) As soon as practicable after the exercise of this Warrant in full
or in part, and in any event within 5 business days thereafter, the Company, at
its expense, will cause to be issued in the name of, and delivered to, the
Registered Holder, or as such Holder (upon payment by such Holder of any
applicable transfer taxes) may direct:

               (i)  a certificate or certificates for the number of full Warrant
          Shares and Underlying Warrants to which the Registered Holder shall be
          entitled upon such exercise plus, in lieu of any fractional share to
          which the Registered Holder would otherwise be entitled, cash in an
          amount determined pursuant to Section 3 hereof; and

               (ii) in case such exercise is in part only, a new warrant or
          warrants (dated the date hereof) of like tenor, calling in the
          aggregate on the face or faces thereof for the number of remaining
          Units.

2.   Adjustments.

     (a)  Adjustment for Stock Splits and Combinations. If the Company shall at
any time or from time to time after the date on which this Warrant was first
issued (the "Original Issue Date") effect a subdivision of the outstanding
Common Stock, the Purchase Price then in effect

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immediately before that subdivision shall be proportionately decreased. If the
Company shall at any time or from time to time after the Original Issue Date
combine the outstanding shares of Common Stock, the Purchase Price then in
effect immediately before the combination shall be proportionately increased.
Any adjustment under this paragraph shall become effective at the close of
business on the date the subdivision or combination becomes effective.

     (b) Adjustment for Certain Dividends and Distributions. In the event the
Company at any time, or from time to time after the Original Issue Date shall
make or issue, or fix a record date for the determination of holders of Common
Stock entitled to receive, a dividend or other distribution payable in
additional shares of Common Stock, then and in each such event the Purchase
Price then in effect immediately before such event shall be decreased as of the
time of such issuance or, in the event such a record date shall have been fixed,
as of the close of business on such record date, by multiplying the Purchase
Price then in effect by a fraction:

               (1) the numerator of which shall be the total number of shares of
     Common Stock issued and outstanding immediately prior to the time of such
     issuance or the close of business on such record date, and

               (2) the denominator of which shall be the total number of shares
     of Common Stock issued and outstanding immediately prior to the time of
     such issuance or the close of business on such record date plus the number
     of shares of Common Stock issuable in payment of such dividend or
     distribution;

provided, however, if such record date shall have been fixed and such dividend
is not fully paid or if such distribution is not fully made on the date fixed
therefor, the Purchase Price shall be recomputed accordingly as of the close of
business on such record date and thereafter the Purchase Price shall be adjusted
pursuant to this paragraph as of the time of actual payment of such dividends or
distributions.

     (c) Adjustment in Number of Warrant Shares and Underlying Warrants. When
any adjustment is required to be made in the Purchase Price pursuant to
subsections 2(a) or 2(b), the number of Units purchasable upon the exercise of
this Warrant shall be changed to the number determined by dividing (i) an amount
equal to the number of units issuable upon the exercise of this Warrant
immediately prior to such adjustment, multiplied by the Purchase Price in effect
immediately prior to such adjustment, by (ii) the Purchase Price in effect
immediately after such adjustment.

     (d) Adjustments for Other Dividends and Distributions. In the event the
Company at any time or from time to time after the Original Issue Date shall
make or issue, or fix a record date for the determination of holders of Common
Stock entitled to receive, a dividend or other distribution payable in
securities of the Company (other than shares of Common Stock) or in cash or
other property (other than cash out of earnings or earned surplus, determined in
accordance with generally accepted accounting principles), then and in each such
event provision shall be made so that the Registered Holder shall receive upon
exercise hereof, in addition to the number of shares of Common Stock issuable
hereunder, the kind and amount of securities of the Company and/or cash and
other property which the Registered Holder would have been entitled to receive
had this Warrant been exercised into Common Stock on the date of such event and
had

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the Registered Holder thereafter, during the period from the date of such event
to and including the Exercise Date, retained any such securities receivable,
giving application to all adjustments called for during such period under this
Section 2 with respect to the rights of the Registered Holder.

     (e) Adjustment for Mergers or Reorganizations, etc. If there shall occur
any reorganization, recapitalization, consolidation or merger involving the
Company in which the Common Stock is converted into or exchanged for securities,
cash or other property (other than a transaction covered by subsections 2(a),
2(b) or 2(d)), then, following any such reorganization, recapitalization,
consolidation or merger, the Registered Holder shall receive upon exercise
hereof the kind and amount of securities, cash or other property which the
Registered Holder would have been entitled to receive if, immediately prior to
such reorganization, recapitalization, consolidation or merger, the Registered
Holder had held the number of shares of Common Stock subject to this Warrant.
Notwithstanding the foregoing sentence, if (x) there shall occur any
reorganization, recapitalization, consolidation or merger involving the Company
in which the Common Stock is converted into or exchanged for anything other than
solely equity securities, and (y) the common stock of the acquiring or surviving
company is publicly traded, then, as part of any such reorganization,
recapitalization, consolidation or merger, (i) the Registered Holder shall have
the right thereafter to receive upon the exercise hereof such number of shares
of common stock of the acquiring or surviving company as is determined by
multiplying (A) the number of shares of Common Stock then subject to this
Warrant by (B) a fraction, the numerator of which is the Fair Market Value per
share of Common Stock as of the effective date of such transaction, and the
denominator of which is the fair market value per share of common stock of the
acquiring or surviving company as of the effective date of such transaction, as
determined in good faith by the Board of Directors of the Company, and (ii) the
exercise price per share of common stock of the acquiring or surviving company
shall be the Purchase Price divided by the fraction referred to in clause (B)
above. In any such case, appropriate adjustment (as determined in good faith by
the Board of Directors of the Company) shall be made in the application of the
provisions set forth herein with respect to the rights and interests thereafter
of the Registered Holder, to the end that the provisions set forth in this
Section 2 (including provisions with respect to changes in and other adjustments
of the Purchase Price) shall thereafter be applicable, as nearly as reasonably
may be, in relation to any securities, cash or other property thereafter
deliverable upon the exercise of this Warrant.

     The Fair Market Value per share of Common Stock shall be determined as
follows:

          (i) If the Common Stock is listed on a national securities exchange,
the Nasdaq Stock Market or another nationally recognized trading system
(including, without limitation, the OTC Bulletin Board and, if the average daily
trading volume for the preceding 10 days has been at least 100,000 shares, the
Pink Sheets) as of the Exercise Date, the Fair Market Value per share of Common
Stock shall be deemed to be the average of the high and low reported sale prices
per share of Common Stock thereon on the trading day immediately preceding the
effective date of the transaction (provided that if no such price is reported on
such day, the Fair Market Value per share of Common Stock shall be determined
pursuant to clause (ii)).

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          (ii) If the Common Stock is not listed on a national securities
exchange, the Nasdaq Stock Market or another nationally recognized trading
system, the Fair Market Value per share of Common Stock shall be deemed to be
the amount most recently determined by the Board of Directors to represent the
fair market value per share of the Common Stock.

     (f) Certificate as to Adjustments. Upon the occurrence of each adjustment
or readjustment of the Purchase Price pursuant to this Section 2, the Company at
its expense shall promptly compute such adjustment or readjustment in accordance
with the terms hereof and furnish to the Registered Holder a certificate setting
forth such adjustment or readjustment (including the kind and amount of
securities, cash or other property for which this Warrant shall be exercisable
and the Purchase Price) and showing in detail the facts upon which such
adjustment or readjustment is based. The Company shall, upon the written request
at any time of the Registered Holder, furnish or cause to be furnished to the
Registered Holder a certificate setting forth (i) the Purchase Price then in
effect and (ii) the number of shares of Common Stock and the amount, if any, of
other securities, cash or property which then would be received upon the
exercise of this Warrant.

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3.   Fractional Shares.

     The Company shall not be required upon the exercise of this Warrant to
issue any fractional shares, but shall make an adjustment therefor in cash on
the basis of the Fair Market Value per share of Common Stock, as determined
pursuant to the following.

     (a)  If the Common Stock is listed on a national securities exchange, the
Nasdaq Stock Market or another nationally recognized trading system (including,
without limitation, the OTC Bulletin Board and, if the average daily trading
volume for the preceding 10 days has been at least 100,000 shares, the Pink
Sheets) as of the Exercise Date, the Fair Market Value per share of Common Stock
shall be deemed to be the average of the high and low reported sale prices per
share of Common Stock thereon on the trading day immediately preceding the
Exercise Date (provided that if no such price is reported on such day, the Fair
Market Value per share of Common Stock shall be determined pursuant to clause
(b)).

     (b)  If the Common Stock is not listed on a national securities exchange,
the Nasdaq Stock Market or another nationally recognized trading system as of
the Exercise Date, the Fair Market Value per share of Common Stock shall be
deemed to be the amount most recently determined by the Board of Directors to
represent the fair market value per share of the Common Stock (including without
limitation a determination for purposes of granting Common Stock options or
issuing Common Stock under an employee benefit plan of the Company).

4.   Requirements for Transfer.

     (a) This Warrant and the Warrant Shares and Underlying Warrants shall not
be sold or transferred unless either (i) they first shall have been registered
under the Securities Act of 1933, as amended (the "Act"), or (ii) the Company
first shall have been furnished with an opinion of legal counsel, reasonably
satisfactory to the Company, to the effect that such sale or transfer is exempt
from the registration requirements of the Act.

     (b) Notwithstanding the foregoing, no registration or opinion of counsel
shall be required for (i) a transfer by a Registered Holder which is a
corporation to a wholly owned subsidiary of such corporation, a transfer by a
Registered Holder which is a partnership to a partner of such partnership or a
retired partner of such partnership or to the estate of any such partner or
retired partner, a transfer by a Registered Holder which is a limited liability
company to a member of such limited liability company or a retired member or to
the estate of any such member or retired member, or a transfer by a Registered
Holder which is a member of the National Association of Securities Dealers (the
"NASD") to an officer or employee of the Registered Holder as permitted by NASD
rules, provided that the transferee in each case agrees in writing to be subject
to the terms of this Section 4, or (ii) a transfer made in accordance with Rule
144 under the Act.

     (c) Each certificate representing Warrant Shares and Underlying Warrants
shall bear a legend substantially in the following form:

     "The securities represented by this certificate have not been registered
     under the Securities Act of 1933, as amended, and may not be offered, sold
     or otherwise

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     transferred, pledged or hypothecated unless and until such securities are
     registered under such Act or an opinion of counsel satisfactory to the
     Company is obtained to the effect that such registration is not required."

The foregoing legend shall be removed from the certificates representing any
Warrant Shares or shares issued upon exercise of the Underlying Warrants, at the
request of the holder thereof, at such time as they become eligible for resale
pursuant to Rule 144(k) under the Act.

     (d) With respect to the Warrant Shares and the shares issuable upon
exercise of the Underlying Warrants (but not the Underlying Warrants), the
Registered Holder shall have one "demand" registration right, under which it
shall have the right, at any time that the Company is eligible to use Form S-3
for resales by selling stockholders, to request that the Company effect such
registration as soon as practicable following the notice of such demand. This
demand right shall remain in effect until the June 5, 2006. The Registered
Holder shall also have unlimited "piggyback" registration rights to request that
the Warrant Shares and the shares issuable upon exercise of the Underlying
Warrants (but not the Underlying Warrants) be registered for resale on any
registration statement which the Company files for any purpose on a form
available for such registration by selling stockholders after the Original Issue
Date. Such registration shall be subject to customary obligations by the
Registered Holder to provide information to the Company and by the Company to
indemnify the Registered Holder against Securities Act liabilities, and shall be
subject to customary underwriter cutbacks as a result of market conditions,
provided that all requesting selling stockholders are treated on a pro rata
allocation basis as determined by the number of securities requested to be
included in the registration statement subject to the cutback.

5.   No Impairment.

     The Company will not, by amendment of its charter or through any
reorganization, transfer of assets, consolidation, merger, dissolution, issue or
sale of securities or any other voluntary action, avoid or seek to avoid the
observance or performance of any of the terms of this Warrant, but will at all
times in good faith assist in the carrying out of all such terms and in the
taking of all such action as may be necessary or appropriate in order to protect
the rights of the holder of this Warrant against impairment.

6.   Notices of Record Date, etc.

     In the event:

     (a) the Company shall take a record of the holders of its Common Stock (or
other stock or securities at the time deliverable upon the exercise of this
Warrant) for the purpose of entitling or enabling them to receive any dividend
or other distribution, or to receive any right to subscribe for or purchase any
shares of stock of any class or any other securities, or to receive any other
right; or of any capital reorganization of the Company, any reclassification of
the Common Stock of the Company, any consolidation or merger of the Company with
or into another corporation (other than a consolidation or merger in which the
Company is the surviving entity and its Common Stock is not converted into or
exchanged for any other securities or property), or any transfer of all or
substantially all of the assets of the Company; or

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

then, and in each such case, the Company will mail or cause to be mailed to the
Registered Holder a notice specifying, as the case may be, (i) the record date
for such dividend, distribution or right, and the amount and character of such
dividend, distribution or right, or (ii) the effective date on which such
reorganization, reclassification, consolidation, merger, transfer, dissolution,
liquidation or winding-up is to take place, and the time, if any is to be fixed,
as of which the holders of record of Common Stock (or such other stock or
securities at the time deliverable upon the exercise of this Warrant) shall be
entitled to exchange their shares of Common Stock (or such other stock or
securities) for securities or other property deliverable upon such
reorganization, reclassification, consolidation, merger, transfer, dissolution,
liquidation or winding-up. Such notice shall be mailed at least ten days prior
to the record date or effective date for the event specified in such notice.

7.   Reservation of Stock.

     The Company will at all times reserve and keep available, solely for
issuance and delivery upon the exercise of this Warrant, such number of shares
of Common Stock and other securities, cash and/or property, as from time to time
shall be issuable upon the exercise of this Warrant.

8.   Exchange of Warrants.

     Upon the surrender by the Registered Holder, properly endorsed, to the
Company at the principal office of the Company, the Company will, subject to the
provisions of Section 4 hereof, issue and deliver to or upon the order of such
Holder, at the Company's expense, a new Warrant or Warrants of like tenor, in
the name of the Registered Holder or as the Registered Holder (upon payment by
the Registered Holder of any applicable transfer taxes) may direct, calling in
the aggregate on the face or faces thereof for the number of shares of Common
Stock (or other securities, cash and/or property) then issuable upon exercise of
this Warrant.

9.   Replacement of Warrants.

     Upon receipt of evidence reasonably satisfactory to the Company of the
loss, theft, destruction or mutilation of this Warrant and (in the case of loss,
theft or destruction) upon delivery of an indemnity agreement (with surety if
reasonably required) in an amount reasonably satisfactory to the Company, or (in
the case of mutilation) upon surrender and cancellation of this Warrant, the
Company will issue, in lieu thereof, a new Warrant of like tenor.

10.  Transfers, etc.

     (a) The Company will maintain a register containing the name and address of
the Registered Holder of this Warrant. The Registered Holder may change its or
his address as shown on the warrant register by written notice to the Company
requesting such change.

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     (b)  Subject to the provisions of Section 4 hereof, this Warrant and all
rights hereunder are transferable, in whole or in part, upon surrender of this
Warrant with a properly executed assignment (in the form of Exhibit II hereto)
at the principal office of the Company.

     (c)  Until any transfer of this Warrant is made in the warrant register,
the Company may treat the Registered Holder as the absolute owner hereof for all
purposes; provided, however, that if and when this Warrant is properly assigned
in blank, the Company may (but shall not be obligated to) treat the bearer
hereof as the absolute owner hereof for all purposes, notwithstanding any notice
to the contrary.

11.  Representations of the Registered Holder.

     The Registered Holder of this Warrant represents and warrants to the
Company as follows:

     (a)  Investment. The Registered Holder is acquiring this Warrant and the
Warrant Shares and Underlying Warrants issuable upon the exercise of this
Warrant, for its own account for investment and not with a view to, or for sale
in connection with, any distribution thereof, nor with any present intention of
distributing or selling the same, except as otherwise may be permitted under
applicable securities laws.

     (b)  Authority. The Registered Holder has full power and authority to
enter into and to perform this Warrant in accordance with its terms. The
Registered Holder has not been organized specifically for the purpose of
investing in the Company.

     (c)  Accredited Investor. The Registered Holder is an Accredited Investor
within the definition set forth in Rule 501(a) promulgated under the Securities
Act.

12.  Mailing of Notices, etc.

     All notices and other communications from the Company to the Registered
Holder shall be mailed by first-class certified or registered mail, postage
prepaid, to the address last furnished to the Company in writing by the
Registered Holder. All notices and other communications from the Registered
Holder or in connection herewith to the Company shall be mailed by first-class
certified or registered mail, postage prepaid, to the Company at its principal
office set forth below. If the Company should at any time change the location of
its principal office to a place other than as set forth below, it shall give
prompt written notice to the Registered Holder and thereafter all references in
this Warrant to the location of its principal office at the particular time
shall be as so specified in such notice.

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13.  No Rights as Stockholder.

     Until the exercise of this Warrant, the Registered Holder shall not have or
exercise any rights by virtue hereof as a stockholder of the Company.
Notwithstanding the foregoing, in the event (i) the Company effects a split of
the Common Stock by means of a stock dividend and the Purchase Price of and the
number of Units are adjusted as of the date of the distribution of the dividend
(rather than as of the record date for such dividend), and (ii) the Registered
Holder exercises this Warrant between the record date and the distribution date
for such stock dividend, the Registered Holder shall be entitled to receive, on
the distribution date, the stock dividend with respect to the shares of Common
Stock acquired upon such exercise, notwithstanding the fact that such shares
were not outstanding as of the close of business on the record date for such
stock dividend.

14.  Change or Waiver.

     Any term of this Warrant may be changed or waived only by an instrument in
writing signed by the party against which enforcement of the change or waiver is
sought.

15.  Section Headings.

     The section headings in this Warrant are for the convenience of the parties
and in no way alter, modify, amend, limit or restrict the contractual
obligations of the parties.

16.  Governing Law.

     This Warrant will be governed by and construed in accordance with the
internal laws of the State of California (without reference to the conflicts of
law provisions thereof).

     EXECUTED as of the Date of Issuance indicated above.

                                                IRVINE SENSORS CORPORATION

                                                By: _________________________

                                                Title: ______________________

                                       10EXHIBIT C

                        REGISTRATION RIGHTS AGREEMENT

     THIS REGISTRATION RIGHTS AGREEMENT, dated the 30th day of May, 2001,
between PACIFIC FIRST NATIONAL, INC., TST CORPORATION, AMCAN SERVICES, INC.
and STATE MANAGEMENT ASSOCIATES, L.C. (referred to as the "Investors"),
COLUMBIA FINANCIAL GROUP, INC. (the "Placement Agent") and Pacific WebWorks,
Inc., a corporation incorporated under the laws of the State of Nevada, and
having its principle place of business at 180 South 300 West, Suite 400, Salt
Lake City, Utah 84111 (the "Company").

          WHEREAS, simultaneously with the execution and delivery of this
Agreement and from time to time thereafter, the Investors are purchasing from
the Company, pursuant to the Unit Purchase Agreement dated the date hereof
(the "Purchase Agreement"), shares of Common Stock and Warrants (hereinafter
collectively referred to as the "Securities" of the Company);  All capitalized
terms not hereinafter defined shall have that meaning assigned to them in the
Purchase Agreement; and

          WHEREAS, prior to the execution and delivery of this Agreement, the
Company has issued Warrants to Columbia, in return for services rendered, from
time to time as provided in a separate Consulting Agreement dated April 25,
2001 (the "Consulting Agreement"); and

      WHEREAS, the Company desires to grant to the Holders the registration
rights set forth herein.

      NOW, THEREFORE, the parties hereto mutually agree as follows:

      Section 1. Registrable Securities.  As used herein the term "Registrable
Security" means the Common Stock of the Company issued under the Purchase
Agreement or as the result of the execution of warrants issued under that
Agreement or the Consulting Agreement; provided, however, that with respect to
any particular Registrable Security, such security shall cease to be a
Registrable Security when, as of the date of determination, (i) it has been
effectively registered under the Securities Act of 1933, as amended (the "1933
Act") and disposed of pursuant thereto, (ii) registration under the 1933 Act
is no longer required for the immediate public distribution of such security
as a result of the provisions of Rule 144 promulgated under the 1933 Act, or
(iii) it has ceased to be outstanding.  The term "Registrable Securities"
means any and/or all of the securities falling within the foregoing definition
of a Registrable Security.  In the event of any merger, reorganization,
consolidation, recapitalization or other change in corporate structure
affecting the Common Stock, such adjustment shall be made in the definition of
Registrable Security as is appropriate in order to prevent any dilution or
enlargement of the rights granted pursuant to this Section.

      Section 2.  Restrictions on Transfer.  The Holders acknowledge and
understand that prior to the registration of the Registrable Securities

<PAGE>

as provided herein, the Registrable Securities and the Securities are
"restricted securities" as defined in Rule 144 promulgated under the Act.  The
Holders understand that no disposition or transfer of the Registrable
Securities or the Securities may be made by the Holders in the absence of (i)
an opinion of counsel to the Holders that such transfer may be made without
registration under the 1933 Act, or (ii) such registration.

      Section 3.  Registration Rights.
                  -------------------

            (a)     The Company agrees that it will prepare and file with the
Securities and Exchange Commission ("SEC"), on or prior to June 25, 2001, a
registration statement (on Form SB-2, or other appropriate registration
statement) under the 1933 Act (the "Registration Statement"), at the sole
expense of the Company (except as provided in Section 3(c) hereof), in respect
of all holders of Registrable Securities, so as to permit a public offering
and sale of the Registrable Securities under the Act.  The Company shall use
its best efforts to cause the Registration Statement to become effective on or
before August 31, 2001.  The number of shares of Common Stock designated in
the Registration Statement to be registered shall be not less than (i) 100% of
the number of Common Shares acquired under the Purchase Agreement, plus (ii)
100% of the number of Warrant Shares issuable assuming all of the Warrants had
been issued pursuant to the Purchase Agreement and Consulting Agreement.

            (b)     The Company will maintain the Registration Statement, or
post-effective amendment filed under this Section 3 hereof current under the
1933 Act until the earlier of (i) the date that all of the Registrable
Securities have been sold pursuant to the applicable Registration Statement,
(ii) the date the holders thereof receive an opinion of counsel that the
Registrable Securities may be sold under the provisions of Rule 144 (without
limitation) or (iii) three years after the Subscription Date.

            (c)     All fees, disbursements and out-of-pocket expenses and
costs  incurred by the Company in connection with the preparation and filing
of the Registration Statement under subparagraph 3(a) and in complying with
applicable securities and blue sky laws (including, without limitation, all
attorneys' fees) shall be borne by the Company.  The Holders shall bear the
cost, pro rata, of underwriting discounts and commissions, if any, applicable
to the Registrable Securities being registered and the fees and expenses of
its counsel.  The Company shall qualify any of the securities for sale in such
states as such Holder reasonably designates and shall furnish indemnification
in the manner provided in Section 6 hereof.  The Company at its expense will
supply the Holders with copies of the Registration Statement and the
prospectus or offering circular included therein and other related documents
in such quantities as may be reasonably requested by the Holders.

            (d)     The Company shall not be required by this Section 3 to
include a Holder's Registrable Securities in any Registration Statement which
is to be filed if, in the opinion of counsel for both the Holder and the
Company (or, should they not agree, in the opinion of another counsel
experienced in securities law matters acceptable to counsel for the Holder and
the Company) the proposed offering or other transfer as to which such
registration is requested is exempt from

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applicable federal and state securities laws and would result in all
purchasers or transferees obtaining securities which are not "restricted
securities", as defined in Rule 144 under the 1933 Act.

            (e)     In the event the Registration Statement to be filed by the
Company pursuant to Section 3(a) above is not filed with the SEC on or before
July 25, 2001 and/or the Registration Statement is not declared effective by
the SEC on or before September 28, 2001, then the Company will pay the Holders
(pro rated on a daily basis), as liquidated damages for such failure and not
as a penalty, five percent of the purchase price of the then outstanding
Securities for every 30 calendar day period until the Registration Statement
has been filed and/or declared effective. Such payment of the liquidated
damages shall be made to the Holders in cash, immediately upon demand,
provided, however, that the payment of such liquidated damages shall not
relieve the Company from its obligations to register the Registrable
Securities.  If the Company does not remit the damages to the Holder as set
forth above, the Company will pay the Holders reasonable costs of collection,
including attorneys fees, in addition to the liquidated damages. The
registration of the Securities pursuant to this provision shall not affect or
limit Holder's other rights or remedies as set forth in this Agreement.

            (f)     The Company agrees that it shall declare the Registration
Statement effective within five Business Days after being informed by the SEC
that it may do so.  The Company also agrees that it shall respond to any
questions and/or comments from the SEC which relate to the Registration
Statement within five Business Days of receipt of such question or comment.

      Section 4.  Cooperation with Company.  Each of the Holders will
cooperate with the Company in all respects in connection with this Agreement,
including timely supplying all information reasonably requested by the Company
and executing and returning all documents reasonably requested in connection
with the registration and sale of the Registrable Securities.

      Section 5.  Registration Procedures.     If  and whenever the Company is
required by any of the provisions of this Agreement to effect the registration
of any of the Registrable Securities under the Act, the Company shall (except
as otherwise provided in this Agreement), as expeditiously as possible:

            (a)     prepare and file with the SEC such amendments and
supplements to the Registration Statement and the prospectus used in
connection therewith as may be necessary to keep such registration statement
effective and to comply with the provisions of the Act with respect to the
sale or other disposition of all securities covered by such registration
statement whenever the Holder shall desire to sell or otherwise dispose of the
same (including prospectus supplements with respect to the sales of securities
from time to time in connection with a registration statement pursuant to Rule
415 promulgated under the Act);

            (b)     furnish to each Holder such numbers of copies of a summary
prospectus or other prospectus, including a preliminary prospectus or any
amendment or supplement

                                      3
<PAGE>

to any prospectus, in conformity with the requirements of the Act, and such
other documents, as such Holder may reasonably request in order to facilitate
the public sale or other disposition of the securities owned by such Holder;

            (c)     register and qualify the securities covered by the
Registration Statement under such other securities or blue sky laws of such
jurisdictions as the Holders shall reasonably request, and do any and all
other acts and things which may be necessary or advisable to enable each
Holder to consummate the public sale or other disposition in such jurisdiction
of the securities owned by such Holder, except that the Company shall not for
any such purpose be required to qualify to do business as a foreign
corporation in any jurisdiction wherein it is not so qualified or to file
therein any general consent to service of process;

            (d)     list such securities on the Principal Market on which any
securities of the Company are then listed, if the listing of such securities
is then permitted under the rules of such Principal Market;

            (e)     enter into and perform its obligations under an
underwriting  agreement,  if  the offering is an underwritten offering, in
usual and customary form, with the managing underwriter or underwriters of
such underwritten offering;

            (f)     notify each Holder of Registrable Securities covered by
the Registration Statement any time when a prospectus relating thereto covered
by the Registration Statement is required to be delivered under the Act, and
of the happening of any event of which it has knowledge as a result of which
the prospectus included in the Registration Statement, as then in effect,
includes an untrue statement of a material fact or omits to state a material
fact required to be stated therein or necessary to make the statements therein
not misleading in the light of  the circumstances then existing.

      Section 6.  Information by Holder.  Each Holder of Registrable
Securities included in any registration statement shall furnish to the Company
such information regarding such Holder and the distribution proposed by such
Holder as the Company may request in writing and as shall be required in
connection with any registration, qualification or compliance referred to in
this Section.

      Section 7.  Assignment.  The rights granted the Holders under this
Agreement shall not be assigned without the written consent of the Company,
which consent shall not be unreasonably withheld.  This Agreement is binding
upon and inures to the benefit of the parties hereto and their respective
heirs, successors and permitted assigns.

      Section 8.  Termination of Registration Rights.  The rights granted
pursuant to this Agreement shall terminate as to each Holder (and permitted
transferee under Section 7 above) upon the occurrence of any of the following:

                                      4
<PAGE>

            (a)     all such Holder's securities subject to this Agreement
have been registered;

            (b)     all of such Holder's securities subject to this Agreement
may be sold without such registration pursuant to Rule 144 promulgated by the
SEC pursuant to the Securities Act; or

            (c)     all of such Holder's securities subject to this Agreement
can be sold pursuant to Rule 144(k) without volume limitation.

      Section 9.  Indemnification.

            (a)     In the event of the filing of any Registration Statement
with respect to Registrable Securities pursuant to Section 3 hereof, the
Company agrees to indemnify and hold harmless the Holders, and each officer,
director of the Holders or person, if any, who controls the Holders within the
meaning of the Securities Act ("Distributing Holders") against any losses,
claims, damages or liabilities, joint or several (which shall, for all
purposes of this Agreement, include, but not be limited to, all costs of
defense and investigation and all attorneys' fees), to which the Distributing
Holders may become subject, under the Securities Act or otherwise, insofar as
such losses, claims, damages or liabilities (or actions in respect thereof)
arise out of or are based upon any untrue statement or alleged untrue
statement of any material fact contained in any such Registration Statement or
any related preliminary prospectus, final prospectus, offering circular,
notification or amendment or supplement thereto, or arise out of or are based
upon 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; provided, however, that the Company will not be liable in any such
case to the extent that any such loss, claim, damage or liability arises out
of or is based upon an untrue statement or alleged untrue statement or
omission or alleged omission made in such Registration Statement, preliminary
prospectus, final prospectus, offering circular, notification or amendment or
supplement thereto in reliance upon, and in conformity with, written
information furnished to the Company by the Distributing Holders, specifically
for use in the preparation thereof.  This indemnity agreement will be in
addition to any liability which the Company may otherwise have.

            (b)     In the event of the filing of any Registration Statement
with respect to Registrable Securities pursuant to Section 3 hereof, each
Distributing Holder agrees that it will indemnify and hold harmless the
Company, and each officer, director of the Company or person, if any, who
controls the Company within the meaning of the Securities Act, against any
losses, claims, damages or liabilities (which shall, for all purposes of this
Agreement, include, but not be limited to, all costs of defense and
investigation and all attorneys' fees) to which the Company or any such
officer, director or controlling person may become subject under the
Securities Act or otherwise, insofar as such losses claims, damages or
liabilities (or actions in respect thereof) arise out of or are based upon any
untrue statement or alleged untrue statement of any material fact contained in
a Registration Statement, requested by such Distributing Holder, or any
related preliminary prospectus, final prospectus, offering circular,
notification or amendment or supplement thereto, or

                                      5
<PAGE>

arise out of or are based upon the omission or the alleged omission to state
therein a material fact required to be stated therein or necessary to make the
statements therein not misleading, but in each case only to the extent that
such untrue statement or alleged untrue statement or omission or alleged
omission was made in such Registration Statement, preliminary prospectus,
final prospectus, offering circular, notification or amendment or supplement
thereto in reliance upon, and in conformity with, written information
furnished to the Company by such Distributing Holder, specifically for use in
the preparation thereof and, provided further, that the indemnity agreement
contained in this Section 9(b) shall not inure to the benefit of the Company
with respect to any person asserting such loss, claim, damage or liability who
purchased the Registrable Securities which are the subject thereof if the
Company failed to send or give (in violation of the Securities Act or the
rules and regulations promulgated thereunder) a copy of the prospectus
contained in such Registration Statement to such person at or prior to the
written confirmation to such person of the sale of such Registrable
Securities, where the Company was obligated to do so under the Securities Act
or the rules and regulations promulgated thereunder.  This indemnity agreement
will be in addition to any liability which the Distributing Holders may
otherwise have.

            (c)     Promptly after receipt by an indemnified party under this
Section of notice of the commencement of any action, such indemnified party
will, if a claim in respect thereof is to be made against the indemnifying
party under this Section, notify the indemnifying party of the commencement
thereof; but the omission so to notify the indemnifying party will not relieve
the indemnifying party from any liability which it may have to any indemnified
party otherwise than as to the particular item as to which indemnification is
then being sought solely pursuant to this Section.  In case any such action is
brought against any indemnified party, and it notifies the indemnifying party
of the commencement thereof, the indemnifying party will be entitled to
participate in, and, to the extent that it may wish, jointly with any other
indemnifying party similarly notified, assume the defense thereof, subject to
the provisions herein stated and after notice from the indemnifying party to
such indemnified party of its election so to assume the defense thereof, the
indemnifying party will not be liable to such indemnified party under this
Section for any legal or other expenses subsequently incurred by such
indemnified party in connection with the defense thereof other than reasonable
costs of investigation, unless the indemnifying party shall not pursue the
action to its final conclusion.  The indemnified party shall have the right to
employ separate counsel in any such action and to participate in the defense
thereof, but the fees and expenses of such counsel shall not be at the expense
of the indemnifying party if the indemnifying party has assumed the defense of
the action with counsel reasonably satisfactory to the indemnified party;
provided that if the indemnified party is the Distributing Holder, the fees
and expenses of such counsel shall be at the expense of the indemnifying party
if (i) the employment of such counsel has been specifically authorized in
writing by the indemnifying party, or (ii) the named parties to any such
action (including any impleaded parties) include both the Distributing Holder
and the indemnifying party and the Distributing Holder shall have been advised
by such counsel that there may be one or more legal defenses available to the
indemnifying party different from or in conflict with any legal defenses which
may be available to the Distributing Holder (in which case the indemnifying
party shall not have the right to assume the defense of such action on behalf
of the Distributing Holder, it being understood, however, that the
indemnifying party shall, in connection with any one such

                                      6
<PAGE>

action or separate but substantially similar or related actions in the same
jurisdiction arising out of the same general allegations or circumstances, be
liable only for the reasonable fees and expenses of one separate firm of
attorneys for the Distributing Holder, which firm shall be designated in
writing by the Distributing Holder).  No settlement of any action against an
indemnified party shall be made without the prior written consent of the
indemnified party, which consent shall not be unreasonably withheld.

      Section 10.  Contribution.  In order to provide for just and equitable
contribution under the Securities Act in any case in which (i) the
Distributing Holder makes a claim for indemnification pursuant to Section 9
hereof but is judicially determined (by the entry of a final judgment or
decree by a court of competent jurisdiction and the expiration of time to
appeal or the denial of the last right of appeal) that such indemnification
may not be enforced in such case notwithstanding the fact that the express
provisions of Section 9 hereof provide for indemnification in such case, or
(ii) contribution under the Securities Act may be required on the part of any
Distributing Holder, then the Company and the applicable Distributing Holder
shall contribute to the aggregate losses, claims, damages or liabilities to
which they may be subject (which shall, for all purposes of this Agreement,
include, but not be limited to, all costs of defense and investigation and all
attorneys' fees), in either such case (after contribution from others) on the
basis of relative fault as well as any other relevant equitable
considerations.  The relative fault shall be determined by reference to, among
other things, whether the untrue or alleged untrue statement of a material
fact or the omission or alleged omission to state a material fact relates to
information supplied by the Company on the one hand or the applicable
Distributing Holder, on the other hand, and the parties' relative intent,
knowledge, access to information and opportunity to correct or prevent such
statement or omission.  The Company and the Distributing Holder agree that it
would not be just and equitable if contribution pursuant to this Section were
determined by pro rata allocation or by any other method of allocation which
does not take account of the equitable considerations referred to in this
Section.  The amount paid or payable by an indemnified party as a result of
the losses, claims, damages or liabilities (or actions in respect thereof)
referred to above in this Section shall be deemed to include any legal or
other expenses reasonably incurred by such indemnified party in connection
with investigating or defending any such action or claim.  No person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not
guilty of such fraudulent misrepresentation.

      Section 11.  Notices.  Any notice pursuant to this Agreement by the
Company or by the Holders shall be in writing and shall be deemed to have been
duly given if delivered by (i) hand, (ii) by facsimile and followed by mail
delivery or (iii) if mailed by certified mail, return receipt requested,
postage prepaid, addressed as follows:

                                      7
<PAGE>
          (a)     If to the Company:

                         Pacific WebWorks
                         180 South 300 West, Suite 400
                         Salt Lake City, Utah 84101
                         Attention: Ken Bell, CEO
                         Telephone: (801) 578-9020
                         Facsimile: (801) 578-9019

          (b)     If to the Placement Agent:

                         Columbia Financial Group, Inc.
                         1301 York Road, #400
                         Lutherville, Maryland 21093
                         Attention: Tim Rieu

          (c)     If to the Investors:

                         TST Corporation
                         369 East 900 South, Suite 149
                         Salt Lake City, Utah 84111

                         Pacific First National, Inc.
                         10866 Wilshire Blvd., Suite 400
                         Los Angeles, California 90024

                         State Management Associates, L.C.
                         824 East 5th Avenue
                         Salt Lake City, Utah 84103

                         AMCAN Services, Inc.
                         30 Rockerfeller Plaza
                         New York, New York 10012

      Notices shall be deemed given at the time they are delivered personally
or five calendar days after they are mailed in the manner set forth above.  If
notice is delivered by facsimile to the Company and followed by mail, delivery
shall be deemed given two calendar days after such facsimile is sent.

      Section 12.  Counterparts.  This Agreement may be executed in
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

                                      8
<PAGE>

      Section 13.  Headings.  The headings in this Agreement are for reference
purposes only and shall not affect in any way the meaning or interpretation of
this Agreement.

      Section 14. Choice of Law; Venue; Jurisdiction.  This Agreement will be
construed and enforced in accordance with and governed by the laws of the
State of Utah, except for matters arising under the Securities Act, without
reference to principles of conflicts of law.  Each of the parties consents to
the jurisdiction of the U.S. District Court sitting in the State of Utah, for
the Central District of Utah in connection with any dispute arising under this
Agreement and hereby waives, to the maximum extent permitted by law, any
objection, including any objection based on forum non conveniens, to the
bringing of any such proceeding in such jurisdictions.  Each party hereby
agrees that if another party to this Agreement obtains a judgment against it
in such a proceeding, the party which obtained such judgment may enforce same
by summary judgment in the courts of any country having jurisdiction over the
party against whom such judgment was obtained, and each party hereby waives
any defenses available to it under local law and agrees to the enforcement of
such a judgment.  Each party to this Agreement irrevocably consents to the
service of process in any such proceeding by the mailing of copies thereof by
registered or certified mail, postage prepaid, to such party at its address
set forth herein.  Nothing herein shall affect the right of any party to serve
process in any other manner permitted by law.  Each party waives its right to
a trial by jury.

      Section 15.  Severability.  If any provision of this Agreement shall for
any reason be held invalid or unenforceable, such invalidity or
unenforceability shall not affect any other provision hereof and this
Agreement shall be construed as if such invalid or unenforceable provision had
never been contained herein.

                 [Remainder of Page Intentionally Left Blank]

                           [Signature Page Follows]

                                      9
<PAGE>

      IN WITNESS WHEREOF, the parties hereto have caused this Registration
Rights Agreement to be duly executed, on the day and year first above written.
                                      PACIFIC WEBWORKS, INC.
Attest:

    /s/ April Marino                     /s/ Kenneth W. Bell
By:_________________________          By:_________________________________
     Name: April Marino                  Name: Kenneth W. Bell
     Title: Paralegal                    Title: Chief Executive Officer

                                      COLUMBIA FINANCIAL GROUP, INC.

                                        /s/ Timothy J. Rieu
                                      By____________________________
                                      Name: Timothy J. Rieu
                                      Title: President

                                      PACIFIC FIRST NATIONAL, INC.

                                         /s/ signature illegible
                                      By____________________________
                                      Name: illegible
                                      Title: illegible

                                      TST CORPORATION

                                         /s/ John W. Peters
                                      By____________________________
                                      Name: John W. Peters
                                      Title: President

                                      10
<PAGE>

                                      STATE MANAGEMENT ASSOCIATES, L.C.

                                          /s/ L. Perry
                                      By____________________________
                                      Name: L. Perry
                                      Title: Member

                                      AMCAN SERVICES, INC.

                                        /s/ Dennis Sutton
                                      By____________________________
                                      Name: Dennis Sutton
                                      Title: (illegible)

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